Invest or not invest?

[4444]

i'd rather have an investment advisor that can offer me everything vs. bank advisors, which i believe (though could be wrong) are pushed to sell the bank products. agian, i could be wrong and would be more than happy to hear that i am.

my financial advisor is a friend - i trust him, there are controls in place, and i know how to invest and he and i share the same investment strategy, so i'm happy (don't go with a friend b/c they're ur friend)

[dasani604]

Originally Posted by 4444

i'd rather have an investment advisor that can offer me everything vs. bank advisors, which i believe (though could be wrong) are pushed to sell the bank products. agian, i could be wrong and would be more than happy to hear that i am.

my financial advisor is a friend - i trust him, there are controls in place, and i know how to invest and he and i share the same investment strategy, so i'm happy (don't go with a friend b/c they're ur friend)

I wouldn't say bank advisors are pushed to sell products. The system plugs out certain recommended funds/most advisors don't know any better. Vast majority don't trade nor do they understand underlying mechanisms of the market.

Easiest way to tell, sit down and have a conversation with them if you have to see them in the first place.

You're right though, I would rather have an Investment Advisor because they have more and different securities to play with. Same case though, vast majority don't know shit.

Frankly, I would rather have a portfolio manager who can act under discretion. The time lag between an IA contacting a client, asking to confirm the trade, and performing the trade is just too damn annoying.

[4444]

If ur IA is trading, u need a new IA.

If they're trading, they're doing it bc they make commissions on each trade. Any IA worth his weight will also preach diversification with slow and steady approaches - trading is more for a portfolio manager, and in that case I think they don't need permission to do what they do in their portfolio

[4444]

Originally Posted by !LittleDragon

I tend to keep most of my money invested with only $1000 in the bank to cover car and insurance payments. Why let it rot in there? If I need more than $1000, there's the line of credit that I can pay back with the next pay check or by cashing out some holdings.

I used to trade daily and did very well but now with a few business ventures on the side in addition to the full time job, I don't have time to do my market research every evening. Instead, I've been buying up dividend funds. Specifically, PGP, PHK, NCV and NCZ. I don't have to do squat and it brings me a steady monthly payout. PHK at it's current price yields 12% right now, that's 1% per month. Because their dividends are a fixed dollar amount, the principal can go up/down/left/right and I'll still get the same dividends. Reinvest the dividend and your payout the following month will be bigger.

What I do with the dividend every month depends on my mood but I never spend it. Sometimes I reinvest it into the same funds, sometimes I reinvest in a new fund I found, sometimes I buy some gold for insurance and sometimes I'll buy a stock if it's low and I feel like speculating.

As always, don't take my word for it regarding these funds... do your own due diligence before buying.

Do u know what the premium over their nav is? I think at least one of them has a 50% prem! that's pretty risky. I assume u've done this analysis as part of ur dd, but that would scare me especially in the junk investment space

[mr.wonderful]

I am 17, but I think I can help. DO NOT go to any investment advisor, they alwayd tell you to diversfiy, which is stupid. Invest your money into a business your passionate about and follow your dream, life is short. One of my dads friends got a degree in accounting and started a small firm where only he and another employee worked from his house and he raked in $300,000 a year although he is now retired.
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[sonick]

Originally Posted by mr.wonderful

I am 17, but I think I can help. DO NOT go to any investment advisor, they alwayd tell you to diversfiy, which is stupid. Invest your money into a business your passionate about and follow your dream, life is short. One of my dads friends got a degree in accounting and started a small firm where only he and another employee worked from his house and he raked in $300,000 a year although he is now retired.
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Lolololol truth. Are you multucartual Jr.?
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[4444]

Originally Posted by mr.wonderful

I am 17, but I think I can help. DO NOT go to any investment advisor, they alwayd tell you to diversfiy, which is stupid. Invest your money into a business your passionate about and follow your dream, life is short. One of my dads friends got a degree in accounting and started a small firm where only he and another employee worked from his house and he raked in $300,000 a year although he is now retired.
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no man, starting a business is for old ppl, what you want to do is take your money, buy a bunch of drugs, and sell it.

i know this one guy, he did this, now he's dead.

you're an idiot,

[speediandy]

I would invest in RRSP's or at least stocks. You dont want to be 60 and not have enough

[waddy41]

RRSP is not an investment, it's an investment vehicle