NEW YORK (TheStreet) -- Social networks can play a big role in your retirement savings strategy. And we’re not talking about tapping Twitter (TWTR) for stock tips or Facebook (FB) for financial insight. Investment clubs and meet-ups –- real life social networks –- can provide education and even a pretty decent profit.
Eric Aker is one of the founding members of the Silicon Valley Model Investment Club, a group of investors comprised of “engineers and regular people.” The club is affiliated with BetterInvesting, a national nonprofit organization dedicated to “commonsense investing practices.” There are 42,000 members nationally and 4,000 local BetterInvesting clubs.
Members meet once a month to review the club’s portfolio, analyze holdings, discuss potential purchases -- and basically have a good time.
Aker says the Silicon Valley club is a nearly equal mix of men and women. He is also a member of another area investment club, comprised strictly of engineers – and mostly men. How does the performance between the two clubs compare? Perhaps surprisingly, the all-engineer club lags behind the more diversified group.
How much of the investment club is nuts-and-bolts stock analysis -- and just plain social?
“It’s about 50/50,” Aker admits. After all, the club’s annual report is headlined with the motto, “Having Fun Making Money.”