#noncrypto-investing (Discord ID: 352760194775777282) in MacGuyver - Skills & Academics, page 1

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2017-08-31 16:19:34 UTC

โœก ๐Ÿ•Ž ๐Ÿ‡ฎ๐Ÿ‡ฑ

2017-08-31 16:20:04 UTC


2017-08-31 23:59:12 UTC

For you young-fags the reddit personal finance forum is actually really useful. https://www.reddit.com/r/personalfinance/wiki/commontopics

2017-08-31 23:59:56 UTC

get a mint app and track your expenses/make a budget.. very effective at making you aware how much you spend and where

2017-09-01 00:00:12 UTC

They have an easy to follow Personal Finance Flowchart here. https://i.imgur.com/CcEVQAV.png

2017-09-01 00:01:53 UTC

I found myself using Personal Capital more than Mint but they both do the job at tracking all your shekels.

2017-09-01 02:13:48 UTC

Can confirm mint does make budgeting easy

2017-09-01 02:17:10 UTC

Why hello my fellow (((Europeans))) I've worked for a (((bank))) and my dad has also worked for a bank since he was my age, so I know quite a bit about how they operate. Would be happy to answer any questions that come up that relate to that topic.

2017-09-01 06:03:49 UTC

Hi everyone! I want everyone to know that if you want to ask me a question about a financial issue you're having that's of personal in nature, then feel free to DM me. Being in collections, for example, would be a situation you don't want the world knowing about. I will not judge you, so don't hesitate or feel embarrassed to outreach me. Our discussion will be kept exceedingly private. If you want me to look at your credit report regarding anything about it - you can provide me a copy of it and we can go over it together. The same applies if you want me to look at say your wife's credit report, etc. I take handling of this private financial information very seriously. You can simply black out names, addresses, employer, social security numbers, or anything else you don't want me to see in order to feel comfortable in sharing - completely up to you. I will not retain the report after we finalize our discussion surrounding it.

2017-09-01 15:15:22 UTC

Are safe deposit boxes worth it?

2017-09-01 18:02:40 UTC

Gov can still confiscate deposit boxes.

2017-09-01 18:04:28 UTC

Icelandic rune poem for Fehu:

2017-09-01 18:04:31 UTC

Wealth is a source of discord amongst kin
and fire of the sea
and path of the serpent

2017-09-01 18:07:56 UTC

@Tycho Brahe What do you think about boomers retiring and starting to spend their assets (stocks, bonds) and stopping their buying. Will this demographic bomb deflate the stock market? I have been reluctant to use the 401k options at work.

2017-09-01 20:40:47 UTC

@Havamal Here's what I think you should do. You should take advantage of your employer's 401k plan *especially* if you can put your money in mutual funds or guaranteed bonds. The choice of the two depends on your personal level of risk taking. Having your money in a mutual fund, where your money is investing in a multitude of stocks generally within the same industry, will give you better diversity and a better safety net than having your money tied up in say one or two stocks. Although baby boomers are getting older and are needing to live off their investments now - GenX and Millennials are still spending like crazy especially Millennials which will keep profits soaring for companies. Mutual funds pertaining to say Amazon and other tech companies are doing very well especially because they keep on introducing new products and services that are taking off. Also, they have research and development on other services that have the propensity to change everything, therefore, a perfect candidate to invest in for the long term. But, if you're quite the risk taker - there's always international mutual funds that have higher rates of return but can be aggressive in the short term which is why you'd need to be committed for the long haul.

The other investment I mentioned were guaranteed bonds. Those speak for themselves - they're guaranteed. These are perfect if you're not wanting to take any risk. You have a guaranteed rate of return that's obviously much lower than a mutual fund but better than a certificate of deposit or regular savings account in most cases. All in all, this is a better way to stay ahead of inflation now for when you retire.

2017-09-01 20:43:51 UTC

@Havamal Always max out pre tax 401k because 1) it is the best return you can possible get (you aren't paying tax on that money). If you marginal tax bracket is 25% it is automatically a 25% return on the money you contribute. 2) usually companies will have an employer match feature - this is essentially free money

2017-09-01 20:47:27 UTC

I am very weary of stocks medium term, for the reasons I mentioned, however your points are logical, as well.

2017-09-01 20:47:28 UTC

@Havamal Also, if you have a qualified high deductible health care plan, look into a HSA account. HSA are pre tax as well. A single person can contribute about 3.5k/yr(I believe). Some companies offer these plans to employees, some do not. These are essentially pre tax savings account you can put towards qualified medical expenses, perscriptions, etc.

2017-09-01 20:49:12 UTC

Yeah, I have looked at those. Does Lasik count for HSAs?

2017-09-01 20:49:34 UTC

Thanks for your advice @Zyzz @Tycho Brahe

2017-09-01 20:50:38 UTC

@Havamal yes I believe so

2017-09-05 00:24:52 UTC

On a scale of 1 to 10, how much of a scam is P2P lending as a lender?

