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Re: the best way to not spend $5k [Re: habitat0789]
    #6333991 -

Crime pays.


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“Animals are something invented by plants to move seeds around. An extremely yang solution to a peculiar problem which they faced.”

Terence McKenna

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Re: the best way to not spend $5k [Re: Yoschie99]
    #6334590 -

Cd's are guaranteed but you will incur penalties if you take the money out early. IRA's are tax-free but you'll get penalties if you take it out before you reach a certain age.

I'd probably go with a mutual fund. I have a lot of my money with Vanguard.

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Re: the best way to not spend $5k [Re: Yoschie99]
    #6334674 -

Money market account + Roth IRA.  Mutual funds aren't a bad idea either, but do your research.  You can let them set it up for you or pick the stocks/bonds yourself, or you can tell them to weight your investment in mostly stocks with a few bonds or vice-versa.  Know exactly what your money is doing at all times :ninja:


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Hey, baby...wanna kill all humans?

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Re: the best way to not spend $5k [Re: RandalFlagg]
    #6334675 -

all replies suggesting illegal activities can be saved.. :smile:  those markets are old news.

randall: how much do you earn w/ vanguard?  is it a set amount per year? or percentage? 

:smile:

yos-

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Re: the best way to not spend $5k [Re: Yoschie99]
    #6335160 -

Yoschie99 said:
I know i have seen some posts here about investing in the past...  so, does anybody have any good recommendations?

:smile:

yos-


Cheap drugs that you can turn a profit on. :wink:No, please don't do that. For realz! :tongue:


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:murray:

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Re: the best way to not spend $5k [Re: Yoschie99]
    #6335168 -

It's good to see you around, again. I hope you stick around. I like the way you are thinking, now. You always seemed to have a knack for buisness ideas and alot of motivation. Used in the right direction, you could really make yourself a nice life. I wanna see you do it.

:laugh:


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:murray:

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Re: the best way to not spend $5k [Re: blissedout]
    #6335813 -

blissedout said:
It's good to see you around, again. I hope you stick around. I like the way you are thinking, now. You always seemed to have a knack for buisness ideas and alot of motivation. Used in the right direction, you could really make yourself a nice life. I wanna see you do it.

:laugh:


Thank you. :smile:

i had a friend tell me last year, 'yos.. you're fucking criminally minded... you're too smart.'
my reply, "i'm not criminally minded.. i'm business minded.. i just choose crime to be my business.'


I'm really not thinking any differently than before.. i'm just doing better at resisting the easier way out.  My end goal has always been to get at least $10k or so invested and put away w/in the next couple of years... this will just make that goal much more attainable. 

What exactly I will do w/ the money once it's all in place, i'm still not sure.  All i know is that for now i want my money doing some work for me.. since i can't do work w/ my money. :wink:

yos-

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Re: the best way to not spend $5k [Re: Yoschie99]
    #6336606 -

invest in stones, the precious kind. ores as well. Specifially ores and stones that are used industrially. They aint making any more of them. They are depleting resource. Anywayz that is mine own two cents worth.

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Re: the best way to not spend $5k [Re: mack_tasticlies]
    #6336894 -

I highly advise the stock market. I strongly recommend Beating the Street(a book) by Peter Lynch, as a general guide to stocks and recognizing good buys. When you have read that contact a *good* broker (hard to find, better talk to some friends) and get started.

Screw bonds, money markets, and CD's. Peter Lynch will tell you why in his book. He has millions of dollars, not many people can say that.

ALL STOCKS. (period) Percentage increases for Lynch while he was in charge of the Magellan Fund were over 30%. This fact alone should turn you forever away from bonds and other stupid shit. IMO precious metals suck, they are only as valuable as we think they are, copper being the exception and there was a big winner there recently - Phelps Dodge- which was mentioned in - you guessed it- Lynch's book, which he wrote in 1993-4.


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Edited by moho456 (12/05/06 02:59 PM)

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Re: the best way to not spend $5k [Re: moho456]
    #6336988 -

Gold has increased in value dramatically over the past six years while the American dollar has fallen in value.

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Re: the best way to not spend $5k [Re: Yoschie99]
    #6337828 -

I've been going through an active process of learning through experience in the stock market, over a period of about 18 months now. Overall, I haven't beaten the standard market averages such as the S&P, but I attribute this largely to a few select mistakes I made during my first six months when I really didn't know what I was doing. Even now however, playing the market requires me to spend a solid hour at minimum, each day keeping up on my positions, sector trends, and the trend in the overall economy. If you don't have a lot of spare time, or the drive to read lots of press releases, stay on top of quarterly reports and the broader macro-economic commentary put fourth in any number of news publications.. don't put your money in stocks.

