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OfflinePDU
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Re: I had en epiphany about money today [Re: blackdust]
    #19228061 - 12/04/13 06:20 PM (10 years, 2 months ago)

Fantastic - good for you blackdust!

I've got a bunch of questions, although if I am being a bother, don't feel obliged to respond.

So how did you afford the trailer?
How much did it cost?
Do you have payments, and if so, how do you pay those?
Have you run into any issues with maintanence or other unexpected issues?
How about property tax?

A mobile home may very well be the option i take, I have an acquaintance who did quite well buying one when he was young and had an unexpected child rushed into his life. Your pad rental is very cheap... Although I am not sure of the cost of a rental in the area i'll be moving to, so I will certainly look into it.

I am very pleased with the responses so far - keep em coming!


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Invisiblelighthouse09
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Re: I had en epiphany about money today [Re: PDU]
    #19228096 - 12/04/13 06:30 PM (10 years, 2 months ago)

my uncle invested like 30,00 in stocks since he was a broker and it turned into like 85,000  finanally one day too bad he died like 6 mionths before that never got to see it ... 
live life while u can money isn't what matters.
[flash=425,344]http://
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<--This fuckin guy


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Invisibleblackdust
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Re: I had en epiphany about money today [Re: PDU]
    #19228210 - 12/04/13 06:53 PM (10 years, 2 months ago)

Quote:

PDU said:
Fantastic - good for you blackdust!

I've got a bunch of questions, although if I am being a bother, don't feel obliged to respond.

So how did you afford the trailer?
How much did it cost?
Do you have payments, and if so, how do you pay those?
Have you run into any issues with maintanence or other unexpected issues?
How about property tax?

A mobile home may very well be the option i take, I have an acquaintance who did quite well buying one when he was young and had an unexpected child rushed into his life. Your pad rental is very cheap... Although I am not sure of the cost of a rental in the area i'll be moving to, so I will certainly look into it.

I am very pleased with the responses so far - keep em coming!




I took my income tax for a 20% down payment and got a loan for the rest. Some banks have home loans for mobile homes.The house was 10,000. Just make the house payment as same as any loan from a bank. For a loan you will need 2 years of a consistent job or a co-signer with good credit. One thing I would do next time is make sure the furnace works and hot water tank. Those were massive fixes I had to do. But I figure I live here for 10 years I will have saved lots of cash. property tax is under a couple hundred a year/


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OfflinePDU
travel kid vs.amerika
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Re: I had en epiphany about money today [Re: blackdust]
    #19228345 - 12/04/13 07:25 PM (10 years, 2 months ago)

Ridiculously cheap!

I will be looking at closer to $85-100k for a mobile!


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Invisibleblackdust
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Re: I had en epiphany about money today [Re: PDU]
    #19228454 - 12/04/13 07:48 PM (10 years, 2 months ago)

Quote:

PDU said:
Ridiculously cheap!

I will be looking at closer to $85-100k for a mobile!




Dude, I could buy a 1,800 sq ft house for that much cash.


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OfflinePDU
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Re: I had en epiphany about money today [Re: blackdust]
    #19228602 - 12/04/13 08:13 PM (10 years, 2 months ago)

Welcome to Beautiful British Columbia.

FYI - that's the cheap, bum fuck northern town.

Average house price in BC is around $450,000 and in Vancouver where i live it is $922,600.

It's all relative i guess. Up north i could get a 3 bedroom house for less than $150,000k, although it would be a fixer upper.


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Invisibleblackdust
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Re: I had en epiphany about money today [Re: PDU]
    #19230118 - 12/05/13 06:14 AM (10 years, 2 months ago)

Quote:

PDU said:
Welcome to Beautiful British Columbia.

FYI - that's the cheap, bum fuck northern town.

Average house price in BC is around $450,000 and in Vancouver where i live it is $922,600.

It's all relative i guess. Up north i could get a 3 bedroom house for less than $150,000k, although it would be a fixer upper.




