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Getbig Main Boards => Gossip & Opinions => Topic started by: figgs on October 11, 2007, 11:13:08 PM
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I don't know anything about investing, but I'm expecting to soon receive a check from financial aid that could be worth over a thousand bucks, and I wonder if I could multiply that with a jackpot of an investment. This financial aid check is found money to me. I can do whatever I want with it. And so why not make money with it? It's a decent wad.
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Just don't become a felon and lose financial aid >:(
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No. Spend it on wine, women, and song. Investing is for old guys who need viagra.
Ok, the real answer is: Maybe. Talk to everyone you can and do heaps of research. The knowledge and experience you gain will be worth a lot more than the $1000.
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Just don't become a felon and lose financial aid >:(
Damn, that would suck. Thanks for the tip.
No. Spend it on wine, women, and song. Investing is for old guys who need viagra.
Ok, the real answer is: Maybe. Talk to everyone you can and do heaps of research. The knowledge and experience you gain will be worth a lot more than the $1000.
You're right. It's the knowledge and experience that really determines how successful this investment would be.
One problem is that I don't know anyone who invests, so far as I understand. Maybe some Getbiggers have some knowledge on the subject.
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One problem is that I don't know anyone who invests, so far as I understand. Maybe some Getbiggers have some knowledge on the subject.
Wish I had more to offer ya Figgs but my "investments" are my time and money reinvested in my business. I have no "portfolio" as such. Those who do (but are not professional traders or wild men) seem to favor the so called "blue chip" solid stocks or funds with good track records, accepting a lower return for a lower risk. Middle class types gravitate toward real estate, but maybe it's a game for the well off too (there's no CGT deferral here like in the US). I'm really talkin' out my ass here tho :-\ so hopefully someone who walks the walk will chime in for you.
Ffs don't rely on Getbig tho. ;D Talk to an accountant, and investment rep at the bank, call some funds, go to the library. Not too long from now, you'll be dealing with a lot more than $1000. Most people shit it away on luxuries and useless frivolities because the notion of "investing" is so foreign to them that they wouldn't know where to start. Gaining a broad knowledge base from the experience of investing this small amount will be more valuable to you later than simply making a good percentage without learning very much. Don't kick yourself if you lose $, just keep what you learn.
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Wish I had more to offer ya Figgs but my "investments" are my time and money reinvested in my business. I have no "portfolio" as such. Those who do (but are not professional traders or wild men) seem to favor the so called "blue chip" solid stocks or funds with good track records, accepting a lower return for a lower risk. Middle class types gravitate toward real estate, but maybe it's a game for the well off too (there's no CGT deferral here like in the US). I'm really talkin' out my ass here tho :-\ so hopefully someone who walks the walk will chime in for you.
Ffs don't rely on Getbig tho. ;D Talk to an accountant, and investment rep at the bank, call some funds, go to the library. Not too long from now, you'll be dealing with a lot more than $1000. Most people shit it away on luxuries and useless frivolities because the notion of "investing" is so foreign to them that they wouldn't know where to start. Gaining a broad knowledge base from the experience of investing this small amount will be more valuable to you later than simply making a good percentage without learning very much. Don't kick yourself if you lose $, just keep what you learn.
GOOD ONE TAPE WORM YOU NAILED IT. THATSAVERY SMART THING FUCK IT ITS FREE MONEY BUT LEARNING AND NOT SPENDING ON DUMB SHIT WILL PAY OFF IN THE END THATS HOW THE RICH GET RICH AND THEPOOR STAY POOR. HEY FIGGS IFYOU NEED ADVICE ON INVESTMENT OPPORTUNITES ASK DEXTER HELL HAVE YOU INVESTING IN STEREOS AND CARS THAT GAIN VALUE.AND APARTMENTS WITH BIG SCREENS AND A RANGE ROVER SITTING IN THE CAR PORT :D
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wtf?
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It's not really enough for the stock market, but, you could put it in a poker account (If you know how to play) and play $100 buy in tournaments. You might get lucky and make a big score.
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wtf?
Haha. Jus' sayin' that the most successful investors I know aren't day traders screaming "buy" and "sell" like in the movies. They're educated, conservative (boring) guys who have diligently taken the time to learn where to invest. They know how tax laws will affect them, budget damn near everything, rarely splurge and are "sensible spenders" (and so are their wives btw). They choose low risk positions and leave their money in for years and decades at a time, and they add to it consistently. At least, those are the boring bastards I know. They think I'm a wild 'n crazy guy. ;D Maybe right.
