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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 04-11-2017, 07:40 AM   #856
Weapon X Weapon X is offline
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Blockchain. Blockchain is a technological breakthrough that even the programmers are still learning new use cases for on a daily basis.

You see execs from Goldman, JP Morgan, Merrill, Microsoft, etc. (and the government), leaving lucrative careers to run start ups or invest in blockchain.

It's projected that the blockchain will make 30-60% of ALL global jobs redundant and unnecessary.

Invest now. Blockchain will be bigger than the internet. Already valued in tens of billions, it will soon be measured in the trillions.

Top Blockchain Growth opportunities:

Ethereum (smart contracts, the Ethereum Enterprise Alliance is composed of Microsoft, JP Morgan, BNY Melon, Santander, Intel, etc) up 700% this year
PIVX (HUUUUUGE growth potential) up 650 in a WEEK
NEM (south east Asia's ethereum) up 400% so far this year
BitBay (homerun potential but could also strike out) up 330% this year
Ark is a small market cap play that's brand new that could really explode too

Obviously Bitcoin is the most reknowned/widespread blockchain, but it's currently undergoing a big scalability civil war between it's bitcoin core and bitcoin unlimited dev teams.

Learn about it, get involved, make smart decisions and you WILL be rich. Soon.
Since this post, PIVX, NEM and BitBay all up AT LEAST another 50%
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Old 04-12-2017, 11:20 PM   #857
TigeRRUppeRRcut TigeRRUppeRRcut is offline
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Thank you, kind sir. I will definitely look at those.

And here's one for you. Pure Energy Minerals, LTD. PEMIF. Lithium mining. $0.46/share, currently. About 1, 1.5 years from hitting. Load up while you can.
I've been tracking this like you said. They hit close to a 52 week low just now and will probably buy a good chunk of it. Hard to decipher where their efforts/research have come along to this point.
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Old 04-13-2017, 06:44 AM   #858
lewdog lewdog is offline
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I've been tracking this like you said. They hit close to a 52 week low just now and will probably buy a good chunk of it. Hard to decipher where their efforts/research have come along to this point.
I just brought them up but see you aren't quoting me.

Did someone else here mention them? I'm finding it difficult to find good information on them.
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Old 04-13-2017, 06:50 AM   #859
TigeRRUppeRRcut TigeRRUppeRRcut is offline
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I just brought them up but see you aren't quoting me.

Did someone else here mention them? I'm finding it difficult to find good information on them.
JH brought them up a month ago. They're a very small startup with what looks like a couple different area projects now trying to extract lithium. Their success hinges upon whether they can use this theoretical process to become a player in the industry. In comparison, the biggest supplier is getting Tesla about 1/3 of their lithium and are 40x the valuation of PEMIF
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Old 04-13-2017, 06:53 AM   #860
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I'm twiddling my thumbs waiting for portola to file their application to the fda for their drug reversal agent. It's supposed to be filed this quarter and I assume the fda will make a decision by this Fall. Two novel drugs on the market for a small start-up would be an awesome feat
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Old 04-18-2017, 01:45 PM   #861
JohnnyHammersticks JohnnyHammersticks is offline
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No worries. You can buy it in a couple of weeks when it's back at $0.15.
I was thinking the same thing, but it never came back down. Now it's (BITCF) at $0.83. Up over 1000% since I mentioned it about a month ago. Even the measly 20K shares I tried to buy for $1200 would be worth over $15k now.
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Old 04-18-2017, 03:30 PM   #862
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I was thinking the same thing, but it never came back down. Now it's (BITCF) at $0.83. Up over 1000% since I mentioned it about a month ago. Even the measly 20K shares I tried to buy for $1200 would be worth over $15k now.
Is there a ticker? My daughter just gave me her $200 bday money to throw at something for her. would like to take a chance at that
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Old 04-18-2017, 03:35 PM   #863
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Is there a ticker? My daughter just gave me her $200 bday money to throw at something for her. would like to take a chance at that

Maybe put something small in that if you must, but I seriously disagree with "go big or go home" investing strategies.

Buy a REIT that pays a 7% dividend yield, or another steady, stable, growth stock, or perhaps an Index Fund tracking ETF.

She presumably has decades. Start investing, and watch the magic of compounding and growth over many years work for her.
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Old 04-18-2017, 03:47 PM   #864
DaFace DaFace is offline
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Maybe put something small in that if you must, but I seriously disagree with "go big or go home" investing strategies.

Buy a REIT that pays a 7% dividend yield, or another steady, stable, growth stock, or perhaps an Index Fund tracking ETF.

She presumably has decades. Start investing, and watch the magic of compounding and growth over many years work for her.
Yep. This thread has kind of turned into the equivalent of a gambling thread lately. Interesting to hear about, but not exactly sound financial advice.
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Old 04-18-2017, 06:16 PM   #865
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Is there a ticker? My daughter just gave me her $200 bday money to throw at something for her. would like to take a chance at that
Your best best would be to start a Roth IRA for your child if they are of "age" to have some earned income. Here's the lose definition of earned income from the IRS.

