Search found 49 matches

by MiloMoney
Mon May 25, 2020 3:14 am
Forum: Investing - Theory, News & General
Topic: Examples of why NOT to hold individual stocks
Replies: 93
Views: 7386

Re: Examples of why NOT to hold individual stocks

jb1 wrote:
Sun May 24, 2020 8:26 am
What about blue chip stocks in general? although Id say Im 85% index funds, I do own:
Paypal
I hope my colossal Paypal fees serve you well :beer
by MiloMoney
Thu Apr 30, 2020 10:48 am
Forum: Personal Finance (Not Investing)
Topic: What to do with extra money?
Replies: 20
Views: 1799

Re: What to do with extra money?

cashisking500 wrote:
Wed Apr 29, 2020 11:47 am
- We have $11,000 left on a 0% car loan. Pay it off?
I may be showing my financial inexperience by asking this, but how did you get 0% auto?

Respectfully sent,

Milo.
by MiloMoney
Wed Apr 15, 2020 12:33 am
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

I am back in the target date fund! Thank you to the Bogleheads family for helping me find the way!

Image
by MiloMoney
Fri Apr 10, 2020 4:45 pm
Forum: Personal Consumer Issues
Topic: Laptop buying advice
Replies: 41
Views: 3071

Re: Laptop buying advice

I would check out backmarket.com. They are a refurbished marketplace. I got my iPhone on the site for a steal.
by MiloMoney
Thu Apr 09, 2020 8:25 pm
Forum: Forum Issues and Administration
Topic: Kiddie Bogleheads / Boglehead Seniors?
Replies: 12
Views: 1108

Re: Kiddie Bogleheads / Boglehead Seniors?

I would guess that the median age of members would be 50 or higher. Most younger people are too busy paying off college loans or saving for a down payment to look into investing. This puts them into their 30's or higher before they might be looking into an investing forum. Live Below Your Means, sa...
by MiloMoney
Thu Apr 09, 2020 7:46 pm
Forum: Personal Consumer Issues
Topic: Charity during the pandemic
Replies: 73
Views: 4462

Re: Charity during the pandemic

I replenished my DAF account before my low-basis stock dropped further in price. I increased my yearly contribution to my church and I'll possibly make another contribution later this year, depending on how their finances are going. I contributed to the local food shelf and I'll probably make more ...
by MiloMoney
Thu Apr 02, 2020 2:10 pm
Forum: Investing - Theory, News & General
Topic: Book suggestions for a 16 year old
Replies: 47
Views: 2156

Re: Book suggestions for a 16 year old

bertilak wrote:
Sun Mar 29, 2020 6:44 am
MiloMoney wrote:
Sat Mar 28, 2020 2:11 am
"The Richest Man In Babylon"
Good choice for an excellent foundation in investing.

Just finished it the book is great!
by MiloMoney
Sun Mar 29, 2020 11:46 pm
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

Contrarian here. You are 16. I would humbly suggest that you chill out and enjoy life instead of worrying about how to get rich. Go to concerts. Buy yourself some nice sports equipment or a musical instrument or a new computer or whatever. Take the girl or boy of your dreams out for a fancy dinner....
by MiloMoney
Sat Mar 28, 2020 2:14 am
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure Part II: The next journey
Replies: 5004
Views: 434491

Re: HEDGEFUNDIE's excellent adventure Part II: The next journey

More leveraged ETF's are close to liquidating in the mREIT space: https://catalyst-insights.com/the-virus-infecting-mlps/ mREITs were an absolute blood bath today, some down almost 50%. The news is it was due to forced liquidations by a run on the leveraged ETF's above. It makes sense now the huge ...
by MiloMoney
Sat Mar 28, 2020 2:11 am
Forum: Investing - Theory, News & General
Topic: Book suggestions for a 16 year old
Replies: 47
Views: 2156

Book suggestions for a 16 year old

I am 16 years old and live in the midwest. I joined Bogleheads to get portfolio advice and lower the age of the median member. When I first registered, I thought it would be a one-time post-deal. I mean, I just wanted information on how to allocate my Roth best, but I was taken aback by the wisdom a...
by MiloMoney
Thu Mar 26, 2020 9:44 pm
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

