Shouldn't you be doing something else more productive than just sitting on here for 2 hours?

>>8946085
Maybe he works for wallstreet - so no.

Why can't you get a real job?

Is it true, and if so, what's the name, that there's a program that if you start investing in for retirement in your early 20s, it pays off immensely more than if you started it, say, in your 30s.

What should I spend $17 on tomorrow?

>>8946093
It's true. It's called a SAVINGS ACCOUNT

>>8946093

Compound interest.

Are CDs worth it?

What financial benefits can one accrue from a two hour AMA on 4chan?

>>8946102

>saving money at the bank

You are a giant faggot.

>>8946085
Work's over.

>>8946090
I have a real job. I do a great service to society.

>>8946093
Any debt instrument is fine for this purpose. Invest in bonds. Ten years of compound interest will make a hell of a difference.

what are your feelings on I-bonds?

What kind of returns can I expect in 10 years by hiding money in a ziploc bag beneath my mattress.

i filed twice for bankrupcy and i can't get a secured credit card or a loan, what do?

those kidneys sure are working right, but i lost my credit

How do you actually get compounded interest?

My bank (Bank of America) just has a shitty savings account that you have to keep over $300. I don't think there's any kind of interest on that.

Also, should I even bother saving? Right now I'm just working a shitty part-time job to get through college, and I could really use the $25 they're taking out of it every month so I can reach $300. I'm studying Civil Engineering, so I'll have a nice job at some point and that $300 will be chump change. If I'm going to be rich, why bother?

>>8946113
Not if you have less than five figures.

>>8946116
None. We finance-types aren't as obsessed with money as you Goyim think. I'm just bored.

Lets say I had 7 million dollars, would it be possible to open an account place that money in it and just live out of the interest without having to deposit anything over the whole year?

>>8946143

More than you can expect from the banks when that massive inflation kick the economy in the balls.

I have $15,000 sitting in the bank right now getting less than 1% interest, what would be the best thing to do with it seeing as I probably won't need it for another year or so?

Could you just give general tips, clarifications and need-to-know shit?

>>8946159
Goyim?


I dub this troll thread trollthreadia! Home of trolls and troll-kin.

In general, how bad is going through 4 years on mainly loans? Will I be completely chained when I graduate or is it not really that bad?

And we aren't talking about some high priced private university or some shitty community college either.

>>8946169

Invest in securities.

>>8946159
Are you actually Jewish?

Jewbro here

I'm 19, have zero credit, have like 5k in a checking account doing nothing, have a credit card. How does I build credit.

How do I survive when the economy inevitably collapses?

>>8946102
noretard

Mutual funds.

How do I pick good stocks to invest in both the short term (intra-day) and long term (years)?

Long term isnt so hard, but how do these daytraders pick the stocks to play with.

>>8946072
I have a question for you good sir.

I'm going to be going to college full time+, so I'm planning on not working. Do you think I can plausibility support myself on the Stafford loan?

Apartments in my area go for about $500/mo. I can expect to get about $9000 a year from the loans.

Mr. Financial Adviser,

I have no debt. Would you recommend that I trade all my federal reserve notes for goods with real value? Or should I just go on hoping that my savings won't be obliterated by inflation?

>>8946186

Assuming you're on a government loan, you can pay back your loan at a reasonable rate with low interest.

Looking to invest between $10,000-$15,000 to have a nice return in 10 years. What would you say would be my best option? If possible, I will be adding to this principle during that time (say, at least $2000 a year)

Thanks for being bored :)

>>8946138
Very safe. Not good for investing if you have a small amount though.

>>8946143
Approximately -3% per year.

>>8946145
You're screwed with the banks. Your only hope is to find a sympathetic loan shark.

>>8946155
You need to develop a safety now. Don't take any future event as certain.

>>8946160
Depends on the interest rate on your account and the cost of living in your area.

Is it even worth having a savings account?

>>8946227

Not OP, but I can tell you that you can count on inflation bricking you in the face if you keep your money in there.

>>8946259
What else do you do with it? You can't keep it all in your house.

I have a few million NOK sitting overseas. Would now be a good time to exchange that for USD and bring it home? Right now I'm leaning towards leaving it be.

Are things in the US going to get better, or should I get out while I can?

>>8946241
>Depends on the interest rate on your account and the cost of living in your area.

Don't give him that. You could easily earn $500 000+/year interest rather safely.

>>8946169
Buy up some bonds. Stocks are not worth it if you're only investing for a year.

>>8946172
No. This is an ask-me thread, not a teach-you thread.

>>8946186
It really depends on your salary when you graduate. I suggest living well below your means and paying them off asap instead of taking your time. The penalties for early payment will almost certainly be less than the interest you'll have to pay if you stall.

>>8946189
Shalom! Yes, I'm Jewish.

>>8946196
Get some small recurring expenses like a cell-phone plan or a magazine subscription. The key is to build some credit history without building a mountain of debt.

>>8946197
It won't. Relax. Stop listening to Glenn Beck.

>>8946210
Most day traders use computer algorithms to value equities over the short term. Unless you have access to this kind of technology AND a brokerage account with super-low commissions and fast execution, day trading is not for you.

are there any loopholes to get out of paying death tax on inheritance?
Are there any ways to get out of paying income tax? I don't care if it is legal I just want to know if it works

>>8946336

How do I get these computer algos for daytrading?
Brokerage with fast exec and low coms isn't hard to find.

