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26 Comments
- evolvor, on 10/10/2007, -0/+17# 11 actually doing it instead of talking or thinking about doing it
- michaelnew20, on 10/10/2007, -0/+4Great content. I agree with all of the advice. An automatic savings plan is a great way to get yourself started.
- wilf_brim, on 10/10/2007, -1/+4Great advice. Look at the last piece of advice, keep it simple. The portfolio that was suggested (a low cost S&P 500 fund, low cost international stock, and low cost bond fund) will treat you very well, and is perfect for most people (in varying proportions).
- Napoleone, on 10/10/2007, -0/+3Buy gold.
- senatorkevin, on 10/10/2007, -1/+3I don't understand how anyone could agree with *all* of these. Investing in index funds is horrible if you're young because you can withstand bigger ups and downs as you're not close to retirement. I could go on...
- rotorhead47, on 10/14/2007, -1/+3This is gobbly-gook wirtten by poor people
#1: The myth that stockpicking is gambling. Its not hard folks, read a little
#2 Very true, but If you buy index funds there are very little fees, so this contradicts #1
#3 Bonds are for corporations and pension funds, not indivudal investors. Stocks have vastly outperformed funds over the past 100 years
#4 "Diversification is protection from ignorance" -Warren Buffet
#5 Not sure how this helps. Price of investents only matter when you buy, and when you finally sell and need the money. watching your portfoilio minute by minute will only stress you out and lead to bad decisions
#6 Investment Advice are like *****, everyone has one. If you are to lazy or stupid to make decisions for yourself you deserve the reulting bankruptcy
#7 Try smart, not safe.
#8 Wholeheartedly agree
#9 Be a tax expert. its not what you make, its what you keep
#10 Agree - AussieWebmaster, on 10/10/2007, -1/+3fun read
- jlhoben, on 10/10/2007, -0/+2#1 don't invest, pay off debt.
- geniusj, on 10/10/2007, -0/+1There's a lot of money to be made in one of the lesser markets out there, the Foreign Exchange market (FOREX). It wouldn't seem like it on the surface given the relatively low long-term volatility of currencies, but there are things such as leverage and the smaller fluctuations that occur during a trading day that can be taken advantage of to garner some impressive gains. Also remember that currencies' values are based on other currencies, so whenever one currency is losing, it means another is winning. It's always a risk vs reward trade-off, but I find it to be a lot more predictable than the stock market (though I'm invested in both).
- Napoleone, on 10/10/2007, -0/+1Somewhat true.
- GoldMaster, on 10/10/2007, -0/+1truth b told there are no hard and fast rules”commandments” in the stock exchange market or in any form of investment ,only guidelines and principles.You summed them up well
- mozzep, on 10/10/2007, -0/+1Yes, if you're investing for the long term (30+ years) it is far better to invest in a volatile area of the market.
- geniusj, on 10/10/2007, -0/+1I'd like to address what Frnnkdlxx brought up below me as well. If the dollar is tanking, you might as well take advantage of it :)
- Rmstrjim, on 10/10/2007, -0/+1Spoken like a true paranoid 20something who obviously won't be getting ahead anytime this lifetime.
Enjoy being pov. - Frnnkdlxx, on 10/10/2007, -0/+1umm... Actually if or when this economy can no longer retain its dollar hegemony, we will be forced into another form of hard currency. The people will run to gold, but that wouldn't be a smart bet because never before in history have so few held so much gold. The european banking interests have a super monopoly on gold since they looted it from the federal reserve vaults (being that its private) and therefore its not safe to buy something in which the price is at the mercy of men in far away lands. Silver is plentiful and valuable here in America. Invest solely in silver, and you can't go wrong. Plus... Have you seen how expensive gold is lately? Are you crazy?
- inactive, on 10/10/2007, -1/+1 Just remember never listen to the professionals. Larry Kudlow is busy telling people the market is in great shape and inflation is practically nonexistent., Buy Buy BUY!!!
Sure Larry.
I haven't heard Jim Kramer lately but I sure wouldn't trust him either. - AdamF24, on 10/10/2007, -2/+2Good read for both investors and people who write financial blogs. I have an investing blog of my own and after reading his article I realize how much a few simple images thrown into the post helps the article look.
- darksky100, on 10/10/2007, -0/+0An excellent point that many forget to mention!
- Rmstrjim, on 10/10/2007, -0/+0Risk is a personal choice, discounting the sound advice just because he doesn't jive with your views on risk is pretty silly.
- ikesauto, on 10/10/2007, -1/+1Good point. If you're an invester and makes it a full time job you may know what you're doing othere wise stay home and sell on eBay.
- darksky100, on 10/10/2007, -2/+2Great article, I can't wait for this: "Stay tuned for my next post on the lessons Star Wars teaches us about investing. I’m having fun with that one."
- darksky100, on 10/10/2007, -1/+0Only the crooked and devious make insane progress, followed by an insane fall when they're found out and locked up for it, losing everything they have.
- mozzep, on 10/10/2007, -2/+1www.sinletter.com
www.kineticfinancial.com - inactive, on 10/10/2007, -2/+0*****.
Commandment number one:
Investment advisors are in the market for the commission not for your financial interests.
The Italians in the old country have a saying:
PIZZA SHOPS DO NOT DO BANKING AND BANKS DO NOT MAKE PIZZAS.
In plain English; anyone who takes financial advice from blogs, newspaper articles, strangers bearing gifts, etc, etc, deserve to be fleeced. People who make serious money from investments, have experience and expertise in the investment field.
For the working class buying a home and paying it off as fast as possible is your best investment. Pay your home off in 10 years will give you 20 years of saved interest payments which equates to spending money to enjoy life. If you are paying off a mortgage and investing in shares, then you are flushing your hard earned money down the toilet. - Frnnkdlxx, on 10/10/2007, -6/+310 Commandments of Investing
1. Don't Invest
2. Don't Invest: Why? The dollar is collapsing
3. Don't Invest: Why the hell not! China and Iran are dumping the dollar
4. Don't Invest: Screw you! No.. Screw your Money in the bank goodbye. In the last 10 yrs. if you placed 100,000 in the bank, and pulled it out now, you'd only pull out 60,000.
5. Don't Invest: The dollar is worth the same as a Canadian (whatever their money is called) *spits*
6. Don't INVEST MAN!: instead, purchase REAL assets and store them. Like silver and for the slightly wealthy, gold.
7. Don't Invest, OR YOUR A DEAD MAN! The stock market just went up. But that's because the markets been flooded with literally trillions! that means the value is plummeting
8. Don't Invest or you're jumping into the lake of fire.
9. Don't INVEST!!!! Ever heard of the cafr? (http://digg.com/politics/Comprehensive_Annual_Fina ... the gov't owns the money and when the gov't creates instability, the dollars holding at home and abroad falters. Invest instead in a small business
10. DON'T ***** INVEST!
Hope you learned something there.... - Cherubim, on 10/10/2007, -10/+5#1 Don't pay any attention to any "commandments" of investing
#2 - #10 Remind yourself of point #1.
#11 Realize that the market is rigged and only the crooked and devious get ahead.
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