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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!

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Old 03-24-2017, 01:53 PM   #841
O.city O.city is offline
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Oh hell, there are phase outs for student loan interests. Forgot that. My bad.

I'm with you on the money thing. My gross receipts are pretty damn high. My net income is far lower. My net cash flow to management is really pretty dang low. So I'm handling a shitload of money, and trying to hang onto a couple bills as they flow by.

Regarding your debt service, servicing your business debt is paramount. If

you have to borrow money for anything, you will be borrowing against the equity in the business. That's not to say, don't pay attention to your student loans, especially if those rates are higher, but you really need to mind the equity in your practice, especially since it is in an LLC.

If you're good with that, plowing out student loan debt is good, especially if they are at 7%.

I'm glad you're doing well though. I have a friend that graduated vet school a few years ago with somewhere near your numbers. Now she's looking for hardship exemptions and shit. I told her she's way tougher than me. If I wasn't able to service debt, I'd melt down. Like full on nuclear meltdown. That is probably my biggest fear.

I'm also with you on the tired bit. I'm not so much tired of the job. I've worked a metric ****ton of hours, which sucks and I'm trying to do better on, but my bullshit tolerance is used up. Anymore I'm criminally pragmatic, and if you can't help me, or you **** around and waste my time, I might cut your head off. I'm working on that too, but that's a tougher one.

All that being said, I wouldn't change it. I don't miss corporate life. Like at all. Even when I'm working a billion hours.



Cash on hand is a good idea IMO. You'd like to be able to get a return on it, but I try to keep as much cash as I can because it always spends and it's always there.

That being said, if you have a personal emergency, make sure you talk to an accountant and review your operating agreement before you pull your money out and spend it on a non-business expense. Most guys don't give a shit, but I work very hard not to pierce the corporate veil.

Again, I'm really glad you're doing well. I felt overwhelmed with the $35K I graduated with.
I am the owner of the office, the way I understand it, I can do what I need to with that money, if worst comes to worst. It's not ideal from a tax standpoint though.

Yeah, the debt sucks. It is what it is it was about my only option to becoming a dentist. My parents couldn't foot that bill and frankly, I didn't expect them to. I had a golf Scholie for undergrad and with academic stuff, that got me thru undergrad.

We really lucked out in that my wife got into her business at the right time and is doing well, so I'm throwing as much $ at debt as I can. I figure I can be debt free by 35ish, no student loan and no practice debt. If I can do that, I'll flip all that to my retirement and kids stuff.

Or atleast that's the plan
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Old 03-24-2017, 06:39 PM   #842
RubberSponge RubberSponge is offline
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Don't worry about the money you didn't make. I scoped out NVDA 6 months ago and didn't put in a dime. Dumb. Have to move on.

I try to stay away from long options as much as I can. I am not a big fan of having a significant amount of money tied up for a long period of time without a dividend. Having said that, they definitely have there place to make money. Been looking long call options on MU at 25 but have not pulled the trigger.
When this post was made, MU closed at 22.34 on 1/09/17

Today it closed at 28.43. Wish I would have followed my advice and bought option contracts of it a long time ago. Could have retired! I kid. Maybe take a damn nice trip.

On another note, as far as buying MJ stocks that are cheap, I like CNAB the best. I don't have much money in them and wouldn't advise to buy a bunch either. I just like what I see from them at this point.
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Old 03-24-2017, 07:44 PM   #843
lewdog lewdog is offline
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If he took his "play" money and put it in a broad market index fund he'd have $41,000 more today than he does. Losing money on stocks over the past 8 years is beyond embarrassing.

If you want to gamble, go to Las Vegas, throw your money away, but don't act like you're doing something half-intelligent or that you have advice others could learn from.
For the record, he clearly helped many of us understand options trading in his scenarios. He stated multiple times there was a lot of risk involved. He never once said, this is a "must investment" or pedaled his ideas on anyone. There's no hurt in learning about something in the market and deciding for yourself if you are ok with the risk. That in a nutshell, is investing.

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Old 03-25-2017, 12:20 AM   #844
scho63 scho63 is offline
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Quote:
Originally Posted by FD View Post
If he took his "play" money and put it in a broad market index fund he'd have $41,000 more today than he does. Losing money on stocks over the past 8 years is beyond embarrassing.

If you want to gamble, go to Las Vegas, throw your money away, but don't act like you're doing something half-intelligent or that you have advice others could learn from.
If the Queen had balls she would be the King

If I didn't spend $500,000-600,000 eating and drinking these past 20-25 years I would be retired

If I shorted the market the day before 1987 Black Monday I would be rich

If I bought Microsoft or Apple when they first came out I would be rich

If I exercised more I wouldn't be fat

You said you play craps.....I guess that gambling is ok but mine is not.

My 401K did very well and so did some of my other stocks.

