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Returning 4% a month is an annual return of 48% so the lowest risk avenue is probably doing some kind of options trading on margin and declaring bankruptcy when it goes wrong.
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Mar 29, 2024 14:20
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Hughmoris posted:A scenario and a rookie question: $200/day, as you define it, 20 days/month, would be 200*20*12 = $48,000/year. or 48% annual return on $100k. if you can find a consistent, reliable low risk way to get 48% annualized returns, be sure to tell the rest of us. it will not come from any advice you will find in the newbies thread.
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Mar 29, 2024 14:21
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Hughmoris posted:A scenario and a rookie question: Post the article so it can be properly debunked.
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Mar 29, 2024 14:31
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KYOON GRIFFEY JR posted:Returning 4% a month is an annual return of 48% so the lowest risk avenue is probably doing some kind of options trading on margin and declaring bankruptcy when it goes wrong. pmchem posted:$200/day, as you define it, 20 days/month, would be 200*20*12 = $48,000/year. or 48% annual return on $100k. if you can find a consistent, reliable low risk way to get 48% annualized returns, be sure to tell the rest of us. it will not come from any advice you will find in the newbies thread. That's what I figured. I won't be doing anything of the sort that but I was just curious of the "if you had to try, how would you do it" and wasn't sure of the best thread to ask.
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Mar 29, 2024 14:31
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Probably pull a Fred Smith / FedEx
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Mar 29, 2024 14:35
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Muir posted:A student loan may very well be the first time someone is encountering these concepts in their life and dealing with them first-hand. I don't think a bit of explanation is unwarranted. Yeah, this just reads like a super basic explanation to help people understand how it works.
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Mar 29, 2024 14:38
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If you want to mess around with simulators, the FIRE folks have made some. cfiresim will run your investment / expenses against historical economic numbers for the past ~150 years of the USA's existence. Rich, Broke, or Dead? also mixes in actuarial tables, but has less fine-tuning on stuff like when your pension kicks in or adding extra medical expenses late in life. But yeah, both of those are gonna tell you that you go broke long before you run out of lifespan, unless I suppose you choose a particularly reckless lifestyle.
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Mar 29, 2024 14:41
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You're looking to make approximately 52% annual return on $100K. That's basically impossible without taking extraordinary risk that's likely to end up with less than you started with.
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Mar 29, 2024 15:54
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You’re asking the safest way to make ~50% APY? Roulette comes to mind because at you have a 48% chance compared to other things that would yield that gain like day trading.
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Mar 29, 2024 16:11
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I think the only consistent ways to do this are all crimes OP.
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Mar 29, 2024 16:49
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is there like a thread-preferred crime or idk is there a crime megathread somewhere I could reference
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Mar 29, 2024 17:02
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I dunno, I keep getting WhatsApp messages from people offering to show me how to make 2% per day in either forex or crypto. The crypto based ones will even show me how to do it for free.
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Mar 29, 2024 20:15
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DildenAnders posted:I think the only consistent ways to do this are all crimes OP. Not true, Nancy Pelosi and her husband regularly get returns this high (or even higher). So the answer, OP, is insider trading, just make sure you win a seat in Congress so it's legal.
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Mar 30, 2024 02:48
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OP I know a legal way to get 50% returns. Everybody knows that if you spend cash money before you deposit it then that money never existed in the first place. Find $5 in your sofa? That's a free $5 to spend on whatever you want. So what you need to do is buy something with a debit card and then return it for cash. "Lose" the cash somewhere and "find" it a month later. Deposit it back into your account and viola, you just made 100% returns. You can do this an infinite amount of times.
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Mar 30, 2024 03:13
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Ham Equity posted:Not true, Nancy Pelosi and her husband regularly get returns this high (or even higher). Nah, they're just buying tech stocks with leverage. Its not a particularly unusual hobby for wealthy people who live in the Bay Area.
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Mar 30, 2024 03:30
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drk posted:Nah, they're just buying tech stocks with leverage. Its not a particularly unusual hobby for wealthy people who live in the Bay Area. I don't know poo poo about the specifics on Pelosi, but lots of congresspeople do insider trading all the time. So I concur with Ham Equity.
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Mar 30, 2024 13:32
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You kind of need to know the specifics though to distinguish insider trading from just being a good investor or speculator...
