Comments for My Money Design http://www.mymoneydesign.com Designing Financial Freedom Tue, 25 Nov 2014 01:08:54 +0000 hourly 1 http://wordpress.org/?v=4.0.1 Comment on Should I Go for a Pension Purchase Option or Invest the Money? – A Reader Question by MMD http://www.mymoneydesign.com/personal-finance-2/retirement/pension-purchase-option-invest-money/#comment-55986 Tue, 25 Nov 2014 01:08:54 +0000 http://www.mymoneydesign.com/?p=8026#comment-55986 That’s a good point about spreading the investments across different providers. I don’t think anyone should ever take their entire retirement savings and put it all into a single annuity. I’d feel much better buying several of them from different companies to make sure I’m diversified (in addition to making sure I’ve got plenty of other investment assets).

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Comment on How to Become Independently Wealthy … Outside Your Job by MMD http://www.mymoneydesign.com/lifestyle/philosophy-motivation/how-to-become-independently-wealthy/#comment-55975 Tue, 25 Nov 2014 01:02:20 +0000 http://www.mymoneydesign.com/?p=8017#comment-55975 Well said. Investing is so incredible. For the first 10 years my portfolio seemed so small and didn’t really seem to increase by all that much. Then at some point the stock market picked up and I had some pretty major up-swings. In one year I could potentially earn $50K or so from just the gains alone. That makes it all worth while.

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Comment on How to Become Independently Wealthy … Outside Your Job by MMD http://www.mymoneydesign.com/lifestyle/philosophy-motivation/how-to-become-independently-wealthy/#comment-55968 Tue, 25 Nov 2014 00:52:48 +0000 http://www.mymoneydesign.com/?p=8017#comment-55968 Good luck with monetizing your site Jason. I’m extremely partial to building income streams outside of your job, and a blog can be a great way to make that happen. I think you’ll find a lot of good info packed inside my niche site updates. If you have any specific questions feel free to email me.

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Comment on Should I Go for a Pension Purchase Option or Invest the Money? – A Reader Question by MMD http://www.mymoneydesign.com/personal-finance-2/retirement/pension-purchase-option-invest-money/#comment-55965 Tue, 25 Nov 2014 00:50:31 +0000 http://www.mymoneydesign.com/?p=8026#comment-55965 Thanks EL. I think the portfolio you suggest would be a pretty good one. Tax free income plus the anchor of strong core dividend stocks; sounds like a winner to me.

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Comment on Should I Go for a Pension Purchase Option or Invest the Money? – A Reader Question by MMD http://www.mymoneydesign.com/personal-finance-2/retirement/pension-purchase-option-invest-money/#comment-55964 Tue, 25 Nov 2014 00:47:23 +0000 http://www.mymoneydesign.com/?p=8026#comment-55964 Thanks! It was a fun question to tackle.

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Comment on Should I Go for a Pension Purchase Option or Invest the Money? – A Reader Question by Joseph Hogue http://www.mymoneydesign.com/personal-finance-2/retirement/pension-purchase-option-invest-money/#comment-55954 Mon, 24 Nov 2014 23:40:51 +0000 http://www.mymoneydesign.com/?p=8026#comment-55954 Smart detail of the question. These questions are tough because so much goes into it and some of the factors are not always measurable.

I like to recommend that people split their investments across different ‘guaranteed’ products and higher-return but non-guaranteed products. You’re analysis of the potential value of the amount if investing in stocks is correct but it’s using a market average of returns. A DALBAR study shows that the average investor misses the market average by 3% to 4% on euphoric-buying and panic-selling. I am a risk-taker myself but want to have some ‘guaranteed’ money set aside in annuities to fall back on.

Of course, I hedge the word ‘guarantee’ because who knows if a lot of the pension funds and insurance companies that offer these products will be around in 30 years to provide the funds. That’s why it helps to not only diversify across asset classes but also across product providers.

Great post.

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Comment on How to Become Independently Wealthy … Outside Your Job by Jon @ Money Smart Guides http://www.mymoneydesign.com/lifestyle/philosophy-motivation/how-to-become-independently-wealthy/#comment-55939 Mon, 24 Nov 2014 22:33:48 +0000 http://www.mymoneydesign.com/?p=8017#comment-55939 I use websites, rental property and the stock market to grow my wealth. It’s amazing when I see the hard work I’ve put in to my site pay off with advertising income. It is also nice when the stock market goes up and my wealth increases as a result. You just have to remember that everything takes some effort and you won’t get rich overnight.

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Comment on How to Become Independently Wealthy … Outside Your Job by Jason @ Islands of Investing http://www.mymoneydesign.com/lifestyle/philosophy-motivation/how-to-become-independently-wealthy/#comment-55922 Mon, 24 Nov 2014 19:28:04 +0000 http://www.mymoneydesign.com/?p=8017#comment-55922 Hey MMD,

Great post. Love all these ideas. This is just the sort of thing I need to focus hard on, especially now that I’ve squeezed my finances a little with the purchase of a new home. I’m pretty much convinced that rather than focus on the promotions at my current job, I should put some effort into developing these other sources of income, which should pay off much better in the long run.

Also great to see what you’re doing with your Niche sites, and the update reports you provide – will definitely start following this more closely!

Cheers,

Jason

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