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sabrinamariI listened to Brian the Money Guy's latest podcast today. [Check out his show notes and podcast here: http://www.money-guy.com/time-to-buy-buffett-vs-cramer]
I wish everyone who is at least 15 years from retirement would check out what he has to say. Brian is a fee for service financial planner who helps people manage their money, and he took this week's podcast to explain why these plunging, volatile markets are so good for:
* New investors
* Young investors
and...
* Anyone who is a "buyer" rather than a "seller"
"Buyers" are people with plenty of time to retirement who need to build up their portfolios for the future. They don't need or expect to draw on their investments anytime soon. Instead, they need to either create or build up a currently small to medium-sized retirement portfolio.
"Sellers" are folks who will need to draw on their investments within the next 5-7 years, or those close to retirement.
I bet most of my friends are buyers, not sellers.
For you, this volatile market can be a godsend. Because so many people are terrified, you have the opportunity to buy funds and equities (stocks) at bargain basement prices. There's a huge, huge sale on Wall Street, and you can benefit from it, even if you only have a small amount of money to spend. The best way to do this is through dollar-cost averaging (also called dollar-cost investing) in an IRA, 401k or 403b. [See this post to learn more about dollar-cost averaging: http://sabrinamari.livejournal.com/384724.html]
If you don't yet have an IRA, but you do have a 3-6 month emergency fund reserve (maybe closer to 6), it's probably time to open an IRA now. My next post will offer some guidelines on opening a do-it-yourself, smart, super-low-cost IRA online.
I wish everyone who is at least 15 years from retirement would check out what he has to say. Brian is a fee for service financial planner who helps people manage their money, and he took this week's podcast to explain why these plunging, volatile markets are so good for:
* New investors
* Young investors
and...
* Anyone who is a "buyer" rather than a "seller"
"Buyers" are people with plenty of time to retirement who need to build up their portfolios for the future. They don't need or expect to draw on their investments anytime soon. Instead, they need to either create or build up a currently small to medium-sized retirement portfolio.
"Sellers" are folks who will need to draw on their investments within the next 5-7 years, or those close to retirement.
I bet most of my friends are buyers, not sellers.
For you, this volatile market can be a godsend. Because so many people are terrified, you have the opportunity to buy funds and equities (stocks) at bargain basement prices. There's a huge, huge sale on Wall Street, and you can benefit from it, even if you only have a small amount of money to spend. The best way to do this is through dollar-cost averaging (also called dollar-cost investing) in an IRA, 401k or 403b. [See this post to learn more about dollar-cost averaging: http://sabrinamari.livejournal.com/384724.html]
If you don't yet have an IRA, but you do have a 3-6 month emergency fund reserve (maybe closer to 6), it's probably time to open an IRA now. My next post will offer some guidelines on opening a do-it-yourself, smart, super-low-cost IRA online.
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no subject
Date: 2008-10-30 02:20 am (UTC)no subject
Date: 2008-10-30 04:56 am (UTC)Did you mean that the other way 'round?
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Date: 2008-10-30 11:39 am (UTC)no subject
Date: 2008-10-31 01:49 am (UTC)no subject
Date: 2008-10-31 10:45 am (UTC)