2017-09-05 00:36:38 UTC

dont do it.. i did it

2017-09-05 00:36:45 UTC

heres why

2017-09-05 00:37:42 UTC

P2P lending is greater as a BORROWER. you have a very competitive interest rate and it is unsecured debt which means if you have to default the lenders have no resource on your assets....

2017-09-05 00:38:34 UTC

as a lender you have no recourse if the borrower defaults. you are also highly reliant on the underwriting risk metrics/model the company employs (i lent money through lending club)

2017-09-05 00:39:58 UTC

to understand why lending club has incentive to fund as many loans as possible you first have to look at how they make their money... they do it primarily by originating loans and servicing loans. the bulk of their income is in the origination side.. servicing doesn't make them much money. they make money other ways but these are the primary ways

2017-09-05 00:40:01 UTC

why is that bad?

2017-09-05 00:41:04 UTC

because LC has incentive to originate as many loans as they can. they will manipulate their risk metrics to justify funding a loan at X% and Grade which implies a certain level of risk. the risk that comes along with these poorly underwritten loans do not justify the pay off

2017-09-05 00:42:29 UTC

additionally, as a borrower you do not have a lot of information from the borrower so it can be tough to make an assessment yourself as to how risky the loan actually is. you are pretty much going off the grade of the loan and their historical credit information without really understanding what their current income/expense situation is like. additionally, borrowers may say they will use the money for X but they may actually use it towards Y

2017-09-05 00:42:55 UTC

i also believe there is a lot of fraud going on.. ie: people taking out loans before they die or taking out loans without any intention of paying them back

2017-09-05 00:44:07 UTC

i would have lost money but i employed a strategy where i would buy the original issue, mark up 2% on the secondary market and sell it off to people who live in states that didn't have access to the original issue.. that made up the bulk of my return. all the defaults i suffered would have made my return negative if i didnt trade notes

2017-09-05 00:47:14 UTC

I agree entirely with what you're saying, these are all things that I've considered. I currently have 8% of my savings at lending club. I have a base of 25% of my investment in 3 year loans between A and C. The rest is used to buy loans that are less than 5 months to maturity and yield over 2% APY. Over the course of a year, my yield is at ~9%.

2017-09-05 00:47:37 UTC

damn you did better than me

2017-09-05 00:47:47 UTC

My primary concern is that this is a scheme, and that my money won't be there to withdraw when it's all over.

2017-09-05 00:47:56 UTC

i went to far out on the risk spectrum.. B-C with some D+E

2017-09-05 00:48:40 UTC

After I found out they had a trading platform, I was in the clear.

2017-09-05 00:49:28 UTC

@John O - , i don't think that'll happen(i think they may be FDIC insured) but with that said if you feel uncomfortable i'd withdraw my money as i have been doing over the last ~2 years

2017-09-05 00:50:42 UTC

How do you make withdrawals without incurring charges?

2017-09-05 00:51:09 UTC

on lending club? did you invest IRA money?

2017-09-05 00:51:22 UTC

there is a transfer tab on the homepage.. you can withdraw money for free

2017-09-05 00:52:17 UTC

Not IRA, personal savings. I might sound like a lunatic, but I don't trust any retirement fund.

2017-09-05 00:52:49 UTC

Err... Cash money, not personal savings.

2017-09-05 00:53:29 UTC

i hear you.. you should be able to withdraw all of it for free

2017-09-05 00:54:01 UTC

even if its IRA money you just have to transfer the money to another IRA account

2017-09-05 00:54:27 UTC

Gotya. I wired it in and incurred a $25 fee.

2017-09-05 00:55:32 UTC

odd i never had a fee in any transfer contribution or withdrawl

2017-09-05 00:56:25 UTC

was the fee charged by lending club or your bank?

2017-09-05 00:57:04 UTC

it may be because you did a wire rather than an ACH/electronic disbursement transfer

2017-09-05 00:59:51 UTC

The bank. It was because I wired it, but LC reimbursed me. They only reimburse deposits, though.

2017-09-05 01:00:20 UTC

link your bank account and do a ACH transfer.. the fee should be $0

2017-09-05 01:01:06 UTC

Once again, I might sound like an insane person, but I'm trying to get all my money out of financial instruments rn. When the economy starts to recess in a few years, I think It'll be best to be liquid.

2017-09-05 01:02:09 UTC

nah man i am right there with you.. i am gradually liquidating my investments in general

2017-09-05 01:02:35 UTC

probably not going to go 100% cash but i am gradually pairing down my holdings and getting more defensive with what i do hold

2017-09-05 01:03:32 UTC

I hate playing this game. It's rigged from the start. I just need to buy a house and rent out a room.

2017-09-05 01:04:09 UTC

dont buy now whatever you do

2017-09-05 01:04:19 UTC

I don't delude myself into thinking I'll ever be a full time landlord, but my money has to go somewhere, and playing this gets me in fits.

