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Old 06-27-2016, 11:23 AM  
DaFace DaFace is offline
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Personal finance and investing megathread extravaganza

I know lewdog (and maybe others) have mentioned the desire to have a place to chat about personal finance stuff. We'll see if there's enough interest to keep this going in the long-term, but at least for now, here's a place to chat about whatever personal finance topics come up.



If you're just getting started thinking about saving and don't know where to begin, this flow chart can help. Ask for advice in the thread for more help!

Last edited by DaFace; 01-24-2018 at 03:49 PM..
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Old 08-27-2018, 09:20 PM   #2281
Hammock Parties Hammock Parties is offline
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Originally Posted by lewdog View Post
What's in November for IQ?

And I'm mostly selling covered calls to make some ****ing cash while this dumb ass stock tanks. This was always a short term play for me but I've had to hold so damn long now!
When the chinese market turns it's going way up.

November is just when some have predicted it would skyrocket.
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Old 08-27-2018, 09:33 PM   #2282
lewdog lewdog is offline
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Originally Posted by Hammock Parties View Post
When the chinese market turns it's going way up.

November is just when some have predicted it would skyrocket.
Honestly, I think we see a short squeeze soon and a spike to $35-37 this week.
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Old 08-28-2018, 12:32 PM   #2283
DRU DRU is offline
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I had to look it up, so no for me. But I'm in the stage of life where I'm paid off and avoiding debt, so it's kind of irrelevant for me.
Well it wouldn't put you in debt. Actually quite the opposite. Your cash flow would remain exactly as it is now, but you would be leveraging your cash so that it continues to earn uninterrupted compound interest for life instead of constantly draining your account every time you buy something (ie. cars, vacations, weddings, business expenses, everyday personal expenses, etc.)

It guarantees that you'll reach the end of the "hockey stick" where those huge compounded returns come into play. Most people never make it there because you either spend or lose your money, which resets your compound curve on your timeline/graph, and can never be recaptured.

I've become very passionate about it since I began doing it have seen and felt it working.
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Old 08-28-2018, 01:07 PM   #2284
Amnorix Amnorix is offline
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Any Infinite Banking Concept practitioners in here?
Looks like its based on whole life insurance. Uhh, no thanks. Whole (or permanent) life insurance is pretty expensive as an investment vehicle, with a comparatively lousy rate of return. If you're a higher income earner and have maxed out your 401(k), IRAs, etc., and/or have some unique reason to have whole life, then sure, whatever, but for the vast majority of people, I wouldn't bother with it. Term insurance is substantially cheaper.

All that said, I do have a modest amount of whole life, which I got back in like 2000. Now, about 18 years later, the cash value of the policy equals the amount I have paid in premiums. Now, there was the peace of mind of having life insurance in case something happened to me years ago as well, of course, but still, that's a lousy return where the stock market since 2000 is up about a bazillion percent.

I would have been MUCH better if I took like X% of that whole life premium and put it into term insurance, fixed for 20 years, so I would have the same death benefit as with the whole life, and put the rest of it into index mutual funds or something.
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Old 08-28-2018, 04:14 PM   #2285
displacedinMN displacedinMN is offline
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What does the retirement account from the state offer? Can you pick different stocks or funds in it?
We do not get to pick how the funds in our retirement account. But it pays better than the IRA. time to make a call
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Old 08-28-2018, 04:43 PM   #2286
R8RFAN R8RFAN is offline
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I was just sitting on the toilet counting my stash and thought I would take a pic for all you broke dicks who frequent this site

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Old 08-28-2018, 05:04 PM   #2287
philfree philfree is offline
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I was just sitting on the toilet counting my stash and thought I would take a pic for all you broke dicks who frequent this site

Feds probably need to get an IP on this.
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Old 08-28-2018, 05:29 PM   #2288
Munson Munson is offline
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Only a drug dealer would have that much cash on hand.
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Old 08-28-2018, 05:32 PM   #2289
eDave eDave is offline
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Only a drug dealer would have that much cash on hand.
That's SAUTO walking around money.
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Old 08-28-2018, 05:36 PM   #2290
EPodolak EPodolak is offline
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Only a drug dealer would have that much cash on hand.
Could be the gif guy in the OP. Maybe we need a thread about banks.
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Old 08-28-2018, 05:52 PM   #2291
R8RFAN R8RFAN is offline
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Only a drug dealer would have that much cash on hand.
It's only about 7k
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Old 08-28-2018, 05:54 PM   #2292
Hog's Gone Fishin Hog's Gone Fishin is online now
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It's only about 7k

Liar, It's a $100 bill with a bunch of ones under it and you borrowed it from your Mom.
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Old 08-28-2018, 05:58 PM   #2293
R8RFAN R8RFAN is offline
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Liar, It's a $100 bill with a bunch of ones under it and you borrowed it from your Mom.
Look at the blue stripes lined up those are all 100's
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Old 08-28-2018, 06:12 PM   #2294
lewdog lewdog is offline
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Originally Posted by R8RFAN View Post
I was just sitting on the toilet counting my stash and thought I would take a pic for all you broke dicks who frequent this site

Sitting in that much cash is pretty dumb.

Absolutely no reason to do that. Have your money make more money.
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Old 08-28-2018, 06:22 PM   #2295
scho63 scho63 is offline
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Sitting in that much cash is pretty dumb.

Absolutely no reason to do that. Have your money make more money.

I think he takes his drug profits and reinvests in more drugs.

He may know about compounding interest!
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