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Rich Dad Forum
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Rich Dad
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How Do I Get Started?
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What's Wrong With Mutual/Investment Funds?
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Rank: Gold
Joined: 4/4/2006
Posts: 142
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I just finished college/university last week and am starting full time work in two weeks.
I have a $30,000 student loan which I aim to pay off first. Once that is gone, I hope to save up some money for a deposit on a first house or rental house. While saving for that deposit, I don't see why putting money into a mutual fund type investment for 5-10 years is such a bad idea?
It's better interest than the bank.
" Impossible Is Nothing" - Adidas
" Do Today What You Want For Your Tomorrows" - Robert Kiyosaki
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Rank: Silver
Joined: 11/15/2006
Posts: 41
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My motto is to 'Always Do Better than My Alternatives'. If you aren't ready or able to invest in real estate yet, then do whatever is next in line - which you deem achievable.
Be sure to analyze the risk of any investment and make sure it is worth the potential return. If I spent more time analyzing public companies and studying trends of the stock market, I might put my money into stocks, mutuals, bonds, etc. Without doing so, in my opinion, it becomes glorified gambling. Just out of college, I started in stocks & mutuals - I studied it a few hours a week? Didn't fare well too well so moved over to RE.
Do the best with what you have and make sure you are always striving to do better than your alternatives. Just keep moving.
' Don' t be afraid that your life will end, be afraid that it will never begin' - Anonymous
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Rank: Rhodium
Joined: 5/8/2006
Posts: 2,958
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Here is a great book for you my friend, the intelligent investor by Benjamin Graham.
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Rank: Gold
Joined: 5/16/2007
Posts: 215
Location: Dover, DE
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Brennan Tomasetti wrote:
Do the best with what you have and make sure you are always striving to do better than your alternatives. Just keep moving.
Hey Brennan - well stated!
"Every person is self-made, but only the successful are willing to admit it." - Micheal LeBoeuf
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Rank: Gold
Joined: 4/4/2006
Posts: 142
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Brennan Tomasetti wrote:My motto is to 'Always Do Better than My Alternatives'. If you aren't ready or able to invest in real estate yet, then do whatever is next in line - which you deem achievable.
Be sure to analyze the risk of any investment and make sure it is worth the potential return. If I spent more time analyzing public companies and studying trends of the stock market, I might put my money into stocks, mutuals, bonds, etc. Without doing so, in my opinion, it becomes glorified gambling. Just out of college, I started in stocks & mutuals - I studied it a few hours a week? Didn't fare well too well so moved over to RE.
Do the best with what you have and make sure you are always striving to do better than your alternatives. Just keep moving. Obviously, I want to get into real estate as I see this as a better alternative. But I need some savings for a house deposit first as no banks are willing to give 100% mortgages and the people who do are probably a bit dodgy.
" Impossible Is Nothing" - Adidas " Do Today What You Want For Your Tomorrows" - Robert Kiyosaki
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Rank: Copper
Joined: 10/27/2007
Posts: 21
Location: Arkansas
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There is nothing wrong with putting your money into a mutual fund if this is what you see fit to do. Get yourself an advisor that truly keeps your best intrest in mind, and relay your short term and long term goals to them. Ultimately you will be the one that makes the decision on what to invest in, but there is absolutely nothing wrong with putting your money in funds for the time being.
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