>>8946362
>are there any loopholes to get out of paying death tax on inheritance?
lrn2trusts

>Are there any ways to get out of paying income tax?
Don't earn any money.

i'm in a huge amount of credit card debt. about 13,000. just got unemployed. wut do?

What's the best way to improve my credit? I have two 100 dollar defaults. I can afford them, but they go off record in 2 years. Should I pay them now? I just got a credit card (joint with my my mom co-signing). What's the best way to max out my credit rating using this card? Just spend THE MAX LIMIT every month and pay it off every month?

HOW DOES I GET CREDIT?

My current score is about 580 or something. But I have those two defaults I mentioned. And another one from sprint for 300...but FUCK SPRINT I WILL NEVER PAY YOU.\

WAT DO?

>>8946362

No. Inheritance used to be given as gifts, but with the Gift Tax the government's put in place, you can't even do that anymore.

Also, there's no way of avoiding income tax unless you're getting paid under the table. Of course, if you're getting paid in cash for a legitimate job, chances are your workplace is pretty unscrupulous.

>>8946384
>Don't earn any money.
thanks dude I hadn't thought of that. Otherwise though, are there any loopholes like laundering money or some shit? If i never file any tax returns, don't have a bank account, and don't take out a credit card what is the chance the IRS will catch me?

>>8946213
Depends if three grand if enough to buy food, clothes, transportation and entertainment for you. It certainly wasn't enough for me when I was in university.

>>8946227
Inflation won't be a problem for another two or three years. Hold off until then.

>>8946231
10 years eh? You need to allocate a substantial portion to stocks then. Use fundamental analysis to buy up good companies. If you find shitters, short them.

>>8946256
Yeah. Do it.

>>8946291
Leave it for about a year.

>>8946306
Seriously? No, the recession isn't quite over but things are far better than during early 2009.

>>8946333
It really depends *how* comfortably he wants to live.

hey OP, do you ever bet on sports? the way i see it, investing on stocks and bonds takes too much time. with sports betting i can get nice returns within hours. the only downside of this is that it's a little more risky, and you'll need a large amount of principle to win big. but once you get going, then you are rollin'

>>8946362
Death tax: If the assets are in a foreign bank account, you can probably get away with not declaring them. As for income tax, this is unavoidable as most foreign companies employing American workers cooperate with the IRS.

>>8946384

Speaking of trusts, I just found something amusing when I searched for "trust tax."

It was a search result named "Abusive Trust Tax Evasion Schemes" by none other than our friendly IRS.gov.

Oh, how I laughed.

IT'S MY MONEY AND I WANT IT NOW

how old are you and what was your path to your current position? (what you studied, which school you went to etc, if it matters at all)

>>8946451
Well, the IRS doesn't pursue anyone unless they own more than about 1.5 million. So don't earn much money and the IRS won't come knocking.

> The penalties for early payment

lol excuse me what the fuck are you saying

>>8946513
>they *OWE* more than about 1.5 million

sorry, typo.

>>8946368
You find a Quant and pay him several thousand dollars to set up a server network in your house. Alternatively, there are shitty programs that cost around $100 but these are grossly inadequate for automated day trading.

>>8946406
Find work now. Even if it involves joining the army, just do it. Credit card debt is not the kind to put off paying, and declaring bankruptcy will make it a thousand times harder to get a loan in the future.

>>8946437
Don't max out the card but feel free to use it liberally as long as you can cover the monthly payments. Don't default on anything, just pay your bloody creditors and let it go.

>>8946467
It's fine as long as it's legal where you live and the money you're betting is not coming out of your savings or real investments.

What are the consequences of the IRS hiring about 50,000 extra employees to the people who have actual jobs?

Just here to say I approve. My current co-op summer job is working as an assistant to a broker at BMO Nesbitt Burns. My plan is to get licensed this summer, finish off my degree (Financial Management + minor in econ), try to fit in a CFA while at school and then become a fund manager. At around 40 my dad will retire and I'll take his book off him, hopefully making seven figures for the majority of my life.

The financial industry is unbelievable, you get paid so much for doing so little.

>>8946498
I'm 27 and I earned a double degree in economics and finance from the University of Toronto.

>>8946513
This is bs. The taxman doesn't overlook you just because you're not a millionaire.

>>8946515
Are you serious? Many banks and creditors charge a fee for paying off a loan early because they lose money on interest.

is it possible to open a bank account in a fake name? How much documentation do you need to open a bank account?

There may or may not be a warrant out for my arrest

What degree do you hold?

When GS finally kicks the support out from gold with its shorting, how much cash will they have pillaged from Europeans middle class?

>>8946561

I don't mean automated day trading..

A lot of people do it manually but I don't know how they decide what to trade on each day. I know about the MA/EMA/Vol/RSI/Pivots though so I guess that is some indicator.

It seems like they have a list of those they like to use a lot though. Some days it is shipping, other days it is the banks etc etc. Do you think this is true or do they cover the whole market and have some other detection/decision method to pick the stocks?

