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#21
If you use charts, look at DPW. Back in Oct. I was watching LTBR and DPW. Both were on the support lines. DPW- .50 and LTBR-1.05....
I bot LTBR. Bot and sold a couple a times, with around 10% each trade. Not bad I guess. DPW made it to $6.00...............

I also did pretty good on stock options. I have watch list on 24 penny stocks..................
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#22
AI've always been a 'slow and steady' type of guy.  At one time I tried to time the market, but always seemed to end up losing.  The only time that I used a margin account was because I need to buy puts so that I could set the sell price for some company options that I had.  I needed to set the price because I needed to raise money to exercise the options as we were not allowed to buy/sell in a single transaction.

I held several dividend stocks such as ATT, Verizon, Southern Company, Duke, etc.  I always kept those in automatic dividend reinvestment.  Whenever I exceeded a certain amount in my checking account, I would send a check to one of those companies for extra purchases.  Since they were in DRIP programs, I was able to purchase more shares without commissions.  The compounding effect was quite lucrative.

Whenever I got a pay increase, 1/2 of the increase went to automatic saving/investing.  I reasoned that I didn't need the money before the raise so I didn't need all of it now.  Also all of the money that I got through windfalls such as company options and bonuses went 100% into investing.  This turned out to be a good strategy because although the companies had promised a pension, the cash value of the pension was only $18K.  I did not have a 401K until I was 50, so if I had not invested my windfalls, I would be really in trouble now that I've retired.

I never had debt other than my mortgage and never carried a balance on my credit cards.  Also my wife and I are not prone to reckless spending.  Neither of us enjoy shopping.   Because of this behavior, we were able to regularly build up an excess of cash in the bank which enabled us to continuously increase investing. 

By the time I retired, I had exceeded my financial goals for retirement.  I am not yet taking SS, and am living on a tax exempt municipal bond ladder.  The ladder spans enough to pay for my next four years of income needs.  I am delaying SS and using the bond ladder because I want to keep my AGI low so that I can do partial conversions from a traditional IRA to a ROTH IRA. I will  start SS and stop the conversions when I reach 70. 

My portfolio is now managed by a financial team.  I am what is called an 'institutional investor' - whatever that means.   I turned the direct management over to them because when I got direct control of my 401K, I became too emotional and lost money.  So far I have been pleased with their efforts as my portfolio is growing even though I am now withdrawing money from it. 

I am able to give a lot to charity.  Besides my church, I support the local food bank and Habitat for Humanity.  I have always lived by the money rules of:

1)  Live on less than you make
2)  Avoid debt
3)  Save 15-20% of what you make
4)  Give away at least 10% of what you make
5)  Live on the rest

and

6)  Be grateful for your blessings...
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The following 1 user says Thank You to mpruet for this post:
Vesper (12-18-2017)
#23
Jeff Foxworthy once something about rich people have retirement plans but us rednecks....we got the lottery!

And here ya go:

https://youtu.be/O6EsgCbTtmc
Never trust a camp cook with lots of shiny new pans...
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#24
(12-17-2017, 11:27 AM)tx2sturgis Wrote: Jeff Foxworthy once something about rich people have retirement plans but us rednecks....we got the lottery!

And here ya go:

https://youtu.be/O6EsgCbTtmc

Rolleyes
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#25
I know a lot of poor people, including myself that has 401Ks, company pensions and or IRAs. It's up to you, on how you want to invest. From 1% to 15% of your income in a 401K. My wife, in the last few years takes out 15% plus the company matches her. All I can say if you switch jobs often, then open yourself an IRA account. I use variety of different investments, which you do in most IRAs.
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#26
I'm also on the 401k train....or,  I was.

Just google hidden 401k fees sometime....it will shock you.

My money is in an IRA now.
Never trust a camp cook with lots of shiny new pans...
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#27
It's usually the mutual funds that charges fees and in a 401K, you have a choice of funds. If you read their prospectus carefully, the fees should be in it.
The load funds has a lot of fees. I like the no-load funds less fees. About 20 years ago, some of the no-load funds got got greedy. They put a 12B-1 hidden fee in some funds.
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#28
(12-18-2017, 02:30 PM)gojo Wrote: It's usually the mutual funds that charges fees and in a 401K, you have a choice of funds. If you read their prospectus carefully, the fees should be in it.

I'm actually referring to all the hidden fees, that are assessed by the plan administrators.

If you google 'hidden 401(k) fees', you will find more than you want to. 

Be brave!
Never trust a camp cook with lots of shiny new pans...
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#29
(12-17-2017, 08:21 AM)gojo Wrote: If you use charts, look at DPW. Back in Oct. I was watching LTBR and DPW. Both were on the support lines. DPW- .50 and LTBR-1.05....
I bot LTBR. Bot and sold a couple a times, with around 10% each trade. Not bad I guess. DPW made it to $6.00...............

I also did pretty good on stock options. I have watch list on 24 penny stocks..................

LTBR, starting yesterday, it must of got a hold of some rocket fuel, lol....................
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#30
Regarding fees: S&P 500 index fund. There has yet to be a fund manager who can CONSISTENTLY outperform the index over the long term. But they'll all charge you for failing to do so.

Also, dollar-cost averaging is your friend. Assuming your horizon is 20+ years out, set it and forget it.

If you're working, ALWAYS contribute enough to get the full 401(k) match (assuming your employer offers one).

Trying to beat the market by trading individual stocks is insanely difficult, even for professionals. Could you make money? Sure. But it is very, very risky.
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