Retirement Question

[RainMan302v8]

Retirement is not too far off, and I believe its time to learn about finance. 401K and other investments have done well, but I would like to learn more about dealing with large amounts of cash. Are there any good books or sites that offer solid, reliable information about how to manage money? This represents many years of work and will be the source of comfort in coming years.<br />What have you learned and how effectively have used the information?

 

[LubeDude]

Re: Retirement Question

Sorry, thats never been one of my problems!!

 

[roscoe]

Re: Retirement Question

Send it to me, I have friends that deal in large amounts of cash, they will....um.. invest it for you.

 

[AW]

Re: Retirement Question

I have only one piece of advice: be careful about taking advice, especially from professional advisors.

 

[aspeck]

Re: Retirement Question

Advice should come from a professional that can assess your situation and doesn't have a large vested interest in what will happen with your money (ie, flat fee vs commission). I will say this, for retirement, growth of assests are PROBABLY not an issue, what you will want is more income generating investments. You will also want a safe mix of stocks and bonds - preferable more blue chip, low risk stuff.<br /><br />Ask around the people in your area who they use, who they like, and who they trust. Then talk with those advisers and see what they have to offer. Refer is the best advertisement. If you were in my area I would hook you up with a terrific adviser. He works for Merrill Lynch and although I am not excited about Merrill Lynch and their fee structure, my adviser is great and worth every penny I have paid.

 

[Bob in Calif.]

Re: Retirement Question

RainMan.........<br /><br />You really have something to look forward to. I started working and paying federal taxes when I was 14 years old and have been paying them ever since.<br /><br />It sure payed off for me, as I will have been retired 8 years, come the end of March. I planned ahead for quite awhile and was able to retire at 51 and I haven't looked back yet. I just told them, "I'm going to spend less, longer."<br /><br /> In my opinion, retirement is underrated. <br /><br /> ...Bob in Calif...

 

[jee70611]

Re: Retirement Question

All I can say is DO NOT put all your "eggs in one basket." Real Estate is almost always a secure investment. You could possibly invest in a quadriplex or something that would make you some money. Anyways, be careful and good luck. <br /><br />James

 

[JoeW]

Re: Retirement Question

Rainman,<br />On Saturday and Sunday afternoons between 1:00 P.M. and 4:00 p.m. Bob Brinker hosts a financial talk show which covers such topics. It's called Money Talk. I highly recommend listening to Bob. If you don't hear your question asked, you can call in. I recommend listening to him for a couple of weeks first. <br />-Joe

 

[TPD211]

Re: Retirement Question

I'm starting to think about retirement also. <br />Been a cop for 26 years and still have 11 to go till retirement. <br />I'll retire at 56-57 years old. <br />My department has its own retirement board, I was a member for 8 years, and I contribute to our deferred (sp?) comp plan. I'll join the "drop" plan when I have 5 years to go.<br />I moved my deferred comp around last year from mid-aggressive growth to a lesser volatile investment. Last year I gained like 100 bucks from the comp plan. Most guys I know lost their backsides but it looks like its turning back around. <br />I'll be in the same boat after the drop plan, I'll have a chunk of cash to invest, spend etc. on top of retirement checks.

 

[JB]

Re: Retirement Question

Ahoy, Rainman.<br /><br />"SMART GUIDE to Managing Personal Finance" by Alfred and Emily Grossbrenner Is an excellent primer. It helped me a lot.<br /><br />I agree with jee that real estate is an excellent and usually safe investment, but for long term capital gains only.<br /><br />Being a landlord is a LOT of hard work and usually a lot of frustration, too. Your money does work for you, but only if you work at it, too. It is like another job. I don't recommend it.<br /><br />Mortgages to very low risk debtors are good for term income. They have served me well. 4 of 5 have paid on time every time and the 5th mortgage was easy to sell at a modest profit.<br /><br />I haven't even tried to select stocks or bonds, but have an advisor who made selections for me that are about as good as anything on the market. <br /><br />Getting into the trading markets without a degree in the area is like playing poker with strangers . . . don't do it.<br /><br />Good luck.