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winddude

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reddit_finance_43_250k

like 45

j7d7hv

Do I proceed with my realtor?

So, I’ve been looking for my first multi-unit property since about March. With the way the market has been I had zero luck. I’ve been outbid, seller not accepting my loan, lost a 10k grant from the city, etc. it’s been a hell of a ride and nothing to show for it yet. My realtor has stuck with me through the whole process. This is important to me because I’ve been ghosted by 4 realtors. Now, I spoke to my moms landlord about purchasing his duplex. (This is the house I grew up in). I’ve heard in most situations where you buy from someone you know or it’s a deal that was never listed on MLS, you don’t typically work with a realtor. I really want to work with my realtor because she’s stuck with me through this tough journey for my first property. But I’m also afraid of scaring off the potential seller because I’ll now need sellers assist (even though I plan to add that amount to the total amount offered, I.e. if we agree on 200k and I need 7k for seller assist, I’ll offer 207k). My thinking is, if I have a realtor it will cut into his profits and he’ll walk. Am I overthinking this? If not please advise. **i know this seems trivial, but I’ve lost bids because small things like this**

realestateinvesting

Personally I wouldn't purchase a property from any friend or family without having a realtor involved. They spot things I don't even know I'm missing and make the entire process worry free . The guy stuck with you so maybe pay him out of pocket just for the world of experience that you don't have. Plus, he will be grateful for the work and down the road you have an ally for future purchases you can trust.

qb0zhy

What features to a house should you renovate in to reduce the odds of property damage?

For example, I found out that a real estate investor should make it so the bathroom lights also turn on the bathroom vent fan. There are probably many renovations someone could make to help stop stupid tenants from breaking things. What are some you'd recommend?

realestateinvesting

Replace all plumbing drain pipes and check for bad shutoff valves for sink and toilet. I replace faucets if they are over 10 years old or if they are a cheap brand. Bathroom faucet should be $100 and kitchen faucet at least 200. Waterproof flooring is a must in the bathroom. Replacing a toilet with a quality brand like american standard is a must if toilet is over 10 years old. Check silicone around tub and sinks .

mdfd3r

Appraisal for the hell of it

Does anyone periodically pay for appraisals outside of purchasing or refinancing just so they have a reliable estimate of what their asset is worth? One of my properties has an estimate of $440k on Redfin and $565k on Realtor.com. It sure would be nice to not have $125k uncertainty when doing financial planning. EDIT: After reading the comments, it seems like using a blend of (neighborhood ZHVI trend data)[https://www.zillow.com/highland-denver-co/home-values/] and the income value approach should be simple enough for even someone like me to get a reasonable estimate. Thanks everyone!

realestateinvesting

Why do you care what your asset is worth? No, really, why? If you’re trying to pull money out of it via a refi the the lender is gong to require it. So, just buckle up and go for the ride. If you’re trying to juice a personal financial statement with a value amount for your schedule of real estate, than just select whatever online website has the best price, Redfin or Zillow. Personally, I record both and just average the two and call that the comp. If you actually need an appraiser you’ll pay for it. Otherwise save your money. Edit: for financial planing I’d plan my house is either worth what I paid for it, or purchase price + 3% per annum.

hm566d

Dumpster Question

City ordinance states commercial multifamily complexes must adhere to $20/mo per unit for trash removal, 16 units occupied=$320/mo. The city hires a private company to do trash pick up 1 time per week. Commercial properties that are not multifamily complexes can contract with private company. If I contract with a private company, exact same dumpster size and weekly pick up, it is $80/mo. The city says they also offer removal of yard debris, couches, mattresses, and other things that tenants leave behind or throw out. The city would be making $2880/year off of just me. With that math I could rent a 40 yard dumpster 9 times/yr for the extra things the city so graciously removes. I told the city that I don't want to buy into their dumpster service so they now will not issue me a business license and gave a veiled threat of shutting down the renovations. It sounds like small town extortion. I'm not trying to piss anyone off because I plan to move back to the area in a few years and it is an everyone knows everyone type town but this doesn't seem right. Anyone else ran into similar issues with multifamily complexes? Ideas besides giving in?

realestateinvesting

Seriously? Ever heard the saying “you can’t fight city hall”? You have no choice here. City ordinance says X. You do X. Or move back, run for local government, win, and get the rules changed. You do you.

zp94cz

Previous owner paid my property taxes

I closed on a small apartment complex <30 units in September. I was paying all my property taxes this weekend and noticed this property's taxes had already been paid by the previous owner earlier this month (\~$10k). Thoughts? What would you do?

realestateinvesting

If the County has already published the taxes due for the current year by the time the sale transacts, they will usually pay it out of sale proceeds, and you will see the prorated amounts debited from seller and buyer aides. September might be late enough in the year for this to have happened. In my area it’s usually an October closing when start getting paid to the County by the title company. Look at your settlement statement to see if this happened. The title company will have taken prorated taxes from the seller either way, but if the county tax bill hadn’t already posted, then you would have received those prorated funds at closing (possibly as an offset to what you paid, in which case you could have missed it).

r9tyjd

Do you use Zillow's Zestimate?

For those who advertise their rental properties online, would you mind answering these 2 questions? 1) How good is Zillow's rental manager for getting eyes on your listing? 2) How accurate is their Zestimate? It appears that since potential tenants see that Zestimate, they can clearly see if your price is higher/lower than it and will go by that to make a judgement on your rent price..

realestateinvesting

Zillow has by far been my best source of quality applicants. Facebook will get you a ton of people messaging you, but very very few will ever be serious. Maybe Facebook is better for cheaper units, but for me, it is way more hassle than it is worth. Apartments.com just doesn’t have the volume of applicants looking for SFHs. Good for multi family.

y3ipac

Dealing with much older tenants

After making several deals that didn't go through I still don't have one BUT never give up! I submitted an offer today for two properties and an empty lot all next to each other. It's being sold as part of an estate sale and they just want to get rid of them. I think it's a phenomenal deal, and I'm really excited, and the numbers work out beautifully. The houses need some cosmetic work, but they're all fully rented. The biggest point of anxiety for me is that 2/4 units have very old ladies living in them. One has a caretaker who may not be entirely of sound mind, and the other lives alone on the upper unit (and has lived there for 23 years). The upper unit lady is so old/fragile, she piles her trash bags at the top of the stairs instead of taking them down to the curb so the pile has accumulated quite a bit (a lot). I guess I have a fear of needing to come into the unit one day and finding these ladies in a less than desirable situation (AKA dead). I'm curious if anyone has any stories of similar situations. How were you experiences with older or even disabled tenants? Did you make special accomodations for them? Are there any legalities I should be aware of (in NY)?

realestateinvesting

Get an emergency contact of one or two close family members. There will be a day when you need it. After being a landlord for a while, you will be glad to have these tenants. If the place is clean when you look at it and they pay the rent then you are good. Death is part of life and either accept this or avoid the deal.

ripaer

We always talk about using a local bank on this sub, but how can we evaluate if it's a bank worth working with?

I just moved to the Florida panhandle, and I have no network here. I am trying to find a local bank for an investment, following the advice on this sub. For example, this bank: http://www.fnbt.com/ is local, has physical branches, but their website looks like it was put together 20 years ago. They are also not using website security (https), so I don't see going to them. How do you suggest we determine if a bank is legitimate enough to work with?

realestateinvesting

Banks are not the best place to work with for real estate investing. Google DSCR loans and find a lending company that specializes in investment property. These loans are so much simpler and easier to get than conventional bank lending.

jt7ssi

Getting started. Not broke

Alright guys so I’m 33 years old. Not married, no children. Started an online business when I was 25. It’s still kicking. I did 2 lease options when I was 17 before the market crash of 08. Then became a bartender until I met my ex gf at 25 and was inspired to start my business a few months after meeting her. She left a couple years ago. But I want to stay on course. I did everything I told myself I was going to do as far as my financial ambitions EXCEPT real estate. I built up a 6 figure stock portfolio (currently up 45%, thank you corona), and 5 figures in savings. My business is scalable BUT it can disappear at any time. I’d like to diversify into real estate. Just to be able to sleep at night. I have a buddy in his 40s who has been a wholesaler forever, but every time we have a conversation it always goes back to people. I hate people 😂😂 so I’m thinking maybe building up a rental portfolio is the better choice? Thoughts? Open to any suggestions. Where should I start? BRRR? House hacking? I don’t like the house hacking idea because I actually like where I live. Condo by the water. I also have a friend in her 40s that’s been a rehabber and flipper for about 10 years but she hates it. Says she works way too much for what she gets out of it.

realestateinvesting

Hating people isn’t a good start, I know it was half joking but....this is largely about people. If you don’t want to flip/remodel, don’t want to deal with people and don’t want to house hack... Considering finding a property that can justify a property manager (multi-unit) and still cash flow.

e86l01

What are you doing with the cashflow you earn from your real estate properties?

I'm starting this real estate investing journey with a good friend of mine. For context we are about 26-27 years old. The plan is to buy 5 single family homes to rent them out within 5 years. Since we'll be working together, we plan on starting a real estate company together before we begin investing so that we can take advantage of tax write-offs. How we plan on buying 5 properties in 5 years: If we both invest in a property (in Charlotte, NC) that's around 185k , and put 20k each (20% is 37k) . . that'd mean we need a mortgage loan of 145k. If we do a 30 year loan, the approximate monthly loan payment would be $686. If we can do a 30 year mortgage and try to get rent to be around $1300 , that would give us $614 total cashflow each month. Let's round these numbers for simplicity: 600\*12 = $7,200 cashflow for the year. We would need just $32,800 to buy a similar property after a year or $16,400 each. After two properties (if we have the same mortgage & rent for both - not sure how likely that is)  the cashflow generated would be $14,400 / year. Next similar property (example): $40,000 (total downpayment) -14,400 (cashflow) = 25,600 (needed cash for downpayment for 20% down) / 2 = $12,800 each for the 3rd house.By the 3rd house the cashflow would be $21,600 each year. etc. etc. etc. for houses 4 and 5. \-------- That's the plan we have so far, and we plan on buying our first house in Q1 or Q2 2020. Questions that come up are: How are we going to handle the income from the homes if we're doing this together? We don't plan on touching any of this money for personal use / living expenses in the short term (At least first 5 years). We know we'll need to keep at least 3 to 6 months mortgage in cash on hand in case we can't find renters / maintenance fund and all of that. Would you put the cashflow generated in a shared high yield online savings account like Ally bank? And then withdraw as needed? Here's a potentially wild thought I had (not sure how many people do this - or if it's recommended - would love to know your thoughts): We can deposit the money in a joined bank account that feeds into a Brokerage Account that invests in the index fund VTSAX: [https://investor.vanguard.com/mutual-funds/profile/performance/vtsax](https://investor.vanguard.com/mutual-funds/profile/performance/vtsax) That way we're investing the cashflow in stocks and getting higher returns for our money. If one year the market dips , we'll still throw the cashflow in the brokerage account and just won't buy a property using that cashflow money. The thinking behind this is that if we put all of our cashflow into the index fund and the market goes down (in a worst case scenario), eventually when the market recovers, we'll be way better positioned to buy an even better property. \-------- After 5 years , we'll have 5 properties generating cashflow. At that point, we can decide whether or not it would make sense to sell off 3-4 of the houses and use the money generated to buy multiple multi-family duplexes that generate even more cashflow. Or maybe instead of selling the 5 , we could take the cashflow that is being generated by the 5 houses after a couple of years to put a downpayment on a duplex (That would give us 6 properties). What would be incredible is if we are able to get to a point where we sell it all and buy an apartment building with 12 + units. At that point we can take the cashflow generated from that apartment building, split it in half, and use that money as residual income for each of us to use as we wish. Still trying to figure that part out. But yea, I'm curious of what your thoughts are about all of this. I'm also curious to know what you do with your cashflow and how your store it. What would you do if you were us? Thanks in advance for your input !! \-Ayoayo123

realestateinvesting

I would keep in HYSA to escrow for property taxes and repairs./vacancy. You’re not talking about that much cash or that much time if you plan to buy a new house each time you hit $40k in cash. I wouldn’t complicate it by trying to chase stock market returns with it.

k4rfwl

Where do you list your rentals?

I'm new to the game. I am listing my primary residence for rent on Zillow, however it us is being really buggy. As soon as I list, it pulls it off market immediately. I have contacted Zillow about this but have not received a reply (anyone else dealt with this?). So...I'd like to know what else you all use to list your rental properties. I've heard Facebook Market Place is a good option. If you do that, what do you use to conduct background and credit checks? Do any of you use PM software like Buildium to list? Sorry if these questions are repetitive. A quick search in this sub didn't point me to any good threads.

realestateinvesting

I list through zillow and rent.com but also Facebook marketplace. FB gets most responses. For background check I go through my local apartment association. You pay an annual fee and have access to all nessicary documents for your city/county/state plus access to legal advice and discounted background checks. Worth every penny. They are designed to help the mom pop landlord so overall, having an apartment association 8n you bag ofbtricks is super useful.

e5jcg8

Should I sign with property manager now or wait until beginning of month?

I am in the process of closing on my first investment next week so my last step is getting my property manager in place. With the closing coming in the middle of this month, I need tips on if I should have the company take over day one or just have everything setup for them to start Jan 1st? Any help/insight will be greatly appreciated. Thanks

realestateinvesting

Engage them. With a property manager, it should be a long term relationship. IMHO, it will be more confusing for the tenant to interact with you and then the property manager vs. just getting set up with the property manager in the first place.

pvzpl8

Property Management company incentives -- how does this work for owners?

I've been strongly considering Property Management for our out-of-state rentals, but as I review PM-company terms, I keep feeling like I need an ELI5 for how this is supposed to benefit me as an owner. The following costs and conditions appear typical: * Every month, the PM company receives a percentage of gross rental income (10% where I am) or a flat fee per building/unit, whichever is greater * The PM company reviews all applications and chooses all tenants; I'm allowed to see their generic selection criteria (which are a lot more lax than mine would be), but I cannot see the applications or participate in any way * The PM company receives a fee for placement of a new tenant (typically, one month's rent or more) and a lesser fee for any re-signed leases * The PM company handles all maintenance requests without my knowledge or involvement; they get a flat fee (say, $150) for service calls -- even if it's to change a light bulb or re-light a pilot -- and they get mark-ups on all the work and material required; only costs above a certain threshold (say, $350) require them to involve or inform me prior to invoicing at the end of the month * The PM company keeps 100% of all fees due to lateness, bounced checks, etc., from (their selected) tenants * The PM company accepts zero liability for any damage done by (their selected) tenants; they do not have to help pay for evictions, and they get their cut even if (their selected) tenants stop paying Basically, they collect rent each month, and whatever's left after they take their various cuts, that's what they let me have. From discussing this with another investor, that remainder could be zero or even negative some months (he had no rental income for three straight months before he went back to self management). Their incentives would suggest they should place questionable tenants quickly so they can collect their fee without spending a lot of their own money on marketing and showing the units. And if the tenants are fussy or hard on the unit, that's better for them. And if the tenants pay late or need to be replaced quickly, that's better for them. All motivation for creating a stable situation that will be profitable to me are gone for them other than not wanting to be fired. What am I missing here? Am I just talking to the wrong PM companies? I would love to rid myself of the stress of trying to manage things remotely, and I would happily pay 10% gross plus a little more for this, but I can't see how an agreement like the above can possibly work out for me. Thoughts?

realestateinvesting

You're just being taken advantage of. Typically a PM company will take a percentage of the rent and another fee for a new lease. You can negotiate anything and everything. If you don't like their terms, find a different PM. For me, I won't consider a PM if they want a fee for a tenant that resigns a lease. It's zero work on them and doesn't command any sort of compensation what so ever. There should also not be any markup for service calls, that's literally what you're paying them to do. Also, you should never be having a PM company take care of something like a light bulb. Tenants should be responsible unless it's a specialty light/bulb. In terms of other work that the PM company handles in house like patching holes, paint, caulking, etc there really shouldn't be too much of a mark up if any. The whole point of the monthly fee is to pay for all of that averaged out. Most months you'll have nothing but are still paying your monthly fee and some months the PM may have to do one or two things. To me, it's a bad look and feels very nickel and dimey to have a PM upcharge you for something you're already paying them for. I pay 8% of gross rent and 65% of one months rent on a new tenant. Any resigning of a lease doesn't cost me anything and all maintenance and service repairs are billed at cost. Again, negotiate negotiate negotiate. Everything is up for negotiation and if you find terms you don't like find a new PM. PM's are a dime a dozen or at the end of the day just manage the unit yourself, it's quite easy and can even be done remotely.

hpcwtn

Advice regarding purchase of fourplex with existing tenants in Los Angeles

I am new to this subreddit, so sorry if I am asking a repetitive question. I am thinking of a purchasing a fourplex with existing tenants, two of whom are paying subpar rents (almost half the market rate) I don’t think I will be able to get the property as vacated, so what are my options to increase rents ? The existing tenants are on month to month lease Thanks so much

realestateinvesting

Assuming the property is located in Los Angeles rent control (city of LA built before 1978) you can only increase the rents a set amount a year (currently 4 %) if part of LA RSO. If outside of LA RSO you’d still be subject to state rent control unless the property is less than 15 years old. Even if they’re month to month you can only evict for cause. What most people do is either wait them out or offer them money to voluntarily leave. The system is complicated and very tenant friendly. You definitely want to be working with an experienced advisor (agent, property manager, lawyer or someone) if you don’t have experience here. Feel free to PM me if you have questions.

nqnh9n

Difficulties starting young?