>>8946561
>>8946437 HERE

So I should pay all the defaults and shit? But ATT just got sued and lost for charging people "early termination fees" and that's what the sprint thing is. The phone sucked and I payed what I owed for the minutes I used bu tnot for the termination fee.

But the other two defaults.... just pay them? I can afford it.


And the card is for 750 a month... how much do I spend? I make money now, I can afford 750 a month.

>>8946620
You'll need at least two pieces of ID, often including a SSN for brokerage accounts.

how did you get your job? was it through by knowing a person in the company or did you have to apply? and what is your current salary?

>>8946641
Look, the people who don't do automated day trading are the ones who make the automated traders wealthy. Sure, people get lucky breaks but it's generally impossible to apply either technical or fundamental analysis over a 24-hour period.

I let five credit cards, two cell service, and two bank accounts go to collections.
Am I fucked?

>>8946647
Pay everything, even Sprint. Until a judge orders otherwise, you legally owe them money. I guess you could max it out if you want but it's pointless in my opinion. You can still develop credit history without needing to buy fucking everything on credit then paying the high interest later.

>>8946664
I applied with a CV and resume like every other human being. I earn about $126k per year, not including bonuses and stock options.

>>8946703
Yes. Yes, you are.

fuckedblox

>>8946619
>This is bs. The taxman doesn't overlook you just because you're not a millionaire.

It was a typo. Its true that the IRS doesn't pursue you if you don't own them more than about 1.5 million, because it is not cost effective to pursue less than that amount.

I'm a golddigger, however I'm not a jewish princess. How can I find a potential catch? Where would I be safe off finding a guy who is guaranteed to be making buck?

I have my shit covered but some dude apparently (mistakenly?) gave my number to a debt collection agency. They have been constantly increasing the level of intensity and threat in the voicemail messages (I don't pick up because it says their number, and I didn't know how to handle it at first), to the point where it is getting funny.
How can I use this for lulz against the agency or the dipshit who gave them my cell number?

>>8946732
If it helps they were all smalltime.
Largest CC was $1000 I think.

any recommendations on retirement planning? my job offers 401k, and will match funds up to 4%. are 401ks transferable, or should i do a 401k through my bank or something?

>>8946747
fuck I did it again. OWE them. fuck fuck fuck.

How much maths is involved with your job?

>>8946763
Yeah, but the fact that there was FIVE of them looks incredibly bad. You basically have no hope of getting a mortgage for a very long time.

>>8946761
Call them and sort things out. I don't know why you would prolong a mistake like that for "lulz"

I have 3 debts over 1k in collections at the moment, and i've started receiving those 'pay half and we'll just call it even' offers. if i do that and start standard credit-building measures (phone line, internet, shit like that) how long will it take me to repair the damage? i made some stupid choices a couple years ago (was 18 and retarded, apparently).

i'm coming in to $40k tax-free soon (i have the cheque in front of me right now, just need to sit with a financial advisor, lol) so i could potentially pay all of it off in one shot very easily. would this be able to get me a credit card, possibly? i could then put the internet/phone on that and pay them all off every month. i know credit bureaus (or whatever) reevaluate credit something like every 6 months.

I got a citibank student credit card in December. So far I've been putting around 400 dollars on it every month and paying it off in full every time.

Is this building credit?

I have twenty dollars on hand right now.

How do I turn this into $40 million in a week?

I... uh... owe some people some money, and uh... they won't be very happy if I don't give it to them.

i have 250000 in a sep ira. Is it possible to split my sep ira into two different sep ira accounts? What forms would I have to fill out?

>>8946728
>>8946647
Should I dispute them to get a lower amount? ALL of the defaults have gone to COLLECTION/LAWYERS. Should I try to pay less? If I pay them will it go off my credit history? What happens to it?

>>8946774
Go through your bank for your 401k. If you're planning for retirement, I recommend an investment vehicle called housing derivatives. These are very safe futures whose value is based on someone's mortgage debt. The return is almost guaranteed and they've skyrocketed in popularity in the last three years.

>>8946850
IS THIS A JOKE? WHAT?

>>8946827

Make a DIY time machine with some parts laying around in your place.

Go back in time and invest $20 in Microsoft during its IPO.

Are TFSA's worth it? I'm considering shutting mine down, since I only contribute $25 a month, and usually every few months I go into it cause I need the cash (I make next to shit).

I don't spend almost no money at all because my parents pay the bills, so I just save almost all of my salary.
I think just saving could be a waste.
What should I do with the money instead?

>>8946815
Yes! If you can pay it off right now, do it. Rebuilding your credit rating will be super-easy once you're debt free. After that, you could get a card from basically anyone.

>>8946818
Yes, of course. Keep doing this.

>>8946827
You buy a lottery ticket or two.

>>8946836
I believe you can but I'm not familiar with the intimate mechanics of it since I live in Canada. Email your bank to find out what forms you would need exactly.

>>8946837
Just pay it now without dispute. Doing so will boost your credit almost instantly albeit by a small amount.

>>8946907

Mutual fund.

>>8946850
is this different from the recent collapse of the housing market? are you betting on people failing to pay their mortgages?

