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Offlineunderfliptown
I suck and you should kill me


Registered: 03/07/11
Posts: 14,344
Last seen: 8 years, 6 months
I had en epiphany about money today * 1
    #19217462 - 12/02/13 02:11 PM (10 years, 2 months ago)

Ok... so here I am bitching about how the "powers that be" are these evil reptilian bilderberg jews for the past 2 years. THEN just the other day I realized that there is nothing stopping me from getting in on the action.

The way to do this is stocks.

It seems like what separates the poor from the rich is the stock market. The rich ppl know that the way to get money is to invest in stocks and let them make money for you. This is what is killing the world, it's horrible. But I am not gonna sit back and work my ass off for some dickhead for the rest of my life when trustfund kids are living off of their portfolio profits doing nothing.

And furthermore you don't even have to be rich starting off. You can have a shitty job, and so long as you save a little bit of your money eventually it will compound and be worth much much more.

I still have a shitload to learn, but im reading investing online for dummies right now and it seems like a good place to start. There is so much shit to learn its intense. Especially doing it online and not with a broker.

One thing i didn't realize is that you actually have to wait for someone to buy your stocks. The whole stop price and that kinda thing was a complete eye opener. You set a price you wanna sell at and then you wait for someone to buy it. This kinda pisses me off cause I think it would be better to watch the market and then sell your stocks the second you know its gonna jump.

How long does it usually take to sell lets say 100 shares of a moderately popular stock?

I really think i hit the jackpot here, I can't believe this isn't mandatory in school...


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Invisibleblackdust
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Re: I had en epiphany about money today [Re: underfliptown]
    #19217478 - 12/02/13 02:15 PM (10 years, 2 months ago)

I know! I took a couple accounting classes this semester that taught me about how stocks work a little bit [at least from a accounting view] and I am going to start investing in stock with my new job I am about to get!

:billymaythumbup:


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Offlineunderfliptown
I suck and you should kill me


Registered: 03/07/11
Posts: 14,344
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Re: I had en epiphany about money today [Re: blackdust]
    #19217510 - 12/02/13 02:19 PM (10 years, 2 months ago)

It's incredible!

The best part is that I am already broke as fuck, so it can't get any worse. I just gotta get a job and start saving right away!


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OfflinePDU
travel kid vs.amerika
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Re: I had en epiphany about money today [Re: underfliptown]
    #19217871 - 12/02/13 03:46 PM (10 years, 2 months ago)

Good for you.

I also don't know much, but have financially savvy parents who have steered me towards being smart with my money. As a child I was ingrained with saving 10% of whatever money i came across anom the rich is the stock market. The rich ppl know that the way to get money is to invest in stocks and let them make money for you. This is what is killing the world, it's horrible. But I am not gonna sit back and work my ass off for some dickhead for the rest of my life when trustfund kids are living off of their portfolio profits doing nothing.
d learned how to comparison shop by figuring out the price per piece of lego and buying the better value. It's done me well - I live very well off next to nothing these days.

That said - during my rebellious years, I forgot about all this, but a couple years ago came to the same epiphany as you. It is very empowering.

My grandparents were self made millionaires through mutual fund investing in the early/mid 80's and retired at 50 - I actually don't know too much about their success (they are dead now) but I should ask my mom about it.

My first foray into investing was buying $5000 in silver when it was low this summer. So far, it's dipped a little lower than when i purchased it, so it's bitter sweet. I do understand that with patience I will produce a decent profit .. although the waiting game isn't that fun. I would prefer to cash out when i can, and invest it in stocks, like you say...

about 1 month ago I put $1300 into a super low fee mutual fund that tracks several indexes (very diversified) and it is doing very well. Currently, it is at $1363.81 ... a whopping $63.81 gain in 1 month.

It is considered long term and high risk ... so i guess we'll see how it goes.

All I know is that I just want to save and invest money I come into now, rather than say ... buy a new car, or save up for a house.

(I read a book about warren buffet, and he nearly refused to buy a house, because the stock market had better returns than real estate!)

Realistically, i need a new car - nothing fancy, so striking a balance is important.

Rule #1 is: PAY YOURSELF FIRST.


--------------------
GO OUTSIDE.


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Offlineiateshaggy
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Re: I had en epiphany about money today [Re: PDU]
    #19219103 - 12/02/13 07:52 PM (10 years, 2 months ago)

poor people invest in stocks all the time, its called a 401k.  you either need a lot of money, a lot of time, or a huge interest rate.  the last one doesn't exist. for you, the first one doesn't exist, so its gonna take you a lot of time.


