Replies

I wasn’t investing much tin those days although I do remember getting and IRA or something to that effect for 12%.

The banks were really pushing it and when I went to a now defunct bank to cash it in, they were really snotty to me.

Hey, if they didn’t like me getting that much they had no one to blame but themselves. The bank offered it.

I switched banks very shortly after that. I had no intention of keeping my money somewhere where I was treated so poorly.

In those days I was a fledgling young engineer at Johnson Space Center, and several of us who worked together - including some seasoned investors - got together and formed an investment club. The first bit of wisdom the senior investors shared was to look for a P/E of 10 or less.

Which, now that I think of it, makes me wonder if most of today's investors may actually be speculators, and just not realize it.

As a dad, one of the best things I ever did was to get my oldest son into investing. I was a little ahead of the game several years ago, so I offered to give him $1k with the one condition that it be invested in stocks.

The other day I asked him what his portfolio was worth, and he told me it's currently at $100k, mainly due the the fact that he has continued to invest. He's become quite savvy, too.