Author Topic: Tired of being a dirt-poor dirtperson. How do I become a rich-ass SKRILLAKILLA?? (Read 2389 times)

Howard Alan Treesong · « **on:** July 02, 2012, 05:13:03 PM »

Looking for investing advice.

I have a small nest egg I should do something with besides keep in a low-yield savings account. I'm not looking to get rich quick - I'm looking to build a responsible foundation for my family's financial future. Being stupid poor for most of my 20s means that I don't know JACK SHIT about personal finances, sadly.

More than advice ("Buy low! Sell high!") I am looking for meta-advice - guidance towards what websites and books can help put me on the right path of wrapping my head around our nation's insane financial markets.

MrAngryFace · « **Reply #1 on:** July 02, 2012, 05:15:29 PM »

Dont do what I do- buy the things I want. Im getting better about that though. REALLY! *drives off in mustang*

Howard Alan Treesong · « **Reply #2 on:** July 02, 2012, 05:19:20 PM »

"Mustangs are cool, and classic Mustangs are cooler. So if I keep this car for 30 years - then sell it - I'll retire like a king!"

MrAngryFace · « **Reply #3 on:** July 02, 2012, 05:20:17 PM »

haha, mostly I need to just keep on with the current trend of not buying videogames except like once in a while.

Phoenix Dark · « **Reply #4 on:** July 02, 2012, 05:31:04 PM »

I'd suggest the Motley Fool
http://www.fool.com/

Lots of emphasis on more long term, less fancy investment opportunities. For instance instead of investing directly into Apple, they would recommend investing in the companies that manufacture iPod/iPhone/etc touch screens.

T234 · « **Reply #5 on:** July 02, 2012, 09:13:53 PM »

Lend it to me. I'll triple it in five weeks no matter how much it is. No bullshit or sarcasm at all.

Human Snorenado · « **Reply #6 on:** July 02, 2012, 09:30:10 PM »

If it's less than 250k (FDIC insures up to that amount) I would keep it liquid for the next 6-12 months and then invest it into something boring and reliable like alcohol or gun company stocks. Not kidding either.

Akala · « **Reply #7 on:** July 02, 2012, 09:30:26 PM »

Quote from: Phoenix Dark on July 02, 2012, 05:31:04 PM

I'd suggest the Motley Fool
http://www.fool.com/

Lots of emphasis on more long term, less fancy investment opportunities. For instance instead of investing directly into Apple, they would recommend investing in the companies that manufacture iPod/iPhone/etc touch screens.

I find the motley fool gives horrible advice, but I'm kinda cherry-picking sectors. try something fun. for a month, pretend to invest 10k in stocks they recommend and see how you do. hell, file it, see how it's doing in a year!

spoiler (click to show/hide)

extreme backfire potential

[close]

I probably should invest more. ALMOST bought a fuckton of Ford stock when it was a buck.

Boogie · « **Reply #8 on:** July 02, 2012, 09:40:37 PM »

Quote from: T234 on July 02, 2012, 09:13:53 PM

Lend it to me. I'll triple it in five weeks no matter how much it is. No bullshit or sarcasm at all.

And how are you going to accomplish that?

Phoenix Dark · « **Reply #9 on:** July 02, 2012, 09:45:29 PM »

Let it go Boogie

Boogie · « **Reply #10 on:** July 02, 2012, 09:48:57 PM »

Quote from: Phoenix Dark on July 02, 2012, 09:45:29 PM

Let it go Boogie

Now now, let the man answer the question, PD.

Human Snorenado · « **Reply #11 on:** July 02, 2012, 09:51:48 PM »

It's ok Boogie, I'm pretty sure none of it will be happening in your jurisdiction.

T234 · « **Reply #12 on:** July 02, 2012, 09:52:40 PM »

Mr. Gundam · « **Reply #13 on:** July 02, 2012, 11:31:34 PM »

We just recently set up a ROTH IRA account through our financial planner dude.

