Message from @chris smith-MI

Discord ID: 355179786684989450


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:

https://cdn.discordapp.com/attachments/352760194775777282/355916752250601473/unknown.png

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 !