Yeah, ,my prices are for the suburbs of Columbus, Ohio


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Invisibleblackdust
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Re: I had en epiphany about money today [Re: PDU]
    #19230364 - 12/05/13 08:47 AM (10 years, 2 months ago)

Quote:

PDU said:
Ridiculously cheap!

I will be looking at closer to $85-100k for a mobile!




You can transport mobile homes. Maybe able to look at buying one further south and paying for the transport and hookup for a lot in a park where every you want it.


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OfflinePDU
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Re: I had en epiphany about money today [Re: blackdust]
    #19233101 - 12/05/13 06:10 PM (10 years, 2 months ago)

Something to think about actually, good idea. I'll look into it.


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Offlineiateshaggy
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Re: I had en epiphany about money today [Re: PDU]
    #19233165 - 12/05/13 06:24 PM (10 years, 2 months ago)

sorry i missed your point, i didn't realize you considered 25 years to be quick.  yes, you can retire in 25.  that is a good starting place but 100/month is not enough.  to put it into perspective, i put 800 a month minimum away.  the key is getting into a good career.  once your investment interest income outweighs your jobs income, you can retire.  typically 15% of your salary for 25+ years can achieve that.


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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.


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InvisiblePsilliCoder
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Registered: 12/10/09
Posts: 764
Re: I had en epiphany about money today [Re: blackdust]
    #19233237 - 12/05/13 06:37 PM (10 years, 2 months ago)

Quote:

blackdust said:
Quote:

PDU said:
Ridiculously cheap!

I will be looking at closer to $85-100k for a mobile!




You can transport mobile homes. Maybe able to look at buying one further south and paying for the transport and hookup for a lot in a park where every you want it.




Why a park? I'm buying a mobile home now in NC. It will be paid off in a couple years. Comes with a little over an acre,fenced in, and has a work building. It's private. I do have neighbors but it is by no means a park. It has  some things that needed to be fixed. Once it's paid off, im going to be completely rent free. Can't wait til it's paid off. I'm in my mid 20s, so i have time to save up and then buy/build another house and rent this one out.


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Invisibleblackdust
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Re: I had en epiphany about money today [Re: PsilliCoder]
    #19234407 - 12/05/13 10:56 PM (10 years, 2 months ago)

Quote:

PsilliCoder said:
Quote:

blackdust said:
Quote:

PDU said:
Ridiculously cheap!

I will be looking at closer to $85-100k for a mobile!




You can transport mobile homes. Maybe able to look at buying one further south and paying for the transport and hookup for a lot in a park where every you want it.




Why a park? I'm buying a mobile home now in NC. It will be paid off in a couple years. Comes with a little over an acre,fenced in, and has a work building. It's private. I do have neighbors but it is by no means a park. It has  some things that needed to be fixed. Once it's paid off, im going to be completely rent free. Can't wait til it's paid off. I'm in my mid 20s, so i have time to save up and then buy/build another house and rent this one out.





Where I live all trailers have to be in a park. plus the cost to buy land, have utilities installed, and move this trailer out ways the benefits for me otherwise having a deed is better than a title.


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Invisibleblackdust
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Re: I had en epiphany about money today [Re: underfliptown]
    #19235310 - 12/06/13 06:28 AM (10 years, 2 months ago)

Quote:

underfliptown said:
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...




Has anyone starting learning yet? I got a copy of investing online for dummies and this book seems amazing!


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Offlinech1ck3n.s0up
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Re: I had en epiphany about money today [Re: blackdust]
    #19246957 - 12/08/13 08:08 PM (10 years, 2 months ago)

A good place to start would be with some trade simulation software that allows you to "back-test" your positions. Then you can try out different ideas, without putting any real money at risk.

From there, move on to "penny stocks," where there's some real ca$h in the game. See how you do, without the risk of incurring huge losses.

Once you've got a handle on how the markets work, then move on to stocks, bonds, derivatives, etc.