>>8946893
Keep it. You can roll over all unused contribution room indefinitely as well as the value of any amount you withdraw. This will definitely be worth having in a decade or two, especially if you decide to invest but don't want to pay capital gains or dividends taxes.

>>8946922
ok, i thought so. i thought that since it's 3 different sources of debt all in collections, it might hurt me more, but it's good to know that i can build it up (relatively) quickly after paying them off.

would it hurt me significantly to take the 'pay half, call the debt off' option they're offering? if it means another year of building credit, i'm ok with that, i'm only 21.

>>8946815 here

>>8946907
Allocate 70% of your annual income to gold futures and put the rest under your mattress.

>>8946941
No, definitely not. I assure you these are safe investments that having nothing to do with betting on foreclosures.

>>8946941

Not OP, but I'm pretty sure someone posted that as a joke.

>>8946956
It will delay things significantly, probably at least three years. I don't recommend taking their offer.

>>8946973

and I think this is a joke too, gold is at an all time high right now, only a moron would invest in it today. It might go up for a while longer but it's a gamble.

>>8947047
Listen bud. I have a degree in economics (do you???) and I'm telling you that gold is going to skyrocket in the next five years. As the US pulls out of recession and their currency strengthens against the foreign market, the price of gold will also increase because it is directly related to the value of the American dollar.

I have about $8000 invested in a combination of tech and mining on the TSX and I was wondering how you think markets will do by year's end?

Also, how exactly does one short a stock? Are they something an average investor is well equipped in doing?

>>8947075

>I have a degree in economics

>Implying that means anything

>>8947075
What the fuck are you smoking? Gold has always been driven by fear. The current gold bubble is supported entirely by the expectation of inflation and economic failure caused by all the USD rolling off the presses and debt.

>>8947075

http://www.economist.com/blogs/buttonwood/2009/11/gold_the_next_bubble

The Economist > you

>>8947075
>>As the US pulls out of recession and their currency strengthens against the foreign market, the price of gold will also increase because it is directly related to the value of the American dollar.
>> Wikipedia: Investors generally buy gold as a hedge or safe haven against any economic, political, social or currency-based crises. These crises include investment market declines, burgeoning national debt, currency failure, inflation, war and social unrest.

Sorry man, you are fucking retarded. This is first year shit.

>>8947075

Also,

>economy pulls out of the recession
>in the next five years

It's nice to dream, isn't it?

>>8947089
"Seriously"? As you wish. Mining is guaranteed to end up in the shitter because of the strong CAD at the moment. Remember that Canada's mining market is primarily driven by exports. As long as foreign currencies remain weak (USD because of the recession and EUR because of the Greek debt), our trade surplus in this industry will shrink. Gold in particular will most likely collapse before the year is over. Right now it's in an unsustainable bubble.

Tech stocks are less easy to predict as these vary widely according to trends in the field. Stay away from them unless you're intimately acquainted with the industry.

If you want a good safe return in a 1-year timespan, I suggest sticking with utility stocks.

>>8947075

US pulls out of recession -> less fear -> price of gold decreases.

>>8947132
Troll'd.

>>8947172
Troll'd.

>>8947185
Troll'd.

>>The price of gold will also increase because it is directly related to the value of the American dollar.
>>Gold in particular will most likely collapse before the year is over. Right now it's in an unsustainable bubble.

I admit it, you got me, 10/10.

i went to a college for 2 years then got kicked out (wasn't my fault, long story). i have about $10k in student debt which i've been paying back $80 a month. i start another school starting this september for next 4 years. i'll most likely have to take out another student loan, which means i won't have to pay back while i'm still doing my study. should i continue to pay back the $80/month or start paying back when everything's done? my job is pretty shitty so i have no luxury of spending.

>>8947089
Sorry, forgot part 2. Shorting is only available to investors who put up some kind of leverage, as you can lose an infinite amount of money in theory.

>>8947255
I don't usually recommend this, but you ought to put off payment on the first loan. If you can get away with not paying for a few years, take that opportunity to build some savings so you can pay off a bigger chunk of it than $80/month when the time comes.

>>8947212

Thank you for that analysis, I rather have the uncomfortable truth than the comfortable lie.

The recent troubles have mean I am currently down about $300. Do you forsee any bounceback in the near future where I can leave with a slightly heavier purse? Or should I just slog it out for a couple of years?

>>8947348
The only immediate hope, really, is the BRICK. Depending on where these folks choose to import their metals from in the next little while, you may have an opportunity to sell and get out. I'd suggest getting rid of some of those shares now though to cut your future losses.

>>8947409

I have to imagine oil is going to do well, emerging markets + first world recovery (slow as it may be).

>>8947442
Oil is iffy. Right now it's near a 6-month low so if you're gonna buy, do it now.

>>8947497
*3-month low.

>>8947409

The Brick? You mean the sofa store?

>>8947533
Oh dear God. Well, it looks like my time is up. Goodnight /r9k/!

Hello, I'm a Spelling Advisor and I teach Financial 'Advisers' how to fucking spell. You have about 2 minutes with me.

>>8947553
Would you agree that both ways of spelling are acceptable?

I want to retire in under 10 years.
Which financial instruments would it be best to learn about to achieve this?

>>8947609
Stock options on tulip plantations.

