Personal Development for Smart People Forums - View Single Post - Investments: Professional vs. Self Management

ahimel · 01-14-2007, 08:40 PM

I have three goals for my money, a la Kiyosaki, although I assume the idea didn't originate with him.

I want to be safe This is my don't-live-in-a-cardboard-box funds. They mostly hang out in my bank account. The emergency funds live in my paypal account, which is currently paying 5% interest.

I want my future to be secure This is my retirement money. It lives in super-aggressive mutual funds in my Roth IRA and SIMPLE. Someday when the stock market has a spectacular year (the future equivalent of the .com boom) I'll pull it out of super-aggressive and put into a basic index fund.

I want to be rich This is income above and beyond that provided by my retirement funds and me working. If I lose all of it, I'll still have enough to pay the mortgage and retire at 65. (Although they'll probably have changed it to 70 or 75 by the time I get there.) At the moment, I'm paying off a real-estate investment course that turned out to be too much for me, and working on a computer-repair business. If all goes according to plan, the real estate will start generating a little income this year (I hope to cover the cost of the course in the first year) and the business will sell for USD1mil or more in 3-4 years.

01-14-2007, 08:40 PM	#11 (permalink)
ahimel Senior Member Join Date: Nov 2006 Location: Boulder, Colorado Posts: 398	I have three goals for my money, a la Kiyosaki, although I assume the idea didn't originate with him. I want to be safe This is my don't-live-in-a-cardboard-box funds. They mostly hang out in my bank account. The emergency funds live in my paypal account, which is currently paying 5% interest. I want my future to be secure This is my retirement money. It lives in super-aggressive mutual funds in my Roth IRA and SIMPLE. Someday when the stock market has a spectacular year (the future equivalent of the .com boom) I'll pull it out of super-aggressive and put into a basic index fund. I want to be rich This is income above and beyond that provided by my retirement funds and me working. If I lose all of it, I'll still have enough to pay the mortgage and retire at 65. (Although they'll probably have changed it to 70 or 75 by the time I get there.) At the moment, I'm paying off a real-estate investment course that turned out to be too much for me, and working on a computer-repair business. If all goes according to plan, the real estate will start generating a little income this year (I hope to cover the cost of the course in the first year) and the business will sell for USD1mil or more in 3-4 years.