It’s up to you (or the child) to document that she had income earned from work. The money can’t be an allowance or a gift. (You can find more about the IRS’s definition here). It’s up to the account custodian to document the service rendered, when it was done, and the payment. It also has to be a reasonable rate. You can’t pay $1,000 for a night of babysitting.

http://www.rothira.com/roth-iras-for-kids
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Old 04-18-2017, 07:47 PM   #866
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No mortgage and no dependents anymore means we're getting ****ing killed with income taxes. The Mrs is getting bought out of her pension soon, she just wants to dump it in her 401k, which already has a substantial amount of money in it. I was thinking maybe we should buy a rental house. Hell it probably wouldn't really make any money until we sold it, and it will likely lose money the first few years. Smart idea or not?
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Old 04-18-2017, 08:04 PM   #867
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No mortgage and no dependents anymore means we're getting ****ing killed with income taxes. The Mrs is getting bought out of her pension soon, she just wants to dump it in her 401k, which already has a substantial amount of money in it. I was thinking maybe we should buy a rental house. Hell it probably wouldn't really make any money until we sold it, and it will likely lose money the first few years. Smart idea or not?
Buying a home is a nice swing in the right direction financially. It can literally take you from "not being ahead" to being ahead with one investment.
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Old 04-18-2017, 08:09 PM   #868
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We already own one home free and clear, so we're already ahead. I'd just like to find some tax breaks, and her answer is to put more money in the 401k. Guess I'd like to diversify a bit from that, and maybe even claim some losses for a few years. I have no idea how that works. Suppose I need to talk to an accountant.
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Old 04-18-2017, 08:28 PM   #869
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Since this post, PIVX, NEM and BitBay all up AT LEAST another 50%
how do yo ubuy this stuff securely?
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Old 04-18-2017, 10:43 PM   #870
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No mortgage and no dependents anymore means we're getting ****ing killed with income taxes. The Mrs is getting bought out of her pension soon, she just wants to dump it in her 401k, which already has a substantial amount of money in it. I was thinking maybe we should buy a rental house. Hell it probably wouldn't really make any money until we sold it, and it will likely lose money the first few years. Smart idea or not?
Home mortgage interest only affects you if you itemize, meaning your medical insurance, LTC Insurance and expenses (after they exempt 10% of your gross income. Why? Because they're dicks that's why), Real Estate and Personal Property tax, Sales tax or state income tax, home mortgage interest and contributions are more than your standard deduction, which is 12,600 for married filing joint. There are some other weird ass deductions like un-reimbursed employee expenses and shit, but there are limits on those.

Accordingly, only monies spent OVER 12,600 does you any good.

Where you're getting smoked is the extra exemption for 4050. Also, if you haven't filled out a new W-4 form and whatever Nebraska's witholding form is, do it now. You're probably underwithheld, which is why you're getting smoked on the taxes.

RE: Rental

Rentals CAN be a good deal if you manage them properly. First, they need to make you money or you just as well pay tax and go invest in retirement. Renting here is a ****ING RACKET so everyone is doing it.

Basic management things, like bulletproof leases covering everything that can cost you piles of money, knowing the process for evicting mother****ers, and knowing the rent market so as to NOT be the cheapest place to rent, as well as finding a house to buy that will net you a good return will be the difference between a sound investment and a ****ing albatross that will make you want to pick a fight in a mexican bar just to end the agony.

As far as taxation, there are no withholdings, so make estimates, or at least save up whatever your tax bracket is for taxes. They're coming. There is no SE tax (which equates to both the employee and employer portions of social security and medicare, or to put a number on the ****ing 15.3%) So that's a major benefit.

Show a profit. Don't take a loss over and over or you'll get audited. On that note, save receipts. KEEP TRACK OF EVERYTHING. Every tool you buy to fix something, every mile you drive for any business regarding the rental (Keep a log, the money is good enough it is worth your time) It's a good idea to have a separate checking account for the rental and ONLY for the rental so it is easy to keep straight. Just record it as owner's draw if you pull money out for personal.

Don't pay yourself a wage, (essentially charging yourself SE), but make sure it is paying your time or you need to get rid of it.

And what nobody will say out loud is it is a good place to commit tax fraud. If you need a new door handle at the house - deduct it on the rental. You can do that with small stuff, but putting a 50,000 kitchen in your house won't fly. But tools you need for other stuff can be deducted over the rental. Supplies for the house, vacuum cleaners, light bulbs, whatever. It can be done. If you're comfortable with it. Some guys are, some aren't. Just make damn sure you have a receipt and a justification if you get called on it.

Rentals have to be depreciated (which is taking a portion of the cost as expense for the year). I can't remember the treatment, but it is quite a while. So what that does, is when you sell it, the basis in the sale is less whatever you depreciated. And sale price-basis=gain (taxable income but IIRC it is limited at 20%)

Say you bought it for 10,000, depreciated 2,000 and sold it for 10,000. Since you depreciated 2,000, you got a break of 2,000 on taxes, so now you get to pay the taxes. Boom. You owe $400 tax. And the numbers get pretty serious as they get big, so gain can change the game pretty significantly so if you sell something, hang onto the cash until your taxes are filed.

On the depreciation note, it is kind of a cash flow crunch because you spend ALL the money up front and only get the tax break spread over however many years. If you have the money saved up now, it shouldn't be a big deal because you've already paid the tax on it. But it can throw a wrench in things if you spend all your cash or borrow money to do it.

If you borrow money, the principle is not deductible, but interest is. So factor that into your cashflow. Some people get a mortgage on their primary residence to buy the rental. If you're itemizing without home mortgage interest and will be for perpetuity, that's fine. If you don't itemize, then you can't deduct the interest. And typically home mortgages are better rates, but you'll have to do the math on the tax impact of the interest vs rate savings.

Good luck man. Some guys love rentals, some guys hate them.

If you have any specific questions, feel free to shoot me a smoke.
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