you're nuts to risk money in the stock market that

Discussion in 'Stock Market' started by abrere, May 28, 2018.

  1. abrere
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    abrere BANNED

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    you'd not just take to the casino. Cause that's all the stock market is, a lucky bet. You have zero control over what happens to any money that you've put into stocks or options,, so you''re a fool to be in it, with anything more than what amounts to pocket change for you.
     
  2. MarathonMike
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    MarathonMike Platinum Member

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    A healthy percentage of my net worth was made in that casino a long with millions of other non-elite Americans like myself. Did you join USMB to post nonsense or do you have something substantive to contribute?
     
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  3. Mac1958
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    Mac1958 Diamond Member

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    Silly stuff.

    Get a good advisor.
     
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  4. william the wie
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    william the wie Gold Member

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    Search for "Dividend Champions" and get some compounding going for yourself. A lot of that compounding is writing covered options. (6-8% after commissions even on low yield shares is nothing to write home to momma about.) Search for DIPs look for ones that have discounts on share prices for the cash you send in. When you get round lots and enough extra shares to keep the account going put those round lots in your stock market account to write covered options. Also keep an eye out for x-div dates for trading profits as well. Rinse and repeat
     
    Last edited: May 29, 2018
  5. Meister
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    Meister USMB Mod Staff Member Supporting Member

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    I make more now than I did when I worked thanks to the NYSE Casino.
     
  6. abrere
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    abrere BANNED

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    we'll see if you're still saying so in 5 years. 10 years, it's almost guaranteed that you wont be. there's scores of ways to kid yourself that you're making money. Then somebody notices you, suckers you into something bigger and cleans you out. I put 3k into a 30k, 2000 sq ft home, on a VA home loan,, in OK, spent another 2k on setup, and rented out 6 small rooms the first 3 weeks I ran ads about them, $100 a week, cash. In another month, I had rented out the remaining 6 rooms, built mostly with the rental income from the first 6. This included installing another bathroom. So my 6k was making me 5k a month within 2 months, reliable as the sun rising every morning. A sober living contract lets me check out their rooms daily, and evict them "at will". I had a waiting list of tenants within 3 months, cause of the free wifi, the common room with cable tv and several tv sets, the common room's 3 microwaves, the common access to a pair each of washers and dryers. THIS is the way to invest your money. There's lots of room for such boarding houses., around any miitary base and town that has a big college, but OK has by far the cheapest housing in the US. Once you have 3 such boarding houses set up, run by live in managers, you can afford to pay a property management company to oversee your managers. Go retire in the third world, living like a king on your clear 60k a year. This takes nothing more than a 6k college loan and 3 years of paying attention to what you need to learn/do. Works great along with being in the National guard as a 1k a month side-income. By the time you're out of college and finished your 6 years with the guard, you can have 10 such boarding houses, each one clearing you 20k a year.
     
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  7. abrere
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    abrere BANNED

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    there's been an annual average of 5% inflation and you have to pay taxes and 14% SS if you're considered to be self employed, living on your investments. Some of this can be gotten around by forming an LLC, but you'll still need to mak 7%, EVERY year, just to stay even. with the boarding house,you have to invest some of your time (at first) but then you start clearing 30k or more per year, on a 6k investment and you can grow your setup by 2 boarding houses per year. You do NOT have to be a vet to get a VA home loan (no down payment) either. You just have to KNOW a trustworthy vet and have him get the loan, then sell the place to you, in return for your making him your tenant manager. He'll get a free room and 5--10k per year cash, whatever you agree upon. You'll have far more control on what happens to your money this way. In a very few years, you'll have so much provably reliably income from your homes that you'll be able to borrow against them, big time, or sell them outright for a huge profit.
     
  8. abrere
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    abrere BANNED

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    you can do this anyplace in the USA, but most places, the houses cost much more, the taxes are much higher than in OK, the utilities cost a lot more. So you have to find tenants who can and will pay twice as much for a small weekly room. They can all draw $700 a month SSI, so they can afford a $100 a week room, with all the bennies. Just the TV, microwave, fridge, wifi and washer/dryer access total being worth at least $30 a week. So they are really paying only $10 a day for that room, as vs $40 a night for the cheapest motel room (no washer dryer, microwave, tv, wifi, frig, etc.
     
  9. Meister
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    Meister USMB Mod Staff Member Supporting Member

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    Keep your day job at Burger King, Sonny.
     
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  10. Nova78
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    Nova78 Gold Member

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    Its none of your business what others do with there money, no more than you being a slumlord., slick.:ack-1:
     
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