First off, I want to thank everyone who dispensed time out of there day to advise me. Bogleheads is one of the kinder internet forums I have visited. I am 16 and aggressive in the allocation of my portfolio after comparing hypothetical growth off: Vanguard Target 2065 QQQ S&P 500 Total Stock Market ...
by MiloMoney
Thu Mar 26, 2020 7:00 pm
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

I am 16 and last year made $700 in income as a parking lot attendant as well as earning $30 a week dog walking. I am a saver and stash or invest around 80% of my income. Emergency funds: I do not currently have expenses but have $1,100 in the bank. Debt: None Tax Filing Status: Single Tax Rate: Not...
by MiloMoney
Thu Mar 26, 2020 6:28 pm
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

Net worth low 6 figures. Age 23. I think you shouldn't approach the stock market with the mindset of 'get rich someday'. I look at the stock market more as a place to beat inflation long term (if inflation even exists). Also, like @bluquark has stated, I too don't think QQQ is more aggressive. Most...
by MiloMoney
Thu Mar 26, 2020 6:26 pm
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

I am 16 and last year made $700 in income as a parking lot attendant as well as earning $30 a week dog walking. I am a saver and stash or invest around 80% of my income. Emergency funds: I do not currently have expenses but have $1,100 in the bank. Debt: None Tax Filing Status: Single Tax Rate: Not...
by MiloMoney
Thu Mar 26, 2020 6:24 pm
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

I think all would agree here that there is a basic and unavoidable level of education that must be mastered for nearly everyone to function most effectively. Despite what you might think now, at 16 years of age you are far, far away from this level of competence. This stuff must be learned (or rele...
by MiloMoney
Thu Mar 26, 2020 6:22 pm
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

It seems like half the supposed-Bogleheads who've been posting lately don't believe any of us will survive Covid-19, so maybe just enjoy yourself while you're still alive. Seriously though you're overthinking this. Having a Roth is nice, especially if somebody will be matching ((or just plain makin...
by MiloMoney
Thu Mar 26, 2020 6:22 pm
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

It seems like half the supposed-Bogleheads who've been posting lately don't believe any of us will survive Covid-19, so maybe just enjoy yourself while you're still alive. Seriously though you're overthinking this. Having a Roth is nice, especially if somebody will be matching ((or just plain makin...
by MiloMoney
Thu Mar 26, 2020 6:19 pm
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

oldfort wrote:
Thu Mar 26, 2020 11:01 am
The way to get rich is to have a high paying job.
In terms of cash flow wealth the people I know are either high level jobs (Doctor, Lawyer) or business owners. I know a few home contractors with crews who can make 150 grand in a good year.
by MiloMoney
Thu Mar 26, 2020 6:18 pm
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

Setup a Target Date Fund with auto contributions and forget about it. I was around 18 years old when the 2008 recession hit and In 2009, I checked my Roth IRA and the value was like 50% of what I had contributed. What did I do? Stop contributing. 2010 - 2012 didn't contribute at all. In 2013, I set...
by MiloMoney
Thu Mar 26, 2020 6:17 pm
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

learn how to enjoy and appreciate each and every moment of life in good times and bad times. be the person that possess the positive character traits you wish everyone else had. if you can master that then even if you only have $10 in your wallet you will be one of the richest people alive. My pare...
by MiloMoney
Thu Mar 26, 2020 6:16 pm
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

Thank you for responding! I think aggressive is the way to go; my sibling's portfolio drives me nuts. She is 60% Stocks 40% Bonds at age 18 in a general brokerage saving for retirment. I think I'm going to keep the phrase "get rich slow pathway." I love it! At your age you have the most important r...
by MiloMoney
Thu Mar 26, 2020 6:16 pm
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

It's fine to be financially motivated, but don't be short-sighted. Your highest return will come from investing in yourself. That's primarily through education. Sure, $6k into a Roth at the age of 16 is awesome, but investing that into your human capital is likely even more so. If you can do both.....
by MiloMoney
Thu Mar 26, 2020 6:14 pm
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

You can Roth before age 21. Many companies even if you get in a 18 won't let you invest in the 401K until 21. I've worked with RN's who can't contribute the first year or two after school. Right now consider how to leverage as low a cost/free college education, and pick a degree that leads to a car...
by MiloMoney
Thu Mar 26, 2020 6:11 pm
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

