[quote]dmaddox wrote:
Save your money, and buy Gold and Silver. The end is near. We are all going to die.
Have a nice day.
I buy Rental Properties. I am getting about $36k a year right now tax free. Now with housing prices going up I am making a killing.[/quote]
Smart.
A pimp is ultimately investing in depreciating assets.
I am going to hell for this…
[quote]Facepalm_Death wrote:
[quote]Rebel Shuttle wrote:
[quote]theuofh wrote:
Have you heard of ZIRP? If it’s rate of return you’re interested in, you really can’t beat selling drugs. [/quote]
I do live in Washington.[/quote]
whereabouts? We could go in together starting a dispensary. it’ll be a joint venture[/quote]
Heh, “a joint venture”.
[quote]CEZAR wrote:
Get a online brokerage account and buy stocks that pay dividends like ATT. Depending on how much you have to invest, you may want to set them up as DRIPs at first till they are paying enough out. Later you can have them pay out to your account in cash.[/quote]
Are you allowed to use the dividend from a DRIP towards stocks from other corporations than the one that payed you out?
[quote]Xav wrote:
To get a few hundred dollars a month you need a significant amount of money, do you have this? Let’s say you want 200 USD / month → 2400 a year. Let’s assume you have a annualized 7% return (MORE OR LESS the S&P 500 average), this gives around 35k USD as initial investment (in my eyes this is a lot, I don’t know your situation). This is way too optimistic by the way. Getting this return means beating the majority of professionals. Not to mention the 7% is an average, so you can’t rely on withdrawing your gains consistently.
Rental property might be a good idea if you’re willing to invest a lot of effort to learn this trade. It’s not as easy as most people make it sound. I’m guessing Washington is really expensive too? If you’re looking to invest in rental property why not do it indirectly through REITs?
Relying on dividends for fixed income seems like a very very bad idea to me. The returns are meager and volatile. You are exposed to non-systemic risk so your investment can (and will eventually) drop to zero. You can get comparable returns with bonds, REITs or annuities.[/quote]
I wasn’t trying use the stock market. If I were going to put my money on the stock market it would be to make more money. I don’t have the money to invest in rental property. I thought of buying bonds but don’t you have to wait for it to mature before you can collect any money?
[quote]sufiandy wrote:
Others mentioned this but what amount are you able to invest currently? And by a few hundred a month do you mean $300 or much more to cover rent?[/quote]
I have 8 grand to invest. By a few hundred I mean between 500 - 1000.
[quote]on edge wrote:
Thirty thousand dollars invested in VNR will give you a monthly distribution of $225 at a very favorable tax rate (how to handle the tax on this equity requires research). If you do not DRIP the monthly distribution it is available for you to use as you see fit.[/quote]
What’s VNR?
[quote]Bauber wrote:
[quote]dmaddox wrote:
[quote]Bauber wrote:
[quote]Waittz wrote:
[quote]Teledin wrote:
If you don’t have a significant amount to splash towards investments, I would highly recommend looking at your current situation and cutting costs both monetary and time-based. It’s tends to always be an overlooked way of cashing in and your return on investment is a lot greater where money is scarce.
Just some examples. The time you save you can put your skills to use and do your hustle on the side and earn some money, and the cash you save and extra you earn you put forward to future investments.[/quote]
Please dont cut your own hair. [/quote]
I cut my own hair…[/quote]
A buzz is not a cut. It is a trim.
[/quote]
Correction, I trim my own hair.[/quote]
All excellent ideas. Speaking of cars, I bought a car back in October from a used car dealership. Being new to buying cars and not taking my time with the whole purchasing process I ended up with a car that needs a bunch of work. The classic hoodwinked by the dealership tale.
Obviously I could’ve taken my car to a mechanic to fix it up and weep at my bank balance, especially since my car is a Volkswagen. Instead I’ve been using this as an opportunity to learn to do my own maintenance. I have entertained the idea of using what I have and will learn to buy a car that needs work for cheap and reselling it for a profit.
[quote]dmaddox wrote:
Save your money, and buy Gold and Silver. The end is near. We are all going to die.
Have a nice day.
I buy Rental Properties. I am getting about $36k a year right now tax free. Now with housing prices going up I am making a killing.[/quote]
But what good is gold and silver if I’m dead?
[quote]Rebel Shuttle wrote:
I have 8 grand to invest. By a few hundred I mean between 500 - 1000.
