Need Outsider Input

[mudsucker]

on #2
STAY HOME!


























































Just kidding! Go, as 401k will be up and down your whole working life! Good growth stock mutual funds over the long haul and you should make out fine. I can not worry too much or I would make myself sick about the 30k that my thrift savings plan lost just in the 2nd.Q that ended 6/30/2010! I buy more shares for the same money because of the decrease in share price this Q. Dollar cost averaging is what it is called. You may want to read up on it so as to feel better about your LONG TERM outlook! Enjoy the hunt!

[Anatidae]

2) I guess what I'm worried about is if I spend it, is there something this day and age I could invest in, that I would recoup my money in a realitvily short time frame?

Usually, anything that promises a greater return also has a higher risk factor........i.e. some stocks.......and crack cocaine.......but there are stocks out there that CAN either make you a higher return (based on historical data).....or go belly-up. There are also funds (made-up of stocks assembled and managed by fund managers) that are somewhat speculative based on growth within certain market climates. Other funds are either more stable (low risk) or more volatile (higher risk).

I have owned stock in WorldCom and Pfizer........2 completely different outcomes. We didn't get out of WorldCom when it tripled it's IO value.......we learned from that. So did a lot of other folks.

By the way.......from your statement.......if you spend it, you won't have anything to invest. But right now, until the economy recovers and consumer confidence rises, you won't see much growth in stocks or mutual funds........however, this is when savy investors look for opportunitites to select companies or funds that show potential for growth when the market improves. Thus, leave your 401K alone, add to it (to take advantage of 'dollar cost averaging' effects), and forget about it for now. You'll stand to benefit from it in 30 years when you may (or may not) have more responsibilities (i.e. a family of your own).

Life is about choices....good and bad. Weigh decisions based on your own circumstances and keep a focus on where you want to be in 10 years. Women like men with a steady incomes and a level head.......so do children. Since you're single, I'd ONLY go on the trip if I could afford it, realizing you may be sacrificing money that could help you acheive other long-term or tangible goals. You can't have it both ways when you spend it as you make it. If you save and wait to go on a trip later, your interests may change by then, but you also may have the ability (based on financial security) to choose several paths. Life sucks when you don't provide yourself with an ability to 'choose' your path. When you don't have a choice and have to 'do what you have to do', then you get down on yourself for putting yourself in that position.

If this doesn't sound like a broken record to you, then you haven't been listening. What you really want is for someone to assure you that going on the trip is the right choice. Nobody on here can give you that assurance, because they don't have to face the consequences if it turns-out to be the wrong choice - for YOU.

Now......I've got to get ready to go to work......I'll be taking a month off and going to Canada for waterfowl hunting, and I have to make sure my other business is in order.........first. It's a privelege to have a job, right now.

[JaMak84]

Not that you need any more advice, but I heard an old Eddy Raven song last night and thought the lyrics summed up your situation nicely. "Women were made to love, money was made to spend, and life is something buddy you don't get to live again."

[4dawgma]

pm harrydaydotcom on here, he recently published a book and may be able to help you with a cost estimate.

[missed mallards]

2) I guess what I'm worried about is if I spend it, is there something this day and age I could invest in, that I would recoup my money in a relatively short time frame?

Usually, anything that promises a greater return also has a higher risk factor........i.e. some stocks.......and crack cocaine.......but there are stocks out there that CAN either make you a higher return (based on historical data).....or go belly-up. There are also funds (made-up of stocks assembled and managed by fund managers) that are somewhat speculative based on growth within certain market climates. Other funds are either more stable (low risk) or more volatile (higher risk).

I have owned stock in WorldCom and Pfizer........2 completely different outcomes. We didn't get out of WorldCom when it tripled its IO value.......we learned from that. So did a lot of other folks.

By the way.......from your statement.......if you spend it, you won't have anything to invest. But right now, until the economy recovers and consumer confidence rises, you won't see much growth in stocks or mutual funds........however, this is when savy investors look for opportunities to select companies or funds that show potential for growth when the market improves. Thus, leave your 401K alone, add to it (to take advantage of 'dollar cost averaging' effects), and forget about it for now. You'll stand to benefit from it in 30 years when you may (or may not) have more responsibilities (i.e. a family of your own).

