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😂

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

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

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

https://www.mint.com/ or https://www.personalcapital.com/

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

https://www.macrovoices.com/guest-content/list-guest-publications/1151-slidedeck-eurodollar-university-part-i/file

http://www.alhambrapartners.com/2017/08/30/a-small-place-to-start/

http://www.alhambrapartners.com/2017/08/30/the-two-parts-of-bubbles/

http://www.alhambrapartners.com/2017/08/29/not-all-swaps-are-created-equal-part-1-eurodollar-university/

http://www.alhambrapartners.com/2017/08/29/not-all-swaps-are-created-equal-part-2-eurodollar-university/

Can confirm mint does make budgeting easy

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.

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.

Are safe deposit boxes worth it?

Gov can still confiscate deposit boxes.

Icelandic rune poem for Fehu:

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

@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.

http://www.zerohedge.com/news/2017-08-31/boomers-are-turning-71-these-4-charts-paint-perfect-storm-it-will-set-investors

@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.

@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

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

@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.

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

Thanks for your advice @Zyzz @Tycho Brahe

@Havamal yes I believe so

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

dont do it.. i did it

heres why

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....

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)

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

why is that bad?