so i went to bmw today...
- Thread starter Briansol
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"Personally I would never invest my money in something that could cause me to lose money. Yea it could be a way to "get rich quick." But it could also be a good way to lose more than I gain. As for safe ways to invest my money what exactly should I be looking into? Can anyone make any good suggestions?"
Investing is a risk. The higher the risk, the higher the possible return.
If you don't invest, your risk becomes that your money becomes worth less due to the powers of inflation. If you're not making 3.5% interest on your money yearly, they you're actually losing some of your buying power.
Bonds are low risk.
High yield savings accounts are low risk.
You're young, this is when you're supposed to take risky investments so they pay off for your future.
From a financial planners point of view, 2 1/2 months salary is an industry average. Just as 10x your yearly salary is industry standard as per the Wallstreet Journal, Business Week, and economists' opinions of the base amount of life insurance a person should carry.
You're wasting money by locking 6 months of salary up in a savings account. I would shoot myself if I had such a low risk tolerance that I did not effectively manage my money. When you take courses on economics and accounting, you'll learn about the opportunity costs of decisions. These are the benefits foregone as the result of making another decision.
Different people have different philosophies, but unless you are very wealthy and can afford the opportunity cost of not investing your money it seems as though that would not be the best money management technique. Its safe but yield little to no return.
Investing is a risk. The higher the risk, the higher the possible return.
If you don't invest, your risk becomes that your money becomes worth less due to the powers of inflation. If you're not making 3.5% interest on your money yearly, they you're actually losing some of your buying power.
Bonds are low risk.
High yield savings accounts are low risk.
You're young, this is when you're supposed to take risky investments so they pay off for your future.
From a financial planners point of view, 2 1/2 months salary is an industry average. Just as 10x your yearly salary is industry standard as per the Wallstreet Journal, Business Week, and economists' opinions of the base amount of life insurance a person should carry.
You're wasting money by locking 6 months of salary up in a savings account. I would shoot myself if I had such a low risk tolerance that I did not effectively manage my money. When you take courses on economics and accounting, you'll learn about the opportunity costs of decisions. These are the benefits foregone as the result of making another decision.
Different people have different philosophies, but unless you are very wealthy and can afford the opportunity cost of not investing your money it seems as though that would not be the best money management technique. Its safe but yield little to no return.
i haven't been to a bar in months. all the bars here are either white trash drunks driving beat up pickups, or dance clubs.
I don't dance and I have all my teeth, so i don't fit in anywhere, so I stay my ass home.
moment of silence for the roo bar
How do you not have a good Pub around.
I go to Tipperary Inn, Trinity Hall, or...at worst...fox and hound. First two are really nice places...the last one is nice, but the clientel is ass. I figure every place has a decent pub...if not...thats just sad times.
now I can see why B has so many girl problems..... $200 a month doesn't go very far on keeping someone happy... and it's actually a slight insult. But cheaper than doing whores and coke....unless thats what the budget is for a month...
and I heard another industry magic # is two years income in the 401K is what you want to attain while having a good amount of years to make it build up while adding 4% each year for the cost of living, and up until you get that, you slap as much as you can afford into it..... before you start spending lavishly for things that make you happy pressently...
and I heard another industry magic # is two years income in the 401K is what you want to attain while having a good amount of years to make it build up while adding 4% each year for the cost of living, and up until you get that, you slap as much as you can afford into it..... before you start spending lavishly for things that make you happy pressently...
Celerity
Well-Known Member
Isn't that the first 4 parts of the Japanese national Anthem ?
LMMFAO!!!!!YouKnowWhoIBee
my avatar is better.
There are atleast 100 bars in 2 square miles of me. I get in trouble at those types of places. I spend minimum of 80 dollars when I go out on a Friday or Saturday. But... I still save money. I have a set amount I put into savings a month, and if for some reason money is tight, I will just skip the bar to put that money in savings. I only go out on weekends though, so it helps lower my out of pocket spending slightly.
Celerity
Well-Known Member
Don't do this by mistake though.
