401K question - TranceAddict Forums

TranceAddict Forums (www.tranceaddict.com/forums)
- Chill Out Room
-- 401K question

Posted by Orbital32 on Dec-17-2005 16:42:

401K question

I'm sure that there has to be at least one smart person here, so I'll ask .

I know nothing about this crap, further more i really don't intend to retire anytime soon. What's some good markets to invest in? I pretty much want to make alot of money in about one day...I wish.

Posted by Dervish on Dec-17-2005 17:04:

Firstly don't do the day trader thing it's gash. Secondly I'd say go for defence contractors. Ones with stuff in the pipeline for new projects. Like the JSF or other large contracts. In the long run they will pay off (tho expensive right now).

Think long term and buy a range not just one stock. Though I guess you know that.

Posted by Jocker on Dec-17-2005 17:32:

Re: 401K question

quote:
Originally posted by Orbital32
I know nothing about this crap, further more i really don't intend to retire anytime soon. What's some good markets to invest in? I pretty much want to make alot of money in about one day...I wish.

right now, very good mutual funds to invest in are the international market and real estate ones. also, small cap is potentially more profitable, than large cap (but also more risky). the key is to diversify. invest in 2-3 more risky ones (like real estate, international and small cap) and a couple of stable ones (a small portion - into bonds. a small portion - into a big index fund, like from Vanguard or Fidelity).

check out the history of the funds that your 401k plan offers on www.morningstar.com - especially, historical rates of return and year-to-date ones. also, register your portfolio for free there on http://portfolio.morningstar.com to keep track of your returns.

check the returns every 2-3 months and make necessary corrections in allocation percentages. invest around 6% of your salary into 401k - most of the employers also have a 6% match (meaning, that they will also put 6% of your salary into your 401k... that's just an addition of 6% to your salary!!!)

Posted by jonSun on Dec-17-2005 19:18:

I had my mom do my 401k investing when i had it.

But I had 10k in it after 2 years. But I only made about $200 in the next 2 years I had it. So you gotta keep an eye on your market choices.

Posted by Lepanto on Dec-17-2005 19:21:

If you're in the US last thing you wanna do is invest in mutual funds, i've had 3 thousand in them for about 5 years now and after 9/11...forget about it. I consulted a couple of people, including my dad's cousin who is a very wealthy stock broker and analyst and he said to get out since there's nothing coming anytime soon, unless there's a miracle.

No one here can really tell you what to get, go see someone, he'll take a look at your portfolio if you have one or set one up for you, will talk about your income, etc.

Posted by allcentury18 on Dec-17-2005 20:19:

only use a 401k if your company is matching whatever you put in.

go read a book called "Missed Fortune" and you'll see why.

Posted by igottaknow on Dec-17-2005 20:37:

Re: 401K question

quote:
Originally posted by Orbital32
I'm sure that there has to be at least one smart person here, so I'll ask .

I know nothing about this crap, further more i really don't intend to retire anytime soon. What's some good markets to invest in? I pretty much want to make alot of money in about one day...I wish.

junk bonds, futures, shorting, and dot.com stocks are the way to go!

Posted by Orbital32 on Dec-17-2005 21:59:

my company matches half. up to 3 percent. I put in 6% and they put in 3%. thanks for all the suggestions guys.

Posted by eRRaTiK on Dec-18-2005 00:49:

Re: 401K question

quote:
Originally posted by Orbital32
I'm sure that there has to be at least one smart person here

your assumption is incorrect sir.