(Closed) Investing – Do you, other than 401k plans? If so, how?

posted 8 years ago in Money
Post # 3
Member
544 posts
Busy bee
  • Wedding: November 2009

I have the usual 403(b) through my employer. I max the amount removed from my paycheck.  Luckily, my employer still matches funds. 

In addition my husband and I both have traditional IRAs and also a joint IRA.  We do not qualify for a Roth IRA, but that may be an option for you.  We can each put $4k into our individual IRAs yearly….not sure if it’s the same for our joint IRA.  Our money is all invested through Vanguard and I have had no issues with their service. We have made money–the hubby has been making waaaaay more than me, which is another story. He also owns some stock.  His parents gave it to him as a gift when he graduated from high school. 

I’m trying to get more into investing and stocks, but right now I just do my IRA and 403(b).  Any advice from other Bees would be greatly appreciated, too!!

Post # 4
Member
1667 posts
Bumble bee
  • Wedding: May 2011

I work in an investment advisory office. I could go into serious detail here, but that would bore the crap out of everyone so I’ll summarize:

  • Unless you have a lot of knowledge and/or a lot of time to invest in researching and tracking total return for individual companies, I would stay away from equity markets (that’s investing in a handful of individual companies)
  • Mutual Funds offer a much more stable investment option, but again, spending some time to educate yourself about the different types of mutual funds will really help you in the long run (you want an investment to match up with you income needs, return goals, etc.)
  • Having a 401(k) is great and if you can open up and contribute to a seperate IRA then go for it, there a limitations on this though.
  • Look into having an account at someplace like TD Ameritrade or Schwab. Not to company endorse but these are two I work with frequently and I know that, at least on the institutional side, they have great platforms and fantastic customer service.

Even if you only go in for a consult, I would recommend speaking with an RIA (Registered Independent Advisor). They are not connected with a broker dealer and thus aren’t going to try to push the “hot product of the month”. They are more likely to find the investment option that is truly right for you. In other words, they have a fiduciary responsibility.

Post # 5
Member
13096 posts
Honey Beekeeper
  • Wedding: July 2010

Darling Husband and I both have 401Ks through work.  We also both participate in our companies’ stock programs.  Both these things are completely coordinated for us by the company – we set amounts from each paycheck and they do everything else.

I also have a Roth IRA and Mutual Funds that I’ve had for as long as I can remember.  I have a “guy” that handles all of that stuff for me (he’s the same one who has handled all of my parent’s investments for years and years).  That “guy” and his company work with TD Ameritrade so that is what my Mutual Funds and Roth IRA are actually invested through.

Lastly – Darling Husband and I have a CD through our bank.  It doesn’t make much but it is better than a savings account and the money in it was from his grandma who was very anti-risk so we felt it was right to invest that money how she would have wanted to see it.

While the 410Ks and stock programs deduct money monthly, we’re not currently doing that for the Roth IRA and the Mutual Funds (although I need to start doing this).  Currently, we’re just putting in a lump sum once or twice a year.  I ought to set up a monthly deduction that goes straight to those two investment though now that we’re done with wedding stuff.

Every single one of our various investments has made money at this point (obviously they fluctuate up and down all the time but on the whole they’ve all had positive growth).

Post # 6
Member
14494 posts
Honey Beekeeper
  • Wedding: June 2011

We put almost everything through New York Life. I have all levels of accounts, mutual funds, annuities, a roth, and individual stock.

I also believe in being diversified. I have several pieces of investment art, gold and silver coins, savings bonds, and I just moved a chunk into Chinese bonds. – also invested recently into water distribution company.

I have been investing since I was 14 and working weekends at BK. My dad, through my teenage years, took a quarter of my check to put away for my retirement. I was pissed at him then, but now grateful to him.

Post # 7
Member
2829 posts
Sugar bee
  • Wedding: June 2011

Not to give conflicting information, but over the past few years mutual funds have been really rocky (mostly because of the recession) and I wouldn’t necessarily recommend jumping into them unless you are really confident in your knowledge of the particular fund.

I’m in Canada so I invest with a non-registered trading account that is linked to my TFSA to increase profits. To date I have only invested in junior companies and seen positive growth in all of them to date.

My partner does technical analysis so we are in a slightly better position to make profitable investments than we would be going in blind.

Do your research and educate yourself before making any investment decisions.

Post # 8
Member
544 posts
Busy bee
  • Wedding: November 2009

@ktisthatbees: Feel free to PM with any investment ideas or tips!!  I promise you won’t bore me to death!!!

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