Financial Issues

[sue bee 10+ year member]

Money problems?

I wonder why?

 

[HitManSE 10+ year member]

How am I splitting hairs? You're overgeneralizing. I'd give you more examples that don't fit accordingly to your groupings, but like I said, I'm a hustla.

Perhaps.

However I didnt make this thread to argue over what I consider an asset and liability compared to what you think is an asset or liablity. Its pointless, many things sit in that grey area.

Most have enough common sense to figure that out whats necessary in day to day life.

If you have a point to make, make it.

edit: ...and when the hell did I state I had financial issues of my own?

 

[regal8r 5,000+ posts]

what are some examples of assets other than rental property and bank accounts that earn interest?

 

[HitManSE 10+ year member]

what are some examples of assets other than rental property and bank accounts that earn interest?

Too many answers to that question.

Thats why I was trying to simplify it by saying an asset is something that puts money into your pocket at the end of the month and a liability is the opposite.

 

[regal8r 5,000+ posts]

can u have a 401k that transfers with u to different employers or does each employer have their own 401k program?

 

[slick rick 10+ year member]

Go to law school...and be in debt for a few years after you graduate. //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif Or, just put the $ in CD's or MM's.

 

[Flipx99 5,000+ posts]

I think you have a misperception on assets and liabilities.

The loan against your home is the liability, not the home itself as that is an asset. An item does not have to produce income to be an asset. It can faciliate other assets.

In any type of investment, transaction costs are the biggest threat to profits.

 

[Eugenics 5,000+ posts]

I have a book i could recommend you. You would probably enjoy it very much. It highlights a lot of the same points and talks about accumulating wealth.

 

[Flipx99 5,000+ posts]

I have a book i could recommend you. You would probably enjoy it very much. It highlights a lot of the same points and talks about accumulating wealth.

Go ahead, as long it is not that Rich Dad, Poor Dad trash.

 

[MikeofTulsa Moderator]

there are many things that can help you to be able to retire at a young age, i suggest looking into money market accts and cd savings accounts and/or bonds. me personally, i have my money set up so that i have a portion each month going to a money market acct w/ a 4.3% interest rate and i plan on purchasing several cd's over the next few years. the key however is to not spend your nest egg and live in your means

 

[Flipx99 5,000+ posts]

there are many things that can help you to be able to retire at a young age, i suggest looking into money market accts and cd savings accounts and/or bonds. me personally, i have my money set up so that i have a portion each month going to a money market acct w/ a 4.3% interest rate and i plan on purchasing several cd's over the next few years. the key however is to not spend your nest egg and live in your means

You will never be wealthy if you invest in that BS.

Average effort = average investor = average results

10% per year or bust (and yes I take the risks to do so)

I search ways to gain 2 or 3% like Scott Owens tries to find a 1/10th dB.

 

[HitManSE 10+ year member]

I think you have a misperception on assets and liabilities.
The loan against your home is the liability, not the home itself as that is an asset. An item does not have to produce income to be an asset. It can faciliate other assets.

That is what I meant by splitting hairs earlier on. Perhaps I was wrong in not being more in depth over the explanation of that, so be it.

I understand that. Just like with the car, while it does cost people money and does depreciate in value its necessary for most people to get to and from work. Allowing you to earn $.

Another is your home, while it costs money to live in, you need it in order to have a place to stay, ect. Its a necessary cost of life. The list can go on & on.

In any type of investment, transaction costs are the biggest threat to profits.

Cant argue that.

 

[HitManSE 10+ year member]

You will never be wealthy if you invest in that BS.
Average effort = average investor = average results

10% per year or bust (and yes I take the risks to do so)

I search ways to gain 2 or 3% like Scott Owens tries to find a 1/10th dB.

Finally something appealing. 100% agreed. While CD's, ect. are a start and they do server their purpose. There are bigger and better things out there. If you do what everyone else does, you're going to get the same results everyone else will.

What im personally interested in is investments that make your $ work for you, producing enough income on a yearly basis to basically snowball itself. While its not that simple, its possible. That of course means with more risk, but so long as proper due diligence is put it, its a calculated risk.

 

[Flipx99 5,000+ posts]

Finally something appealing. 100% agreed. While CD's, ect. are a start and they do server their purpose. There are bigger and better things out there. If you do what everyone else does, you're going to get the same results everyone else will.
What im personally interested in is investments that make your $ work for you, producing enough income on a yearly basis to basically snowball itself. While its not that simple, its possible. That of course means with more risk, but so long as proper due diligence is put it, its a calculated risk.

The only purpose of a CD is a few percentage points over a bank account. It's is not even a good tax shelter. I personlly won't ever own a CD. There are high-interest bank accounts that provide similar results with much more liquidity. No real reason I can think of to ever invest in a CD.

I am thinking you want an annuity or bond of some type. When I invest in single stocks (as opposed to ETFs) I don't plan to cash out for 10 to 15 years. The dividends are reinvested. It is not like I am getting distributions while the asset increases in value.

If you take the distribution instead of reinvesting you will never get wealthy. Wealth is facilitated by compounding. If you don't allow the earnings to compound, it will never help.

 

[docutech 10+ year member]

i get paid to be on here. so meh

Hey! Me too!