5 Mistakes That Will Sink Your Retirement

I laugh to see the advice of the "experts"quoted in this article.I took all moneys out of mutuals in 1999 when our government started down the road of "repeating the mistakes of 1929 by deregulating the banks".I risked it all ($112k)in tobacco for the next 3 yrs.(+150%)Then started buying metal mining and energy(+280%)I am now retired but still active on the market.My little $112k isn't even what I make a yr now on actively trading.This ytd I am up $120k and made $16,800 before noon.Can everyone do the same?I just know that the banks can make you money,but not if you give any of your's to them.Just trade the stock.C,wfc,bac have all been very good to me,this yr.Hence the big bucks I am making day trading them.You CAN do better than taking the advice of this article.

paul callicoat of WA 1:17PM May 05, 2009

Most finanical advisors that I or my friends have worked with, are no better and in some cases much worse, then my own directed investing programs. We were rocked hard with the Tech downturn in 2000 and again this past year (2008) with a loss of 30% of our investment funds.

The investment that has saved us and allows us to enjoy a modest retirement is Treasury Bonds. We purchased I Bonds and they now pay nearly 8%. This was my wife's condition before adding any mutual funds. I researched Balanced Funds that never lost a cent over 30 years (or close to it). The one that we purchased was Dodge and Cox Balanced Fund. This past year they are down about 40%. Go figure! I was depending on the expertise of a five member group and they laid a goose egg. So in 10 years or more, the only investment which has really paid off was Treasuries.

During a divorce, my wife's former husband bought her an annuity that promised to pay about $60,000 a year at 65. The company, Executive Life, one of the largest insurance companies in California, in the 20 year interval, went bankrupt.

So, her retirement funds come from Social Security.

IMHO, investment advice is overrated and the only method that works is DIVERSIFICATION. Make sure there are monies in your retirement funds that you cannot lose...regardless of the economy. That's what Treasury Bonds and others government funds are for. And it doesn't take one million to retire. We have been living a wonderful life on $3000 a month or less, even though we expected at least $6000 a month. Hey! That's life!

The upside of personal investing is that it keeps one accountable for his/her own decisions, as well as actively involved in the outer world. It's been fun and challenging at the same time. I suggest you consider it and become less dependent on a finanical advisor. Hell! The bankers can't even keep their own balance sheets clean and profitable.

David Michael of OR 10:26PM February 13, 2009

I placed my trust in a financial advisor 14 years ago; I still do trust her. My portfolio lost 40,000.00 and I honestly don't know what total gains I made over the years. (There were good times too, of course). I feel ill about the down side of investing. Overall , with all the money I invested initially-- I have not really "made any money" ... i's about a wash -- which is disgusting to me; 14 years and no money made. Currently only 16% of my investments are stock based , as I wasn so very upset @ the stocks, my Advisor adjusted the mix. Hindsight is 20-20 and of course I wish I had all my money in some safe conventional spot. I am working at age 55 in a field where I can't save anything more. The money I invested when I could is IT. I know I am not alone. I have to fight off thoughts every few days to pull out all my $$. I want to flee to a bank with my cash and hide it in an an account that will grow very little- but at least will be safe..

catherine of OH 6:51PM January 06, 2009

Good job of research. Thanks for the informative post.

Dike of VT 4:42AM November 17, 2008