Hi! I (22m) have been studying the market and important real estate concepts for some time now in anticipation for my first rental property as I am close to what is a decent down-payment on a multi family in my province. As the once dream plan is slowly looking like a reality I have moments of doubt and especially in regards to my age. I don't even want to mention it to friends as some are still deciding what to do in regards to work/school and I would feel inconsiderate talking about rental properties and real estate opportunities. I also am concerned of real estate agents and other services along the way attempting to take advantage of my age an inexperience. Does anyone have similar feelings/experiences or some general advice? I'm in south west Ontario for those wondering.

realestateinvesting

As someone around your age, I closed on my first, and only, house at 20. I inherited tenants that I was living with at the time, and learned a lot. They have moved on, I still own the property, and I am working on some remodels and also trying to secure a loan for a second property. I can tell you that age has nothing to do with it. I'd argue the earlier, the better. That being said, take any freetime to LEARN about anything and everything you can in any market you plan to invest in. I reccomend biggerpockets if you arent listening to then already. They have great podcasts on spotify, youtube, and a blog. They have several episodes dedicated to young people and new investors that opened my eyes to strategies I'd never considered. Take time to practice running numbers and mocking up deals so you know a good deal when you find one. Call a few realitors and explain your situation, see if you can find an 'average' comission rate so you'll know when someone is trying to take advantage of you. At the end of the day, knowledge is power. Especially when it comes to investing. Find pocket deals, make connections, and learn. You'll go far if you can stick to it. Best of luck

n6qgbw

How exactly do I serve a pay or quit notice?

Tenant did not pay rent today after being reminded it was late. Told me it was his bank but then ignored me. I don't want to seem like the hardo landlord, but I'd rather not deal with the excuses. So, how exactly do I serve a pay or quit notice? Can I simply text my tenant tomorrow and use that and the little 'delivered' as proof? Or do I need to drop off a written letter? What should it state? Just a simple '10 day notice to pay or vacate' Do I need to file anything legally tomorrow? Or is that something I do on the 10th day of non-payment. Any info is helpful.

realestateinvesting

It sounds like what you need to do is contact a real estate attorney that handles evictions. If you don't know the steps to take to evict a tenant you also don't know all of the different ways you can shoot yourself in the foot while doing it. Best to pay for the experience of someone else than to end up paying damages to your tenant.

7xqnat

Duplex price question

Hi guys, I am looking at a duplex in a really really hot part of my city (by far the most expensive psf area). It is listed at 489k and it has 2 1600 sf sides. One side is rented for 2,000. We would live in the other side for at least 8-10 years. We put an offer in at list, and they said no way, they are going to get way bigger offers after the open house Sunday. Can you guys help me determine what our max offer should be knowing we are going to keep the 2k tenant for at least another year, and knowing we have been looking at 380k single family houses in the area which are similar size. Thanks

realestateinvesting

Well, I can tell you that as a real estate investor I wouldn't pay anywhere near $500k for that. My general rule of thumb (before I get into the nitty-gritty with spreadsheets) is that I need to pay around 80 times the gross monthly rent on a property to make it cash flow in a way that is worth my while. Let's say that this place is being rented at under list and you really should be getting $2500/mo for the occupied side. And let's say that the other side is nicer (another half bath, anyway), so you should be able to get $2750/mo for that. Those are just random numbers, so don't take them too seriously... To me, that means that I should be looking to pay ~$420,000 for this place (80*$5250). If the expenses are particularly low, you have reason to believe vacancies are going to be rare (and owner-occupying half does help with that), the building is in amazing shape so maintenance/repairs will be lower, etc, then there might be room. But when you're talking about paying >$500k for a place that gets $5000/mo in rent then I'd rather rent it than own it. Some people are willing to pay way more when they're going to owner-occupy, but I have never understood that. If an investment property doesn't stand on its own as an investment, then why buy an investment property?

lzug18

$100k profit taking

There has been a lot of speculation that when BTC reaches $100k there will be such a massive profit taking that it will send the price crashing down to ~$50k again. Do you think this will happen? If so do you have a strategy to take profit also or will you just ride it out?

Bitcoin

The higher we go the less appealing going back to fiat becomes. Bitcoin is anti-fragile, sellers become losers filled with regret the dips become shorter and smaller. When we reach 100k we go on to 200k much easier than back to 50k

idgps7

Goodbye Guys.. Time for me to move on. GL to all..✌️

I’ve made a lot and lost a lot with pennies. I’ve learned valuable lessons with pennies. But, as time passes, I grew and it’s about time for me to move out of pennies. A couple important lesson that I’ve learned with pennies are that: 1. Do swing trade plays, in addition with ER and Hype. 2. Play the short hand side when a penny stock is pumped. I use Webull for shorts. RH gets slaughter in BH & AH. I wish good luck to you all & hope to run into you guys again. 😭✌️..

pennystocks

I'm with you. Been playing the pennies for a year and Its time to move on. I set up a transfer of my long term big stocks to Schwab today. But I'll probably still jump in from time to time its just to much fun :) Good luck you to you!

syf4u1

Statistically speaking, you can't beat the market. Why do you try? (Serious)

Mutual fund managers who trade stocks for a living (Ivy Degrees, backgrounds in math, economics, computer science, etc) underperform the market 98% of the time. Why do you try to beat the market if people who do it for a living cannot? Do you think that you are smarter than they are, or that the market bears some resemblance to anything other than chaos? Is it a gambling thing? Is it fun? Any insight would be highly appreciated.

stocks

Less than 5% of the population has abs, so why even try? Less than 5% of the population has a master degree, so why even try? Less than 5% of the population earns more than 40K a year, so why even try? The fact that you think an “Ivy League” student has an advantage over any other person when it comes to investing already limits your mindset.

ta9aln

How to catch a pre market stock before the big rise?

​ [I \\"knew\\" it's going to go up, market opened at +150%, how can you buy before the jump instead of buying when its already +150%?](https://preview.redd.it/4hia9egzddm81.png?width=1243&format=png&auto=webp&s=ff3b93b396d040bb66a70d76aebff8a628175c40)

pennystocks

You have to get in as soon as there's a relative volume of X5 the average volume, and +2-3 million volume and usually at under $5. Using this filtering method will give you a dozen of stocks to watch closely and to jump in as soon as it starts exploding, not the day later. Make sure you read news and scan forums to know if there's an important piece of information that could explain this sudden move. You need a live time screener filter like Finviz (40$ a month, the free version has a 15 minutes lag on quotes). That's how I got in HYMC in the 0.30s (I noticed a sudden explosion in volume at around noon), I also knew gold was going up following the hype of the oil sector, and woke up the day later at $1. OR You can get on Benzinga and see a list of the most active pre-market stocks. Then, one by one, you can see them in live time, for free, in Yahoo Finance in parallel. (not selling a book, not selling a course, just explaining my 10 years experience of the cheapest easiest methods).

swjdap

Do you believe that BTC can reach 1 million in 10 years time?

I know no one knows shit about fuck. But do you believe that bitcoin will reach 1 million in 10 years time given all the slow adoption of BTC in every company. Fidelity, Cathy woods and prominent billionaires like Michael saylors thinks and believe that BTC will reach around that price target. Fidelity, BlackRock, and greayscale our some of the big institutions accumulating BTC on the sideline and giving way to major adoptions to conservative investors and curious investors who wants to dip in digital assets. Given that big institutions are entering the market are you seeing the bright future of BTC along the way. So do you buy whatever the price it? Do you accumulate continuously no matter what the price action it? Do you HODL and do you believe that we will reach this kind of market outlooks. I want to hear your opinions about this one.

CryptoCurrency

Maybe, but it would require a lot of worldwide adoption to get there. I’m personally targeting $575K, because that’s the point at which BTC would exceed the current market cap of gold. Will it take 10 years? Maybe, maybe not, but i do believe that based on current institutional and nation state interest we are trending towards that for now.

rvttw3

I’m going to be buying $150 each week of different undervalued stocks

Complete idiot here. I’m saving up money to move in with my girlfriend at the end of July. $135 a week is about what I would need, but in case I mess up I’m going to be putting $150 into it. I currently make about $2,000 a month working at a gas station. I’m going to DoorDash for a 2nd job while going to college. My rent is $1,087, my electric is $125, my bills are about $525. My gasoline cost is about $120 an usually my groceries cost me about $50 a month. Before DoorDashing I would only have $93 left over. I do get paid tomorrow, but as of right now I have $1 in my bank account. I know this is completely stupid an extremely risky to basically make my savings account my investment portfolio, but really what choice do I have? If you don’t generate capital in a capitalist system then you can never get ahead. I’m going to try to have some fun with my piss poor reality. Each week until I move out in July, I’m going to be buying $150 worth of different stocks, using different techniques an I will be selling them all at the end of July. Here are the current shares I have: NAKD - 7 shares - $5.40 PROG - 16 shares - $2.25 PTON - 1 Share - $35.20 SIRI - 2 Shares - $6.36 BIOL - 4 Shares - $0.42 Wish me luck, I will detail my journey each week

stocks

> I know this is completely stupid an extremely risky to basically make my savings account my investment portfolio, but really what choice do I have? If you don’t generate capital in a capitalist system then you can never get ahead. I’m going to try to have some fun with my piss poor reality. Seek help.

29owxc

Those who graduate college with a degree in finance, could you please outline what exactly you learned?

I am a lurker at r/personalfinance and r/finance and the more I read the more I realize how little I know. I'm a college student who has no technical skill with computers/engineering/science, and I don't want to waste my money on a degree like English or Gender Studies (no offense intended, fact of the matter is these are not very high-income, high employment majors). What can I expect to learn with a finance major?

finance

Roughly speaking, you learn how people make decisions on what to invest in. This ranges from a factory deciding what kind of machine to buy to an investor deciding what stocks to buy(or sell). I studied finance because I wanted to get into M&A Investment Banking, which in simplistic terms involves helping businesses sell themselves to investors or other companies. But I think the best thing about finance is that it can be applied anywhere money changes hands, which is pretty much everywhere in the developed world. Also, I learned how to bottles & models.

2j5zct

A positive note to the investors of /r/investing...

I'm pretty sure everyone has gotten slammed to some extent within the past couple of weeks or so. Personally, my IRA is in the red for the year, and my portfolio is just breaking even for the year. Some of you are probably thinking if you did the right thing, by investing in the stock market. I'll answer that one for you: **You did.** Because unlike the rest of the general population, you had the acumen to realize that stuffing your money into a CD or a savings account was not a winning strategy towards a comfortable and sustainable retirement. You were also frugal, paying down your debts, and saving your money. Most people aren't even capable of saving effectively, let alone having enough money to play the stock market with. **Your decision to invest in the market already puts you ahead of many.** If you are worrying about how the past two weeks has impacted your net worth, you probably shouldn't be in the stock market. If you are still worried, I have a bit of advice for you: Log off of your brokerage account. Stop reading Bloomberg for a bit. Go outside. Call up your buddy to see if he wants to get a beer with you this weekend. Go take your girlfriend someplace nice. Go and enjoy your life; life is too short to for you to be worried about your brokerage account's balance. Come back in a few months, and I guarantee that your portfolio will be up from your previous peak, if not even more. Why? Because you are an investor, not a speculator. You are in it for the long haul. If you are thinking about rebalancing, wait till the next bull cycle in the market - because you are bound to lose out on potential gains if you decide to rebalance now out of trying to second guess yourself. **TDLR: Worried about the recent volatility in the market? Don't be. Stop staring at your account balance, get up, grab a beer out of the fridge, head outside, and enjoy your life.**

investing

A few months? Doubtful... More likely this will be prolonged. The lipstick our central bankers applied on the economy was an emergency measure that surely helped but it obscured fundamental problems that will take years to fix. If you have anything important to do with your money in the next few years sell now. If you can afford to outlay some more wait a year or so and you'll get some good cheap deals.

z62uvj

Financial predictions by big Financial Giants for 2022 made a year ago - How wrong they were!

Source: [https://bluebellpwm.com/2022-sp-500-predictions/](https://bluebellpwm.com/2022-sp-500-predictions/) ## Serious chuckles ahead! January 6, 2022 **2022 S&P 500 Predictions** Every year, Wall Streets’s top strategist make a call of where they think the S&P 500 will finish. We wanted to share a summary of some of these target prices for 2022 and the strategist reasoning for it. Remember to take these predictions with a grain of salt as markets are hardly predictable no matter how much of an “expert” you are. **Morgan Stanley** **Target Price-4,400** **2022 performance: -7.7%** While the firm still expects solid EPS growth next year, “uncertainty around that expectation goes up materially given cost pressures, supply issues, along with tax and policy uncertainty that is unique to the U.S.,” the analysts wrote in the note. With the rest of the world having lagged the U.S. recovery, the firm sees more “catch up” potential elsewhere and less earnings volatility over the next 12 months. While Morgan Stanley does expect earnings for the S&P 500 overall to be solid, chief U.S. equity strategist Michael Wilson expects “significant” earnings dispersion at the stock level, making the year more about stocks than sectors or styles. **Wells Fargo** **Target Price-5,200** **2022 Performance: 9.1%** Persistent supply shortages and inflation pressures lead us to adjust the magnitudes of some 2022 targets, but we believe the global economy should still mark an above-average pace next year. More importantly, our tactical preferences for the next 6 to 18 months are nearly all unchanged. **Goldman Sachs** **Target price-5,100** **2022 Performance: 7%** “Decelerating economic growth, a tightening Fed, and rising real yields suggest investors should expect modestly below-average returns next year.” “In contrast with our expectation during the past year, corporate tax rates will likely remain unchanged in 2022 and rise in 2023. Corporate earnings will grow and lift share prices. The equity bull market will continue.” “While we remain vigilant on margins, we don’t think it makes sense to assume the worst on this front given the strong track record that companies have had managing through cost pressures even before the pandemic.” **Credit Suisse** **Target Price-5200** **2022 Performance: 9.1%** “This constructive outlook is based on robust projections for economic growth in both real and nominal terms, further margin upside in cyclical groups, a pickup in buybacks and a favorable discount rate despite Fed tightening.” **JP Morgan** **Target Price-5,050** **2022 Performance: 5.7%** A JPM team led by Dubravko Lakos-Bujas, chief U.S. equity strategist, sees further stock upside ahead, albeit more moderate, on better-than-expected earnings growth, easing supply shocks, improved background on China (which JPM upgraded to overweight on expectations for policy easing and as equity risk premiums from regulatory moves are priced in) and emerging markets, normalizing consumer spending habits and, most important, accommodative central banks. **BMO Capital Markets** **Target Price-5,300** **2022 Performance: 10.97%** The bank believes that investors are too focused on inflation, which should moderate as supply chain kinks get straightened out next year. Combined with solid corporate earnings, that should continue to drive stocks higher in 2022, BMO analysts said. What’s more, the size of the Federal Reserve’s balance sheet “will remain very large for quite some time, which should continue to be supportive of stocks.” **RBC Capital Markets** **Target Price-5050** **2022 performance: 5.7%** Like JPMorgan, the firm sees a slight gain for stocks in 2022, with heightened concern over rising Covid cases yet to derail the bull market. The new omicron variant is a reason for investors to “proceed with caution but not to panic,” RBC analysts said in a recent note. The firm did admit that there is likely to be more stock market volatility in the near term, especially as omicron could worsen ongoing supply chain issues. **UBS** **Target Price-4850** **2022 Performance: 1.7%** While stocks are “likely to have a pullback at some point,” strong corporate earnings and an eventual decline in Covid cases should help boost the market higher, the firm said. **Bank of America** **Target Price-4600** **2022 Performance: -3.48%**

stocks

I'd say MS was close enough based on what was known at the time, taking the implied FED rate hikes and "transitory" inflation narrative at face value at the beginning of the year, plus the Russia-Ukraine War was still considered a "training exercise". The rest of them, though, are pure hopeium.

mpauhg

Quit my job. Noticed something..

Hi, I've recently quit my job as the title says. I gave my notice and was going over my final payout amounts with my partner when she was looking at my timesheet and noticed something. For the past year I have been working 1am-9am, she mentioned that this means I should be getting a "late night" loading on my pay. The problem is, I haven't been recieving this. I made it clear to my now ex-employer who accepted it as fact and is going to try and sort it out. I contacted Fair work to confirm the details and it turns out my partner was right. I should have been getting more. Now my question is, will this amount affect my annual leave payout seeing as I should have been on a different hourly amount then I have been paid the whole time in this employment? Secondly, I am entitled to backpay, right? Thanks in advance and any other pieces of advicing on navigating this situation would be appreciated. Thanks.

AusFinance

You’re definitely entitled to back pay and depending on what state you’re in (can’t remember if it’s Commonwealth legislation- it’s been a loooong day) the org can face serious penalties if they don’t rectify this. Google “wage theft” and check if it’s applies to your industry.

yzz47j

The best budget tip to save money

I know the pros will say this is obvious but the best way to save money has to be having a dinner schedule and doing groceries delivered once a week. We are a family of five and spend $200-$250 a week on food. We have a monthly calendar with maybe 10 different dinners that are rotated. Main thing that costs money is going to the shops often and it being impulse/unplanned. And if you’re going after work then you’ll be tired and won’t care and will spend more. If you do once a week you get to sit back and plan. See how the checkout basket is looking while you pick. Hunt down specials. You don’t ever have to carry shopping bags. You save HOURS a week of time which you would have shopping… What are some other budget hacks??

