Big Country Posted November 22, 2011 Share Posted November 22, 2011 I'm not trying to be a dick here but your advice has been sound advice for the past several decades. However, in a deflationary depression not so much. I'm trying not to sound like a broken record either but everyone needs to shift from what "used to work" to "what will work" in a deflationary environment. I feel like my continual "preaching" on the current and upcoming state of the global financial crisis is worth whatever flaming I will get from the few know-it-alls on here (not you) because in the end my forecasts will prove accurate. I'm adamant in my message because if I can help anyone be prepared for what is to come, that's a good thing. Trust me on this. A 529 for instance is a state ran fund for college. We are in unprecedented times and should treat our investments as such. Everyone is going broke, including state and local governments - why would you trust them with your money? I would not trust ANY entity managing my money right now - especially if your goal is maximum safety. At least with a stock (which I don't recommend) you control when to buy and sell. Any investment that relies on some other person, governement, organization or entity to manage it, is NOT a safe investment in these times. At the end of the day, when state and local governments need to default on many of their IOUs, they will only payback the debt that helps the individual lawmakers. They care not about you or me - believe that. REITs are TERRIBLE investments during a bear market. I would just like to point out that other than in item #6, where I qualified the statement with "then you could speculate", at no point in my first 5 items (well, 4 items as #5 is all about debt reduction) did I mention anything about where or what type of investment to make. The OP, and anyone for that matter, is free to make whatever investment choices they so choose. I am just advocating maximal safety in #1 by having an adequate emergency fund (can be cash under pillow if so desired, though not my suggestion), maximization of employer match/tax deferred space in #2, maximization of tax free growth in #3 and #4 is optional depending on desires of individual, but presents major tax advantages for funding of higher education costs. Quote Link to comment Share on other sites More sharing options...
frenzal rhomb Posted November 22, 2011 Share Posted November 22, 2011 I just paid off my mortgage at age 42, I know some advise against that but with the return Ive been seeing on my roth, 401k and b, I couldnt resist the guaranteed return and also the feeling of paying her off - sent the bank check yesterday to Chase and cant wait to hear zero balance owed. Now I gotta figure out whats next Quote Link to comment Share on other sites More sharing options...
Chief Dick Posted November 22, 2011 Share Posted November 22, 2011 I just paid off my mortgage at age 42, I know some advise against that but with the return Ive been seeing on my roth, 401k and b, I couldnt resist the guaranteed return and also the feeling of paying her off - sent the bank check yesterday to Chase and cant wait to hear zero balance owed. Now I gotta figure out whats next That's awesome. Congrats! Quote Link to comment Share on other sites More sharing options...
Joessfl Posted November 22, 2011 Share Posted November 22, 2011 (edited) Um, why does that woman have a microphone on? Is she taking going to immediately take my call about this optimistic opportunity right after the speech is done? Seriously, does this new service mean that current merchants are not PCI-DSS compliant already, or is that just an assumption? What are the bariers to entry for this service? If it was that big of a problem, card services would have closed this gap already. I mean, if I am a huge merchant I already put huge amounts of resources hardware and auditing into a compliant and massively-secure situation. If I am a small merchant, am I really going to pay to be above and beyord the PCI-DSS compliance levels, and why? Edited November 22, 2011 by Joessfl Quote Link to comment Share on other sites More sharing options...
Brentastic Posted November 23, 2011 Share Posted November 23, 2011 Why is that, Jackass? I've advised maximum safety by recommending to not be long stocks but to be long cash instead. i've warned of a deflationary depression that becomes more obvious with each passing day. The stock market has traded net sideways over the last 12 years while inflation has increased - that's a loss if you're long stocks. The dollar appears to have bottomed in March 2008 and looks to be in the early stages of a multi-year climb. I've been talking about sovereign government defaults since early 2010 - the news is just now becoming mainstream. I've warned of a stock market crash that will bring the DOW to at least 5K with a liklihood of 3k or even 1k - this has yet to happen YET. I'd say I've called it right so far with a market crash still in the works. What have you done other than flame me for having an unpopular view on the world economy that just so happens to be pretty spot on at this moment? Figures I get no response from a troll. Quote Link to comment Share on other sites More sharing options...
MojoMan Posted November 23, 2011 Author Share Posted November 23, 2011 I just got a very interesting email proposition from an unfortunate woman in Nigeria. I need to go to the bank to wire some $. Wish me luck. Quote Link to comment Share on other sites More sharing options...
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