If we had 25% more people in this country that took the time to teach young people about financial matters, we would have a much better country. There are few things more pleasing to me than seeing someone teach their little ones how money can work for them. Kudos!!
OT. Anyone fight with spouse about money?
- Thread starter RedBaloneyPony
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Although I don't deal in mutual funds, I much prefer them to stocks. The good mutual funds can be nice and steady.
There can be some pretty wild swings too but they definitely are less risky for novice investors which includes 99.99% of investors. Buffet’s strategy of buying undervalued dividend paying stocks worked well for me for a number of years. I bought WWW in the 90s at 8-3/4 off of a high of about 37 and did very well on it. I tried to buy stock in companies who marketed products I used. I just cashed out the last of my dividends from a money market account from WFC and that stock’s dividends. I sold those stocks probably 15 years ago.
Buffet has also said that his recommendation for new investors would be to pour into the S&P 500. “A random walk down Wall Street” highlights that very few brokers outperform the S&P over the long haul.
If someone isn’t sure where to put money - S&P500 index is a low cost (in terms of fees) option that should deliver reliable results over the long term.
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And you can do that in a Vanguard no load fund without a broker.
Read John Bogles book “the little book of common sense investing” and you will never own another mutual fund again
I've never owned a mutual fund in my life. For some people it makes more sense than a lot of other investment vehicles.
True, I suppose. No one and I mean NO ONE (stock picker or mutual fund manager) will outperform an ETF over a 10 year period, especially when factoring in fees and commissions. They can get hot, but they eventually fall off.
I cannot think of an example where a mutual fund would be preferable to top index fund. Anyone? I’m listening.
Index funds run off a computer algorithm for what the fund desires. A company writes the algorithm and then it resets the holdings at a set interval, say annually.
A mutual fund is actively, or semi-actively, managed by a very well-paid person with a very well-paid staff. Much cheaper to use the computer and so you save on fees right off the bat. The longer you are in a mutual fund, the more account management fees you pay.
No! Read even 10 pages of John Bogle’s book. You will be convinced. The man is a legend and a genius.
Both are just a collection of individual stocks though. That's what I meant.
In simplest terms with an index fun, you are buying a tiny slice of the S and P 500. Nothing complex about it, thus no need for fancy analysis or expert managers. Look at the historical performance of the DOW and the theory is proven out. But it is a long term play.
Yes, whereas a mutual fund may bet on 10 tech stocks for example, an index fund is betting on the health and growth of the US economy.
I understand the lure of stock picking. How i wish I had plowed cash into Amazon, Apple Tesla and Google early and then waited.
Why? He founded Vanguard. 99.999% of people with money to invest aren’t capable stock pickers and probably shouldn’t be buying investment real estate. Index mutual funds are great no brainer investment vehicle for a majority of investors.
Economy is just fine.. nothing to see here..
amp.cnn.com
Americans' credit card debt hits a record $1 trillion | CNN Business
Americans’ credit card debt levels have just notched a new, but undesirable, milestone: For the first time ever, they’ve surpassed $1 trillion, according to data released Tuesday by the Federal Reserve Bank of New York.
It’s surprising because our government sets such a good example 🫣Economy is just fine.. nothing to see here..
Americans' credit card debt hits a record $1 trillion | CNN Business
Americans’ credit card debt levels have just notched a new, but undesirable, milestone: For the first time ever, they’ve surpassed $1 trillion, according to data released Tuesday by the Federal Reserve Bank of New York.
Just read that by 2033 social security payments will exceed social security tax revenue so expect social security payments to be reduced. This this the stuff the stupid gubment should be working on instead of all the stupid hopeless green spending.
There is a report that our government is now so massive, they can no longer manage the large amounts, track money or make any financial ptedictions through the CBO. It is totally out of control, waste and fraud will rule the day.
I also agree with doing something about SS now rather than later. The reason they don't is if they pumped money into that system now, they wouldn't have money for the green and other pet projects. Better to let it get worse and create a crisis.
Hello new financial system. CBDC
I also agree with doing something about SS now rather than later. The reason they don't is if they pumped money into that system now, they wouldn't have money for the green and other pet projects. Better to let it get worse and create a crisis.
Hello new financial system. CBDC
We are in real trouble
There are a lot of folks that don’t think they will have to start paying back their student loans next month.. same folks that thought the free money would keep on coming..
The student loan issue really burns me up. A lot of good people met their obligations and paid their debt. A bunch of other folks that nevet went to college get to partake in paying these debts. BS!
A main driver in the accelerated expense of college is the ease with which loans are available. Big U knows Uncle Sam is good for it.
Loan forgiveness does not solve this underlying problem.
my solution is that every borrower go through a 2 to 4 hour class prior to taking loans so they know what they’re up against in a few years. Writing checks to Sallie Mae every month for years gets old, but thats not our problem. These folks with their low value degrees can cry all they want. Wise up before writing checks your ass can’t cash
Obama may have had good intentions.. but he totally fvcked this up. Student loans needs to go back to private sector and needs to be forgiven if someone declares bankruptcy… I suspect banks will only loan to majors that are worth a damn and make all these dumbass gender studies majors obsolete
I respectfully disagree with the first 6 words of your response Tampa.
Obama never had a good intention in his life when it came to this country.
If I recall, at its inception, 4.88% of all student loan money was used to help fund Obamacare.