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Haha. Jus' sayin' that the most successful investors I know aren't day traders screaming "buy" and "sell" like in the movies. They're educated, conservative (boring) guys who have diligently taken the time to learn where to invest. They know how tax laws will affect them, budget damn near everything, rarely splurge and are "sensible spenders" (and so are their wives btw). They choose low risk positions and leave their money in for years and decades at a time, and they add to it consistently. At least, those are the boring bastards I know. They think I'm a wild 'n crazy guy. ;D Maybe right.
Very true. You have to learn, that is why time is so valuable.
It pays off so you don't have to work at all. Spend your time learning and let your money do the work.
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yes, illegal drugs
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Very true. You have to learn, that is why time is so valuable.
It pays off so you don't have to work at all. Spend your time learning and let your money do the work.
Sounds good to me ;D who has time to work 40-50hrs aweek...
Are you doing this type of thing? How does one get started with this if they have some money saved up?
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$1000 is not bad money but too little to do any real investing. You need about 5-10k to start low. I suppose you could put it in a monthly gic; compound interest is low but it beats savings accounts. If I were you, I'd buy one big ticket item that brings you pleasure and will last for years. The rest you can party with. :D
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Commodities, bro. Buy yourself some silver or grab an ounce and a half of gold.
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Commodities, bro. Buy yourself some silver or grab an ounce and a half of gold.
No, he'll do better with coffee and pork bellies. Even if the price drops you've still got breakfast.
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I don't know anything about investing, but I'm expecting to soon receive a check from financial aid that could be worth over a thousand bucks, and I wonder if I could multiply that with a jackpot of an investment. This financial aid check is found money to me. I can do whatever I want with it. And so why not make money with it? It's a decent wad.
yes its worth to try to invest it. but be ready to lose they money...even if you dont make big bucks from the investment it can be a good learning experience.
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I don't know anything about investing, but I'm expecting to soon receive a check from financial aid that could be worth over a thousand bucks, and I wonder if I could multiply that with a jackpot of an investment. This financial aid check is found money to me. I can do whatever I want with it. And so why not make money with it? It's a decent wad.
let me get this straight..you are getting a 1000 bucks from financial aid and you want to invest it...first question: do you need the money, if not, then why are you keeping it...send it back to financial aid..you'll pay it back and then some later on...
if you do need the money then use it for your education numb nuts and not with some dumb ass grand plan to make a fortune day trading...
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NO............
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Get a QP of some diesel, white widow or jack. Bag up only 20s...it should take about a month to get rid of...you will triple your money easy...and thats with a head stash of a quarter.
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figgs, buy something nice for your mother you heathen...
then get a baby oil handjob/ back massage, eat a good meal, drink to excess.....
put whats left in the bank for a rainy day....
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You'd have to sit on a 1000 bucks for a really, really long time to get anything out of it. A very good investment (10%) will double in value every 7 years or so.
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I don't know anything about investing, but I'm expecting to soon receive a check from financial aid that could be worth over a thousand bucks, and I wonder if I could multiply that with a jackpot of an investment. This financial aid check is found money to me. I can do whatever I want with it. And so why not make money with it? It's a decent wad.
ING Direct is paying 4.3%. The advantage is that you can transfer funds between your checking and this savings account so you're not tied into any investment in case you need liquidity. This is probably your best bet since you don't have that much to put away and you know very little about investing.
http://home.ingdirect.com/
Or..... alternatively you could just blow it on your next cycle.
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Put it all down on Red! Vegas baby!
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GOOD ONE TAPE WORM YOU NAILED IT. THATSAVERY SMART THING FUCK IT ITS FREE MONEY BUT LEARNING AND NOT SPENDING ON DUMB SHIT WILL PAY OFF IN THE END THATS HOW THE RICH GET RICH AND THEPOOR STAY POOR. HEY FIGGS IFYOU NEED ADVICE ON INVESTMENT OPPORTUNITES ASK DEXTER HELL HAVE YOU INVESTING IN STEREOS AND CARS THAT GAIN VALUE.AND APARTMENTS WITH BIG SCREENS AND A RANGE ROVER SITTING IN THE CAR PORT :D
Are you suggesting that investing in 1000 DVD's isnt a good investment?
I was gonna retire on those DVD's dammit!!
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ING Direct is paying 4.3%. The advantage is that you can transfer funds between your checking and this savings account so you're not tied into any investment in case you need liquidity. This is probably your best bet since you don't have that much to put away and you know very little about investing.
http://home.ingdirect.com/
Or..... alternatively you could just blow it on your next cycle.
