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indigi posted:oof that sux. what are you buying xgro - it was like ~$22 cad when i liquidated, it's up to ~24.60 now. not the end of the world but at least i didn't FOMO my way into a lovely property. also taco bell b/c they sent me coupons and i can get a full day's worth of calories for $8 cad
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Apr 20, 2021 01:03
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Cold on a Cob posted:also taco bell b/c they sent me coupons and i can get a full day's worth of calories for $8 cad as good a reason as any to buy stock
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Apr 20, 2021 01:09
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Cold on a Cob posted:xgro - it was like ~$22 cad when i liquidated, it's up to ~24.60 now. not the end of the world but at least i didn't FOMO my way into a lovely property. I've been following your adventure and I'm glad you didn't. there are going to be a lot of lemons sold during this panic
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Apr 20, 2021 01:30
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I R SMART LIKE ROCK posted:I've been following your adventure and I'm glad you didn't. there are going to be a lot of lemons sold during this panic thanks  it's been a hell of a ride. i'm really glad my agent is an old friend of mine that i trust a lot. he steered me away from a few places that might have been disasters. he's got a good eye for cheap flips and unlike a lot of agents he steered me away from that garbage, or at least pointed out the flaws and red flags... like the one with a dehumidifier running in the basement in the middle of winter
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Apr 20, 2021 01:41
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honestly if you've never owned a home or have done some construction projects. there are simply a lot of things you will not understand about maintaining a property: water is the bane of your existence and you will inherent someone else's poo poo job buying a home is in part understanding those risks and determining if you got the money to fix it or can do it yourself. I guess you could become a flipper and just do cosmetic stuff to hide the horror stories 
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Apr 20, 2021 03:08
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yep. I did own a home for three years. in the first six months the hot water tank failed and the main drain got invaded by tree roots  all stuff I could afford to deal with but still shows how quickly things can happen. house rich but cash poor people don’t know what they’re getting into
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Apr 20, 2021 12:40
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Cold on a Cob posted:yep. I did own a home for three years. in the first six months the hot water tank failed and the main drain got invaded by tree roots
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Apr 20, 2021 14:12
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yep, with one caveat: americans have it better because they have fixed terms for the entire amortization of the mortgage; in canada we only generally fix up to 5 years at a time but interest rates will never go north of 5% again so who cares my problem is my choices are condo or rent and condos have more risk (imho) than a house generally does. at least with a house if someone's underfunding the maintenance it's you, the owner, and not a condo board that was hijacked by short term thinking investment owners who are keeping fees artificially low until they sell
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Apr 20, 2021 15:08
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I was told Doge was going up today
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Apr 20, 2021 15:33
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shyduck posted:I was told Doge was going up today no luck so far...........................
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Apr 20, 2021 19:02
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Smythe has issued a correction as of 19:24 on May 4, 2021 |
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Apr 20, 2021 19:06
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Off topic but the neighborhood councils in non-bougie areas have been genuinely surprising me with how effective they've been at taking care of local issues. Like mine just planted a poo poo ton of trees and is getting people to sign up to adopt one. Otoh there's still too many olds with too much time on their hands nitpicking on procedure. Somebody has issued a correction as of 21:51 on May 4, 2021 |
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Apr 20, 2021 19:08
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Smythe has issued a correction as of 19:25 on May 4, 2021 |
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Apr 20, 2021 19:10
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Smythe has issued a correction as of 19:25 on May 4, 2021 |
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Apr 20, 2021 19:13
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Sounds about right. My wife was sitting in on the green committee meeting last week and I swear she was at her laptop for three hours.
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Apr 20, 2021 19:14
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Zisky posted:Sounds about right. My wife was sitting in on the green committee meeting last week and I swear she was at her laptop for three hours. i feel bad for ppl who have to do zoom things without a BIg Compy and a few monitors to game on, read forums, etc, during these things.
