Originally Posted by quickdodge®
Yes. Saving is always the first thing. Have to look after the fam and house first. I was just looking out side and I have to get someone to stop this river from flowing across my driveway and yard. Pluss I would like a small shop behind the house to do some side work after work.
1-UP!
In all seriousness... I lost my ass (and all faith) in the market.
I'm stacking hard currency for what's coming soon (it's inevitable), tax return will only be a small addition to that. The only debt I still have is my house, and hyper-inflation will make that easier to pay off.
If for some reason I'm wrong... I still can't lose.
When you're 10-99 you don't pay taxes until you file. Usually it helps if you do it quarterly, but most people have no idea how much you pay in taxes, only what you "net".
When you get money back, it means you lent the Government money tax-free (over-paid) for a year. Shame they won't return the favor if the roles are reversed.
JK, But in all seriousness, some major inflation is gonna be coming with the gov't pumping out money like it has been.
In every transaction (market or otherwise), there are winners and losers. If someone increases their wealth, someone else has lost some. The trick is to maximize your advantage in any transaction, and you can do that at any point - it does not matter if the market is moving up or down. Look for any transaction where it is undervalued.
"Racing is life. Anything before or after is just waiting." - Steve McQueen
Who me ? I wish ...
smh , re read the thread
The old way the market worked, I would agree. But now that the government picks the winners and losers... Nothing the stock market does makes sense to me anymore. I truly believe they are doing nothing but preparing to steal your wealth in order to pad their pockets when it all comes tumbling down. Look at the debt America and the European countries have racked up... There is not enough money in the world to pay that off. I do not however, subscribe to the Chinese ending up owning everything. I think they are in just as bad shape as we are, but since they are a Communist dictatorship their books are not open like ours are.
LOL, not too far from the truth. And I'm OK with that.
I know man.l wishful thinking, that's all.
It doesn't make a difference who is in power. The transactions are just a movement of power from one individual or group to another, and the power is just the ability to get others to do what you wish. The transactions still exist, and you have to look for ways to take advantage of them. The debt of countries does not matter in this case, as you can look for way to take advantage of transactions anywhere in the world. Even if the entire world's economy partially collapsed, that is just an opportunity to get investments under their normal value. Look for any transaction, in or out of the market, that you can gain something that is currently undervalued, but is unlikely to stay undervalued long-term.
"Racing is life. Anything before or after is just waiting." - Steve McQueen
Partial collapse? If America goes, who will (or can) save us??? Don't misunderstand... America will still be here (I'm not THAT crazy). But financially as a country we are headed down a road that only leads over a cliff. More over, for the righteous indignation of the selfish generation that has been raised, will make sure of it.
So while macro-economic theories still hold water, most people will be just looking for food. Never fear though... Our Government is sure to take control of the emergency and implement measures "for our own good".
Thread jack successful.
^ Now go take out the Behemoth inside! lolol
But I'll probably buy a car to flip and then pocket a little more than I had. lol It'll most likely be my maintenance/insurance fund for the year otherwise.
Bozzio for president.
I'm 10-99 subcontractor, I bill hourly rate $XX/HR, they pay me after I invoice, I'm responsible for paying all taxes.
Figure $16000ish cause I'm in the 15-20% bracket. Reverse math you can figure my income.
Enterprise Data Resources- Ecommerce Project Manager
-www.usedbarcode.net
I'm waiting for the market to tank again so I can buy up , guns blazing. The govt will never let us fail, they'll just hyper inflate
Owning stocks at 7000 is awesome because we all know its going to 12000 again
If I had more liquid cash I'd buy real estate but I'm holding around 30k backup. Keeping debt low, no house or car payment. Dumping money in aggressive mutual funds, fingers crossed I can parachute out in 10 years with 300-500k
Enterprise Data Resources- Ecommerce Project Manager
-www.usedbarcode.net
Truth.Originally Posted by Jeremy Clarkson
One thing I’ve noticed over the years is that if you drive into London at 6am, half of the cars on the roads are Porsches and Astons. Whereas if you go in at ten to nine, they’re all Renaults. Simple solution, then. You want a nice car? Get up earlier and do more work.
Haha good quote.
Young guys take it from old fucks like us. 10 years from now you'll barely remember your spring break trip to Miami, your dope ass rotas, etc
Pocket the cash, FUCK YOUR FRIENDS CAUSE THEY ARE LOSERS, and better yourself. Go to school, pay off bills whatever's.
Every year you get older it gets harder to change your situation. Most friends you have at 18-25 you wont have later on.