Momo · « **Reply #14 on:** July 03, 2012, 12:14:12 AM »

Eh, I wont be the best of help here. I have had multiple (internet) income sources since forever and basically lucked into a business analyst job after a few years of hard intern/graft.

chronovore · « **Reply #15 on:** July 03, 2012, 12:57:39 AM »

Quote from: Creepy Old Guy on July 02, 2012, 09:30:10 PM

If it's less than 250k (FDIC insures up to that amount) I would keep it liquid for the next 6-12 months and then invest it into something boring and reliable like alcohol or gun company stocks. Not kidding either.

I am interested in your ideas, and would like to subscribe to your newsletter.

Bebpo · « **Reply #16 on:** July 03, 2012, 01:03:40 AM »

I don't know what to do with my money either. Coke & Strippers I suppose'

...actually I'm thinking about buying some 5-6% interest 10 year bonds. But then WITH ALL THESE FREAKING CITIES DECLARING BANKRUPTCY IN CALIFORNIA I'm kind of hesitant. WTF MAMMOTH HOW ARE YOU BANKRUPT!?!?

spoiler (click to show/hide)

I don't have a whole lot of cash to invest though, I'm bad at keeping lifestyle costs down. When I stop spending money on videogames, I spend it all on socializing instead. Maybe one day when I got that dual income couple thing going.

[close]

Howard Alan Treesong · « **Reply #17 on:** July 03, 2012, 01:08:31 AM »

OOC why would you wait 6-12 months...so the market has time to adjust to ObummerCare?

Human Snorenado · « **Reply #18 on:** July 03, 2012, 01:11:00 AM »

Once you start viewing money as a resource and not as a reward to be pissed away you know you've truly grown up. $:-\$

It wasn't a fun day for me, and probably not for anyone else either I'm willing to bet.

chronovore- if you have some liquid cash right now I think it would be crazy to invest it into anything before the US election and the eurozone crisis have played themselves out. If Romney wins, the only thing you want to invest in is Blackwater stock or whatever private contractor will be handing the impending Iranian war.

Human Snorenado · « **Reply #19 on:** July 03, 2012, 01:12:21 AM »

Quote from: Howard Alan Treesong on July 03, 2012, 01:08:31 AM

OOC why would you wait 6-12 months...so the market has time to adjust to ObummerCare?

Because of the eurozone crisis and any domestic economic shitstorm. It would suck to sink your cash into something and have it turn out to be worth 1/10th the next week or something.

edit- honestly, investing in insurance providers is probably not a bad idea. Don't invest in any medical supply companies.

MrAngryFace · « **Reply #20 on:** July 03, 2012, 01:27:12 AM »

I have some 401k stuff n junk..stocks. Dunno whats goin on there. I suspect when it comes to me and money- once a retail employee, always a retail employee. Money is awesome, but I dont have a head for it.

Bebpo · « **Reply #21 on:** July 03, 2012, 01:33:26 AM »

At worst we can all pool it together and buy a Bore house in Tennessee with a Barn that can fit all the members if the economy collapses and we need a place to stay.

MrAngryFace · « **Reply #22 on:** July 03, 2012, 01:40:07 AM »

we'll have plenty of guns between us

Human Snorenado · « **Reply #23 on:** July 03, 2012, 01:50:19 AM »

We can all farm items to sell in Diablo 3! And we can throw Arvie in the rape dumpster! This plan is great.

chronovore · « **Reply #24 on:** July 03, 2012, 02:03:17 AM »

Quote from: Creepy Old Guy on July 03, 2012, 01:11:00 AM

Once you start viewing money as a resource and not as a reward to be pissed away you know you've truly grown up. $:-\$

It wasn't a fun day for me, and probably not for anyone else either I'm willing to bet.

chronovore- if you have some liquid cash right now I think it would be crazy to invest it into anything before the US election and the eurozone crisis have played themselves out. If Romney wins, the only thing you want to invest in is Blackwater stock or whatever private contractor will be handing the impending Iranian war.

Gotcha. Thanks. I feel better educated, but less happy. $:-\$

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Author Topic: Tired of being a dirt-poor dirtperson. How do I become a rich-ass SKRILLAKILLA?? (Read 2389 times)