>>8947636
reli?
I estimate I'll need $3 - 5 million to retire.
I currently have $10k.

>>8947670
Yeah bro. Right now tulips are all the rage and you can easily double your investment in a month if you choose the right ones.

>>8947700
Can you suggest any good books or websites to learn about trading stock options?

>>8947749
http://www.investopedia.com/?viewed=1
http://www.amazon.com/dp/076455364X/?tag=ddcomp-20

What does your job mainly consist of? Would you still do it for, say, 70% pay (ie do you love it, or does it just pay well)?

>>8947700

Dohohohoho. People won't buy into that tulip craze after that fiasco in 18th century.

>>8947773
Thanks, bro.
Are candlestick charts the way to go?

>>8947825
The main responsibility of my job is to advise my clients on investing, insurance, and debt. The pay is very nice and I think I would find a new job if I had to take a 30% pay cut.

>>8947865
Absolutely. The key is to "zoom in" as close as possible to a target day or even a target hour. Looking any further back than that is confusing and a waste of your time.

Hello, OP!

So I'm a typical broke idiot, live in a small midwest town. No jobs or anything, but I do computer work to earn spending money.

I'm heading off to college in New York next semester. It's about 45k a year, but I have $30,000 scholarship/grant and will be taking out loans to cover the rest. I'll also try to find a job there (it's a big city, shouldn't be *too* bad, right?)

After my first year they'll give me a full scholarship, but I'd have to pay for housing, books, food, all that.

Am I just being an idiot? 15 grand debt, just in the first year? And if I don't get a job, I will have a hard time trying to pay for books, clothes, etc. But after that first year it's all free.

Pre-medfag btw, not some useless liberal arts degree.

>>8947904
what school are you going to?

after the whole goldman sachs issue, i dont feel secure investing in wall street for my 401k. is there something more stable/less shady i can do to save for retirement? should i start buying bonds?

>>8947904
It really depends on how much you have now and how much expect to earn in a year. A good rule is that your debt-to-assets ratio should not exceed 10%, even though not a single person in the world respects this guideline.

hey OP. im about three months away from paying off all my debt. after that i will be able to save $1000 a fortnight. what should i do with it?

I owed a $700 in financial aid to a bank.I've paid $300 a few months back and now it has inflated to $1000.
Is there a way to get back into school without paying this?

>>8947947
Right now I have nothing. Maybe $200 total. But no debt (yet) either. And I have no idea how much I'll be making once I find a job there.

>>8947943
Don't let a bunch of media gibberish spoil your impression of a great company. They're only being investigated and the verdict hasn't even been delivered yet. Pulling out of ALL equities just because of your emotional impression of one single investment bank would be a huge mistake.

How do you react when people call him Warren "Buff-ay"?

>>8947981
>goldman sachs
>knowingly sold shit stocks
>great company

i believe i know who you work for

>>8947955
Build a 6-month safety net based on the cost of living in your area. Keep this money highly liquid (a high-interest savings account is great for this). Next, you might want to make sure all your insurance bases are covered. Finally, you can begin building a pile to use for investing. I recommend at least 5k before going into stocks.

Are you a jew? Is it hard? Why do you hate america?

How did you get interested in finance? Is it a passion of yours or do you just like that shiny, shiny gold? It seems dismally boring to me.

I have lost ~70K investing in teh market over the last dozen years. I finally decided last November that I have had enough...investing is just another in a list of thing that I fail hard at. I now have 200K in CDs and MMAs making 1%. (this doesn't include 401K which is still in funds)
wat do?

>>8947961
I don't know. It depends on whether you can get another loan. If you have poor credit and an outstanding debt, your bank most likely won't give you another one.

>>8947962
You might as well take the loan as long as you're confident about getting a job when you move.

>>8948002
Who cares? It's not my name they're fucking up.

>>8948021
I believe you know squat about what they're actually being investigated for.

cheers op.

IM A LICENSED THERAPIST. ASK MY NOTHING. WORKS TOO STRESSFUL. BEGINNING A NEW JORB SOON.

I HAVE 118k IN DEBT. AND I AM GOING TO BE MAKING MORE MONEY. DO I SAVE MONEY OR PAY OFF DEBT FIRST?

<3

I'm 14, should I start investing in shit now?

I work at McDonalds by the way.

>>8948047
Nah, I love dat gold. Economics is my real passion.

>>8948066
Nothing at this point. May I ask, what did you invest in?

>>8948102
Both. The amount you put into savings vs. the amount you use to pay debt should be a function of your debt-to-assets ratio.

>>8948112
Got any savings? If you've got at least 5k in a bank somewhere, you're all set to do buy up a few stocks.

How does a typically meeting with a client go. Also, do you have a secretary/PA? What does your office look like? What kinda pen do you use?

>Goldman Sachs
>Financial Adviser
>Jewish

lol

I just started working a minimum wage job.
I used to dabble in the stock market with my dads money, I'd earn, he'd lose. etc.

I have about $300 now and I don't really need it for anything and I'd end up wasting it on booze.

Should I use it to learn2penny stocks
or buy a few real stocks?
HALP

>>8948150
yeah. i'm going to live as cheaply as possible and stack as much onto my loans as possible. my dad helped me calculate it out and it should take me like 30 months or something for me to pay off all of that debt @ 2280/payment a month with a number of extra 4400/3400 payments. I honestly can't remember. It's all designed to come out of my savings.

