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g0lbez posted:I'll be completely straight up with you, I don't particularly have much thought about my retirement plans. It's not healthy I acknowledge that but I'm more concerned about my present situation then what I'm going to be doing when I'm 50-60 years old. Again it's not responsible I see that but that's my line of thought. The above quote is pulled from your E/N thread. No matter what investment you do it is for the purpose of retirement. You have no thoughts about retirement and have no understanding of investing. Your best option is to leave your money in the 401k. What you are planning to do is to avoid dealing with your present situation. Everything else you've written is to justify to yourself an extremely poor decision that others have compared to gambling. The old fashioned description is having all your eggs in one basket which has a large potential downside. Retirement is, in fact, the last thing you should be concentrating your effort into. Your immediate problems need to be looked at. Quitting your job, cashing out your 401k to live on for a month and to gambling on a lovely stock is very self-destructive. A friend of mine went down a similar path but he quit his job to become a professional card player. That was the start of a series of events that led to his suicide. A stable job with 401k contributions is the best thing you could have for both your financial and mental health. Also you want to take a tax hit of $5k to gamble that you might make $4k on a lovely stock. That's financially retarded, even without factoring in the lost compounding gains at retirement. You'd need the price to go up enough to make $9k to net $4k of profit. e: updated math Devian666 fucked around with this message at 07:47 on Mar 23, 2015 |
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Mar 23, 2015 07:05
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That's still bad. You need an investment strategy not a single stock which is in a poorly performing company. I hope you have reconsidered and are not quitting your job and cashing out the 401k.
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Mar 24, 2015 23:55
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Dead Pressed posted:This is nuts. Please save your money and buy the books in the long term investing thread. Read "a random walk down Wall Street" and " four pillars of investing" before investing in anything outside of a target retirement fund. The Four Pillars of Investing was probably the best $25 that I spent in a long time. In relation to keeping your job and leaving the 401k alone this is a good decision. While the books provide a good level of financial education on implementing modern portfolio theory you do need to sort out your impulse control. At least you've sought out advice before proceeding.
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Mar 25, 2015 00:58
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AgrippaNothing posted:Trying to hop on the Mario futures has to be one of the gooniest loving ideas I have seen in BFC. Given that every goon's uncle work at Nintendo there's no way you should invest in it. Think about what goon uncles are like and realise there's no way they should be working at any job.
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Mar 25, 2015 19:59
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Sharzak posted:Every single person who has ruined themselves financially through investing like this has done so because they are convinced they are taking advantage of a sure thing. There are thousands of investors just like you and no matter how smart you think you are there have been wiser people with better ideas than you who have created a disaster for themselves. There have also been dumber people with worse ideas who have gotten rich. On an individual level it is kind of arbitrary who wins and who loses. Are you prepared to risk your financial future on a roll of the dice? I did some research on what happened on the run up to the 1929 stock market crash. The stock market was the sure thing and people were getting rich, on only 10% or 20% equity in their position and everything else on margin. Some much profit and greed when you have that much leverage. A spectacular crash.
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Mar 26, 2015 07:15
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