By the way, I made another nearly $4,000 the last two days in BABA options, both CALLS and PUTS.
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Old 03-25-2017, 12:22 AM   #845
Demonpenz Demonpenz is online now
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I am sure I am the only numb nuts that does this. I got a car loan with zero interest because I got good credit. I pay 2 dollars every month when I pay online for a convince fee. So what's the point of zero interest if you still pay money. I finally just got in the habit of mailing in a check to avoid the fee.
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Old 03-25-2017, 12:34 AM   #846
Demonpenz Demonpenz is online now
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I don't get the max out 401k Roth or Roth IRA. Also money is about feeling good or secure. If you can find a reason to not shoot yourself by Gambling in the market go for it. Not everyone finds boring investing interesting. I gamble at the boat but want something stable to retire on.
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Old 03-25-2017, 02:15 PM   #847
FD FD is offline
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Quote:
Originally Posted by scho63 View Post
If the Queen had balls she would be the King

If I didn't spend $500,000-600,000 eating and drinking these past 20-25 years I would be retired

If I shorted the market the day before 1987 Black Monday I would be rich

If I bought Microsoft or Apple when they first came out I would be rich

If I exercised more I wouldn't be fat

You said you play craps.....I guess that gambling is ok but mine is not.

My 401K did very well and so did some of my other stocks.

By the way, I made another nearly $4,000 the last two days in BABA options, both CALLS and PUTS.
I'm not very optimistic that this will work, but I think it's worth a try. I'm going to say this one last time and hope it sinks in: you are bad at what you do and you should stop doing it.

For anyone else reading this who has "learned" from this guy, he is not someone you want to learn from. If a significant part of your knowledge about options trading comes from a guy on a football message board, you should not be doing options trading. It is a bad idea.
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Old 03-25-2017, 06:00 PM   #848
scho63 scho63 is offline
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Quote:
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I'm not very optimistic that this will work, but I think it's worth a try. I'm going to say this one last time and hope it sinks in: you are bad at what you do and you should stop doing it.

For anyone else reading this who has "learned" from this guy, he is not someone you want to learn from. If a significant part of your knowledge about options trading comes from a guy on a football message board, you should not be doing options trading. It is a bad idea.
Show me where I tell one single person in this thread they should trade options? I haven't

I've spent years as a broker in a prior life.

I talk all the time about risk, risk, and risk. Not for the average or unsophisticated investor. I haven't even gotten into covered call writing or naked put selling, which is a whole other level of crazy that I don't participate in.

I link to the CBOE and other investor based explanations on options. I explain some basics

Show me one time I gave false information about options? You can't!

You have a deeper issue going on......
Maybe you lost money on options and are bitter?
Maybe you invested in penny stocks from a newsletter and cost you money?
Maybe you are reformed gambler?
Something more is going on with you.......
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Old 03-26-2017, 12:03 PM   #849
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Originally Posted by scho63 View Post
Show me where I tell one single person in this thread they should trade options? I haven't

I've spent years as a broker in a prior life.

I talk all the time about risk, risk, and risk. Not for the average or unsophisticated investor. I haven't even gotten into covered call writing or naked put selling, which is a whole other level of crazy that I don't participate in.

I link to the CBOE and other investor based explanations on options. I explain some basics

Show me one time I gave false information about options? You can't!

You have a deeper issue going on......
Maybe you lost money on options and are bitter?
Maybe you invested in penny stocks from a newsletter and cost you money?
Maybe you are reformed gambler?
Something more is going on with you.......
I'm just a guy who knows a lot about money management and hopes there aren't people on here reading this thread and making terrible decisions with their money like you.
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Old 03-26-2017, 01:52 PM   #850
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I'm just a guy who knows a lot about money management and hopes there aren't people on here reading this thread and making terrible decisions with their money like you.
You didn't answer a single question I asked.

So playing craps is the good money management skills you speak off?

I'm not risking my rent or car payment money.

I'm enjoying 6-9 months off in the sunshine in Scottsdale AZ without working a single day at 54 years old so I think I've done a few things right.

But that's OK, I'm sure you are the money manager to the stars in Hollywood.
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Old 03-26-2017, 01:53 PM   #851
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I'm just a guy who knows a lot about money management and hopes there aren't people on here reading this thread and making terrible decisions with their money like you.
He's telling us what he does. He hasn't advocated his style as far as I know.
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Old 03-26-2017, 01:54 PM   #852
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You didn't answer a single question I asked.

So playing craps is the good money management skills you speak off?

I'm not risking my rent or car payment money.

I'm enjoying 6-9 months off in the sunshine in Scottsdale AZ without working a single day at 54 years old so I think I've done a few things right.

But that's OK, I'm sure you are the money manager to the stars in Hollywood.
And it's a fantastic freaking day. There's not a better Margarita day is known to man. Well, maybe yesterday, or Friday, or...

THIS is why we move here. Enjoy the fruits of your labor man.
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Old 03-27-2017, 08:48 AM   #853
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.
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Old 03-27-2017, 08:50 AM   #854
Weapon X Weapon X is offline
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Still can't post links but add the youtube prefix and this heavenly blessed beauty Jewess (also an MSc from Oxford and runs a Silicon Valley think-tank and VC firm) will explain the blockchain:

watch?v=RplnSVTzvnU
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Old 04-10-2017, 07:38 PM   #855
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Anyone know much about Pure Energy Minerals (PEMIF)? I read about an agreement with Tesla awhile ago for sourcing lithium. I honestly can't find a good source that this deal is even true. I can't find how much Tesla uses this company's source and why exactly this stock has been almost cut in half in the past year? Seems a bit risky but also possibly a good time to buy. I just can't locate much information outside of a few articles spaced out over a few years. Is this just another penny stock?
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