4.3 % on a savings account is pretty damn good. I know lots of companies are starting to offer these, some as high as 6 %. Getting a 6% return on a savings account makes putting your money there a no-brainer
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ING Direct is paying 4.3%. The advantage is that you can transfer funds between your checking and this savings account so you're not tied into any investment in case you need liquidity. This is probably your best bet since you don't have that much to put away and you know very little about investing.
http://home.ingdirect.com/
Or..... alternatively you could just blow it on your next cycle.
4.3 is yesterdays for sure :-)
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Donate the money to Mr. Getbig 3.
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Yes it is . . . A young man / woman can open a solid Mutual fund account and take an aggressive position ( an adj used to define the length of time one will be in the market. ) With monthly contributions of as little $50. dollars, in 30 years that person could receive monthly payments of $8,000 dollars or more . ANY WELL RUN MF CAN EARN 10 TO 12% AND AT 12% YOUR BALANCE WOULD DOUBLE EVERY 6 YEARS!!!
Think about the effects of dollar cost averaging ( put your money in frequently . . . $12.50 per week on the min of $50, if possible ) and one can do very well for themselves.
The Beef
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I don't know anything about investing, but I'm expecting to soon receive a check from financial aid that could be worth over a thousand bucks, and I wonder if I could multiply that with a jackpot of an investment. This financial aid check is found money to me. I can do whatever I want with it. And so why not make money with it? It's a decent wad.
Put the $1000 in a no-load mutual fund indexed to the S&P 500. It's a simple, relatively safe investment with a reasonable long-term return for someone who knows nothing about investing and doesn't have the time or knowlege for active investing.
Are there ways to make a lot more? Yes, but if you don't have the requisite knowledge (and most people don't, despite what some would have you believe), you're more likely to lose money than make any.
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from what this dude wrote this money is coming from financial aid...and unless it's grant money it needs to be paid back..so dumping a thousand bucks in an ing account and making 40 bucks in interest for the year is pretty silly since he's probably paying between 8-11% interest on the loan...
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from what this dude wrote this money is coming from financial aid...and unless it's grant money it needs to be paid back..so dumping a thousand bucks in an ing account and making 40 bucks in interest for the year is pretty silly since he's probably paying between 8-11% interest on the loan...
Actually student loans have a very low interest rate, but nevertheless, it would be retarded to invest borrowed money unless the interest gained was significantly greater than that of the loan.
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i'll one up you on the ING direct.
gmac has a money market with check writing that's at 4.95 , 5.something APY.
i've just in the last year started "investing" and saving seriously.
i set guidelines for myself on how much to invest. i've reached my money market / CD goal and now will follow up with what goatboy suggested and put money away into mutual funds.
a good mutual fund if you so desire is the vanguard STAR fund, it's only 1000 to start!
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If you're under 25, put the $1k in an agressive account, have $100 a month directly deposited into that account every month from one of your bank accounts, and you'll never have to worry about retirement.
Or, if you have the extra cash to do it each month, take the $1k, put it in a less agressive investment, continue to add the $1k a month for 5 years or so. Take that money, and purchase a home near a college. You should be able to cover the full cost of the purchase for a small home. Assuming you have a renter 70% of the time, you'll have around another $1k of extra cash each month that you can use for whatever.
When the housing market comes back, you can sell the house and make some more extra cash.
Or, you can purchase a precontest diet plan from me at www.troponinnutrition.co m ;)
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I would invest it in some steroids. That sould be enough to get you ready for a local show and with the winnings should give you enough for some supplements and tanning oil. Plus, you'd be able to tell people you compete. So, I think it would be worth it. ;)
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If you're under 25, put the $1k in an agressive account, have $100 a month directly deposited into that account every month from one of your bank accounts, and you'll never have to worry about retirement.
Or, if you have the extra cash to do it each month, take the $1k, put it in a less agressive investment, continue to add the $1k a month for 5 years or so. Take that money, and purchase a home near a college. You should be able to cover the full cost of the purchase for a small home. Assuming you have a renter 70% of the time, you'll have around another $1k of extra cash each month that you can use for whatever.
When the housing market comes back, you can sell the house and make some more extra cash.
Or, you can purchase a precontest diet plan from me at www.troponinnutrition.co m ;)
what's a 1k aggressive account? i'll buy one and have them give you a referral bonus! ;D
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I would invest it in some steroids. That sould be enough to get you ready for a local show and with the winnings should give you enough for some supplements and tanning oil. Plus, you'd be able to tell people you compete. So, I think it would be worth it. ;)
all you need in life is one good drug deal. do not become a drug user. just be a dealer and be able to walk away once you've earned 10,000 cash. buy a cheap house near a college like somebody said then rent it out. 10 grand will be enough for a down payment, some improvements and the insurance for a year.