I personally think student loans should not be allowed to bankrupt out. You borrow the dough, you pay it back.
It doesn't seem fair to me that hundreds of thousands of good, hardworking people sacrificed and spent 10-20-30 years paying back student loans, many times with one student loan on top of another, and then to just let some people write if off in bankruptcy just doesn't make sense.
Many of those same dumbasses that would file for bankruptcy and have student loans forgiven are the most likely candidates to file bankruptcy again during their lifetime.
Some people were just born to be financial flunkies.
From 1995 to 2012 private cost of tuition rose 30%. During the next 4 years it increased another 12%. You're right drubendall, those schools knew Uncle Sam would play the game, and the higher education system took full advantage.
I think your 2 -4 hour hour class on the real impact of student loan borrowing should include a test at the end of that class and if they can't pass it, they don't get the dough.
'
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Well, we're paying a Trillion a year in interest right now just to service the debt, and the debt is increasing by the minute.
Social Security will not be saved, and if it is, the cost of living will be so high those reliant on SS will fall by the wayside.
The next big thing will be Universal Basic Income.
The actual goal is to cripple and and eliminate, and allow small and regional banks to fail so the only option for most people will be to go one of a half-dozen large commercial/investment banks.
Then they will try to launch the CBDC. The CBDC is doomed to fail in this country.
Any acceptance of a CBDC will guarantee enslavement of the population. That's the only purpose it will serve.
Tru, with respect to your last comment, all meaningful measures of a growing or healthy economy are already at crisis level.
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They talk about reducing Social Security, but they won't do it. It's a voting block that will seek their revenge at the polls.
The situation is totally hopeless. For starters, not another penny to Ukraine. Not a penny of foreign aid to any country.
For crying out loud, a couple years ago we had to BORROW $ 43,000,000.00 from China just to PAY China foreign aid.
But, in the overall picture, foreign aid is a drop in the bucket considering the massive debt we have.
Not to be callous, but if you're not a citizen of this country, not a penny for you.
We have moved beyond the point of saving this country. Every citizen owes $ 233,000.00. How many people here have a quarter million just laying around? Not many.
I don't like to be a doomsayer, but I do understand numbers. I also understand what unsustainable means.
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LOL nothing is going to happen until people do something. And that's not going to happen.
Just saying if you can bankrupt out of student loans then the banks will only lend to majors that create wealth.. which will then drive down prices..
You might be right about Obama… he may of been unscrupulous from the start
Sadly I think you may be right on how all of this plays out… May God have mercy on our souls
No one will seriously acknowledge the problem. We have to drive the car off the cliff and then do the finger-pointing.
Just too many people that are stakeholders in federal handouts, from small businesses, to corporations, individuals, special interest groups, and foreign governments.
Guys, will you stop. You’re going to offend a liberal with all this truth.
No one knows for sure how this will play out, but it's trending toward disaster.
I totally agree with you. The people in DC have totally failed us. Any city of any size have homeless drug addicts that are just total lost causes. I feel bad for these folks but this country can only do so much and eventually you have to be responsible for your actions. Every city I have been in this summer I have had to walk caress the street to avoid aggressive homeless druggies. Inflation is gutting middle class America, the wide open border is only putting additional pressure on the system. In ten more years we will not recognize this country.
I ran a small college. People are required to go through a student loan process before accepting it. I have watched hundreds if not thousands go through it and they just sit and sign. People are not good at looking into the future.
The feds make such crazy and ridiculously difficult rules, the private sector does not want to get involved nearly as much these days if at all. You make one tiny mistake or fail to notify at any interval and the government will come along and use it as a reason to forgive and blame the banks.
We have created a play now and pay later society in all areas, not just student loans. We encouraged both of our kids to get good grades and ACT scores to help pay for college, it helps. I was doing my grad work at Fort Hays and one class was on Student Services. There was a student there who worked right up to getting a degree, within a handful of credit hours and would not finish only to take out more loans and start on a second and then third degree, never finishing any of them. I can't remember where it finally got to, I think the fifth one the government shut the student off, geez, what a concept.
Colleges offer some of the most worthless degrees imaginable. It doesn't matter if there are enough jobs, they always have a story about someone getting a job in that area. Colleges have an endless supply of money coming from an unsuspecting populace guaranteed by you and I. What could go wrong? Perhaps the government should come back on those schools for some of the money, that would change things in a hurry.
The feds make such crazy and ridiculously difficult rules, the private sector does not want to get involved nearly as much these days if at all. You make one tiny mistake or fail to notify at any interval and the government will come along and use it as a reason to forgive and blame the banks.
We have created a play now and pay later society in all areas, not just student loans. We encouraged both of our kids to get good grades and ACT scores to help pay for college, it helps. I was doing my grad work at Fort Hays and one class was on Student Services. There was a student there who worked right up to getting a degree, within a handful of credit hours and would not finish only to take out more loans and start on a second and then third degree, never finishing any of them. I can't remember where it finally got to, I think the fifth one the government shut the student off, geez, what a concept.
Colleges offer some of the most worthless degrees imaginable. It doesn't matter if there are enough jobs, they always have a story about someone getting a job in that area. Colleges have an endless supply of money coming from an unsuspecting populace guaranteed by you and I. What could go wrong? Perhaps the government should come back on those schools for some of the money, that would change things in a hurry.
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