Let's talk about money - The Finance Thread

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  • ReticentlyReticently Joined: Posts: 4,097
    Sure wish my 401k had the option to invest in specific stocks.
  • Ken34Ken34 a.k.a Mashima Taichi Joined: Posts: 7,128 ✭✭✭✭✭ OG
    twigster wrote: »
    Thinking about buying shares of Alcoa. Not sure how much lower they can possibly go.

    I'm holding off for the moment, because I don't have all that much income to play with, but if it goes below 6.50, let alone 6.00, I'm pulling the trigger.

    i was looking into them as well, as they company is now, it isnt worth investing, could be the next FCX, but when they split the businesses, the defense and car frame business is amazing, might be worth take a shot here while its low before they split. but im in capital preservation mode right now, the markets can possibly go alot lower from the levels we are at now.
    "True Strength is something Money and Credit cards cannot buy"
  • twigstertwigster Joined: Posts: 585
    Ken34 wrote: »
    i was looking into them as well, as they company is now, it isnt worth investing, could be the next FCX, but when they split the businesses, the defense and car frame business is amazing, might be worth take a shot here while its low before they split. but im in capital preservation mode right now, the markets can possibly go alot lower from the levels we are at now.

    Yeah, now that I think about it, may be best to wait for 2015 audited statements.
  • StarhammerStarhammer The Laughing Man of SRK. Joined: Posts: 20,724 ✭✭✭✭✭ OG
    @Ken34 and @twigster Yeah, I'm hearing ya. I really don't want to wait much more either, but I also know that it can (And I think WILL) go lower. In fact, all of gas prices will probably dip a few more times in the next two or three months, so just stay READY to move. Like Ken said, I'm trying to protect cash right now too as I'm leaving more in the bank for the time being. After looking at things closely, I realize I can actually get away with putting away twice as much as I originally planned. Next month I'm gonna alter a few deals like my name is Darth Vader. Bet dat.

    -Starhammer-
    Always think it's strange when black dudes accuse other black dudes of not being hood enough. Like isn't that a good thing?

    AV by Rick Ross.
  • J-rideJ-ride OG Member Joined: Posts: 2,255 ✭✭✭✭✭ OG
    I hope this actually gets passed. The barrier between banks and securities firms should have never been removed.
    http://thehill.com/policy/finance/259881-glass-steagall-takes-center-stage-in-2016
    Woman was created for our destruction, and it is from her we inherit all of our miseries.

    Aramis from The Three Musketeers
  • WTF-AKUMA-HAXWTF-AKUMA-HAX BLACK-GOKU-HAX Joined: Posts: 18,005
    http://www.bloomberg.com/markets/commodities

    Gold up as far as ~63.00 so far
    Big day.

    https://www.hardassetsalliance.com/bullion-pricing

    Guess you might need an account to see more up to date rates. Anybody use this for their physical gold investments? Or maybe an alternate place with less premiums?
    1999 = "A Game with Parries isn't Street Fighter"
    2016 = "Releasing a Complete Game isn't Street Fighter"
    You wouldn't even understand if I told you.
    People will forget what you said.
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    But, people will never forget how you made them feel.

  • Ken34Ken34 a.k.a Mashima Taichi Joined: Posts: 7,128 ✭✭✭✭✭ OG
    i bought GDX to hedge my portfolio, anyhting gold related has surged since the year started thanks to a weakening US dollar and global markets all going into bear market territory.
    "True Strength is something Money and Credit cards cannot buy"
  • StarhammerStarhammer The Laughing Man of SRK. Joined: Posts: 20,724 ✭✭✭✭✭ OG
    does anyone in here think gas will bounce? If so, when? some friends of mine are betting it will actually hit double digits on the signs within the next two years. I'm hoping it'll go at least down to $1:30, but don't think it'll go lower. it was around 1:50 over here yesterday. I'm sure it'll bounce sooner or later, it's just a matter of when.

    -Starhammer-
    Always think it's strange when black dudes accuse other black dudes of not being hood enough. Like isn't that a good thing?