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what's a 1k aggressive account? i'll buy one and have them give you a referral bonus! ;D
I'm not hip to the "wording" of accounts.
I'd tell my investor that I want to start a long term investment with $1k, with an additional $100 added each month.
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Seeing you guys talk about "investing" is like watching Brittney Spears try to give advice on engineering a space shuttle.
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buy AAPL
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Thanks for all the advice guys! :D Yes, this is FOUND MONEY. I can do whatever I want with it and not have to return a cent. If spend it, I'll put half in savings for a car (which I'll probably get withing a year or so), I'll buy my own hydroponic garden for growing my own weed (and of course sell some since I'll have way too much for someone who smokes only once a day), a new VAPORIZER for smoking weed, no clothes since I'm way too good at stealing from macy's, $200 for a skydiving trip, $100 for psychedelic drugs (shrooms and DMT).
I'm pretty sure I'll be content with making those decisions.
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what's a 1k aggressive account? i'll buy one and have them give you a referral bonus! ;D
Aggression is a word that indicates you are in a position to ride the market for 20 yrs or more. If you're gonna retire tomorrow put your money in your pocket, 5 years from now, a savings account, 10 years a mutual fund with with a low aggressive profile. 20 or more years and you will be VERY WELL OFF!!!!!!!
The Beef knows Mutial funds . . . 43 been in from 16 ( saving from 9 ) over 1.4M.
The Beef
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Bet the farm on LSU at Kentucky tommorrow...
Bet the farm on Florida at Kentucky the week after that.
Your $1,000 would be $4,000 in 2 weeks.
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I don't know anything about investing, but I'm expecting to soon receive a check from financial aid that could be worth over a thousand bucks, and I wonder if I could multiply that with a jackpot of an investment. This financial aid check is found money to me. I can do whatever I want with it. And so why not make money with it? It's a decent wad.
You can make money with very small amounts figgs. That's my "play money" account. I started with 4k 2yrs ago, just for fun, off of my "real investments"... If I can do it, so can you.
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Aggression is a word that indicates you are in a position to ride the market for 20 yrs or more. If you're gonna retire tomorrow put your money in your pocket, 5 years from now, a savings account, 10 years a mutual fund with with a low aggressive profile. 20 or more years and you will be VERY WELL OFF!!!!!!!
The Beef knows Mutial funds . . . 43 been in from 16 ( saving from 9 ) over 1.4M.
The Beef
1- how much of the 1.4 million are you actually going to be able to spend? Its a fictional number. Capital gains tax is the lowest its been in god knows how many years under the bush administration( 15%) Do you thing that there is any chance this could go up?
2- what about the lost opportunity cost you have on the taxes that you pay from your account over the time that you have it. Every year the IRS gets a piece of paper from the MF company on how much you owe.
3-once you are in retirement, how do you plan on spending your money without running the chance of running out? Live off of the interest from a CD? Money market? Is there a chance that interest rates might fluctuate?
4- In the amount of time that you have until retirement, do you think there is a chance of an unforseen event happening? What if its the year before you decide to retire and another september 11 type event happens, and a third to a half of your account is wiped out. What do you do? Postpone retirement? Live off of less?
just some things to ponder the your fee based financial planners don't tell you about.
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put everything into trusts so you own nothing and defer taxes to your yet to be born grandchildren and by that time your 1.4 will be 12.2
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put everything into trusts so you own nothing and defer taxes to your yet to be born grandchildren and by that time your 1.4 will be 12.2
deffering your taxes is a bad idea. Brackets change as different presidents come into office. Say whatever you want about bush and his policies, but the fact of the matter is bush # 1 and #2 have kept the national average tax brackets lower than the past 100 years.Thats why I dislike 401 ks so much...you are putting your money in when you are in a lower tax bracket, and withdrawing them when you are in a higher one.
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deffering your taxes is a bad idea. Brackets change as different presidents come into office. Say whatever you want about bush and his policies, but the fact of the matter is bush # 1 and #2 have kept the national average tax brackets lower than the past 100 years.Thats why I dislike 401 ks so much...you are putting your money in when you are in a lower tax bracket, and withdrawing them when you are in a higher one.
thanks for you opinion but i like what i'm doing
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thanks for you opinion but i like what i'm doing
hey no problem...like you said, its just my opinion. At least you are doing something, and that is a lot more than what most people are doing. :)
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hey no problem...like you said, its just my opinion. At least you are doing something, and that is a lot more than what most people are doing. :)
I save ALL my spare change.