AusFinance

Basically avoid buying new stuff and focus on waiting for the right second hand thing to come along. I buy most of my clothes and kid’s clothes from the op shop and shop at Aldi. You’d be surprised how many ppl get snobby about where they buy their food. Op shop toys instead of new plastic crap. Go camping instead of staying in hotels, spend a lot of time doing activities outdoors. Take public transport where possible (I live regional) Don’t drink a lot of booze and save it for a big Occassion where I’ll enjoy it rather than an every night to wind down thing. 100% agree menu planning is the way to go. I also found the website [No Money No Time](https://nomoneynotime.com.au) fantastic for recipes because it’s science evidence based meals. When necessary I buy high quality new clothing I know will last instead of cheap stuff when needed. Bought a phone outright and use $30 a month on credit - I’ve had the same phone for 5 years.

ol84a3

VAS+VGS tax advantages over VDHG

One of the commonly quoted advantages of VAS+VGS over VDHG is tax efficiency. VAS+VGS is more tax efficient because of two main reasons: 1. When you move from accumulation to distribution, you can sell the overperformer with VAS/VGS but you have to sell a piece of all asset classes with VDHG 2. Even though VDHG itself is a ETF, it's components are actually held as managed funds and not ETFs. And since ETFs are more tax efficient than managed funds, VAS+VGS is more tax efficient. This makes sense to me but what's unclear to me is the materiality of this tax efficiency. How much of an impact is it going to make? I want to understand the significance of this impact so I can assess whether I want to go with VDHG or VAS+VGS. Any insights would be much appreciated.

AusFinance

There was a really good post on /r/fiaustralia where they discussed the issue of tax drag, I'll see if I can find it. https://old.reddit.com/r/fiaustralia/comments/o9y0y3/request_to_vanguard_to_consider_using_tofa_for/

hjvdk0

Do accountants work less hours in the UK compared to the US? Big 4 and industry?

I have a job offer for tax in the big 4 uk. I don’t mind working long hours but I can see that potentially, working 60 hours a week forever would eventually take its toll on me. I’ve been reading threads on reddit about very long hours worked in the big 4 especially in the US but what I’ve seen in the UK it’s normally 40-50 hours in normal season which sounds reasonable to me. I’ve also heard that tax has less hours but the threads make it sound like this is not the case. So what is it really like working at the big 4 in the uk? Does it get worse the more senior you become? Is tax less hours than audit? And will it always be a better work life balance in industry?

UKPersonalFinance

I'm an accountant but not B4. We do use B4 auditors and many of my colleagues came from there. The hours they do are frankly disgusting. I don't mind working late now and then. We'd see them working past eight or nine on a regular basis. We'd also get regular communications from them on weekends. They all appeared exhausted and frankly a couple of them even smelt because they didn't have time to shower. Pay wasn't even that good either. What I found particularly shocking that they had 18 year old apprentice and he was having to do all this too. That said it's good experience for a couple of years and is very attractive on the CV. They were also pretty good guys and it seemed like they genuinely liked each other.

s8e9p7

This is not even close to a bear market yet, and you shouldn't lose hope in the market.

For a bear market to happen, it would take a lot more than just -42% over a period of 2 months. We've seen as much as -41% being wiped off the market in 2017 in a matter of weeks, yet the bull run kept continuing for months. It is not unrealistic to expect the same thing could happen now in 2022. # Comparing the May correction to the current one https://preview.redd.it/5ks3gv1qtsc81.jpg?width=1247&format=pjpg&auto=webp&s=0fbf56939bbe923c429c47518b6f608fe18a7ebb Bitcoin has also hit a pretty significant support level and is refusing to go below it. This is the same support level that Bitcoin held in late September before hitting a new all-time high. The bearish price action we're seeing is still nothing compared to what happened from May - July. In June/July almost everyone was calling for a bear market, but Bitcoin still recovered within a few months. # Hash rate shows market is undervalued rather than overvalued https://preview.redd.it/q3oxrse2ysc81.png?width=1273&format=png&auto=webp&s=f764e0eea23cb0b849bbe263a3456f9ec3d57033 Moreover, a bear market usually comes when the entire market is overvalued, which seems far from the truth considering Bitcoin hit a new hash rate high. If Bitcoin was overvalued, hash rates reaching new highs would be completely irrational as Bitcoin is not cheap to mine. **TLDR**: There is still hope in the market because there's still a high likelihood of the market bouncing back like it did in July and September. A -42% loss over a 2 month period is more of a correction than a bear market, and the metrics also show only one thing, and that is we are still far from a bear market.

CryptoCurrency

What makes me sad is the fact that when the market was on a bull run everyone was waiting for the bear market to happen so “they can stock up”. But when a small correction like this occur everyone panics and tries to sell their crypto.

99v6gx

What are the best investment apps or websites for small capital?

Hi, I’m looking to invest £150 each month into something but I’m not sure what! I keep looking at Hargreaves Lansdown, the Vanguard fund. I’ve never invested before, I’m currently reading the Unshakable book by Tony Robbins. He said to invest in an index fund like the S&P 500, is the FTSE 100 the UK equivalent? It’s obvious but I’m looking to invest with decent returns. Monthly dividends would be nice. But I just think I need pointing in the right direction! Thank you!

UKPersonalFinance

First time investor? This is long term savings, so if the market sinks the day after you go in you can afford to wait a few years for it to recover? What you want is an S&S ISA. You put your monthly contribution into the ISA, and through the website/app/phone/letter/etc you then channel the cash in your ISA into a fund of your choice. You can set up direct debits too. If you just want to dump it into “UK shares” then choosing a FTSE100 index tracking fund will do that just fine, I would suggest FTSE All-Share or a global index instead to get a more diversified mix. Vanguard funds are popular too. Dividends: you won’t get these monthly, every six months is more likely. I’d suggest reinvesting dividends to get compound interest but that’s your decision, not mine! The fund you buy will offer “income” or “accumulation” options; the first pays dividends, the second automatically reinvests them for you in an efficient manner. As it’s a fund in an ISA you can cash out no questions asked whenever you want (takes a few days to actually get the cash once you press “sell”). Plenty of people provide S&S ISAs, go for the one with the lowest fees that offers the funds you want.

gojr2e

What do you do to stop yourself from comparing your financial situation with others?

I see the quote 'comparing is the thief of joy' a lot and I know it's true. But I also know that it's human nature to compare. I want to know what practical things you do to stop yourselves from spiraling down when you compare yourself with others? Background, I just moved to the UK about a year ago. We were doing fine financially until my parents got swindled and we lost everything. We also lost our house to a fire. I have been working full time since I was 20 (earning equivalent of £250/month). I remember a time when, after paying my parents their monthly allowance (yup, Asian, and I give my parents money) and other unforeseen salary deductions, I only had £1.70 in my bank account that I can't even take out because ATM withdrawal is minimum £2 (all approximate £ equivalent of course). I have since improved (now 31), in that I can comfortably help my parents and have some left for myself. I have never been in debt (other than credit card that I pay in full monthly), I have an equivalent of my annual salary saved (in £), and a tiny (almost immaterial) investment. I look back to my "didn't even have £2" self, and feel good about how far I've come. Yet, when I compare myself to others -- like people who were born privileged, people who have been earning good all their lives, people who have to care for themselves only, I feel bad about how much better I'd be if I were privileged, too. I sometimes think that if I were "them", I could be a little more carefree and a lot less frugal. I just want to know if any of you feel the same way sometimes? And what sort of things you do to stop comparing? :)

UKPersonalFinance

I prefer to compare my financial situation now with my situation in the past, rather than compare myself with others. As long as you happy with your own progress then it doesn't matter what anyone else is doing.

7bemt4

I'm now the breadwinner due to unfortunate circumstances, now what?

Hi there, As the title suggests, I've recently became the breadwinner for me (25m), my girlfriend (23) and her teenaged sister. Unfortunately, this is due to my girlfriend's mother passing away very recently and I have decided to take on as much financial responsibility as I can to support them. I've been living here for around 3 months now and have been in part-time employment since the start of September and was basically a live in carer, alongside my girlfriend during her mothers battle with cancer. The situation is as follows; The house is mortgage free (luckily) so I just have to cover the usual utilities. The cost of which I have no idea of yet as we are yet to receive any bills and I've been told it's been handled by a solicitor. The funeral is tomorrow and we're yet to see any specific details in regards to the will but essentially everything is being passed down to my Girlfriend and her sister. With the exception that her sister won't be able to access substantial funds without permission from executors of the will and my Girlfriend until she is 25. But it's fair to say there will be a very decent sized inheritance so they'll be financially secure long term. I just appreciate that their inheritance is just that, for the long term, and is the silver lining in this whole situation. The last thing I want is for a their futures to be affected by burning through a good chunk of inheritance to pay for gas and water etc. Which is why I'm 100% committed to them in terms of providing short term financial security. My wage is well below average however but we can make it work. My contract is only for 16 hours a week at minimum wage (£6240 pa) but is topped up by extra hours as a manager at a rate of £8.35 ph and can range from an extra 10 to 15 hours per week. They botched up my pay last for the first 2 months of work as I was at a rate of £7 ph for all my hours but I will be receiving the calculated difference next month. - Luckily we live quite frugally, and live in an area with a relatively low cost of living (small village, my work is a 5 minute walk away) - I have no car, my SO does but the insurance has been paid in full since August and I pay for the fuel - their dad isn't it the picture at all but has offered to up the allowance he sends to my gf's teenaged sister to help support the household - my job prospects will improve once I pass my driving test. I will also have my gfs car and she will have her mothers. - my girlfriend will look for work soon. She's been unemployed since May because we actually left to work abroad for the summer, but we came back 2 months later once her mother fell ill. I lost my mother when I was 14 so I know what it's like and work is not a focus right now as long as we don't go into the red with anything. - her sister is in her final year of full time education at a local college, How this affects things like council tax I'm not sure But my question is, what now? I know I need to get in touch with the council so our tax is correct. A quick google search tells me the band the house is in equates to 1200 per year which terrifies me because that is a substantial chunk of my earnings. And I intend on getting an appointment with the citizens advice bureau at some point. I just want to get on the right side of the law asap. This is a lot to take on for us all and once the dust settles we need to carry on with life as best as we can and any help would be greatly appreciated. Thanks for your time.

UKPersonalFinance

OK my friend has been in this very situation. You are entitled to claim child benefit and child tax credit for your girlfriend's sister. It is a bit of a pain in the arse to claim but it'll give you another £4000 a year but it will only last until she leaves college/reaches age 20 (whichever comes first) if she's still at college. The HMRC tax credits helpline is who to call and they have a special department for dealing with claims made due to bereavement. If you can get your hours up to 24 (either you on your own or if your girlfriend can get a part time job with one of you doing at least 16hrs) then you'll be able to claim working tax credit "as a couple with a child" as well as long as her sister is still in college or an approved training scheme and aged under 20.

95c834

Self-employed for 10 months, haven't taken out any dividends, have around £40k in retained Profits, £10k expenses. Please advise on good practises?

Hi, I have been self-employed for around 10 months. My life is fairly simple so lived on the savings so far, have not taken out much in dividends or expenses. I have built up around £40k in Profit so far through my Ltd company. What should I be doing? Am I doing something wrong by leaving all this money in the Ltd company account? I know I should be drawing dividends regularly but haven't needed it so far but I think I will soon as my savings run out. I would like to minimise paying tax as much as possible.

UKPersonalFinance

You should be paying yourself up to the lower bound of National Insurance as a wage (£8k ish a year). This money has no personal tax and counts as an expense, so comes out before corporation tax. You then pay corporation tax on the remainder of your income after expenses. I suspect you'll also want to pay yourself a dividend up to the point where you'd have to start paying personal tax on it (you get £3k in dividends free, then you can use up the remainder of your personal allowance tax free). After that it is up to you - you can leave it in the company and continue to do this so that you always have a bit of a wage, assuming that at some point you might just want to live on this income. If you think it is going to be short term and that you'll skip back to being an employee, then you can close down your business and take out the money in entrepreneur relief paying only CGT (10%) on the first £10m rather than any income taxes at the end, so you should keep the money in there. Or you can take out as little or as much as you want - usually I try to limit myself to thresholds so that I don't pay over a threshold one year when if I evened it out over two years I wouldn't need to.

n9v9kw

How Do You Decide Between Buying “Quality" and “Scrimping"?

The cheap/expensive tea thread has got me thinking about recent changes to my spending habits: I've been making more purchases for longevity at the expense of buying cheap but sometimes, I think “would buying 2/3 of the cheap option last longer than 1 better quality option"? How do you factor for the risk that the expensive choice wouldn't even have a better cost-to-benefit ratio over the cheap choice?

UKPersonalFinance

I actually find it's not really a case of scrimping vs quality. It's either quality or don't bother. I've had tools and things break on the first use. I've had music gear that was more like an object pretending to be something it wasn't. A perfect example: cheap microphone stands. I did it a few times and really they are just junk! I'm very much in the mindset of if I need something, I'll buy it right. If I can't afford it, I'll do without it (or improvise). The world has a huge influx of total junk masquerading as functional items.

hcmn6v

Meaningful Work, Meaningless FIRE

Saw a post a few days ago that really resonated with me about the cost/benefit of optimizing for FIRE at the expense of present happiness. The reason it got me thinking is that I don’t think I fit the usual M.O. for FIRE - I thoroughly enjoy and am passionate about my job. That being said it hasn’t detracted from my desire for FIRE, I believe achieving financial independence will only empower me to work harder at my career goals (namely saving the planet, I work in renewable energy). But of late I’ve noticed a trend: I was hesitant to encourage my wife to go back to school for a degree she actually wants, not thinks she needs. I was hesitant to replace our uncomfortable and decrepit couch even though it was a reason we don’t sit in a room together as much (small house, only other place is our bed). It’s the reason I was hesitant to start filling our nursery (first kid, she’s 15 weeks!). Hell it was the reason I felt hesitation at getting pregnant in the first place! Maybe it’s time I let go a little. By giving myself a few hundred dollars a month more in spending I only have to add one year to my career to FIRE. And even then, I probably won’t want to end my career anyway. Thanks /u/competitiveduck for the post, it definitely shifted my perspective some.

financialindependence

As a person who struggles to spend money I am trying to take a new approach mentally. If I need it, I might as well buy it sooner than later so that I have more time using or enjoying it. This has helped me get out of the mindset of stretching things that need replaced.

ydxwwv

FAANG + Microsoft are still a genuinely attractive buy to me

Long story short I’m finding these 6 stocks to be very attractive currently for the following reasons: 1. Generating monstrous free cash flow each with their own future potential growth areas. All of these companies have proven highly innovative with very solid managements, especially AAPL, AMZN, GOOG, and MSFT, who are sort of in their own little tier. 2. Still have massive user bases, pricing power and most of us use their services daily. This is really the crux of the appeal to me. I don’t get how people compare these to Pets.com or even Yahoo. From what I see, they’re practically inescapable and on avg each person reading this thread probably contributes hundreds of dollars to each of their top lines yearly, either directly or indirectly. 3. For the ones that are less “gold plated” when it comes to the core of their business aka Meta and Netflix, they are currently trading at much much saner multiples than before, especially Meta, and still are solid businesses with moats and tons of FCF. I feel Netflix still offers the best service amongst the streaming platforms and is an innovative enough company to maintain its profitability and growth. It also has streaming as its core bread and butter business unlike AMZN and arguably Disney. Re: Meta, Metaverse may look like a weird bet but the VR/AR tech they’re investing in is absolutely industry leading and FB ads still have a massive moat in digital advertising thanks to Insta. Current valuation is a bargain when you consider their profits and growth. Hence, I feel there’s a decent rational logic to buying these stocks over the next year or so keeping a 10 year + horizon in mind. They might get killed over the next 1-2-3 whatever years but I find them to offer solid and reliable value. Thoughts?

stocks

It’s crazy that posts like these are getting downvoted. Sub about stocks, post trying to have an open discussion about stocks, and peons downvote. I will be buying GOOG, MSFT, maybe a little into AMZN here and there. I’d like AAPL to fall before I throw additional funds into it since I expect rising rates to catch up eventually. but don’t mind missing the bottom if we were somehow to go further up on a yearly scale from here, so I’d like to wait a bit. MSFT’s revenue breakdown is ridiculous and so is GOOG’s, definitely will be prioritizing them given the decline. They *should* be here to stay for a long time. NFLX and Meta though… I can do without

1bkwfq

[Prediction] Someone is going to "delete" $100k+ in the near future

I keep seeing these posts of new money looking to invest, what are obviously relatively large sums to them, without really understanding even the basics of what Bitcoin is. This is a disaster waiting to happen. A whale is going to make a purchase and then not understand the keypool and end up with coins in an address they can't access. Or they'll copy the wrong wallet or overwrite it with an old version, or any number of things. Imagine the mistakes your nan/parents make on a computer, only replace the .png file of last xmas that she's struggling to open, with a wallet.dat file. Think of the unsecured computers. The people with 28 toolbars running norton. Before you had to be at least interested in tech to have heard about bitcoin. This is where the two worlds collide and i'm pretty sure some people are going to get burnt pretty bad.

