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#871 |
Supporter
Join Date: Apr 2007
Location: Scott City KS
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Oh, and congratulations on paying off your house. That's a huge deal. I'm jealous.
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Posts: 57,475
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#872 | |
Sexiest Athlete
Join Date: Apr 2001
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Quote:
People who care enough to live in a house like that tend to take care of the property. People like nice things for their kids. We have a couple of rental properties, and while we see them as investments, we also see them as an opportunity to provide nice homes to folks who, for whatever reason, may not have the desire or means to purchase a home. |
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Posts: 12,644
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#873 |
MVP
Join Date: Aug 2005
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So here's a question. I got a spam email Monday night telling me that a certain company had developed a "miracle drug" and to "buy their stock immediately". This is obviously spam and, after searching around about the email and ticker symbol (and researching the company itself), it learned about "pump and dump" scams. My question is, if you are confident that you know of a pump and dump scam about to start, what is stopping you from jumping on the wagon with the scammers? You'd have to time your sell to beat theirs, but that's about it, right? I ended up buying 30 shares for fun and it went up almost 40% yesterday.
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Posts: 14,574
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#874 |
MVP
Join Date: Oct 2011
Location: Chandler AZ
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BITCF is the ticker symbol. It's crashing today. If it's a real company with a future and not just a pump & dump, which I couldn't determine because of my limited crypto-currency knowledge, it might be a good time to take a flier. If not, which is a very real possibility, she might want to take that $200 to Vegas and put it on the Chiefs winning the next 5 consecutive Super Bowls.
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Posts: 13,419
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#875 | |
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
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Posts: 52,181
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#876 | |
The Maintenance Guy
Join Date: Sep 2005
Location: Renovated Bugeater Estate
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Quote:
![]() We caught a huge break that unfortunately involved the death of family member. But yeah, it's nice, and it opens the door to a lot of other possibilities for us. Right now we're basically just blowing the extra money, we need to be more smart with it. |
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Posts: 70,526
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#877 | |
The Maintenance Guy
Join Date: Sep 2005
Location: Renovated Bugeater Estate
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Posts: 70,526
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#878 |
Supporter
Join Date: Aug 2000
Location: Utopia
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I think I'm going to expand my portfolio a little in a different direction.
I invest, but don't do individual stocks, just funds. My latest bad idea is I'm going against what I've always said and buying a couple of rental properties. |
Posts: 61,770
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#879 | |
In BB I trust
Join Date: May 2003
Location: Boston, Mass.
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Posts: 43,125
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#880 | |
In BB I trust
Join Date: May 2003
Location: Boston, Mass.
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Quote:
Ditto. Hog Farmer probably has good advice for you. |
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Posts: 43,125
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#881 | |
MVP
Join Date: Aug 2000
Location: Lee's Summit
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Quote:
She's only 13 and it was a gift so she wouldn't qualify. Was thinking about opening up a brokerage account in her name and letting her play with it on her own. |
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Posts: 8,287
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#882 |
Fish are scared of me
Join Date: Nov 2001
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Posts: 40,693
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#883 | |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
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Quote:
Investing for most of your money should be about long term gains, not short financial success (which many times leads to total loses). "Playing around" with a brokerage account could lead to a few wrong clicks and that $200 invested could turn into owing thousands of dollars. If you don't understand this concept, than a brokerage account is also not for you. I would suggest taking that birthday money and putting it into a savings account, teaching the lesson of rainy day fund or saving up for something in the future. If you allow your daughter to do jobs around the house, start paying her small amounts and documenting it. Once she reaches a certain amount, opening up a Roth IRA would be the best investment option you could give her long term. This is what my parents did for me when I turned 15 and had a summer job. I am totally against teaching individual stock buying as a get rich quick scheme. If I lost all the money in my brokerage account, I'd be fine. It's play money for me and most should treat it as such. I pump my 401k and Roth IRA for retirement, and so should most people. |
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Posts: 46,000
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#884 | |
MVP
Join Date: Aug 2000
Location: Lee's Summit
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Quote:
Anyhow... Maybe I used a wrong buzz word or something. A regular brokerage account in her name cannot play the options market. So in that case... she will learn about investing and I"ll see what she can do and she will either fail or succeed but it'll be her choice. Thanks for your input. |
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Posts: 8,287
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#885 | |
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
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Quote:
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Posts: 52,181
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