"Got any spare change brother?" "Ya, get your own retirement fund ya stinkin bum!" HAHA OWNED
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yes, illegal drugs
I think this was the only "sound" advice, on how to actually invest.
Apply the role strain theory to yourself and the strong desire for money, you could become the next Tony Montana
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no clothes since I'm way too good at stealing from macy's, $200 for a skydiving trip, $100 for psychedelic drugs (shrooms and DMT).
wow, you sound like a real winner.
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I think this was the only "sound" advice, on how to actually invest.
Apply the role strain theory to yourself and the strong desire for money, you could become the next Tony Montana
gotta start somewhere,
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I save ALL my spare change.
"Got any spare change brother?" "Ya, get your own retirement fund ya stinkin bum!" HAHA OWNED
hahahahah great idea ;D
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wow, you sound like a real winner.
You're pretty quick at making a judgement.
I recently challenged myself to steal a few hundred bucks worth of clothes from macy's. I have no history of stealing I just wanted to see if I were smart enough to get away with it. Well, I did it on three occasions since then and each time I had a more efficient operation at work. I don't feel any guilt. It's really not like stealing candy from a baby. I stole a new wardrobe of clothes I'd never wear if I didn't steal them. $60-175 shirts. Not a bad deal, I think.
At this time I don't think I'd be able to jump out of a plane if I wanted. I don't know anyone else as crazy as I am... Good! I'll save $200.
I'm new to psychedelics. I only took shrooms once almost a year ago. I've always wanted to do them again. I've never done DMT. I just learned about it. It's become one of the most fascinating things I've ever learned about. If you're curious, learn about it here: http://vids.myspace.com/index.cfm?fuseaction=vids.individual&videoID=1343056044
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You're pretty quick at making a judgement.
I recently challenged myself to steal a few hundred bucks worth of clothes from macy's. I have no history of stealing I just wanted to see if I were smart enough to get away with it. Well, I did it on three occasions since then and each time I had a more efficient operation at work. I don't feel any guilt. It's really not like stealing candy from a baby. I stole a new wardrobe of clothes I'd never wear if I didn't steal them. $60-175 shirts. Not a bad deal, I think.
At this time I don't think I'd be able to jump out of a plane if I wanted. I don't know anyone else as crazy as I am... Good! I'll save $200.
I'm new to psychedelics. I only took shrooms once almost a year ago. I've always wanted to do them again. I've never done DMT. I just learned about it. It's become one of the most fascinating things I've ever learned about. If you're curious, learn about it here: http://vids.myspace.com/index.cfm?fuseaction=vids.individual&videoID=1343056044
Joe Rogan knows alot about DMT and has alot of experiiences you can find out about on youtube. Id suggest you check'em out!(haha i see the vid now *OWNED*)
It's shroom time as we speak they're in season and I won't be having any tea! Ask if you needs tip on making tea...
Did you get so high on the shrooms all you wanted to do is come down? I did >:(
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Joe Rogan knows alot about DMT and has alot of experiiences you can find out about on youtube. Id suggest you check'em out!(haha i see the vid now *OWNED*)
It's shroom time as we speak they're in season and I won't be having any tea! Ask if you needs tip on making tea...
Did you get so high on the shrooms all you wanted to do is come down? I did >:(
DMT is rediculous. I saw all the videos I could find on it. I need to make some asap.
I just planned on eating the shrooms. Does shroom tea meddle with its potency?Is shrooms tea not as potent?
lol dude when I was on shrooms I had a complete detachment from my ego. I just kept trying to find it the whole time, and it became so that all I could think of was the fact that I couldn't think of anything. It sounds scary but it's not that bad as I look back on it. Having that bad trip taught me how I could have a great trip. Your enivronment has to be controlled and be with only people who are close. doing it in complete isolation must be some crazy mind trip.
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DMT is rediculous. I saw all the videos I could find on it. I need to make some asap.
I just planned on eating the shrooms. Does shroom tea meddle with its potency?Is shrooms tea not as potent?
lol dude when I was on shrooms I had a complete detachment from my ego. I just kept trying to find it the whole time, and it became so that all I could think of was the fact that I couldn't think of anything. It sounds scary but it's not that bad as I look back on it. Having that bad trip taught me how I could have a great trip. Your enivronment has to be controlled and be with only people who are close. doing it in complete isolation must be some crazy
mind trip.