2. I am in a US Bank Star Savers club, I am restricted to six withdrawals a month and only get 0.005% interest is this bad? I think it is terrible. I want to change to the Sallie Mae High Yield Savings 1.4% APY is this a good idea? Should I do a money market? 3. How do I budget? 2. Most bank saving...
by MiloMoney
Thu Mar 26, 2020 6:07 pm
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

OK, Get a college education, and go to work daily, on time, and save as much as possible in all ways. Roth, 401K, any way to save. And if you do that for 30 years, you'll wake up 1 am and say to yourself, "wow I'm a millionaire". But nothing changes then because you have learned to live below your ...
by MiloMoney
Thu Mar 26, 2020 6:06 pm
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

Wiggums wrote:
Thu Mar 26, 2020 8:01 am
3funder wrote:
Thu Mar 26, 2020 7:47 am
The fact that, at your age, you're even inquiring about this, tells me that you're likely to achieve your financial goals.
+1

Good luck to you.
Thank you Chief.
by MiloMoney
Thu Mar 26, 2020 6:05 pm
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

3funder wrote:
Thu Mar 26, 2020 7:47 am
The fact that, at your age, you're even inquiring about this, tells me that you're likely to achieve your financial goals.

Thank you! :moneybag
by MiloMoney
Thu Mar 26, 2020 6:04 pm
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: Key Takeaways

https://i.ibb.co/LdHJ4P8/bart-simpson-generator.gif Key Takeaways Get back into a targeted retirement. Invest and save like a madman and let compound interest do the heavy lifting. Use the time that passive investing gives to hone my trade and earn more money to invest more. Use the time that passi...
by MiloMoney
Thu Mar 26, 2020 6:02 pm
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

I am 16, Bogleheads help me be rich one day The first thing you have to realize is that with this kind of capital and income it does not matter if you get a 0.005% interest, or 15%. You'll never make any substantial money after factoring in taxes and inflation. If you want to be wealthy the surest ...
by MiloMoney
Thu Mar 26, 2020 5:58 pm
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

You are doing a lot of things right - you are earning, saving, asking questions and learning! A roth IRA is also a great place to sock away your money right now. One thing you need to understand better is risk. All risk is not good risk. There are things you can do to drastically reduce your risk a...
by MiloMoney
Thu Mar 26, 2020 5:56 pm
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

... Thank you. You are wise. It's 1 in the morning and I would message you with a better response later. One question on bank accounts, I have had my account at US Bank for 7 years they say that my account relationship is valuable for credit and loans in the future is that true? Bottom line. You ma...
by MiloMoney
Thu Mar 26, 2020 5:51 pm
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

I am 16 and last year made $700 in income as a parking lot attendant as well as earning $30 a week dog walking. I am a saver and stash or invest around 80% of my income. Emergency funds: I do not currently have expenses but have $1,100 in the bank. Debt: None Tax Filing Status: Single Tax Rate: Not...
by MiloMoney
Thu Mar 26, 2020 3:48 am
Forum: US Chapters
Topic: [Archived] Bogleheads community discussion - Coronavirus
Replies: 4963
Views: 190955

Re: Bogleheads community discussion - Coronavirus

They closed my high school, having do classes online starting in the next couple weeks. Scary stuff.
by MiloMoney
Thu Mar 26, 2020 2:36 am
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Key Takeaways

https://i.ibb.co/LdHJ4P8/bart-simpson-generator.gif Key Takeaways Get back into a targeted retirement. Invest and save like a madman and let compound interest do the heavy lifting. Use the time that passive investing gives to hone my trade and earn more money to invest more. Use the time that passi...
by MiloMoney
Thu Mar 26, 2020 1:36 am
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

vipertom1970 wrote:
Thu Mar 26, 2020 1:08 am
80% of the best stock pickers could not beat S&P500 in a long run so might as well stick with S&P 500 and sell everything else and focus on career choice. GREAT START !!!
Thank you!
by MiloMoney
Thu Mar 26, 2020 1:35 am
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

Try earning $6,000/year for the next few years and put all of it into a Roth IRA, assuming your parents will help you out with daily expenses. Invest it all in something like a Total Stock Market Index Fund. No need for bonds or cash. Also, don't invest in individual stock funds. Far too risky unle...
by MiloMoney
Thu Mar 26, 2020 1:33 am
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

