Welcome to the IHoP

[Aaron Clinton 2,372]

The grey skin runs well. I hope Mark is able to get the black skin going.

[sandt38 448]

I think when I'm a bit older travel will be my #1. Right now I want to build a fortune and buisness so I can earn without working.

Fuck that. What happens when you die the day you retire?

What happens if you travel too much and get to be 65 with no retirement fund?

Hope the Democrats are still in office, duh.

On a more serious note, I believe in investing in my future. I work for myself and have a savings account. Got any suggestions for investment? Cause buying a house is starting to seem like a joke.

If you're one of those contrarian-types though, now would be the best time to buy a house. Mortgage rates are the lowest in 50 years, plus home prices are better for the buyer now. On a $200,000 house 1 percentage point on the loan interest translates into a difference of about $120 per month, which translates into $86,400 over the life of a 30 year loan. I don't know about you, but that's a really good chunk of change and can make up for quite a bit of stagnant home price years in which the value of the home does not go up. Plus you have to ask yourself, if you're going to live in this house forever, who cares about resale value? All you're doing with a lower valued home is saving property tax each year. That sounds good to me. And how long do you expect this housing crisis to last? 30 years? I doubt it. Even 5 or 10 years?

As for where to invest, it depends on your timeline IMO. But you can always just go back to the old mix of stocks and bonds. China is expected to have explosive growth for the next couple of decades, they've already started. They had something like 8% growth last year while the US was still marred in recession. If you think the US will be stagnant for the next 5 years, don't be afraid to look at emerging markets and countries. But IMO, if you're an active investor, there will be plenty of opportunities to make money in the US market yet.

Just stay away from penny stocks. Don't get caught looking for the quick 10-bagger as it will ruin you. I just figured up last night that if I wasn't stuck with the three penny stocks that I have that are losing money for me, I would have earned 19% since I began investing last January, which rapes the market return of about 7% when adjusted for market value when I added money to my account a few times over the last 1.5 years. Instead, I'm stuck at an 8% loss and just hoping these pennies will go back up just so I can break even. My boss has recently advised me on the value of doing covered calls with dividend-paying stocks. You not only get dividend, but get money from writing call options. It may limit your upside to 10-20% if the stock gets called away, but don't be greedy. It also protects you for about 5% to the downside just because of the income you get from the dividend and writing the calls. Plus if the stock stays put, you can continually write calls every month if you want and just keep garnering the money from it. Just gotta have a long term approach and not worry about day-to-day or even month-to-month fluctuations.

As far as the house is concerned KU is dead on. While it is tough to get a loan in todays market, the rates and the drastic drop in pricing make it worthwhile to do it NOW. My son just bought himself a condo in Orange County CA. He has been looking for 5 years. The boy just knew what he wanted. He looked at a condo when he first started 5 years ago that was 1200Sq feet that went for $420,000. He bought the exact same condo 3 months ago (it sold to someone else in the interim) for $186,000. Not only did he save ~$235K, he also got a better interest rate by almost 2 points.

As far as investing, as someone who made a fortune in the 90s in the stock market and lost a fat wad in the early 2000s I can tell you one thing... don't ever take anyone else's advice. Everyone is so quick to tell you to do this and do that, but if it really were making them money, I am not sure they would be telling you much about it. Do the smart thing and get dialed in with a financial adviser. They can sit down with you and develop a plan that will work best for you with your specific goals in mind. But you really need to get on the stick with it. Retirement isn't far away for any of us... time flies.

As for me, when I am ready it will be golden. Sell my rental houses and my house, take all my money and buy a villa in Italy... 10 years to go and i am on the right track.

[j-roadtatts 1,129]

My goal at the present moument is to HOPEFULLY buy a house next spring. I tryed REALLY, REALLY hard the last two years but it just didn't happen. I am a first time buyer and work for myself SO its been a learning experience.

[dem beats 1,223]

And double yes to having a financial advisor. They will keep your head out of the clouds and out of your own a$$.

Help you invest passionately, but without emotional baggage and make sure you have stability in the end. There is NO get rich quick scheme. It doesn't exist. Hard hard hard work and not spending cash all over the place is a huge key and will rocket you towards being wealthy though.

[dem beats 1,223]

My goal at the present moument is to HOPEFULLY buy a house next spring. I tryed REALLY, REALLY hard the last two years but it just didn't happen. I am a first time buyer and work for myself SO its been a learning experience.

Your situation makes it tough. Wife work?

[j-roadtatts 1,129]

My goal at the present moument is to HOPEFULLY buy a house next spring. I tryed REALLY, REALLY hard the last two years but it just didn't happen. I am a first time buyer and work for myself SO its been a learning experience.