[/quote]
You have $8k to invest and want to make between %75 and %150 annualized.
Seems reasonable.
Forget about your $8K and put it in the bank. If you need extra money, you’re not going to make it earning interest off of your nut. Get a second job and earn money that way.
LOL You’ve got 8 grand and you want to get a “few hundred a month” interest? Please tell me you are very young because you are certainly very naive.
I’m going to give you the benefit of the doubt and assume you are very young. Instead of looking to get a passive stream of chump change, why don’t you roll the dice with the 8 grand and see if you can truly make an impact on your life. Buy Tesla stock with it. More than likely in 5-10 you will have some real money to play with.
At your age you may as well be bold because you’ve got time to make it up if it goes south. I’ve been shamelessly plugging this stock on here for months now, but really, this stock is a rigged pair of dice that will come up 7s almost every time. Now is also a good time to buy in my opinion. It could slide for a few more weeks but it’s getting to be about time to make another run.
Or you could put it toward some education.
[quote]CEZAR wrote:
Get a online brokerage account and buy stocks that pay dividends like ATT. Depending on how much you have to invest, you may want to set them up as DRIPs at first till they are paying enough out. Later you can have them pay out to your account in cash.[/quote]
Are you allowed to use the dividend from a DRIP towards stocks from other corporations than the one that payed you out?
Yes, but then it wouldn’t be a DRIP, you’d just get paid the dividend. You can do whatever you want with it like buy other stocks.
[quote]Xav wrote:
To get a few hundred dollars a month you need a significant amount of money, do you have this? Let’s say you want 200 USD / month → 2400 a year. Let’s assume you have a annualized 7% return (MORE OR LESS the S&P 500 average), this gives around 35k USD as initial investment (in my eyes this is a lot, I don’t know your situation). This is way too optimistic by the way. Getting this return means beating the majority of professionals. Not to mention the 7% is an average, so you can’t rely on withdrawing your gains consistently.
Rental property might be a good idea if you’re willing to invest a lot of effort to learn this trade. It’s not as easy as most people make it sound. I’m guessing Washington is really expensive too? If you’re looking to invest in rental property why not do it indirectly through REITs?
Relying on dividends for fixed income seems like a very very bad idea to me. The returns are meager and volatile. You are exposed to non-systemic risk so your investment can (and will eventually) drop to zero. You can get comparable returns with bonds, REITs or annuities.[/quote]
I wasn’t trying use the stock market. If I were going to put my money on the stock market it would be to make more money. I don’t have the money to invest in rental property. I thought of buying bonds but don’t you have to wait for it to mature before you can collect any money?
[quote]sufiandy wrote:
Others mentioned this but what amount are you able to invest currently? And by a few hundred a month do you mean $300 or much more to cover rent?[/quote]
I have 8 grand to invest. By a few hundred I mean between 500 - 1000.
Just to make sure this is money you have to “invest”, not your savings? And it seems like you’re thinking really short term. There’s not much 8k can do for in the short term. When I think of investing, it’s in the long term. The more money you have the more it can do for you. Build up your fund and just worrying about growing it for a while. On a side note, I only recently got into stocks with 5k last August and it’s up to over 8k now just by logging in and doing a bit of research and a couple trades here and there. Kind of logging on Tnation and picking up lifting knowledge.
If you don’t have a significant amount to splash towards investments, I would highly recommend looking at your current situation and cutting costs both monetary and time-based. It’s tends to always be an overlooked way of cashing in and your return on investment is a lot greater where money is scarce.
Just some examples. The time you save you can put your skills to use and do your hustle on the side and earn some money, and the cash you save and extra you earn you put forward to future investments.[/quote]
This is great! Every-time I think of spending money I think of what i can do with it. Like if you’re in the store and about buy something you don’t need. I just choose to “spend” that money instead on investing, by using my mobile app and transferring it to my brokerage account.
All excellent ideas. Speaking of cars, I bought a car back in October from a used car dealership. Being new to buying cars and not taking my time with the whole purchasing process I ended up with a car that needs a bunch of work. The classic hoodwinked by the dealership tale.
Obviously I could’ve taken my car to a mechanic to fix it up and weep at my bank balance, especially since my car is a Volkswagen. Instead I’ve been using this as an opportunity to learn to do my own maintenance. I have entertained the idea of using what I have and will learn to buy a car that needs work for cheap and reselling it for a profit.
