Getting aggressive with our investing

avatar

image.png


Yesterday @mrsbozz and I had a meeting with her financial advisor. Usually about once a year we get an email from him asking if we would like to meet and go over her investments. Generally, we ignore the emails because quite honestly it doesn't feel that important.

At this point in our lives, I don't think there is too much that we can do differently. We have absolutely zero control over the markets and we pretty much all know another recession is coming at some point. All we can do now is just keep investing how we have been and ride that out. Hopefully by the time we are ready to think about retiring our investments will have recovered enough that we can think about moving them into something more stable.

My wife and I talked about it and we decided that since we haven't met with him in a while we would see if he had any recommended changes or advice.

You might be thinking this is going to be a doom and gloom post about her idiot broker, but it was actually a really nice meeting. In fact, I kind of like her guy better than my own guy that I have been using for years.

As expected, he didn't really have much he would change with her investments. She started putting money aside at an early point in her career and it has grown nicely.

He considers her current level to be moderate aggressive. She is pulling in about 7 to 9 percent interest on her investments annually. He asked us if we wanted to maybe go a bit more aggressive since she still has ten to fifteen years before she plans on retiring.

separator.png

I pointed out to him that I have my own investments that are just about double what my wife has. I asked if he thought it might be a good idea to go a little more aggressive on hers given the fact that we also had mine.

He asked what I was invested in and after I told him he pointed out that my investments were actually a bit more aggressive than my wife's. On average, my stock and mutual fund investments earn me about 9 to 12 percent interest annually. I know it isn't much compared to the crazy DeFi numbers we are seeing lately, but in the traditional world, that isn't too bad at all. If I could get 1 million dollars saved into my 403b, 10% annually would be plenty for me to live on. More than my current annual salary actually.

We decided to bump my wife's investments up to a little more aggressive model. I am not sure what that is going to entail, but my guess is we will just pick up some funds that are a bit more volatile. I will keep an eye on her account to see if I notice any major changes.

separator.png

At one point in the conversation he started asking us questions about when we planned on retiring. Seeing the opening, I responded by saying "it depends on what my cryptocurrency does". Unlike my personal broker, he was immediately interested. He mentioned that he was in the middle of his third book about Bitcoin and he was still trying to wrap his head around it all.

At least he was trying.

I give him lots of credit for that. Most traditional money people have their heads in the sand when it comes to crypto.

We started talking a little bit but my wife was sitting right next to me and I think we both realized this could be a conversation that lasted much longer than any of our schedules had room for on that day.

It is a pity because I love talking about cryptocurrency and it would have been cool to get his point of view as a broker. Also, I might have been able to clear up some misconceptions he might have or answer some questions and arming people with knowledge and dispelling FUD is always a good thing.

So, long story short... My wife and I still have a decent amount of traditional investments and we decided to go a little more aggressive on those to see if we can up our returns over the next five to ten years.

With our pensions plus our traditional investments and the money I have locked into crypto projects, I think we have a solid base for our retirement when that time comes.

source


Sports Talk Social - @bozz.sports


TEAMUSAhive_footer_bozz.jpg


@eos.detroit Staff Writer/BOID Team Leader

Join our Discord here

Posted Using LeoFinance Beta



0
0
0.000
14 comments
avatar

He mentioned that he was in the middle of his third book about Bitcoin

I thought you meant he'd written them until I read

and he was still trying to wrap his head around it all.

😂

As you say it was a shame you didn't have a bit more time to help him out a bit. 😊

Posted Using LeoFinance Beta

0
0
0.000
avatar

Yeah, I thought about sending him an email and offering to answer any questions he might have, but I decided not to for now.

Posted Using LeoFinance Beta

0
0
0.000
avatar

The problem is that the metrics for the normal market doesn't match what you use for crypto. With so many pump and dumps or rugpulls, people have to very careful in what they have to invest in.

Posted Using LeoFinance Beta

0
0
0.000
avatar

True, although I have had my fair share of loses on the traditional side too. Don't even get me started on Chesapeake Energy!

Posted Using LeoFinance Beta

0
0
0.000
avatar

Yea you can still lose money on the traditional side but I think its probably less compared to the massive tokens released daily only to die a month later.

Posted Using LeoFinance Beta

0
0
0.000
avatar

Depends on if there is a recession or not... Or what you invest in. I've had companies go bankrupt on me a couple times.

0
0
0.000
avatar

You and your wife are doing better than most people and I congratulate you for that. There are so many Americans who can't or don't save anything at all. Now that I'm getting older I see firsthand how tough it is for the elderly to survive on Social Security alone. It's pretty much impossible. It's smart to set aside more than you think you'll need and to seek ways to make your money work for you while you're young.

0
0
0.000
avatar

My wife and I have always invested with the mindset that social security likely won't be around by the time we retire or at least not in the same form it is now. If it is then it will just be a bonus for us. That is our thinking anyway.

0
0
0.000