Basically what you're talking about is day-trading... and it's not easy. It is very stressful. you must have the right personality for it.

- You'll have to invest in trading software that executes trades quickly.
- You'll need news services (like Bloomberg). Without cutting-edge information, opportunity will be lost.
- You'll need a decent amount of cash to get started
- You'll need a solid USD$100,000 to really make any decent money. The less money you have, the more risk you have to take to hit it big... and the more losses you'll incur.

If you're going to trade for a living, getting your SS7 and becoming a professional will net you decent coin with much less risk.


--------------------

"Inspiration ~ Move me brightly ~ light the song with sense and color ~ hold away despair ~ more than this I will not ask ~ faced with mysteries dark and vast ~ statements just seem vain at last" --Jerry Garcia, Terrapin Station

"Officer, I'm going to remain silent, and I would like to speak with a lawyer. I'm not resisting, but I don't consent to any searches.


Edited by ch1ck3n.s0up (12/08/13 08:09 PM)


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Offlinei like cow poo
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Re: I had en epiphany about money today [Re: PDU]
    #19247069 - 12/08/13 08:32 PM (10 years, 2 months ago)

A roth IRA seems like a safe way to make some cash.


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Invisibleblackdust
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Re: I had en epiphany about money today [Re: ch1ck3n.s0up]
    #19249021 - 12/09/13 07:27 AM (10 years, 2 months ago)

Quote:

ch1ck3n.s0up said:
A good place to start would be with some trade simulation software that allows you to "back-test" your positions. Then you can try out different ideas, without putting any real money at risk.







Do you have any recommendations? The book I am reading list a couple of them.

Also,I found a couple forums that talk a lot about money and investing.

http://www.hotstockmarket.com/f/3035/investing-forum

http://www.bogleheads.org/forum/index.php

---
Also, I found that starting a twitter account and following a lot of good investing firms/newspapers was a great idea to start learning.


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Invisibleblackdust
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Re: I had en epiphany about money today [Re: i like cow poo]
    #19249024 - 12/09/13 07:29 AM (10 years, 2 months ago)

Quote:

i like cow poo said:
A roth IRA seems like a safe way to make some cash.




I have been looking at this as a retirement option.


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Offlineunderfliptown
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Re: I had en epiphany about money today [Re: blackdust]
    #19249071 - 12/09/13 07:55 AM (10 years, 2 months ago)

i use investopedia.com


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OfflinegeokillsA
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Re: I had en epiphany about money today [Re: i like cow poo]
    #19254764 - 12/10/13 10:50 AM (10 years, 2 months ago)

I have been an active stock, option & peer-to-peer loan investor for eight years now (and a passive investor/observer for quite a bit longer than that), and while I agree that stocks are one of the most lucrative opportunities to increase your net worth, it is NOT without risk and I just wanted to chime in to offer my perspective on a few things...

Quote:

ch1ck3n.s0up said:
A good place to start would be with some trade simulation software that allows you to "back-test" your positions. Then you can try out different ideas, without putting any real money at risk.



I agree that paper trading will be a huge benefit to beginners attempting to manage their own money in the market.  And when you are ready to start trading real money, don't just go piling in.  Dole it out slowly.  Your emotions will have a greater affect on your trading discipline when the gains and losses on your screen are real gains and losses in your wallet.  Further, the market is dynamic, so if you start out in a strong period for the aggregate market, it will likely make you feel like a genius since practically everything will be making you money.  While you should capitalize on this while you can, you should also be mindful that it is not always going to be this way, and thus don't let yourself get cocky by taking on ever-increasing amounts of risk, because in my own experience, that type of behavior tends to end very poorly!  And even though I know this, I still find myself falling into the same bad habit from time to time.  So please remember: discipline trumps conviction.*


Quote:

From there, move on to "penny stocks," where there's some real ca$h in the game. See how you do, without the risk of incurring huge losses.