    AV by Rick Ross.
  • ReticentlyReticently Joined: Posts: 4,097
    Thing with oil is that even if the shale industry collapses or OPEC corrects its production, there's already such a glut of oil in storage that the price will remain depressed for months afterward.
  • Rhio2kRhio2k Senior Member Joined: Posts: 11,522 ✭✭✭✭✭ OG
    Its late as hell, and I shoulda done it back when shares were 18 a pop...but how well would I do if I dropped like 6k on Facebook? Is that a good longterm stock?
    Roger: Well, Anita's pregnant, and-
    Cruella: Well, what can I say? Accidents will happen.
    Roger: We're having puppies, too.
    Cruella: *Gasp* Puppies!? *Leer* My, you have been a busy boy!
  • Ken34Ken34 a.k.a Mashima Taichi Joined: Posts: 7,128 ✭✭✭✭✭ OG
    Rhio2k wrote: »
    Its late as hell, and I shoulda done it back when shares were 18 a pop...but how well would I do if I dropped like 6k on Facebook? Is that a good longterm stock?

    facebook is like the next google, it is definetly a good long term stock, that dude zuckerburg is smart, he is spending money on alot of things, expanding facebook beyond just social media. i would wait for a better entry point though, although 101 is not bad, in this current market i would looks for mid 90s or lower. its funny you brought it up cause i was looking to enter facebook as well, i trade facebook and have made money, but i want to go long now. im looking for entry point between 92-95 a share.
    Reticently wrote: »
    Thing with oil is that even if the shale industry collapses or OPEC corrects its production, there's already such a glut of oil in storage that the price will remain depressed for months afterward.

    opec just broke news they are keeping production at current levels indefinitely, while its good they are not going to increase beyond current levels, the current levels are too much as it is, so its bad news. while oil will stay depressed, gas prices will eventually rise.
    "True Strength is something Money and Credit cards cannot buy"
  • twigstertwigster Joined: Posts: 585
    Has anyone used bitgold? I set up an account, seems to work well.

    https://www.bitgold.com/

    Explanation here:
  • RichterRichter ~~~00~~~ Joined: Posts: 1,881
    Do you guys use any sort of software to help manage with personal finances? Sort of like an easy to use spreadsheet catered towards dummies like myself. I'm starting to take a much greater interest in managing my finances but, I was wondering if such a thing exists and if there is a poster that has any personal experience using such a program.
    coffee.gifapplaud.gifkarate.gifthumbsup.gifwtf.gifpray.gifsmokin.gifparty.gifcool2.gifchinasmile.gifnunchuck.gifsad.gifeek.pngmad.pngcybot.gif
  • Raz0rRaz0r Did you really just write that? Joined: Posts: 25,997 ✭✭✭✭✭ OG
    Mint app
    This is offensive.
  • RECESSIONTIMERECESSIONTIME Trumpologist Joined: Posts: 1,240
    Honestly gold seems like a good bet for the foreseeable future. Do you people have money to invest though?
  • aznspydermanaznspyderman Bye SRK. Joined: Posts: 739
    Anyone using Betterment?
    I just decided to throw a few thou at it and in a month tacked more interest than I did with 4x that amount in my savings account. About a 4% interest in a month's time with prospects of doubling investment in 5 years.
    Twitter/Instagram: NYMixah on both.
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  • StarhammerStarhammer The Laughing Man of SRK. Joined: Posts: 20,724 ✭✭✭✭✭ OG
    edited March 2016
    I'd like a link to that one @aznspyderman . Maybe I'll dump some surplus in it as well.

    http://www.nasdaq.com/article/jim-rogers-says-to-buy-the-us-dollar-with-a-recession-coming-cm588759

    I just ran into that while posting. Thought I'd stick it in here too.

    -Starhammer-
    Always think it's strange when black dudes accuse other black dudes of not being hood enough. Like isn't that a good thing?

    AV by Rick Ross.
  • aznspydermanaznspyderman Bye SRK. Joined: Posts: 739
    edited March 2016
    Starhammer wrote: »
    I'd like a link to that one @aznspyderman . Maybe I'll dump some surplus in it as well.

    http://www.nasdaq.com/article/jim-rogers-says-to-buy-the-us-dollar-with-a-recession-coming-cm588759

    I just ran into that while posting. Thought I'd stick it in here too.

    -Starhammer-

    www.betterment.com
    Some reviews:
    http://www.thesimpledollar.com/betterment-review/
    -- This is the one that turned me after hearing about it time and time again on various podcasts I listen to.
    http://cashcowcouple.com/service-reviews/betterment-review/
    -- This one got me to sign up and deposit $100 and see where it goes - Which in a month turned into $120, which isn't bad for such a tiny investment. In theory, if I invested $10k, I'd have made $2k in a month. That was December though, and with the holidays, the market typically goes up more than others. In January, I didn't gain NEARLY as much. Closer to about 4-5% on average for the month. Goes up and down.


    They give $500k in insurance in case the company folds - which is an important thing to note. If you're rolling and you decide to drop in more than that, you're at risk. They're a relatively young company.
    Fees: $3 a month UNLESS you deposit the minimum which is like $100 a month. Then it's .35% a month and goes down a tenth per tier. So if you have $1k, it's $3.50. Once you hit $10k, it's .25%, etc. Read below.
    Betterment charges a management fee of 0.15% to 0.35%, depending on your balance and auto-deposit, and is prorated across the entire year and is charged at the end of each calendar quarter (every three months).

