I believe a person should try to earn as money as possible and distribute that money as soon as possible to the people he loves. This especially true of your parents. Don’t think that you’ll give them money later on. As soon as you have some money that you think they’ll find useful, write them a check. They’ll spend the money on a vacation or they’ll put it in the bank and feel a bit less stress about life.
I’ve been listening to Bob Brinker on the radio (KGO Saturdays, Sundays) for overy 7 years. He teaches you how to manage money and invest your money. No stock tips but he has a monthly newsltter that gives you a generate overview of the market.
For many listeners, the most important service he provides on his radio show as well as his newsletter is the buy and sell signal for the overall market. He makes very few of these, but when he makes them, it’s usually right on the money. He calls them “The mother of all buying opportunities” MOLABO
He has made 3 market timing calls that made a huge difference in my life.
I followed all 3 calls that he made and did really well for myself. I
The first one was in 2000 to sell ( think around march, near the all time high for the NASDAQ)
* I sold every security I had 2 months after he made the call and I bought bonds after the did extrememly well compared with the overall market. I called my parents, my in-laws and some friends and asked them sell every security they had. My parents listened, other didn’t
The second call was in 2002 to buy the NASDAQ (a mistake on his part)
* He was trying to make a short term buck and it was a stupid call. I followed his call with 30% of my money and lost about 10% of that before I pulled out. He never admitted to this mistake and never asked his listening to pull out. A big mistake on his part. Since then, he has said he’ll stay away from short term plays
The third call was in March of 2003 to buy 100% into the market
* The third call was really great, I made 100% return buying the tech index. Check the charts for QQQ http://finance.yahoo.com/q/bc?s=QQQQ&t=5y&l=on&z=m&q=l
This is not an endorsement for Bob Brinker, but rather just pointing you guys to someone who knows what he is talking about. He doesn’t give stock advise, just very sound investment ideas like no-load fund investment or buying stock indexes, or home financing and general money matters.
This is the way I figure out whether to trust someone’s investment idea. Ask him the following questions.
1. When did you pull out of the 2000 market crash
2. When did you get into the current bull market started in 2003
3. What buy/sell calls are you most proud off out of the years of 1996-1999
4. Did you recommend buy or sell with YHOO was at $9?