I cannot disagree more.  Penny stocks are the most volatile, unpredictable pieces of lottery out there.  They do not adhere to generally accepted accounting principles, some of them don't even report their earnings, most are not profitable and there is almost no liquidity.  This last concern ties in directly to the original poster's concern "One thing i didn't realize is that you actually have to wait for someone to buy your stocks" -- if there is no liquidity, you won't be able to get the price you want for the stock you want to buy or sell, because the spread between the bid and the offer will be wide, or there simply won't be enough shares available to complete the transaction at the specified price, leading to added and often painful volatility when you execute your trade.  While this volatility can potentially work in your favor, more often than not it will not.  Most importantly, the "lessons" you learn trading penny stocks are not necessarily the same rules you will want to apply when trading stocks with normal liquidity because they trade differently.


Quote:

- You'll have to invest in trading software that executes trades quickly.



Most online brokerages execute trades very quickly and cheaply.  I use TDAmeritrade which includes a robust java client called Think or Swim, here's an example of what my trading desk looks like, and this software is included with your account at TDA with no additional charge.  Trade commissions are also in line with generally standard rates for reliable online brokerages and if you have a large enough account and pester them, they will even lower your commissions below their advertised rates.

    Monitor Setup:

                           

    Screenshot from this morning, the top center screen is my "dashboard"
    that tells me at a glance the general health and direction of the market
    at any given moment:

         


Quote:

- You'll need news services (like Bloomberg). Without cutting-edge information, opportunity will be lost.
- You'll need a decent amount of cash to get started
- You'll need a solid USD$100,000 to really make any decent money. The less money you have, the more risk you have to take to hit it big... and the more losses you'll incur.



While more trading capital certainly makes it much easier to make a living wage, I would not discourage people from investing with smaller amounts.  News is important, but I have found through my near-decade of trading that the most important piece to successful trading is understanding price action, and to do that, all you really need is the chart.  The price speaks for itself... no matter what a company may be doing, that information is already being factored into the stock price in real time; this is, after all, the purpose of the market: to be a forward pricing mechanism that incorporates all available information into the formulation of an appropriate valuation.  There are some company specific metrics that are important to keep an eye on, such as profitability, growth, and the related price to earnings ratio of the underlying stock.  But ultimately, you make money on what the stock price does, not what the company does, so get comfortable reviewing charts.  If you're in this business, it will serve you better than anything else.


Quote:

i like cow poo said:
A roth IRA seems like a safe way to make some cash.



A Roth IRA (or any special tax-adjusted account) is simply a vehicle to allow you to incur a lower tax rate on your investment profits. It is not a "safe" way to make some cash, because your Roth IRA account can still go to zero if you invest it all into companies that are going bankrupt, or may not change at all if you don't actively invest the money that you have in it.  The only advantage is a tax advantage, everything else about how you actively manage your money will be the same as if it were in regular old investment account.


*So please remember: discipline trumps conviction.  What does this mean?  In part, it means not falling into the trap of "this company has such great prospects, the market is stupid to be selling is off, I know I'll eventually be proven right and everyone selling is an idiot, so I'll just hold on for a little while longer (or maybe I'll buy even more!) and wait until it turns around."  Or the dreaded "damn I have really lost some serious money on this stock, so I'll just hold on until I get back to even and sell it."  Discipline is all about planning your trade and trading your plan.  Set your stop loss levels before you get into the trade, and ADHERE to them.  So what if you lose a little money on the trade?  Better to lose a little than to lose a lot, not to mention the psychological benefit of getting that loser off your screen so you can focus on the next, better trade.  Your first loss is your best loss.


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Edited by geokills (12/10/13 02:01 PM)


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Offlinei like cow poo
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Re: I had en epiphany about money today [Re: geokills]
    #19255137 - 12/10/13 12:18 PM (10 years, 2 months ago)

Goddamn thats an intense setup. Idk I wouldn't want to have to devote a portion of my life each day to stocks. Maybe mutual funds would be best for me?


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