I am Raman Kannan, passionate about self help.
Most of work hard for an entire life and upon retirement realize social security does not meet
even modest expectations.
We have to accept Social Security as it is. It is what it is.
But we can change how we prepare ourselves for retirement. We can help ourselves by developing the discipline to invest and be invested in sound asset classes and retire into
millionaire status.
Myself and a few other friends from Holmdel formed the Holmdel Investment Club. The HIC
is a forum to air our concerns, interests and strategies to build a respectable nest egg.
HIC does not offer a get rich quick trick or an idea. HIC offers ideas to start small, stay the course and end up with a sizeable nest egg. Time, compounding and world wide economic growth will help us achieve our goals.
--
RK
03/02/2007
3 comments:
Hope the market gets better as the new week begins Monday. But again the bigger question is "R", what if it is a reality. I guess we can just hope that it is a mild one. It will be nice to discuss the possibilities in this environment.
MK
03/03/2007
Dear Madhu
Our premise is we choose sound long term investments (securities, etfs and mutual funds) and bear the risk
that goes along with it.
Otherwise we cannot expect above normal returns.
3% or even 5% drops are nominal. A total correction of 10% is what I am expecting before May/June. Then I expect the market to recover over and beyond because the fundamentals are very strong. I expect USD to weaken and will spur exports and strengthen local corporate sector.
I expect weakness in credit markets and mortgage markets.
Stay diversified and do not check the account balance for 45 days let the market take its own course digest the new economic scenary
and we will be ready for action.
Because we are long term investors.
We should not worry about seasonal ups and downs, short term corrections, and shocks beyond our control.
fyi
I found this article very interesting.
http://finance.yahoo.com/taxes/article/102482/High_Income_Tax_Breaks
if you are an 1099 MISC
you can deduct upto 44000 toward
your retirement using SEP.
GO for it..I cannot but you may be able to...
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