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Seahawk Seahawk is offline
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Join Date: Jul 2004
Location: Maryland
Posts: 31,780
I never, ever give anyone investment advice other than what I have told my children:

Develop a sense of what you are willing to lose. Investing is a risk/reward proposition. Figure that out first. The books and advice so far has been excellent. The key is how much time and effort do you want to spend on the various types of investing (mutual, individual stocks, property, etc.) venues available?

Then speak with at least three FPs. Explain to them you tolerance for risk. Based on their responses, begin to do some homework. Your risk tolerance may change but if you are not an "all in" type of person, don't be. I am a conservative investor and it has served my very well.

Friends of mine have been much more aggressive and have done very well, much better than I have. But I have never lost a minute of sleep worrying (about the the way things might have been).

Investing is for the rest of your life, don't trust anyone with your future. Investing, especially today, isn't rocket surgery.

Give it some time. Follow the basic, first rule: Get a household budget. Informative link here: http://www.leavedebtbehind.com/frugal-living/budgeting/10-recommended-category-percentages-for-your-family-budget/

Be realistic. There is nothing worse than an unhappy spendthrift. If you want to spend more and save less because it makes you happy in your 20's, do it. Understand the consequences.

Then for the love of all that is financial, stick with it! Adjust, certainly, but stay within the tried and true basics.

Once you are better informed, go back to the three FPs and ask them, based on your risk tolerance and house hold budget, to chart a five year path. The next decision is yours.

Kudos for starting early. My children both did as well.

One last thing. Do a budget review, deep dive on the investments quarterly. My wife and I use our tax returns, which we do ourselves, as the final review and yearly planning point.
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Last edited by Seahawk; 09-03-2017 at 01:53 PM..
Old 09-03-2017, 01:49 PM
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