Good article and it stimulates thinking about how we all approach this topic. I never did save enough to let dividends pay my way in retirement. I can remember when CDs paid nice interest, but that joy is long gone. And just investing, no matter how well I did it, would not cover my monthly expenses. Quitting work at a young age also did not help me get set up, so that I now trade some options to make up the shortfalls each month. It is a real job, maybe 2 or 3 hours a day, and most of that time is spent reading and researching. Works well for me.
The very few times I was dragged into a dollar store they seem to look messy and cheap, sort of like a yard sale. Not my cup of tea. I find it easier to make extra money trading than try to "save" my way to wealth.
Interesting topic, and it is fortunate that you have sufficient funds to dabble here and there. I understand the desire for some safety, but the choices you have mentioned seems more like 6 of one or half a dozen of the other. And with inflation spreading widely of late, it may outrun many of the choices you mentioned so that you are not even keeping up.
.
In my situation I am a dozen years older and have a smaller nest egg to work with. So that it seems best for me to stay actively involved in where the funds are and to maximized returns using higher dividends stocks (6 to 11%) and some conservative (low delta) option positions that have been generating in the range of 20-24% per year.
.
With this mixture I can pay all my bills and sock some money away each year to grow the funds. Yes, I must work a few hours a day most of the time, but that is not a bad thing either. We do what we must to meet our needs and the answer to retirement is different for every person.
This is am important topic, but it has no one answer. Yes, both parents and kids need a break from each other after high school, and kids need space and freedom to grow on their own. College is not the only option. In our day the military had a way of teaching 17 year olds. Meals and clothes are free, and the kids will learn much not taught at home. Getting a conventional job or jobs for 2 or 3 years can also help mature the youngsters. And in my opinion money skills should have been taught by parents from 10 to 17 years of age for each child.
There are things to buy where used, inexpensive, or basic models will fulfill your needs. There are other items where is makes sense to splurge for the latest and greatest. The challenge is knowing which is what. And above all, avoid purchases that are totally unneeded.
My dad always owned a few stocks that never went anywhere, but they were fun to look at back when newspapers published daily stock market prices in eights. This kept a ten year old busy. In high school dad transferred a few stocks to me that never went up in price. After college and some years of working I sold those two stocks just before they took off in price. Working thru local brokers was so expensive the average Joe could not trade, but only own for a long time. Like watching grass grow,
.
Then came the internet, cheap commissions and the common man was on an even footing with the Big Boys. After some years of pain and scars, I got serious about learning to trade, and discovered OPTIONS. Now I sit at home and generate as much money as I need to pay the bills. There is so much money floating around in the USA and the world, I find it easy to tap in and have some of it stick to my fingers. I try to never get greedy, just earn what I need and be grateful. What a country !!!
Wow, what a question! I sit here at my desk, on my second cup of coffee in the darkness as the sun has not yet appeared. I ponder this dilemma and come up with a few cute answers, but . . . . the reality is if something of mine was lost, stolen or other wise disappeared would it bother me? NO, it would not. The bottom line is, if I need something I will just go buy it, even if it is the second time I bought it.
Bottom line is, the only thing of some value is me. And the value has nothing to do with dollars, but I keep going, best I can. 71 and counting.
All autos cost money to buy, own, finance, repair, register, insure, and property taxes (here in Connecticut). If you need basic transport you can easily skimp. If you need to tow a heavy boat, or transport fire wood and make dump runs you need a larger, more expensive vehicle. And if the spirit moves you, and you have some extra unused cash, you can treat yourself to a stick-shifted sports car to run on winding country roads, with the top down and your hair blowing in the wind. Go for it - live a little - enjoy. No quiet electric autos for me. Electricity is for light bulbs.
Topic: Seeing Visions Jonathan, I like your article, and it is somewhat of a departure for your writing to wander to "mental tricks" to help folks reach their goals. I have been an athlete my entire life and into trading/investing for some decades. You mentioned being "in the zone" and then said you can never do that. In my opinion you just skipped over the most powerful talent a person can have.
I have been in the zone many times during athletic competition and it is amazing how a person can perform when in the zone. Performance goes right off the end of the scale. It is only in the last ten years or so that I have come to believe that being in the zone can be used for trading and creating unusual amounts of profits. This is not the place to get into more details, but concentration strong enough to get a person into the zone is well worth learning for anyone who trades.
Comments
Good article and it stimulates thinking about how we all approach this topic. I never did save enough to let dividends pay my way in retirement. I can remember when CDs paid nice interest, but that joy is long gone. And just investing, no matter how well I did it, would not cover my monthly expenses. Quitting work at a young age also did not help me get set up, so that I now trade some options to make up the shortfalls each month. It is a real job, maybe 2 or 3 hours a day, and most of that time is spent reading and researching. Works well for me.