Bitcoin

This is why there is a market for bitcoin hedge funds, personal finance managers, bitcoin "banks" and similar money services, which target high-worth individuals and includes insurance. And then the people of /r/bitcoin can cry "centralization" and "missing the point" all they want, but it's going to be a good thing for Bitcoin.

qrvnld

Which is the stupidest project you have money in atm?

Like which coin or token do you have money in that you know is likely to never go anywhere, but you can't let go of because of some odd hard-to-explain attachment or weird/ now forgotten series of events? Is it a 'what if' kind of thing, a strange kind of nostalgia, meme value, etc.? Did it rise and fall and never recover and it's not worth the effort to cash in what's left? I have a lot of wallets with tokens I'm sure I had a good reason at the time to purchase, but now I can't for the life of me explain or justify - they're just kind of there and probably will be forever...

CryptoCurrency

Define “have money in.” I technically still have Deep Brain Chain from late 2017 early 2018. I put about $300 into it, saw it become $15k or so, and last year I finally deleted it from my Blockfolio so I could forget about the $0.40 once and for all.

nh6kty

This is probably the most complex cryptocurrency trading algorithm that I have worked on, and it detects potential moonings accross all Binance coins - oh and it's open source

I had an amazing time working on this project, and some redditors have been so engaged with it that they we have now established a developer community and to keep improving the algorithm. The algorithm analyses all the coins on Binance and tries to pick out the ones with the highest probability of a strong bullish movement. This is done by taking into account the price difference. If the price of a coin has surged in the past few minutes, the bot will take this as a buying signal. This is based on riding the trend strategies. ​ The algorithm has a many configuration options such as: ​ * The ability to select what to pair your coins to (by default USDT) * Amount to spend on each trade * Maximum number of coins that can be hold by the bot * How much does a coin need to gain (in %) before the bot buys * Stop Loss / Take Profit * Trailing Stop loss * Simulated live trading and more features to come ​ It's essentially a tool that you can customise as much as you want, but it also comes with a pre-defined strategy. ​ Anyway, here's the source code if you're comfortable with Python: [https://github.com/CyberPunkMetalHead/Binance-volatility-trading-bot](https://github.com/CyberPunkMetalHead/Binance-volatility-trading-bot) ​ And if you need a step-by step guide on how to install and configure the bot, you can use this: [https://www.cryptomaton.org/2021/05/16/trailing-stop-loss-and-more-improvements-added-to-the-binance-volatility-trading-bot/](https://www.cryptomaton.org/2021/05/16/trailing-stop-loss-and-more-improvements-added-to-the-binance-volatility-trading-bot/)

CryptoCurrency

Rock on man! I’m no high speed trader and I don’t use bots but I’m sure a lot of people here do! Awesome contribution and it’s cool to see that you’ve got a following of devs who will continue to improve upon it. Good stuff sir

93yb94

Bank of England raises interest rates to 0.75%, highest since 2009

[Source](https://www.bbc.com/news/business-45043776?ns_mchannel=social&ns_campaign=bbcnews&ocid=socialflow_twitter&ns_source=twitter) EDIT: [Handy graph for context](https://ichef.bbci.co.uk/news/624/cpsprodpb/C326/production/_98585994_interestrates-breaking-nc.png). As a 21 year old the concept of interest rates being up as 5% is bonkers.

UKPersonalFinance

Only half of the high street banks raised there savings interest rates to 0.5% when the BOE last increased them. I bet this increase is equally as slow to trickle down to the consumer. In contrast I bet the variable rate on unfixed mortgages will go up tonight if it hasn’t already done so.

okn7eu

I cannot afford to sell my shares

It's simple and the biggest reason anyone going short on GME is in big doodoo. ​ ***I've been imagining my life without slaving away to a 9-5 job for six months now, I cannot afford to sell my tickets to the life free of worry.*** ​ Regardless of the: \- shills; \- paid media articles; \- new and old DD; \- RC; \- me agreeing or disagreeing with GME being silent about the share's price movements. ​ It's all irrelevant to me. ​ I can afford to live my life the way I've lived it so far, from one paycheck to the other. But I cannot afford to sell my shares and a chance to a better life. ​ ***So I hold.*** ​ God bless GMErica

Superstonk

This! As a Europoor ape that has worked my whole life in construction couldn't agree more. I did have 15 years to pension but now the shitfuk politicians has raise the age with two more years. So in 17 years i can have my pension now. And my estimated pension payout are 40% of my today's salary. And my body are broken after all hard work so I know i won't last another 17 years. My only option is to hold the stonk at any cost and i mean any costs if i knew I would die in the near future i would still hold for my children's sake so they could have a better future. Btw, 40% of my salary are classified as very low income by the EU standard it's an income for the poorest in the EU. So wtf i won't sell, if i can I buy more. HODL buy stay retarded. 💎🙌 Edit: had to learn English the past six months to read all the DDŚ so excuse my spelling.

7axgdu

Can I get away with a 401k as my only retirement account?

If I️ decide to contribute 20% of my income to my 401k and leave it at that, is that okay? I️ understand the pros to owning a IRA account and that it would benefit me to open one but I️ just want to keep it simple.

personalfinance

I would worry LESS about the type of account and MORE about the amount of money. As long as you contribute enough (20% is good) and your investments are good (low expense ratios, well diversified, appropriate risk), I don't think anyone is going to say you are doing it wrong. MAYBE you will miss a bit in terms of tax juggling. But a lot of that is guess work anyway.

zpigbm

Rent Increased again

So I got a letter from my landlord that the rent increases again. When I first moved it it was like $1500. During COVID it increased to $2000. Now they bumping it to $2400. Last time this happens they basically said well it's lower than new residents and everywhere else. This time I decided to not renew. I went from making 10% contribution on my retirement to not saving at all. Now they want me living pay check to pay check. My whole take home will soon be housing costs. Funny thing is that I always see moving trucks leaving and not coming in. They have a huge mail theft issue and cameras not fixing it at all. I'm lucky I work from home so can move anywhere but most likely will be homeless if I can't find a place. I originally planned on looking and notified my job weeks ago but still. I live in a HCOL but wages are low. My job pays by location and we are the lowest paying region. I live in the South. They use BLS. At least I can can move but my income is above the median and I can't afford the rent. Who they leasing to the ultra rich if not the locals. I decide to check the vacancy rate as I was typing this. I think they have about 7-10% estimated vacancy rate. It does align with the vacancy rate in my state of 7%. Most of it being the 3 bedrooms as they are not selling I guess they are going for about twice as much as what I was offered. Ex. About 30-40 units available and about 400 units in total. Last time I was offered this I noticed people moving before my lease was over. So we will see if it increase. Maybe they might offer me a lower rate but I've been told I can't negotiate since they are a national company and discrimination, etc.

povertyfinance

From the landlords perspective it is just fine to drive vacancy rates up another 10-15% if they can collect 20% more rent from the units that are filled. That is the point of a lot of modern revenue management software; to get property managers to stop worrying about vacancy rates and focus on the bottom line. So even when you are watching a lot more moving truck leaving than coming in profits still might be up.

ju292d

£5 mistake on mortgage does it matter?

I'm buying a house for £xxxxx5, when I apply my mortgage, I stupidly rounded down the purchase price removing the extra £5 and never corrected it after. It does not change the amount being loaned by the bank, but is means that the purchase price shown on the loan offer is wrong by £5. Does it matter? Should I mention it to my bank with the risk of delaying the whole process? Edit : Solved thanks. On your advice, I told the bank who said they will just add an amendment to the loan offer. No delay 👍

UKPersonalFinance

Mortgage lenders are anal about everything and act like they're trying to reject perfectly good applications half the time for all kinds of stupid reasons. Tell them. I've had bank statements rejected because a (perfectly legible) photo of a document is apparently not the same as a scan and other stupid shit like that ¯\\\_(ツ)\_/¯

z365d9

A few tid-bits about RC's interview with GMEdd

Joe Fonicello of GMEdd is co-hosting a call with Rod Alzmann on Twitter right now so I took the opportunity to ask a few questions about the RC interview. I am paraphrasing here, this post is not verbatim. The call is being recorded if people are interested in listening. ​ Me: Regarding the interview, who reached out to who? Joe: RC's team reached out to me around 1 year ago and the interview took several months to come together after they got serious about doing the interview. ​ Me: Was there anything strategic behind the release date of the interview, or was it simply released when it was ready? Joe: It was released when it was ready. Rod Alzmann: (basically alluded to the interview being released after the WSJ article but unsure if there was any strategic / real reason for it). ​ Me: Was the interview entirely organic or did RC have some ideas about what would be discussed? Joe: There was a mutual understanding before the interview that some subjects would be off the table (such as future strategic plans) however it was otherwise organic. ​ That's it, after that the subject changed and I jumped off the call. Just figured I'd share in case anyone was curious!

Superstonk

I don’t believe for a second that it was an organic conversation. Every question was read off of a screen and there were no follow up questions or casual conversation. The fact that only the question of future projects was of limits blows my mind and if that truly is the case then the interview did a piss poor job of picking questions to ask. Don’t get me wrong, I still loved the interview and grateful it happened, but there were many more important and interesting questions that could have been asked.

7jaqmf

You might want to pay January 2018 mortgage in 2017 due to pending tax law (US)

Just a heads up but if you are in the US and itemize your taxes you may want to make an early mortgage payment before January 1st as then you are allowed to claim the paid interest in 2017 (Just for the month of January due to the payment and interest being in the month of December 2017) before congress possibly or in fact does away with lot of the tax deductions. Might save you some money, just make sure your payment posts in complete by December 31st.

personalfinance

The last version I read would grandfather in mortgages that were issued before November 2, 2017. Also, that is only the house plan. The senate version did not touch this, as I am aware. So, in reality, making an early payment wouldn't help you overall even if the house plan passes. It would still give you an extra interest payment to claim on your 2017 return, but you would still get the deduction, unless you bought a new house after November 2 (Refinances would still count as the original debt). Do a control+f for section "1302" Mortgage Interest if you want to read the source. https://waysandmeansforms.house.gov/uploadedfiles/bill_text.pdf Source: Sat through 8 hours of CPE yesterday covering these changes. Edit: Prepaying your state taxes (If you expect to have a balance due) might be a good idea though. Edit2: Spelling

rjtqrw

Daily FI discussion thread - Sunday, December 19, 2021

Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts.

financialindependence

I read financial reddits and forums so much that when someone mentions a money problem on a normal reddit I am taken aback. Someone was complaining that their car broke down and it cost $2,000 to fix it and they did not have the money. On here $2,000 is a quarterly dividend or a roundup to make math easier. It is far less than 1% of the net worth of most people here or at other places I post. And yet to most people $2,000 is an intimidating amount which could leave them in a real bind.

ncw6a5

German Apes keeping up the fight for the right to vote!

I don't wanna hype this thing too much, but I want our US apes to know that we keep up fighting for the right to vote here in Germany. Things have started to move a bit, the first German broker/bank (Comdirect via Tradegate)obviously sent proxy vote material for shares located at the central German clearinghouse. Today I sent an urgent (the 5th) mail to my bank to claim my proxy vote material with screenshots as evidence that this is now possible. The often heard generally knockout argument that the central clearinghouse here in Germany does not support it for shares located in Germany is no longer in existence. I haven't received the proxy vote material yet, but things seem to start moving slowly in the right direction. I keep up the fight! Imagine what will happen if the number of shares located outside of the US will become counted as well.....🚀🚀🚀🚀🚀 Keep you posted! ​ Edit: My bank is Consorsbank. Consorsbank is using the same trading platform (Tradegate) as Comdirect does. So there should be no reason anymore not to get proxy material.

Superstonk

Habe Trade Republik ne Mail geschrieben. Sie sagten,dass sie grade für unser Stimmrecht am arbeiten sind. Weiß nicht genau wie ich diese Mail deuten soll. Entweder arbeiten die wirklich daran, oder die halten uns jetzt erstmal hin, damit wir nicht sauer werden.

4fspez

4 Men with 4 Very Different Incomes

http://www.esquire.com/lifestyle/money/a44086/four-men-four-numbers/ I saw this article linked at /r/truereddit and I found it quite interesting. It's basically four interviews with four guys that have vastly different incomes and I thought that this fits really well with the sub since there are some explicit references to FIRE and the topic of "how much is enough" that is often discussed here is also very present. It's not super surprising, but I found the last interview pretty heart-wrenching.

financialindependence

What was interesting to me was, each guy says he his ideal income range would be ** approximately what the previous guys said ** I dont know if they planned to do that.. but I think the second guy hit the nail in the coffin when he says, 'When I get there I'll probably want a jet' (& hence more money)

rfsvsp

Harmony ONE does everything that ETH 2.0 has been promising for years, except they are already doing it. Why has every developer not jumped ship at this point?

Transactions are instant and cost less than a cent. Sharding Active ecosystem of Defi (Euphoria, Viperswap, etc.), gaming (Crypto Royale, Defi Kingdoms, etc.) NFTs (Kuro Shiba, Crypto Pigs, Da Vinci, etc.) and more. 10% APR staking Governance and voting The other day I bought some ONE, swapped it for WAGMI (an Olympus fork made by Venom DAO), staked it, and then wrapped it. The total cost to do ALL of that was about **.0000002 ONE**. This same set of transactions could have cost me upwards of $400 on Ethereum, and maybe significantly more depending on the day. On Harmony, it's basically free. I understand that ETH has first mover advantage, but there was a time when Yahoo! was bigger than Amazon, Apple, and Google. How much longer are crypto developers and users (outside of whales) willing to tolerate triple digit gas fees when competition like this already exists? It can't keep going for much longer imo.

CryptoCurrency

Ethereum has the best security for PoS Ethereum is more decentralized Ethereum is the only blockchain crypto right now that proved it ‘works’ with this amount of traffic. Look at the issues Avalanche and Solana experienced now that they got more popular. Ethereum has more dApps and developers

2b2p4v

Bitcoin friends, we want to help!

Hey all, GoodShibe here from /r/Dogecoin! We think that the proposed regulations coming out of New York State are something that has the potential to affect all cryptos and we want to make sure that our Bitcoin friends aren't standing alone. We want to help! We Shibes can be pretty media-savvy and we've done a pretty decent job of getting positive support from the media so far. Let's work together - see if we can't unite all coins, everywhere. Because what's going on here is a threat to cryptocurrency itself. And we're going to need numbers. Looking forward to working with you. Many thanks! GoodShibe EDIT: Here is the thread [where I've asked for permission/support from my fellow Shibes](http://www.reddit.com/r/dogecoin/comments/2b1yls/i_would_like_the_communitys_permissionsupport_to/) before posting here on your sub. EDIT 2: One idea we're playing with on /r/Dogecoin is the idea of a [Digital Protest March](http://www.reddit.com/r/dogecoin/comments/2b1scf/starting_a_cryptowide_digital_march_in_protest_of/). It's still very much a work in progress, but... it's pretty interesting! EDIT 3: Update! I've just now reached out to the mods to try and work out the specifics of how /r/Dogecoin and /r/Bitcoin might come to work together -- there's a plan afoot! Below is part of the message that I sent to the mods, hopefully it's the seed of a plan. And, by all means, let's consider all ideas! "I think the first step forward is to make sure we're all on the same page, to create some sort of an ELI5 Thread for the regulations while encouraging more support for the [Github Fork version](https://github.com/onenameio/proposed-bitlicense-regulations) that's being built. Even better if we can get people who are knowledgeable about this to break down why the changes matter, step by step. It's a bit of work, for sure, but the more people who understand the core mechanics of the actual problem (instead of just feeling frustrated that the Government is 'coming after' us) the better off we'll all be. Once we break down the biggest threats to their component parts, then we can start to work out how best to use them to create a campaign. I think that would be a good, solid step forward, together." EDIT 4: I've started a thread [to help us all unify our efforts]( http://www.reddit.com/r/dogecoin/comments/2b4r8a/organizing_a_united_response_to_the_nydfs/). Please come join us!

Bitcoin

Seriously, /r/Bitcoin, downvoting every comment he makes? He's bringing up a relevant issue, in a polite way, and it seems that all it's provoked in half of you is the "ooh, dogecoin, must downvote!" spasms.

9gvzyp

College Towns for Retirement

I’ve been thinking through geographic arbitration since I currently live in a HCOL major city which was great for my career and building wealth but too expensive now that I’m retiring. I’m attracted to LCOL college towns with a specific attraction to: Lexington, KY Chapel Hill, NC Gainesville, FL Auburn, AL Tucson, AZ Does anyone have experience living in these places? Thoughts on pro’s & con’s of retiring in a college town?

financialindependence

Living in a college town and also owning a rental beach home is a great strategy, imo. During the summer, live in the college town and rent out the beach place. During the school year, live at the beach and rent out the college house. Both houses pay for themselves in a symbiotic way.

v3v7xq

Daily FI discussion thread - Friday, June 03, 2022

Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts.

financialindependence

I just worked a 28 hour shift at the hospital. Happy to be the first for once, but definitely not worth it. In a financially related topic, I found out my wife’s work offers a random benefit that pays for student loan repayment. It’s only like $100/month but I would have had no idea they offered it except that I was just reading the fine print of her benefit package paperwork. It took a lot of paperwork back and forth, but it’ll be $1200 a year for free!

t033h8

Do I continue with the plan my Dave Ramsey Smartvestor Pro and I came up with?