2017-09-05 01:04:28 UTC

i work in RE and homes are well overvalued

2017-09-05 01:04:29 UTC

Oh yeah, I'm not retarded.

2017-09-05 01:04:30 UTC

especially in FL

2017-09-05 01:04:43 UTC

Orlando is inflated af

2017-09-07 02:26:47 UTC

o.k. so, i'll be very boring for you fine men. Fail to diversify at your own risk. Finance is one where we must totally accept things the way they are. Idealism shouldn't play a role in finance, in my opinion. Indeed, I've learned a good deal from well vetted Jewish finance authors, among many other goys as well. This is an area where, while I cringe to throw any money (((their))) way, I have become a pragmatist. Examples of good Jewish financial authors who have it right (not scams) are Rick Edelman and William Bernstein. Among goys, classics such as Value Investing by Benjamin Graham, anything by Jack Bogle (founder of Vanguard), Rick Ferri, and many others are worthwhile. Diversify to be sure, and depending on your risk tolerance, you can do that any number of ways in terms of assett allocation. Also, maximize 401k, IRA's (even if you don't qualifty you can do back door Roth's), HSA's (a great way to further maximize pretax savings), and MINIMIZE expenses. Do not pay loads, or excessive fees, and Vanguard is an excellent source of low cost index funds (among many other things). Don't speculate on stocks either. It's a total crapshoot.

2017-09-07 02:31:28 UTC

Also, while rebalancing is something I'll chat about later, the data strongly suggests that if you have greater than a decade of risk tolerance, then indexing and STAYING invested is important, because the data shows that trying to time the market highs or lows keeps you from gaining on the recovery side, and losing on the buying low side of things. It's very clear. Sometimes big market busts which may last 1-2 years, show that the entire recovery occurred within a few very short months . If you were sitting on the sidelines waiting for the bottom you may very well may have missed the entire recovery (into positive returns) if you were not vested during that particular time. Nobody can time the market either. Nobody. So, I urge you not to try it.

2017-09-07 02:34:54 UTC

Now. If you have a goal of 60/40 (stoks always supercedes bonds when people talk like that), and stocks run up, your assets may become valued such that your prior goal of a 60/40 portfolio is now 80/20 (via the big run up in stocks). So, REBALANCING is the term used to sell some stocks, while buying some bonds (in this example) such that your portfolio resembles your original 60/40 target. When to do this is controversial. Some funds constantly do it for you (quite neat actually). Otherwise, maybe every 1-2 yeasrs seems to be concensus amongst the vetted financial guys I will allow myself to listen to. You aren't so much as timing the market by rebalancing, but inherently, you are selling high (those stocks that ran up) while buying low (those bonds that have been lagging or going down).

2017-09-07 02:36:38 UTC

Also, depending on the asset, and the SEC yield, you'll want to hold some things (REITS or High Yield Bonds) in tax "advantaged" accounts (like IRA, 401k, Cash balance accounts, HSA's) etc.

2017-09-07 02:37:40 UTC

This is because they can return such high distributions that you will be taxed if in a regular brokerage (non-tax advantaged) accounts.....

2017-09-09 01:13:10 UTC

Not sure if this is the best place for this, but I'm an accounting major, going to graduate college in May 2018. I have a GMAT exam scheduled in early november and after getting my results from that am going to apply to MBA programs. However, right now I have a few decent opportunities in terms of getting a job right after college for accounting firms as a staff accountant. I still have to actually apply and go thru the interview process and all that, but I am confident that if I do I can get in. My thing is that I will be graduating at 120 credit hours, and I will need 150 to qualify for a CPA (Can sit in on the exam at 120 tho). So I will need to go back to school for at least one year to become a CPA, and I don't want to get out of that 'academic mindset' by taking a break in between academics to work

2017-09-09 01:14:26 UTC

financing the MBA / other masters programs is not a big issue for me. Would you recommend that I just focus on the GMAT and the MBA or should I start applying for jobs and start working right after undergrad?

2017-09-09 01:23:49 UTC

@Deleted User This is a tough question, however, I understand exactly what you're saying. When I received by BS degree - I immediately went to work because I actually needed the money, and that was my need at that time and place. If I knew I'd by okay, then I would've continued on take the GMAT to enter a graduate program.

Speaking for myself, because I chose going to work - it DID demotivate me from continuing on for higher degrees. And I think it's that way for most people. Now, you may be able to find work that will allow you the flexibility to obtain an MBA. In conclusion, you may want to consider the GMAT as a primary focus because the information is fresh in your head AND you already have current study habits right now.....which tend to also be lost over a period of time away from schooling.

