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I've dabbled in real estate in the past (and likely in the future), but I'm trying to take a more hands-on approach to my retirement planning now. I thought it might be a good idea to have a running thread where people can ask questions, provide insight, and generally help the 700level.com faithful build wealth.

Personally, I'm lookign to expand on my retirement right now beyond what my job and my wife's job offers, so we're opening Roth IRA accounts and in the process of picking growth-stock funds.

Anyone have any pointers or recommendations?

I'm just looking at long term growth, 10+ year track records, and will probably end up setting everything up through Fidelity, T. Rowe Price, or some company like that. What else should I be looking out for here?

F-d,

Contact me offline and I will show you how it's done my friend. Don't work for money, have money work for you.


$$$$$$,

NEAG

$20 says Neag filed a 1040EZ form last year.


Any takers?

I'll take that

Not to threadjack but if you are in real estate you may want to reconsider your B.O. vote with his capital gain tax plan

I'm only planning on rental property from this point forward (though that could always change, I guess).

As B.O. goes, I'm still planning on voting for him, but nothing is ever set in stone. It seems like neither candidate really has any clue about the economy or interest in discussing it, which is pretty frightening.

LOL @ someone wanting to expand on their investments, yet likely voting for Barry. Jesus.

Since I'm not planning on retiring for 30+ years and we're talking about a Roth, "LOL" at U.

LOL's all around, i say.

f-d, you can't go wrong investing in NYC real estate. you can buy relatively low in developing downtown brooklyn.

Thanks, Professor. I understand all of that but like EAG said in reference to the real estate aspect of your investments, you might want to reconsider.

Brooklyn stand up!

you can buy relatively low in developing downtown brooklyn.

When you're saying "relatively low," you're still talking about an astronomically high number (for those of born with only a pewter spoon in our mouth), right?

If not, prey tell where this cheap land in Brooklyn may be found.

f-d, you can't go wrong investing in NYC real estate. you can buy relatively low in developing downtown brooklyn.

Thnaks for the tip, Thurston. I'll pick up a few the next time I'm passing through.

Good tip Flesh.

You may as well have said "Buy low, sell high"

Thanks, Professor. I understand all of that but like EAG said in reference to the real estate aspect of your investments, you might want to reconsider.

Rentals...properties I'll hold for some time (perhaps decades). Capital gains taxes will be raised and lowered 10 times before I'd consider selling, so I'm not concerned.

yes, cheap is a relative term, it's still very expensive, but they are building up flatbush past the manhattan bridge like crazy right now (which is where i live). this is both private development as well as municipal. it's very close to manhattan and is close to several large subway hubs, which is critical. this is not even counting on what's going to happen with ratner's project and the nets moving to atlantic and flatbush.

i have a friend that's looking around here (none of the buildings are finished, by the way, except our lonely one), and she says the prices are going up fairly rapidly every month.

it's a hard place to live right now simply because there is no retail and basically no neighborhood, but in about 3 years, this should be a very desirable place to live.

hence, buy relatively low.

You may as well have said "Buy low, sell high"

yep. except that i was giving an idea for a very specific investment.

good thing you come from money, you're not too quick.

Right...make be a good investment for you, someone else in your position, or a speculator who has a lot of money to invest, but for average Joe living a couple hundred miles away, it doesn't make a lot of sense.

Everyone knows what you told him though flesh

I come from money and I come on hotties

Rentals...properties I'll hold for some time (perhaps decades).

that's our goal, f-d. we want to move out of our current place and keep it as a rental property, ideally until we are ready to retire.

it will be scary keeping two mortages, but that's the plan right now.

Personally, I'm not lookign for real estate advice. I feel comfortable with real estate, I'd only be investing locally, and markets vary so wildly from one city or region to another, outside advice wouldn't be all that helpful.

I'm interested in any mutual fund tips or advice since I'm a relative noob.

Right...make be a good investment for you, someone else in your position

yeah, i was just kind of throwing it out there, didn't really expect you to act on it.

and we are not in any kind of "position", financially, since i am a student and will have some serious debt when i'm done. we are going to have to scrape like hell to get the money for another mortgage in the next few years, but hopefully, this will work out.

that's our goal, f-d. we want to move out of our current place and keep it as a rental property, ideally until we are ready to retire.

it will be scary keeping two mortages, but that's the plan right now.

That's a good way to go...it all depends on what the property is valued at when you decide to move, but rentals are definitely interesting.

it's actually kind of weird timing, i just emailed a few friends last night and asked them if they knew or used financial planners or advisors since i really am kind of lost myself in this arena and need some help.

and we are not in any kind of "position", financially, since i am a student and will have some serious debt when i'm done. we are going to have to scrape like hell to get the money for another mortgage in the next few years, but hopefully, this will work out.

No, when I said "position", I meant literal position on the map. If you're in the market for a home and you found a good one in an emerging neighborhood, it's a great investment for you. Purchasing the same home right next to yours and just trying to rent it or hold onto it for a couple years for a payoff is a terrible idea for me. Basically, unless you have tons of liquid cash to invest in several units OR you are a local who can live inthe investment, it's probably a shitty investment.

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