Hey guys, I just turned 40 years old. I am married with special needs children who will likely need our support for the rest of our lives. My children are homeschooled, my wife is disabled, and we are a single-income family. Our three biggest assets are an investment property, our current home, and stock that I have in a private company. I decided to finally ask for help and I am a listener of Dave Ramsey and decided to give the Smartvestor Pro system a shot. I connected with a local fiduciary and had about a 3 hour long meeting with him. We haven't made any investments yet and I wanted to reach out to this community to see if I have already or am about to make any serious mistakes. Their rate is 1.4% Here is the plan: 1. Get term life 2. Change work benefits in adjustment to term life. Essentially dropping out of extended AD&D benefits. 3. Rollover my wife's 403b to IRA 4. In relation to selling the investment property: 1. Pay off vehicles, credit cards, medical bills. 2. Estate planning for my kid's futures 3. 25k emergency fund in savings account with best rate i can get 4. Put nearly 20k into purchasing existing options 5. Begin maxing out 12k a year in roth IRAs 6. Start selling private stock and diversify into joint brokerage account 7. Pay off home I really appreciate any feedback y'all have for me. I will try to answer any questions as soon as possible but please be patient as I am essentially working from 0800-1800. Thank you!

personalfinance

In the most disrespectful way possible, fuck your smartvestor pro. They’re scamming you. They’re charging you above the industry standard while providing no value to your portfolio. I’d ditch them as soon as possible.

g12jpm

Breaking lease in times of corona

Hey guys, I’ve suffered a 90% reduction in income due to corona. I’ve contacted my landlord and asked for relief - he offered me a 50% deferring of the rent until I get back to regular hours, after which I will need to payback the sum in the form of 150$ added weekly to my rent until covering his “loss”. I don’t believe accumulating debt in such times is a wise thing - not to mention that adding 150$ to my rent would be far outside of my budget as is, even if I was still fully employed. I’m contemplating breaking the lease - though I’m on a fixed term lease (12 month lease, of which I’ve done 6 months). Are there any legal reliefs for breaking a lease now? Would I still be required to pay the 4 week breaking penalty? Other than that, any advice on what I can do? As I can’t continue to pay rent as usual at the moment, and I don’t want to incur debt. Any help would be appreciated! Thanks

AusFinance

Is your lease a retail lease? I work in retail leasing and would strongly advise against breaking your lease. It is very very rare that retail leases contain clauses that protect the tenant in situations like global pandemics. If you break the lease then the landlord has the legal right to take any security bond you have over the lease or go after any personal guarantors so they can reduce their losses. Have you seen the mandatory code of conduct that Scomo announced last week re rent relief for commercial tenants? [https://www.realcommercial.com.au/news/government-reveals-new-rules-for-commercial-property-tenancies](https://www.realcommercial.com.au/news/government-reveals-new-rules-for-commercial-property-tenancies) Landlords are now obligated to reduce rent by the same proportion to their tenants drop in trade. 50% of the "reduced rent amount" is waived and the remaining 50% is deferred. For example: If your rent is $1000 per month and your trade dropped by 90% in March then your rent payable in that month is $100. Of the $900 that your rent was reduced, $450 is waived forever (you don't need to pay this) and the remaining $450 is to be spread over the remainder of the lease term. I know this is not ideal but it sounds like its a better deal that what he has already offered you. If you're in a situation where you really can't continue to trade, the best option is to find a replacement tenant that will pay the same amount of rent that you are/were paying, but from my experience it would be near impossible to find another tenant right now given the market conditions. We never recommend to any tenant to walk away mid-lease, no matter the circumstances. Hope that helps and good luck!

s4jpec

How is Stake AU?

I am currently using self wealth but their period of free trades have ended. How is everyone finding Stake? On paper its a better offering as it’s cheaper than SW and is Chess Sponsored - but keen to know what peoples actual experience with it has been

AusFinance

Have been using it for the pilot period - have had 0 issues. Fast deposits, no execution issues. I have not tried portfolio transfer/withdrawals so can't comment on those. Their support was helpful and prompt at replying.

s4jpec

How is Stake AU?

I am currently using self wealth but their period of free trades have ended. How is everyone finding Stake? On paper its a better offering as it’s cheaper than SW and is Chess Sponsored - but keen to know what peoples actual experience with it has been

AusFinance

Stake US cost me a lot of money when they blocked me being able to sell during the GME/AMC days. I would be extremely hesitant to trust this company with any substantial investment. It’s all fun and games until they fuck you over. Then it’s too late, with zero recourse.

ydpqw9

Wanting to change career, what’s good to get into?

Hello, I am 23 and currently a nurse, I haven’t been enjoying it and for the money to me it just isn’t worth it. I am wanting to get into a new career (am happy to go to uni) I am sort of stuck as to what to do, I like the look of construction management or even learn coding but open to any suggestions. What careers are you in and what would you suggest to go into for good growth in the future and decent pay. Thanks in advance!

AusFinance

IT, pre-sales roles. Account executive/ account manager or sales engineer/solutions consultant/solutions engineer. Thank me when you get your first job paying 180k+ and then earning over 300k with 5 years of experience. I tell a lot of people about these roles as no one really knows about them, if you like talking and presenting/demoing then you will fit right in

ljwqpg

Low stress part-time/casual jobs?

I'm planning to start a Masters of Sec Education to become a teacher later this year, at which time I'll probably look to leave my current full-time job. I'm very secure financially (over years worth of cash, own my house, $400k portfolio) but I will still look to pick up some part-time/casual work just so I'm not eating into my funds. Any suggestions on what I should do?

AusFinance

You could always work as a hospital orderly. You basically transfer patients in beds or wheelchair to different parts of the hospital. Just make sure its in a certain area or hospital where you avoid (due to local area policy) manual labour (helping the nurses change patients), helping security with violent patients or even doing CPR during resuscitation. Some hospitals I work at the orderlys ONLY do transfer and other hospitals the orderlys do everything. The transfer part is low stress the latter is not and avoid working in emergency.

ohi8pk

WARNING: Uphold is stealing people's money. A lot of people lost thousands of dollars yesterday

​ https://preview.redd.it/qddnvauptda71.jpg?width=828&format=pjpg&auto=webp&s=e7b9c4beb1c3f48cfd93017d927d452b005e7235 Look at the all complains on r/uphold . Over a dozen victims in that Reddit thread alone This sub r/Upholdincwillrobyou is dedicated to uphold stealing people's money. Apparently this has been going on for months All the funds have are being transferred to a "Customer Refund Wallet" Some people tried to withdraw all their money but it says it will take 15 days Customer support is not responding If you are looking to join uphold, please stay away

CryptoCurrency

I've been watching users crying foul on r/uphold, r/upholdofficial, and r/upholdincwillrobyou for awhile now... So damn sketchy, I bailed on them weeks ago when they lied about Tier 4 tokens moving to Tier 3 and being able to transfer to another exchange or wallet.

r0jv6x

Discussion on simple vs complex trading strategies

I was scrolling through yesterday and came across a post with a few comments that caught my attention. Basically, the comments said that simple strategies don’t work long term, only complex strategies will. This caught my attention because recently I have begun paper trading a fairly simple and easy to understand strategy that so far has been profitable. Not a lot to it and will be happy to discuss it with anyone who is interested. Anyways, I’m trying to understand the line between complex and simple strategies, and think defining the two will help alot of traders in the development of their own strategies. Strategy Overview. I Trade based off Daily support and resistance levels in combination with 20, 200 Moving Averages, on the 2m and 5m charts. Waiting for the MA’s to get close to eachother then once they define a trend, I play the options in that direction.

Daytrading

Take it from someone who has a trading playbook of over a thousand pages… The only way to make it is to start simple. You build and evolve from there. This is how to maintain an inward understand of your entire system, and be able to evaluate it (cut/change/adapt) for continuous system improvement. But ultimately, you need to grow into complexity so that you have a response to every kind of major situation. The best way to do this is to take advantage of your mistakes, and reflect on the pain while it’s fresh. As Ray Dalio states in Principle 1.7, “Pain plus reflection equals progress” (2017). It’s also good to articulate your ideas in writing. As George Soros says, you don’t know what you don’t know about trading until you try to write it down.

qvovc0

Listed stocks under $8 per share that trade in a somewhat predictable range?

So, I'm trying out this strategy that will use anywhere from 16k to 15k or slightly less. The idea is to get 2000 shares of a stock that is below $8. Ideally the stock would be priced around $7 or so. I'd try to buy it as close to the intraday low as I could, and just try to get a 10 cent movement out of the stock, for a $200 win. I call it MicroPercentages. But the thing is, I would try to do this several times in the same day. My hope would be to do it 3 times successfully in the same day for $600 total.

Daytrading

Awe man, this brings me back. It wasn't on this account but another, and probably 4 or 5 years ago when I first heard about trading. I was novice and wide-eyed bushy tailed. Had a similar sort of "system" idea, where I would buy major blue-chip stocks near an intraday low and sell for a small profit. If the position ever went against me I would just hold and turn it into a longer term investment, because Google isn't going anywhere any time soon, so it's not a bad stock to hold long term right? I got torn to shreds on my strategy in the comments, and probably deserved it, it was a wake-up at the very least. I'll spare you the condescending words I got and just say I hope you look back on this post in the future as a profitable trader and are able to laugh at yourself, I wish you the best of luck on your journey. To put it simply: "I'd try to buy it as close to the intraday low as I could" Is just not a thing... no one has a crystal ball my man. Do me a favor to save your 16k - instead buy a 1 month tradingview subscription and employ the "bar replay" feature. Chose your timeframe, could be 1min, 5min whatever, start the simulation at market open, 9:30am EST, for any equity, and start clicking "next bar," bar by bar, throughout the session. Once you think you are at the intraday low, draw a line. Now continue clicking next bar until you are at the end of the trading day. Record whether this was remotely the low of the day. Or even if it was close to the low, record whether or not price moved 10 cents against you before moving 10 cents in your favor. Do this for 100 trading days. You will see why this wont work.

q98g09

Dunno what to do

Ive been trying to learn trading for about 6 months now, I started off with the low float momentum trading but have since been looking for slower set ups. Ive read a couple books and feel like Ive learnt a fair amount about the markets(still a total noob) The next step towards becoming profitable seems to be just trading every day with a journal in an iterative process until I reach profitability. The only problem is I have no idea what setup/strategy to use, seems like theres a million different ways to trade and I don’t want to spend a year trading a set up just to find It can’t work. How did you find what works for you?

Daytrading

I would suggest going onto the charts and learning how to work with different indicators and get a feel for them. Previously I spent so long doing so much research that I never even got to the charts and I then ended up never using a chart. Now its different, I'm learning as I go on a demo account. When do I enter the market? Okay let's find an entry indicator and see how it works and try it, test it! Don't worry about the losses cause in reality, so early on you will loose more than you win and mostly by luck. My opinion amyway

l8nb0h

I have started daytrading futures and would like to be a fulltime day trader. What advice do you have?

I have started daytrading futures with firms that once you pass their combine, you will get funded. Topstep and OneUp. I have my own small live account as well. I would like this to be my full time job. I have a family to feed and a mortgage to pay. I have been successful in paper trading with a very specific strategy. I am considering daytrading as a fulltime job once I am able to have 6 months of expenses fully reserved only through this journey. My current career has a cap on my growth for the next 5 years because I am very young and have reached my potential for the moment being. The next step in my current career will only get me a 12% raise compared to my current salary. What advice do you have for me to all you traders who became full time day traders? Edit::: Thank you for all the advice, it is a lot to consider. I’d like to point out, I have my strategy and it works for me. I don’t need advice in that aspect. I would like a deeper thought than just how to be a better trader. To those who are successful at this and have made this their living, how do I successfully run this as my living. Taxes, being funded by a firm and using 1099 as a independent contractor, using some profits to capitalize on personal live account etc.

Daytrading

As someone who struggled with day trading early on I don't recommend people try to start out only trading futures. It is appealing because you don't need 25k capital. When I was 19, I'm an old boomer now at 37 YO, I lost pretty much all the money I had then trying to create an income trading futures. Yes there can be some great trades in the futures/indexes when the market is moving. I lost big in 2008 trying to trade futures when the market was moving then because the size of a futures contract was too much risk for someone with a small account and net worth at the time. I guess now with the invent of the emini mini you can trade something more adequately sized for a small trader. That wasn't around in 2008. But the main reason I don't recommend trading futures/indexes is because much of the time they don't move very clean unless the market is volatile. This is why most successful day traders trade individual stocks. They have news or some other reason to move more with a directional trend. In March of 2020 the indexes were moving crazy and then it made sense to be trading indexes. In fact that is all I traded that month for the most part as any individual stock was primarily just moving with the market. The moves then actually gave you follow through. So when a key level was breached you could usually count on it to give follow through. The last few months of trading in indexes is usually a lot of back and forth hard to trade trading. I made money in the qqq yesterday but that was just because the market finally had a nice sell off which moves better than a grind up day. But I also wasn't getting spun for the last week in choppy trash trade in the indexes which Erode your confidence to ever hold a move when they actually have follow through. Basically as a day trader you want trades that you can get you in and move with momentum aggressively in your favor. It's very hard to trade choppy trade profitably. And indexes have been very choppy now for some times. If the vix goes back up to 40 or so I might start trading indexes again. But when the spy is flat line you can have better luck trading say Gme when it goes from 45 on a break out to 75 than trying to trade the spy going from 380 to 380.50.

mhupbj

With mortgage interest rates so low and housing inventories so low, one of my biggest FIRE fears is locking into a spend rate that would be blown out of the water if ever had to move

I live in a HCOL area, but have the luck of having bought my home a few years ago when home prices were moderately reasonable - certainly not insanely high like they've been getting. On top of that, I have a really low mortgage interest rate. So great, right? I have my spending planned out, locked into very low monthly expenses for housing (relatively speaking for a HCOL area), so I'm set for my FIRE target in 5 years or so, right? ​ My only concern is that if we ever had to move (me spouse 2 young kids) to another HCOL area - even a comparable HCOL area - we'd have to pay a vastly higher monthly mortgage rate to account for both the skyrocketing listing prices of homes (even of nearly exact same size that we already live in now), and what will surely be rising interest rates. Right now my projected annual spend in retirement is calculated based on our current relatively low monthly housing costs - I worry I'm locking myself into never being able to move unless I go hard LCOL. Why would we ever have to move? I can't rule out that kids are still very small so may need to size up the house, and grandparents are older, so can't rule out possibility of moving closer to them (no specific reason to right now). Why wouldn't I just move to a LCOL area? Because between grandparents *not* living in a LCOL area, and wanting to keep kids in high performing (but not pressure cooker) public school districts, that's almost always going to be a HCOL area. Hell, even if I bought a slightly larger house in my own TOWN right now, I'd probably nearly double my monthly housing costs. ​ How do other early retirees plan for being locked out of moving to even a similar sized home with skyrocketing housing costs?

financialindependence

The advantage of owning your own home now is that if you have to move when housing prices are high, you will get extra equity when you sell. Just invest that extra into the next house to lower your future mortgage payments. Now, if the HCOL area you live in now turns into the next Detroit and the HCOL you move to turns out to be the next Bay Area, then you’re SOL. But that’s unlikely.

fzst1q

Daily FI discussion thread - April 12, 2020

Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts.

financialindependence

Chase is increasing the standards of mortgage borrowers. **Now they're looking for 700+ credit scores, and 20% down payment:** [https://www.usnews.com/news/top-news/articles/2020-04-11/exclusive-jpmorgan-chase-to-raise-mortgage-borrowing-standards-as-economic-outlook-darkens](https://www.usnews.com/news/top-news/articles/2020-04-11/exclusive-jpmorgan-chase-to-raise-mortgage-borrowing-standards-as-economic-outlook-darkens) I'm surprised that so many people were able to buy homes with just 3.5% down through various programs. What are your predictions from this? * Housing prices should fall in theory since there will be less qualified people to buy. * It felt like every other person I met in Miami was a real estate agent. That industry's going to suffer.

tokl4u

Daily FI discussion thread - Saturday, March 26, 2022

Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts.

financialindependence

My parent's cat died a few months ago and they've been on the hunt for a new kitty since then. My mom convinced my dad to get two. They finally arrived on Thursday afternoon so I stopped by on Friday and spent several hours playing and cuddling with them. They love being picked up and held, and are super loud purr machines. [Harley](https://i.imgur.com/tzuDBLT.jpg) and [Marco](https://i.imgur.com/x5idVXO.jpg) got all [tuckered out](https://i.imgur.com/AVrvFf1.jpg) from the activity. 16 weeks old.

neb4xn

Daily FI discussion thread - Monday, May 17, 2021

Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts.

financialindependence

A stolen Toyota Prius was abandoned in front of our house at midnight on Friday. (It happens once in a while, we're next to a freeway onramp for a quick getaway) It was there for 30 hours before a different thief tried to steal the catalytic converter (but were shooed away by our neighbors). The car wasn't even done being stolen and returned and it was almost the target for a \*different\* crime. It's like 'crime Inception'.

