How many getbiggers are financially secure?

[SF1900]

Yes !!!
My bed is quite wide and can easily sleep 3, you are more than welcome to share this fantastic once in a lifetime privalige if you desire !!

Hahaha lol, you and Vince can spoon.

[Shizzo]

I feel left out. 

[Purge_WTF]

 I might also add that a big part of the reason for my financial security is due to my not being married with kids. I assume the same can be said for others here.

[calfzilla]

I might also add that a big part of the reason for my financial security is due to my not being married with kids. I assume the same can be said for others here.

This is huge. Very underrated.

[Mr Anabolic]

I might also add that a big part of the reason for my financial security is due to my not being married with kids. I assume the same can be said for others here.

Very good.  I've been espousing this here for 10 years. 

I'm semi-retired at 51.  I have no pension, inheritance, or lottery winnings.  Frugal living helps, but it's mainly due to never being married or having kids.

[Kwon]

Imagine spooning with the owner of Caliber Fatness Solutions.

[ProudVirgin69]

I'm such a retard with money I have no idea what you guys are talking about. Im in my early 30s and have a decent income no kids yet. Where's a good place to start? I need to learn how to invest a little bit of money each month. I don't have much debt.

Max out your 401(k) plan with your employer.  Chances are they match a certain percentage of your contributions, usually around 4%.  This, combined with the tax advantages of these investments, make them one of the best options available.  The limit for annual contributions to 401(k) is currently $18,000 and the limit for an IRA is $5,500.  No need to look at other types of investments until you reach the limits with your contributions

[El Diablo Blanco]

That last picture I swapped the S class for my CLS AMG.  The driveway up to the house is 80 yards long so plenty space for parking.  I think the CLS is one of the best designed cars on the road so I'm keeping it till it falls apart.

Usually people with useless expensive cars are the least financially secure with debt up the ass.

[Meta-physical]

That used to be true in the UK but is less so now because of increased requirements on the finance companies. There are much tighter financial checks that the banks and other lenders have to comply with so getting a $1000 per month lease is not so easy. Most guys I know who have Bentleys and Ferraris and such are old money wealthy. An average Joe would never get the finance for them.
 
My house that I bought last year was originally sold new in 2008 for £500k more than I paid for it. The previous owners got an interest only mortgage for 10 years or they would never have been able to afford it.  Interest only mortgages are no longer available so house prices at the £1 million + level have fallen and some of these owners are in huge negative equity. Great time for a cash buyer to pick up bargains.

Dear BIG AL,

May I please have ten grand? I won't pay you back, but I'll put it to good use.

[Bevo]

That last picture I swapped the S class for my CLS AMG.  The driveway up to the house is 80 yards long so plenty space for parking.  I think the CLS is one of the best designed cars on the road so I'm keeping it till it falls apart.

That shouldn't take too long 

[Mr Anabolic]

Max out your 401(k) plan with your employer.  Chances are they match a certain percentage of your contributions, usually around 4%.  This, combined with the tax advantages of these investments, make them one of the best options available.  The limit for annual contributions to 401(k) is currently $18,000 and the limit for an IRA is $5,500.  No need to look at other types of investments until you reach the limits with your contributions

The fund managers are skimming off 3-5% a year, so say goodbye to your 3-4% company match.  Unless you quit your job, the government controls that money until you are 59 1/2.  You mistime the market cycle... you're fucked.  Hasn't been even a market correction in over 8 years.  The market is a huge bubble right now, so is real estate.  It's not a good time to be "all-in" the stock market.

[_aj_]

Define "financially secure"

Since I define "fuck you money" as $100mm+, I am not there yet.

[Mr Anabolic]

Define "financially secure"

Since I define "fuck you money" as $100mm+, I am not there yet.

 

I love that term, because it's so true. 

[Thong Maniac]

Max out your 401(k) plan with your employer.  Chances are they match a certain percentage of your contributions, usually around 4%.  This, combined with the tax advantages of these investments, make them one of the best options available.  The limit for annual contributions to 401(k) is currently $18,000 and the limit for an IRA is $5,500.  No need to look at other types of investments until you reach the limits with your contributions

So the 401k and IRAs bother me a bit because it's basically useless money till your 60. I don't want to wait till I'm 60 to have access. I put very minimal money into my IRA per year, and just a moderate percentage to company 401. Most of my money goes into independent mutual funds that I own, which average 9-10 percent return. Own a house, as well. I just like knowing I can pull out 20k of my mutual funds when I need it to make another investment or buy a car if I want. Not sure if my logic is sound here, but that's how I have been looking at it.

I also decided to partake in bitcoin now. Invested about 3k into it so far and a few hundred into Ethereum (basically clueless as to what this is, but I'm a moron with this shit)

Also, the wife/kids thing...I would agree with the get biggers above, but...my wife makes a super good living. If it wasn't for her, we would be way less financially secure. Her paycheck is bigger than mine, and she has huge tits

[ProudVirgin69]

The fund managers are skimming off 3-5% a year, so say goodbye to your 3-4% company match.  Unless you quit your job, the government controls that money until you are 59 1/2.  You mistime the market cycle... you're fucked.  Hasn't been even a market correction in over 8 years.  The market is a huge bubble right now, so is real estate.  It's not a good time to be "all-in" the stock market.

Lol no not even close.  My expense ratio averages 0.7%.

As to the rest of your post, I'm not sure what your point is.  The whole point of a retirement fund is to finance one's retirement so the age limit isn't an issue.  Yes there is risk involved in the stock market but that's no different from any other investment strategy.

Not taking advantage of the matching contributions provided by one's employer is leaving money on the table.  That, combined with the tax advantages inherent to the 401k plans make them a no-Brainer, especially for those who don't want to spend a lot of time thinking about how to invest their money.  

Yes, I know, you think buying & stockpiling gold bullion is the only sound investment strategy.  That too has its downsides, but hey if it works for you why not.

[ProudVirgin69]

So the 401k and IRAs bother me a bit because it's basically useless money till your 60. I don't want to wait till I'm 60 to have access. I put very minimal money into my IRA per year, and just a moderate percentage to company 401. Most of my money goes into independent mutual funds that I own, which average 9-10 percent return. Own a house, as well. I just like knowing I can pull out 20k of my mutual funds when I need it to make another investment or buy a car if I want. Not sure if my logic is sound here, but that's how I have been looking at it.

That's a fair point.  These are retirement funds after all, so yes the money will be mostly tied up until you reach that point.  Everybody's needs/goals are different and there's no one-size-fits-all investment plan.  I'd suggest contributing at least enough to your 401k to max out your employers matching contribution

My original post was aimed at spiro, who said he wanted to start saving but didn't know where to begin.