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tony

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  1. Teaching Loved Ones About Money

    Moe I have him enrolled in his 401k at least.Thats a start . He is relatively new in his job. He has good benefits-medical insurance and is paying for that. Still he is blowing his whole paycheck. We are moving in the direction of asking for rent which I will then secretly save for him and return to him once he is married or older. Life is tough but so much easier if you get started when you are young. He thinks I lecture him too much on his money habits and, I probably do.
  2. Teaching Loved Ones About Money

    It is. Most younger folks won't listen to good advice especially from the older folks. Reminds of Mark Twain quote. “When I was a boy of 14, my father was so ignorant I could hardly stand to have the old man around. But when I got to be 21, I was astonished at how much the old man had learned in seven years.”
  3. I'm big on educating folks about financial literacy. Currently my son who is already spending too much money in his new after college job while living at home is getting advice from me just about every day at dinner and, i can tell he is not too pleased. Too bad ! he will keep hearing from me until he gets on the right track. There is some good stuff here below http://www.morningstar.com/articles/850913/teaching-loved-ones-about-money-heres-a-tool-kit.html
  4. Nobody Knows Nothing

    Yes Tony Isola and me have similar names and we are both Italian , and we have a similar passion but thats were the comparison ends pretty much. I am just an ordinary, average 403bwise poster. Tony Isola on the other hand is a true rising star of the financial world I would bet that Tony and others at Ritholtz do in fact drop by this site and discussion board from time to time. We offer them many ideas and perspectives.
  5. Potential crash?

    Amen Everything is a scare tactic to get you to part with your money. Stay the course.
  6. Nobody Knows Nothing

    http://tonyisola.com/2018/02/nobody-knows-nothing/
  7. This Index Card Says It ALL

    oh and just to add, his company has a financial representative that represents his 401k and helps employees with their allocation. Those are the kind of investments his advisor has him in. Very sad but my bro was never one to listen to me.
  8. This Index Card Says It ALL

    I hope you younger folks can learn from us older folks so you can avoid our mistakes. Unfortunately folks like my stubborn brother seems to want to learn the hard way. He is 57 and has no margin for error if he wants to retire on time. So what is he investing in? Gold, precious metals, individual stocks (his company he works for) and some really aggressive mutuals. I with him luck.
  9. This Index Card Says It ALL

    Don't know exactly how much I lost the last recession but I will never forget the 2000 drop. Yes I owned a bunch of Janus Funds which was a very bad idea as they were all clones of each other even though the funds had different names. They were all heavily invested in techs. There was no such thing as diversification if you own multiple janus Funds .I was so stupid.I didn't know that. I was so shell shocked at the time. I was saving like crazy and ended up with less money than even your non saver had. I thought it was all over. I blew it. But I sold those funds and while still foolishly stayed 100% stocks my mutual fund selection and allocation was more reasonable so I think the big fall of 2008 was bad but not as bad as the tech bubble bursting. I have learned a lot since then . I kept investing and buying more shares and began adding bonds and wow it all came back pretty good! Had I freaked out and sold the loses would have been permanent. I know I have told my stories before but since we add new folks all the time, I thought I should tell it again.
  10. This Index Card Says It ALL

    Ed When i was 100 % stocks and ran into this site, I read Steve talking about his bond allocation. I thought to myself "thats silly and too conservative" and kept going with all stocks. Keep in mind this was at time I felt pretty good about myself. I had just vanquished all my bad moves with annuities ALONG WITH THE SALESPEOPLE THAT SOLD THEM:( to hell , stocks were rising and I was on the right road with Vanguard. Finally I had it all figured out right ?. Well, sort of. Then came two big recessions and dramatic stock pullbacks that cost me 65% of all the money I had saved in a blink of an eye. It was back to the classroom for me. I eventually starting adding bonds as I could slowly and today I feel comfortable that I have a good mix of bonds and index funds. Granted, I am almost twice your age SO MY PERSPECTIVE IS DIFFERENT.. I think as you get older you will realize that playing it safe is not a bad thing. Having some bonds does not hurt your portfolio performance all that much . I think I read a chart once that showed that over time a balanced portfolio of stocks and bonds was pretty close to the performance of an all stock portfolio with much less volatility. Bogle's age in bonds is not a bad guideline if you will be living totally on your savings in retirement but if you are going to have a pension, that pension and SS could maybe count as part of your fixed income and you won't have to be so strictly invested in bonds .
  11. This Index Card Says It ALL

    If she is young and has decades to go its not a bad move if she understands to reign in that aggressiveness as she gets older. And like Dan points out, if she keeps investing in her new set up , those stocks are now on sale!!. My question to you IMUA is why did you mimic the Vanguard 2045? If available I would have gone directly into that fund and let Vanguard manage it for you.
  12. This Index Card Says It ALL

    IMUA, It always takes longer than expected as we know for these transfers to happen but in the financial scheme of things it wasn't really all that long a time It probably wouldn't have made all that much difference over such a short period of time unless you transferred into more aggressive investments. Regardless, where your assets were if the investments were similar the losses would have been similar. You will be fine long term.
  13. This Index Card Says It ALL

    Ken I personally enjoy your posts even when I may not agree with you. Not everything you post interests me but I am sure plenty of folks don't always like what I post either. Its all good. Different opinions is what creates the dynamic of this board. Non of us should take anything said too personally. I started this conversation in the first place by posting this index card . Peace and love to all Tony
  14. This Index Card Says It ALL

    Yup The trick, then, is to avoid making portfolio decisions based on short-term swings and movements. Data shows that those who trade excessively or at the wrong time tend to show much worse performance than the buy-and-hold investors who mostly sit tight and reap the benefit of compound interest. My brother call me yesterday disturbed that his 401k had tumbled. I told him if he was scared from what happened he needed do nothing now but eventually move into more bonds. I doubt he will listen to me.He didn't last time we talked about this. His buddies at work are all high flyers and have their saved assets in things like gold, silver, and individual company stocks. Listening to others can be detrimental to your financial health but thats how many invest. Following the crowd can be costly.
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