2017-09-09 01:25:53 UTC

@Deleted User take the job opportunity. good MBA programs value candidates with work experience.. work for a few years and see if you want to do an MBA program after that

2017-09-09 01:26:04 UTC

your GMAT is good for 5 years after you take the test i believe

2017-09-09 01:30:25 UTC

Yeah I get you. I'm a decent student, but not one of those with a 4.0 GPA, so its not like I can really afford to lose my current study habits. I'm trying to find internships/jobs that will accommodate myself doing an MBA while working but those and few and far between and doing that is going to tax me a lot in terms of time and energy. I guess i'll apply for a few jobs now but hold off on accepting any offers until I hear back from MBA programs. If I do not get into a good program then i'll work for a few years, but if I get into a good one I might as well finish my education in one fell swoop.

2017-09-09 03:12:14 UTC

You studs are on top of it. Proud of you guys. That's exactly why I joined IE. Good crowd.

2017-09-09 03:15:55 UTC

Can someone recommend good reading material for general real-estate investing? I have some spare capital and I'm looking to make it work. I'm already heavily invested in stocks. I have metals and no debt at all. I'm looking for something tangible to invest in, but I want to make sure I get a decent foundation before I start searching for properties.

2017-09-09 03:16:34 UTC

@Deleted User Check out biggerpockets.com... they have a lot of good books that are easy to understand

2017-09-09 03:16:44 UTC

they also sell their books on amazon as well

2017-09-09 03:16:55 UTC

appreciate it!

2017-09-09 03:26:06 UTC

Random post from the site:


2017-09-09 03:50:50 UTC

Middletown, CT?

2017-09-09 03:51:01 UTC

It's a TRS Meme

2017-09-09 03:51:29 UTC

Enoch tells reporters to meet him at the Taco Bell in Middletown

2017-09-09 14:09:36 UTC

@Deleted User Hey brother. Just be aware of the pitfalls of residential real estate renting. Lots of hidden expenses and possible headaches. Consider a REIT? Not hard asset, but I have become (was not always) a proponent to sticking within your area of expertise in order to maintain excellent cash flow (via your job), and advancing within, while letting others handle endeavors which you have less expertise in.

2017-09-09 14:11:53 UTC

That being said, I'm pretty sure at some point I will develop a small tract of land, or at least build some homes in the next 15 years. Indeed, I've even looked at Epcon Communities as a franchise opportunity. Would need partners and I am for sure not ready for that myself yet, but it looks very interesting. TIming will be important, as will location. I actually think there is value in a franchise like this. Zoning and approval help. Marketing strategy. Excellent floor plans and architectural/design plans. A managemnt and trades networking system......

2017-09-10 20:00:21 UTC

@chris smith-MI I appreciate it! I'm familiar with REITs but I need to revisit their tax advantages. That's one thing that kept me away from them before.

2017-09-10 20:47:02 UTC

@Deleted User dividends from REITs are taxes at your marginal rate. The idea behind it is REITs are not taxed at the corporate level so all money distributed to you is taxed

2017-09-10 20:47:31 UTC

Great, thanks @Zyzz !

2017-09-10 20:49:25 UTC

@Deleted User it's important to keep in mind MBAs programs are about networking rather than getting good grades. MBA program don't really give out failing grades or really even C's

2017-09-10 20:49:35 UTC

check out poets and quants for more info on b school

2017-09-10 20:49:57 UTC

One other question for the shekel-grabbers: what's the recommended way to buy municipal bonds? I can do it through my TD Ameritrade account but it all seems to be secondary market.

2017-09-10 20:51:50 UTC

@Deleted User I haven't really looked into munis very much but I believe my discount broker (fidelity) allows for investors to buy the original issue as well as on the secondary market. may I ask what interests you in munis?

2017-09-10 21:26:24 UTC

Is there any chance that anyone in I.E. would like to get together and buy some property? I know that it seems kind of LARPy, and we really don't know each other, so one guy totally fucking everyone else is a real danger, but in the VFP general the other day @Deleted User , Nathan, and some others were talking about it.

2017-09-10 21:27:18 UTC

I just joined I.E. a week ago, but I've been following you for a while. I was cautious about joining because I was worried about whether or not the risk would affect real change, but this is exactly what I've been looking for. I'm an electrician, but I can do everything from drywall to plumbing. I know there are others who are capable tradesmen as well.

2017-09-10 22:34:54 UTC

@John O - we should start a new channel aimed at RE investment. each member can have a title (ex: Acquisitions, Construction, Property Management, Sales and Marketing, etc.). With that said I am interested in buying property but we need to talk about (and agree to) a lot of things before we start throwing money at any particular asset. Also, as you know I think the market is frothy and we should sit on our hands until we get a recession of some sorts.

2017-09-10 22:35:31 UTC

Of course, this is a low time preference endeavor.

2017-09-10 22:35:51 UTC

We just need to be prepared to strike when the iron is hot.

2017-09-10 22:37:15 UTC

I want to stay away from a mortgage, and I don't have the money to buy a property outright. I'm close, but I won't be there in the next few years. Also, I'd rather not put my entire savings into a property, so if I could collaborate with 2-4 more people, that would be ideal.

