screw all this advice, just vote democrat and let the govt. take care of you. It is wayyyyyyyyyyy easier than getting a frickin' job!!!
No kidding.lowing wrote:
screw all this advice, just vote democrat and let the govt. take care of you. It is wayyyyyyyyyyy easier than getting a frickin' job!!!
To steal a line from a movie.... "The workin man is a sucka."
Luckily I don't have to worry about anything. My mum sort it all out with investments and insurance Oh and I have some gold locked in a vault
Figure out the difference between and liability and an asset. Forget the Porsche and buy a house instead. They appreciate, cars don't.doctastrangelove1964 wrote:
I am 15 and save over 90% of the very little I earn, being a part time library clerk isn't the best way to get a Porsche, but I don't intend on doing that all my life. Also I plan on taking AP MacroEconomics in Senior Year of highschool so I will be well prepared for the finacnical world. So yeah good advice.
Good luck with macro economics. Pay attention and you will see where the real money is being made.
Macro won't teach him jack about where to make money nor will it prepare him for the financial world. It's still a great course though.smtt686 wrote:
Figure out the difference between and liability and an asset. Forget the Porsche and buy a house instead. They appreciate, cars don't.doctastrangelove1964 wrote:
I am 15 and save over 90% of the very little I earn, being a part time library clerk isn't the best way to get a Porsche, but I don't intend on doing that all my life. Also I plan on taking AP MacroEconomics in Senior Year of highschool so I will be well prepared for the finacnical world. So yeah good advice.
Good luck with macro economics. Pay attention and you will see where the real money is being made.
Actually, saving money devalues your currency. You're best off spending as soon as you find anything worth it (including sound investments).simmy.uk wrote:
Saving money is good. Spending money is bad.
There I have said it.
I am damn glad I took that Economics course this year, it has really helped me to uncover some of the inner workings of the financial world. I like Business and am stoked that I just got into TCNJ for Economics Major (BS).
Pretty sweet.
As for saving money, I have saved approximately $2,000 from when I was working (I quit; various reasons) and am blowing most of it this summer on Mexico (Yay beer) and a shore house with my friends (Yay beer and drugs!).
So as you can see, I have conveniently saved my money and fought for my right to party at the same time!
I am 'un genious'. Espanol FTW.
Pretty sweet.
As for saving money, I have saved approximately $2,000 from when I was working (I quit; various reasons) and am blowing most of it this summer on Mexico (Yay beer) and a shore house with my friends (Yay beer and drugs!).
So as you can see, I have conveniently saved my money and fought for my right to party at the same time!
I am 'un genious'. Espanol FTW.
Lie your way to the top of a company, make a shit load of money under the covers, and never let the IRS or anyone else know about your dirty scheme. Unexpectedly resign from your position once you have a handsome amount of cash in your bank account, and live the high life.
[whine] I don't want a house, I want an Aston Martin! [/whine]smtt686 wrote:
Figure out the difference between an liability and an asset. Forget the Porsche and buy a house instead. They appreciate, cars don't.doctastrangelove1964 wrote:
I am 15 and save over 90% of the very little I earn, being a part time library clerk isn't the best way to get a Porsche, but I don't intend on doing that all my life. Also I plan on taking AP MacroEconomics in Senior Year of highschool so I will be well prepared for the finacnical world. So yeah good advice.
It's somewhat disturbing that I mean that when I say it.
lol, you Euros and your socialism. You do realize that somebody has to pay for the net loss on that account, I hope.CameronPoe wrote:
SSIA FTW! You can't beat an interest rate of 25%. Mines matures in 12 days time after 5 years of saving......w00t.
Or, are you telling me that your taxes pay for such programs. lol.
capitalism>socialism..
Actually 25% over 5 years isn't really spectacular. That's < 5% annually on that amount. You can do that with a decent mix of mutual funds. Even a CD will beat 5% a year depending on how much you have in there and for how long.ATG wrote:
lol, you Euros and your socialism. You do realize that somebody has to pay for the net loss on that account, I hope.CameronPoe wrote:
SSIA FTW! You can't beat an interest rate of 25%. Mines matures in 12 days time after 5 years of saving......w00t.
Or, are you telling me that your taxes pay for such programs. lol.
capitalism>socialism..