--------------------
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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OfflineGorlax
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Re: I had en epiphany about money today [Re: iateshaggy]
    #19222859 - 12/03/13 03:41 PM (10 years, 2 months ago)

Making money isn't hard, it's getting to the point that will enable you to make money that's the bitch..

Example: If I had 1 million dollars right now, I guarantee you I could invest that into multiple things and turn it around into much more. You could probably even argue if I had 10K to invest I could turn it around.

Reality: I have little money, and can't invest in shit.

People who play with the stock market are all not rich, and I'm sure plenty of rich people don't invest in stocks.

The major trend I see is that you need to get over the activation energy (lol) then its gravy from there.

That's why a college degree in a highly specialized field (which forces companies to pay high salary) is a great investment.

...........

fuck i wish I had money already..

....
..
.
.
..


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OfflinePDU
travel kid vs.amerika
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Re: I had en epiphany about money today [Re: Gorlax]
    #19222998 - 12/03/13 04:17 PM (10 years, 2 months ago)

I would agree that if you can have $10,000 invested wisely, it should multiply relatively quickly if you reinvest the profits, and continue to invest even a modest amount on a biweekly or monthly basis.

My goal is to have $10,000 invested by the time im 30.

2 years.

Considering i started investing last year, and work a part time job for next to nothing, it seems like a good goal.

(however, i feel bad about myself when my dentist is my age ... and is obviously in a much better financial situation than me.)

Gotta keep it in perspective though. The money I have invested currently is FAR more than almost everyone i know who i know. They drive nice cars, though.


--------------------
GO OUTSIDE.


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OfflineGorlax
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Re: I had en epiphany about money today [Re: PDU]
    #19223393 - 12/03/13 06:07 PM (10 years, 2 months ago)

Yeah, It sucks seeing things like that but it isn't too late nor does money signifying anything. I saw some girl at my old work do the 5$ thing. Everyday you put 5$ in a jar, basically a piggy bank.. She had a lot of money after.

10,000 in theory sounds easy to save up, but you got to have the job and initiative first.


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Offlineiateshaggy
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Re: I had en epiphany about money today [Re: Gorlax]
    #19223520 - 12/03/13 06:29 PM (10 years, 2 months ago)

10g in investment terms is nothing.  until it builds into the upper 6 figures to lower millions, you cant even retire with a lower middle class income.


--------------------
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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OfflineGorlax
Male


Registered: 05/06/08
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Re: I had en epiphany about money today [Re: iateshaggy]
    #19223664 - 12/03/13 07:01 PM (10 years, 2 months ago)

yeah, that's the point. nobody even has 10k let alone 100,000!!


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OfflinePDU
travel kid vs.amerika
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Re: I had en epiphany about money today [Re: iateshaggy]
    #19225625 - 12/04/13 08:01 AM (10 years, 2 months ago)

Quote:

iateshaggy said:
10g in investment terms is nothing.  until it builds into the upper 6 figures to lower millions, you cant even retire with a lower middle class income.




I am not talking about retiring.

If you had 10,000 and produced 8% return annually, and reinvested in the same fund, and invested $100 monthly It would grow quickly say... over 25 years.

10,000 + 1200 x.08
12,096 + 1200 x.08
14,359.68 + 1200 x.08
15,604.45 + 1200 x.08
16,948.81 + 1200 x.08

and on and on.

25,000 + 1200 x.08
27,096 + 1200 x.08
30,559.68 + 1200 x.08

and on and on....

As you can see, once you build up the critical mass, it starts multiplying really quick.

Gotta get there somehow - doesn't do you any good just to throw your hands up and say "there's no point, you need money to make money, i'll never get there."


--------------------
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Offlineunderfliptown
I suck and you should kill me


Registered: 03/07/11
Posts: 14,344
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Re: I had en epiphany about money today [Re: PDU]
    #19225658 - 12/04/13 08:10 AM (10 years, 2 months ago)

I totally agree!!!

It only takes a little money to start compounding!


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Invisiblebadchad
Mad Scientist

Registered: 03/02/05
Posts: 13,373
Re: I had en epiphany about money today [Re: PDU]
    #19225677 - 12/04/13 08:18 AM (10 years, 2 months ago)

Quote:

PDU said:
I am not talking about retiring.

