Anyone in a money club (from the article says, not many people are)? What do you do? Is it worthwhile?
I've heard of investment clubs for quite some time -- but never a "money club." Interested to see what you all think.
And maybe no one is in one but would like to be. Interested in hearing about that as well.
There was a local frugality/simple living club that never quite took off. I think that's the closest thing to what the article is speaking of that I know of.
I am a (loose) member of a local day trading club though.
Posted by: ekrabs | November 04, 2008 at 09:23 AM
FWIW, members of my all-women book club thought about forming one after reading one of Suze Orman's books, but never got around to it.
Posted by: beloml | November 04, 2008 at 11:39 AM
I started one about 4 years ago, and it met regularly once a month for about 2 years before things pettered out. Lately we're been discussing getting together to discuss this year's events. We discussed how to buy stocks, investment/PF books, benefits open-enrollment options, recessions, 401ks/Roths/IRAs, etc. My group had a lot of engineers in it, so we would often get into nerdy things such as the correlations between different asset classes and an in depth discussion of "The Intelligent Asset Allocator" by Bernstein. There was a wide range of initial knowledge about investing, from people who wanted handholding opening a Roth IRA to people who had been investing regularly for 5 years.
Initially I got a lot of weird looks when I invited people to join, but eventually I got a good group of 10, some of whom were initially lukewarm about the idea. After a while random friends of friends started coming up to me and saying they'd heard our group was really neat and asking if they could join. That was cool!
Posted by: megan | November 04, 2008 at 03:30 PM