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Old 21st November 2019, 01:31 PM   #81
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Travel to a place you've never been before. That is always a fun experience.
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Old 21st November 2019, 05:51 PM   #82
psionl0
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Originally Posted by TragicMonkey View Post
When I was a teenager my savings account paid 3.8% interest. Now you can't easily find even a CD that pays that much interest.
In the 70s and early 80s, banks were paying 3% (on your lowest quarterly balance). That rate was considered a joke when you could easily get paid up to 10% (calculated daily) at a building society.

Then the banking system was "reformed".
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Old 22nd November 2019, 08:22 AM   #83
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Originally Posted by psionl0 View Post
In the 70s and early 80s, banks were paying 3% (on your lowest quarterly balance). That rate was considered a joke when you could easily get paid up to 10% (calculated daily) at a building society.

Then the banking system was "reformed".
Yeah, everyone misses those awesome 30yr fixed mortgages at over 15%.
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Old 22nd November 2019, 08:29 AM   #84
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Originally Posted by Dr. Keith View Post
Yeah, everyone misses those awesome 30yr fixed mortgages at over 15%.
Those of us who save obviously have different views on interest than those who borrow. I'm not certain finance should always work to the advantage of borrowers.
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Old 22nd November 2019, 10:06 AM   #85
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Originally Posted by TragicMonkey View Post
Those of us who save obviously have different views on interest than those who borrow. I'm not certain finance should always work to the advantage of borrowers.
True, just pointing out that it wasn't all roses.
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Old 22nd November 2019, 10:18 AM   #86
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Originally Posted by Dr. Keith View Post
True, just pointing out that it wasn't all roses.
*sells shares of rose growing farms and rose importers*
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Old 22nd November 2019, 10:34 AM   #87
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Originally Posted by TragicMonkey View Post
*sells shares of rose growing farms and rose importers*
Tangential response: I was in the bank yesterday for something that I couldn't do on the bank app for some reason. As I was talking to the new banker who I had never met he asked about some of the investment accounts I had at their bank. He asked if I wanted to have an account for buying my own stocks. I declined and he looked at me as if I was a lizard who had just magically appeared at his desk.

I told him that the only companies I know more about than the average trader are companies I can't invest in as an insider.

And since I am not a professional trader I doubt that I could do a whole lot better than a good mix of mutual funds and some index funds.

I guess a lot of people think they are much smarter than the rest of the market. I suppose I could be if I applies myself, but for now I make pretty good money doing what I already know how to do.

These guys seem to thrive off the hubris of their clients.
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Old 22nd November 2019, 10:10 PM   #88
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Originally Posted by Dr. Keith View Post
Tangential response: I was in the bank yesterday for something that I couldn't do on the bank app for some reason. As I was talking to the new banker who I had never met he asked about some of the investment accounts I had at their bank. He asked if I wanted to have an account for buying my own stocks. I declined and he looked at me as if I was a lizard who had just magically appeared at his desk.

I told him that the only companies I know more about than the average trader are companies I can't invest in as an insider.

And since I am not a professional trader I doubt that I could do a whole lot better than a good mix of mutual funds and some index funds.

I guess a lot of people think they are much smarter than the rest of the market. I suppose I could be if I applies myself, but for now I make pretty good money doing what I already know how to do.

These guys seem to thrive off the hubris of their clients.
You don't have to know more than traders for it to be worthwhile to do their job yourself. I'm not a better chef than the guy at the restaurant down the street, but it still makes sense for me to have a kitchen and cook at home.

I'm not saying that logic necessarily applies in this case, only that it could.
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Old 23rd November 2019, 02:06 AM   #89
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I realised I would be terrible at investing in shares. I mean, Trump is in charge, yet the stock market goes up. It makes no sense to me.
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Old 24th November 2019, 07:23 PM   #90
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Originally Posted by Matthew Best View Post
I realised I would be terrible at investing in shares. I mean, Trump is in charge, yet the stock market goes up. It makes no sense to me.
The stock market is a complex system. Who the president is and what they do is only one of millions of variables at play. In short, no president can take much credit or much blame for the overall market. It's bigger than they are.

And investing isn't difficult, you simply buy low and sell high. Leaving a long amount of time between doing those two things tends to pay off better.

And you needn't buy stocks directly, mutual funds are excellent. Boring, but excellent. Buy them, hold them, you'll be fine.
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Old 24th November 2019, 07:36 PM   #91
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If you have children or other loved ones, the best bet may be to place at least $5,000.00 of it in an irrevocable burial trust. That insures that the money isn't counted against you for tax or medicaid/medicare liens and that your loved ones have enough money to give you a proper funeral without having to worry about cost to themselves.

The rest should be spent on your necessities - the dental work, etc. Then just put the remainder in your bank account so that you always have a little cushion should things go sideways.
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Old 24th November 2019, 07:40 PM   #92
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Originally Posted by Roboramma View Post
You don't have to know more than traders for it to be worthwhile to do their job yourself. I'm not a better chef than the guy at the restaurant down the street, but it still makes sense for me to have a kitchen and cook at home.

I'm not saying that logic necessarily applies in this case, only that it could.
If I were to buy my own stocks I would probably use a mix similar to the ASX100* or the current index/mutual funds. This would only make sense if the brokerage was less than the fees and charges levied by the funds.

* Since banks tend to be overrepresented in the top 100 stocks, I would probably divide my investments into banking and non-banking stocks.
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