Investing megathread extravaganza

[DaFace]

A place to talk about investing stuff.

[Hog's Gone Fishin]

Originally Posted by Rain Man

I'm really curious what causes a person to go the grasshopper route or the ant route on finances. Handling your money poorly causes so much stress and so many problems, and yet some people seem to be completely unwilling to learn. It's not even that hard to learn the basics, but I see people making terrible financial decisions all the time.

When my daughter gets out of college (2 1/2 years more) I'm thinking I'm going to refinance one of my rentals that are already paid off and use that money to buy me a really big boat.

I'm torn to if thats a good financial decision or not???

My little bass boat can't handle 4 foot swells so a bigger boat could save my life and I really don't want to die at this point in life, I mean we just got our QB.

[lewdog]

COST to report earnings 5/28.

I’m in today at $304.50.

[BigBeauford]

Originally Posted by lewdog

COST to report earnings 5/28.

I’m in today at $304.50.

You got this.

[Rain Man]

Originally Posted by Hog's Gone Fishin

[/B]

When my daughter gets out of college (2 1/2 years more) I'm thinking I'm going to refinance one of my rentals that are already paid off and use that money to buy me a really big boat.

I'm torn to if thats a good financial decision or not???

My little bass boat can't handle 4 foot swells so a bigger boat could save my life and I really don't want to die at this point in life, I mean we just got our QB.

It's a great financial decision if you can afford it. Dying at sea is no way to live.

[Rain Man]

Originally Posted by ThaVirus

Literally every member of my immediate family is the type to spend money like it's going to rot.

I don't have any insight into their inner thoughts, but I have to assume they just get used to the struggle over time. "If they knew better, they'd do better" kind of thing.

Maybe that's it. Maybe they just don't know anything different and so can't imagine anything different. But jeez, it seems like at some point they'd start to figure out that there's a better way. I have family members who struggle to afford food and medicine, and then they'll excitedly tell me about buying a dune buggy. (True story - elderly relatives who have to be financially supported by family, and they bought a dune buggy a while back. And it's not even a working dune buggy.)

On the topic of financial literacy, I had an argument with my father last year about my car. My wife and I have one car because we live in the city and I walk everywhere. We kind of inherited a new car from my wife's father, so we ended up with two cars for a bit. I then sold one of them, and got an earful from my father about it. I swear this is a true conversation.

Father: Why'd you sell your car?
Me: We didn't need it.
Father: But you could have kept it.
Me: We didn't need it.
Father (more insistently): But you could have KEPT it.
Me: Why would I keep it? It costs money to own a car, and we weren't driving it.
Father: It doesn't cost any money to own a car.
Me: What are you talking about? Of course it costs money. You have to have insurance and license plates, and you have to pay taxes and you have to maintain it. Of course it costs money.
Father: You don't have to do any of that.
Me: What? Of course you do.
Father: Just park it. Leave it in the garage and don't drive it. Then you don't have to do any of that stuff. It doesn't cost anything.
Me: You want me to just park a car in my garage and then not be able to drive it? That makes zero sense.
Father: BUT YOU'D STILL HAVE A CAR! NOW YOU DON'T HAVE A CAR!

It's like he doesn't even understand what money is. He thinks that because he can't see a car, it completely disappeared, and he can't comprehend that I converted the depreciating car into money that I have now invested to get a return. He put me on blast, and then told other relatives that I don't respect him because I won't take his advice. Well, duh.

[Demonpenz]

For most people its hard to get a car especially if you grew up flipping burgers 50 hours a week to get a shitbox

[Hog's Gone Fishin]

Originally Posted by Rain Man

Maybe that's it. Maybe they just don't know anything different and so can't imagine anything different. But jeez, it seems like at some point they'd start to figure out that there's a better way. I have family members who struggle to afford food and medicine, and then they'll excitedly tell me about buying a dune buggy. (True story - elderly relatives who have to be financially supported by family, and they bought a dune buggy a while back. And it's not even a working dune buggy.)

On the topic of financial literacy, I had an argument with my father last year about my car. My wife and I have one car because we live in the city and I walk everywhere. We kind of inherited a new car from my wife's father, so we ended up with two cars for a bit. I then sold one of them, and got an earful from my father about it. I swear this is a true conversation.

