My investing life and experience started in my early 20s when I wanted to start investing. Like a good citizen I went to a professional advisor which is what you did in the 1990s because nobody can invest on their own, its risky!
I placed my money in mutual funds with high fees because that is what I was told by the professionals. It was discretionary deposits. Being a 20 something you can imagine how consistent that was. I also contributed to a 401k thinking I was doing great for my future retirement. Then 2008 came along.
I actually saw 2008 coming stock market crash wise. I clearly recall talking with a friend in 2007 after reading that the U.S. had hit negative savings rate for the first time. As a nation, after adding up our interest payments, spending, and then saving into either the bank or retirement we had come up negative, spent more then we saved. That shocked me and the more I looked into it the more concerned I got but didn't do anything. Who was I to make changes to my investing when professionals were getting paid management fees to keep an eye on things. Surely they were aware of what was coming.
I sat locked in inaction as my retirement and pre-retirement portfolios dropped by 50%. I was angry as I was confused at what happened. Why was I paying all those fees for all those years? Not only was I angry at them but angry at myself. I sat in ignorance not knowing what to do. I swore I would never again be in that position with my finances.
I started this blog in April 2010 as a way to share my knowledge and experience with income investing. I wanted to help others avoid the same mistakes I did. The question was what medium of social media to use? I had seen plenty of quality blogs. I didn't feel I had anything to contribute there. On Youtube however, there wasn't much going on as far as serious investing talk was concerned. I felt that there I could contribute. Boy was I wrong.
After 3 years I had had enough. The Youtube investing community, for the most part, is about stacking silver and penny stocks. I have nothing against silver investing but stacking silver is when you buy silver no matter the price, wait for the fiat U.S. dollar to hyperinflate and go worthless, then you become wealthy. Its a mentality that causes one to hope others suffer (the world goes bankrupt) so that you can profit. It becomes more about being right then making money. I spent a lot of time and effort trying to get dialogue and discussion going. All people really wanted was to be angry at their lives and economic condition and dream when they got paybacks. I noticed that my view on humanity was changing and at that point I ended things on Youtube.
This blog started out as a way to support my Youtube channel. Without that, it needed new direction. The blogging community is a night and day difference to Youtube. Where it is about insulting and tearing others down, I've found the blogging community to be supportive and about building each other up. Thats what I want to be a part of now.
I placed my money in mutual funds with high fees because that is what I was told by the professionals. It was discretionary deposits. Being a 20 something you can imagine how consistent that was. I also contributed to a 401k thinking I was doing great for my future retirement. Then 2008 came along.
I actually saw 2008 coming stock market crash wise. I clearly recall talking with a friend in 2007 after reading that the U.S. had hit negative savings rate for the first time. As a nation, after adding up our interest payments, spending, and then saving into either the bank or retirement we had come up negative, spent more then we saved. That shocked me and the more I looked into it the more concerned I got but didn't do anything. Who was I to make changes to my investing when professionals were getting paid management fees to keep an eye on things. Surely they were aware of what was coming.
I sat locked in inaction as my retirement and pre-retirement portfolios dropped by 50%. I was angry as I was confused at what happened. Why was I paying all those fees for all those years? Not only was I angry at them but angry at myself. I sat in ignorance not knowing what to do. I swore I would never again be in that position with my finances.
I started this blog in April 2010 as a way to share my knowledge and experience with income investing. I wanted to help others avoid the same mistakes I did. The question was what medium of social media to use? I had seen plenty of quality blogs. I didn't feel I had anything to contribute there. On Youtube however, there wasn't much going on as far as serious investing talk was concerned. I felt that there I could contribute. Boy was I wrong.
After 3 years I had had enough. The Youtube investing community, for the most part, is about stacking silver and penny stocks. I have nothing against silver investing but stacking silver is when you buy silver no matter the price, wait for the fiat U.S. dollar to hyperinflate and go worthless, then you become wealthy. Its a mentality that causes one to hope others suffer (the world goes bankrupt) so that you can profit. It becomes more about being right then making money. I spent a lot of time and effort trying to get dialogue and discussion going. All people really wanted was to be angry at their lives and economic condition and dream when they got paybacks. I noticed that my view on humanity was changing and at that point I ended things on Youtube.
This blog started out as a way to support my Youtube channel. Without that, it needed new direction. The blogging community is a night and day difference to Youtube. Where it is about insulting and tearing others down, I've found the blogging community to be supportive and about building each other up. Thats what I want to be a part of now.
