Investing club
A few coworkers and I have decided to start an investing club, or at least try to start one.
Last night was supposed to be the first meeting, where we were to figure out what we're really after so that everyone's expectations are lined up. It didn't start out too well, with me all alone and continuing to work on work stuff. Eventually, about 40 minutes after the meeting should have started, one other person showed up (out of the possible 4). Hardly a quorum, but we started with the simple things; like what won't people invest in (nothing that kills baby dolphins), and what do we want to invest in -- stocks, bonds, mutual funds, DRIPs, etc.
Eventually we decided that we should get some guidance on the whole club thing and found at least one useful how-to site.
Based on that, it seems that we're on track with our four member club. Now we need to think up a name, become a registered company (limited partnership seems to be the way to go), and get a checking account. At least the other person at the meeting said that they like to do administrivia like that.
Hopefully this will become an entertaining way to spend $25-$50 a month, maybe meet at a friend's house once or twice a month, do a pot-luck and general chit-chat and maybe make a buck or two. No one's going to get rich on $50 a month (at least not right away), but the knowledge learned is the true reward. Time with friends isn't bad either.
Last night was supposed to be the first meeting, where we were to figure out what we're really after so that everyone's expectations are lined up. It didn't start out too well, with me all alone and continuing to work on work stuff. Eventually, about 40 minutes after the meeting should have started, one other person showed up (out of the possible 4). Hardly a quorum, but we started with the simple things; like what won't people invest in (nothing that kills baby dolphins), and what do we want to invest in -- stocks, bonds, mutual funds, DRIPs, etc.
Eventually we decided that we should get some guidance on the whole club thing and found at least one useful how-to site.
Based on that, it seems that we're on track with our four member club. Now we need to think up a name, become a registered company (limited partnership seems to be the way to go), and get a checking account. At least the other person at the meeting said that they like to do administrivia like that.
Hopefully this will become an entertaining way to spend $25-$50 a month, maybe meet at a friend's house once or twice a month, do a pot-luck and general chit-chat and maybe make a buck or two. No one's going to get rich on $50 a month (at least not right away), but the knowledge learned is the true reward. Time with friends isn't bad either.
posted by Mark at 8:36 AM
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