Father: Why'd you sell your car?
Me: We didn't need it.
Father: But you could have kept it.
Me: We didn't need it.
Father (more insistently): But you could have KEPT it.
Me: Why would I keep it? It costs money to own a car, and we weren't driving it.
Father: It doesn't cost any money to own a car.
Me: What are you talking about? Of course it costs money. You have to have insurance and license plates, and you have to pay taxes and you have to maintain it. Of course it costs money.
Father: You don't have to do any of that.
Me: What? Of course you do.
Father: Just park it. Leave it in the garage and don't drive it. Then you don't have to do any of that stuff. It doesn't cost anything.
Me: You want me to just park a car in my garage and then not be able to drive it? That makes zero sense.
Father: BUT YOU'D STILL HAVE A CAR! NOW YOU DON'T HAVE A CAR!

It's like he doesn't even understand what money is. He thinks that because he can't see a car, it completely disappeared, and he can't comprehend that I converted the depreciating car into money that I have now invested to get a return. He put me on blast, and then told other relatives that I don't respect him because I won't take his advice. Well, duh.

LOL, I can see both sides. A dependable car is an asset even if you don't drive it because if your current car breaks down with a major repair then you have one to fall back to. I have two of those but one is a jeep I painted camo with bedliner. the whole thing is covered with bedliner and its cool. I don't drive it but once every two years. I really don't know why I actually keep it. I don't tag it until I want to drive it. It has a rebuilt motor with less than 5000 miles so it's value is more to me than it would be to the next guy.

On a side note I keep getting these calls from some ,"affordable insurance" asking if they could lower my auto insurance rate and since they are of India accent I presume they are a scammer. So they ask if I have a car and I of course say yes. "Well, if I can lower your insurance rate would you be interested. "I don't carry insurance , it's too expensive". They always pause there. "well , so you drive without insurance". Me: "yes I'm a safe driver"

Click!

[ghak99]

Originally Posted by Rain Man

Maybe that's it. Maybe they just don't know anything different and so can't imagine anything different. But jeez, it seems like at some point they'd start to figure out that there's a better way. I have family members who struggle to afford food and medicine, and then they'll excitedly tell me about buying a dune buggy. (True story - elderly relatives who have to be financially supported by family, and they bought a dune buggy a while back. And it's not even a working dune buggy.)

On the topic of financial literacy, I had an argument with my father last year about my car. My wife and I have one car because we live in the city and I walk everywhere. We kind of inherited a new car from my wife's father, so we ended up with two cars for a bit. I then sold one of them, and got an earful from my father about it. I swear this is a true conversation.

Father: Why'd you sell your car?
Me: We didn't need it.
Father: But you could have kept it.
Me: We didn't need it.
Father (more insistently): But you could have KEPT it.
Me: Why would I keep it? It costs money to own a car, and we weren't driving it.
Father: It doesn't cost any money to own a car.
Me: What are you talking about? Of course it costs money. You have to have insurance and license plates, and you have to pay taxes and you have to maintain it. Of course it costs money.
Father: You don't have to do any of that.
Me: What? Of course you do.
Father: Just park it. Leave it in the garage and don't drive it. Then you don't have to do any of that stuff. It doesn't cost anything.
Me: You want me to just park a car in my garage and then not be able to drive it? That makes zero sense.
Father: BUT YOU'D STILL HAVE A CAR! NOW YOU DON'T HAVE A CAR!

It's like he doesn't even understand what money is. He thinks that because he can't see a car, it completely disappeared, and he can't comprehend that I converted the depreciating car into money that I have now invested to get a return. He put me on blast, and then told other relatives that I don't respect him because I won't take his advice. Well, duh.

What you did makes perfect sense.

.... but I have multiple vehicles sitting around doing nothing, so what do I know.

[jdubya]

Originally Posted by Hammock Parties

Feel like I should take profit in IBIO and MARK today and put it all in VTIQ before the June 2 merger gets too close. THOUGHTS?!?!!!!!

Guns and real estate is for buying and not for selling.......and thats how I have played my stocks so far. I`m waiting for IBIO to reach 3 or 4 within a few months and I`ll pull the trigger.

[Rain Man]

Originally Posted by Demonpenz

For most people its hard to get a car especially if you grew up flipping burgers 50 hours a week to get a shitbox

Originally Posted by Hog's Gone Fishin

LOL, I can see both sides. A dependable car is an asset even if you don't drive it because if your current car breaks down with a major repair then you have one to fall back to. I have two of those but one is a jeep I painted camo with bedliner. the whole thing is covered with bedliner and its cool. I don't drive it but once every two years. I really don't know why I actually keep it. I don't tag it until I want to drive it. It has a rebuilt motor with less than 5000 miles so it's value is more to me than it would be to the next guy.

