Poker Video: Misc/Other by bosoxx34 (Micro/Small Stakes)

furst enjoyed this very much...im only 26, but very interested in starting now for retirement.

Inflation average 3-4 % im from switzerland we have CHF and 3-4% is way to much 1-1.5 at highest.

Why did you not mentioned Dividend ETFs i think they are good too or not?

furst enjoyed this very much...im only 26, but very interested in starting now for retirement.

I'm 20 years old and even I'm worrying about my retirement too.

Could you share some books/other study materials for investing? I'm currently reading "Stocks For The Long Run" by J.Siegel and find it really interesting.

Sry if you mentioned it but the retirement vehicles you mentioned are US only, right?

I'm 20 years old and even I'm worrying about my retirement too.

I'm 18 and I'm kinda worrying about it. Right now I'm not necessarily thinking of it as investing for retirement, I'd just like to start investing little by little, I wouldn't probably touch it before I'm ~60 so I suppose it's still investing for retirement.

Inflation average 3-4 % im from switzerland we have CHF and 3-4% is way to much 1-1.5 at highest.

Why did you not mentioned Dividend ETFs i think they are good too or not?

Sorry completely forgot to add that that was for American's. Each country is obviously different.

I didn't mention dividend ETF's because those are more income based investments while investing for retirement we're looking for growth and those are more income based. But I agree with you those are good investments.

Could you share some books/other study materials for investing? I'm currently reading "Stocks For The Long Run" by J.Siegel and find it really interesting.

Sry if you mentioned it but the retirement vehicles you mentioned are US only, right?


I'm 18 and I'm kinda worrying about it. Right now I'm not necessarily thinking of it as investing for retirement, I'd just like to start investing little by little, I wouldn't probably touch it before I'm ~60 so I suppose it's still investing for retirement.

That's such a broad question since most books are specialized. One book that my teacher made us read for our investments 1 class is "The Wealthy Barber". This does a great job and outlining the basics for investing as a whole. It's a quick easy read.

And yes these are for Americans. I'm honestly not sure what retirement vehicles there are out there for our international members but I'm sure they're out there but it'll be tough for me to give any individual advice.

Are you a licensed financial advisor?

Are you a licensed financial advisor?

Not yet, I should be one in about 3 months after I pass 2 required tests. However personal financial planning was my major in college so I have studied this topic a good amount and feel comfortable talking about it.

Could you share some books/other study materials for investing? I'm currently reading "Stocks For The Long Run" by J.Siegel and find it really interesting.

I would suggest you read Bogleheads and get started as soon as possible. Getting started at 18 would be pretty great, don't procrastinate!

Not yet, I should be one in about 3 months after I pass 2 required tests. However personal financial planning was my major in college so I have studied this topic a good amount and feel comfortable talking about it.

Bosoxx, have you read I Will Teach You To Be Rich? pretty good book for young people looking to attempt to sort out their personal finances. Author has a blog too, some good stuff on there.

I would suggest you read Bogleheads and get started as soon as possible. Getting started at 18 would be pretty great, don't procrastinate!

Agreed with this, get started really early. An example one of my teachers used was showing two different investors.

One started at 20, deposited $200 a month until he was thirty and didn't deposit a dime after that. The other started at 30 and deposited $200/month from 30-65. At 65, the guy that started at 20 had more money, shows how important investing early is.

Bosoxx, have you read I Will Teach You To Be Rich? pretty good book for young people looking to attempt to sort out their personal finances. Author has a blog too, some good stuff on there.

I have not, but I'll check out his blog.

Good Intro to Investing for Retirement... I have my Series 7 and Series 66 and took Level 1 of the CFA and worked at Merrill Lynch as a Financial Advisor for 2 years.

You probably should have included Dollar Cost Averaging, and at least a definition and example of asset allocation, would have only taken another minute.

Also that the average person doesn't want to buy individual stocks but rather stock index funds, as opposed to mutual funds that are managed because the fees are cheaper or non-existant and 99.9% of mutual fund managers don't outperform the market.

If any of you are interested in learning more about personal finance check out these books: http://www.amazon.com/Rich-Dad-Poor-Money-That-Middle/dp/044656740X/ref=sr_1_14?s=books&ie=UTF8&qid=1294863278&sr=1-14

http://www.amazon.com/Automatic-Millionaire-Powerful-One-Step-Finish/dp/0767923820/ref=pd_sim_b_31

http://www.amazon.com/Money-Book-Young-Fabulous-Broke/dp/1594482241/ref=pd_sim_b_28

They are a bit cheesy but get the job done well... I'm sure other people have other book recommendations

Agreed with this, get started really early. An example one of my teachers used was showing two different investors.