Be careful with this, you need a solid knowledge base not only on cars but on the time and cost to fix them. If you’re a novice, it may take you a while to fix something or more money than you thought esp if don’t have a garage, lift and tools. But my friend does this and only gets cars that will cost less than 1k to fix and knows how much he can sell them for.
[quote]Xav wrote:
To get a few hundred dollars a month you need a significant amount of money, do you have this? Let’s say you want 200 USD / month → 2400 a year. Let’s assume you have a annualized 7% return (MORE OR LESS the S&P 500 average), this gives around 35k USD as initial investment (in my eyes this is a lot, I don’t know your situation). This is way too optimistic by the way. Getting this return means beating the majority of professionals. Not to mention the 7% is an average, so you can’t rely on withdrawing your gains consistently.
Rental property might be a good idea if you’re willing to invest a lot of effort to learn this trade. It’s not as easy as most people make it sound. I’m guessing Washington is really expensive too? If you’re looking to invest in rental property why not do it indirectly through REITs?
Relying on dividends for fixed income seems like a very very bad idea to me. The returns are meager and volatile. You are exposed to non-systemic risk so your investment can (and will eventually) drop to zero. You can get comparable returns with bonds, REITs or annuities.
[/quote]
you’ve had success with REITs? I’ve only recently heard of them and still making my mind.
[quote]dmaddox wrote:
Save your money, and buy Gold and Silver. The end is near. We are all going to die.
Have a nice day.
I buy Rental Properties. I am getting about $36k a year right now tax free. Now with housing prices going up I am making a killing.[/quote]
I live by the beach in SD and so many of the vacation rentals are going up at a discount. Wish I had the cash to buy.
Do you use a management company so you don’t have to deal with anything Or try to do it all yourself to keep more profit?
[quote]on edge wrote:
LOL You’ve got 8 grand and you want to get a “few hundred a month” interest? Please tell me you are very young because you are certainly very naive.
I’m going to give you the benefit of the doubt and assume you are very young. Instead of looking to get a passive stream of chump change, why don’t you roll the dice with the 8 grand and see if you can truly make an impact on your life. Buy Tesla stock with it. More than likely in 5-10 you will have some real money to play with.
At your age you may as well be bold because you’ve got time to make it up if it goes south. I’ve been shamelessly plugging this stock on here for months now, but really, this stock is a rigged pair of dice that will come up 7s almost every time. Now is also a good time to buy in my opinion. It could slide for a few more weeks but it’s getting to be about time to make another run.[/quote]
You’re right about me being young. Obviously I have a lot to learn about investing.
[quote]CEZAR wrote:
Just to make sure this is money you have to “invest”, not your savings? And it seems like you’re thinking really short term. There’s not much 8k can do for in the short term. When I think of investing, it’s in the long term. The more money you have the more it can do for you. Build up your fund and just worrying about growing it for a while. On a side note, I only recently got into stocks with 5k last August and it’s up to over 8k now just by logging in and doing a bit of research and a couple trades here and there. Kind of logging on Tnation and picking up lifting knowledge.[/quote]
The money is not my savings. It’s this 401(k) pension from my last employer. I can’t contribute more money to it because I was laid off and can only shift the money between a selection of funds and company stock. Virtually all of the growth it had was from what I contributed and what my employer matched. It lost value at the beginning of the year and hasn’t really seen much growth. So part of this is me wanting to see if I can do better.
Also my employer is doing away pensions. They got rid of them for new hires shortly after I started working there and they’ve frozen them for a lot of current employees. I strongly suspect I’ll face a similar situation so I want to get a jump on it before it happens.
I don’t mean to come across like I’m expecting to be the next Warren Buffet in the next five years or consistently have 75% annual growth. Clearly 8k is far too little to be skimming interest off of and that my focus should be on growing what I have.
[quote]dmaddox wrote:
I buy Rental Properties. I am getting about $36k a year right now tax free. Now with housing prices going up I am making a killing.[/quote]
dmaddox, how many rental properties do you have to make that figure?
[quote]Rebel Shuttle wrote:
[quote]on edge wrote:
LOL You’ve got 8 grand and you want to get a “few hundred a month” interest? Please tell me you are very young because you are certainly very naive.
I’m going to give you the benefit of the doubt and assume you are very young. Instead of looking to get a passive stream of chump change, why don’t you roll the dice with the 8 grand and see if you can truly make an impact on your life. Buy Tesla stock with it. More than likely in 5-10 you will have some real money to play with.
