I don't want to be perfect, just better...

Wednesday, November 26, 2008

Investment Club

I have always wanted to start an investment club. I have wanted to be a member of one for several reasons, first and foremost I wanted to belong to a group of like minded people (those serious about amassing a nest egg) that I could invest with no matter what the sum whether a dollar a day or ten dollars a week or one hundred a month.

The second reason, those meetings are great social opportunities to meet and develop a social support system, as well as chances to eat, share and bond. If you are like me and have moved around a lot, most of your friends are in a different states (my friends are in three different states and none of them are close to me). I have maybe three or four friends here that I can call on. So I think this would give me a chance to know some like minded women as well as women with differing opinions in my own community.

I read several of the books written by the more famous all female investment clubs. I have enjoyed them and it reinforced my longing to join one.

However, most of the people I have approached in the past seem to not be interested. Some say that don't have the money. Others don't have time, some didn't want to invest in the market (I read between the lines- they think they will lose money), and many claimed they knew nothing and it would scare them.

My problems with this is/has been that I have seen a number of these women spend fifteen dollars on lunch, and two hundred dollars on shoes, and eighty dollars on concert tickets that they gave away because they had a fight with their boyfriend the day before and made up with him the day after. For as many purses as I have I don't think I have ever spent more than a hundred dollars on a bag. I refuse to spend more than that.

When someone tells me they have no money I always get upset because when you say this I remember all of your purchases and I know better. They chose not to care and that apathy drives me insane. If you spend money and have no idea where it goes then how can you save. I want to grab a couple and shake them but I don't. I am learning slowly to keep my opinions to myself. But I will begin to tell them that I don't want to hear about the trouble with their bills, how they can't afford to do this and that or whatever if they won't listen to me on basic personal finance stuff. (I am no expert but I know more than them and I would like to steer them in the right direction even if that means a professional)

Is that cruel?

I mean I have loaned you or offered to loan you books on personal finance, I have tried to talk to you about my financial goals and to have you share your financial goals with me. You were more concerned with immediate bills - I understand but with a little effort I thought we could work through and grow together.

I will be starting the Spendthrift All By Myself Investment Club. I am committed to saving a set amount so I can begin investing. I want to pay off more of my debt but I feel like opportunity is passing me by. I don't want to continuously fell like I'm behind the eight ball for retirement. I worked with a lady who told me she will not be able to retire. She's sixty something. And she says she has less than ten thousand dollars in the bank. No other investments. You know those lovely Social Security statements that are sent out once a year. I normally get mine in the spring. It tells her she has contributed enough into the system to get a monthly check of $842 dollars once she reaches retirement age. Problem. Her mortgage is $1700. She has twelve years left on the mortgage. I don't want to be in this situation, unable to retire, unable to support myself, and strapped with a huge debt on a tiny condo.

Do you feel behind the eight ball as well?

1 comment:

  1. luckily for me im in a forced retirement system...woohoo to the state of louisiana. i would like to start saving more tho. and i shall.