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Mar 30, 2024 14:41
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drk posted:Nah, they're just buying tech stocks with leverage. Its not a particularly unusual hobby for wealthy people who live in the Bay Area. While the second statement is in fact true, what rock have you been living under to even type out the first? It's very well know and provable with public filings that congresspeople have been insider trading since forever. Yes, including specifically Pelosi.
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Mar 30, 2024 15:13
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Agronox posted:You kind of need to know the specifics though to distinguish insider trading from just being a good investor or speculator... An extremely common pattern: there's a closed-door meeting in Congress about some topic, then attendees at that meeting sell off stocks, then a public announcement is made that tanks those stocks' values. Is the evidence circumstantial? Sure. If regular people were involved, would it be enough to, at bare minimum, trigger an investigation and unsealing of the closed-door meeting details? Absofuckinglutely.
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Mar 30, 2024 15:39
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Motronic posted:While the second statement is in fact true, what rock have you been living under to even type out the first? Here's a list of all the Pelosi's trades for the past year and a half. Its not *only* tech, but its almost all tech. As far as the leverage bit - I thought it was well known that one of their primary strategies was buying long dated ITM options.  As far as the insider trading bit, I admittedly only briefly looked into it and could find no evidence of it being true (politifact calls it false). Just a lot of people claiming that she must be insider trading because they have made a lot of money.... buying tech stock options? A *lot* of people do that in the Bay Area. A lot of people do that on these forums.
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Mar 30, 2024 17:11
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drk posted:Here's a list of all the Pelosi's trades for the past year and a half. Its not *only* tech, but its almost all tech. As far as the leverage bit - I thought it was well known that one of their primary strategies was buying long dated ITM options. I mean, it's 100% true that her position gives her insider access to information before the common folks get it. People with that kind of access, working for the government, should probably not be allowed to trade stocks.
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Mar 30, 2024 17:24
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this politician insider trading discussion has run its course for the BFC Newbies thread. take it to a politics subforum, the stocks thread, the BWM thread, basically anywhere but here. thanks
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Mar 30, 2024 17:52
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Another question: If I have student loans with interest under 5% and HYSAs currently pay 5.3% I should just never pay them right? Choose the longest term repayment plan with the lowest monthly payments (but highest total amount paid) and then only ever do the minimums, invest extra cash into bonds or index funds or something instead of using it to pay down the debt. And then possibly cash out those investments to pay the loan balance if rates go down? Or is there some subtle complication with interest gains that changes the math here.
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Mar 30, 2024 23:55
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You pay taxes on bank interest as income
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Mar 31, 2024 00:06
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THF13 posted:You pay taxes on bank interest as income Student loan interest is above-the-line tax-deductible, though, meaning you can take it as a deduction even if you itemize.
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Mar 31, 2024 02:46
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Is there a small/home business thread or place where that's discussed on here? I'm starting a lil ol' sportswear brand, and I've got a lot of questions: When should I form the LLC (before I sell anything?)? When and where should I open a business bank account? What bookeeping software do folks recommend? Any other software/excel templates that folks like for tracking various metrics? I'm also curious about advertising on instagram (e.g. how much I should budget for that, how to make it more impactful, etc). I know this is a real scattershot question, but I'd appreciate any resources on the above or tips on avoiding any common pitfalls in starting an e-commerce shop.
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Apr 4, 2024 17:11
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I would suggest that you need an attorney and an accountant. Before you sell things. Could you DIY this cheaper? Sure, if everything goes well. But if it doesn't you're gonna pay through the nose because your template-incorporated-by-a-papermill org wasn't really set up properly, or you miss something in your specific jurisdiction about taxes because you decided to use quickbooks and never got an accountant to help you set things up.
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Apr 4, 2024 17:29
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Head Bee Guy posted:Is there a small/home business thread or place where that's discussed on here? I'm starting a lil ol' sportswear brand, and I've got a lot of questions: When should I form the LLC (before I sell anything?)? When and where should I open a business bank account? What bookeeping software do folks recommend? Any other software/excel templates that folks like for tracking various metrics? I'm also curious about advertising on instagram (e.g. how much I should budget for that, how to make it more impactful, etc). every now and then someone asks if we have a startup or small biz owner thread and the answer is basically no. some exist in the archives but are not active. if our community has aged into the range of wanting such a thread, i highly support someone stepping up and a posting a new thread about it.
