Good Investments Vol. $5,ooo (Goal orientated need to read)

thanks dirty, I appreciate the info on ROTH. It will be a good Investment to keep on the side, with other investments

Thuglyfe... thats gott to be the most misleading name. BC i wouldnt evne listen to someone with name like that
laugh.gif
and people are making money on there ROTH,and i am sure you are to
eyes.gif
.

I am looking for Mutliple Means of Income, and am just seeing how much NT can benefit to my knowledge...

so if anyone else crosses this...


DROP SOME WISDOM ON YOUR SON!~


Make It a Great Day Family
 
Dirty, so I would have to work in order to start a Roth IRA? I have 30K cash sitting and I dont know what to do with it.
 
I'd find an Edward Jones financial advisor that you like, and contribute to an IRA and invest in some Mutual Funds. Hartford and American would be the twoI'd recommend. However, I might keep it under the mattress until its public news that our economy is in a recession. Once that hits the fan, the marketwill drop drastically and it will be a great time to invest.
 
Originally Posted by DunkNForce

thanks dirty, I appreciate the info on ROTH. It will be a good Investment to keep on the side, with other investments
Click to expand...

1) my numbers were off...I edited my post with the correct #'s

2) Really...if you don't need that 5K...dump it into that Roth at the end of the year. don't even touch it.....nothing beats compounding interest ifyou start early.
Dirty, so I would have to work in order to start a Roth IRA? I have 30K cash sitting and I dont know what to do with it.
yes. you need taxable income in order to contribute to a Roth IRA

as for not knowing what to do with your 30K...the first question you really have to ask yourself is...what is the purpose of that 30K?.
a. spending?
b. savings?
c. emergencies?
d. investing/retirement?

once you have decided that...then you'll be able to decide what you should do with the money
Click to expand...
 
Originally Posted by Dirtylicious

Originally Posted by DunkNForce

thanks dirty, I appreciate the info on ROTH. It will be a good Investment to keep on the side, with other investments
Click to expand...

1) my numbers were off...I edited my post with the correct #'s

2) Really...if you don't need that 5K...dump it into that Roth at the end of the year. don't even touch it.....nothing beats compounding interest if you start early.
Dirty, so I would have to work in order to start a Roth IRA? I have 30K cash sitting and I dont know what to do with it.
Click to expand...
Click to expand...
yes. you need taxable income in order to contribute to a Roth IRA

as for not knowing what to do with your 30K...the first question you really have to ask yourself is...what is the purpose of that 30K?.
a. spending?
b. savings?
c. emergencies?
d. investing/retirement?

once you have decided that...then you'll be able to decide what you should do with the money



I want to invest the 30K but dont know where to start. I dont need it for emergency cause I have emergency cash, car is paid off so no car bills, and noloans to pay off.
 
the safest bet is putting it into a CD right now...go to a bank and inqure about them

if you want to be an oddball, invest in bonds...

Angel
 
GE interest plus is another thing to look into. Rates dropped recently but theyre still above the 3.8% mark. Around September I was getting 4.45%. It'sreally flexible, take money out anytime. Overall makes much more sense than a CD.
 
intrest rates on cds are so low now that they bairly keep up with inflation, + while the fed is lowering rates now, but rates cant stay too low for to long orwe get exessive inflation. thats why long term bonds are a horrible idea now, because when rates go back up, your bonds will decrease substantialy in value.

as far as having 30k to invest it all depends on what you want out of it. if your looking for an additionaly few dollars a month you could buy a closed endfund in the after market or an royalty trust with about a 10% anual dividend paid monthly in which case you would take in 300 per month.

or you could take buy ETFs in an area of the market where you see potential. to take a more conservative approach you could sell some covered calls 6 monthsout, lower your cost basis and limit your downside risk.
 
Originally Posted by funkdoctor73

the safest bet is putting it into a CD right now...go to a bank and inqure about them

if you want to be an oddball, invest in bonds...

Angel
Click to expand...

With the rising ecomonmy cost, CDs are almost worthless, even if you get 7% . I was talking to a Financial Advisor about them and he predicted they areharldy worth the time and money.... Just what i heard
 
Originally Posted by Dan3429

intrest rates on cds are so low now that they bairly keep up with inflation, + while the fed is lowering rates now, but rates cant stay too low for to long or we get exessive inflation. thats why long term bonds are a horrible idea now, because when rates go back up, your bonds will decrease substantialy in value.

as far as having 30k to invest it all depends on what you want out of it. if your looking for an additionaly few dollars a month you could buy a closed end fund in the after market or an royalty trust with about a 10% anual dividend paid monthly in which case you would take in 300 per month.

or you could take buy ETFs in an area of the market where you see potential. to take a more conservative approach you could sell some covered calls 6 months out, lower your cost basis and limit your downside risk.
Click to expand...
Nice First post
pimp.gif
 
Originally Posted by ThuG LyFe

^now THAT is the worst "investment" you can make. but if you want long term investment wouldnt those long term government funds or w/e work? i remember learning about it in hs 3-4 yrs back so my memory's not too clear. another thing is NT is prob the last place i'd ask if i was serious about making an "investment"
Click to expand...