If you had 10,000 and produced 8% return annually, and reinvested in the same fund, and invested $100 monthly It would grow quickly say... over 25 years."




I googled a compound interest calculator and came up with $156,211.

If that's correct, it should provide the youngins here some perspective.  You could work 25 years doing that, and in the end you'd generate a retirement of 50k/year for three years.


--------------------
...the whole experience is (and is as) a profound piece of knowledge.  It is an indellible experience; it is forever known.  I have known myself in a way I doubt I would have ever occurred except as it did.

Smith, P.  Bull. Menninger Clinic (1959) 23:20-27; p. 27.

...most subjects find the experience valuable, some find it frightening, and many say that is it uniquely lovely.

Osmond, H.  Annals, NY Acad Science (1957) 66:418-434; p.436


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Offlineunderfliptown
I suck and you should kill me


Registered: 03/07/11
Posts: 14,344
Last seen: 8 years, 6 months
Re: I had en epiphany about money today [Re: badchad] * 1
    #19225687 - 12/04/13 08:22 AM (10 years, 2 months ago)

The idea though isn't to do nothing while you wait for your money to appreciate. You keep working and keep investing AS MUCH AS YOU CAN!!!

Then after that you see the profits get good. It's really quite simple at the bare bones, but the execution is fucked.


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Offlinepsyconaught
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Registered: 11/04/10
Posts: 6,100
Last seen: 7 years, 3 months
Re: I had en epiphany about money today [Re: underfliptown]
    #19226587 - 12/04/13 12:56 PM (10 years, 2 months ago)

compound interest is beautiful isn't it?


--------------------
Think for yourself, question authority


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OfflinePDU
travel kid vs.amerika
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Re: I had en epiphany about money today [Re: badchad]
    #19226958 - 12/04/13 02:25 PM (10 years, 2 months ago)

Quote:

badchad said:
Quote:

PDU said:
I am not talking about retiring.

If you had 10,000 and produced 8% return annually, and reinvested in the same fund, and invested $100 monthly It would grow quickly say... over 25 years."




I googled a compound interest calculator and came up with $156,211.

If that's correct, it should provide the youngins here some perspective.  You could work 25 years doing that, and in the end you'd generate a retirement of 50k/year for three years.




If you spend your money, you'll have nothing but a collection of material things which severely depreciate in value.

It's a crap shoot either way.

Fair enough, $10k isn't much to start with. However, it should be understood that one would be accumulating other wealth at the same time and should own a home and be established in other ways by the time they retire. You would be living high on the hog as an empty nester, who owns their own home, on 50k a year. Also factor in government pension and RRSP ontop of that.

Realistically, for anyone established in a career, it should be easy to direct more than $100/month to investments. Obviously my example is for someone who is not established and doesn't make much money. ALSO - it would be possible to invest considerably more, if you start the saving habit young. If you start saving at 25 and saved until retirement at 65 (67 now in Canada) thats 40 or 42 years!

So, starting at 25 with $10,000 and contributing $1200/year for 40 years = $552,982.46

Obviously the key is to getting the ball rolling, and staying consistent with your investing. If you were to make $50,000k/ year and invested as above while maxing out both an RRSP and a TFSA (tax deferred investment instrument in canada) you would lower your tax rate considerably and have a bunch of money to cash out when your income bracket is lower in retirement, again saving taxes.

We should all be able to do this if we keep our levels of debt in cheque and live frugally.

Its madness all these people living off debt, with no savings, especially those who are middle aged or older.

It should be noted that getting an 8% return over 40 years is possibly... improbable, or ... uncertain at best. It seems to me that there is going to major crises of people that suffer through retirement because they didn't plan ahead.

Me? - I'll likely be a snowbird, where my money will go all the further.


--------------------
GO OUTSIDE.


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Offlineqman
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Re: I had en epiphany about money today [Re: Gorlax]
    #19227013 - 12/04/13 02:38 PM (10 years, 2 months ago)

Quote:

Gorlax said:
Making money isn't hard, it's getting to the point that will enable you to make money that's the bitch..

Example: If I had 1 million dollars right now, I guarantee you I could invest that into multiple things and turn it around into much more. You could probably even argue if I had 10K to invest I could turn it around.

Reality: I have little money, and can't invest in shit.

People who play with the stock market are all not rich, and I'm sure plenty of rich people don't invest in stocks.