7nltgx

Daily FI discussion thread - January 02, 2018

Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts.

financialindependence

TL;DR – Thanks to this sub, I have transformed my financial situation, ultimately pursuing a graduate degree that enabled me to triple my salary. I have seen quite a few people making posts thanking this sub and citing how it has helped to improve their trajectories, so I wanted to take some time to do the same. In 2014, I was a high school English teacher making ~32K per year pre-tax. I was living in a very LCOL city in America, so I was able to subsist alright on this salary (decent IRA contributions, low spending, etc.)… but I still felt and worried that I was going to be lower middle class and never able to develop a strong enough financial position to have a family and solid middle class lifestyle. Around this time, I stumbled upon r/personalfinance. This helped me to come across some basic tools and concepts to improve my situation, such as early editions of the notable flowchart. However, several months later, things really started to kick up a notch. I found r/financialindependence + MMM and became obsessed. Although I really started to take in a lot of the details, the essential message really seeped in: increase my salary and keep spending low. I started to try to find paths to how I could do just this. After some careful research and preparation, I decided to apply to MBA programs, and was fortunate to gain admission to some good ones. While this would be a setback to savings and eliminate income in the short-term, the plan was that it would enable me to switch to a high paying career afterwards. I enrolled in the Fall of 2016. Now, as I look to graduate in summer 2018, I will be able to transition to a career (consulting) which pays substantially more than my teaching career did. My pre-tax salary will be roughly 3x what I was making during my last year of teaching. I did have to take on a lot of student loan debt to make this happen, but a generous scholarship has helped to limit that. Ultimately, I am now in a position where I will be able to enjoy a substantial salary and hopefully pay off my student loan debt in ~2 years. In the long run, I think I will be in a position to achieve FI in roughly 10 years (although I haven’t decided my “FI number”). I probably will not stop working at that point, but I will certainly enjoy more flexibility to choose jobs with attention to a variety of concerns. So thank you, r/financialindependence! Looking forward to a good 2018 :)

8ie8ki

My friend's car was repossessed today

I am posting this for my friend. This morning, my friend/roommate went to get in his car to go to work and it was gone. We called the towing company and they said they didn't have it. So then he called the police station who said it was repossessed. There has been an ongoing saga with his lender/dealership about his car. Since the beginning, they have constantly called him saying he owes payments that he has already made, and when he confronts them with evidence they back off for a little while. Last month they called him and said his car was up for repossession, and demanded he pay $500 to prevent this. He came up with the money, and after he paid that, they basically said "Oh and you still owe April's payment." So he made a payment arrangement with them to pay April's balance on his next payday (which is tomorrow.) They said fine. Basically, what are his rights in this situation? He wasn't notified that his car was up for repossession (again.) To me the dealership is extremely sketchy and is constantly harassing him. Can he still get his car back and what is the process to do so? Could his car have been taken by accident? Should he call a lawyer? If he gets his car back, how can he avoid this situation happening again? I should also note that he is staying with us temporarily due to an abusive living situation he was in a few months ago. He isn't on our lease and this address is not listed as his address on his I.d., or his registration nor has he notified the dealership of this address, which is an apartment complex. We live in Florida. Thank you in advance for any help/suggestions! I am writing this on mobile so I apologize for any text fuck ups.

povertyfinance

I once had a car from a buy-here pay-here place. The scheduled payments fell just a few days off of paydays so we made an arrangement to pay on those days. All is fine except after awhile it’s repoed and they say “you’re late and you’ve got all these late fees blah blah.” Luckily I was able to pay off the rest of it (a couple grand) to get it back, but besides that it’s their word against yours if the arrangement isn’t in writing and usually the people getting screwed don’t have enough money to take them to court. They get to resell the vehicle and you’re SOL.

5jdgh8

My mum ruined my credit score

EDIT: Just to clarify I am in the UK. EDIT 2: I am 18 and have never owned a credit card or anything that would affect my credit so badly. Hey all, I just wanted some advice on what the hell to do in this situation. A bit of background - my mum is bipolar and BPD - it was left undiagnosed and therefore untreated till around 4 years ago. She is very reckless with money thanks to her illnesses, and this is where my problem begins. When I was around 3, my mum took out loans and credit cards in my name, and racked up thousands of pounds of debt. I only found this out the other week when I was leaving to go to college and saw a letter addressed to me. I took it with me and opened it to find out that I was in a lot of debt. I asked my mum about it and she told me everything. I then saw an advert for ClearScore.com and thought I would check my credit score. My credit score is 245. I nearly threw up when I read it - my life is basically ruined because of my mum. I love her to death and she is a wonderful woman but I can't believe that she did this to me. I know she is mentally ill but I still feel so betrayed and hurt by this. How is this going to affect my future? Will I be allowed student loans when I go to uni? How do I improve this??

personalfinance

You have to report the identity theft to the proper authorities. In the US I would immediately go to the police, and then the Social Security administration. If she did it before she's probably goingto do it again, and the underlining reason is mental illness. If that hasn't been cleared up don't think any ancillary issues that permeate from the mental illness will stop.

l32z2x

Bill & Melinda Gates are now the largest farm landowners, but why...?

Given the global indebtedness, it could be plausible food could become exceedingly expensive (see inflation and the Bengal Famine 1943) or completely unprofitable (see deflation effects during the US’s Great Depression 1931~1934). If an investment is done because marginal utility is expected to improve, could we surmise they are speculating on potential food shortages...if not that, then why? Speculation, sure. But farmland seems an odd investment for a tech specialist.

investing

Bill Gates is one of the richest people in the world, why is it so weird that he has large amount of anything really? There doesn't have to be any hidden agenda for him to be "largest owner" of anything, he has to invest in something and hedge across different sectors. It would be a story if we found out that Bill Gates suddenly has 80% of his networth in farmland, but this? peanuts

bk1z1f

Berkshire Hathaway has been buying shares of Amazon, Warren Buffett says

https://www.cnbc.com/2019/05/03/berkshire-hathaway-has-been-buying-shares-of-amazon-warren-buffett.html?__source=yahoo%7Cfinance%7Cheadline%7Cstory%7C&par=yahoo&yptr=yahoo

investing

Berkshire starts buying as soon as the growth of Amazon begins decelerating - [https://www.fool.com/investing/2019/04/25/amazon-profit-soars-revenue-growth-slows-earnings.aspx](https://www.fool.com/investing/2019/04/25/amazon-profit-soars-revenue-growth-slows-earnings.aspx) Why weren't they buying years ago? BKS isn't exactly a growth investor. ​ Note that this wasn't Buffett's choice, but someone in the office that manages money.

rdphpu

McDonald's prices to go up, Again!?

JAMIE OLIVER WINS AGAINST McDonald's McDonald's loses the legal battle with chef Jamie Oliver, who proved that the food they sell is not fit to be ingested because it is highly toxic. Chef Jamie Oliver has won a battle against the world's largest junk food chain. Oliver proving how burgers are made. According to Oliver, the fat parts of meat are "washed" with ammoniac hydrogen and then used in the packaging of the meat "cake" to fill the burger. Before this process, according to the presenter, already this meat was not suitable for human consumption. Oliver, a radical activist chef, who has waged a war against the food industry, says: We’re talking about meat that would be sold as dog food and after this process it’s served to humans. In addition to the quality of meat, ammonium acid is harmful to health. Oliver says this: "The process of the pink <deleted>". What sane human being would put a piece of meat soaked in ammonium hydrogen in the mouth of a child? In another of his initiatives Oliver has demonstrated how chicken nuggets are made: after selecting the "best parts", the rest: fat, skin, cartilage, visuals, bones, head, legs, are subjected to a mec split smoothie canica - it's the euphemism that engineers use in food, and then that blood pink paste is deodorant, bleached, re-refreshed and repainted, dipped in flour and fried melcocha, this is left in usually partially hydrogenated oils, that is, toxins. The food industry uses ammonium hydrogen as an anti-microbial agent, which allowed McDonald's to use meat in its burgers, which is not suitable for human consumption. But even more disturbing is the situation that these substances based on ammonium hydrogen are considered 'lawful components in the production process' in the food industry with the blessings of health authorities worldwide o. So, consumers will never be able to discover what substances they put in our food

economy

The chain has been increasing its menu prices over the last year in order to keep pace with increasing costs of labor and supply and has recently confirmed that the increases from earlier in the year are will carry through the end of 2021.

uv7oqn

Older family member falling for scams; how to educate/protect?

About 2 years ago my father-in-law, now 78 years old, moved in with us. Recently I discovered that he had used his debit card to purchase headphones from a 'CVS email' which forwarded him to some scam website that charged him 7.99 for the headphones, a 79.99 membership fee and a $125 gift card to use anywhere on their website. I called his bank, explained the situation, cancelled the debit card and disputed those charges. Just yesterday my wife heard him on the phone with someone giving his address and birthdate and when asked who it was, he said 'someone trying to sell my life insurance' We explained that he cannot be giving away his information at random to ppl on the phone. I am thinking about putting a freeze on his credit so no one can open any new credit in his name. Has anyone experienced this? Any advice?

personalfinance

We had that with my mother who had dementia. We bought a unit which fits on the phone line & only allows certain numbers to get through. Also we informed her bank that she had dementia & was at risk. We also took away the card & let her run on cash.

rvc5sz

Is there any point to a non deductible IRA if the backdoor Roth IRA is eliminated for high income savers?

Long story short, I’m a high earner who is beyond the limit for a traditional deductible IRA and beyond the limit to contribute directly to a Roth IRA. Thinking ahead to 2023, I’m envisioning a world where the backdoor and mega backdoor Roth options are gone. That leaves me with maxing my 401k which I do every year (full max not employer match), and then decisions on what to do with the rest. Presumably, I can’t invest in a traditional deductible or Roth IRA in any way. That means my only real options are a tax advantaged non deductible IRA and taxable brokerage. At that point, the non deductible option seems nonsensical. Partial growth with tax deferment seems appealing but I don’t like having to wait until 59.5 years of age for withdrawals and I especially don’t like the idea I’d likely be paying income tax on the gains. Alternatively the taxable brokerage offers a ton of flexibility both with withdrawals and long term capital gains taxes which will assuredly be lower than income. Given this, and envisioning a world without backdoor IRAs, is there any sensible reason for a high income earner to ever invest in a non deductible IRA over a taxable brokerage?

investing

No there is not much point to it if you max 401K and the Roth (backdoor option) is gone. The only advantage you would have is not having to worry about capitol gains on a year over year basis if trading. In my opinion not enough benefit from just a brokerage and declaring trader status so you can use mark to market if you happen to do that. If back door roth goes then IRA is solely as a roll over vehicle for non roth 401k assets when leaving a job in my opinion.

2rfr3n

WTSL down 20% as employees boycott their own stores

Time to buy the dip? Yikes! WTSL down 20% as employees boycott their own stores. http://finance.yahoo.com/echarts?s=WTSL+Interactive#{%22range%22%3A%222y%22%2C%22scale%22%3A%22linear%22} And some more here: http://imgur.com/a/BTquI

investing

The company is garbage and their stock is garbage. This is like putting money on a number at the roulette table; you will most likely lose everything but the off chance that something good actually happens, you'll win big.

rvqwmx

Daily FI discussion thread - Tuesday, January 04, 2022

Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts.

financialindependence

I talked to my dad last night about retirement as I had just updated my own spreadsheets and wanted to discuss his effective SWR now that he and mom are 5 years into a traditional retirement. He was the first one to tell me to assume 4% like, 15+ years ago and gave me my first spreadsheet! So I figured he’d have data… His answer? 0%. They’ve been living exclusively off SS and plan to keep the IRA money untouched until the IRS forces RMDs (in 2 years). He said at that point they’d be making more money in retirement than they ever did while working. So the conversation didn’t exactly get me the data I wanted at first, but it’s definitely an interesting data point for ME, since I’m going to have quite a bit of pension+ss $ available to me early into my own retirement.

oh7opg

Putting in my notice at work because it's sucking the soul out of my life. Mini FIRE

I'm a 29M, working as senior QA analyst in a big corp software company in a MCOL city. I'm putting in my notice because I'm burnt out and taking a 6 month long vacation. Got about 200k invested in VGRO. Math says I should be fine financially but this has been a big step for me psychologically. I wanted to quit 4 years ago and again 2 years ago because I didn't want to be in QA but that was decided for me when I got hired by my first boss. I needed the money and had quit my previous job so kinda got stuck in that role without the energy to start from scratch in development which is where I want to be. The idea of FIREing in 5 years also kept me chasing the money rather than working on career growth. Even now when I apply for jobs again in a few months I'll have to start from the bottom of the ladder with a 1/3rd paycut. My FIRE plans will extend by a few years. I tried to make this work every way I could think of before coming to this decision. Honestly the biggest factor here for me to reclaim some of my freedom which I think a lot of you will relate to. The feeling of being trapped because of a higher paycheck and being too worried about starting from scratch is a bummer. I didn't even have the enthusiasm to do things just for fun in the evenings and weekends anymore. Thankfully this community has helped me get to a point where I am at least financially set enough even attempt something like this. I've asked my manager for a reference already and have gotten that, my expenses are under control, I'll be using up my cash before dipping a bit into margin account reserves. I would love to hear your experience if you've been through this in your own life or have tips for me to make the transition smooth.

financialindependence

I'm around the same age and in a similar role (SWE), and I left my job in May without any real plans. I had slightly less than you. I left because I was burnt out and because I couldn't take my manager's crap abusive crap anymore. It left me in such a bad place that I wasn't sure I'd recover. But within less than two months, I feel so much better and already have a next job lined up. My advice for you (or at least what worked for me) is to try doing nothing for a week, or at least a few days. Don't even worry about finances. Obviously don't suddenly go out of your ways to spend more than you do, but other than that, just focus on re-learning how to rest. Six months could end up being eight or four, since we have little control over how quickly the hiring process works. But as long as you plan on going back, you should be okay. Great job recognizing that you needed to step away from your current role.

ccnkwe

Leaving well-paying job to have more time for family

I want to resign from my job which requires insane hours and travel, because I have no time to see my baby son and we want at least one more kid. I missed his early birth because I was traveling for work and couldn't make it, by a few hours. My wife (teacher) has resigned to raise kids, at least until they are school aged. My solo earnings are into 6 figures (work for international law firm). We have no debt. Our house and nice property (15 acres) are completely paid off, but for that we have now about 100k in checking/saving/investment funds and about 60k in other retirement funds. We made the choice to not have a mortgage because having a home and solid foundation for the family was important (criticize whatever, I really wanted "F you" comfort if my job ever got so bad). Home is in the countryside with land value going up, in a very good public school district. We have one good mom-car (4 doors), dad-car is a good two seater (pre-baby buy), no debt on these either. Oh we are also simple folks that don't spend anything and enjoy our time together. We don't drink, go out, etc. Free time is spent together doing oddball stuff like hiking, mostly free. ​ So my question is, how irresponsible is it to step down at my role in 6 months, after xmas/new year? Take a job that pays ok but lets me be home everyday, not answer emails 24/7, and actually be a dad (my clients are across the globe so I literally have calls and work all night sometime). We have agreed that with the extra time I can garden and do some extra stuff to save money that I can't do now, just for my limited time availability. And also put in some sweat equity in our home and property. This I guess is like the ultimate retirement work, since we never plan to move. ​ I think this stepping down is ok because we have a nest egg and even with a lesser paying job, we will still be saving, just not like now and not like before when we had two incomes. ​ So that's it. Reduce our family income to \~55-60k/year until wife goes back to work then 55k + teacher salary. Or keep slogging because it is more financially rewarding? I know what I want but is this just financially irresponsible? I feel like I should earn as much as I can. But I don't actually think this is an appropriate reflection of my values. ​ Thank you! Edit: punctuation. And additional info, didn't want to give out too much info but my family has a college fund started. I am not concerned about college costs in making this decision.

personalfinance

Understand that if you leave your private sector law firm, you will have a difficult, if nearly impossible, path in getting back into an equivalent private law firm position down the road if you decide that the pay cut isn't worth it, or whatever. There are rare exceptions to this, such as if you take a "prestigious" public sector job and can lateral back in as a partner or counsel, but for the most part, the path from high paying private law firm job to something less is a one-way path. Have you thought about what you would do in your new position? Because most of the people that I know that have "down-shifted" in their legal jobs still work just as hard, get paid a lot less, and deal with clients who are even more annoying than the corporate/commercial folks you are used to dealing with at a private law firm. I can think of a few attorney-advisor type jobs for the government that maybe would work for you, but those jobs are also not going to be as diverse in the work that you currently do. So just be aware that you may suffer from intellectual boredom with this downgrade. Finally, you mentioned that you are in your late 30s. I would be extremely concerned that you only have 60k in retirement account savings at your age. Yes, you have a "nest egg" but it is truthfully not a very large nest egg. If you really want to do this, I would take the next 6 months and try to network with people who do what you think you would want to downshift to doing, and find out what their lifestyles are, and whether the grass is really greener on the other side. There will be pluses and minuses, for sure. During that six months, try to live on the 55k salary that you think you will be downshifting to, and see if you can really make it work. You'd be surprised at the lifestyle inflation and how we take certain "luxuries" for granted when you have the income to do it.

b8swlx

How does shorting exactly work?

I’m just learning. So I’m curious how goes shorting work? When you are finally approved for your short, is there already a decided price? Does the original owner sell them at a agreed price and you get the funds? Or do you just get the exact shares you requested and it’s up to you to sell whenever? Basically selling to begin the short sale?