Post: The Investing Life
Link to comment from December 11, 2021
The very few times I was dragged into a dollar store they seem to look messy and cheap, sort of like a yard sale. Not my cup of tea. I find it easier to make extra money trading than try to "save" my way to wealth.
Post: The Price Is Right
Link to comment from December 11, 2021
Interesting topic, and it is fortunate that you have sufficient funds to dabble here and there. I understand the desire for some safety, but the choices you have mentioned seems more like 6 of one or half a dozen of the other. And with inflation spreading widely of late, it may outrun many of the choices you mentioned so that you are not even keeping up. . In my situation I am a dozen years older and have a smaller nest egg to work with. So that it seems best for me to stay actively involved in where the funds are and to maximized returns using higher dividends stocks (6 to 11%) and some conservative (low delta) option positions that have been generating in the range of 20-24% per year. . With this mixture I can pay all my bills and sock some money away each year to grow the funds. Yes, I must work a few hours a day most of the time, but that is not a bad thing either. We do what we must to meet our needs and the answer to retirement is different for every person.
Post: Mix and Match
Link to comment from December 4, 2021
This is am important topic, but it has no one answer. Yes, both parents and kids need a break from each other after high school, and kids need space and freedom to grow on their own. College is not the only option. In our day the military had a way of teaching 17 year olds. Meals and clothes are free, and the kids will learn much not taught at home. Getting a conventional job or jobs for 2 or 3 years can also help mature the youngsters. And in my opinion money skills should have been taught by parents from 10 to 17 years of age for each child.
Post: Who We Were
Link to comment from November 27, 2021
There are things to buy where used, inexpensive, or basic models will fulfill your needs. There are other items where is makes sense to splurge for the latest and greatest. The challenge is knowing which is what. And above all, avoid purchases that are totally unneeded.
Post: Good Enough Tech
Link to comment from November 13, 2021
My dad always owned a few stocks that never went anywhere, but they were fun to look at back when newspapers published daily stock market prices in eights. This kept a ten year old busy. In high school dad transferred a few stocks to me that never went up in price. After college and some years of working I sold those two stocks just before they took off in price. Working thru local brokers was so expensive the average Joe could not trade, but only own for a long time. Like watching grass grow, . Then came the internet, cheap commissions and the common man was on an even footing with the Big Boys. After some years of pain and scars, I got serious about learning to trade, and discovered OPTIONS. Now I sit at home and generate as much money as I need to pay the bills. There is so much money floating around in the USA and the world, I find it easy to tap in and have some of it stick to my fingers. I try to never get greedy, just earn what I need and be grateful. What a country !!!
Post: How did you get started as an investor?
Link to comment from November 6, 2021
Wow, what a question! I sit here at my desk, on my second cup of coffee in the darkness as the sun has not yet appeared. I ponder this dilemma and come up with a few cute answers, but . . . . the reality is if something of mine was lost, stolen or other wise disappeared would it bother me? NO, it would not. The bottom line is, if I need something I will just go buy it, even if it is the second time I bought it. Bottom line is, the only thing of some value is me. And the value has nothing to do with dollars, but I keep going, best I can. 71 and counting.
Post: What’s your most prized possession?
Link to comment from November 6, 2021
Took me a few minutes to understand the challenge. Love it. That puts everything in perspective. Thx.
Post: Is it possible to have too much money?
Link to comment from November 6, 2021
All autos cost money to buy, own, finance, repair, register, insure, and property taxes (here in Connecticut). If you need basic transport you can easily skimp. If you need to tow a heavy boat, or transport fire wood and make dump runs you need a larger, more expensive vehicle. And if the spirit moves you, and you have some extra unused cash, you can treat yourself to a stick-shifted sports car to run on winding country roads, with the top down and your hair blowing in the wind. Go for it - live a little - enjoy. No quiet electric autos for me. Electricity is for light bulbs.
Post: Fit to Be Bought
Link to comment from November 6, 2021
Topic: Seeing Visions Jonathan, I like your article, and it is somewhat of a departure for your writing to wander to "mental tricks" to help folks reach their goals. I have been an athlete my entire life and into trading/investing for some decades. You mentioned being "in the zone" and then said you can never do that. In my opinion you just skipped over the most powerful talent a person can have. I have been in the zone many times during athletic competition and it is amazing how a person can perform when in the zone. Performance goes right off the end of the scale. It is only in the last ten years or so that I have come to believe that being in the zone can be used for trading and creating unusual amounts of profits. This is not the place to get into more details, but concentration strong enough to get a person into the zone is well worth learning for anyone who trades.
Post: Seeing Visions
Link to comment from August 28, 2021