2017-09-10 22:41:04 UTC

John, agreed 100%. Now is the time to build our war chest(cash) and figure out the details. Do you know how to start a new channel?

2017-09-10 22:42:32 UTC

I don't know if we should start a new channel. Maybe we should start a new topic in an existing channel. I can see it dropping off and people losing interest from a lack of activity if it were autonomous.

2017-09-11 01:36:51 UTC

@John M I'm definitely down for it. One thing we can use to protect each other is the fact that we're almost all in IE privately.

2017-09-11 01:37:09 UTC

If one of us screwed the group over, that person's personal information would be right there.

2017-09-11 01:37:17 UTC

Plus, getting kicked out of IE would really suck.

2017-09-11 01:38:02 UTC

I've also been thinking that as IE grows, there would be opportunities for cohousing. I think cohousing's going to be a bigger thing as more suburban enclaves get enriched. It's the logical next step IMO

2017-09-11 01:46:39 UTC

I was thinking cohousing, too, but then you get into legal trouble if we're declared a criminal organization for whatever reason. We should get a lawyer on board.

2017-09-11 01:47:03 UTC

I'm in FL btw. If I leave this convo for a few days, that's why.

2017-09-11 01:47:16 UTC

Oh shoot. Hope you make it through okay.

2017-09-11 01:47:24 UTC

Ain't sceered

2017-09-11 01:47:29 UTC

but yeah, count me in for future discussion. I have the capital and the interest

2017-09-11 01:47:32 UTC

das rite

2017-09-11 01:48:01 UTC

ok fuck it i am going to make a new channel and if it eventually dies it dies

2017-09-11 01:48:19 UTC

and we can all discuss this stuff rather than hijacking this channel

2017-09-11 01:49:11 UTC


2017-09-11 01:49:25 UTC

Stay safe, btw, dude. Where you located?

2017-09-11 01:50:31 UTC

i evacuated. my boss and the guy who owns by firm practically required all of us to do it

2017-09-11 02:07:32 UTC


2017-09-11 02:23:48 UTC

For anyone invested in IE related RE investments

2017-09-11 02:23:48 UTC
2017-09-11 16:54:48 UTC

^curious as to how much you need until you retire? Read the above article

2017-09-12 23:57:15 UTC

@John O - Bro, where are you from? I'm not really ready to do anything big in RE, but there may come a time. Also, timing in RE is important. I've always had an interest in building though, and will be looking for the opportunities in the future, perhaps.

2017-09-12 23:57:59 UTC

Florida. Join the server 2 posts above you.

2017-09-19 02:00:05 UTC

Is Ric Edelman confirmed Jewish? I got a few of his books.

2017-09-24 13:30:43 UTC

^if anyone is looking for good books on stock picking/analysis

2017-09-24 13:31:19 UTC

benjamin graham is one of the most well respected authors in the space

2017-09-24 16:25:20 UTC


2017-09-24 16:25:28 UTC

Graham is the thing.

2017-10-05 19:20:12 UTC

Thanks for the recs guys

2017-10-11 17:57:16 UTC

Anybody else on here trade/invest in crypocurrency?

2017-10-24 05:14:16 UTC

@here There is a chance I could come within possession of a $300k building in the center of Atlanta. If anyone has knowledge or advice that could help me please DM me. I intend to develope using these funds.

2017-10-24 05:35:13 UTC

broke: putting the building to personal use
woke: donating it to IE for an Atlanta HQ

2017-10-24 05:38:05 UTC

How did that even happen?

2017-10-24 05:38:28 UTC

I want to come into possesion of a $300,000 building

2017-10-24 05:38:54 UTC

Turn it into a trap house /s

2017-10-24 05:39:19 UTC

That would be a profitable venture in Atlanta

2017-10-24 05:39:35 UTC

Then donate 1/2 the proceeds to IE

2017-10-24 05:39:59 UTC

Hold perfectly mainstream concerts for 100% politically correct rock bands.

2017-10-24 05:40:18 UTC

Like Nickelback

2017-10-24 05:40:24 UTC

For the lulz, don't give out the location and time of the concert until the night of.

2017-10-24 05:41:12 UTC

Host a IE fundraising XXXTentacion concert

2017-10-24 10:22:52 UTC

alt right fit club, of course, that aside, what type of building?

2017-10-24 15:07:51 UTC

@Wotan Klan-GA I work in real estate. Curious what type of building it is? What is the immediate location like? How many stories? Acreage?

2017-10-24 16:26:04 UTC

Just DMed you

2017-10-24 16:27:25 UTC

lol @sigruna14 I would but it already sorta is as well as the other place

2017-10-30 18:06:12 UTC

So I have been told if I donate old clothes to charity I can get a tax deduction based on the value of the clothes I have donated. Has anyone done that?

2017-10-31 22:26:27 UTC

@here does anyone know how to get a mortgage when you have student loans? if anyone could DM me about this who knows mortgage stuff i would really appreciate it!

