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Dough
Chillin


Registered: 05/25/12
Posts: 1,110
Loc: New England
Last seen: 6 years, 1 month
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A worthwhile investment?
#16841706 - 09/13/12 03:52 PM (11 years, 5 months ago) |
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So over this summer I got a hell of a lot of weed and did you know what with it that allowed me to progressively buy bigger. I like to smoke, but my MO is money over it. Been in it for a little while and I don't wanna stay in forever, its really the money I care about and being in and out before you get fucked. Just a quick but tedious way to enhance your quality of life long term.
Im tight with my shit and been robbed this summer by someone I know unfortunately, so you can bet I'm not about to let anyone fuck with me anymore.
I remember a teacher I had a few years ago as a senior had a plan to make you a millionaire by 40 and I'm about to try. I'm stingy to begin with and I stash all my paychecks bc I have a secondary(s) income
So I'm starting to deal with hundreds and thousands and thats a shitload of money, too much to let sit. I believe its called a Roth IRA, that progressively builds up what you put in, like a savings bond or something. I could start one with 500$ right now but thats weak and if I'm gonna, its about be at least 2,000+ in the near future once I'm ready. I've told my dad who is good with finance I want to do this and he says its not a good idea because of the current economy and that I need to pay off loans and yada yadayada.. he doesn't know where the money comes from which may throw off his advice but in reality I'd be just broke as fuck right now as I was a year ago when I didn't have a job. I got a lot of work that went straight to the bank this summer.
So basically is it advisable to start up one of these ROth's,(or something else?, stocks, investment companies etc,,) with what I want to put in. It sounds really negr0
but I hustle hard as fuck
and wanna be even better off than my parents who I know for a fact didn't get the money like I am now, but still took me overseas on vaca, snowboarding in the winter and to do all sorts of fun shit most people havent done because they got good jobs.
I'm a woods freak and am so pumped I am studying environmental science now and its a great field that should land me a schweet job I will most likely love.
-------------------- Trippy Kit trippy mane
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bloodsheen
ChemChaplin



Registered: 09/24/08
Posts: 7,659
Last seen: 4 years, 1 month
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Re: A worthwhile investment? [Re: Dough]
#16841817 - 09/13/12 04:15 PM (11 years, 5 months ago) |
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Idk man, thats a lot of money to have on record that you have no ability to account for. This is why people launder money, no matter what you do with it you have to come up with a legit reason to have it. Squirreled away or not its still pretty sketchy. Personally I would consider investing in like gold or silver, you can buy as much as you want and put it in a safe deposit box and nobody is the wiser. Granted its not gonna get you as much money in the long run, at least it probably wont, but at least its safe and its income you can steadily access without too much suspicion
Idk, I'm no gangster though
--------------------
A cautious young fellow named Lodge / Had seat belts installed in his Dodge. / When his date was strapped in / He committed a sin / Without even leaving the garage. That's clever, isn't it?-A boy and his dog
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iateshaggy
i haxor 360s



Registered: 05/20/05
Posts: 4,707
Loc: 612 Warf Avenue, next to....
Last seen: 11 days, 18 hours
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Re: A worthwhile investment? [Re: bloodsheen]
#16841949 - 09/13/12 04:40 PM (11 years, 5 months ago) |
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roth ira's are good investments, just make sure you diversify even in your account. the key is to always be putting money in it. turn your retirement fund into a monthly bill and don't touch that shit till you are ready to retire and you shouldn't have a problem retiring at a young enough age to enjoy being retired. as stated, you better be able to prove your income. if you have a cash biz and a legit job, use the cast on gas food clothing and other things u can buy with cash and keep the legit money for paying bills and saving up. if you are making more cash than that then you need to find a mattress to stuff away from your property.
-------------------- You are a filipina sex goddess who wants to fuck me until I fall asleep, so then you can tickle my balls and see if the legend of my diamond filled nutsuck is true. I am a white man from costa rica, who smells like lime jello.
I can flash/jtag/repair 360's, pm for details.
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Groovy Grant

Registered: 07/31/00
Posts: 6,635
Loc: TX
Last seen: 1 month, 3 days
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Re: A worthwhile investment? [Re: Dough]
#16842319 - 09/13/12 05:57 PM (11 years, 5 months ago) |
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The max you can put in a ROTH IRA is $5,000 currently. (More if you're over 50, which I assume you are not). I highly doubt the IRS is going to come knocking if you max out your ROTH. Especially if you have verifiable income from other sources.
I also doubt anyone is going to question deposits into another investment vehicle if they seem inline with your income. If you begin making large cash deposits ($10,000+) it's going to throw red flags. I believe banks are required to alert of suspicious activity or large cash deposits, at some point. Not sure what amount that would be to trigger it.
Edited by Groovy Grant (09/13/12 06:04 PM)
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Bambi
Friendly Forrest Animal




Registered: 03/22/09
Posts: 1,668
Last seen: 7 months, 16 days
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Re: A worthwhile investment? [Re: Dough]
#16844344 - 09/13/12 11:49 PM (11 years, 5 months ago) |
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Quote:
Dough said: It sounds really negr0
but I hustle hard as fuck
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"I want to read, talk with my friends via the computer, and enjoy my life now that people know I'm not dead. " -Rom Houben
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Gilgamesh18
Herbivore Man

Registered: 03/01/12
Posts: 11,671
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Re: A worthwhile investment? [Re: Bambi]
#16845418 - 09/14/12 09:26 AM (11 years, 5 months ago) |
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Buy silver
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unknown1123
Experimental