Tea is every bit as potent and safer. Regular unboiled shrooms are gross and have little white worms in them. Many people have told me they can give you heart worms..
I never thought much of that til I saw pencil led sized worms inside the caps!
I boil the shrooms in about 24 ounces of water inside a womans nylon for 10-15 minutes in a medium sized pot with medium boiling heat. Then simply drink the tea which basicly tastes like dirt (literally). Sounds weird. But you can eat the shroms and drink the tea. Just boil them to avoid germs and worms.
Don't do too much honestly you can get too high. I was feeding a telephone pole popcorn one night and ended up in my bathroom taking apart my sink. I had the "isolate myself in the room" attitude but when your high that flies out the window man. It weird the thoughts I got like... It's like anything is possible. Its incredible. And scary.
And never do too many cuz you think you aren't high, be patient ;D
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I save ALL my spare change.
"Got any spare change brother?" "Ya, get your own retirement fund ya stinkin bum!" HAHA OWNED
YES!!!!! you have found the secret to financial independence ;D
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dont forget powerball and scratch tickets and the one-armed bandits at the track.
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dont forget powerball and scratch tickets and the one-armed bandits at the track.
on a serious note...I had a friend that bought 3 $20 dollar each lottery tickets. Apparently the chances of winning are something like 1 in 10,000 which is better than the regular lotto. He does this every week. Epic intelligence.
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YES!!!!! you have found the secret to financial independence ;D
I do no wish to brag, but you could even say that I have amassed a plethora of spare change.
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Tea is every bit as potent and safer. Regular unboiled shrooms are gross and have little white worms in them. Many people have told me they can give you heart worms..
I never thought much of that til I saw pencil led sized worms inside the caps!
I boil the shrooms in about 24 ounces of water inside a womans nylon for 10-15 minutes in a medium sized pot with medium boiling heat. Then simply drink the tea which basicly tastes like dirt (literally). Sounds weird. But you can eat the shroms and drink the tea. Just boil them to avoid germs and worms.
Don't do too much honestly you can get too high. I was feeding a telephone pole popcorn one night and ended up in my bathroom taking apart my sink. I had the "isolate myself in the room" attitude but when your high that flies out the window man. It weird the thoughts I got like... It's like anything is possible. Its incredible. And scary.
And never do too many cuz you think you aren't high, be patient ;D
Wow! Worms?! That's fucking disgusting. I'm glad you told me this. lolThanks for the tip. Shroom tea definetely sounds like the better alternative.
That trip sounds pretty crazy, man!
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You're pretty quick at making a judgement.
I recently challenged myself to steal a few hundred bucks worth of clothes from macy's. I have no history of stealing I just wanted to see if I were smart enough to get away with it. Well, I did it on three occasions since then and each time I had a more efficient operation at work. I don't feel any guilt. It's really not like stealing candy from a baby. I stole a new wardrobe of clothes I'd never wear if I didn't steal them. $60-175 shirts. Not a bad deal, I think.
At this time I don't think I'd be able to jump out of a plane if I wanted. I don't know anyone else as crazy as I am... Good! I'll save $200.
I'm new to psychedelics. I only took shrooms once almost a year ago. I've always wanted to do them again. I've never done DMT. I just learned about it. It's become one of the most fascinating things I've ever learned about. If you're curious, learn about it here: http://vids.myspace.com/index.cfm?fuseaction=vids.individual&videoID=1343056044
i take back what I said earlier . . . you the man . . . your mother will be so proud.
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I don't know anything about investing, but I'm expecting to soon receive a check from financial aid that could be worth over a thousand bucks, and I wonder if I could multiply that with a jackpot of an investment. This financial aid check is found money to me. I can do whatever I want with it. And so why not make money with it? It's a decent wad.
Epic spending pell grant and TAP money.. Yeah, I know about that stuff :P
I put it in a high yield overseas bankaccount that isn't traced to me here. That way, I still reap financial aid, both state and federal. Going to school for a discount off of the tax payer.. hahaha I am against it myself, yet am a hypocrite for getting its benefits. I don't get full though, not even close to full.. You probably filed your own tax papers with little income and wound up with a lot than me.
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My bangladeshi savings account is over 8 percent in its rate.. Getting the money there is tricky, of course I never send over 10 grand, so.
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Payoff has to be greater than the interest you'll pay on it. Some folks do pretty well with loan checks. Enjoy the Dow short term, but long term, it's likely worth less than it's been at. We went from 3500 to 14000 in the last 6 years thanks to the war. That's not sustainable. So enjoy it, use it now, but long term, watch your ass.