Docta-Take Micro after, It's easier than Macro.smtt686 wrote:
Figure out the difference between and liability and an asset. Forget the Porsche and buy a house instead. They appreciate, cars don't.doctastrangelove1964 wrote:
I am 15 and save over 90% of the very little I earn, being a part time library clerk isn't the best way to get a Porsche, but I don't intend on doing that all my life. Also I plan on taking AP MacroEconomics in Senior Year of highschool so I will be well prepared for the finacnical world. So yeah good advice.
Good luck with macro economics. Pay attention and you will see where the real money is being made.
A good book to explain liability vs. asset is "Rich Dad Poor Dad"-Robert Kowasomething.
Or move to Europe, same thing plus no draftusmarine2007 wrote:
No kidding.lowing wrote:
screw all this advice, just vote democrat and let the govt. take care of you. It is wayyyyyyyyyyy easier than getting a frickin' job!!!
To steal a line from a movie.... "The workin man is a sucka."
I'll be sure to follow that advice once the economy levels out and I can finally get a job.
just about to start college...deeznutz1245 wrote:
I cant preach enough about this. Get your finances in order!!! You may not realize that the good time you are having, saving no money in your early 20's can come back to haunt you. You should be starting your careers now so when you go for a job ensure they offer 401k and match what you put in at least up to %10, that is huge. Also, check out some IRA's, Roth IRA's and other small investment opportunuties. I am no financial guru, I am hoping some of our other members are and can provide good financial insight. If you would like to own your own home by the time you are thirty it will take more than %5 of the home's cost as a down payment. It will take great credit, minimal debt, job security (I had 4 years at the same employer), a good savings account, and a lot of other stuff as well. Perhaps we can share some investment strategies here.
it's nice to hear some advice, thanks...
it's been stressful so far just trying to figure out how to make it all work...
If I don't buy bread for a few weeks so that I can buy another dozen beers every once in a while, is that good enough?
www.sorted.org.nz has various savings calculators. Its for NZ but the math will work for anywhere.
$100 a week at 8%...
...for 5 years:
Your savings $26,000.00
Earnings on savings $5,687.47
Todays savings in today's dollars $31,687.47
...for 10 years:
Your savings $52,000.00
Earnings on savings $26,246.75
Todays savings in today's dollars $78,246.75
...for 15 years:
Your savings $78,000.00
Earnings on savings $68,657.62
Todays savings in today's dollars $146,657.62
...for 20 years:
Your savings $104,000.00
Earnings on savings $143,175.62
Todays savings in today's dollars $247,175.62
...for 25 years:
Your savings $130,000.00
Earnings on savings $264,869.55
Todays savings in today's dollars $394,869.55
...for 30 years:
Your savings $156,000.00
Earnings on savings $455,880.38
Todays savings in today's dollars $611,880.38
...for 35 years:
Your savings $182,000.00
Earnings on savings $748,740.48
Todays savings in today's dollars $930,740.48
...for 40 years:
Your savings $208,000.00
Earnings on savings $1,191,250.59
Todays savings in today's dollars $1,399,250.59
...for 45 years:
Your savings $234,000.00
Earnings on savings $1,853,645.65
Todays savings in today's dollars $2,087,645.65
...for 50 years:
Your savings $260,000.00
Earnings on savings $2,839,123.83
Todays savings in today's dollars $3,099,123.83
And that is JUST saving a hundred dollars or pounds or euros a week...sure getting an 8% savings account could be problematic, but there are other investments out there too.
www.sorted.org.nz has various savings calculators. Its for NZ but the math will work for anywhere.
$100 a week at 8%...
...for 5 years:
Your savings $26,000.00
Earnings on savings $5,687.47
Todays savings in today's dollars $31,687.47
...for 10 years:
Your savings $52,000.00
Earnings on savings $26,246.75
Todays savings in today's dollars $78,246.75
...for 15 years:
Your savings $78,000.00
Earnings on savings $68,657.62
Todays savings in today's dollars $146,657.62
...for 20 years:
Your savings $104,000.00
Earnings on savings $143,175.62
Todays savings in today's dollars $247,175.62
...for 25 years:
Your savings $130,000.00
Earnings on savings $264,869.55
Todays savings in today's dollars $394,869.55
...for 30 years:
Your savings $156,000.00
Earnings on savings $455,880.38
Todays savings in today's dollars $611,880.38
...for 35 years:
Your savings $182,000.00
Earnings on savings $748,740.48
Todays savings in today's dollars $930,740.48
...for 40 years:
Your savings $208,000.00
Earnings on savings $1,191,250.59
Todays savings in today's dollars $1,399,250.59
...for 45 years:
Your savings $234,000.00
Earnings on savings $1,853,645.65
Todays savings in today's dollars $2,087,645.65
...for 50 years:
Your savings $260,000.00
Earnings on savings $2,839,123.83
Todays savings in today's dollars $3,099,123.83
And that is JUST saving a hundred dollars or pounds or euros a week...sure getting an 8% savings account could be problematic, but there are other investments out there too.