2017-10-31 22:30:29 UTC

@Zyzz yes. There's a limit to what you can write off in that kind of donation, and it's pretty low. It doesn't make much of a change.

2017-10-31 22:31:33 UTC

If you have lots of other deductions it's worth adding it on though.

2017-10-31 23:08:12 UTC

Cool I donโ€™t have many clothes I would give away. ~$500 value maybe. Would I be over the limit with that amount do you know?

2017-10-31 23:08:18 UTC


2017-10-31 23:12:50 UTC

i give my stuff to veterans

2017-10-31 23:13:05 UTC

thereโ€™s a truck that comes and picks it up

2017-10-31 23:13:26 UTC

my family and i do it once or twice a year

2017-10-31 23:14:34 UTC

you can claim it plus itโ€™s not getting resold and profited on

2017-11-09 21:49:55 UTC

@Deleted User why do you need a house right now? Why not pay down existing debt and invest/save now while renting an apt?

2017-11-09 21:51:37 UTC

@Zyzz that sounds a bit high but I'm not 100% sure

2017-11-09 21:54:03 UTC

@Juan Carlos it's about my parents. my student loans that they co-signed were messing up their ability to get a mortgage

2017-11-09 21:57:48 UTC

sheeeeiiiitttttt, this is out of my lane. Do they have enough money to talk to a fee-only financial advisor? A competent advisor could find some solutions for them.

2017-11-14 06:50:04 UTC

@Zyzz @cannoliqueen - NY#4073
I donate to goodwill.

-My Mom is a ninja at this, she goes to yard sales at the end of the day.... and asks to buy all the clothes for say $50. People generally agree, because yard sales are typically people getting rid of stuff.

-She then takes a huge pile of clothes, itemizes, folds, and takes pics of them. Then she donates them to Goodwill and gets the tax deduction for my business owner Dad.

-She secures between $10-20k deduction annually doing only this.

2017-11-14 13:00:11 UTC

@Tyler0317 wow your mom is smart

2017-11-14 21:54:54 UTC

There's lots of ways for we men to organize the contribution of our women.

By doing this my Dad gets:
1) A wife who gets her 'shopping fix' at inexpensive yard sales
2) Tax deductions which raise the standard of living of his family
3) This income justifies having a wife who can stay at home and be caretaker to his 5 kids and coming brood of grandkids ๐Ÿ˜ƒ

2017-11-14 21:57:39 UTC

Every server in the IE network needs a Chad react

2017-11-14 23:03:16 UTC


2017-11-21 20:10:37 UTC

@Tyler0317 so awesome

2017-11-26 15:03:57 UTC

This series on critical business skills looks great :)


2017-11-26 15:49:38 UTC

@SamanthaM#6505 Very interesting. Are you going to take the course?

2017-11-26 16:07:11 UTC

@DCViking No. Just putting it out there as an opportunity. :) I'm taking the Series 7 in December and the 66 in January, so there won't be spare time for much else.

2017-11-26 16:10:53 UTC

@SamanthaM Thanks for sharing. Let us know when you pass your tests ๐Ÿ‘Œ๐Ÿป

2017-11-26 16:18:35 UTC

Thanks so much! :)

2017-11-26 16:20:00 UTC

@SamanthaM I have my series 7 and 66 so let me know if you have any questions about the tests.

2017-11-26 16:25:44 UTC

Make sure you have the Options portion down pat. Both tests have lots of options questions. They are duplicative in that way. Also, make sure to study bond pricing. Neither of them are hard, it just takes a little practice. I am a former attorney but have been working in Finance for about 5 years now.

2017-11-26 16:34:11 UTC

Thank you! Yes, could definitely use some help with options. Keep getting stops and limits mixed up. Also, are there any tricks to remembering when to use the federal funds rate?

2017-11-26 17:24:08 UTC

Yeah, the options part can be tricky until you get the hang out it. I just memorized "Up, Down, Down, Up" and that helped to keep my thinking organized.

2017-11-26 17:26:05 UTC

As for the Federal Funds Rate, I have to be honest and say that is not something I have looked at in awhile. But if memory servers, it is the rate that the Fed lends money overnight to banks.

2017-11-26 17:37:24 UTC

Whoops, got that one wrong...haha...it HAS been awhile. Federal Funds Rate is the rate that banks lend deposit reserves to other banks overnight when the receiving bank won't have the deposit requirement. When the Fed wants to reduce the rates, they increase the money supply and buy government bonds. When they want to increase the rates, they sell. Lower the rates to spur the economy, raise them to cool it.

2017-11-26 17:51:38 UTC

@Darth Thanks, I always forget that FFR is the interbank loan and not based on FRB. The name is seriously misleading. By the way, what study program did you use? I've got both the finra workbook and passperfect.