    For accounts under $10,000 we provide 2 pricing options. For those who have automated deposits turned on for at least $100/month, the rate is just 0.35%. If you choose not to automate your savings, the fee is still a low flat rate of just $3/month. This is either/or and never combined. After your account reaches $10,000 there are no longer deposit requirements and we focus on reducing your fee down to just 0.25% per year, and then further to 0.15% when your account is over $100,000.

    In other words, for those clients with pricing 0.15% to 0.35%, every three months Betterment charges 0.0375% to 0.0875% based on your average balance for the period. If you withdraw all of your money before the end of the quarter you are charged a prorated fee only for the days your money was managed by Betterment.

    Betterment's single management fee covers everything you need including transactions, trades, transfers, rebalancing, advice, account administration, etc. Unlike other companies Betterment does not charge you transaction fees to buy and sell securities.

    @Starhammer

    EDIT:
    If you're cool...
    betterment.com/invite/johnscognamigliojr

    That will give you 6 months of free trading and give me an additional free month.
    Twitter/Instagram: NYMixah on both.
    PSN: m1x4h. Xrd: Venom | Tekken: Lars/Lee/Kazuya/Bruce | ST: Blanka/Guile/Dic/DJ/Claw
    @WTF-Akuma-Hax mentions me like he want my eggroll.
  • J-rideJ-ride OG Member Joined: Posts: 2,255 ✭✭✭✭✭ OG
    edited March 2016
    I might give betterment a shot, I have a CharlesSchaub account I have been using for options trading and general trading. I have been trying to level up as a trader so I don't have to do constant covered calls.
    Woman was created for our destruction, and it is from her we inherit all of our miseries.

    Aramis from The Three Musketeers
  • NinetiesArcadeNinetiesArcade Joined: Posts: 1,490
    Rictorxix wrote: »
    Do you guys use any sort of software to help manage with personal finances? Sort of like an easy to use spreadsheet catered towards dummies like myself. I'm starting to take a much greater interest in managing my finances but, I was wondering if such a thing exists and if there is a poster that has any personal experience using such a program.

    I personally don't use one but i follow these simple rules monthly:
    -NEVER touch the essential $$: (rent,transport,food)
    -Set up my bank to automatically move certain $$ to another account that i don't have direct access to every payday.
    -Any leftover $$ is mine to spend how i please.

    This has worked for me really well. In fact I even increased the savings deduction beginning this year. It was rough at first but i'm used to it now.
    Here's some apps. One of my friend is a big fan of mint but every time we hang out, he always seems to be out of $$ so yea.. :lol:

    http://www.businessinsider.com/7-best-personal-finance-apps-2015-3?op=1
    =============================================================
    "I put Soleil Moon Frye's breast reduction up with the Holocaust and Khmer Rouge purge as one of THE most senseless tragedies of the 20th Century." Return of Shiki.
    'Racism, that's the name of the game
    And you couldn't escape that if you was David Blaine
    Know what I'm sayin?' -Junk Science, House Wigger

  • aznspydermanaznspyderman Bye SRK. Joined: Posts: 739
    FYI - Mint will get you in trouble with some banks because it violates certain contractual stipulations - e.g. not giving access to random people (or companies) to your account.
    Twitter/Instagram: NYMixah on both.
    PSN: m1x4h. Xrd: Venom | Tekken: Lars/Lee/Kazuya/Bruce | ST: Blanka/Guile/Dic/DJ/Claw
    @WTF-Akuma-Hax mentions me like he want my eggroll.
  • StarhammerStarhammer The Laughing Man of SRK. Joined: Posts: 20,724 ✭✭✭✭✭ OG
    I've got a question that I've been having trouble getting answers for.

    If you have a DRIP account set up,when exactly are your dividends taxed? I mean, are they taxable during the point before they are re-invested, or are they only taxable after you cash out, like the rest of it? Thanks.

    -Starhammer-
    Always think it's strange when black dudes accuse other black dudes of not being hood enough. Like isn't that a good thing?

    AV by Rick Ross.
  • Ken34Ken34 a.k.a Mashima Taichi Joined: Posts: 7,128 ✭✭✭✭✭ OG
    Starhammer wrote: »
    I've got a question that I've been having trouble getting answers for.

    If you have a DRIP account set up,when exactly are your dividends taxed? I mean, are they taxable during the point before they are re-invested, or are they only taxable after you cash out, like the rest of it? Thanks.