At your age you may as well be bold because you’ve got time to make it up if it goes south. I’ve been shamelessly plugging this stock on here for months now, but really, this stock is a rigged pair of dice that will come up 7s almost every time. Now is also a good time to buy in my opinion. It could slide for a few more weeks but it’s getting to be about time to make another run.[/quote]
You’re right about me being young. Obviously I have a lot to learn about investing.
[quote]CEZAR wrote:
Just to make sure this is money you have to “invest”, not your savings? And it seems like you’re thinking really short term. There’s not much 8k can do for in the short term. When I think of investing, it’s in the long term. The more money you have the more it can do for you. Build up your fund and just worrying about growing it for a while. On a side note, I only recently got into stocks with 5k last August and it’s up to over 8k now just by logging in and doing a bit of research and a couple trades here and there. Kind of logging on Tnation and picking up lifting knowledge.[/quote]
The money is not my savings. It’s this 401(k) pension from my last employer. I can’t contribute more money to it because I was laid off and can only shift the money between a selection of funds and company stock. Virtually all of the growth it had was from what I contributed and what my employer matched. It lost value at the beginning of the year and hasn’t really seen much growth. So part of this is me wanting to see if I can do better.
Also my employer is doing away pensions. They got rid of them for new hires shortly after I started working there and they’ve frozen them for a lot of current employees. I strongly suspect I’ll face a similar situation so I want to get a jump on it before it happens.
I don’t mean to come across like I’m expecting to be the next Warren Buffet in the next five years or consistently have 75% annual growth. Clearly 8k is far too little to be skimming interest off of and that my focus should be on growing what I have.[/quote]
Roll it into a Roth IRA. Although I am not sure of the tax implications, considering you have not paid any on the money yet. If you just pull it though you will surely take a big hit.
What you need to do is start a website and put some business structure behind it, don’t worry about a real business model or even being profitable. Take it to IPO and you can get a multi billion dollar valuation. Everybody’s doing it and getting rich.
[quote]Rebel Shuttle wrote:
[quote]on edge wrote:
LOL You’ve got 8 grand and you want to get a “few hundred a month” interest? Please tell me you are very young because you are certainly very naive.
I’m going to give you the benefit of the doubt and assume you are very young. Instead of looking to get a passive stream of chump change, why don’t you roll the dice with the 8 grand and see if you can truly make an impact on your life. Buy Tesla stock with it. More than likely in 5-10 you will have some real money to play with.
At your age you may as well be bold because you’ve got time to make it up if it goes south. I’ve been shamelessly plugging this stock on here for months now, but really, this stock is a rigged pair of dice that will come up 7s almost every time. Now is also a good time to buy in my opinion. It could slide for a few more weeks but it’s getting to be about time to make another run.[/quote]
You’re right about me being young. Obviously I have a lot to learn about investing.
[quote]CEZAR wrote:
Just to make sure this is money you have to “invest”, not your savings? And it seems like you’re thinking really short term. There’s not much 8k can do for in the short term. When I think of investing, it’s in the long term. The more money you have the more it can do for you. Build up your fund and just worrying about growing it for a while. On a side note, I only recently got into stocks with 5k last August and it’s up to over 8k now just by logging in and doing a bit of research and a couple trades here and there. Kind of logging on Tnation and picking up lifting knowledge.[/quote]
The money is not my savings. It’s this 401(k) pension from my last employer. I can’t contribute more money to it because I was laid off and can only shift the money between a selection of funds and company stock. Virtually all of the growth it had was from what I contributed and what my employer matched. It lost value at the beginning of the year and hasn’t really seen much growth. So part of this is me wanting to see if I can do better.
Also my employer is doing away pensions. They got rid of them for new hires shortly after I started working there and they’ve frozen them for a lot of current employees. I strongly suspect I’ll face a similar situation so I want to get a jump on it before it happens.
I don’t mean to come across like I’m expecting to be the next Warren Buffet in the next five years or consistently have 75% annual growth. Clearly 8k is far too little to be skimming interest off of and that my focus should be on growing what I have.[/quote]
Since you’ve been laid off you should be able to transfer it to E-trade, Schwab, Scott Trade or whatever so you will have all options available to you. It would also be a good idea to roll it into a ROTH as Testy suggests. You will have to pay some taxes for doing so but doing it will be worth it.
