Sunday, June 23, 2013

A Bit About Me

Where to begin?   How about a little about me and what my goals are from now until retirement.  I'm a early 30s financial services guy - not so much the guy behind the guy, but maybe something close.  I work on Wall Street, actually 5th Ave, but who's fact checking.  I went to school in Maryland and graduated with a degree in finance, and consider myself fairly financially savvy.  Since graduation, I had this stupid notion that I should save and buy a house... so I did.  A single guy living in a 4 bedroom house in the burbs, what could be better... or worse.

But wait, this is a financial blog, what does the house have to do with anything?  We'll get there.  Fast forward to 2009 and I started investing casually.  I say casually, which is really code for without a strategy or plan.  But hey, I was contributing regularly to my 401K, right?   In the next post, I'll go over the past 4 years of my investment history, which definitely lacked structure.

Goals!  My primary goal is to retire by 62 with enough income to live very comfortably, most likely in Sydney, which is where my wife grew up. I spent a year there recently and fell in love with the people, country and pretty much everything but the cost of living.   Back on topic, I am aiming to accumulate, at minimum, $2.5M in income producing assets, whether it be equities or real estate.  I'm somewhat old school in that I believe one invests in companies to own a piece of the business, more specifically to help them grow and pay their owns dividends as a reward.  Fair disclosure, I do have a chunk of my portfolio in trading names - short term ideas and biotech's.

Two final, and important, notes regarding my stock choices for all future blogs.  First, working for a financial company, I have to pre-clear all my trades and the approval is only good until the market closes.  I regularly get denied, so I can't invest in exactly what I want 20-50% of the time.   Secondly, I have a minimum one month holding period.  That means I have to be very careful about my conviction in the shorter term portion of my portfolio.  For example, I wanted to trade SODA early May when it dropped below 50, looking for a bounce back to 55 or 60.  My trade wasn't approved til later in the day when the stock was at 53.  I gave up on the trade at that time even though the stock is up another 20 one month later.

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