    -Starhammer-

    when you go to fill out your tax return, whether the dividend was reinvested or not, doesnt matter, still counts as dividend earned, so it is taxable.
    "True Strength is something Money and Credit cards cannot buy"
  • BullDancerBullDancer Mentos, The Freshmaker Joined: Posts: 9,457
    Looking at the beginning of this thread, it's hard to believe that the world and people were in a much different place economically.
    "Rock abandoned Neesa there like you were gonna abandon your son and wife and live alone with your TV"~Akuma-HAX
  • Dj Hyper KidDj Hyper Kid The Nati Kid Joined: Posts: 5,500
    edited June 2016
    Hey all, I could use some financial encouragement. Chicago has been kicking my ass and my finances. Just had a very, very rough patch financially, and am looking for something to break. So just venting a bit in here because it seems like despite having an education and credentials, Chicago just doesn't want to fuck with ya boy.
    Post edited by Dj Hyper Kid on
  • NinetiesArcadeNinetiesArcade Joined: Posts: 1,490
    I just checked my Lending Club account and the $3,000 loan investment i put there last Dec. is now close to 4k+ even with the notes that got 'charged off' (i bet it's some broke-ass niggas :mad: ). Anyways, its kinda insane- it's earning about $200+ interest at this point which gets re-invested back into $50.00 chunks with average rate-of-return 8%+ as of today so technically if I shut down the auto-reinvest tool and just wait for all my current active notes be paid, total value will be even higher! It's compound-interest-on-top-of-compounded-interest-on-top-of-etc :lol:
    In summary:
    giphy.gif

    Hope that hyped you up man. The only potential 'bad' news is the company is currently under investigation because apparently it doesn't have enough cash reserves if every investor request to be paid all at the same time. I ain't stressing doe; the global economy would need to be in melt down mode for that to happen..which is highly unlikely so yea. This thing is earning money while I sleep/play vidjahgames/ surf/ etc. :tup:

    =============================================================
    "I put Soleil Moon Frye's breast reduction up with the Holocaust and Khmer Rouge purge as one of THE most senseless tragedies of the 20th Century." Return of Shiki.
    'Racism, that's the name of the game
    And you couldn't escape that if you was David Blaine
    Know what I'm sayin?' -Junk Science, House Wigger

  • twigstertwigster Joined: Posts: 585
    Hey all, I could use some financial encouragement. Chicago has been kicking my ass and my finances. Just had a very, very rough patch financially, and am looking for something to break. So just venting a bit in here because it seems like despite having an education and credentials, Chicago just doesn't want to fuck with ya boy.

    It won't help you at all (probably), but move out of Chicago.
  • Dj Hyper KidDj Hyper Kid The Nati Kid Joined: Posts: 5,500
    twigster wrote: »
    Hey all, I could use some financial encouragement. Chicago has been kicking my ass and my finances. Just had a very, very rough patch financially, and am looking for something to break. So just venting a bit in here because it seems like despite having an education and credentials, Chicago just doesn't want to fuck with ya boy.

    It won't help you at all (probably), but move out of Chicago.

    Yeah, we have thought about it. Honestly besides from the sudden financial pitfall (layoffs), we actually like Chicago a lot. Plus if we left Chicago, my wife was talking about going back to Ohio, which I most definitely don't want to do. I am hoping things get easier though.
  • Ken34Ken34 a.k.a Mashima Taichi Joined: Posts: 7,128 ✭✭✭✭✭ OG
    I just checked my Lending Club account and the $3,000 loan investment i put there last Dec. is now close to 4k+ even with the notes that got 'charged off' (i bet it's some broke-ass niggas :mad: ). Anyways, its kinda insane- it's earning about $200+ interest at this point which gets re-invested back into $50.00 chunks with average rate-of-return 8%+ as of today so technically if I shut down the auto-reinvest tool and just wait for all my current active notes be paid, total value will be even higher! It's compound-interest-on-top-of-compounded-interest-on-top-of-etc :lol:
    In summary:
    giphy.gif

    Hope that hyped you up man. The only potential 'bad' news is the company is currently under investigation because apparently it doesn't have enough cash reserves if every investor request to be paid all at the same time. I ain't stressing doe; the global economy would need to be in melt down mode for that to happen..which is highly unlikely so yea. This thing is earning money while I sleep/play vidjahgames/ surf/ etc. :tup:

    yea i heard about that investigation, the stock got rocked from it. i was always interested in it, but didnt know if people payed their shit back or not, so i just stuck to stocks and ETFs.
    "True Strength is something Money and Credit cards cannot buy"
  • BullDancerBullDancer Mentos, The Freshmaker Joined: Posts: 9,457
    edited June 2016
    Starting this August, I'm going to start saving up a ton of money. I need a safe place to keep my money where it can accumulate more interest than a bank but can be taken out on a monthly or even quarterly basis without penalty. Is there anything like that? I heard mutual funds would be a good place to start for a scrub like myself that lacks starting capital.