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Apr 20, 2021 19:17
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Smythe posted:i feel bad for ppl who have to do zoom things without a BIg Compy and a few monitors to game on, read forums, etc, during these things. I stuck a camera on my TV so I can feel like I'm in Star Trek. People hate it 
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Apr 20, 2021 19:20
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Anyone make money yet?
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Apr 20, 2021 19:50
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Mr Hootington posted:Anyone make money yet? 
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Apr 20, 2021 19:51
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Good
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Apr 20, 2021 19:55
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Cold on a Cob posted:yep, with one caveat: americans have it better because they have fixed terms for the entire amortization of the mortgage; in canada we only generally fix up to 5 years at a time hey man, it's Hitler's Birthday
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Apr 20, 2021 19:56
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Victory Position posted:anything. I don't enough money ever to even begin to cover a loss even if a stock sinks by like -2% and normally i would add, don't touch anything with a reputation as an exotic or "high-yielding" investment if you're over 30 and under $2 million
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Apr 20, 2021 23:03
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Gazpacho posted:general guidance is to invest only with money that you are confident you won't need to spend during the next four years, so that you can adjust to any losses that might occur I’m saving money every week to give my nephew when he turns 18 (~12 years). is it stupid to keep in a high yield savings account as opposed to parking it in some index or mutual fund
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Apr 21, 2021 01:12
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indigi posted:I’m saving money every week to give my nephew when he turns 18 (~12 years). is it stupid to keep in a high yield savings account as opposed to parking it in some index or mutual fund what kinda yield we talkin bout here
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Apr 21, 2021 01:15
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Smythe posted:what kinda yield we talkin bout here it was 2.25 when I opened it but I think it’s down to like .5 lol
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Apr 21, 2021 01:16
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indigi posted:it was 2.25 when I opened it but I think it’s down to like .5 lol hmm.. number seems not very high. check out voo or other indexes idk do ur thing op. maybe some doge coin......................
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Apr 21, 2021 01:17
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then again maybve the market wil crater? nbody knows. this is the mystery !!!
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Apr 21, 2021 01:18
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Smythe posted:hmm.. number seems not very high. check out voo or other indexes idk do ur thing op. maybe some doge coin...................... what’s the diff between voo and like SPY or SPYX (I like to not invest in fossil fuels because I’m a stupid bitch)
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Apr 21, 2021 01:21
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indigi posted:what’s the diff between voo and like SPY or SPYX (I like to not invest in fossil fuels because I’m a stupid bitch) idk lol =D
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Apr 21, 2021 01:25
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indigi posted:I’m saving money every week to give my nephew when he turns 18 (~12 years). is it stupid to keep in a high yield savings account as opposed to parking it in some index or mutual fund yes, incredibly stupid
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Apr 21, 2021 01:26
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cumshitter posted:yes, incredibly stupid well gently caress you how about that
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Apr 21, 2021 01:28
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no, gently caress you. also just putting it in a high yield checking account wouldnt even keep pace with increasing tuition rates, your money would lose purchasing power in terms of how much college it buysindigi posted:what’s the diff between voo and like SPY or SPYX (I like to not invest in fossil fuels because I’m a stupid bitch) SPY just models the S&P 500, which includes energy sector companies. SPYX does the same but doesnt include companies that own fossil fuel reserves heres a summary of the fund from state street's fact sheet on the fund. this is how they define stocks as being fossil fuel free quote:The S&P® 500 Fossil Fuel Free Index is designed to measure the performance of companies in the S&P 500 Index that are “fossil fuel free”, which are defined as companies that do not own fossil fuel reserves. For purposes of the composition of the Index, fossil fuel reserves are defined as (i) thermal coal reserves, (ii) other non-metallurgical coal reserves (e.g., coal for chemical biproducts, coal briquettes, residential use, liquid fuel, cement production, paper manufacturing, pharmaceutical, alumina refineries, ferrochrome, anthracite) (iii) conventional or unconventional oil reserves (e.g., natural gas liquids, oil sands, condensates and liquid petroleum gas), (iv) natural gas reserves, (v) shale gas reserves, and (vi) oil and gas reserves that have not been disclosed transparently as specific types of oil or gas, or are disclosed as one aggregate quantity of oil and gas reserves combined . The Index is a subset of the S&P 500 Index (the “Underlying Index”), which serves as the initial universe of eligible securities for the Index. The Underlying Index focuses on the large capitalization U.S. equity market, including common stock and real estate investment trusts (“REITs”). but it doesnt really matter. unless you purchase a stock or bond at the time its issued youre not giving money to the underlying company or supporting them in any way other than that your tiny purchase created buying pressure, which pushes the price upwards and may benefit shareholders and highly compensated employees. but your impact on this as an average, individual investor is so minisicule that its like worrying about whether blowing up an atomic bomb will change the earth's orbit
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Apr 21, 2021 01:38
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indigi posted:I’m saving money every week to give my nephew when he turns 18 (~12 years). is it stupid to keep in a high yield savings account as opposed to parking it in some index or mutual fund currently there is no such thing as a high yield savings account outside of wishful marketing. if it is enough to put in a CD (usually $500) then you can get higher yields from that at any particular moment than from a demand account, but i wouldn't necessarily recommend locking in a rate now, while the Fed still has everything on life support.
