Money Matters
strickland8052
member
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Good books on investing?
Any recommendations?
Re: Good books on investing?
The real question is what do you want to invest in? If it is large cap stocks then get a book focused on that. If it is day trading, fine a how to book for that. Are you going to do Commercial Bonds? Muni Bonds? or Federal Bonds? How willing are you to lose money over the short term? What return are you looking for? Do you want to invest yourself or have someone manage it for you? How long do you want your money tied up? A few years or decades?
There are a lot of questions that need to be thought of prior to investing. The best advice I have ever been given by multiple people is don't invest in anything that will not allow you to sleep at night. That is one reason that I would never go into real estate, I don't want to have to deal with renters and another house etc.
Thanks! I'll check out Rich Dad, Poor Dad. I've heard good things about it.
I definitely want to manage it myself. I just feel better knowing that the power is in my hands, and I believe that no one is going to care as much about MY money as I would. Right now I have everything in mutual funds, because I just wanted to let it be on "autopilot" until retirement. (Of course I would "check" on it every year, but autopilot for the most part.)
However, lately I have been thinking about investing in more stocks and becoming more active with my investments. I have a lot of free time at work (my job is crazy busy 3 months out of the year and completely dead the other 9 months). I read the news all day, so I might as well put that awareness to good use? I'm thinking that I should put about 10% in stocks that I would select, just to see if I can pick enough winners to outperform my mutual funds. If I do well over time, I could gradually increase my stock to mutual fund ratio. I'd like to read some beginner/ intro books on the stock market, so that I'll have a better idea of what I'm doing. Of course, I realize that I probably will not outperform my mutual funds in the beginning (and probably even lose some money), but I'm OK with that because I know there is a learning curve. My hope would be that I would eventually learn a new skill through failures and successes, so that I could take my retirement into my own hands.
I am an engineer so if I ever start to invest in stocks on my own I have to be careful not to invest in companies that are suppliers to mine or that we are suppliers to since there is a chance that I may get inside information that could cause issues.
Most people when getting started in individual stocks tend to pick the ones that they buy the product of. My sister and her husband do that with their individual stocks.