2017-11-28 00:13:12 UTC

back when i took the 7 there was a lot on munis as well

2017-11-28 00:22:17 UTC

Is the "Ruin a company with our endorsement, invest, then withdraw endorsement" a viable investment strategy, or was Papa Johns on the way down anyway?


2017-11-28 00:24:48 UTC

Well, their product isn't the best. It probably doesn't have anything to do with us.

2017-11-28 00:25:53 UTC

i think they had a bad earnings number which is what prompted them to criticize the NFL which is why Anglin endorsed them which prompted them to disavow us

2017-11-28 00:26:19 UTC

@SamanthaM what do you do for work?

2017-11-28 00:29:06 UTC

@Zyzz Recently graduated. Just signed on to a firm as a junior financial advisor. And yourself?

2017-11-28 00:29:45 UTC

nice i work in RE, previously worked at an ibank where i needed my 7 and 63

2017-11-28 00:32:41 UTC

Interesting. What were your experiences with the ibank? What prompted your decision to switch to RE?

2017-11-29 02:42:28 UTC

Here's my plan.
1) Borrow a shit load of Bitcoin from p2p lending
2) Convert to cash
3) Bubble pops, you have cash, Bitcoin is worthless
4) Pay debnts

2017-11-29 02:42:52 UTC

Question is, when will Bitcoin pop?

2017-11-29 04:12:14 UTC

That's the age old question of when will x pop. If you knew, you'd be the richest man alive

2017-11-29 04:14:20 UTC

I had a wallet when Bitcoin was 10$. I tried to buy 100$ worth but the payment didn't go through for some reason.

2017-11-29 12:57:05 UTC

i wouldn't touch that shit @John O - it is pure speculation with (to my knowledge) no underlying demand drivers

2017-11-29 12:57:17 UTC

@SamanthaM DM'ed you

2017-11-29 15:46:04 UTC

@Zyzz yeah, of course. I've been saying that for years. Just kind of bullshiting

2017-12-04 23:59:54 UTC

I work in home mortgage if anyone needs advice on how to get approved for a loan.

2017-12-06 04:55:40 UTC

I'm thinking of suing ABC for damages


2017-12-06 13:54:13 UTC

So, people really shouldnโ€™t mess with crypto unless they already have a 401k and some slow growth safe investments, right? Do we need an advisor for things like IRAs or can we do all that through TD Ameritrade?

2017-12-06 14:39:22 UTC

@this_that5553 Check out the convo on IE general

2017-12-06 14:42:01 UTC

Yeah, I don't invest because it pisses me off so much. But the pump and dump scheme seems to be what everyone is doing

2017-12-06 14:43:14 UTC

It's sad, because Monero and Ethereum are legitimately good technology. But people just latch on to whatever crypto has the most hype and the hype is completely artificial. People are talking about Lite Coin too now. Like WTF. Lite Coin sucks ass, but the hype is randomly around it again

2017-12-06 14:44:45 UTC

Dude, the entire concept of crypto currency is fragile af. If the world economy ran on crypto, even if it was a good one, I would be very uncomfortable

2017-12-06 14:45:19 UTC

I agree. But the shitty thing is that nobody actually uses these coins. They just buy and sell the coin themselves

2017-12-06 14:45:37 UTC

Yeah dude

2017-12-06 14:45:38 UTC

The fact that there is _zero_ commerce around this stuff should be a huge warning flag

2017-12-06 14:45:49 UTC


2017-12-06 14:46:08 UTC

There are several huge red flags

2017-12-06 14:46:14 UTC

e-stores that use bitcoin do _very_ little business in it. I guarantee. To the point where stores have just stopped supporting it

2017-12-06 14:46:43 UTC

Let's be honest, NEETs do not spend much money on goods and services

2017-12-06 14:48:12 UTC

Anyway, I'm gonna watch some tutorials on TD Ameritrade or something lol

2017-12-06 15:39:31 UTC

I've used Schwab since I was 21, can't complain

2017-12-06 16:20:11 UTC

@John O - yeah me too I like it a lot

2017-12-06 16:21:14 UTC

@this_that5553 I like to use Bitcoin to buy stuff because a lot of merchants give discounts for using it

2017-12-06 16:22:44 UTC

From what I understand though it is used a lot more in third world countries that don't really have a credit card infrastructure

2017-12-06 16:24:41 UTC

Third world countries also don't have much of a landline phone infrastructure, so those places were very quick to adopt cell phone towers and basically "skipped" ever setting up landlines

2017-12-06 17:36:34 UTC

So Iโ€™ve been listening to the โ€œMoney For The Rest of Usโ€ podcast in my free time. I know very little about how finance works, and I thought it would be a decent way to learn some basics. But I canโ€™t decide if the guy is a charlatan or โ€˜guruโ€™ figure or if he is actually knowledgeable. Has anyone with more in-depth knowledge on the subject gotten a good read on the podcast? And if he is an intellectual fraud, are there any other good podcasts youโ€™d suggest instead?