Registered: 05/15/08
Posts: 5,813
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Re: A worthwhile investment? [Re: Gilgamesh18] 1
#16848016 - 09/14/12 07:00 PM (11 years, 5 months ago) |
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Do all the things mentioned. Keep that hustle up
See ya in jail eventually tho, from the other side of the bars
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scatmanrav
Brainy Smurf


Registered: 05/08/04
Posts: 11,483
Loc:
Last seen: 11 years, 1 month
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Re: A worthwhile investment? [Re: Dough]
#16848977 - 09/14/12 10:43 PM (11 years, 5 months ago) |
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Quote:
Dough said: I've told my dad who is good with finance I want to do this and he says its not a good idea because of the current economy and that I need to pay off loans.
Think about what hes saying. Right now is an OK time to put into an IRA or silver or gold. They are shaky markets though and who knows what returns you'll get without actively managing an account. Your only dealing with thousands of dollars, not to much for most investments. Paying off loans that have any interest can be a big investment. A 3-6% return on an investment isnt a bad return, 10-14% is pretty good. Credit cards charge you 3-16+% on interest so just by paying them off your getting that return. Car loans and student loans can be even more. Look at what debts you have and the interest on them, and then your expected return on an investment of your choice that people have mentioned.
This was from another post of someone looking at where to put his money, after looking at what he was spending:
Quote:
meams said:
Quote:
PDU said: I would aggressively pay off the debt in full, and then maintain the same discipline with my savings for a downpayment.
After actually LOOKING at my student loan payment today and realizing that of my $250 payment, $175 of that is interest and only $75 goes towards paying off the principle, I am definitely going to be putting every excess penny towards my student loans.
There is no return on my savings out there that will supersede the money I'm paying in interest right now on this ~3X,XXX.XX.
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Groovy Grant

Registered: 07/31/00
Posts: 6,635
Loc: TX
Last seen: 1 month, 3 days
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Re: A worthwhile investment? [Re: scatmanrav]
#16850059 - 09/15/12 06:03 AM (11 years, 5 months ago) |
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YOU CANNOT TIME THE MARKET, in the long run, AND WIN! You don't need to worry about fluctuations if you use the power of dollar cost averaging, on whatever investment you decide on. BY making constant, regular investments in the same products, you get the best price over time.
If you're going to buy PM, don't just buy a lump sum once. Instead perhaps split the purchase into several smaller purchases spread out over a longer length of time. That goes for everything you invest in. If you're willing to invest in something now, and hold it, then you should be willing to continue to purchase that investment at prices below and above that current price (unless that price exceeds your target sell price, which at that point you should be eliminating the position).
This is a very important concept of investing. Trying to time buy and sells isn't investing, it's speculation. When you purchase any investment, you should know right then and there when you'll be willing to sell it. Whether it goes up or down. Figure out what your risk is, for a loss, and what you think a good price to sell would be.
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pothead_bob
Resident Pothead



Registered: 04/12/08
Posts: 1,811
Loc: Your computer screen
Last seen: 3 years, 10 months
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Quote:
The max you can put in a ROTH IRA is $5,000 currently. (More if you're over 50, which I assume you are not). I highly doubt the IRS is going to come knocking if you max out your ROTH. Especially if you have verifiable income from other sources.
Another stipulation is that you have to have at least as much in earned income as you are putting into your Roth. In other words, if you put $5,000 into your Roth in one year, you have to have earned $5,000 or more that the IRS can see in that same year. I'd imagine OP makes more than $5,000 per year from legitimate sources, but you never know, so it's good to mention.
-------------------- No knowledge can be certain, if it is not based upon mathematics or upon some other knowledge which is itself based upon the mathematical sciences. -Leonardo da Vinci (1425-1519) Speak well of your enemies. After all, you made them.
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ToolTroll
tourettic


Registered: 08/02/04
Posts: 2,326
Loc: N. Cack
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Re: A worthwhile investment? [Re: Dough]
#16862614 - 09/17/12 01:44 PM (11 years, 4 months ago) |
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You do have some cash stashed away for a bail and a lawyer, right hustler?
-------------------- "This whole idea that different is bad, that a change in consciousness is in itself harmful, is really one of the fundamental problems inherent in the drug war.” - Rick Doblin my cactus collection You vote with your dollars. Everyday. Vote responsibly.
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Anonymous
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Re: A worthwhile investment? [Re: ToolTroll]
#16869685 - 09/18/12 03:54 PM (11 years, 4 months ago) |
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Attack from all angles
Start a business or several (this cud double whammy as your laundering method if its a cash sales business) CDs or roths or whatever those are Invest in other companies Invest in metals Invest in buy to let property
The way I see it, until you have property you can let out to generate income you're not even on the playing board.
How much do you make from weed there out of interest? Where I am ounces are always £220 each and you have to sell 28 grams at £10 each to earn £60 - so basically you'd get a better wage delivering pizzas than selling weed here only growers make money but even they have massive overheads for renting the space and paying bills to do it.
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LEDenthusiast
Stranger
Registered: 09/19/12
Posts: 14
Last seen: 10 years, 3 months
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Re: A worthwhile investment? [Re: Anonymous]
#16874579 - 09/19/12 12:12 PM (11 years, 4 months ago) |
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Better learn how to launder, It's not as easy as it seems
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Anonymous
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Just setup a cash business and drip it in slowly
Its not that hard. Loads of ways of doing it.
Why bother though, just spend it or buy gold or something and cash it in when needed. Only useful for buying property and shit really if you have no legit funds.
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