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Thread: Money Talk....

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    JA Soca Ambassador socapineman is offline
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    Money Talk....

    Anyone out there making loot ? where do you invest or save ?

    have any financial ideas you want to share or bounce around ?

    for starters two sites to look into for saving :


    http://www.gmacbank.com/


    http://home.ingdirect.com/




    " People don't plan to fail, they fail to plan "

  2. #2
    Poca
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    Acuiti High Income has very high return.

  3. #3
    JA Soca Ambassador socapineman is offline
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    Quote Originally Posted by soraya
    Acuiti High Income has very high return.

    Is that a mutual fund ?


    If not what is it ...and why would i be interested in a income fund if I am not retired yet ?
    Last edited by socapineman; 03-29-2006 at 11:28 PM.

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    Registered User trinidarkie is offline
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    I am not exactly making loot but the best advice I have ever received and will probably ever give is to get a financial advisor.

    I work in with Investments everyday and I still don't invest my own money.

    Reasons

    1) They have the know how. Too often ppl may be risk adverse but yet still invest in stocks because that is what town says and when they lose their money, they want to know why. It is their job and knowing quite a few of them, I can honestly say that they are generally pretty good.

    2) They have the resources to access securities e.g Mutual funds which you may not be able to invest in yourself unless you are quite wealthy.

    3) Starting early pays off. You would be surprised how far a monthly payment of 100 could go.

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    Registered User trinidarkie is offline
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    Quote Originally Posted by socapineman
    Is that a mutual fund ?


    If not what is it ...and why would i be interested in a income fund if I am not retired yet ?
    Depends on your risk profile, some ppl (not retirees) prefer to see a semiannual payment to put their minds at ease.

  6. #6
    Poca
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    yes it is a mutual fund

    Quote Originally Posted by socapineman
    Is that a mutual fund ?


    If not what is it ...and why would i be interested in a income fund if I am not retired yet ?

  7. #7
    JA Soca Ambassador socapineman is offline
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    Quote Originally Posted by trinidarkie
    I am not exactly making loot but the best advice I have ever received and will probably ever give is to get a financial advisor.

    I work in with Investments everyday and I still don't invest my own money.

    Reasons

    1) They have the know how. Too often ppl may be risk adverse but yet still invest in stocks because that is what town says and when they lose their money, they want to know why. It is their job and knowing quite a few of them, I can honestly say that they are generally pretty good.

    2) They have the resources to access securities e.g Mutual funds which you may not be able to invest in yourself unless you are quite wealthy.

    3) Starting early pays off. You would be surprised how far a monthly payment of 100 could go.


    Ok... I fully agree with you on # 3, you have to start sooner...than later, yes compounding interest is a wonderful word to learn.



    Now re : getting a Financial advisor.... I would not fully disagree with you, but i like what Suze Orman http://www.suzeorman.com/ have to say about that " You are looking at the best advisor in the mirror. "


    With the internet now there is no reasons why anyone should not be able to make sense out of what is an IRA, 401k, saving acct, FDIC.... I mean these are things we need to know ...where we can pass on these to our child/ren. Furthermore advisor or not you need to know something so you can judge if they know what they are talking about or if they are only driven by " fees. "
    Last edited by socapineman; 03-30-2006 at 12:56 AM.

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    JA Soca Ambassador socapineman is offline
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    Quote Originally Posted by trinidarkie
    Depends on your risk profile, some ppl (not retirees) prefer to see a semiannual payment to put their minds at ease.


    But keeping it real....a mutual fund with a yield of 3% even prime if you are lucky.... on a $1,000 investment in your 30s 0r 40s does it make sense to receive $30 dollars in cash ( as income payment ) VS. reinvesting that dividend payment ?

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    JA Soca Ambassador socapineman is offline
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    Where To Put Your Cash :


    From The Motley Fool

    http://www.fool.com/savings/shortterm/03.htm

    By Robert Brokamp (TMF Bro)

    There are so many places to stash your short-term savings. Here we present the résumés of the major aspirants:



    Checking Accounts

    Checking accounts are meant for transactions, not savings. That's why many don't pay much, if any, interest. However, some banks do combine the conveniences of checking with the return of a money market account. Also, as "asset management" accounts at brokerages become more feature-rich -- offering unlimited check writing, ATM access, and money market rates -- more folks are shunning the banks in favor of brokers.

    Pros

    * Your money is only a check or ATM machine away.
    * A bank branch is usually not far, often in your grocery store, if you're so old-fashioned as to want to deal with a human being.
    * As with all bank deposits, checking accounts are FDIC insured.

    Cons

    * Depending on the bank, you may not earn much, if anything, on the money in your account.
    * Many checking accounts require a minimum balance, and/or charge fees that are a pox upon your pecuniary patience.

    Savings Accounts

    In the old days, savings accounts -- or passbook accounts, as they're sometimes known -- were the most popular rest area for short-term savings. Fortunately, folks are getting smarter and parking their pelf in higher-yielding investments. The 1-2% you earn in a savings account isn't enough to even keep up with inflation.

    Pros

    * The money in a savings account is FDIC insured.
    * Account minimums are often low.

    Cons

    * The return on savings accounts are so low, some mattresses pay more in interest. (Not really, but what happens on mattresses is more interesting.)

    Money Market Deposit Accounts

    Money market deposit accounts are offered by banks, usually require a minimum balance, and permit a limited number of transactions (six transfers, three of which can be checks written on the account).

    Pros

    * Money market deposit accounts are very liquid. Most allow for easy access through checks, transfers, and even ATMs.
    * Since they are offered by banks, money market accounts are FDIC insured.