Welcome :D Have a seat for a moment. .. . . :D Do you want to be wealthy one day? Do you want to be able to someday enjoy a job that pays very high dollars? Do you want to look forward to going to work every day with passion and excitement and drive? Do you want to feel like your profession benefit...
by MiloMoney
Thu Mar 26, 2020 1:31 am
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

Simplify. You have a (relatively) little money spread around a lot. Buy a total stock market index fund, or a total world stock index fund. Then save as much as you can, for as long as you can. Add bonds in future years. And view these days as a tremendous buying opportunity. Simplicity is key is w...
by MiloMoney
Thu Mar 26, 2020 1:30 am
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

Other people will give you good investing advice. I'm going to first say that your desire to save and invest is awesome and will help you immensely as you get older. The other thing I want to say is it will sometimes be hard to not compare yourself to others--after you graduate college you'll likel...
by MiloMoney
Thu Mar 26, 2020 1:28 am
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

deikel wrote:
Thu Mar 19, 2020 7:44 am
spent a lot of time to understand what makes you rich - hint: Its not about the dollar value
Removed.
by MiloMoney
Thu Mar 26, 2020 1:26 am
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

At 16, your main objective is to aim to get a well paying job. It will be alot easier if you do. It is all about saving rate. You basically pile much as much cash as possible in your 20s and 30s. Your market return should not matter during that time. All about saving rate. Get a good degree and max...
by MiloMoney
Thu Mar 26, 2020 1:15 am
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

Great health, happiness, and having a career you love will make you the most rich. On the investment side, buy low-cost index funds often, as much as you can, and never sell them. Picking a good life partner is also helpful. Thank you for responding! Picking a good life partner is a priority. I see...
by MiloMoney
Thu Mar 26, 2020 1:13 am
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

Budget. You only need a budget if you spend more than you make. Don't expect that will be your problem. But you can search the forum for ideas. Search forum: http://www.google.com/search?&q=budget+site%3Abogleheads.org%2Fforum Four stock market lessons. Sixty+ years of academic research into invest...
by MiloMoney
Thu Mar 26, 2020 1:05 am
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

keanoz wrote:
Thu Mar 19, 2020 3:02 am
Your young and your hungry. This alone should take you far. Get a good education in something you are passionate in. Continue saving and investing aggressively and if all goes well some day you will be :moneybag Goodluck! :happy

Thank you :D
by MiloMoney
Thu Mar 26, 2020 1:04 am
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

I think you are off to a great start already. In general, maximize your Roth IRA and I would be aggressive in my asset allocation. I think I was 100% equities until the age of 40 because it was money I didn’t need and I had time to recover. Invest in your education or whatever it takes to maximize ...
by MiloMoney
Thu Mar 26, 2020 1:00 am
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

A tr fund at your age would be perfect. It would have 90% stocks and fully diversified between us and intl. QQQ gives less diversification. An online savings account might give a little more interest, but with the recent rate cuts will be low. Use something like bankrate.com to look for the best de...
by MiloMoney
Thu Mar 26, 2020 12:58 am
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

It's not clear to me that QQQ is actually much more aggressive than a target retirement. Many of the tech stocks that fill the Nasdaq 100 are now blue-chips, their biggest growth days might be over. If you want something more aggressive than Target Retirement, I would recommend Vanguard Total World...
by MiloMoney
Thu Mar 26, 2020 12:45 am
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

Re: I am 16, Bogleheads help me be rich one day

I am 16 and last year made $700 in income as a parking lot attendant as well as earning $30 a week dog walking. I am a saver and stash or invest around 80% of my income. Emergency funds: I do not currently have expenses but have $1,100 in the bank. Debt: None Tax Filing Status: Single Tax Rate: Not...
by MiloMoney
Thu Mar 19, 2020 12:13 am
Forum: Personal Investments
Topic: I am 16, Bogleheads help me be rich one day
Replies: 114
Views: 7882

I am 16, Bogleheads help me be rich one day

I am 16 and last year made $700 in income as a parking lot attendant as well as earning $30 a week dog walking. I am a saver and stash or invest around 80% of my income. Emergency funds: I do not currently have expenses but have $1,100 in the bank. Debt: None Tax Filing Status: Single Tax Rate: Not ...