FAO sightless

[picklemonkey]

I'm about to go buy Missed Fortune 101. worth it? comments?

[thesightless]

Re: FAO sightless

dont ever read anything that tells you what stocks to buy and how to play the market. if you really want a good periodical, then PM me. i have a bunch.

go with the ones that are trade mags for the financial and accounting professionals. rukysers is decent. its geared more to the normal p[erson, but its written by members of the AICPA board and some of the major invcestment firms.

companies like lehman bros and morgan chase are great for long term investing.

gov't bonds are cant miss.
avoid pension funds.

[picklemonkey]

have you read it? heard of it?

I'm seriously considering refinancing on my house and taking on an interest-only mortgage so I can invest the rest of my would-be payment and still receive the max tax break. Also considering just selling and buying a house twice as expensive on the interest-only mortgage so the appreciation gains quicker, then refinance and take it out every third year for investment

opinions? smart move? recommendations? is this "free advice" that you don't want to give?

[supaz]

Re: FAO sightless

Interest only and invest the would be payment? What if your investment goes sour?



IMO, I would sell the house, take that profit and invest it within a bad ass home studio, and start producing...

if that's not your bag, then buy that race horse you've always wanted...

[asdf_admin]

Re: FAO sightless

i want to own a candy factory. asdf_sittles.

only four letters yet 200 flavors.

[thesightless]

Re: FAO sightless

i must note i am not a broker or analyst. i do estate and tax planning for personal and corp. do not think you can hold me to any of this.

on a personal note, i highly reccomend that you invest conservatively. the impending world war and outrside factors will most likely kill the market. also, clinton's lax regulations and un-accountability of corps are what lead to the market crash. it is slowly coming back into its own and the info is concrete now with the sarbanes oxley act in full effect. stocks are usually a bietter long term BET (not investment) as the financials are reviewed by 1. the company, 2. CPA's who prepare them, 3. external auditors, 4. SEC auditors. bonds and long term debt are not, they are simply promises. (which only the gov't cannot break, any company can break them and leave you fucked.

pick. you are too young(i think) and frankly(no offense) i doubt you have any real reason to refinance. the costs might actually be more than the interest you would save. tax implications also may or may not help you. do yourself a favor and visit www.vanguard.com or simply read the WSJ (best paper in the world. seriously, dont confuse yourself this early.

bank what you can, always cover your ass in case of health emergency or family emergency. and where you live, natural disaster. take 50-100 bucks a month and buy some life ins that will allow you to cash in. if youre 25, and toss 100 a month or more, you will be able to have about 1million when your 55. (no. i am not lying). barring incident.

stick with the bigger funds that rely on the market cap and top 100-500 performers.(not movers). the big corps are the best way to ensure that you will be able to have a nice nest egg down the line and some money to give your kids.

now pay me for this or im cutting the board off from tax and investment advice.


PS read this page. its a great fund i have money in. hasnt really dropped outside of a daily thing here and there. its invested in too many market dominant firms.

http://flagship2.vanguard.com/VGApp/hnw/FundsSnapshot?FundId=0040&FundIntExt=INT

[picklemonkey]

buying a home is a smart idea... but paying toward the mortgage isn't imo. Because any money I pay toward the principle in my house doesn't gain any interest, I'd much rather pull an interest-only loan, and pay the difference between it and the fixed-rate counterpart toward an investment account of some sorts. Example, if my fixed-rate loan payment is $1000 and the interest-only payment is only $666, I'd have the $333 of what would be equity that I could use to invest for 30 years. I completely understand the 1 million in 30 years that you're talking about... that's why I want to put as much as I can into an account now. if I put the $333/mo for 30 years, I'd have way more than enough to pay off a house, but by then I'd have refinanced/moved plenty of times and not be obligated to pay off a house at that time... so I'd have a house plus (way) over 1M. That's just assuming I'm only investing my mortgage principle that currently isn't gaining anything sitting in the house equity. That with my 401K in 30-40 years is starting to sound real good... and the later I start on it, the stupider I am. I realize that I have way more research I need to do before I act on something like this, but even an interest-only payment without reinvesting is identical to renting a house plus the added benefits of 1) gaining value due to appreciation, 2) and give me tax breaks. I don't see any reason NOT to use the money I'd be putting toward my mortgage principle into a different compounding account.

[thesightless]

Re: FAO sightless

reply above- LIABILITY
two things

1. i might be over estimating the cost of living where you live as NY is one of the most expensive places to live.

2. the longer you allow the bank to lay claim to your house is not good. pay off your mortgage ASAP. try to plan to have it done a few years before it should be. if god forbid your wife/parent/child ever become terminally ill or need to be put into a home, your house is the best collateral outside of cash. like all things, its a risk you have to really think about. expect the worst, hope for the best, then if either happens, you are ahead of the game. you dont want to have to sell your home and take 4 kids to a 1 bedroom apartment because your wife gets cancer. just being able to put it up for mortgage on the spot is key, and i ahve seen it happen plenty.(we see a lot of people who have to hide money or sell everything because something happens. i was taught conservatively, and witnessing first hand the recent shit with enron, arthur anderson, merk, kozlowski, i see why it needs to be done. like i said, its a bet you have to call, its like betting on the D. rays to take it all, or betting the yanks or sox.......... odds are what they are.

[thesightless]

Re: FAO sightless

going to bed now. PM me.

[picklemonkey]

but the money is still liquid... all I would need to do if any major event occurs is just take the funds out of my investment. If I was in the house for 14 years and made those additional 33% payments to an investment of some sort, without any compounding interest at all I would have an additional 7 years of income, plus I wouldn't have to worry about the bank foreclosing since they'd have zero gain from it due to the money still being liquid. I'm assuming?

I started working with a financial planner, but decided not work with him for a few years because he was charging more than it was worth at this time. we can take it in priv, I'm not going to try to get numbers and shit from you. just a personal opinion :wink:

peace out.

[thesightless]

Re: FAO sightless

if took early withdrawal pay a instant penalty of 10% in tax, PLUS the withdrawal is looked at as income to you (literally known as the clinton tax on the books) you pay out the ass on it. its a dumb idea used to fund the prisons and parks i think. its your decision, personally i speak conservatively b/c money is money and i never want to risk losing it. please dont take this as advice, its just what i would reccommend from my point of view. shit here is so expensive. you'd be fucked if you lost it. look at the poverty that results out of legal messes your family gives you in wills and the sort. there is always a reason to do it either way, both are risks, one of missing out on a nice flow of cash thats unexpected, and one of being safe if things get bad.

maybe you should look at short term govt or bank bonds, they are usually clear of trouble and tax free. not many go uninsured, so they are backed heavily.

[thesightless]

Re: FAO sightless

i just say this, "look at how many people are just eating away at thier retirement till its gone because they got too used to having plenty of cash in hand, rathar than a growing nest egg in the market and bank.

[picklemonkey]

^that's what I want to avoid. If I can get a 40-year head start on it until retirement age, I figure no worries

[FM]

pay off your mortgage ASAP

indeed. Easiest way is to take your monthly payments, divide by 12 and add that extra amount to each payment. Thus you'll pay for 13 months every 12. (with the extra going to the principal). Or figure out a diff. added amount, and you'll easily, EASILY save TENS of thousands of dollars in interest while paying things off a few years quicker.

[picklemonkey]

^that's true, but your money still doesn't gain any value in your house. I'd rather invest and earn than pay down and not