On a side note I keep getting these calls from some ,"affordable insurance" asking if they could lower my auto insurance rate and since they are of India accent I presume they are a scammer. So they ask if I have a car and I of course say yes. "Well, if I can lower your insurance rate would you be interested. "I don't carry insurance , it's too expensive". They always pause there. "well , so you drive without insurance". Me: "yes I'm a safe driver"

Click!

Originally Posted by ghak99

What you did makes perfect sense.

.... but I have multiple vehicles sitting around doing nothing, so what do I know.

Haha. I guess there are a number of reasonable perspectives. Point taken.

In my defense, my parents are hoarders and their answer to everything is to put it in a shed and keep it, so I'm very sensitive about NOT becoming a hoarder. And my other advantage is that I live in the middle of a city, so on the rare occasions where I need a car I can walk to a rental car place and get one for $50 or so. It's way cheaper than keeping my own car.

[Demonpenz]

things you own end up owning you

[ghak99]

My parents are the same way Rain Man.

You sent me down the rabbit hole...

Spoiler!

As a result, I have my grandfathers '31 coupe, my father's '69 Camero, my mother's '86 Camero, my father's '79 3/4 ton and I've added my '87 GT to the dust collection. They have been placed in my possession because they know my sister would sell them in about 9 minutes. Dad is still pissed to this day that he sold his '66 super sport back in the early '80s and the guy tore it down into pieces for a restore and never put it back together. He's retired and unable to really work on stuff, but still wants to go buy it in all of its eleventy billion pieces of glory scattered out in the guy's garage and put it all back together so it can just sit in the shed and collect dust with the rest of them.

Back when scrap was stupid high I sent two semi loads of my grandfather's old cars to be crunched. His brother owned a car dealership and every time one of the old Oldsmobiles started causing him problems he drove it in the corner of a shed or under a tree somewhere and just bought the next decent one that was traded in. Some of those cars cost him a $100 bill and lunch, so he just kept on rolling. After I sent them I realized some of those old Buicks and Oldsmobiles are actually sought after if you get into the right block of the right area of town. He invested oh so wisely in those old delta 88s and I just squandered it away.

I nearly forgot my dad's prized '87 Goldwing and now his '90 something Goldwing trike. Hey dad, why don't you sell that trike and go buy you and mom a, uh, a, well, whatever the hell you want that doesn't have wheels? You only rode it twice last summer and I'm pretty sure you scared every single person you met on the road with it, so how about it? "Na, I might ride it this summer or give it to one of the grand kids some day." Sounds great dad, can I go ahead and take it down to their place so I can get it the hell out of the shop? "Nope." And then there's the boats. An old jet boat for river fishing and an old bass tracker for crappie fishing. He hasn't fished in years, but roll those piles of small money into a, well, uh, whatever the hell he wants that doesn't have wheels and sit in a building, nope.

You sent me down the rabbit hole, so the best one yet... I have one of these ****ers that hasn't ran in close to 30 years with a bad tranny bearing in it taking up space in a building. It has some value, but talk dad into selling it? Oh hell no. He went to price cemetery plots for him and mom not too long ago and I told him to buy enough plots to park that ****ing FW30 on because that's where I'm going to put it when he's gone. At this point, I think it's some kind of weird punishment for being a pain in the ass as a kid.

[Buehler445]

LOL Ghak. Dad has grandpas D and 2 of his airplanes. That’s about the extent of the sentimental crap he has. I can’t believe you keep that under roof. Dad used to keep just a goddamned mountain of shit. Because “you might be able to make something out of that someday”. I started asking him why he built an expensive ass shop to store bullshit in? Started putting numbers on it and he got the picture.

There’s still shit around, but we’re headed the right direction.

[jdubya]

Not to drift away from the finance talk but some of these "hoarding" type stories makes me wonder what ages we are talking of. There is definitely an age group that lived through the depression or raised by those who lived through the depression that could easily explain why some folks refuse to give anything up that isnt broken.

[Buehler445]

Originally Posted by jdubya

Not to drift away from the finance talk but some of these "hoarding" type stories makes me wonder what ages we are talking of. There is definitely an age group that lived through the depression or raised by those who lived through the depression that could easily explain why some folks refuse to give anything up that isnt broken.

Dads dad was born in 16. So formative years certainly in the depression. Another aspect of dads deal is that’s how he got his start largely. Find some junk fix it and make it work for you. However I haven’t got the time to piddle.