    EDIT: Also heard that real estate can pick up money quickly, but they can possibly go under and you lose everything. I'd never do this risky shit without significant startup, but if there is something that can give me a decent percentage without penalty then I could use the profits off of that money to fuel further investments.
    "Rock abandoned Neesa there like you were gonna abandon your son and wife and live alone with your TV"~Akuma-HAX
  • NinetiesArcadeNinetiesArcade Joined: Posts: 1,490
    @BullDancer: have you checked your local bank? They may have some local investment tools that might satisfy your requirement. My shitty bank introduced one last fall that is basically a managed stock fund where it has guarantee rate of return. I have the option to pull out every quarter. it's not FDIC-insured though and has minimum investment 1k(?). I'm basically part of a fund group working mainly with blue chip stocks. If i remember right, it has guarantee return of 4%+ . It sure beats the .001% savings interest it was earning before though :lol:
    I would stay away from stocks though unless you have exceptional Big Data research skills and knows the industry you want to get into inside-out(trends, seasonal swings, etc).

    Good luck.
    =============================================================
    "I put Soleil Moon Frye's breast reduction up with the Holocaust and Khmer Rouge purge as one of THE most senseless tragedies of the 20th Century." Return of Shiki.
    'Racism, that's the name of the game
    And you couldn't escape that if you was David Blaine
    Know what I'm sayin?' -Junk Science, House Wigger

  • BullDancerBullDancer Mentos, The Freshmaker Joined: Posts: 9,457
    @NinetiesArcade thanks for the advice. I'm with a credit union so idk if they have programs to hook a brother up. I'll probably report to this thread in Q4 to either talk about small gains or crushing failure.
    "Rock abandoned Neesa there like you were gonna abandon your son and wife and live alone with your TV"~Akuma-HAX
  • BullDancerBullDancer Mentos, The Freshmaker Joined: Posts: 9,457
    edited June 2016
    After educating myself further, Robo managed ETFs are the best option for the small money investor. In the next two months I'm gonna have to hit one of you guys up for that temporarily free betterment reference.

    EDIT: Honestly I might do like 20% Bonds and 50% Stocks and 30% cash. I have to get real frugal.
    "Rock abandoned Neesa there like you were gonna abandon your son and wife and live alone with your TV"~Akuma-HAX
  • BEWDBEWD 鬼の顔 Joined: Posts: 5,195 ✭✭✭✭✭ OG
    Hey all, I could use some financial encouragement. Chicago has been kicking my ass and my finances. Just had a very, very rough patch financially, and am looking for something to break. So just venting a bit in here because it seems like despite having an education and credentials, Chicago just doesn't want to fuck with ya boy.
    Hey all, I could use some financial encouragement. Chicago has been kicking my ass and my finances. Just had a very, very rough patch financially, and am looking for something to break. So just venting a bit in here because it seems like despite having an education and credentials, Chicago just doesn't want to fuck with ya boy.

    I feel your pain, been struggling so much even with getting a job with the state and i really dont have any other expenses besides rent car note and car insurance yet it still feels like I dont have nearly enough money to do anything but pay bills : /
    世界最強の生物
  • Jion_WansuJion_Wansu Joined: Posts: 6,148
    So how 'bout that brexit...
  • Ken34Ken34 a.k.a Mashima Taichi Joined: Posts: 7,128 ✭✭✭✭✭ OG
    Jion_Wansu wrote: »
    So how 'bout that brexit...

    lmao, that shit has the markets in full turnt up Volatility mode, fucking swingy like a bipolar woman. if we open up at these current gains and hold them throught the session, that is one crazy ass pop, im glad i have no short positions and i cashed out of my gold etf last week.
    "True Strength is something Money and Credit cards cannot buy"
  • twigstertwigster Joined: Posts: 585
    Ken34 wrote: »
    Jion_Wansu wrote: »
    So how 'bout that brexit...

    lmao, that shit has the markets in full turnt up Volatility mode, fucking swingy like a bipolar woman. if we open up at these current gains and hold them throught the session, that is one crazy ass pop, im glad i have no short positions and i cashed out of my gold etf last week.

    My gold stocks have doubled since December, so I'm happy with it. Strange that whenever there's bad news, markets go higher again. the stock market is literally trading in opposition to the economy.