Also to note, while the market has been quite rosey over the last few months, this is probably not the best time to enter since the majority of big gains have been had already. Natural volatility seems to indicate that we are in for at least a minor correction in the not so distant future, and a potentially significant one if the large string of interest rate hikes by the US Federal Reserve over the last few years results in what is being called a "hard landing" for the economy, in which productivity contracts and our dollar will continue to lose value; thereby reducing corporate profitability, and in turn, the valuations on the stocks of these corporations. On that note, we probably won't see a worst case scenario, but the fact remains that the market has been on a tear since the summertime and the majority opinion is that we are overbought in the short term. This does however make for a good time to observe and learn, and use a correction as a potential buying opportunity.

Savings accounts are looking quite attractive these days, returning 5%+, with the ability to put in or pull out your money at any time. While 5% isn't anything amazing, it is a safe, conservative, and stable way to allow your money to appreciate with no real work involved. Check out www.hsbcdirect.com if you are interested in a liquid, FDIC insured savings account that is yielding 5.05% apy with practically no minimum investment required ($1 minimum balance).


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┼ ··∙   long live the shroomery  ∙·· ┼
...╬π╥ ╥π╬...

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Re: the best way to not spend $5k [Re: geokills]
    #6339783 -

^^ both good information..

I think I will avoid stocks for a couple of the reasons that geokills mentioned.  I don't think it's the best time for me personally to jump into the market, since i do not have a lot of time to devote to learning and doing it right.. and, from what I just see in the news regarding the market, it doesn't seem like the best time to get in... after a huge peak has to come a decline of some sort. 

I owned stocks when I was younger, but they were meant to be long term investments that I didn't really do anything with... shares in Johnson&Johnson and AmHome Products.  Unfortunately, the first time I needed an expensive lawyer..  the stocks had to be cashed in. 

--

When you say invest in precious metals/ores.. do you mean futures?  if so.. i know from personal experience that investing in futures is not the way i want to go right now.. to do futures properly, you really have to put in a decent amount of work. 

--

Today is my one day off, so after doing the few necessities like laundry and holiday shopping I'm going to start to shop around the net for an investment house that can give me some professional help..

but, any personal input is still greatly appreciated.

:smile:

yos-

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Re: the best way to not spend $5k [Re: Yoschie99]
    #6339830 -

I have $500 in a 401(k)/profit sharing plan, can I cash in right now or what? :grin:


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:redpanda:
If I should die this very moment
I wouldn't fear
For I've never known completeness
Like being here
Wrapped in the warmth of you
Loving every breath of you
:heartpump: :bunnyhug: :yinyang:

:yinyang: :levitate: :earth: :levitate: :yinyang:

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Re: the best way to not spend $5k [Re: Yoschie99]
    #6339968 -

you can double your money in a few months if you know how to trade currencies.

buying and selling money... how crazy is that?

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Re: the best way to not spend $5k [Re: Middleman]
    #6339974 -

I hear theres lots of money in the cocaine buisness , /me cough's


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∞
I am incapable of conceiving infinity, and yet I do not accept finity.
- Simone de Beauvoir -

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Re: the best way to not spend $5k [Re: Yoschie99]
    #6340658 -

Be VERY careful with investment houses. Most of them have "front-load" and "back-load" fees. Translated into English this means they take a cut when you give them your money or when you cash out. Investment companies like American (very good company by the way) let you pick when and how you get your money taken away. Read the fine print, ask pointed questions, and watch those motherfuckers like a hawk.

Vanguard charges no front and back load fees. That's why I went with them.

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Re: the best way to not spend $5k [Re: snoot]
    #6340663 -

build a cabinet to grow weed in. for less than $1000, you could build 2 and a vegging cabinet. After 3 months, you have enough weed to have paid for the cabinets.


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Uncleluke, getting his assbeat, then he tries to delete it
http://www.shroomery.org/forums/showflat.php/Number/6355469#Post6355469
Tomato-Faced Banez
http://www.shroomery.org/forums/showflat.php/Number/5933438#Post5933438
Dexter's Thesaurus
beer = guinness
smoke = vaporize
pubers = reasons to be pro-choice

Edited by ShroomDr (12/07/06 03:26 PM)

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Re: the best way to not spend $5k [Re: RandalFlagg]
    #6343623 -

i was wondering about what sort of fees to expect..

I never had the time to call around yesterday, so i'm going to get on it now.

thanks for the info so far. 

:smile:

yos-

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Re: the best way to not spend $5k [Re: Yoschie99]
    #6344071 -

through the little bit of reading i have done over the past couple of days.. i have pretty well ruled out stocks and IRAs for now..

but, opened up a whole new world of mutual funds, index funds, bonds, government bills, i bonds, and CDs to choose from..

it's looking like a CD and maybe some mutual funds.. i'm just going to have to wait for some more information to come and do some more research myself.

yos-

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Re: the best way to not spend $5k [Re: Yoschie99]
    #6344945 -

added a picture to my first post


--------------------
Uncleluke, getting his assbeat, then he tries to delete it
http://www.shroomery.org/forums/showflat.php/Number/6355469#Post6355469
Tomato-Faced Banez
http://www.shroomery.org/forums/showflat.php/Number/5933438#Post5933438
Dexter's Thesaurus
beer = guinness
smoke = vaporize
pubers = reasons to be pro-choice

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