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Old 12-19-2015, 09:44 AM   #246
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Lol I knew about the 7-8 year rule for money to double back in HS... I dunno seems like a bit of a parenting fail to not teach a child how to handle his investments especially when we are talking about those sums.
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Old 12-19-2015, 10:41 AM   #247
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Gotcha.

Rule of 72 pretty much says to divide 72 by your ROI. Which is your annual return. So say you make 10% annually, 72/10 is 7.2, so it will take roughly 7-8 years for the money to double. So you can turn that 200k into 400k, then to 800k, then to 1.6m.

If you focus as an income investor, such as investing in high yielding dividend stocks. Then you can essentially be paid multiple times per month during the dividend payouts, and use that as spending money instead of actually selling those stocks or securities, because if you sell them, then you can't really gain anything else from them.

In the long run it really is best to try to hold onto the investments as much as you can.
I think that I am going to fire my financial advisor at the end of the year. He seems to struggle with the very basic investing strategy that you just mentioned.
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Old 12-19-2015, 10:42 AM   #248
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Personally I think it's pretty smart to not let your children have access to the money are saving/investing for them at least until they are 35 or 40...then you can teach them.............plus it would come in handy if you wanted to buy ant ATS-V...borrow money with no interest..............sounds logical to me.
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Old 12-19-2015, 10:48 AM   #249
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Lol I knew about the 7-8 year rule for money to double back in HS... I dunno seems like a bit of a parenting fail to not teach a child how to handle his investments especially when we are talking about those sums.
Parents aren't perfect. They try to teach as much as they are capable of, and leave the rest of the education up to formal schooling and life.
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Old 12-20-2015, 03:39 PM   #250
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Max hp a 4.6 can handle

The formal schooling system today is somewhat broken... It produces cookie cutter employees with 9-5 jobs working for someone else, now going and getting a business degree and/or marketing could help alot, but if u like me and cant afford the schooling...well... Its nice to have friends that are smart in those aspects and can teach me alot... But i agree with scotty alot .. He should atleast learn the ropes of the investing world even if his dad still does it for him and takes care of the money because if god forbid something was to happen to his dad right now( and i hope/prey that dont happen) he would be lost, he would have all that money but then not know what to do with it except spend it... Which is of course fun but not smart, it would be good to get up to a sum of where the dividends will cover the cost of living so u can invest more and more but he needs to atleast learn it while he can, i wish i would of had a dad that knew about investing and helped me i would of learned everything i could even if i had to hound him to show/teach me lol because one thing this motorcycle accident taught me... One minute ur here next minute you could be gone even if ur in good health so make the best of what u got, and yes you cant take any of it to the grave so as long as you are living comfortably then buying a toy or 2 wont hurt.. Now if u have kids that comes into consideration as well but ya... Hes done good for his age and if i had that much i prob would buy a 2011 coyote right out and play with it .. And still have alot of money for investing. Nothin like having a 8-9 second street car thats mildly mannered and daily it


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Old 12-20-2015, 09:08 PM   #251
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Personally I think it's pretty smart to not let your children have access to the money are saving/investing for them at least until they are 35 or 40...then you can teach them.............plus it would come in handy if you wanted to buy ant ATS-V...borrow money with no interest..............sounds logical to me.
As a 20 year old i would have to disagree. Most of the time someone in that age who is saving and investing generally is smart enough to know the importance of it. I try not to take any out. But there are times where i take a little out to pay for something important, such as tuition which i'm going to have to pay for in a few weeks. So saving up now that way i don't have to pull as much out when the time comes. But i still regularly invest, and take the money and move it between different investments depending on where i want it.

By the time someone is 35-40 there may be a chance that their parents aren't around anymore. Also once you turn 18 if the money is yours then you are going to need to have it in your name, which will give you full control over it, otherwise its your parent's money then.
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Old 12-20-2015, 09:11 PM   #252
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I think that I am going to fire my financial advisor at the end of the year. He seems to struggle with the very basic investing strategy that you just mentioned.
Where most financial advisors generally go wrong is where to actually put the money. I'm young and have my entire life ahead of me with not many expenses right now so i'm investing fairly risky and in volatile stocks, so the mistakes i'm making now i can learn from when its lower sums of money than in even 5 years from now. But for someone older you generally want much safer investments that have a track record of going up, but not much volatility.
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