[MightyMouseTech]

Originally Posted by E92 M Sport

Because of the keyboard warriors, everyone is full of shit & millionaires on the internet.

What do you mean? Tesla and Shopify are great investments and are definitely worth their evaluations! /s

[paquet]

My 2 cents (before taxes):

- What guarantee do you get about the accuracy of advice being provided? Financial opinions aren't worth the bits they are encoded on

- The term “financial advisor” itself is an “unregulated business title” that can be used by anyone (at least in Canada)

- "Advisers" are regulated and have a legal responsibility to act in your best interest - but again, only if you have entered into some sort of contractual agreement with them (and even then, there's incompetence as well as malice)

- What happens when you lose money? Will you accept it as 'oh well I listened to John Q Anonymous on the Internet and now I'm sodomized (in a non-fun way)'

Honestly, it sounds like opening Pandora's box (but there's just lots of shit inside, under high pressure at that).
Seriously, why subject yourself to such pain?

[chassis]

@Randy Johnson

I don't see the membership of this site as you described in your first paragraph. This is group with a wide range of life experiences, financial and otherwise.

I suggest good strategies are to live below one's means and to invest from the beginning of one's working career. Many employers offer matching funds in 401k and 403b plans, this is free money that should be taken advantage of. I like strong equity allocations, in particular growth equities.

Our BMW doesn't figure into investing, rather it is an output. My wife needs a car. The X3 fills that need. It's a nice looking car, with nice features, appearance, performance and reliability, so far. There are other cars that fit that description.

I am not a supporter of using a financial advisor if you have some financial management skills, and if you like to manage your own finances. If you don't have the skills and don't like to manage your finances, I suggest using a three-fund Bogleheads strategy. An advisor isn't needed for that.

[Suds]

You probably don’t want investment advice from me, I’m pissing away cash tracking a car as often as I can.

[vreihen16]

Originally Posted by Suds

You probably don’t want investment advice from me, I’m pissing away cash tracking a car as often as I can.

I likewise invested 20+ years of what should have been my retirement savings into trophy futures and rubber.

Want to know the secret to making a small fortune in racing? Start out with a large fortune!!!!!

[2000cs]

Originally Posted by Suds

You probably don’t want investment advice from me, I’m pissing away cash tracking a car as often as I can.

That’s living advice, not financial advice.

[upstatedoc]

Originally Posted by takahit

I don't see anything wrong with asking for advice or something that doesn't quite fit the forum. Anyway, you don't have to answer it if you don't want to. Especially if you say there are rich people here, why wouldn't they help someone asking for help figure out if they are so good at it?

Interesting. Tell us more.

[vreihen16]

Originally Posted by upstatedoc

Interesting. Tell us more.

60% on my score card right now, in case you were interested.....

[upstatedoc]

Originally Posted by vreihen16

60% on my score card right now, in case you were interested.....

I think Mods should hire you as part of the security detail. .

[vreihen16]

Originally Posted by upstatedoc

I think Mods should hire you as part of the security detail. .

I would not take the job, because I'm happy with my current gig hunting Nigerian princes.....

[e90335e36m3]

Forum owners are concerned with litigation when some investor loses their nest egg on another forum member's advice. Litigants not only go for the deepest pockets, they go for all pockets.

Same with W&P forum. Why risk your business because third parties/users want to argue endlessly about their ideological beliefs?

[jmg]

Originally Posted by Randy Johnson

Like the title state I am wondering why there is no forum discussing money and investing. Is it because the stereotypical BMW owner comes from a wealthy family and doesn't worry about money?

I'm wondering what other forum members savings and investment strategies are like. I'm also wondering how your BMW fits into this.

I invest heavily with my work sponsored 403b and a little on the side.
I'm doing great but wondering if I should look into a financial advisor.

I don't come from a wealthy family, and I definitely still "worry" about money. There are several threads on investing, but I think it's difficult to give financial advice without knowing a little more background, which can easily make people uncomfortable divulging how much they make and their account balances etc.

For example, what's "a little on the side" for one person could be $100k, but $10k for someone else.

Also, not every financial tool is available to everyone else. I don't have a 403b for example. I have a 401k from a former employer, and a SEP IRA from my own business. But I'm also part of a guild, so even though I'm an independent contractor and technically self-employed, I still get a pension and IAP. Since I am income splitting I still qualify to make ROTH IRA contributions on top of my SEP IRA. Plus I have a brokerage account.

A financial advisor might be able to let you know what tools are available to you, but you don't necessarily need one. Everything is a google search away. I do have a business manager and accountant, however, to filter my options through to make sure I'm not violating any tax laws etc.