2017-12-06 18:42:20 UTC

@Tim - NH not sure about podcasts but reddit has some good finance related sections. If you are having trouble understand what a topic is you can always post the thread here and we can review/discuss

2017-12-06 18:43:54 UTC

@this_that5553 buy a broad based vanguard mutual fund. They have the lowest fee structure. Aim to choose a fund with broad exposure to the market rather than something sector specific. Thatโ€™s how you eliminate company or industry specific risk.

2017-12-06 18:44:58 UTC

You wonโ€™t become a billionaire overnight but I believe in avg the market appreciates ~7% per year so you can do the math as to how much youโ€™ll make overtime given your contribution level and expected date of withdrawl

2017-12-06 20:39:17 UTC

@Zyzz Solid advice, thanks

2017-12-07 23:14:37 UTC

Does anyone want me to give a seminar on how financial options work? not a "here's how to get rich trading options", but rather "here is what options are and how they work." The knowledge you would gain from this would be applicable to trading options on stocks as well as other financial instruments such as bitcoin.

2017-12-07 23:25:29 UTC

@Deleted User I think that would be great. I remember someone here was asking about that the other day though I can't find the convo now.

2017-12-07 23:28:28 UTC

Yeah, people were talking about it in IE General, and with the upcoming BTC futures I thought it might be a topic of interest.

2017-12-08 17:52:35 UTC

@Deleted User id be interested

2017-12-08 18:51:16 UTC

OK, I'll plan to do a 30-minute seminar Sunday the 10th at 9PM ET. @Zyzz let me know if you want to team up. I'll do it on the "voicechat" channel of this server. LMK if that time doesn't work for you. I'll send a channel annoucement later today if no one objects to the time.

2017-12-09 00:30:24 UTC

https://www.youtube.com/watch?v=Xmi-GtBG5vw @everyone Spencer gives a good take on bitcoin that I agree with 100%. The jist is people are buying bitcoin to sell bitcoin they don't actually want to hold it they just want to flip it and make money off of it. Anyone who is holding bitcoin should carefully consider how a 50-90% decrease in price would make them feel. I suggest you sell your holdings.

2017-12-09 02:55:04 UTC

All newbs should lurk on the Reddit Personal Finance forum. and buy Ric Edelman's 'The Truth about Money'

2017-12-09 03:09:41 UTC

Whats everyones thoughts on Lending Club?

2017-12-09 03:09:47 UTC

@Zyzz Thanks, yes this is stuff that has been in the back of my mind. I'm just slowly selling my btc piece by piece

2017-12-09 03:11:26 UTC

I was in around june july time, so my selling off 33% of my btc I've gotten my money back

2017-12-09 03:12:28 UTC

@Deleted User I used lending tree as a borrower, it was fine on my end.

2017-12-09 03:15:20 UTC

I invested 100 bucks back about a year ago and forgot about and ended up making fairly good positive returns but have been reading some bad reviews lately on Lending Club itself.

2017-12-09 03:18:47 UTC

@Deleted User Like what?

2017-12-09 03:19:05 UTC

Returns or the bad press?

2017-12-09 03:19:15 UTC

Bad press

2017-12-09 03:19:45 UTC

There was a scandal in the administration. During the founding the owners bought a bunch of loans to boost popularity

2017-12-09 03:19:59 UTC

And the other big peer lender has been outperforming lately

2017-12-09 03:20:33 UTC

From what I've seen as well, many people use automatic investing and then aren't happy when they have so many loan defaults because they don't look at who they're lending money to.

2017-12-09 03:21:41 UTC


2017-12-09 03:32:02 UTC

@Deleted User I've run about $20K through lendingclub and gotten a 5.4% return so far. It will probably go down a few more percentage points by the time my existing notes conclude.

2017-12-09 03:32:37 UTC

I've been happy with it, but I'm not doing automatic investing or putting any additional capital into it. I've read too many negative things about it.

2017-12-09 03:52:22 UTC

@ThisIsChris congrats on the nice gains. i wouldn't leave anything on the table that youre not comfortable with losing. i wish i could be more optimistic about BTC but i have no way of valuing this currency so i have no way of telling if its over or undervalued. if this were a company we could do a discounted cash flow analysis or compare its PE ratio to peers and have a better understanding as to its valuation. i was talking to @Deleted User about this earlier but i believe BTC is rising off of the "Greater Fool Theory" also look up the Holland Tulip Mania. I would not be surprised if it plays out similarly. We shall see

2017-12-09 03:52:41 UTC

@here Sunday the 10th at 9PM Eastern, I will give a short seminar explaining options on the "voicechat" channel. My goal is that anyone listening will come away understanding what options are, the difference between a call and a put, the meaning of "strike price," "expiration," and "exercising," and the basics of how options are priced on the open market. If you understand these you'll be able to understand an options chain, and you'll have a solid foundation to understand sophisticated options trading strategies. I'll try to make it interesting, informative, and fun.

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