<3

My father is also a CFA, with Edward Jones. Can I take him seriously?

Do you bother keeping up to date with the market and the broader economic situation? Got any sites/newspapers you frequent to help you stay on top of things?

>>8948178
>How does a typically meeting with a client go.
They enter my office. I answer the same bloody questions over and over. They thank me and leave.

>do you have a secretary/PA
Yep. I share her with five other guys though.

>What does your office look like?
Leather chair. Private bathroom. Big windows with a lovely view of the parking lot.

>What kinda pen do you use?
http://www.staples.ca/ENG/Catalog/cat_sku.asp?CatIds=&webid=574683&affixedcode=WW

investment banker here. financial advisers are dickbags who know nothing more than a bystander on the street, but they'll charge you 3-5% in trail per annum so that you can have the privilege of them selling you underperforming products that they selected on the basis of which institution had the prettiest charts, provided the best lunch, and (most importantly) provides the highest trail fee.

ITT: OP doesn't have a fucking clue

Hold on. You told the guy with 3 debts in collections that it was easy to rebuild once he paid them off, but you told me that five meant I was fucked.
Which is it?

>>8947904
Medical loans don't fucking matter at all dude.
You'll probably pay them off within 5 years of finishing school without even trying or sacrificing.

>>8948203
"Dabbling" in penny stocks is definitely the way to go, especially if you're a non-professional who's inclined to alcoholism.

>>8948240
Yes.

>>8948243
A prefer to look at raw data as soon as it comes out. Once the information reaches the mainstream media, it's been abridged, analyzed and abused so much that it's pretty much useless.

>>8948114
to name a few WorldCom, Excite@Home (bought when it was just a broadband company), Enron, Lucent, 15K into a tech fund (prebubble pop), 15K into a waponese stock fund back in the 90s. Washington Mutual was the latest disaster (was so awesome for so long and great dividends but I held it right to the end.)
My only real capital "W" winners over that time were Cymer and Veco. And even at that I sold Veco back in November (for a nice profit) at $28 and it has topped $50 since then. FML.

>>8948295
Out of curiosity what sources does this raw data come from?

I am extremely curious now.

>>8948295
How risky is penny stocks?
Am I better off saving my shit until I have a decent amount of money saved up?
I usually pick decent stocks, but either my dad doesn't buy them or sells them early.

Any protips at penny stocks? to avoid getting rickrolled by some scam?

>>8946072
hey, I am trust fund kid.

Because of this, my college education, car, etc will all be paid for in cash. My parents have given me a debit card and add large amounts of cash to it.

I have no credit history.

Is there any way that I can attach my credit rating to my parents credit ratings so that I can get better rates on mortgages, etc later in life?

>>8948253
You're not an investment banker.

>>8948258
You have failed at sorting through my troll posts and my legit advice.

>>8948295
Remember me?

Alice.

Thought we would have been pretty interesting together.

Wish things would have been different.

>>8948331
Oh, and whats the best deal as far as investing companies go.

I was using Scottrade before due to lack of monthly fee, but $7 fee per trade and $500 minimum initial deposit seems harsh for penny stocks and my situation.

>>8948334
Have them cosign, or buy shit on credit cards and pay it off with your debt card.

Or finance a car.

>>8948339

i most certainly am, and i'm quite willing to troll teh fuck out of you with terms that you won't understand to demonstrate how little you know of listed/unlisted equity, bank debt, fixed income, etc.

where shall we start?

>>8948367
start your own thread fucktard
fucktardblox

>>8948367
>>listed/unlisted equity, bank debt, fixed income, etc.

i would have listed then 1st b/c doz dont sound so convincehn brah.

fail troll is miserably depress

>>8948329
I get my economic data comes from Stats Canada and Industry Canada. I get my market data from directly from the big exchanges in real time. I get my fundamentals from quarterly reports published by corporations.

>>8948331
Don't buy them unless you're able to motivate a bunch of idiots to buy them after you.

>>8948334
Not if you're no longer a minor.

>>8948413
How to motivate idiots to buy after you?
Post all over any even semi-related forum?

>>8948361
there has to be a better way.

I dont want my parents to have to be directly involved in every facet of my financial life, and i doubt that they want even to be.

>>8948413
I am currently a minor.

How can I do it?

>>8948399
>>8948403

pearls before swine. enjoy saving money for retirement only to see about 5 over-paid fucktards, most of whom won't even have tertiary qualifications, mismanage your investments and take a clip at each step along the way. when i first dealt with fund managers, i thought it appalling to see how much money they piss away on bids; now i see that you people deserve it.

>>8948367
Then quit arguing like a fucking baby and ask me something.

>>8948413
http://www.statcan.gc.ca/start-debut-eng.html

Stats Canada? ^

How is the market data delivered to you from the big exchanges? Online? Raw unbridled binary feed? What software do you use?

>>8948460

i've nothing to ask you. just letting the plebs know that you don't provide anything that they couldn't learn themselves with google and (dare i say it) wikipedia/investopedia.

