Author Topic: Financial planning 101  (Read 3234 times)

BTDretire

  • Magnum Stache
  • ******
  • Posts: 3074
Financial planning 101
« on: August 09, 2017, 07:31:33 AM »
I'm going to a Meetup group tonight called Financial Planing 101.
 I have a feeling it may be a sales pitch, but maybe not.
Anyway I want to do a litle prep and print a few ideas for the attendees.
If it is a sales pitch, I probably won't be very welcome, but I might prevent
someone from going down the wrong road.
 I'd like you all to add to my list. Feel free to expand on each idea in my list also.
*********************************
>The only way to get ahead is to live on less than you earn.
> Diversify your investments (Index Funds)
>Keep costs low
>Stay invested, do not pull out after the market drops
>Pick a plan and stick to it. (the market rotates, high flyer today may not be tomorrow)

Information Sources

Vanguard index funds
https://investor.vanguard.com/home/?WT.srch=1&cmpgn=PS:RE
Mr Money Mustache
Blog
http://www.mrmoneymustache.com/all-the-posts-since-the-beginning-of-time/
Forum
http://www.mrmoneymustache.com/all-the-posts-since-the-beginning-of-time/
JCCollings stock investing
http://jlcollinsnh.com/stock-series/
 Bogleheads
https://www.bogleheads.org/forum/index.php





Laura33

  • Magnum Stache
  • ******
  • Posts: 3512
  • Location: Mid-Atlantic
Re: Financial planning 101
« Reply #1 on: August 09, 2017, 10:37:29 AM »

BTDretire

  • Magnum Stache
  • ******
  • Posts: 3074
Re: Financial planning 101
« Reply #2 on: August 09, 2017, 10:51:25 AM »

czr

  • 5 O'Clock Shadow
  • *
  • Posts: 60
Re: Financial planning 101
« Reply #3 on: August 09, 2017, 12:01:22 PM »
If I were you, I wouldn't say anything since it isn't your business. It's actually rude. I know you are trying to advocate good financial behavior but there are other ways to do this and financial advisors are providing a service, albeit expensive, it is legitimate service and not a scam. Car dealers, time share salesmen, and whole-life policy sellers are arguably much worse. Just enjoy your free red lobster/olive garden/outback dinner and take it all in.

But either way, I'll be interested to see how it goes.

VoteCthulu

  • Bristles
  • ***
  • Posts: 409
Re: Financial planning 101
« Reply #4 on: August 09, 2017, 12:16:46 PM »
Budget!
Whether it's a spreadsheet, a free tool like mint, or a program like YNAB, you must keep track of where money is going before you can make intelligent decisions about spending.

BTDretire

  • Magnum Stache
  • ******
  • Posts: 3074
Re: Financial planning 101
« Reply #5 on: August 09, 2017, 04:21:18 PM »
If I were you, I wouldn't say anything since it isn't your business. It's actually rude. I know you are trying to advocate good financial behavior but there are other ways to do this and financial advisors are providing a service, albeit expensive, it is legitimate service and not a scam. Car dealers, time share salesmen, and whole-life policy sellers are arguably much worse. Just enjoy your free red lobster/olive garden/outback dinner and take it all in.

But either way, I'll be interested to see how it goes.
I'm not really on the same page as you, as far as I'm concerned Meetup is for people to get together for activites, not commercial sale pitches.
So if that is what the guy is doing then I'll give my own advice or at the least ask him a lot of questions about fees. But the point is moot, my wife had marinated steaks and I'll be grilling tonight so I cancelled my attendance.
btw, no dinner involved, in fact they are  asking for a free place to have their meeting.