StockMarket

The broker borrows the shares from another customer that has them. Sells them. You get the money. When you close your position, you buy the shares, they return them to the owner. You pay interest to the person you borrowed the shares from until you return them.

mck74w

New Job offering $42k/year but I would be in a higher tax bracket. Would I actually see a difference?

Hello first time posting here so I hope this isn’t asked all the time. I have been offered a full-time job in operations for $42,000/ year salary. Currently I make $18/hour and I understand that salary is typically calculated at a 50 hour work week. But I was more wondering if I will see any real difference in the long run, seeing as I will move up a tax bracket. I live in Illinois, but federally I will jump from the 12% to 22%. Any recommendations on how I should handle this? Should I counter offer higher, or counter lower to stay in my current bracket?? Extra info. File single, no children/dependents. Thank you so much for any help EDIT: OH MY GOD MY DUMB ASS. I was misled for a long time thinking this crap. I apologize for wasting your time and the bandwidth. I’m deleting this EDIT 2: Thank you to everyone for educating me and giving great advice. I have decided to counter offer for more, now understanding how money works :/ Thank you again

personalfinance

Heads up although you've already learned the important part, but $42,000 is actually in the 12% bracket anyway. Everyone gets at least a $12,550 deduction (that's the standard deduction for single filers). Also, salaries are based on 40-hour work weeks, or 2080 hours/year.

vp93na

Hey /all! You've probably heard the term "meme stocks" more often than you'd like lately. But have you ever wondered why it suddenly seems to be fashionable to discredit certain stocks as "meme stocks"? Here is an explanation.

Let's start with a bit of honesty right away. I've been involved in the whole story since late 2020, so my opinion will probably have some bias. I'll try to stick to the facts, but probably can't hide a certain emotional involvement. I can only recommend everyone to make up their own mind and to see this post only as food for thought. ​ https://preview.redd.it/6h3gl4a8d0991.jpg?width=454&format=pjpg&auto=webp&s=6584a2d40ec3278903b5791586f22cca3a9a6b97 So let's start. There is a long story that is probably too boring for most of you and too much to start with. And there is a short story in which the most important points can nevertheless be touched upon. And that is what I will try to do. If anyone feels motivated by this to read more, I'll finish by pointing out opportunities where you could go to further educate yourself on the matter. **When did corporate media start using the term "meme stock"?** Already since 2016/2017, there has been an attempt by the media to establish the term in the financial vocabulary. But the term "meme stocks" probably didn't become familiar to the masses until early 2021, when long-standing and established companies like GameStop and others suddenly got a big following from retail investors. Why did that happen? Some people have used the pandemic to make themselves familiar with the stock market and naturally relied on social media such as YouTube, Twitter or Reddit to gather information. You probably heard about people from a certain sub who gambled away all their lifesavings, but a lot of people also took their time and did extensive research on certain companies. One of them was u/deepfuckingvalue who streamed himself doing DD on his YouTube channel called "Roaring Kitty". ​ https://preview.redd.it/078qiwmbd0991.jpg?width=1289&format=pjpg&auto=webp&s=12606cb08543909533f89749aaf9bd95eea20d17 At first he streamed for a small audience, but after he posted his 50k $ YOLO on a well known investment sub on Reddit, people began to notice him and started watching and reading his DD more, which was mostly about GameStop at that time. **Why got GameStop so popular?** The fact that GameStop had over 100% short interest (official court documents later showed a short interest of 226%) made a lot of people wonder. How can more shares be sold short than actually exist? If you wonder what shorting or short interest is… Here is a small disgression: Think of shorting this way: You borrow a car from your neighbor and sell it on ebay for 10k. Now you hope that the type of car loses value fast before you need to give it back to the person you borrowed it from. If the car loses a lot of value and you can buy the exact same car for 8k from someone else one week later and give it back to your neighbor, you made 2k. But if the car gains value somehow you would lose money, because you need to buy it back at a higher price. To understand what 226% short interest would be: There are only 100 cars of a certain type, but someone sold 226 of this type of car on ebay without owning at least one. Think about how fucked up this is and what would be the implications of such a behavior in the real world. But this shall not be part of this post. https://preview.redd.it/wy9juu5ed0991.jpg?width=701&format=pjpg&auto=webp&s=3bf5936bf80fb7553fdf211e26975e6a2c774ff3 Through the research sparked by some individuals, many people have realized that large hedge funds were betting on the demise of some established companies during the pandemic - including retailers like GameStop ($GME) and Bed, Bath & Beyond ($BBBY) (they bet on the car losing value). For GameStop in particular, most of these investors were hopeful that the investment by Ryan Cohen, who is known for building Chewy, would be a big turnaround for the company. Ryan Cohen is known as a visionary and activist investor who has already taken on Amazon once in the pet food sector. Why shouldn't this work with GameStop in the gaming and computer sector? To date, GameStop has hired more than 350 high level executives from other companies like Amazon, Microsoft, Disney, Google and Facebook. Why would these people leave their jobs to work for a dying brick and mortar company? For a full list of GameStop tech and e-commerce hires look here: [https://www.gmedd.com/report-model/](https://www.gmedd.com/report-model/) **Turnaround and january price action** And this is where our "meme stock" story starts. People bought GameStop (and other companies) stock and caught the hedgefunds with their pants down. In fact they caught them so badly with their pants down that wallstreet had to resort to one of the biggest crimes if not the biggest crime the stock market has ever seen. They banned people from buying shares in certain companies like GameStop and crashed the price afterwards because it went too high from all the positive sentiment. Remember the car comparison? Because a lot of people wanted to buy the car (GME stock) so badly, the price of the car suddenly went to 200k. The big players on Wall Street could not have settled their bad bet and instead resorted to criminal means to save the corrupt system and crashed the price (the mechanics of this are complicated, but you can ask or read all about it on SuperStonk). Many people who bought above 300$ or 400$ are left holding the bag since then. And that through no fault of your own. This is why we are still here until justice is done. But let's get back to the origin of the "meme stock" term. ​ https://preview.redd.it/vygxb5bjd0991.jpg?width=600&format=pjpg&auto=webp&s=2e48fe4a1375c35b2ba43de8743bee8abfd4db92 After this happened on January 28, 2021, many people were angry. And what did they do in their anger? They just kept buying GameStop stock because nobody wanted the hedge funds to get away with their plan to bankrupt the company. And what did the hedgefunds and big banks do? They started portraying retail investors in the media (which they own) as bored idiot gamblers, discrediting their investment in the company as a meme and calling the company's stock "meme stock". This happened not only with GameStop, but also with many other companies such as the aforementioned BBBY, KOSS or Popcorn. But why did they do that? [https://twitter.com/KevinFarzad/status/1354554496169299970?ref\_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1354554496169299970%7Ctwgr%5E%7Ctwcon%5Es1\_&ref\_url=https%3A%2F%2Fwww.buzzfeed.com%2Fshelbyheinrich%2Fgame-stop-memesreddit-stock-market](https://twitter.com/KevinFarzad/status/1354554496169299970?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1354554496169299970%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.buzzfeed.com%2Fshelbyheinrich%2Fgame-stop-memesreddit-stock-market) The powerful players who stood bare-assed against the wall had to convince people that investing in these companies was a bad idea in order to eventually get out of their bad bets. The fewer people investing, the easier it is to manipulate the stock's price down. If you, as an outsider, hear every day from people like Andrew Ross Sorkin, Jim Cramer or Anthony Chukumba on CNCB how stupid these meme stocks are and that you should stay away from them, then at some point it has a certain influence on the people who - for inexplicable reasons – still trust these wallstreet muppets. How can you trust someone like this? https://www.reddit.com/r/Superstonk/comments/ov725n/cramers\_drunk\_rant\_captions\_provided\_to\_help/ A few questions that we keep asking ourselves in this sub are the following: Why does the mainstream media still have to bash a company publicly almost every day after more than 1.5 years? If GameStop is dead and the company has no future, why do you have to talk about it every day and run smear campaigns? Let people invest in whatever they want. Why are you so interested in what we do with our money? Read a little bit of DD on SuperStonk and maybe you know why. "They are fucked" is the short answer. **Controlling the narrative through multiple channels** They have, through repetition, over the past 18 months, made the notion of meme stocks as something negative, worthless, and risky, when in fact hedgefunds and banks are still on the losing side and only try to drag this out as long as possible to make people sell (fun fact: no one is selling GameStop). Then why is this negative media sentiment so problematic? Because a lot of people fall for it and it has far-reaching real-world consequences. Ask yourself how the employees of these companies might feel. Hard working men and women. These "meme stocks" belong to meme companies with meme workers who want to feed their meme families and live a meme life? If media paints a picture that these companies are not worth to invest in, people unfamiliar with the matter WILL avoid these stocks. And what happens when a company gets manipulated through shorting (car comparison) and no one is buying? The price declines and at some point the company goes bancrupt. Happened to Sears, Blockbuster or Toys 'R Us. This can't happen to GameStop anymore, but there are a lot of other companies who are titled "meme stocks" which don't have such a large, educated and stubborn investor base and are in danger. These companies will eventually be manipulated to death if the "meme stock" sentiment stays in the market and people don't realize why they use that term for certain companies. ​ https://preview.redd.it/jddfx1tqd0991.jpg?width=600&format=pjpg&auto=webp&s=54d8667f3c5d73d0c74d47abb0ad30d735072604 Yes. Give me one more minute. Hundreds of thousands of jobs are in danger, while wallstreet and their greedy hedgefunds and banks are doubling, trippling or quadrupling down on bad bets. And the media are there to set the tone. And if you aren't already part of the people who question what is said in the financial media, maybe today is a great start. Watch what George Carlin had to say about this: [https://www.youtube.com/watch?v=Nyvxt1svxso](https://www.youtube.com/watch?v=Nyvxt1svxso) **Closing words** So next time you hear the words "meme stocks" you maybe have a better understanding of the situation now and think twice what the intentions of these people are. They made bad bets against companies and want them to die. They want to stifle any interest immediately. If wallstreet and their greedy actors get caught on the wrong side of a trade, they declare a company as a meme stock and discredit it. It's a repeating pattern. **Btw i'm not saying that every company who is declared as "meme stock" is a good investment, don't misunderstand me here. Do your own DD. As for me i like one stock.** If this post has piqued your interest and you want to get more information then come and visit us in our rabbithole at r/Superstonk or go to [https://www.drsgme.org/](https://www.drsgme.org/) to understand why GameStop investors are directly registering shares in their name. But be careful, you may eventually be found on the good side of the fight and you're suddenly a hero without expecting it. Thank you for reading. May today be the best day of your live.

Superstonk

I think you're being shill brigaded on this post. This is an all star post that is interesting, crafted flawlessly, and very interesting. Everyone who believes in the GME Thesis should support this post.

sk2dj9

I'm the guy who quit his job to be a farmer because I believed we were gonna moon soon. Don't do it. I just got another job. But haven't sold a single XXX share.

So my farm is actually doing good, but I need more money. Just wanted to encourage all of you to keep working faithfully and to be patient. Haven't sold a single share since even before the sneeze, and I will not sell until I get my new phone number. ​ Here's my old post- [https://www.reddit.com/r/Superstonk/comments/r02jjo/im\_quitting\_my\_job\_this\_week\_and\_i\_dont\_feel/](https://www.reddit.com/r/Superstonk/comments/r02jjo/im_quitting_my_job_this_week_and_i_dont_feel/) . . . . . . . . . . . Go RC! GO GME!

Superstonk

I also quit my job and went all in on GME last… April? God it’s been awhile. For me it was just more about absolutely hating my job, so I budgeted my money to last until the end of Jan (whoops!) and bought GME with the rest. I too, will be finding some work soon lol. At least for me I work in the trades and I know it’s pretty easy to drum up work when I need it, so not too stressed yet. In fact, a million degrees less stressed than I was before I quit my job, it was good for my mental health!

swd8vm

I’m going to help my husband live his Bitcoin mining dream

I’d like to first add that I don’t know much about Bitcoin mining but I’m learning. My husband has been investing for several years and I was skeptical at first. He has always talked about how he’d love to Bitcoin mine on a small scale. Around December, I told him we should do it. Our current home would sell for a great price, we’d move to a state with the best energy rates (Arkansas is our choice). We’re going to buy a much less expensive home with land, pay for it almost in full with the equity from our current home and buy 11-12 machines to start with the remaining equity. We’ve already calculated everything - the energy costs in the area we’re purchasing in and how much profit we’d make as well. We wouldn’t be living luxuriously, especially with two young children, but it would be enough to pay the bills and my husband to not need to work anymore. I’m nervous about this new adventure, but also excited. If you have any helpful and kind advice, I’d greatly appreciate it :) ETA - We’ve wanted to move to a more rural area the last couple of years - way before we thought to mine Bitcoin. Being able to live off of our own land and raise our family in a slower paced lifestyle is our goal. Whether we mine Bitcoin or not, we still want to live where we’re moving. My husband will work part time remotely until everything is up and running. The goal is for him to eventually not have to. We are excited for this next adventure and to see what happens! Thank you to everyone for your respectful comments, thoughts and advice.

Bitcoin

Part of the importance in mining is having very low electrical rates and this often involves sunk costs in green energy so consider this - https://www.reddit.com/r/Bitcoin/comments/swd8vm/im_going_to_help_my_husband_live_his_bitcoin/hxlkbue/ You should only mine BTC if you do at least 100 hours of research – https://www.lopp.net/bitcoin-information/mining.html https://bitcointalk.org/index.php?board=14.0 As mining is very professional Understand difficulty https://en.bitcoin.it/wiki/Difficulty Use an accurate calculator like this and set at least 4% difficulty increment or higher- https://btc.com/tools/mining-calculator and only use modern ASICs like - https://canaan.io/store/ Or buy a bunch of used ASICs on Alibaba (but use escrow!) Not following these guidelines means you will almost be guaranteed to lose money https://www.econoalchemist.com/post/home-mining-for-non-kyc-bitcoin

ilvhs2

Nasdaq down 5%!

Dow is down 700 points as Apple drags tech lower in its worst day since March https://www.cnbc.com/2020/09/02/stock-market-futures-open-to-close-news.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard Hope you all have some dry powder; could be some major opportunities on the horizon! I am going to wait a bit to see how it plays out.

StockMarket

Looks to be normal correction at the time I am writing this. Given how many call options were on the table, I wonder if enough bulls will be stung to pause the run for a bit. Or the gods forbid, some put options or shorts. I doubt the fed will allow a true bear market to develop if it’s within their power though. So: Once bitten, twice...Nah, screw it let’s call again! Really, where else are you going to park your retirement? US Bonds? Money markets? Manciple bonds? Pandemic tech stocks, then transition to recovery stocks as reopening dictates. They have literally made it so there is no other choice. Holding on to anything else is a negative value proposition. Maybe commodities, but the bargain window has closed in on a lot of those, and requires a different kind of investing acumen. Unless your bold enough to go junk.

7o8eag

EA just announced their own coin "EAMTX" aimed at making micro-transactions "easier" to purchase.

Nah I'm just messing with ya, but just imagine if this shit actually happened? How would we all react? Do you think the coin would take off simply based on the fact that it's EA? Maybe because they are a massive company and people would buy it simply for the profits? I definitely don't they would buy it for the function that's for sure... EDIT: Thanks for the gold kind stranger!

CryptoCurrency

I think Enjin is a great project and as a gamer I am excited for cryptocurrencies being implemented into games. The reason why I did not invest in it is because big companies will never purchase a third party coin for their games. They will always make their own. I would not be surprised if Blizzard and EA are making plans for their own coins as we speak.

nicxvz

Why we stopped at $35,000.00

Whales feasted ate $35,000.00 during the initial phase of the crash and pushed the price up I posted a couple days ago about the hidden sell wall at $42,500.00 as this would liquidate shorts as well as lure bulls back into the market. Like clock work we hit it and back down we went A lot of shorts where opened up at $36,500 - $38,000 and the current crabbing is to liquidate them as well and then the drop to the Max pain price currently around $24,500.00 At this point the majority of longs will be liquidated triggering a flash crash to $19,000.00. Where the Whales will feast again and begin the accumulation phase If you want resources on the current shorts and longs open see bellow: 1. https://datamish.com/ 2. https://studio.glassnode.com/metrics?a=BTC&m=addresses.ActiveCount 3. https://www.theblockcrypto.com/data/crypto-markets/futures/aggregated-open-interest-of-bitcoin-futures-daily I suggest you also you do your own TA and ask yourself WHERES THE FUCKING SUPPORT MARK!, THINK MARK! THINK! (**most likely going to be removed because this sub is censoring anything calling this a crash; Fuck you too mods. We're 60% down) **

CryptoCurrency

How do you see the hidden sell walls? And don't these walls just disappear immediately when the whales decide to get rid of it. Making us think there's a sell wall there until right up to that moment where they remove it

tj56z7

Have $570k (1900+ shares) of MSFT. Pls advice on good Covered call strategy for additional monthly income

**Additional context & compilation based on some of the questions asked and for ease of comprehending the amazing responses in this thread:** Have accumulated these over time as never sold those rewards/bonuses when emp. Yes higher than desired concentration in single stock but still overall portfolio is diversified with ETFs, MFs and oh, did I mention healthy % allocated to few d*egen strategy* as well (r/HFEA and versions of it, Crypto etc). My cost basis is around $150 so definitely don't want to get called away given tax implications. But comfortable with 0.1 - 0.3 delta and it appears 30-45 DTE seems preferred duration although I have to read up more on few great suggestions on weeklies, 0.35 delta. Last year, I used to follow the .1 delta 30 DTE strategy but with the up only market conditions it didn’t work out well where after several 'roll up and out', was staring at $70K current value hit on the upside gains. However this year I switched to more active management with 0.3 delta, 2-3 months out for healthy premium, sell on big green days, buy back at 20% profit and wait to sell more until next big green candle. I pretty much recovered all my 'losses' from last year and now back in black in this strategy which I track very closely in a spreadsheet. This active management this year has been super profitable but of course the IV has been super high with Powell/Putin contributing to good bit of vol. So I still see my approach thus far and luck as function of current market conditions and not tenable. Hence reaching out to experts here on what CC strategy with such sizable locked shares (hodl for long term) folks have employed with lessons learnt / pro-tips / 'rolling playbook' etc. **Update**: THANK YOU ALL for so many pro-tips and certainly lots of experienced hands here. Over past 15+ months, I have gone through multiple scenarios and always struggled on the optimal 'roll decisions' during expiration time. And learnt great bit (hard way) to develop my *amateur system* which I see has good bit of validation from experts in this thread yet lots of great learnings to further improvise my system. And also hoping folks in my shoes can pick up couple of nuggets from this rich thread on covered call strategy

options

Well that's pretty damn impressive. I personally like to sell calls that are relatively close to the money because I like the high premiums and am not emotionally attached if a stock I hold gets called away at an overall profit to me. But with a stable blue chip like MSFT you may want to hold. Therefore, try playing a little farther out of the money. Sure premium is lower, but you'll also gain if those options are exercised due to price appreciation. Now they have weekly options, and I personally like to play on short time frames given how insanely volatile this market is. Maybe you like to go for longer timelines. I also just like the ability to be flexible and know that I'm not locked into a contract for longer than a couple weeks to a month....but that's me. And if you're called and want more shares? Start selling puts. No reason you can't get a wheel going at various strike prices and different DTE timelines.

lqfkoo

Pre-market today - is the bubble burst imminent?