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Payoff has to be greater than the interest you'll pay on it. Some folks do pretty well with loan checks. Enjoy the Dow short term, but long term, it's likely worth less than it's been at. We went from 3500 to 14000 in the last 6 years thanks to the war. That's not sustainable. So enjoy it, use it now, but long term, watch your ass.
Like a 20 year old kid is gonna look at the stock market.. ::) Play it safe and save the damn thing, even if means opening an ING account or something, which might effect his financial aid status of course.
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i take back what I said earlier . . . you the man . . . your mother will be so proud.
Eh, I suppose as long as I'm content with the decisions I make...
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Eh, I suppose as long as I'm content with the decisions I make...
i'm sure the 30 y o figgs will be too.
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Don't get financial advice from bodybuilders.
There's been absolutely terrible advice posted in this thread. Read about investing. I like this blog:
http://www.getrichslowly.org/
Don't believe anyone that's selling an exotic investment scheme. Tax deferred low load ETF's or mutual funds are the best investment. Open an IRA (Roth or otherwise) and put it all in the S&P 500 (.INX)
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Don't get financial advice from bodybuilders.
there aren't a lot of bodybuilders here.
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Your advice is piss poor to put it nicely.
Accumulating money in tax deferred ETF's and mutual funds is NOT investing. It is "Saving with Risk"
Real investing is not earning 10% per year, it is earning 10% per month while you have full control of your money with near zero risk.
Spewing the same garbage coming from financial institutions (Fidelity, JPMorgan, etc.) is not giving investment advice. You are just a live commercial that has bought into a philosophy marketed towards middle class sheep, convincing them to take all the risk and hand over their money to a financial institution for 30 years and think that they are "investing"
Don't get financial advice from bodybuilders.
There's been absolutely terrible advice posted in this thread. Read about investing. I like this blog:
http://www.getrichslowly.org/
Don't believe anyone that's selling an exotic investment scheme. Tax deferred low load ETF's or mutual funds are the best investment. Open an IRA (Roth or otherwise) and put it all in the S&P 500 (.INX)
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Don't get financial advice from bodybuilders.
There's been absolutely terrible advice posted in this thread. Read about investing. I like this blog:
http://www.getrichslowly.org/
Don't believe anyone that's selling an exotic investment scheme. Tax deferred low load ETF's or mutual funds are the best investment. Open an IRA (Roth or otherwise) and put it all in the S&P 500 (.INX)
this is the worst advice posted on this thread thus far.
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1- how much of the 1.4 million are you actually going to be able to spend? Its a fictional number. Capital gains tax is the lowest its been in god knows how many years under the bush administration( 15%) Do you thing that there is any chance this could go up?
2- what about the lost opportunity cost you have on the taxes that you pay from your account over the time that you have it. Every year the IRS gets a piece of paper from the MF company on how much you owe.
3-once you are in retirement, how do you plan on spending your money without running the chance of running out? Live off of the interest from a CD? Money market? Is there a chance that interest rates might fluctuate?
4- In the amount of time that you have until retirement, do you think there is a chance of an unforseen event happening? What if its the year before you decide to retire and another september 11 type event happens, and a third to a half of your account is wiped out. What do you do? Postpone retirement? Live off of less?
just some things to ponder the your fee based financial planners don't tell you about.
Much of this is valid and worth factoring in to your decision making regarding retirement investing. However, The Beef feels that most over complicate these decisions and because of that, do little if any thing to aid in developing a retirement income program.
1- Things are different here in Canada with respect to taxation on capital gains. The 8k is a spendable sum and not based on the current value of The Beefs MF. The Beefs MF will double ( in theory 4 more times prior to retirement.) One also needs to understand The Beef still makes weekly contributions, well in excess of the $12.50 The Beef recommended to a young " aggressive " investor who would receive the 8k monthly referenced above. The Beef will receive far more then 8k monthly.
2- Can you comment further on lost opportunity ?
3- Th plans for the monthly stipend are basic, it will be used to under write the cost of The Beef's living expenses. The Beef looks upon MF as the footing onto which a retirement foundation is built. With a mortgage free home $499,000.00 ( current market value ) a monthly income from The Beefs employer and The Beef's monthly $1200 government pension ( paid to all Canadians over 65 ) things look good. The Beef does not feel that between 65 and death The Beef will scratch the surface of his income fund. When The Beef needs to be cared for, the retirement facility would receive the monthly benefits of the Beefs fund and upon The Beef's passing the fund would be paid out to a beneficiary ( The beef's great nephew ) and would be taxed at the time of pay out.
