We try to balance what we are doing. We’ve got the 401k which I think is what the annuation thing is you guys have, but we are trying to diversify into different things. We’ve almost pulled the trigger on a few things but haven’t for one reason or another. One of the ones we wanted to get into which seemed like it was a decent route, we later learned that it was controlled by the Italian mafia in the Southern New England area so unless we want to get our knees broken, that wasn’t a good idea lol was shitty too because it was decent! We are keeping it in our back pocket for when we move to a different area lol.
The thing that makes me hesitant about putting too many eggs in one basket like the stocks is that when things go poorly, you get a lot of it wiped out. I was in my early 20’s when 2008 happened and I watched my portfolio lost half its value in a week. It was brutal and I was stuffing it with money hoping for a solid retirement fund. Stuff goes to shit and it hurts a lot lol.
We are trying to get into real estate somehow, knowing that it’s a good hedge if you can do it correctly. Just trying to find the best opportunity for us before we dive in.
401K is similar to superannuation. yes, I just looked it up.
Diversity is very important, or so I believe, and the sooner one get's started, the sooner things progress towards creating a situation one could call financial freedom.
This could have been good...All you'd need to do was watch Casino and Goodfellas and you'd be good to go. Seriously though, maybe you dodged a bullet here, quite literally.
Yep, I've seen the same, the GFC was rather fucken brutal. This is where diversity helps to mitigate risk. It's a good lesson to learn.
I was a commercial and residential real estate agent, investor and developer for over twenty years...It can be very lucrative but for sure, as you say, the best/right opportunity needs to be found...and even then, it could all go to shit. Diversity again, is the best way.
Lol.