If you roll it into a Roth, you have to pay tax on the 8 grand. If you roll it into a regular IRA you have to pay taxes on whatever it grows to in 40 years. If you buy Tesla, that will be millions. The same millions in a Roth will be tax free in 40 years.
I now understand your question about if you could use distributions from whatever equity you invest the 8K in. The answer is no. If it is in a Roth, an IRA or a 401k you can’t use interest, dividends or distributions without a sever penalty. Funds in retirement accounts should only be used in dire emergencies.
[quote]CEZAR wrote:
you’ve had success with REITs? I’ve only recently heard of them and still making my mind. [/quote]
I use them for diversification purposes since my investment strategy is mainly based on modern portfolio theory. My investment career is quite short (I’m only 24) and since this is a long term strategy I can’t really say whether I’ve had success with REITs or not.
[quote]dmaddox wrote:
[quote]Bauber wrote:
[quote]Waittz wrote:
[quote]Teledin wrote:
If you don’t have a significant amount to splash towards investments, I would highly recommend looking at your current situation and cutting costs both monetary and time-based. It’s tends to always be an overlooked way of cashing in and your return on investment is a lot greater where money is scarce.
Just some examples. The time you save you can put your skills to use and do your hustle on the side and earn some money, and the cash you save and extra you earn you put forward to future investments.[/quote]
Please dont cut your own hair. [/quote]
I cut my own hair…[/quote]
A buzz is not a cut. It is a trim.
[/quote]
…cut…trim… all I know is in 10 years from now that simple change is savings me a few thousand and I’m opening up an extra few days of my life by not having to wait on other people. 
[quote]Teledin wrote:
[quote]dmaddox wrote:
[quote]Bauber wrote:
[quote]Waittz wrote:
[quote]Teledin wrote:
If you don’t have a significant amount to splash towards investments, I would highly recommend looking at your current situation and cutting costs both monetary and time-based. It’s tends to always be an overlooked way of cashing in and your return on investment is a lot greater where money is scarce.
Just some examples. The time you save you can put your skills to use and do your hustle on the side and earn some money, and the cash you save and extra you earn you put forward to future investments.[/quote]
Please dont cut your own hair. [/quote]
I cut my own hair…[/quote]
A buzz is not a cut. It is a trim.
[/quote]
…cut…trim… all I know is in 10 years from now that simple change is savings me a few thousand and I’m opening up an extra few days of my life by not having to wait on other people.
[/quote]
There are two items in every Profit and Loss Statement. Income and Expenses. I personally would prefer to increase my income. I am not against cutting expenses, but cutting my own hair seems a bit much. Get rid of the cell phone and data plan, cable, and the morning $5 coffee. I get my hair cut once a month and it cost me about $20-30 depending on where I go.
[quote]on edge wrote:
LOL You’ve got 8 grand and you want to get a “few hundred a month” interest? Please tell me you are very young because you are certainly very naive.
I’m going to give you the benefit of the doubt and assume you are very young. Instead of looking to get a passive stream of chump change, why don’t you roll the dice with the 8 grand and see if you can truly make an impact on your life. Buy Tesla stock with it. More than likely in 5-10 you will have some real money to play with.
At your age you may as well be bold because you’ve got time to make it up if it goes south. I’ve been shamelessly plugging this stock on here for months now, but really, this stock is a rigged pair of dice that will come up 7s almost every time. Now is also a good time to buy in my opinion. It could slide for a few more weeks but it’s getting to be about time to make another run.[/quote]
NOOO fuck Tesla, buy Zynga…
[quote]usmccds423 wrote:
[quote]on edge wrote:
LOL You’ve got 8 grand and you want to get a “few hundred a month” interest? Please tell me you are very young because you are certainly very naive.
I’m going to give you the benefit of the doubt and assume you are very young. Instead of looking to get a passive stream of chump change, why don’t you roll the dice with the 8 grand and see if you can truly make an impact on your life. Buy Tesla stock with it. More than likely in 5-10 you will have some real money to play with.
At your age you may as well be bold because you’ve got time to make it up if it goes south. I’ve been shamelessly plugging this stock on here for months now, but really, this stock is a rigged pair of dice that will come up 7s almost every time. Now is also a good time to buy in my opinion. It could slide for a few more weeks but it’s getting to be about time to make another run.[/quote]
NOOO fuck Tesla, buy Zynga…[/quote]
If we are gambling just go to Vegas and put it all on black.