One started at 20, deposited $200 a month until he was thirty and didn't deposit a dime after that. The other started at 30 and deposited $200/month from 30-65. At 65, the guy that started at 20 had more money, shows how important investing early is.

At first really inspiring and useful video. Thanks a lot!

I am from Poland and am twenty at the moment and thanks to poker and work I managed to put aside some money which I would like to at least start to invest because now it's not giving me any yield. I think that my first step is opening an account which allows me to buy and sell stocks. From your experience what would you recommend for the beginning, Bossox?

Thanks in advance for the reply.

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Also that the average person doesn't want to buy individual stocks but rather stock index funds, as opposed to mutual funds that are managed because the fees are cheaper or non-existant and 99.9% of mutual fund managers don't outperform the market.

this is a very important point, thanks for putting it out there. this is based on the efficient market theorum, correct?

this is a very important point, thanks for putting it out there. this is based on the efficient market theorum, correct?

Correct... Other than Warren Buffett and George Soros and handful of others there aren't many people who have outperformed the market in their lifetime.

There are people who have really good years, but just like poker its mostly due to small sample size.

Bosoxx, what do you think of target date funds where you pick one close to your retirement date and the asset allocation is automatically shifted to lower-risk investments as you get closer to retirement date?

Bosoxx, what do you think of target date funds where you pick one close to your retirement date and the asset allocation is automatically shifted to lower-risk investments as you get closer to retirement date?

They are definitely a good idea if you don't want to play an active role in re-allocating them yourself every ten years, but make sure you know what funds are in the program and how they are performing, usually they are managed funds, you could just as easily allocate them yourself if you google asset allocation you could probably find some good strategies yourself.

The brokerage usually charges higher fees for this type of investment as well, even though it is all computerized anyway.

They are definitely a good idea if you don't want to play an active role in re-allocating them yourself every ten years, but make sure you know what funds are in the program and how they are performing, usually they are managed funds, you could just as easily allocate them yourself if you google asset allocation you could probably find some good strategies yourself.

The brokerage usually charges higher fees for this type of investment as well, even though it is all computerized anyway.

Agreed also keep in mind that with the longer life expectancy conventional wisdom has changed a bit. You're going to need your retirement money to last you 20+ years in many cases. As a result investing for growth is still relatively important, you don't want to go too conservative too early.

At first really inspiring and useful video. Thanks a lot!

I am from Poland and am twenty at the moment and thanks to poker and work I managed to put aside some money which I would like to at least start to invest because now it's not giving me any yield. I think that my first step is opening an account which allows me to buy and sell stocks. From your experience what would you recommend for the beginning, Bossox?

Thanks in advance for the reply.

That's the right idea however investing and making a profit in individual stocks is extremely difficult. This video was more geared toward retirement planning. As for beginners books take a look at chazb0ts links above. I also recommend The Wealthy Barber for a beginner's guide.

Let me know if you have anymore questions.

Also that the average person doesn't want to buy individual stocks but rather stock index funds, as opposed to mutual funds that are managed because the fees are cheaper or non-existant and 99.9% of mutual fund managers don't outperform the market.

Also wanted to emphasize this important point.

Thelynchmob1, I agree with chazb0t, the expense ratio on those target date funds probably don't make them worthwhile, if you can do it yourself every X amount of years you'll save yourself a lot of money.

Just pick the lowest-cost index fund and do some research on asset allocation, whatever you do avoid paying more expenses than you need unless you really can't count on yourself (or your advisor) to balance your investments.

For those that are interested in stock-picking you can always set aside some money to try it, but I'd treat it more as a hobby or game than my main route for investing. Run good!

For those that are interested in stock-picking you can always set aside some money to try it, but I'd treat it more as a hobby or game than my main route for investing. Run good!

This... I always recommended that my clients don't try investing in individual stocks unless they are maxing their 401ks, an IRA, have 6 months of expenses saved up, no credit card debt, and then they could go nuts if they wanted.

Of course not all of them listened, and I bet you can guess what happened when Dec 2008 hit.

what college did u go to?

what college did u go to?

I went to St. John Fisher