As I catch up on my daily reading, I was struck as usual by the sheer organization many people have with their investments. Some people talk about their tax strategies, how 3 years down the road their income will reduce by 5%, so they'll convert 13.7% of their IRA into a Roth...and so on. Become a Complete Fool
It's always entertaining to attempt to explain to someone my own investment strategy, which I have just dubbed (as in the Subject of this message) "Excessive Randomness", or "How to invest without a plan but still manage to retire early". The second title will be used when I'm famous and can afford more words on my book title.
My basic plan as it has been going is this:
Invest the maximum into both mine and my wife's 401k's. Split the money nicely between mid caps, large caps, small caps, international companies.
Take an IRA (split off from my company) and invest into individual stocks, mostly Value picks, dividend growth, BMW Method, etc.
Try to make sure both Roth IRAs are maxed out each year, also in individual stocks.
Modified a stock gift we received to be a drip, so that's growing as well. Other relatives spent theirs, one of them on a ski trip actually (so while they were dripping, my stock was also... get it? It's a pun)
Created a couple minimum payment drips for other companies (couple $100 payments per month add up over time)
Added an auto-transfer of $100 into an ING account to build up a safety net. It'll eventually add up I figure.
Max out the wife's stock purchase plan through her employer.
Paying down debt as fast as I can (just sending checks off when there's too much money in the account).
So while I don't have an organized plan, I figure I can bury any mistakes by sheer volume. If I open enough accounts, put enough money away per month (cutting down on expenses while getting raises works wonders), it'll certainly add up.
Now I'm not sure exactly how to market my book, but I believe it will have something to do with "Spend less, Save more, Invest all over the place".
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As I catch up on my daily reading, I was struck as usual by the sheer organization many people have with their investments. Some people talk about their tax strategies, how 3 years down the road their income will reduce by 5%, so they'll convert 13.7% of their IRA into a Roth...and so on.
Become a Complete Fool