4- The Beef does not factor this into his plans to any degree and nor should anyone structuring a retirement portfolio. These considerations are for fund managers to deal with and with that in mind, The Beef's MF ( and employer pension fund ) rode out 9/11 very well. Again, the aggressive position ( length of time you are in the market ) offsets these term loses providing that the MF is diversified and maximises the advantages that come from the Canadian and foreign content regulations .
The Beef
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this is the worst advice posted on this thread thus far.
No this is:
deffering your taxes is a bad idea. Thats why I dislike 401 ks so much...you are putting your money in when you are in a lower tax bracket, and withdrawing them when you are in a higher one.
The primary advantage of a 401k or IRA is that the (tax deferred) additional money you pay into your investment *grows* tax free. Do you understand the exponential function? If you expect to be fabulously wealthy, you can do a Roth 401k and pay no taxes on withdraw. If you're arguing against tax managed funds then ::)
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No this is:
The primary advantage of a 401k or IRA is that the (tax deferred) additional money you pay into your investment *grows* tax free. Do you understand the exponential function? If you expect to be fabulously wealthy, you can do a Roth 401k and pay no taxes on withdraw. If you're arguing against tax managed funds then ::)
while you might think that your money is at an advantage growing tax free you are going to get nailed on the distribution phase. One way or another, uncle sam is going to get his cut. People that are relying on their 401 k's for retirement are subject to the following risks:
1-CONSTANTLY changing tax brackets
2-market risk
3- fees
4-loss of liquidity( they cannot touch their money until 59 1/2)
5-funding the account in a Low tax bracket, then possibly collecting from a higher one.
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Much of this is valid and worth factoring in to your decision making regarding retirement investing. However, The Beef feels that most over complicate these decisions and because of that, do little if any thing to aid in developing a retirement income program.
1- Things are different here in Canada with respect to taxation on capital gains. The 8k is a spendable sum and not based on the current value of The Beefs MF. The Beefs MF will double ( in theory 4 more times prior to retirement.) One also needs to understand The Beef still makes weekly contributions, well in excess of the $12.50 The Beef recommended to a young " aggressive " investor who would receive the 8k monthly referenced above. The Beef will receive far more then 8k monthly.
2- Can you comment further on lost opportunity ?
3- Th plans for the monthly stipend are basic, it will be used to under write the cost of The Beef's living expenses. The Beef looks upon MF as the footing onto which a retirement foundation is built. With a mortgage free home $499,000.00 ( current market value ) a monthly income from The Beefs employer and The Beef's monthly $1200 government pension ( paid to all Canadians over 65 ) things look good. The Beef does not feel that between 65 and death The Beef will scratch the surface of his income fund. When The Beef needs to be cared for, the retirement facility would receive the monthly benefits of the Beefs fund and upon The Beef's passing the fund would be paid out to a beneficiary ( The beef's great nephew ) and would be taxed at the time of pay out.
4- The Beef does not factor this into his plans to any degree and nor should anyone structuring a retirement portfolio. These considerations are for fund managers to deal with and with that in mind, The Beef's MF ( and employer pension fund ) rode out 9/11 very well. Again, the aggressive position ( length of time you are in the market ) offsets these term loses providing that the MF is diversified and maximises the advantages that come from the Canadian and foreign content regulations .
The Beef
you seem like a smart guy and I dont feel like going back and forth. But to answer #2. The taxes and fees that you pay each year due to your mutual funds create a lost opportunity cost. As in you are losing the interest and return that money payed out could have earned you. Good luck!!
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i'm sure the 30 y o figgs will be too.
Believe me, the 30 year old Figgs is going to be in the prime of his life. ;)
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you seem like a smart guy and I dont feel like going back and forth. But to answer #2. The taxes and fees that you pay each year due to your mutual funds create a lost opportunity cost. As in you are losing the interest and return that money payed out could have earned you. Good luck!!
Thanks for the well wishes, bro. You seem to very well versed on financial matter.
The Beef
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why are you stealing clothes for ???
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what happened to the guy with 1,000 dollars?
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what happened to the guy with 1,000 dollars?
Maybe he's wishing us "the very best of goodbyes."
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I don't know anything about investing, but I'm expecting to soon receive a check from financial aid that could be worth over a thousand bucks, and I wonder if I could multiply that with a jackpot of an investment. This financial aid check is found money to me. I can do whatever I want with it. And so why not make money with it? It's a decent wad.
get a capital one money ,arket best thihng you can do wth 1000 it'll give 5% intrest and you can hit it up whenever you like