Life is about choices....good and bad. Weigh decisions based on your own circumstances and keep a focus on where you want to be in 10 years. Women like men with a steady incomes and a level head.......so do children. Since you're single, I'd ONLY go on the trip if I could afford it, realizing you may be sacrificing money that could help you achieve other long-term or tangible goals. You can't have it both ways when you spend it as you make it. If you save and wait to go on a trip later, your interests may change by then, but you also may have the ability (based on financial security) to choose several paths. Life sucks when you don't provide yourself with an ability to 'choose' your path. When you don't have a choice and have to 'do what you have to do', then you get down on yourself for putting yourself in that position.

If this doesn't sound like a broken record to you, then you haven't been listening. What you really want is for someone to assure you that going on the trip is the right choice. Nobody on here can give you that assurance, because they don't have to face the consequences if it turns-out to be the wrong choice - for YOU.

Now......I've got to get ready to go to work......I'll be taking a month off and going to Canada for waterfowl hunting, and I have to make sure my other business is in order.........first. It's a privilege to have a job, right now.

Yep, then you go and add logic w/ a response LOL. The comment addressing my 10 year financial goal’s is one that really struck me, and one I’ve honestly been thinking about for the last few days (I believe we had that conversation once or three times). The sum of money I am looking to spend would be greatly appreciated in achieving my goals, and is a large part of my reassurance in case anything goes wrong. I know, you aren’t guaranteed tomorrow, but you have to plan for next year; a hard truth of life.

I’ve been ‘broke’ one time in my life and the feeling is one I remember every time I spend a dollar. For those that think I’ve never seen the days of being broke, I can tell you, I was in the worst shape that I had ever been, and am just sick thinking about it. If I can prevent it, I would rather not go down the path unwillingly again. As you said:

Life sucks when you don't provide yourself with an ability to 'choose' your path. When you don't have a choice and have to 'do what you have to do', then you get down on yourself for putting yourself in that position.

My boss helped me decide during our short conversation this morning. I am responsible for all of MS and for me to leave the 9 days for 1 trip would wreck havoc on the “Going’s On’s” in the company. I like/love my job, and don’t ever wish to put it in jeopardy. My job is weird in that I have vacation, but during certain times, I am very limited on the amount of time I can be absent. Weird to say it, but I’m kind of relieved that I can’t go, as the money I would forgo wouldn’t balance out the experience. I would honestly sit there all day wondering if the trip was really worth it, whether or not I was killing or not.

On the flipside, I realized I can buy a boat, shotgun, shed for the house, and a whole bunch of other stuff for what the trip would cost LOL.

Thanks again for the replies. It looks like I’m putting the trip on hold, and will be spending the money on other trips or keeping it so that I can later use it without worrying if it would be the end of the world. Anytime you have to figure out if anything is worth ½ of your savings, it makes you wonder how bad you want it. I don’t want it that bad.

[jdbuckshot]

You can die with some money in the bank, or you can die and know you did every thing you ever wanted to do.


You can do both, but you gotta go hunting to get both done.


JD

[jacksbuddy]

I've heard a lot of people on here telling you that you should go on the trip. I've heard a lot of people on here tell you that you need to invest in some spell checking software and contact some college professors. And everyone is talking about this as an 'opportunity'.

But we haven't heard anyone mention the real costs for these answers. I take it from your original post that you are thinking of taking the money out of your 401K to pay for the trip. Is this true? If so, wait.

Yes, you've taken a hit on the 401K at about 14+%. But if you take this money out, it will count as regular income for you and will be taxed just like a paycheck. Plus, since it is currently in a retirement account, what you spend for this trip and not replace in some form of retirement account within a certain amount of time is charged an additional tax penalty. Essentially, this money will be taxed twice.

Now can you aford it? And remember, I haven't even mentioned the loss of the future income that these funds could have made for you if they were still in the 401K.

I hate to sound like the Reverand Mother showing up at your Bachelor Party, but there are a lot of aspects that you need to think about before you make a decision like this. The ramifications are huge. And, regardless of the amount of advice we give you, the decission is all up to you. Good luck on both of them.