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Puppylove's Account Talk
- Thread starter puppylove
- Start date
anthony
Member
Welcome to the boards. I'm cutting and pasting most of this from my standing "welcome aboard" message ...
First, regarding your question, you have to do your homework. It's your money and no one's going to manage it for you. This is a great board for ideas, but it's not real advice. It's just people sharing ideas, sharing stuff they read, learning through shared experience. The adage goes, 'good advice is worth what you paid for it.' That especially applies here. If you start approaching this site like you're coming here for investing advice, then you're in trouble. Few (if any of us) have shown you any form of credentials, not just for financial knowledge, but also just basic identity. Being realistic, you have no idea who you're talking too (or getting advice from) on a web forum. If you approach this site like it's idea sharing and you keep a critical mindset, you'll be fine.
Second, if you are new to investing go see a certified financial planner. Professional advice from a trained CFP can cost hundreds in the civilian sector, but they are free for active duty at the base financial services office if you're active. If you are not then government employees may have something comparable, but I'm not one, so someone else will need to chime in. Third option for saving money on this is your financial institution, which may offer them at a discount (keeping in mind of course that they will vector you toward their stuff). Most "experts" recommend sitting down with a CFP once every couple years, or annually during challenging times. Treat it like a doctor, dentist or mechanic. Pay a little money for some good work on what matters. Treat it like a doctor/dentist/mechanic also in the sense that you should get second opinions, especially if what you hear sounds weird or sounds like a sales pitch.
All that said, if I were you, in the near term I'd just hang out and watch the markets for a bit and do a lot of research before you really start actively trading your account. We're in the good part of the year where it's really hard to screw things up if you just hold an invested position. This time of year people are more likely to miss gains by not being invested than they are to lose value by being invested. Market timing is really hard. Watching the top movers is cool, but its always possible that by the time you notice their move, the opportunity is already gone. During the time that you are hanging out watching/reading/researching before you start trading, you should keep a spread sheet or join the autotracker. On your spreadsheet and/or autotracker account, just make "imaginary" moves in real time at first to see if they would work out or not, all while just holding long term positions in your "real" money. When you're more confident, then start working more actively with the real money.
All just my two cents. Hopefully some others will join in.
Good luck!
First, regarding your question, you have to do your homework. It's your money and no one's going to manage it for you. This is a great board for ideas, but it's not real advice. It's just people sharing ideas, sharing stuff they read, learning through shared experience. The adage goes, 'good advice is worth what you paid for it.' That especially applies here. If you start approaching this site like you're coming here for investing advice, then you're in trouble. Few (if any of us) have shown you any form of credentials, not just for financial knowledge, but also just basic identity. Being realistic, you have no idea who you're talking too (or getting advice from) on a web forum. If you approach this site like it's idea sharing and you keep a critical mindset, you'll be fine.
Second, if you are new to investing go see a certified financial planner. Professional advice from a trained CFP can cost hundreds in the civilian sector, but they are free for active duty at the base financial services office if you're active. If you are not then government employees may have something comparable, but I'm not one, so someone else will need to chime in. Third option for saving money on this is your financial institution, which may offer them at a discount (keeping in mind of course that they will vector you toward their stuff). Most "experts" recommend sitting down with a CFP once every couple years, or annually during challenging times. Treat it like a doctor, dentist or mechanic. Pay a little money for some good work on what matters. Treat it like a doctor/dentist/mechanic also in the sense that you should get second opinions, especially if what you hear sounds weird or sounds like a sales pitch.
All that said, if I were you, in the near term I'd just hang out and watch the markets for a bit and do a lot of research before you really start actively trading your account. We're in the good part of the year where it's really hard to screw things up if you just hold an invested position. This time of year people are more likely to miss gains by not being invested than they are to lose value by being invested. Market timing is really hard. Watching the top movers is cool, but its always possible that by the time you notice their move, the opportunity is already gone. During the time that you are hanging out watching/reading/researching before you start trading, you should keep a spread sheet or join the autotracker. On your spreadsheet and/or autotracker account, just make "imaginary" moves in real time at first to see if they would work out or not, all while just holding long term positions in your "real" money. When you're more confident, then start working more actively with the real money.
All just my two cents. Hopefully some others will join in.
Good luck!
uscfanhawaii
Active member
Welcome aboard!!
You don't say how long you have been in the TSP, but equities definitely need to be included in your planning. You are in C and S, so you already know this.
If you are putting in the max you are allowed, and you are including equities in your plan, then you are well on your way! Take advantage of the info on these boards. They will give you lots of ideas on how to proceed.
Good Luck in your investing!!
FogSailing
Well-known member
Welcome Puppylove. It's a great Forum. Be advised though that the big guns are likely in preserving savings mode and that isn't always what the market is doing. Keep your eye on the ball and use the Autotracker to CONFIRM YOUR DECISIONS. Just my opinion. Welcome again!
FS
FS
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