*****The Official "Anything About Money" Thread***

My kind of post!

As an Economics major, and lifetime go getter(euphemism for hustler), I never get tired talking about money. I'll be in this post offering tips, etc.
Sittin in my Bimmer....​
 
i can contribute stock tips, and can answer questions about stocks, mutual funds, ETFs, dividend reinvestment plans, and other investments.
for sale: 2001 size 10.5 jordan iii black + cement. worn but wearable. no box or card. nyc meetups only, please. make me an offer.
 
i'm just gonna post what i saved from a thread that was made months ago

Quote:
While this goes into the 30's and beyond, most of us here on NT who are interested in investing are still in our early 20's... so i suggest you pay EXTRA close attention to tips 1, 2, and 4... but 4 especially... anyone who saves can tell you how easy it is if you just save a little here, a little there... i can't stress enough how simple it is for everyone, if you save a hour of your pay per day and put that into a nice ING savings account..

If you guys have any tips, PLEASE, feel free to post them..

Your Early 20s: Drink Less, Save More

Step 1
Timing is everything

Expert: Suze Orman, author of The Road to Wealth, host of The Suze Orman Show
Time is the most important ingredient in any financial-freedom recipe. If you put $100 a month into a Roth IRA or a no-load mutual fund from the age of 25 to 65, with the average rate of return, youll have roughly one million bucks when you retire. If you wait until 35 to start making those $100 payments, youll have only $300,000. Those 10 years of waiting just cost you $700K. If you put money away in your Roth IRA from the age of 18 to 28 and never saved another penny, you would have more at the age of 65 than if you started at 28 and put the same amount of cash away every single year until you were 65.

Step 2
Slaughter your debt

Expert: Maria Bartiromo, anchor of CNBCs Closing Bell
You cant under any circumstance maintain an outstanding credit card balance every month. You have to get out of debt, that is priority one. As a general rule, look at what you owe and pay it down as opposed to signing contracts to consolidate. Why bring new lenders into your life? If you have to get a credit card, get an AmEx, because you have to pay it off every month.

Step 3
Beer-goggle your first house

Expert: Michael Corbett, author of Find It, Fix It, Flip It!
Buy a house thats completely perfect and youre buying at the top of the market. Bad idea. Look for a place that is downright ugly. As long as the home has good bones and a decent layout, you can build value into it. That way you control the market versus the market controlling you. Start small and stay away from interest-only loans, because the markets going down.

Step 4
Make your money work

Expert: David Bach, author of The Automatic Millionaire
Whether you work at a coffee shop or an investment bank, you need to save at least one hour of your income per day, which works out to 12.5 percent of your annual income. And thats for a middle-class guy. If you want to get rich, youve got to put away at least two hours a day of salary. Dont let your cash languish in a checking account. Take it a step further and open a savings account with an online bank, like emigrantdirect.com or ingdirect.com. They offer up to five times the interest rates of traditional bank accounts. There are two ways to get rich. Its really simple. Keep some of what you make, make more, and keep some of what you make.

2530: Start Raking It In

Step 5
Get the right gig

Expert: David Bach, author of The Automatic Millionaire
Dont get stuck in a career where youre underpaid. You need to be extremely aggressive through your 20s about your income and quite candid about asking for raises. If the average raise is about four percent, then youre just going to stay even with inflation, which means youre going to be broke. Shoot for a 20 percent raise each year. At that rate you more than double your income every five years. But first make sure youre on the right boat. I have a lot of friends who have been working for 15 years in the wrong place, and they are poor. The sector that people make the most money in is money. Financial services are a guaranteed growth industry.

Step 6
Upgrade every two years

Expert: Michael Corbett, author of Find It, Fix It, Flip It!
If you buy a home for $700K and you have a $600K mortgage, by the end of the 30- year term of your loan you have paid out $1.2 million. Instead, take advantage of the primary resident tax break, which allows you to take up to $250K in profit, capital-gains-tax-free, on the sale of your home as long as you live in it for at least two years. Then roll the profits into the next one.

Step 7
Build your bankroll

Expert: Dylan Ratigan, anchor of CNBCs On the Money
You have to get into the market. Open an online brokerage account and set up an automatic monthly deposit from your paycheck. During your early 20s you need to put away at least as much as youre spending at the bar on Fridays. For each year after you hit 25, multiply it. So by the time youre 30, you should be depositing five times your happy hour tab.

