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Good financial forums?

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Good financial forums?

Postby VikrumthePally » Fri Apr 25, 2008 8:11 am

Hey off-topic for sure. But this forum is amazing in its help it provides to the tanking community.

I am a young business owner and I am looking to start investing. I was hoping maybe someone could point me to a forum that is as good at financial advice as this one is to tanking advice. =)

I did a search on Google but didn't see anything I really trusted. You know I can post all day information in a community about paladin tanks, however doing the same seeking financial advice is a bit risky I must say.

So I am hoping someone here has a tried and true site. Thanks very much in advance.

-Vik
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Postby Tzuma » Fri Apr 25, 2008 8:18 am

What kind of financing? Personal or business? There are sites out there that focus on personal finance as it relates to credit/credit scores/etc., Ive found much less in regards to business finance (as you said youre starting youre own).
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Postby VikrumthePally » Fri Apr 25, 2008 8:25 am

Oh sorry for the confusion. I have started my own business. Been in it for about two years now.

I am just getting ready for personal investing, and am generally interested in forums about personal finance, be it credit scoring, investing, etc.

Thanks.
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Re: Good financial forums?

Postby lusisia » Fri Apr 25, 2008 9:22 am

VikrumthePally wrote:Hey off-topic for sure. But this forum is amazing in its help it provides to the tanking community.

I am a young business owner and I am looking to start investing. I was hoping maybe someone could point me to a forum that is as good at financial advice as this one is to tanking advice. =)

I did a search on Google but didn't see anything I really trusted. You know I can post all day information in a community about paladin tanks, however doing the same seeking financial advice is a bit risky I must say.

So I am hoping someone here has a tried and true site. Thanks very much in advance.

-Vik


I get most of my financial advice as it were from Clark Howard:

http://www.clarkhoward.com

I also listen to a local show called "Money Matters" on Sunday mornings:

http://wsbradio.com/about_us/moneymattersshow.html

Both of the guys are VERY impartial. Clark Howard doesn't do ANY advertising endorsements and neither does Mike Kavanagh (the Money Matters guy). I have yet to get bad advice or experience anything negative from listening to them.

I would suggest grabbing a few podcasts of each and see how you like them. I would also possibly consider the Money Matters suggestions of finding a fee-only financial planner and not someone who is getting kickbacks from a particular investment house to sell crap to you.
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Re: Good financial forums?

Postby lusisia » Fri Apr 25, 2008 9:24 am

As a side note, the biggest bit of personal financial advice *I* would provide is to make sure you're contributing to a Roth IRA ;)
"then somehow people manage not to see the forty fucking foot tall of fucking fiery flames of fucking doom ... and we wipe." - Isolfr
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Re: Good financial forums?

Postby Refute » Fri Apr 25, 2008 9:39 am

lusisia wrote:As a side note, the biggest bit of personal financial advice *I* would provide is to make sure you're contributing to a Roth IRA ;)


I agree with this. And to clarify your question, what is the point of your investing? Do you mean investing for retirement or investing for more short/mid term profit? Both are different and come with varying degrees risk depending on your approach to either.

Personally, I too would suggest that you do not start in more higher-risk short term investments unless or until you have a solid portion of your income going into a retirement account.

If you start young and stay consistent, you will retire very well off. Compared to people who start in their 30s or 40s, you will still come out ahead of them even if you are putting in noticeably less money, simply because of the compound interest you are gaining.
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Re: Good financial forums?

Postby lusisia » Fri Apr 25, 2008 9:56 am

Refute wrote:
lusisia wrote:As a side note, the biggest bit of personal financial advice *I* would provide is to make sure you're contributing to a Roth IRA ;)


I agree with this. And to clarify your question, what is the point of your investing? Do you mean investing for retirement or investing for more short/mid term profit? Both are different and come with varying degrees risk depending on your approach to either.

Personally, I too would suggest that you do not start in more higher-risk short term investments unless or until you have a solid portion of your income going into a retirement account.

If you start young and stay consistent, you will retire very well off. Compared to people who start in their 30s or 40s, you will still come out ahead of them even if you are putting in noticeably less money, simply because of the compound interest you are gaining.


Exactly. I wish I had been much smarter when I was younger but I didn't start saving until my late 20s. I look at tools like the various retirement calculators and realize how much money I could have.

In the end, a lot of the advise is going to be specific to your age and what you've done already. For instance, I max out my 401k with my employer and my wife and I max out our Roth each year. I also have an automatic savings plan with my bank.
"then somehow people manage not to see the forty fucking foot tall of fucking fiery flames of fucking doom ... and we wipe." - Isolfr
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Postby VikrumthePally » Mon Apr 28, 2008 9:30 am

Great advice about the 2 places you get your information from.

To answer Refute's question, I have my retirement vehicles already in place. I mean for making money investing. That is the type of advice I am hoping to gain from the two sites listed above. Thank you all very much!

-Vik
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