    Cons

    * Unfortunately, you may pay for the liquidity by receiving less in return than from certificates of deposit.
    * If your account falls below the minimum required balance, or you exceed the limited number of transactions, you might pay a penalty.

    Money Market Funds

    Money market funds are offered by brokerages and mutual fund families. These funds invest in highly liquid, safe securities such as certificates of deposit, government securities, and commercial paper (i.e., short-term obligations issued by corporations).

    Pros

    * With a money market fund, you can have the money in your hot little hands very quickly. Often, you can write checks or use an ATM card.
    * The returns on money market funds are typically higher than the return on money market accounts.
    * Issuers go to great lengths to keep the NAV (the price of each share of the fund) at $1, so your principal is relatively safe.

    Cons

    * Money market funds are not FDIC insured.
    * There is no guarantee that the NAV will remain at $1.

    Certificates of Deposit (CDs)

    CDs are debt instruments with a specific maturity, which can be anywhere from three months to 60 months (i.e., five years). Most CDs are issued by banks, but they can be bought through brokerages.

    Pros

    * CDs are very safe since most are offered by banks and are thus FDIC insured.
    * Depending on the length to maturity, CDs may pay more than money markets.

    Cons

    * Your money is off-limits until the CD matures. If you must, you can redeem the CD early, but you'll pay a penalty.

    U.S. government bills or notes

    "Treasuries" are backed by the full faith and credit of the U.S. government. Treasury bills mature in less than a year; Treasury notes mature between two and 10 years.

    Pros

    * Treasuries are considered the safest investments in the world.
    * They can be bought directly, commission-free, at TreasuryDirect.
    * They are exempt from state and local taxes.

    Cons

    * If you shop around, you might get a better return from money markets, CDs, and corporate bonds.
    * If you need your money before the security matures, you may not get back all of your original investment.

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    Registered User iPicong's Avatar iPicong is offline
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    I believe in Real Estate

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    JA Soca Ambassador socapineman is offline
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    Quote Originally Posted by nygee
    I believe in Real Estate

    Do you wish to expand... ?

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    Registered User iPicong's Avatar iPicong is offline
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    Quote Originally Posted by socapineman
    Do you wish to expand... ?
    Well, although I think the market is topping off now, there are still good investments out there. May it be land in places like Florida or from what I have been hearing the Carolinas. You cant go wrong. You buy in the right places the value wil go up. Even for rental properties, you buy in the right areas, let it pay for itself and by the time you ready to retire yo sell and take the profit. Dont get me wrong I also believe in these other retirement plans that help you lower your taxable income, but im scurred of facking with the stock market.

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    JA Soca Ambassador socapineman is offline
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    Quote Originally Posted by nygee
    Well, although I think the market is topping off now, there are still good investments out there. May it be land in places like Florida or from what I have been hearing the Carolinas. You cant go wrong. You buy in the right places the value wil go up. Even for rental properties, you buy in the right areas, let it pay for itself and by the time you ready to retire yo sell and take the profit. Dont get me wrong I also believe in these other retirement plans that help you lower your taxable income, but im scurred of facking with the stock market.


    Ok...like the saying goes...they are not making any more " land " ....I am in full agrement you you on the RE business.... i don't know if i would put Florida in the equation, if you don't own something there already or over the past five years, the prices are close to NYC RE prices....short of extortion !


    close to home ...you can't go wrong in Philly ( North ) South Philly is on lock already...the blacks sold out already...talking about Graduate Center... The best bet now is north of Center City or north of Temple Uni.



    Another area ... Baltimore... you can't miss ....DC is dead already,...five years too later to the Party....


    NC or SC.... I would only buy land or condos in these areas and sit on it....the problem is if you buy a house there to resell it....investors usually price you out by developing in new area....no one wants to buy a used house there unless it's in the city vs. where they can get a new house !

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    Registered User iPicong's Avatar iPicong is offline
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    Quote Originally Posted by socapineman
    Ok...like the saying goes...they are not making any more " land " ....I am in full agrement you you on the RE business.... i don't know if i would put Florida in the equation, if you don't own something there already or over the past five years, the prices are close to NYC RE prices....short of extortion !


    close to home ...you can't go wrong in Philly ( North ) South Philly is on lock already...the blacks sold out already...talking about Graduate Center... The best bet now is north of Center City or north of Temple Uni.



    Another area ... Baltimore... you can't miss ....DC is dead already,...five years too later to the Party....


    NC or SC.... I would only buy land or condos in these areas and sit on it....the problem is if you buy a house there to resell it....investors usually price you out by developing in new area....no one wants to buy a used house there unless it's in the city vs. where they can get a new house !
    dont sleep on the islands either, anything near the water on any island if still affordable, will also greatly increase in value. In the US all it takes sometimes is for them to build a highway from the city into the bush, and yuh have a real estate boom in that area. Some of the "ghettos" that they have been redeveloping have reached their peak. There is but so much money a person would and should spend to live in a developing area. Besides Philly I read an article in the Times last year about NYC investors were heading upstate new york to places like Albany.

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    Registered User socadahlin's Avatar socadahlin is offline
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    Socapineman, hats off to you for starting this thread! I'm really appreciating what I'm reading so far although I must admit that I am unfamiliar with some of the terms but hey...that's why the internet is out there to help. So I'll catch up on those. I'm not making much money at all right now but I have started seriously thinking about these kind of things because I really want to start out early and have better returns later when it will count even more. So to y'all money heads....carry on please!

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