Mr. Pickles
Footballguy
Don't worry, it's a write off. You just write it off.Eminence said:
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Whatever guys, thread open. (2 Viewers)
- Thread starter Eminence
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Sarnoff
Footballguy
ShaHBucks
Footballguy
No fkn kidding http://forums.footballguys.com/forum/index.php?showtopic=702185&view=findpost&p=16438845Good thing a big shot like you can evaide cap gains taxes at least.Eminence said:
You should really cash out and put some money aside for emergencies like everyone here has said since page one. Make min payments on your cards for the time being and save up a 500-1000 bucks. Your tax money should definitely go here. If something unforeseen happends, all of your plans mean nothing. If you lost your job tommorow do you want to wait weeks for your cash? Take it one step at a time.
Then pay off your credit cards. Think: You're making whatever interest from stocks but visa is collecting interest from you. Think of how you'd feel with 1000 in cash and no credit card payments...
You wanted to get your feet wet, and that's fine. It's the only way to see how this works. You shouldn't take all of your investment money and pick single stocks. If you want to have fun with penny stocks then go ahead. Just do it on the side with 5-10% of the money deemed for investing and don't really expect to gain much from it besides experience. You just shouldn't be doing this until you consider maxing out your pre-tax options. Once you save some cash and pay off your debt, try to get into pre-tax savings and tax free savings like a 401k. Or mutual funds. It's literally the only way to start off with a diverse portfolio.
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How does one get banned from Amazon.com ?
Premier
Footballguy
Mario Kart
Footballguy
Premier
Footballguy
1) you know tons of people with money who do this. You don't have any money. You're like 9 grand over the poverty line.Eminence said:
2) the main gripe is not that you wouldn't have it paid off. It's that you can't afford it to begin with because you are piss ### broke.
3) you don't need a nest egg right now. You don't even have a nest. You're not retiring for like 45 more years, if ever. Why are you worried about this? You can't even afford an apartment. WHY DO YOU THINK YOU NEED A NEST EGG
Don't get me wrong, saving money at an early age is great and admirable, but buying a house and trash stocks is dumb. Especially the house. The house is extraordinarily dumb. You just need to pitch that idea in the dumpster.
Gawain
Footballguy
The sad thing is he probably has more motivation than 90% of the 23-year-old, community college attendee bracket.
DocHolliday
Footballguy
Too bad his motivation is taking him in the wrong direction. He would be better off if he was less motivated. He would be better off letting his paychecks "pile" up in the bank while he sat around playing video games or drinking beer. He does not pay rent or have to buy food at mommy's house. He is going to piss away his paychecks chasing his endless schemes.
Mario Kart
Footballguy
Update on my current investing. Talked with "my" financial adviser today. I have a couple of accounts setup at Edward Jones for my nephew and niece. At the current rate, I'm investing ~$200 or so a year for them, by the time they turn 18 (one is 7, one is 2) their accounts will be in the 11k - 14k range. If I add more to the principal, then they go up higher but for now that is where I am at with those accounts.
Discussed my plans as far as maxing out the Roth vs. individual dividend stocks vs. stocks. I did not give him an update of the OP but was asking for myself. His "advisement" was to go the Roth route... but in what? He had a couple dividend stocks picked out that might be good to get. I had been looking at Coke or Pepsi, Proctor & Gamble or Johnson & Johnson, oil stocks. All were good in his mind, can't go wrong, but he thought I should pick 2, 3 at the most of those, and split the max over those.
I've been doing some minor research on this thing called The Internet and bought into a dividend fund instead. My Roth is currently with Vanguard that my aunt setup for me a while back but the money as been sitting and growing. Not much but I had not put any additional funds into it and no other funds were put in. I am not touching this money for some time, hopefully, and will use this as a retirement account.
My aunt purchased the Windsor II Fund (VWNFX) which is where that money is. In my attempt to diversify a little bit and not simply add money into that fund, a couple of minutes ago I bought into the Dividend Growth Fund (VDIGX). Yeah, the stock is near the high point but I'm looking long term here so the dividends and reinvestment are what I am after.
Is this method sexy? No, but it will get the job done. 5 year ave returns are 17.74% and 16.57%, respectively. I pulled the trigger on the fund instead of the individual stocks because I'm not ready to play that game. The money I put down is in the 2013 Roth as well. So, I still have $5,500 in 2014 to invest if I want. If Apple falls, I might buy into that especially before their new products come out in September. But, if I have to put money back into these funds, I'd be okay with that as well.
VDIGX:
http://www.marketwatch.com/investing/fund/vdigx
https://www.google.com/finance?q=vdigx&ei=jEvnUrD4Jqay6AHTYg
VWNFX:
http://www.marketwatch.com/investing/fund/vwnfx
https://www.google.com/finance?q=VWNFX&ei=7UvnUsjfAqyy6wGmdQ
Discussed my plans as far as maxing out the Roth vs. individual dividend stocks vs. stocks. I did not give him an update of the OP but was asking for myself. His "advisement" was to go the Roth route... but in what? He had a couple dividend stocks picked out that might be good to get. I had been looking at Coke or Pepsi, Proctor & Gamble or Johnson & Johnson, oil stocks. All were good in his mind, can't go wrong, but he thought I should pick 2, 3 at the most of those, and split the max over those.
I've been doing some minor research on this thing called The Internet and bought into a dividend fund instead. My Roth is currently with Vanguard that my aunt setup for me a while back but the money as been sitting and growing. Not much but I had not put any additional funds into it and no other funds were put in. I am not touching this money for some time, hopefully, and will use this as a retirement account.
