Hey guys.. my situation if you want to read. Cheers

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mousseux
Posts: 2
Joined: Wed Oct 09, 2019 11:45 pm

Hey guys.. my situation if you want to read. Cheers

Post by mousseux » Thu Oct 10, 2019 8:38 am

Hey guys how's it going? I am now more than 35 years old. I have had some layoffs and various problems that were basically beyond my control over the years. I can currently save probably $20,000-$30,000 a year though. I have read the book here and am familiar with the information and ideas etc.

I live a fairly frugal life, I mostly own what I need already for now, etc. Housing is my main expense, and I like to have a little fun on the weekend also. I have to think more about my future, because I'm getting a little older now. I have never been married but might like to try it. I also have a dream of fixing up an old '60s muscle car, but that's a different conversation.

I'm a little scared to take risks after the layoffs I have mentioned etc. I basically work a lot, save like crazy, try to enjoy my free time, etc. I have a lot of hobbies and can usually find something fun or educational to do that is relatively cheap or free.

I am also somewhat scared of the stock market. 2008 was a bitch. I have had mixed success with it before.

Anyway, this is my general situation right now. Does anyone have any advice or input? I guess I basically have to answer these questions for myself, but some of you guys might have been through something similar to me, or you might be a little older, etc.

Thanks for reading. Cheers.

Jean
Posts: 1060
Joined: Fri Dec 13, 2013 8:49 am
Location: Switzterland

Re: Hey guys.. my situation if you want to read. Cheers

Post by Jean » Thu Oct 10, 2019 9:23 am

Welcome!

wolf
Posts: 925
Joined: Fri Jan 06, 2017 5:09 pm
Location: Germany

Re: Hey guys.. my situation if you want to read. Cheers

Post by wolf » Thu Oct 10, 2019 9:24 am

Welcome mousseux!

Are you from Australia? I've been there once for three months and I think I remember "cheers" and "how's it going".

You asked for advice or input. But on what?

You seem to be on the path. You earn and save. Have you already invested something?

horsewoman
Posts: 122
Joined: Fri Jun 07, 2019 4:11 am

Re: Hey guys.. my situation if you want to read. Cheers

Post by horsewoman » Thu Oct 10, 2019 2:20 pm

Hello and welcome!
The only input I can think of at this point is "pick out a few journals to read" and "start a journal". It's a great exercise and it keeps one's mind on ERE.

mousseux
Posts: 2
Joined: Wed Oct 09, 2019 11:45 pm

Re: Hey guys.. my situation if you want to read. Cheers

Post by mousseux » Thu Oct 10, 2019 6:13 pm

Well I'm kind of scared to invest right now for one. I think there will be a recession any time between now and a year or two from now. Just between the business cycle, tariffs going a little too far, etc. And it's been a while since the last one. The market can't go up forever. It could be a good buying opportunity when it does go down.

I'm also trying to make up for lost time a bit. I think I'm doing a fairly good job of that.

I'm not Australian, no haha. I have done a a fair amount of traveling in my life though. Might've picked up various expressions here and there.

Mostly just trying my best at this point in my life as I prepare for the future and deal with layoffs and setbacks from the past etc.

wolf
Posts: 925
Joined: Fri Jan 06, 2017 5:09 pm
Location: Germany

Re: Hey guys.. my situation if you want to read. Cheers

Post by wolf » Fri Oct 11, 2019 12:07 am

Although I'm invested about 50%, I'm also quite uncertain when it comes to investing in the near future.
What helped me to understand my uncertainty better were two things recently: (But please take this only as my personal experience, yours might be way different.)
-Advantages and disadvantages of investing a lump sum or doing dollar cost averaging in the current investment environment
-researching and critically thinking about ETF index investing, especially with the dominance of blackrock and vanguard

Although I have already read many German books about investing, I start to dig into Jacob's recommended reading list about investing. ERE wiki. Maybe that's a start for you too?

One of the best things you could do is to learn, read, reseach, think critically, reflect and review all about investing, such as books, documentaries, personal feelings, risks, etc.

Noedig
Posts: 188
Joined: Tue Aug 26, 2014 10:15 pm

Re: Hey guys.. my situation if you want to read. Cheers

Post by Noedig » Fri Oct 11, 2019 4:51 pm

The trouble with market timing, is that you have to make a decision to get out of the market, then you have to make a decision to get into it. Both of these are problematic : how do you know when the crash is going to happen? How do you know when the market has hit bottom?

For these reasons, "Time in the market, beats market timing". At least in my view: I am 100% invested, all the time.

Dollar cost averaging is as much a way to reduce anxiety as it is anything else .... so if you are not confident of your judgement - and it sounds like you are not - then set up a regular investment and make that.

I have been making investments in the last couple of years based on this https://www.starcapital.de/en/research/ ... valuation/ - but of course you will have your own methodology for picking the markets to invest in.

Regarding the critical thinking about ETFs, if you are referring to the recent critique by Michael Burry, I have considered it and decided that his concerns though valid are not so important as he believes. However his point that Global Small Cap Value is undervalued, may be correct.

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