Company 401K, your thoughts?
08-21-2010, 01:38 PM
#61
At home on the maddog!
Joined APC: Mar 2009
Position: ATL MD-88A
Posts: 2,874
If a company goes bankrupt, the stock becomes worthless... there is nothing to sell. The Snider Method does account for the loss and will show it at the time the bankruptcy occurs.
While the Snider Method uses a very reliable screening tool to make sure new positions are in companies that are not likely to go bankrupt, it is not impossible for a Snider Method position to go bankrupt, just not likely. Bankruptcy is a risk for anyone investing in individual stocks.
08-22-2010, 05:46 AM
#62
Gets Weekends Off
Thread Starter
Joined APC: Jun 2008
Posts: 193
CargoMan-
Bit late to this thread. I started an IRA in the late 90's. As of this year my returns are the same as if I shoved the $$ in a mattress for the last decade.
Finally got my cousin to take a look at the IRA. He's been using ETF's that short the market as well as some option trading. He actually makes a living off his trades. And this year I've done better.
I can say that for me, investing in a diverse group of mutual funds per investment advisors advice did not work.
What Boilerup said is right, if you don't know how to invest, at least take the company match (FREE MONEY) and the tax benefits. And after the deflationary period ends (who knows when that will be) inflation may come back with a vengeance, and you can get perhaps 15% in a money market. Or maybe you'll find a savvy money manager to help you out.
Bit late to this thread. I started an IRA in the late 90's. As of this year my returns are the same as if I shoved the $$ in a mattress for the last decade.
Finally got my cousin to take a look at the IRA. He's been using ETF's that short the market as well as some option trading. He actually makes a living off his trades. And this year I've done better.
I can say that for me, investing in a diverse group of mutual funds per investment advisors advice did not work.
What Boilerup said is right, if you don't know how to invest, at least take the company match (FREE MONEY) and the tax benefits. And after the deflationary period ends (who knows when that will be) inflation may come back with a vengeance, and you can get perhaps 15% in a money market. Or maybe you'll find a savvy money manager to help you out.
I‘ve lost my confidence in Wall st. (Not saying I’m right). Don’t what to get burned on a pyramided scheme again.
I’ve been purchasing and repairing things that I would wish that I had done if I didn’t have any money later. That’s the way I started to think. Also looking into plan B cottage business.
Thanks for some great advice eveyone.
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