This is a scary subject
Only 31 member took the poll. Granted we've got some young guns here, all good.I know I never thought about it when I was younger.
Being a small biz owner, my future lie's in my own hands. I don't consider my cars, gun's, toy trains, and old signs as investments. Although they do have some monitary value. I've been through 3 market downturns. And lost allot of $$$
After the second one I decided to get involved. Sending money in to mutual funds that weren't being monitored just didn't cut it anymore. A prime example was "round 2" set up by a major brokerage house and monitored by a friend of my brothers no less. So as markets plummited instead of moving money to different funds he just let the ship sink so to speak. He could have moved the money into a (bond (for example)) fund or something. I wouldn't have made much..... but I wouldnt have lost anywhere near as much!
I really think this is a problem many of us face. We send in a check, (or its taken from our check)and because its not 6/7 figure money nobody is watching. There is NO PERSONAL INTREST in your well being coming from typical brokers or your HR department. Take this as a warning I learned the hard way twice!!
I suggest getting personally involved. ITS YOUR MONEY! I saw the economic downturn coming, it affected my shop starting in '07 and got steadily worsse through the mid point of '10. But for round 3 I got hooked up with a different financial guy. I meet with him about every 6 monthe for 15-20 mins or so. Just to get input and "move " things around if needed. (mutual funds)
Then when the last one hit us (07-10) I got into stocks. Talk about being a newbie (that means dumbazz). But I'm learning! And there's tons of info out there on the net. Take the time, if you can read posts here you can read posts elsewhere! I undersand allot of what Brad (jh27nob)was saying about dividends. Let KO and CAT (coke and catapillar) pay you for owning their stock. Granted this is just an example. But I did get involved in the stock market. No you dont have to be mega bucks to start.
O'l BIGS is by NO means a financial expert, and who knows what the future will bring, all I can say is get invoved. Soc security is a dead horse IMO and was never meant to be sole income.