My aunt purchased the Windsor II Fund (VWNFX) which is where that money is. In my attempt to diversify a little bit and not simply add money into that fund, a couple of minutes ago I bought into the Dividend Growth Fund (VDIGX). Yeah, the stock is near the high point but I'm looking long term here so the dividends and reinvestment are what I am after.
Is this method sexy? No, but it will get the job done. 5 year ave returns are 17.74% and 16.57%, respectively. I pulled the trigger on the fund instead of the individual stocks because I'm not ready to play that game. The money I put down is in the 2013 Roth as well. So, I still have $5,500 in 2014 to invest if I want. If Apple falls, I might buy into that especially before their new products come out in September. But, if I have to put money back into these funds, I'd be okay with that as well.
VDIGX:
http://www.marketwatch.com/investing/fund/vdigx
https://www.google.com/finance?q=vdigx&ei=jEvnUrD4Jqay6AHTYg
VWNFX:
http://www.marketwatch.com/investing/fund/vwnfx
https://www.google.com/finance?q=VWNFX&ei=7UvnUsjfAqyy6wGmdQ
The Kerminator
Footballguy
Mystery Achiever
Footballguy
My 2 cents on diversification: Mutual funds are, by nature, diversified, so the only further diversification needed is by style. The two you bought are similar enough that only one is needed. You would be better diversified by swapping one for a smaller company funds like the Mid-Cap Index or Mid- Cap Growth.
However, most of the stocks you mentioned are consumer staples stocks. In building a diversified portfolio of individual stocks, you would want to ultimately add some in another sector. These also pay decent dividends: CVX, XOM,MRK, PFE, VZ, WFC, WM. Most, if not all, of these stocks, though, are probably in at least one of the two funds you bought.
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TheIronSheik
SUPER ELITE UPPER TIER
DocHolliday
Footballguy
Nicely done.
I still think your time would be better served earning a paycheck. You need to pay your CCs then worry about investing.
Witz
Footballguy
If my math is correct:
Bought 880 shares at .064 = 56.32 (plus 7.95 transaction fee)
Sold 880 shares at .087 = 76.56 (plus 7.95 transaction fee)
Profit on shares of 20.24 less 15.90 transaction fees = $4.34 profit
$0.045 x 761 = $34.24 + $7.95 ($42.19)
$0.064 x 880 = $56.32 + $7.95 ($56.32)
$98.51
$.083 x 1,561 = $129.56 - $7.95
$121.61
$121.61 - $98.51 =
$23.10 PROFIT
Witz
Footballguy
Without bumping the larger thread where you detailed your financial breakdown - you noted you make $23,000 a year (assuming 11.25 an hour since you said you made $90 in 8 hours which would put what you earn at $23,400).
Is this before or after taxes were withheld? If before, your calculations of what money you'll have to save/spend are going to need to be modified significantly.
Is this before or after taxes were withheld? If before, your calculations of what money you'll have to save/spend are going to need to be modified significantly.
Witz
Footballguy
Premier
Footballguy
Witz
Footballguy
Premier
Footballguy
Still, 20 bucks. Pointless. Can someone bump his classic threads? Are they still around? I don't know what to look for. Shiek has to have them bookmarked.
SacramentoBob
Footballguy
Sarnoff
Footballguy
SacramentoBob
Footballguy
SacramentoBob
Footballguy
Why is that funny? This thread is about my fund. My % increase is through the roof, sorry I don't have seed money but if you're just going to mock me I'll just as soon have this thread deleted.
Maybe you guys are missing the point of this thread? You guys trying to make money or not?
Maybe you guys are missing the point of this thread? You guys trying to make money or not?
I think when you buy HEMP stock at $8/transaction, that's a long-term hold. Let it sweat for awhile.
Leeroy Jenkins
Footballguy
Obviously it's chump change and he doesn't really know what he's doing, but at least he profited instead of losing his small investment. He can't afford to lose money really, but if he adjusts his goals and attitude it could be a good learning thing for him.
I own no stock, so I'm not one to talk.
I own no stock, so I'm not one to talk.
Premier
Footballguy
I think it's possible to strategically reenter at $0.078 - 0.081 and make more profits.
Ignoratio Elenchi
Footballguy
I really want to believe this is real, but it can't be.
SacramentoBob
Footballguy
Eminence, show us proof that you bought and sold the HEMP stocks. A few screenshots will suffice. 
siffoin
Footballguy
If you want a diversified buy and hold portfolio just buy the SPY. Since 2009 it beats the AAII Aggressive Model Portfolio 119% gains vs. 90.1% gains.
Sarnoff
Footballguy
Captain Quinoa
Footballguy
My son lost a tooth yesterday. Instead of a dollar from the tooth fairy, I gave him 8 shares of weed stock. College=paid.
Don't post in my threads ever again. I just picked a stock that increased 84% in a weeks time and you're laughing at me, you're a fool. You're not wanted.
jamny
Footballguy
He did show a screenshot of the purchase yesterdayEminence, show us proof that you bought and sold the HEMP stocks. A few screenshots will suffice.
Don't post in my threads ever again. I just picked a stock that increased 84% in a weeks time and you're laughing at me, you're a fool. You're not wanted.
jamny
Footballguy
Don't post in my threads ever again. I just picked a stock that increased 84% in a weeks time and you're laughing at me, you're a fool. You're not wanted.
another HARD delete on the horizon here? Keep me posted.
SacramentoBob
Footballguy
@ the signature.
Witz
Footballguy
Giving you the benefit of the doubt here, but if you really do believe it will go up again, by selling and buying in again, you're actually going to lose money as opposed to just staying in to begin with, especially with th e 7.95 a pop for each buy and sell. Now that amount isn't much when you're dealing in thousands, but on amounts near a hundred, it just doesn't make sense.
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