I've seen down markets in pre, extended Fridays, etc. but this takes the cake As Michael Burry speculated, we're in a scary ATH with all indices and growth stocks exploding in the last year post-Covid due to various factors. The market is certainly bound for a correction, but while all the signs were there, it was kind of hard to see in the past several months of this nonsensical bull market, with Q3/4 earnings of many growth stocks beating expectations, or having a good enough future roadmap for impulsive new money to get in on. Tuesday - Thursday are days where the market can be red - the ol' saying buy the dip - is it finally time to get burned? As I write this, every single tech stock I am checking, from FAANG to meme stocks to relatively unknown growth stocks even, are DEEP in the red, compared to their daily moving averages. Be careful out there. Market's not going away, but it might be time to take a step back, re-evaluate and reap what we have sown in this boom. Edit: to add, February is traditionally the month of death for the market, "slowest" time of the year Obligatory 🌈🐻 Edit: Dear lord... CC1V LMAO

wallstreetbets

Man this pre market drop is insane, I’m seeing red everywhere and there’s nothing I can do about it but watch it happen. Contracts expiring this month that were up a good amount just two days ago seem pretty fucked now...

lpvfk1

WE ARE NOT DIAMONDS HANDS! We HODL!

WSB is a thing. It isn’t us. They YOLO on a all or nothing bet. They brag about the risk. They pride themselves in losses. Good for them. Respect. Live and let live. But Bitcoin isn’t about YOLO, or taking wild risks or being reckless for tendies. We aren’t retards (their word) or autists (also their word). Properly understood, Bitcoin isn’t a risky investment or a swing at the fences one time big play. We will make money because we are early adopters, but that is a side benefit of being part of something that is fundamentally strong, secure, and the future. WSB is diamond hands. We are not.

Bitcoin

Don’t know why this post annoyed me so much that I finally made an account to comment. Been shadowing crypto subs since I bought BTC at 7k back in 2017-2018 and wsb for the comedy since the GUH days. Gate keeping with meme terminology? Really? Everyone that browses either sub for more than like 10 minutes knows what the difference between wsb and Bitcoin is. Let people say whatever they want, we know the intent behind their words. Policing meme terminology is such a laughably ridiculous thing to do.

loc4gk

Greed is one hell of a drug.

I have been scalping spy for a few weeks ago. I’ve been profitable almost everyday. BUT, it’s always greed that gets me. I have a target of $500 a day. But I’ve been up $2000 before, only to lose it on a trade and be down like 400. I always tell myself that I’ll stop and walk away. But my greed always says “just ONE a more”. And that one more is always the death blow to my profits

options

So this is gambling and the rush you feel when you are winning is natural, you need to enter every trade with a thesis and exit plan. Doesn’t sound like you have either. Monetary target of “I want to make $500” isn’t a target, it’s a wish. Good luck to you.

903deq

Student loans: you just pay them until you die

I had two separate conversations this week where people suggested that it was basically unwise to pay off my student loans early. In fact, both of them suggested income-based repayment, because in their minds, the only reason I’d worry about my loans is if I was having a hard time making the minimum payment. Also, both of them seems to hold the view that student loans are just a fact of life, like death and taxes. You just pay them until you die. Sadly, I know this is how most people feel. The horror! If anything, talking to these acquaintances has made me double down on my plan to pay off my student loans in the next two years.

personalfinance

I made extra payments on mine for several years and paid them all off this yr. I owed 60k and interest was around 5.5%. It was mostly a mental thing just to get them paid off and was such a huge burden off my shoulders once they were paid off.

78myxk

Daily FI discussion thread - October 25, 2017

Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts.

financialindependence

I spend overall way too much time refining my financial tracking spreadsheets. At this point I think that the true reason I save so much isn’t a desire for the freedom of FI, but to satisfy my inner Excel junkie. I think the economics term for this is “weird revealed preference”?

iugwxt

Is buying a townhouse (generally) a good idea?

Have seen a lot of posts that debate the pros and cons of buying a house vs buying an apartment. Most people here seemingly do not like the idea of buying apartments for reasons like - depreciation, less control, etc. but what about townhomes? What are some of the pros and cons of buying a townhouse? For context, I live in Sydney and currently looking into buying something in the next 6-12 months. Looking at apartments and townhomes because not possible to afford free-standing homes in the areas I want (not too crazy far from the city, preferably within 30 mins) Thanks

AusFinance

Townhouses were the biggest mistake we made. We (like most probably), thought the shared walls and cheaper prices would be worth it. Actually turned out I preferred apartment living more because it felt more community oriented. Townhouses felt a little lonely, like a house, except all the noise would come from one or two neighbours. And they would usually be much louder than in apartments. More direct sounds, bangs, thuds than I experienced in apartments. Also the townhouses with integrated basement garages become literally subwoofers of noise. You’ll hear every bloody thing, car engines, kids, music the whole lot. Yeah not a fan of townhouses. Prefer apartments or freestanding homes. Plus the Strata fees.. bloody oath.

8qn2t2

When house prices have dropped by X% does that include inflation?

When they say house prices have dropped by a certain percantage is inflation included in that? Say, if house prices fell 4% in 12 months is that around 6.5% in real terms?

AusFinance

Yep. Standing still is going backwards. It's annoying when someone says that they bought a house ten years ago for $400k and then sold it today (at $500k) for $100k "profit". In real terms, there is no profit. 2.5% annual inflation compounded over a decade is 28%. What stings, though, is having to pay CGT, even at 50% discount, on such "profit" if this is an investment property.

5e36u3

I'm about to inherit a house from a man I didn't know was my biological father, I've grown up poor please help!

Throw away account for obvious reasons. In the last 6 months I have been told the man I called Dad is not my biological father. He is a 65 year old heroin addict who physically abused my amazing mother for 20 years (including the first 12 years of my life) so honestly, no love lost and my main feeling towards not sharing a genetic code with this man is relief. I just turned 29 and my biological father has known I existed since I was 2, he didn't want anything to do with me but asked my Mum to send him updates over the years. In February he passed away and had never married or had any other children, I didn't know he existed until being contacted by the executor of his estate. I've never had more than $5k to my name and am about to inherit a house in Sydney's Eastern suburbs. I have NO idea what to do!

AusFinance

Sorry I forgot to mention my current financial situation - I am in a well paying job ($95k) that I love which should see me earning $150k+ within the next 5 years. I rent a 1 bedroom apartment in the inner west and have at least $80k in HECS debt.

7aybe0

A 14-year-old's experience with Bitcoin

First-time poster here, don’t bully me, apologies for the potentially atrocious formatting :) TL;DR at the end So in the wake of Bitcoin’s explosive rise in value and media attention, I’ve been encouraged by others to share my experience over the past few years as a miner. Here's my story (it's kinda long, you've been warned) # Humble Beginnings It all started almost three years ago in the beginning of 2015 when Bitcoin flew under my radar. Looking into it, I admittedly wasn’t drawn in because of the decentralisation or the anonymous payments, I was hooked on the idea that anyone could get their hands on some just by running a program and leaving it to do its own thing. I know, how shallow of me. But the idea of making even a bit of money without ‘any work’ was convincing enough for 11-year-old me to do more digging into the matter. To my disappointment, I soon found out that the era of mining Bitcoins with a PC’s CPU or GPU was long obsolete and instead it was all ASICs at that point. So that summer, for my twelfth birthday, I got a little ASIC machine for €60, an [Antminer U3](https://imgur.com/QLzmmx2). This little thing took up less space than a graphics card but could mine at 60 GH/s. Because, at the time, I didn’t have a controller device that could be kept up and running all day long so it could run the program that mined Bitcoin using the U3, I went ahead and got a Raspberry Pi. After setting up the Pi and installing all the necessary stuff (took an awfully long time), I connected it to AntPool and plugged the U3 in. Two days past and the mining pool sent the first Bitcoin I ever received to my wallet (I was using Blockchain.info). It was just 30 cents worth of BTC but I felt a bit of a rush because I was earning a bit of money through this completely new thing and the idea of that was thrilling. Let’s back up for a second. I just used the term ‘earning’ as if I was profiting, and naive me 2 years ago was no different. In reality, I was at first oblivious to the fact that I was most likely LOSING money overall because of how much energy that little sucker was taking in. But, I was comforted thinking that using that machine was just a practical way of learning about this modern currency and that the loss of several cents’ worth of energy was acceptable in the name of education and learning. Fast forward ten months to the wonderful summer of 2016. I had recently turned 13 and the Antminer U3 had been running on and off throughout. Various pauses and breaks in mining would be observed, as I had to manually get everything up and running after frequent breaks in the Internet connection. You’d expect my newly-turned-teenage brain to lose interest in Bitcoin as it does with many other gimmicks, but – even surprising myself – I miraculously didn’t. Good thing I maintained interest thinking about it now, not so good at the time for my parents. Why do I say this? I felt like it was time to get a little upgrade in my hardware. # Getting an upgrade Days passed with me comparing every ASIC miner I could at that price point. It was then I set my eyes upon the Antminer S7 (same folks who did my U3, nice). I had put it up against a plethora of other miners and I figured the S7 was my best bet; the thing costs only about 10 times that of my U3 but could run at 4.73 TH/s, almost 80 times as powerful. The only problem being its power consumption was at 1300 watts, which would put a massive dent in the electricity bill and eliminate any profit I would make. Fortunately, I had a secret weapon up my sleeve – or rather my mum did. She had rented out an office outside our apartment where she would keep files and paperwork. The office’s electricity bill was a flat rate as far as I’m aware and it ended up being my saving grace because it virtually got rid of the “oh no I’m actually going to be losing money because of how much electricity I’m eating up” factor, making this whole hardware upgrade viable. After convincing my parents, they finally agreed to shell out the requested amount, with the initial investment being paid back with time. I went to a local Bitcoin vendor and purchased 1 BTC for about $665 in cash (*sigh* yes, I know. $665 dollars). Shortly after, I used about 0.9 BTC to purchase the Antminer S7 and a 1600W power supply for a grand total of $600. The products would be made and shipped from China so I was definitely in for a wait. A month passes and the package arrives at last. I connected all the wires from the power supply into the S7 and – with great anticipation – I plugged it into the wall to start its first ever run. And what do you know? An extremely loud and high-pitched whirring sound blasted out from the fans on both the power supply as well as the S7. After killing the thing, I questioned my choices. I couldn’t dare put that thing anywhere near my mum’s office in the event it drive everyone in the building absolutely nuts. I was at a loss. However, I soon recovered from my temporarily debilitated state and got working on a solution. The first idea that came to my mind: change the fans. The stocks fans were by Evercool and spun at around 3000 RPM. The power supply used a small, robust fan that looked like a cube that must’ve spun at extremely high speeds judging by how high the sound it produced was. I got my parents to give me some more funding so I could acquire the replacement fans and I did. Bust. After installation and testing, none of the fans would work. I managed to configure the S7 to connect to my Antpool account and the machine would manage mining for several minutes running at peak performance but ultimately be automatically cut off because of how hot the machine was getting (I’m talking about 80 degrees Celsius kinda hot in that thing). The fans got refunded and I was back to the drawing board. After combing through some forum posts and videos, I came across [this](https://www.youtube.com/watch?v=SxMVpB9Y4wc) video and a forum post in which people have their mining rigs placed inside a ventilated, muffled cabinet. Undertaking a project like this would be time-consuming and risky but I had no better ideas so I decided to go through with the idea anyway. Firstly, I sought out a cabinet with suitable dimensions. I managed to get just what I needed at a second-hand IKEA shop. Great. Secondly, I went ahead and acquired some sound-absorbing acoustic foam from a local provider. Fantastic. Finally I had to get a ventilation system going within the cabinet, otherwise, all the hot air would roast the machine alive in there in a bloody mess. With the help of my dad, we found a pair cabinet fans on the Internet that were close to silent but could circulate the air well enough. Eventually, all the materials came and, with the help of my parents, put everything together. The process took quite long time and we had a couple hiccups along the way, but we got it done and it came out pretty nice. The moment of truth came and, to my relief, it ran so much quieter than without the cabinet. It was nowhere near silent but it reduced the noise a great deal. Soon after, I got the thing into the office and set everything up from there. Unfortunately, I was forced to underclock it because you could still hear the machine’s whining from outside the thin office door. Gunning the hashrate down about 25% to 3.7TH/s, I could lower the fan speed without risking the machine burning up. Sure, I wasn’t getting the full potential of the machine but I didn’t complain because electricity was not an issue there and it was still a whole lot better than my U3. With it up and running, I could leave it there, periodically checking to see if it was mining on Antpool. # The aftermath In the months that followed, I was getting a solid $2.5 worth of BTC on daily basis. Half a year later, May of 2017, I had accumulated a satisfactory $600. I thought, “At this rate, I’d be able to pay my parents’ investment back in a few months” (the total investment came close to $900). Bitcoin had risen to over $1500 so I was already over the moon at that point because of how well everything was going. Little did I know… I hit 0.5 BTC midway through September this year. The price of BTC had dropped after a sudden rise to $5000, but I couldn’t have asked for more. Although I possessed only half the amount of BTC I paid for the machine, its value was over twice that of the initial investment. I thought BTC would level off at around $4000 but nope. In the month of October, the price skyrocketed. Since September, I had only mined 0.017 BTC but the value was already over $3000. It was just a matter of selling it, but I decided to hodl. Good thing I did. As of November 5, I have approximately 0.52 BTC mined in total from my S7, valued at $4000. If I were to sell it right now, I’d have a profit of over $3100. And as for my miner, it’s churning out 0.0006 BTC daily, sounds like nothing but it’s still the equivalent of $5 today and I couldn’t be happier, at least with the miner and Bitcoin. You remember that $665 for 1 BTC that I mentioned earlier? In hindsight, it would’ve been such a better idea to just keep that one Bitcoin and not do anything with it until today (in the interest of making much more money), as I’d theoretically have upwards of $7000. The idea of that still haunts me sometimes if I dwell on it too long but knowing that I’m in possession of an already hefty amount, the pain of it had numbed slightly. It’s not all doom and gloom for me from the exponential increase in Bitcoin’s value, however. Those first $0.3 payments from my humble little U3 all those years ago now are now the equivalent of over $6 today! Bitcoin and everything it encompasses has been and still is a journey of discovery and an adventure. Looking back, starting with a modest €60 Antminer U3 to having a sum of Bitcoin equivalent to two extremely high-end gaming rigs (first thing I could think of as a comparison, sorry) has been something I can’t really describe. Through the course of the past few years, I’ve learned more about technology, I’ve unexpectedly gotten insight into economics and business and – of course – I’ve made a lot of money (if I decide to stop hodling that is). Also, props to my parents for keeping an open mind throughout, I know some parents would be horrified at their kids being involved in something that has been used in some less-than-savoury ways and it's great knowing mine have been supportive all the way. TL;DR got into Bitcoin mining 3 years ago at age 11 with an Antminer U3 that ran at 60 GH/s, got an Antminer S7 (4.73TH/s) and built a sound-muffling, ventilated cabinet for it. Am sat here today with $3000 profit if I decide to sell right now.

Bitcoin

A year old account and this is the first post? This person writes like a ~~30 year old~~ college-educated adult. I'm very skeptical of this story of the 11 year old being interested in BTC. But then why would someone lie about their age on the internet?