The major trend I see is that you need to get over the activation energy (lol) then its gravy from there.

That's why a college degree in a highly specialized field (which forces companies to pay high salary) is a great investment.

...........

fuck i wish I had money already..

....
..
.
.
..




"I guarantee you I could invest that into multiple things and turn it around into much more"

There are no guarantees when it comes to investing, it's always a challenge, many "experts" lose money.


Edited by qman (12/04/13 02:40 PM)


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Invisibleblackdust
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Registered: 02/28/09
Posts: 8,327
Re: I had en epiphany about money today [Re: PDU]
    #19227031 - 12/04/13 02:41 PM (10 years, 2 months ago)

Quote:

PDU said:
Quote:

badchad said:
Quote:

PDU said:
I am not talking about retiring.

If you had 10,000 and produced 8% return annually, and reinvested in the same fund, and invested $100 monthly It would grow quickly say... over 25 years."




I googled a compound interest calculator and came up with $156,211.

If that's correct, it should provide the youngins here some perspective.  You could work 25 years doing that, and in the end you'd generate a retirement of 50k/year for three years.




If you spend your money, you'll have nothing but a collection of material things which severely depreciate in value.

It's a crap shoot either way.

Fair enough, $10k isn't much to start with. However, it should be understood that one would be accumulating other wealth at the same time and should own a home and be established in other ways by the time they retire. You would be living high on the hog as an empty nester, who owns their own home, on 50k a year. Also factor in government pension and RRSP ontop of that.

Realistically, for anyone established in a career, it should be easy to direct more than $100/month to investments. Obviously my example is for someone who is not established and doesn't make much money. ALSO - it would be possible to invest considerably more, if you start the saving habit young. If you start saving at 25 and saved until retirement at 65 (67 now in Canada) thats 40 or 42 years!

So, starting at 25 with $10,000 and contributing $1200/year for 40 years = $552,982.46

Obviously the key is to getting the ball rolling, and staying consistent with your investing. If you were to make $50,000k/ year and invested as above while maxing out both an RRSP and a TFSA (tax deferred investment instrument in canada) you would lower your tax rate considerably and have a bunch of money to cash out when your income bracket is lower in retirement, again saving taxes.

We should all be able to do this if we keep our levels of debt in cheque and live frugally.

Its madness all these people living off debt, with no savings, especially those who are middle aged or older.

It should be noted that getting an 8% return over 40 years is possibly... improbable, or ... uncertain at best. It seems to me that there is going to major crises of people that suffer through retirement because they didn't plan ahead.

Me? - I'll likely be a snowbird, where my money will go all the further.





I agree! I am in my very young 20's and am in about 6K of debt not including student loans b/c I have not made enough money for my expenses. This year though I am paying off my trailer and all my credit cards and have money in savings. All b/c I created a strategy that would allow me to have more money than my expenses. Obviously buying a trailer was a game changer for me. Spent 10k on the trailer and my lot fee is about 200. That cut my rent expense in more than half. I have also done other things to cut expenses. I plan on living in my trailer for about 5 years after I finish college which will allow me to save LOTS of cash.


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OfflinePDU
travel kid vs.amerika
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Re: I had en epiphany about money today [Re: blackdust]
    #19227096 - 12/04/13 02:54 PM (10 years, 2 months ago)

What kind of trailer? I am very interested to hear about your financial planning and experiences. I will be in university next year and am trying to figure out a way to be RENT free while i get my degree.

Trailer living, or a school bus or something appeals to me - less to the girlfriend though. Are you talking an RV, or a mobile home?


--------------------
GO OUTSIDE.


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Invisibleblackdust
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Registered: 02/28/09
Posts: 8,327
Re: I had en epiphany about money today [Re: PDU]
    #19227587 - 12/04/13 04:22 PM (10 years, 2 months ago)

Quote:

PDU said:
What kind of trailer? I am very interested to hear about your financial planning and experiences. I will be in university next year and am trying to figure out a way to be RENT free while i get my degree.

Trailer living, or a school bus or something appeals to me - less to the girlfriend though. Are you talking an RV, or a mobile home?




I have a family so its a mobile home. It's only 20 years old with real siding and real singles for a roof[a lot of trailers in this park do not have these]. My mobile home is actually bigger than my last apartment.

---
The basic idea is to minimize expenses and maximize income/sources of income without being extreme just smart


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