Fool

[prog]

For a while I have felt like, from a financial perspective, my life has resembled the latter stages of a CRPG where the in-game economy breaks down because you have far too much money, and earning money to buy things ceases to become a challenge. This is not to say I'm filthy rich, but the fact is that I don't spend money on anyone but myself (not counting small loans and donations here and there to friends and allied causes), and my spending on myself is pretty minimal; I choose to live simply (if a bit messily), because my hobbies and personal projects don't require a lot of money. Oh, I could blow my bank account on stupid things if I wanted (does The Sharper Image still exist?), but I don't, and so I am left with a hideously bloated checking account and nothing else, because I have no clue what else I can do with my money. This makes me uncomfortable.

So: I have started to poke around The Motley Fool, which seems in some ways to be the O'Reilly of financial information. I've known about them mostly through the delightful NPR program Marketplace, which I've listened to for years, more for entertainment than education. But reading the start of their intro to banking article humbles me: Yes! I am stupid about all this stuff! Just as I suspected!

Anyway, it's something new to do, and it may end up being good for me. I wonder what will happen next.

Comments

Motley fool

[magid.livejournal.com]

They've got some good stuff, though they have become a bit more commercial recently.

Motley Fool & YMOYL

[elphie.livejournal.com]

They do really have some good stuff, their investing strategies can be a bit wonky, but most of their
info about how money works is really sound. I learned a lot of what I know about finances from them,
especially when everything was free back in the day.

"Your Money or Your Life" by Joe Dominguez and Vicki Robins is a great book to get you thinking
about money differently too. Although I also disagree with their idea of putting all your money
in treasuries.

Diversify

[cortezopossum.livejournal.com]

I haven't checked out this site nor have I read that book people have commented about. Nonetheless, the strategy which had been recommended for long term investment to me was primarily to diversify the types of investments -- avoiding the 'putting all the eggs in Enron's basket' scenereo.

Another idea is if you put money into something like mutual funds -- set up a way so that you can put in a regular fixed dollar amount on a montly basis. You get more shares when the fund price is low and you get less shares if the fund price is high automatically.

Re: Diversify

[magid.livejournal.com]

Also, take advantage of any free money you'll get if you use the employer's save for retirement plan: a lot of them match your contribution up to a certain percent, and it usually pre-tax dollars as well (double benefit: invest without having yet paid taxes on it, plus descrease the taxes you'll pay on income, since it'll be a bit less).
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