Step 8
Stop paying for the ladies

Expert: Suze Orman, author of The Road to Wealth, host of The Suze Orman Show
One of the worst habits men suffer from is this perception that they always have to pay for everything. Its not like 50 years ago when only men worked. Men also think theyve got to impress people with a gift. Theyre all junk. Women dont care. If youre only paying the minimum credit card payments or failing to pay into your 401(k) at least up to your employer match, write the lady a letter and tell her how much you love her and screw the gift. I ran a survey of 1,400 people on what matters most to men and women. Men care about how a woman kisses. Women care about what men do with their money.

Your 30s: Earn It, Dont Burn It

Step 9
Know why you buy

Expert: Dylan Ratigan, anchor of CNBCs On the Money
Know why you believe what you believe. If someone asks you why you like a stock and you cant answer, dont buy it. You generally shouldnt buy individual stocks. Only buy individual stock if you actually know something about the company, which is almost never. Instead, buy ETFs, exchange traded funds, which are basically baskets of stocks or mutual funds that trade just like stocks. If you like oil, the ETF ticker for oil is USO. You want to buy Chinese companies because you think China is the future, its FXI. Want to buy the Dow? Its DIA. If you randomly buy stocks based on the ticker or because somebody told you it was hot, you will lose your money.

Step 10
Hedge your biggest bet

Expert: David Bach, author of The Automatic Millionaire
Divorce is probably the single biggest thing that hurts guys in their 30s and 40s. If youre wealthy or make a significantly greater amount of money than the woman you are dating, do not get married without a prenup, and do not get talked into a prenup that expires in five to 10 years. Sign an ironclad agreement with no expiration date. And dont marry strippers.

Step 11
Use the Starbucks effect

Expert: Michael Corbett, author of Find It, Fix It, Flip It!
If youre looking to pick up investment properties, buy in a transitional neighborhood. To tell the difference between a truly bad area and a neighborhood on the upswing, look for a new Starbucks. They spend enormous amounts of money researching developing areas. If they think they can sell $5 lattes, I can promise you that neighborhood is on its way up.

Step 12
Never, ever buy a bar

Expert: Larry Bennett, professor of entrepreneurial practice, Syracuse Universitys Whitman School of Management
If you want to buy or start your own business, pick up any trade magazine or look for opportunities on sites like startupjournal.com and inc.com. For anyone with romantic aspirations, buying a bar is one of the worst investments you can make. Their 70 percent failure rate made the restaurant equipment channel one of eBays first dedicated subdivisions. Im not a big fan of franchises, either. You can clear $50,000 to $60,000, but thats not real wealth creation. Instead, focus on servicing other small- and medium-size businesses. You can make a lot more money that way.
TEAMNEWYORKKNICKS​
Click to expand...
 
I need some schooling for this online money making..I'm starting fresh so any tips would help
GOOOOOOOOOONIES​
You Gettin at us???chance is slimmer than that chick in Calvin Klein pantses​
 
If I have about $1500 and I'm 20, where should I put this money? The cash is pretty "expendable" since I'm in college right now and I don't really need the cash since I also already have a pretty well paying job for a college gig. I'm looking for bigger returns than the 5-6% from online banks. I'm thinking about investing into some index funds. My accounting professor recommended me to buy some bonds instead. What do you guys think?
Real eyes realize real lies!​
 
Quote:
Martin & Co., and Deceptive5 seem to be very business savy


"Moguls for 500"

"what is Martin & Co.?"

DING DING DING


Yeah I'm in here ask away.

Whether its the ins and outs of apparel, tax advantages of investing in real estate, overseas investments, 401K VS Roth IRA, whatever, I'll try to answer or give advice...
I like you. You remind me of myself when I was young and stupid.
Want a guaranteed 20% on your money? PM me -1k minimum-
Money is like a second language to me​
Click to expand...
 
I'm going to be starting my first semester in college this fall and i'm really unsure of a major. I understand I have time to decide but I really want to get into a finance/economics geared major. I took a college level accounting course during my senior year and kind of enjoyed it. What are some majors that aren't so :x
sick.gif
and can get me into a profitable career?
 