>>8948426
Absolutely. The key is develop a long-term relationship with people. You can do this by developing a mailing list or a blog. Just make sure you sell everything at the top of the market before they get wise.

>>8948493
I'll think about it.
Thanks nig.

>>8948484
>>you don't provide anything that they couldn't learn themselves with google

That may be a bit harsh. You haven't given us anything to discount him other than what you've just said. Ya sound butthurt.

So - if you are a investment banker. Whom do you do work for? What do you advise for someone who has 118,000$ worth of student loan debt and is currently coming onto a 30 month plan of repayment of said debt. Any advice? How should I, if at all, invest a net income of 175k/12 months?

>>8948465
I use a web interface, not installed software.

>>8948484
I write you off as a troll then because of your failure to prove you know jack shit.

At what age dows life insurance become worth it?

>>8948525
>>web interface

??? Can you share examples with me? Links?

Starting to call bullshit -_-;'''''

>>8948544
What don't you understand? I log into my brokerage account online and they give me live quotes because I'm a paying customer.

>>8948527
Never, if you have no dependents. Otherwise, I'd say as soon as your wife drops a baby. Don't gamble on probabilities when you have children.

>>8948569
So what you're saying is that you work for a Brokerage firm who has access to live/and or up-to-date feed? Such as stock numbers? What else?

How can one such as myself obtain access to raw data like you profess to receive?

Also aside stock numbers - what other figures are you fed thru said acct?

Predictions for year end on global markets? Are things going to get worst before they start crawling back to normal?

>>8948589
If you want real-time data, you gotta pay more. Simple as that.

>>8948612
Ambiguous posts are ambiguous.

Go to hell OP. Thx for not asking any of my questions <3

>>8948595
Stocks are at quite a high right now actually. You can expect growth to slow, but you won't see too many declines this year.

>>8948626
***ANSWERING
FFFFFFFFF

>>8948626
You clearly don't understand how brokerage accounts work. Are you 12 or something? Your questions are poorly worded and difficult to interpret, and they imply that you know very little about what you're asking me.

Do you believe that China has reached its peak on manufacturing? I don't think it'll burst like many people have told me but I just am uncertain about things getting better than it is now.

>>8948645

biggest bullshit thread in quite a while. OP can't even answer his simple probes.

wow dude u fail hard

Unemployment and finances.

What are the odds the govt will come after you for unemployment fraud.

Guy who wants to retire here.

Do you know if this broker is any good?

>>8948687
Fail!
This broker...
http://www.optionsxpress.com/

Greetings man, I am currently using the direct investment savings account that the government recently opened. It's nice not to pay capital gains tax but the $30 transfer price is a bitch and a half, especially when you're limited to $10,000 max deposits.

If I was interested in going to a different internet trading site with lower transfer fees what kind of sites would you recommend? And how exactly does this work are my stocks transferred over to the new account?

>>8948645
>>brokerage accounts

Of course I don't know how brokerage accounts work. Which is why I've been asking questions like:

>>what other figures are you fed thru said acct?

and:

>>How can one such as myself obtain access to raw data like you profess to receive?

Does it help if I spoon feed you the question: "Are these accounts exclusive to FA's?"

Then we get into what is a FA and a Broker. Are you both? Etc.

>>8948676

I second this.

My questions aren't difficult to directly answer.

o me. feeding the trolls ;3

>>8948670
China can't sustain their recent growth rates indefinitely, but they're not quite at their manufacturing peak yet. If they can expand their markets and sell their shitty consumer goods in places other than the USA, they might experience another growth wave. It all depends on how much competition they face from even cheaper labour sources like southeast Asia.

>>8946093
You're probably looking at a Roth IRA. The interest on those accounts are tax-free, but you're limited in the amount of deposits you can make annually, depending on your age relative to the "magic age" of 55, at which point you can start withdrawing all that money you deposited. So get one started today!

Not OP btw, just an anon with an econ major and a wealth of personal finance experience.

>>8948755
yea OP is a faggot wasting your time by answering in vague statements

>>8948677
Pretty high, depending on how long you've been doing this.

>>8948698
Scam alert

>>8948701
I recommend Scotia iTRADE (eTRADE in the USA). Super-cheap commissions and rapid transfer of capital and equities from other accounts.

>>8946136
Well, the fact that the first thing this "financial adviser" thought of wasn't a Roth makes me question this faggot's credentials and skill at his job.

>>8946143
at current interest rates, a real value of -5% per year. Based on inflation rates.

>>8948739
No. You don't need to be a professional FA to open a brokerage account. As long as you have a SSN and some capital, any Joe Bloe can waltz into a branch and open one.

>How can one such as myself obtain access to raw data like you profess to receive?

If you're willing to pay higher fees, your broker will provide you with real-time quotes.

>>8948800

final question mate, does it cost money to transfer holdings from one account to another?

>>8948817
I believe that's -3%, good sir.

>>8948828
Of course. The specific amount will vary from broker to broker.

>>8946256
idiot.

dopeblox

>>8948838

hey OP, how come u wont answer >>8948739 questions?

i too am curious to know what sort of data u receive from said brokerage accounts. list something other than stock #'s.

thx

>>8946160
Probably. Lots of factors involved here, though, such as how much you spend, where you invest, the aggressiveness of your portfolio, and average account interest rates vs. inflation rates.

