Financial Discussion / Advice page 2

36 posts

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What’s the cheapest rent prices for houses over there that isn’t gonna be a total bomb of a house.

It GREATLY depends on the area. People hear about the Bay Area and assume that California is ridiculously expensive, but if you go inland a bit, you can find housing for 1/3 the price. I’d run a Craigslist search for the area you plan to move to. If you’re living alone, though, I’m assuming that you’ll want an apartment/studio rather than a house. Those are considerably cheaper.

I’d like to get into more traditional investments like stocks, ETFs, options, etc.

You could always invest in Obama! I’m seriously considering this… No way he can lose, right? RIGHT?!

 
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Yay for betting. Of course, the stats are flawed, because, based on stats in the book Freakanomics, money really isn’t that important to elections, so the money confidence in people probably isn’t as accurate as possible.

But still, go on Greg. Gamble away your life savings on the presidency.

 
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Gamble away your life savings on the presidency.

w00t! $273.46 on Obama!

 
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You know your exact savings? SUPER FINANCIAL NERD ALERT! >.>

 
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Wow, you are impatient damijin! The only online broker I’ve used was ShareBuilder, which was a fine program (I lost a fair amount of money, but due to my poor decisions, not their policies). I’ve since moved on to talking with a financial advisor through Bank of America, though it’s really more to do with him as a personal recommendation than the bank (he used to be at Merrill Lynch I think, but moved, and my dad just followed him because he was pretty awesome). Since I’m just getting started, I’m going to go ahead and stick with the advisor, at least for the time being.

 
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Not that impatient, I have had some money in the bank for a long time, and I never do anything with it. I have been wanting to invest for a few months, but never set aside the time to get started. This thread gave me the final push to get going, so I figured if I didnt make an account now, I could be sitting around for a few more months. Did quick and dirty research on several online brokers, was a tossup between Scottrade and TD, but I like TD — and I get 30 free days of trades with them (even though its 2 dollars more than scottrade per trade after the first 30 days), but I hope this will give me the motivation to get started on it.

I plan on getting Matt to make actual decisions for me though, because he loses less money than I do.

In fact, in order to make this thread more fun, lets log my investments here! :D

 
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I owuld suggest a good mutual fund, which can get you 10 to 13% per year. Better than using the “blindly throw darts” strategy.

You might want to try investing in Sirius Satellite, though. It is utter garbage right now, but it is dirt cheap and it will either start going up or lose a few more cents per share. Not that I know that much, but hey, I might as well offer my vague advice based on a project I am running for Free Enterprise class.

 
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Haha, damijin, i was just kidding. I think I’ve heard that TD is quite good, though I will back mils’ advice – mutual funds are the way to go if you want a safe, slow-growing investment (though I think the 13% is a little optimistic – a good one will be in the 8% – 12% range for an APY over the long haul). However, they’re never going to get much above 10% on average and you will occasionally lose money in short terms. It’s best for probably no less than 5 years, and better for 50 (I’m using mutuals to set up my retirement fund).

I’d love to see how your investments go, if you’re willing to post some of that information here. And I’m glad to have given you that little extra push to do something with the money. :-D

 
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Meh. The presentation I had showed that, from the year before the great depression, the mutual fund giving the presentation had a growth rate of 13% per year, though it has slowed down and was going around 8~10% as of late.

 
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Who knows what the future holds, especially seeing as how England is becomming more and more financially screwed with each passing day. Of the estate agents i was looking at going with, in one day we got calls to say the 2 had closed down and a further one had merged – this housing dip combined with the recent government payout to the banks does not bode well.

Sorry just me having a little vent about the financial stupidity of my country.

 
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It GREATLY depends on the area. People hear about the Bay Area and assume that California is ridiculously expensive, but if you go inland a bit, you can find housing for 1/3 the price. I’d run a Craigslist search for the area you plan to move to. If you’re living alone, though, I’m assuming that you’ll want an apartment/studio rather than a house. Those are considerably cheaper.

Ahhh ok, I think what I was told was in Bay Area, I’ll look into it.