Whats a good site to start a Roth IRA?
For Sale: sz 9.5-10.5 Jordans - II Melo, XI Concords, XII (Melo & Taxi), XIV (Wht/red), XIX (Wht/Gry), XX (Stealth, 2K4 Laser Kobes, QS Bday LBJ II
AIM: ady2glude7o7
 
can someone school me on ING? like if i put $1000 in the account and say i need $400 a couple weeks later, can i just transfer that money back into my checking account?
PATRIOTS​
 
Start an IRA as soon as you possibly can. I turn 16 in a week and the moment I turn 16 I will be starting my IRA, with about 20% of my paycheck being immediately deposited into it. If I keep it up I'll be retiring early! Woot woot!
Anyone that says money didn't change them, just hasn't made enough.
Team AM FAM
www.jumpmansneakers.com​
 
Much Respected, I have heard alotta people recommending bonds but i haven't personally looked into them. Considering everyone recommends them however, i would assume they are the way to go. Like you I am 20yrs old and have managed to save up some change ~$8816 last time i checked. I usually keep 500 in my checking and put the rest in a CD because the way i think of it, if i aint using it, why not have it earn interest--no matter how small it is, rather than have it open to me where i can be tempted into buying jordans, computers, and a whole bunch of other things that are really unessential to me right now. I want to start investing in stocks but i want to find out everything about investing before i get into it.

I am currently reading Robert Kiyosaki's "Guide to Investing--What the rich invest in, that the poor and middle class do not!"
It's a pretty insightful book...a bit on the boring side but helpful nonetheless--so if you are interested in investing like myself, take a look at it.

Now on to the Booty and Boobies Appreciation Thread :evil:
devil.gif
:evil:
devil.gif
:evil:
devil.gif
:evil:
devil.gif
:evil:
devil.gif
 
^^ Bonds are for people who are 92 and are afraid of anything else. Stocks are also risky unless a pro breaks down to you the things that traders a Morgan Stanley make 10 Mill a year doing.

"I am currently reading Robert Kiyosaki's "Guide to Investing--What the rich invest in, that the poor and middle class do not!"


Although the principals are correct, he's a fraud. He even says his business is teaching people how to get rich, WHEN HE WAS NEVER RICH BEFORE HIS BOOKS.

heres the link for who I use for for the person asking about 401k+IRAs

www.tdameritrade.com/offe...ment.html?



Oh and peep the sig-
I like you. You remind me of myself when I was young and stupid.
Want a guaranteed 20% on your money? PM me -1k minimum-
Money is like a second language to me​
 
veteranrookie, how do you go about just throwing your money into a CD whenever you want? Like is it easy? What is the process?
Real eyes realize real lies!​
 
^Yes it is, you just go to a bank and tell them, sign a few things, hand over a check/transfer the funds and wha-la
I like you. You remind me of myself when I was young and stupid.
Want a guaranteed 20% on your money? PM me -1k minimum-
Money is like a second language to me​
 
Quote:
Bonds are for people who are 92 and are afraid of anything else. Stocks are also risky unless a pro breaks down to you the things that traders a Morgan Stanley make 10 Mill a year doing.
Real eyes realize real lies!​
Click to expand...
 
for CD's and savings, check bankrate.commartin & co.WANTED: Supreme Dunk Low SB BLACK, any condition, DS AJ XI Concords & Space Jams, AJ IV blk/red any condition, all in sz 10/10.5
 
Quote:
Pitman (and anyone else that wants to talk) hit me up when you have time, eegbele@uh.edu.
Good Looks.

Here's something my friend just linked me to, a 7-Day Money Challenge, because I'm always spending money recklessly throughout the week.

Quote:
Get ready in three steps
If you'd like to get a handle on your spending habits, all it takes is a small notepad and a bit of determination.

Step 1: Figure out how much cash you need to cover a week's worth of gas, groceries, entertainment, dinner on the town, breakfast at McDonald's, books, music CDs, cosmetics, gifts -- the whole gamut of casual expenses.

Step 2: Be honest. Don't deliberately overestimate so that you're sure to have enough cash to get through the week.

Step 3: Set the anticipated amount aside and don't use debit or credit cards.

If you get through the week with the cash set aside, congratulations! If you need to make a trip to the ATM, it's OK. Review your purchases and see where you could have trimmed costs. This is about developing a mind-set where you seriously consider daily cash expenditures. It can lead to more money in your savings account and long-term financial plans that stay on track.

If you take the challenge, let us know how you did. If you had to replenish your cash, what did you learn about your spending habits? E-mail us at editors@bankrate.com.
TEAM-AF-ONETFLNYC
FLYWALKER
BDU FAMILYF/S: AF1 sz.8-8.5 (Portlands, BKs, blk/blue, wht/blk)
Click to expand...
Click to expand...
 
Yo it seems like we got some people on here who know what they're talking about.

These posts usually dont last though.

My question is, HOW do we (lets get a group on NT) get into a HEDGE fund.

THAT'S where the money is folks.

How much start up capital..etc.

Someone on NT has to know or have worked w/ people on the fund.

Anyone else going to look into Blackstones IPO?
ICE Blue X's on ebay RIGHT now!
 
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