Love, the 30 year old who wishes he could kick his 18 year old selfs ass.
Enterprise Data Resources- Ecommerce Project Manager
-www.usedbarcode.net
The world has tied into the US economic system. The US is still the world's strongest ecomony by far. Even with a partial collapse, the entre world would suffer the same, and the US would recover more quickly than any other nation. Just look at the housing bubble, that is small scale. The better areas lost less value, and recover quicker.
Holding onto paper money is one of the worst ideas - it makes no interest for you, and it is one of the easiest things to devalue. Gold is so high, that it has only one way to go - down in value.
Look at history, specifically the Great Depression. IF we came to that again, look at what was of value - land and purchased goods. People grew their own food, but would trade their land in small parcels for goods that they needed. Notice that it was only about 10 years - that is a short time in the stock market. Invest in undervalued items - anything that is likely to go up in value and become more desireable.
"Racing is life. Anything before or after is just waiting." - Steve McQueen
Bingo. When the stock market started dropping, I started buying as much as I could afford.
People that started dumping their stocks when it started dropping lost on the market, as they bought high, and sold low. You never want to do that.
$300-500K in the market is not even close enough to retire. Don't forget that inflation will devalue your money. You should target to have 80% annually of your current income available to you when you retire. In other words, if you make $100K now, you want to be able to spend $80K/yr in retirement, and have enough to make it to the end of your life. With the way medicines and lifestyles are lengthening lives, you may want to target pretty old age. My grandmother is 96 and her hair just started to turn grey in the last 2 years, and will easily make 100+.
I'm thinking that you will need closer to $2 mil to be ready to fully retire.
"Racing is life. Anything before or after is just waiting." - Steve McQueen
So true.
"Racing is life. Anything before or after is just waiting." - Steve McQueen
300-500k goes.A LONG WAY in the Cayman islands :p
I'd start some local business and just enjoy that. Plus I have some other investments I could live off, I'd just retire from the US.
In all actuality I won't be where I want to be until I'm prob 45-50
Enterprise Data Resources- Ecommerce Project Manager
-www.usedbarcode.net
I never bought into the gold hype, although I would have loved to have owned it at $500-800 an OZ.
Right now I can think of better investments for me
Enterprise Data Resources- Ecommerce Project Manager
-www.usedbarcode.net
payoff bills and pay for wife school
Silver has actually done better than Gold as far as a return, and the stock market does better than both traditionally in the long term. I also plan on buying back in when the market is low, however I think we are far from the bottom.
My plan is to save it!!!
Brett (One of the true OG's, No really... ask anyone)
'15 Chevy SS
'16 K7 SXL SWP
www.facebook.com/brett.lowenthal1
R.I.P Leisa, You are never forgotten - 10/7/08
Well why wait to get your money?
I am actually buying another Accord to use as my project / DD.
Spending my refund on consensual sex and drugs....might not be in that order
Silver is definitely where it's at right now. Im stacking up on mine as we speak. I believe it's somewhere around $28 per oz and rising again.
twenty-two
Why make no sense? Later, QD.
FOR MORE INFO, CLICK THE PIC!!!
Nothing for the rides. Got to move in a few months so trying to save as much as possible.
This would be me. My 18y/o self would be in a coma til he was 30 if I had my way.
Watch platinum also. It took a huge hit and is trading $120/oz less than gold right now and that isnt going to last forever. Gold is highly overvalued right now because people think it is safe at any price. Also, when the consumer electronics market heats back up platinum will see more action.
I can't mess with that gold. The way that the demand has risen lately it scares me. It's almost too obvious that the value will drop drastically soon.
twenty-two
Guess im just glad no one has posted saying "I owe IRS instead" lol
I owed the past two years so hopefully this year will be different. I really want to put some money into the 323, as it's literally falling apart. The rest will probably be for bills, and hopefully enough to buy my lady something nice.
Im still waiting on a couple more pieces of info before I can start but I think I am going to owe a couple grand this year.
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It's better to own the IRS, due to having budgeted for it, than to have given them a free loan, and have them owe you. My return is always pretty small, as I try to pay close to what I will owe - and not much more.
"Racing is life. Anything before or after is just waiting." - Steve McQueen
return is going for the wedding and honeymoon. better to invest in something you'll have forever than on something that can be stolen.
i tried that and dosnt work out for me. its like the more you make the more you spend. i think of tax return as a saving account that cant be bother till beginning of the year.My return is always pretty small, as I try to pay close to what I will owe - and not much more.
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