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Apr 4, 2024 17:36
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In a perfect storm of mail theft and bad delivery timings, my mailbox was broken into at least 7 times last week by someone with a master key. It appears that they took the following: 1) Paper copy of my tax filing from my accountant 2) Replacement driver’s license 3) Vehicle registration sticker. I’ve already hit the typical credit bureau “lock it down” stuff, given the amount of info the thief got. What else should I be locking down / contacting that I’m not thinking of?
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Apr 8, 2024 05:47
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My wife is evaluating a job offer. It's in her time zone and the hq is down the road from our house etc. But it's less money than she's making right now. Trying to evaluate the out the door cost of switching jobs Using very round numbers, if we're in the 30% tax bracket and it's a $10,000 haircut, does that mean realistically it's a $7,000 lower take home? And we're in California so we're in the 10% tax bracket so subtract another $1000 right? So she/we lose $6,000 but is no longer traveling an unpredictable 3-10 days a month. That's a pretty easy pill to swallow compared to $10k
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Apr 8, 2024 16:48
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Hadlock posted:My wife is evaluating a job offer. It's in her time zone and the hq is down the road from our house etc. But it's less money than she's making right now. Trying to evaluate the out the door cost of switching jobs Not quite that simple, because you're putting money into 401K and whatnot from that 10K before the taxes get taken out. Sounds like you really want her to have less commute and travel though, so its probably the right move anyway, no matter if its 8K or 9K. At least as long as its a good fit otherwise, decent prospects, and she's excited for it. I'm guessing you're on your benefits, so those aren't really entering the equation at all?
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Apr 8, 2024 17:07
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Yeah dropping your commute to almost nothing is worth a ton of money in my mind. I took a new job years ago that was easily a 20% pay cut from what I was making before but it was a 4 mile commute vs 40, and I don't regret it for a second.
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Apr 8, 2024 17:14
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Medullah posted:Yeah dropping your commute to almost nothing is worth a ton of money in my mind. I took a new job years ago that was easily a 20% pay cut I guess the big thing is we recently (less than one year ) bought a house and paid our own way moving back to California so with bonus season behind us we managed to just finally dig ourselves out of debt and would be nice to start accruing some legit savings besides the bare minimum 6 month cushion. I was kind of big time gambling that we wouldn't have any major financial expenses pop up in the last year but everything turned out fine. Plus we have some renovations we'd like to save up for, and the wife wants a secondary daily driver car etc. We already took a pretty big (5%) tax haircut moving from NC to CA not to mention CoL adjustment etc
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Apr 8, 2024 17:29
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If she takes the job, how much longer would it take you to save up for those renovations assuming no major unplanned expenses?
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Apr 8, 2024 17:42
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Motronic posted:I would suggest that you need an attorney and an accountant. Before you sell things. I second this. I found a lawyer who I could speak with in a free consultation, and ended up paying them to do all of the paperwork to set up the LLC and also create a client service agreement to properly contain risk of angry client blowback. And there may be state licenses required if you are selling physical goods (I'm not). Also got a recommendation for a very good and reasonably priced CPA. Talking with a lawyer is a great idea as a step-zero.
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Apr 8, 2024 23:29
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Hadlock posted:I guess the big thing is we recently (less than one year ) bought a house and paid our own way moving back to California so with bonus season behind us we managed to just finally dig ourselves out of debt and would be nice to start accruing some legit savings besides the bare minimum 6 month cushion. I was kind of big time gambling that we wouldn't have any major financial expenses pop up in the last year but everything turned out fine. I would think that one of the big advantages of living close to work would be not needing a second car.
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Apr 8, 2024 23:36
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We're talking close on a continental scale
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Apr 9, 2024 00:09
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Serious_Cyclone posted:also create a client service agreement to properly contain risk of angry client blowback Absolutely critical for service providers, and will not come with your template incorporation. Great call out.
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Apr 9, 2024 00:10
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Sundae posted:In a perfect storm of mail theft and bad delivery timings, my mailbox was broken into at least 7 times last week by someone with a master key. It appears that they took the following: Fill out an identity theft affidavit with the IRS to get an identity protection PIN and lock down your tax file. e: I speak from experience here - someone filed a fraudulent return with my info in 2016. It was a huge pain in the dick and took 4 years to fully resolve. SlapActionJackson fucked around with this message at 23:57 on Apr 9, 2024 |
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Apr 9, 2024 23:49
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SlapActionJackson posted:Fill out an identity theft affidavit with the IRS to get an identity protection PIN and lock down your tax file. Thank you. I didn't even consider that. Just printed, will fax it in tomorrow.
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Apr 10, 2024 05:05
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