>>8946168
You're an idiot. Inflation doesn't directly cause your bank account balance to decline. It is a measure of the increased average value of a dollar over past values. Inflation is a natural and necessary part of monetary policy, and when managed properly, can only help an economy's (and, subsequently, your) financial health.

>>8948838

Thank you, cheers

I don't suppose you have any final advice on sectors to look into for investment between 1-2 years?

This has been really fun guys but for the third time this month, /r9k/ has been fed a bunch of bs by a bored high-school student. G'day!

>>8948864

o u 4chan.

>>8948864
hahahahaha
I lol'd

>>8946187
No. Fuck you, that's bullshit. securities are unstable right now, and investing only in securities could turn out very poorly for you. A much safer and smarter option for your money right now is a mutual fund through your bank or other financial institution.

>>8946196
use your card. But only for purchases you can afford. Then pay it off before the end of each month. This builds credit history, while allowing you to avoid the debt trap of high interest rates on credit cards.

>>8946197
Buy a shotgun, lots of canned goods, and water. Fortify your home so you can keep others out. Because rest assured, if the economy fails, society as we know it will end.

So how does it feel being a worthless parasite, corrupting and destabilizing the economy with speculation on reshuffling reshuffled debt which didn't exist in the first place?

>>I'm a Hebrew

I see. Usury flows through your semitic veins.

>>8948949
Oh come on now. You fail to see the vital role the finance community plays in an advanced society. Recessions come and go with time; it's foolish to be angry at an economic phenomenon.

I wish moot would make a /$/ board so so bad. I love this shit, and not just for the money, it genuinely fascinates me. I think I'm going to minor in Economics because of this thread.

>>8949018
That would quickly degenerate into pump and dump schemes.

>>8948949
Wow, way2racist. I think liberals like you were against that kind of stuff.

>>8947103
As far as knowing shit about gold futures is concerned, you're right. This guy is questionable.

>>8949091
*thought

fuck-you-robot-blox

>>8949097
I couldn't agree more. Please see:

>>8948864

>>8948800
Are you sure it's a scam?
Forbes rates them as one of the top online brokers.
http://www.forbes.com/bow/b2c/review.jhtml?id=7386

For the guy who wants trading data, the best you are gonna get is yahoo finance and similar. To be honest, that's really all you need unless you want to daytrade (which is a bad idea).

I work at BMO and we get real time price feeds through thompson one and bloomberg, both services are in the range of 3000$ a person per month.

>>8949189 Cont...
When it comes to advice about investing, always be cautious. At the moment that means careful equities and bonds.

If you are considering a fund, be careful. The guys who sell them get paid a lot to shovel them on customers. If you really want a fund I recommend Dynamic Canadian Bond or Dynamic Power Value. Both are very highly rated and run by a manager with an incredible track record. The series A version funnels about 2% a year into the banks hands, but you can get them with lower expense ratios if you force the guy to sell you the I or F series (I forget which one). Note that it will be hard, since the guy doesnt get paid if you get the better version.

>>8949189
>>8949223
lol at this guy trying to clean up OP's shit. what's the point really, it just 4chan

>>8949223 cont...
In a sideways market, which is what we are likely to see for quite some time, income is always nice. Even if your stocks are going up and down, if they can maintain dividends of 4-6% you are getting paid.

I am actually in Canada so my recommendations probably aren't so good for most of you. Don't invest in Canada when your dollar is so weak.

Canadian banks are pretty fairly valued so there won't be any deals, but they do pay steady yield. Dynamic Strategic Income is well positioned for this economy and again is run by michale mchugh who has a very good track record of protecting wealth (he specializes in fixed income). I hate recommending only dynamic, but their funds are good performers compared to most of the shit out there.

If you dont like funds, I'm a fan of REITs since they are paying ~8%. Some insurance firms are reasonable buys again, power financial is looking nice. Again, all of this is Canada.

>>8948835
Sorry? No, actually, the latest CPI-indexed inflation rate was hovering right around 4.5% in the US. Maybe in your bullshit country it's 3%, but that's only because your version of the Fed targets interest rates.

>>8949311
Also, interest rates are very hard to gauge since they are generally doctored and will vary based on your lifestyle.

In general, the richer you are the more inflation affects what you buy. Forbes did an "Extremely Wealthy Inflation Index" which was around 15% a year for all the fancy wine and boats before the 2008 crash.

>>8948864
Not really like you trolled anyone or anything.
At best you gave decent advice and got an "I'll consider it response."
Basically like /adv/.

>>8948860
>Inflation is a natural and necessary part of monetary policy, and when managed properly, can only help an economy's (and, subsequently, your) financial health.
hahaohwow.jpg

>>8949982
Sorry you don't understand the fundamentals of monetary policy. It doesn't make me wrong, it just makes you stupid. Sure, it's bad if you keep all your money hidden under your bed, but you're guaranteed no return if your money is there anyway.

A principle tenet of monetary policy is the constant-money-growth rule, which states that the Fed should keep money growing at a constant rate, to avoid unnecessary fluctuations in the market, which are usually caused by money flow problems.

lrn2econ, then insult me with your stupid 4chan witticisms.