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      11-28-2019, 03:07 PM   #37
bimmer456
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Quote:
Originally Posted by XutvJet View Post
^ Listen to him.

I've been investing in the market since the mid 1990s or so. I've weathered all the major financial storms during that time, I've lost a lot and I've gained a lot. Up until about 5 years ago, I had a financial adviser/broker at Morgan Stanley. I researched, read a couple of simple investing books, and learned that having an financial adviser/broker was a total waste (for me).

For most investors with sub $2M portfolios, investing is very simple. Warren Buffett's 15-minute Retirement Plan is KEY, spot on, and incredibly simple, and you will consistently beat most every financial adviser/broker recommendation over the long term.

"My advice to the trustee could not be more simple: Put 10% of the cash in short-term government bonds and 90% in a very low-cost S&P 500 index fund. I believe the trust's long-term results from this policy will be superior to those attained by most investors -- whether pension funds, institutions, or individuals -- who employ high-fee managers." - Warren Buffett

^This is all you need to do right now with $50K.

Most of my money (about 70%) is in Vanguard 500 Index Fund Admiral Shares (VFIAX) ("S&P 500 index fund"), 15% in stock (mostly Berkshire Class B), government bond funds (~10%), and the remainder in other types of low fee Vanguard index funds.

You really need to get your butt in gear planning for retirement because you're miles behind where you should be. Someone who is 49 should have around $300-500K in retirement funds and investing pretty aggressively.

At this point in your life, you need the following:

- 3 to 6 months of living expenses in cash
- Well on your way to paid off home or a paid off home
- $300-500K in investments and putting away 10%+ month (whether your money or employer shared like a 401K match)
- No major debt like a car, boat, credit card payments
I've beat out the financial advisors and brokers who manage the mutual funds in my companies' 401k plan without even trying.
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