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Apr 21, 2021 01:39
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cumshitter posted:no, gently caress you. also just putting it in a high yield checking account wouldnt even keep pace with increasing tuition rates, your money would lose purchasing power in terms of how much college it buys he’s not allowed to spend it on college cumshitter posted:but your impact on this as an average, individual investor is so minisicule that its like worrying about whether blowing up an atomic bomb will change the earth's orbit yeah I said I was a dumb bitch. I guess I should put it into an index fund then?
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Apr 21, 2021 02:00
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tbh i don't like being in the position of telling someone else how to take risks with someone else's money
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Apr 21, 2021 02:06
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indigi posted:he’s not allowed to spend it on college well i was going to add you can avoid gift tax filings by paying for tuition directly (gift tax is a bit of a misnomer unless you plan to die with an 8 digit estate). when you give him the cash make sure you notify your accountant to see if you gave above the annual exclusion. you wont pay any taxes that year if you do, but its not much hassle to file the additional forms to ensure youre square with the IRS quote:yeah I said I was a dumb bitch. I guess I should put it into an index fund then? yes. in SPYX if you want, its performance actually looks slightly better than SPY over the past few years but overall theyre very similar. which isnt surprising, if i recall correctly energy hasnt been doing great for the past 5 years or so.
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Apr 21, 2021 02:12
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Gazpacho posted:tbh i don't like being in the position of telling someone else how to take risks with someone else's money with a 12 year timeline its highly unlikely that even if we had another 2020 crash when he liquidated and transferred the money that any index fund would fail to outperform CDs or bank interest by a significant amount. the bigger concern is doing more research and figuring out what indigi's risk tolerance is and how confident they feel about maintaining allocation discipline with a simple investment scheme like buying Vanguard Total Bond Market and SPYX. also the tax implications from capital gains associated with periodic rebalancing and the eventual liquidation of the account before the cash is given to the nephew. it sounds like indigi just opened an individual account in their name, so everything that happens in it is under their tax ID and treated as personal investing. working with an accountant and figuring out what your expected tax bill will be in the year of liquidation would be smart. nobody would fault indigi for retaining some of the cash to cover his tax bill.
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Apr 21, 2021 02:20
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do y'all not have RESP-like accounts like Canadians for saving for college? tax deferred and then taxed in the hands of the student who is most likely "earning" nothing when they withdraw it so much less tax
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Apr 21, 2021 02:35
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nothing like an RESP plan where theres government matching funds. depending on the state you can start a 529 pland and either purchase future college tuition at today's rates or open a tax-deferred investment account where no taxes are paid so long as all of it is used for qualifying expenses like tuition, books, room and board up to a certain point, etc.
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Apr 21, 2021 02:43
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lmao at all the dorks on reddit who bought doge in the last few days
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Apr 21, 2021 03:09
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