UnThreaded | Threaded | Whole Thread (10) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: OldOne Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75772  
Subject: Re: long, long term investing Date: 12/30/1999 10:41 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
If you are completely convinced you are always going to be content working for someone else and having them make fundamental decisions about your life then just put the money in an index fund and be done with it.

By putting a few hours a month into investing, in less than 10 years I have gone from having almost no savings to being almost independent. Darned good thing too, because I work in a declining industry and may need to be on my own sooner than I planned when I was 20.

Right now the job picture looks pretty good in most places, but when the economy takes a downturn, and it absolutely will do this more than once in the next 45 years, you will stand much taller with a sizeable portfolio than without one.

Many career paths that were hot 30 years ago are now dead ends, and believe me, spending a few hours a month tracking my portfolio at a time of my choosing, in my own home, is a lot better than learning a new career late in life.

Plus, I am beholden to no one, can never be fired from being manager of my own portfolio, and will never have to go looking for a job with hat in hand.

Look upon managing your own portfolio as being similar to owning a business of your own, except the the odds are stacked in your favor instead of against you. Something like 80% of small businesses fail in the first five years. I would bet that 90+% of the people who have been following the Fool for 5 years are sitting on a pretty sizable chunk of cash (well O.K., stocks then), and have a lot fewer wories than most.

Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (10) | Ignore Thread Prev Thread | Prev | Next | Next Thread


The Retire Early Home Page
Discussion on accelerating retirement day.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Managing Your Wealth
Our own TMFHockeypop from Rule Your Retirement fame on the TV show Managing Your Wealth.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Deranged Monkey Criticism

RadioShack Afloat on a Sea of Financing
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.