Roth Ira

[mmmbeans]

Define more involved and I can steer you to some good reads.

I'm looking to better understand the markeplace an begin to try and understand what makes individual sectors tick. "Why" things do what thy do... As vague as that sounds...

[pstall]

hmm, that is vague. lol

while i cobble some books for ya beans, if you want a good macro view and get a better pulse of sectors, watch Cudlow& Co on cnbc. he does a good job of giving insight into the big picture and sectors as a whole.

[mmmbeans]

I'll look into it. Btw Thanks for that wsj book. Read it on your recommendation.

[pstall]

So I should be buying right?

yes, just don't go all in.

[thefuzz]

As Epi said, most people struggle with reading and writing, basic arithmetic, etc, you think they could handle this?

Hate to say it, but the world needs ditch diggers too.

[Davidson Deac II]

Hate to say it, but the world needs ditch diggers too.

We call them Cowboy fans. :)

[Camdemonium]

I'm not saying materialism defines true happiness.

But I'm saying the old adage of money can't buy you happiness is generally wrong.

What is the main reason people fight and stress? Money.

What is the main reason we don't have the freedom to do the things we want? Money.

Money buys you freedom. Freedom is happiness.

Again this discussion is getting off topic but money only allows you to do those things if you perceive them as making you happy, but it eventually catches up. Some people need big houses, fast cars, nice clothes, etc to feel happy about their life.

Others find happiness in other areas (having a nice family, friends they care about, helping others, etc). I have a lot of friends that right out of college got $100k+ jobs but hate their life because all they are doing is chasing the dollar.

I'll give you that NO money could lead to unhappiness, but I don't think the balance in your checking account and happiness are directly related.

I'm gonna go out on a limb and say watching his daughter graduate college is going to be a happier moment in Saltman's life than the time he got his first new car.

[Davidson Deac II]

I'm gonna go out on a limb and say watching his daughter graduate college is going to be a happier moment in Saltman's life than the time he got his first new car.

Just want to point out that both of those things require money. And in fact, the graduating college might require a lot more, unless she got a scholarship.

[Happy Panther]

Again this discussion is getting off topic but money only allows you to do those things if you perceive them as making you happy, but it eventually catches up. Some people need big houses, fast cars, nice clothes, etc to feel happy about their life.

Others find happiness in other areas (having a nice family, friends they care about, helping others, etc). I have a lot of friends that right out of college got $100k+ jobs but hate their life because all they are doing is chasing the dollar.

I'll give you that NO money could lead to unhappiness, but I don't think the balance in your checking account and happiness are directly related.

I'm gonna go out on a limb and say watching his daughter graduate college is going to be a happier moment in Saltman's life than the time he got his first new car.

Exactly, you may not have read my post. It isn't pure materialism that makes me happy.

It is the freedom to know that I am not locked into a job I hate.

The comfort to know that my kids can go to college and I can get the best medical care if they get sick.

I am free to hop on a plane tomorrow to go anywhere in the world.

And I can take care of family members if they get sick or in trouble.

Money buys you freedom and time and those things make people happy.

[Camdemonium]

More power to you then. If that's the life you choose and are successful at it, there probably isn't anything better.

I don't think that applies in this situation because that's not his path. He's looking to save for retirement and obviously doesn't have the experience you do in this field.

I'd say you are in the minority in your success, wouldn't you?

[Kitten Diver]

Exactly, you may not have read my post. It isn't pure materialism that makes me happy.

It is the freedom to know that I am not locked into a job I hate.

The comfort to know that my kids can go to college and I can get the best medical care if they get sick.

I am free to hop on a plane tomorrow to go anywhere in the world.

And I can take care of family members if they get sick or in trouble.

Money buys you freedom and time and those things make people happy.

People that are the happiest are the ones that don't have to worry about money and aren't defined by it. I'm pretty sure that's what you're saying.

There is a reason people in the upper class seem to have higher divorce rate than the middle class. Greed and never being satisfied.

The people that can do anything they want and sometimes do, but mostly they are content to sit on the porch, read a book and enjoy the day. That is what I see as the people that have won.

[pstall]

I view money as a tool, not as a status symbol. Tools, if used incorrectly can hurt you. If used properly, can accomplish and build stuff.

It's when people let money, or the lack there of, define them is when you get in trouble.

[Happy Panther]

Also you get better hookers with money.

[liljah8303]

LOL I live my life exactly how I want it to be. If you really think having more disposable income is going to make you feel better about yourself and make your life better, you are mistaken.

Considering Saltman has a new daughter, is going back to school himself, got a late start on saving for retirement, has a wife to take care of, and I assume more kids in the future, he might not be as ready to take on added risk that you are.

He wants to have his kids set up and be able to live a nice life during retirement. If he's trying to make Jay-Z money, you might be on to something.

Maybe it's worked out for you. Maybe you are some house flipper to the stars. You're a mogul. I'm glad it's worked out for you but his situation seems a little bit different. To each his own I guess.

I would suggest that owning beats renting over the long term. A mortgage is a debt and creates negative cash flow for the length of the mortgage. The debt is also building equity as the mortgage is paid off over the years. Once the mortgage is paid off, a person now has equity in the home and should be worth more than the house was purchased for. A person has to live somewhere. Renting creates negative cash flow and will as long as a person rents. That is why I said a mortgage as good debt.

What do people want more of? Time and Money. Thats a fact. I dont care who you are. The reason your friends are miserable with their 100k jobs is because they trade their time for money. One without the other is useless.

Who is talking Jay-Z money? Whats risky? Risk is putting your money in someone elses hands and letting them manage your money. Thats risk. Risk is not being educated.

Did you know that the dow is up like 120 points from the year 2000. Thats risk. Thats playing the game that losers play.

What do savers do when hyper-inflation get here? Its coming. All these people who have saved are in for it.

Whats good about paying 200k plus in interest for a home mortgage? The house will never be worth more than it was paid for.

1) The interest on a 30 year loan makes you pay 2-4 times what the face value of the home was. you buy a 120k home, at 5% interest rate, over the 30 years you really pay right at 300k for the house. Seems like alot of people would be better off with that 200k in their pockets.

Your mind set is the mind set of old my friend. Those thoughts were good during the industrial age, but we are now in the information age. Its time to get informed.

Colleges do a poor job of teaching financial ed too. The school system is set up in a way to teach people how to work for money (Keep in mind earned income tax is the highest) rather than money working for them(Passive being the lowest form of taxable income).

School looks like this-

Pay 100k to learn how to make 60k. Work for 40 years and run the rat race, then hopefully retire. Our economy couldnt work like this....

Pay 35k learn how to make 100k and retire in 5 years. There wouldnt be enough people paying into the system, and the govt couldnt continue their spending spree.

Its all a conspiracy. Were going down in flames