Investments

[WRXtranceformed]

Decided on the HSBC high yield savings for now, 3.5%. It's one of the highest I could find right now that is FDIC protected and that doesn't require like a 10k initial investment.

[D_Eclipse9916]

-Roth IRA since I was 15, made sure to max it out every year
-Mutual funds and money markets for 3-5 year investments
-No-penalty cds for highly liquid assets

Ole, id really like to talk to you about really pushing my money, I havent been all that active in earning to my potential.

[WRXtranceformed]

Decided to start throwing my commissions and all of the paltry sums from AMSOIL / Mothers whoring into this account until I can qualify for a higher-yielding solution, or have enough to put a down payment on a commercial property or another home as an investment (for whenever I can afford two mortgages ha). As long as the real estate market favors the buyer, I'm gonna keep my sights set on picking up another property

[Evan]

over the long term the real estate market only averages 3%

there are much better places to put your money if you're investing, unless of course it brings you some other form of value like a vacation home, or you can get it paid for by renters

[WRXtranceformed]

over the long term the real estate market only averages 3%

there are much better places to put your money if you're investing, unless of course it brings you some other form of value like a vacation home, or you can get it paid for by renters

That's the plan 8)

[WRXtranceformed]

Hopefully you're a blue chip long term investor right now.

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What's going on with Lehman, Merrill Lynch and what's soon to come with AIG is a total disaster. I'm curious to see the outcome of all of this.

[Evan]

i sure am glad im not in the market....

[Apoc]

My 401k is getting downright whored but it's for the long term.... right? right? :?

[WRXtranceformed]

People at work were giving me shit for not contributing to another 401k. My buddy was like "I've made 100k in my 401k here"... I was like "Oh really? What's it at right now?" He kinda shook his head ha ha.

[Ole]

You are being foolish for not cotributing. Tax deferral, company matching (free money) and a long term investment (20+ years not 1-2 years). Who do you think is going to fund your retirement? The lottery? If you do win, good for you but if you don't I guess the gov't will have a plan for you....don't count on SS though.

[WRXtranceformed]

You are being foolish for not cotributing. Tax deferral, company matching (free money) and a long term investment (20+ years not 1-2 years). Who do you think is going to fund your retirement? The lottery? If you do win, good for you but if you don't I guess the gov't will have a plan for you....don't count on SS though.

You get taxed too heavily with those types of investments. I've already been over this before, I think it was in this thread. I know you're a financial advisor or something or another, but that route is not ideal nor desirable to me.

Real estate investment is how I'm planning to fund my retirement. There are ways around capitol gains with that kind of investing. There's simply no way around paying taxes when you pull money out of your 401k. And I'm sorry, I don't see a 401k solely making me a millionaire, whereas it's easily achievable to earn 7 figures purely through (emphasis on SMART) real estate investing.

I like the idea of Roth IRAs so I'll try to start some of those with what, if any, residual income I have over the years as a supplement for retirement. I've been putting money away for a down payment on another home in the future when my income can support two mortgages, but when our family sells our 100 acre farm outside of Leesburg in the forseeable future I will be pushing strongly to reinvest the money from it into real estate in this area of slow, steady growth.

[D_Eclipse9916]

Why did Lehman come as a shock for so many people, its been going on for weeks about how they were desperate for a buyer. Although I did expect the govt to bail them out or the South Koreans to buy it. What did come as a surprise was Merill Lynch.

On a side note, gas is now 95 bucks a barrel....yay, now american oil companies get over yourself on the speculation that Ike was going to do shit to your rigs and bring the prices back in line.

[Apoc]

You get taxed too heavily with those types of investments.

It's the same tax rate, regardless of income method... but okay.

[WRXtranceformed]

You get taxed too heavily with those types of investments.

It's the same tax rate, regardless of income method... but okay.

But okay :!:

I don't think you bothered to read the rest of my post

[Apoc]

I did but I don't really agree with it.

FWIW, most of "my families wealth building" has been real estate investments so it's not like I'm biased against them. I just think diversification of investment vehicle is always a good thing.

[.RJ]

yay, now american oil companies get over yourself on the speculation that Ike was going to do shit to your rigs and bring the prices back in line.

You know the rigs and refineries have been shut down for several days now right?

[Ginger]

Hi, my name is Futures Market, I'm important.

[D_Eclipse9916]

yay, now american oil companies get over yourself on the speculation that Ike was going to do shit to your rigs and bring the prices back in line.

You know the rigs and refineries have been shut down for several days now right?

Yeah but oil was at an alltime supply high, what a week or two prior? I think they can handle a few days. The main point I was making was I like how gas prices were quickly to climb, but even though gas has dropped by almost 55 dollars a barrel....im still paying the same high price. :lol:

[.RJ]

im still paying the same high price. :lol:

Then stop buying it.

Gas goes to $5/gallon all across the southeast and people are LINING UP OUT INTO THE STREET TO BUY IT.

I mean... fuck. Might as well keep it at $5/gallon.

[Ginger]

RJ's got causation a little mixed up

His underlying point is right, though, gas won't come down until usage goes down. Usage is high, there are sketchy expectations of future availability for a whole host of reasons, and people are clamoring hand over fist to get at it. What do you think's going to happen to the price?