If you don't know about Roth IRAs or think that they are the "worst" investment you can make, you need to hit the books.
 
Haha his name is ThugLyfe, you cant expect much....

Another Investment IDEA: My uncle told me about this about 2 or 3 years ago when we were just talking about college and why to go. He wants me to be a scholarand is a very supportive Family member.
He Gave me a gift card to the school book store for $100
pimp.gif

Anyways He told me, him and 5 or 6 friends, all saved up money one year and got together and after some time had saved up enough to Invest in a house, whichthey bought and rented out.
They eventually worked there way 2 or 3 houses, sold one and split profits and continue to do this. He said it brings in a good steady income that isbeneficial for your or your kids future.

2 to 3 years seemed like a long time to save for me, being 18. Knowing that I will be able to buy anything when i am 40-50 years old is very comforting. Ifanyone else has family or friends or personally do anything liek this, feel free to share....

Think about it, 5-6 friends with $5K could find better profit margains then yourslef with 5K
pimp.gif
 
I'm thinking about just buying stocks from financials that are struggling right now and holding onto them long term.
 
Originally Posted by DunkNForce

Anyways He told me, him and 5 or 6 friends, all saved up money one year and got together and after some time had saved up enough to Invest in a house, whic they bought and rented out.
They eventually worked there way 2 or 3 houses, sold one and split profits and continue to do this. He said it brings in a good steady income that is beneficial for your or your kids future.

2 to 3 years seemed like a long time to save for me, being 18. Knowing that I will be able to buy anything when i am 40-50 years old is very comforting. If anyone else has family or friends or personally do anything liek this, feel free to share....

Think about it, 5-6 friends with $5K could find better profit margains then yourslef with 5K
pimp.gif
Click to expand...

That's a pretty common investment strategy and it's relatively safe, but if you are going to do it with 5 other 18 year olds you should choose themwisely.
 
Originally Posted by Dan3429

intrest rates on cds are so low now that they bairly keep up with inflation, + while the fed is lowering rates now, but rates cant stay too low for to long or we get exessive inflation. thats why long term bonds are a horrible idea now, because when rates go back up, your bonds will decrease substantialy in value.

as far as having 30k to invest it all depends on what you want out of it. if your looking for an additionaly few dollars a month you could buy a closed end fund in the after market or an royalty trust with about a 10% anual dividend paid monthly in which case you would take in 300 per month.

or you could take buy ETFs in an area of the market where you see potential. to take a more conservative approach you could sell some covered calls 6 months out, lower your cost basis and limit your downside risk.
Click to expand...
Great info Dan, is a "closed end fund" and a "royalty trust" the same thing? how do I go about starting this? I too am 18,freshman in college, no job (but plan on getting one when my parents get me a car) and I have around 4k to invest...

Lol its funny how one question turned into Accounting 101 lol
 
I like how people w/ a lil bit of cash to invest don't know what to do with or how to actually make it grow for them.

I know what to do with it, but never have the money to invest.
ohwell.gif


Thanks for the ROTH IRA knowledge Dirty, I will be looking in to that by 09'

What are the penalties for withdrawing money? You get taxed on that amount right?
 
My dad got into buying properties and refurbs...He started out with my Grandmothers house as she was getting to old to maintain it...She moved into anapartment and he bought her house. This was around 4 years ago..Now he has like 22 properties..One of them is a 12 unit apartment complex. He got it with thehelp of loans for like $500,000. The estimated market value on them will surpass the million mark in a couple of years i believe. Its in a low income area, buthe never has a shortage of people looking to rent in case somone moves out. And just a couple of months ago the gov. approached him about leasing 8 of theunits for around 5 years so no matter how hard things get he has money coming in from at least 2/3s of those units. And this is just something he did assupplementary income, he has another main job.
Bottom line is, if you do research, know some people, and make wise desiscions then investing in real estate is the way to go. I used to think him investing inlower income areas was a mistake, but it seems to be ideal for the times we are in now, with the real estate market at an all time low. He doesn't seem tobe suffering, someone is always looking to rent.
 
You must log in or register to reply here.

The ultimate sneaker enthusiast community.

NikeTalk was created as a way of giving back to both the sneaker enthusiast community and to the greater global community of which we are all a part.

NikeTalk is NOT affiliated with Nike Inc. in any way, shape, or form. All opinions expressed herein do not necessarily reflect those of Nike, Inc.

© 1999-2024 NikeTalk.com

Share this page

Back
Top Bottom