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  • #16
    Everyone should know what SORR 3-5yrs prior to Retirement or you could be in trouble

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    • #17
      Originally posted by Hatton View Post
      You are doing great. Are you wanting to actually retire in 10 years or just be in a position to retire? I think keeping a mortgage is fine for now. You do not want this if you actually retire. You need to think about what you would do for health insurance post work. Lots of super savers keep working part time to keep health insurance. Gradually add BND in your retirement accounts. VTSAX is just fine for your equity position.
      Yes. As she described: VTSAX is great.

      1. Ignore noise. people at work are generally fools who pick stocks, day trade etc.

      2. make an IPS (does not need to be complex)

      3. pay down mortgage some and / or add bonds if you want to lower risk and diversity

      4. 100% VTSAX is good for the young with long time horizons (> 10-20 years) consider some bonds if you want to smooth the ride.

      Consider a 3 fund portfolio if you want to diversify further.
      https://www.bogleheads.org/wiki/Three-fund_portfolio

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      • #18
        Thanks all.

        I should have clarified. I would like to reach FIRE by 2027, but I plan to keep working part-time to cover annual expenses, employer sponsored health insurance, HSA, etc.

        I will look into an investment policy strategy plan.

        Appreciate the support to avoid the work chatter. It sounds like tons of people are killing it on stock picks or random business investments.

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        • #19
          Originally posted by whitemagic View Post
          Thanks all.


          Appreciate the support to avoid the work chatter. It sounds like tons of people are killing it on stock picks or random business investments.
          They never seem to humblebrag when they lose money...

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          • #20
            Originally posted by whitemagic View Post
            Appreciate the support to avoid the work chatter. It sounds like tons of people are killing it on stock picks or random business investments.
            Remember that a) people only talk about their wins, not their losses, so the chatter is highly biased; and b) we're having quite the bull run and it's easy to pick the "right" stock right now. That works right up until it doesn't. The same people that are buying high right now are the ones who are likely to be selling low at the next correction.

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            • #21
              Originally posted by whitemagic View Post
              Appreciate the support to avoid the work chatter. It sounds like tons of people are killing it on stock picks or random business investments.
              If you need to scratch the itch, put 5% of your investments, or some other arbitrary small number, into a “play money” account. And stick to your new IPS with the rest.

              My IPS for now is 100% equity between VTI and VXUS (and their equivalent options in my 401k).

              I took less than 10% of my investments and put it in TSLA, GBTC, a few other individual stocks, and some leveraged ETFs starting 2 years ago. I didn’t trade a ton so it was still largely buy-and-hold, and that account was up 2000% as of 1/1/2021. It helped with my FI quest but I felt really smart and was wondering why I have money sitting in my boring index funds when I could have reached fat FI by now had I been more bold. That account is now down like 20% YTD despite making some favorable trades (it could have been worse). Meanwhile VTI is up 20% YTD so I now understand why I got lucky (got in at the right time, didn’t get out at the right time, etc). Now I feel great about staying the course.

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              • #22
                Originally posted by whitemagic View Post
                Appreciate the support to avoid the work chatter. It sounds like tons of people are killing it on stock picks or random business investments.
                There's a very good chance that you're still beating them with your boring index fund.

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                • #23
                  It all depends on your risk tolerance. VTSAX and chill will keep you on your road to success especially with your big shovel.

                  Index funds are average returns and average risk. You can get better returns for more risk, but why change your plan if you're ok with what you're currently doing? Create your financial plan and stick to it.

                  If you do choose to take more risk and pick stocks or private business investments, then do so with a small amount to not derail your plans. But definitely do your own research and not the advice of people in the doctor's lounge. There's a reason why they're still working and hanging out in the lounge instead of sitting on a beach somewhere.

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                  • #24
                    I would highly recommend getting into individual stock picking and option plays in some capacity. If you couldn't care less about stocks and want to sit it and forget it then leave it in Index funds. But if you are getting into individual stocks plays I would start small, Maybe even a few thousand as play money. If you are looking to FIRE after 10 years of working as a doctor, then the vast majority of your life, is going to be spent "maintaining" that nest egg (aka a potential stock picker). They way I see it you have 10 years to dabble into stocks and options and determine a great hedging strategy which can even help to turn into a second job once you fire and significantly increase your returns.

                    I know about 10 stock pickers in my circle. The meme stock chasing noobs are the only one not beating the indexes day in and day out.

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                    • #25
                      I recommend reading Jack Bogles little book of common sense investing. It has great examples of mutuals funds that have died because they failed. These were funds by large investment firms with professionals managing them. To think that we can individually (on average) do better than index funds is foolish. Gambling is fine, if you only gamble what you can afford and are able to lose. However, if you are friends with Jared Kushner and Trumps wins back the presidency, then yes take Jared's stock pick recommendations.

                      On the flip side of all these people saying to gamble because you can't lose, my neighbor actually has no money in the stock market now as he was trying some risky investments years ago and lost a ton of money. Now he sticks to his business income only.

                      Index funds give you your fair share of market returns, no more, no less. You are going to be very wealthy keeping it simple.

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