Your situation makes it tough. Wife work?

Yes, she works for my mother at her restaraunt.

[dem beats 1,223]

that can go a long way in helping to buy knowing there is a non self employeed income. i went stated income on my first home :X

[Penguin4x4 1,761]

[Penguin4x4 1,761]

http://jalopnik.com/5583174/ten-deviant-automotive-fetishes/

awesome article

[dem beats 1,223]

How do I get into that?

Well obviously I don't, but how would someone who would fit in a normal smart car get in. Either way I need one.

*edit: with turbos

[sandt38 448]

My goal at the present moument is to HOPEFULLY buy a house next spring. I tryed REALLY, REALLY hard the last two years but it just didn't happen. I am a first time buyer and work for myself SO its been a learning experience.

It really sucks. The market is absolutely primed for buyers with the low housing costs, big deals builders are dishing out, and super low interest rates available right now. But unfortunately the banks are just sitting on every dime they have. They just are not giving out loans. I am in the middle of a refi on my primary home (looking at an almost 2 point drop), and even with 4 rental houses they are giving me a tough time. I would hate to be buying my first home right now trying to get a loan. The only reason my son got his loan was because he had enough money in the bank to buy the condo outright... but not very many people can do that.

that can go a long way in helping to buy knowing there is a non self employeed income. i went stated income on my first home :X

Stated is a tough way to get a loan. They really screw you with interest rates. Over the past decade or so it wasn't too bad, but right now I bet you couldn't get a new loan on stated income anymore.

[sandt38 448]

Hard hard hard work and not spending cash all over the place is a huge key and will rocket you towards being wealthy though.

There is no rocket outside of winning the lottery. I horde my money and still haven't found that rocket to wealth.

[dem beats 1,223]

Well it's a rocket compaired to poor spending habits etc.

[Penguin4x4 1,761]

How do I get into that?

Well obviously I don't, but how would someone who would fit in a normal smart car get in. Either way I need one.

*edit: with turbos

my dad's coworker has one and he's a good 6'4"...you can probably squeeze into it...

[dem beats 1,223]

is he a mega fatty like me? I was getting close to 400. No clue right now.

UPdated my thread here with measurements. I really should get a BB.com measurment tracking thing started. Then I can see the data graphed etc.

[dem beats 1,223]

Have you seen a brabus smart car??? I was so confused, thought it was a joke badge on the guys smart. WTF.

v12 TT smart would be sweet though.

[Penguin4x4 1,761]

its called the Brabus Ultimate 112; basically they added about 30 horse to the engine (for a total of 112 PS/110 HP), added a widebody kit, custom upholstery, and 18's. Its fast enough to sprint to 60 in less than 10 seconds!

[dem beats 1,223]

TOP

[The enD 467]

100 mil for a freaking plane. I can live 5 lives with that money. People are dying from hunger everyday and they spend money not making life better but for planes and shit.

[j-roadtatts 1,129]

that can go a long way in helping to buy knowing there is a non self employeed income. i went stated income on my first home :X

I WISH I could go off stated income. In my trade I make ALMOST as much through tips as I do wages, Due to my clients tipping me based on what I charge an hour and NOT the percent that I take home. IF I want to claim EVERY dime and pay the taxes on the tips I would show ALOT more, but the trade off is having to pay a ton in tax or just save the tip money. I tryed two years ago to just show my monthly bank deposits, BUT that was right when the fit hit the shan. I payed a pretty penny this year in taxes and will do the same in the spring, then I should be in the right borrowing bracket for where I am trying to buy. I HOPE.

[dem beats 1,223]

100 mil for a freaking plane. I can live 5 lives with that money. People are dying from hunger everyday and they spend money not making life better but for planes and shit.

2 things, at least it's green right? Science needs to make headway. And if anyone did care about the people dying from hunger they would open a farm in the starving country and start growing food and giving it away for free.... or teaching the the people from that place how to.

pluss 100 mil is a drop in the bucket compaired to cost of fuel used by planes every day right?

Me... I'm just jelly

[The enD 467]

It will sound "awesome" I bet :| . They say you can play 32 different tracks at the same time....

[Penguin4x4 1,761]

what in the hell

[Aaron Clinton 2,372]

its called the Brabus Ultimate 112; basically they added about 30 horse to the engine (for a total of 112 PS/110 HP), added a widebody kit, custom upholstery, and 18's. Its fast enough to sprint to 60 in less than 10 seconds!

Heck, with my commute, I would drive it for sure.

[dem beats 1,223]

Pandora won't load.... OMG I'll never get this auditing done without tunes.