Mortgage/Retirement question
- Thread starter pfgemployee
- Start date
Just buying an individual stock was pricey. Trying to think back but first you had to buy even Lots of 100 shares of a stock. On top of that the first brokerage trade was buying 100 shares of Casey stock and pretty sure the broker charged ~$120 (~5-6%) for that one transaction. I think they'd be sent to jail these days for that kind of charge.
Edit: with some additional research that doesn't appear to be the standard. That may have been the ripoff "full service" broker charge. There is a reason I opened an Etrade account a couple years later.
Edit: with some additional research that doesn't appear to be the standard. That may have been the ripoff "full service" broker charge. There is a reason I opened an Etrade account a couple years later.
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Schwab has relatively low minimums on a lot of their funds
Several funds will have minimums of X amount or Y per month. Some will let you put 50 dollars in initially if you continue yearly.
As others have said, the most common minimums are a couple thousand dollars, then the monthly investments minimums are much lower. However, if you're investing anything less than $500 per buy order, the fees are going to erode your investment anyway - unless you're buying directly from Fidelity, Vanguard, Etc. If not, you might want to think about building up a couple months worth of cash before buying the mutual funds.
Sophisticated? Go to Fidelity or eTrade or Charles Schwab and scoop up an ETF that mirrors the S&P 500
I keep my emergency fund invested in Hormel and Remington
You'll have to give me proof of that. I do not believe he would do/say that.
I will usually hear him in the tractor or combine. So it was spring or last fall. Someone pressed him for what funds were returning his 13% returns he was mentioning. Dude pressed him the correct way, most times he would have just hung up on that type of guy. He must have had a weak moment but he finally broke and mentioned it. Right after he started using 12%.
You've already got a loan for your house, car, etc. Probably at a pretty good rate to boot.
What are the rates on retirement loans these days?....
And I say this being very debt averse.
Focus on creating different buckets that are taxed differently. 1/3 fully taxable, 1/3 partially taxable, 1/3 not taxable.
Ok great, then what do you do during a 20 year downturn for US stocks while commodities rule the day?
Well someone needs to yell at yahoo and update from 3,000 to closed. That is annoying. I see that it is advised by Primecap. Is that a separate company or is it owned / run by Vanguard?
Edit: Found this somewhat interesting article on them and they seem to be relatively unknown but well regarded. https://www.kiplinger.com/article/i...ecap-best-stock-pickers-youve-never-seen.html
I completely understand why the funds do it but still really defeats the purpose.
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Write a fiction novel about how the stock market had a 20 year equities dip while commodities ruled the day.
Live off of the movie and TV rights. Retire in the Hollywood Hills.
What do you mean by "retirement loans"? Assuming you mean taking a loan from your 401k, the rates are set by the plan administrator and must be "reasonable". I think a lot of plans just use a simple formula like prime + 3% (or similar).
Regardless, I would never recommend someone take a loan from their retirement plan. Never. First off you are taking money out of the market. Secondly, you are going to be subject to double taxation on the interest you pay on the loan.
There are still a ton of A share (i.e....front loaded) funds sold out there. This is how most commission based financial "advisors" get paid....and there are a lot of them out there selling to people that simply have no interest or desire to manage their own money.