Last edited by Pubic (2007-03-08 01:31:49)
Get good advise from professionals and invest. Property is best as its always on the up. ohhh, and move to Europe.
@ATG. Get that house remortgaged and chuck that 60G into the deposit on a second house on a buy to let mortgage. Get some Mexicans in to rent, paying you cash. Make it/them work for you. Debt=good.
@ATG. Get that house remortgaged and chuck that 60G into the deposit on a second house on a buy to let mortgage. Get some Mexicans in to rent, paying you cash. Make it/them work for you. Debt=good.
You can get more than that in the UK in Bonds. I think the best you can get is about 7%pa. ISAs are the way to go though, tax free.chittydog wrote:
Actually 25% over 5 years isn't really spectacular. That's < 5% annually on that amount. You can do that with a decent mix of mutual funds. Even a CD will beat 5% a year depending on how much you have in there and for how long.ATG wrote:
lol, you Euros and your socialism. You do realize that somebody has to pay for the net loss on that account, I hope.CameronPoe wrote:
SSIA FTW! You can't beat an interest rate of 25%. Mines matures in 12 days time after 5 years of saving......w00t.
Or, are you telling me that your taxes pay for such programs. lol.
capitalism>socialism..
I think you miss the point: it's 25% PER ANNUM. And then there's ordinary interest on top of that again. It's about as sweet as it gets.chittydog wrote:
Actually 25% over 5 years isn't really spectacular. That's < 5% annually on that amount. You can do that with a decent mix of mutual funds. Even a CD will beat 5% a year depending on how much you have in there and for how long.ATG wrote:
lol, you Euros and your socialism. You do realize that somebody has to pay for the net loss on that account, I hope.CameronPoe wrote:
SSIA FTW! You can't beat an interest rate of 25%. Mines matures in 12 days time after 5 years of saving......w00t.
Or, are you telling me that your taxes pay for such programs. lol.
capitalism>socialism..
Last edited by CameronPoe (2007-03-08 04:13:58)
The way I read your link, and a few others I googled, it looked as if the 25% is a one time match on your contributions during the first year, then you accrue interest (2 - 4.5% depending on which site you read) annually on top of that. However, I'm sure you know more about it considering you have the monthly statements. Sorry for the misunderstanding, that does sound pretty sweet.CameronPoe wrote:
I think you miss the point: it's 25% PER ANNUM. And then there's ordinary interest on top of that again. It's about as sweet as it gets.chittydog wrote:
Actually 25% over 5 years isn't really spectacular. That's < 5% annually on that amount. You can do that with a decent mix of mutual funds. Even a CD will beat 5% a year depending on how much you have in there and for how long.ATG wrote:
lol, you Euros and your socialism. You do realize that somebody has to pay for the net loss on that account, I hope.
Or, are you telling me that your taxes pay for such programs. lol.
capitalism>socialism..
I'm 13 and i have rougly around £700-£800 in my bank atm but yeh thanks for the advice xD
I wish I had started when I was in my teens but I think I good start at 22
I have a collective life insurance through Farm Bureau - where it earns interest and the more I invest into the quicker I can make 1 million ( the HARDEST to make) past that first million I can make more in a quarter of the time it took me
I have a collective life insurance through Farm Bureau - where it earns interest and the more I invest into the quicker I can make 1 million ( the HARDEST to make) past that first million I can make more in a quarter of the time it took me
Capitalism does not exist, neither does socialism. They are words that simplify concepts that are branches of an oversimplified political view of economics, which is itself the simplification of an incredibly complex system. In short, you cannot measure, demonstrate, or quantify either capitalism of socialism. Secondly, when the denotative meaning of a word is self-referential to its connotative meaning, the word loses all function.ATG wrote:
lol, you Euros and your socialism. You do realize that somebody has to pay for the net loss on that account, I hope.CameronPoe wrote:
SSIA FTW! You can't beat an interest rate of 25%. Mines matures in 12 days time after 5 years of saving......w00t.
Or, are you telling me that your taxes pay for such programs. lol.
capitalism>socialism..
I'm sorry if I have to be the one to break it to you, but the US is socialist, get over it.
Four letters:
Gold
Gold