Where to slowly put $5000 for emergency savings

[lartinos]

It all comes back to living in reality and not in this "baller" fantasy world. Everyone thinks they are better than what they are currently doing.
That actually takes work though.. Realize the mistakes you make and you can move forward. Ignore them and prepare for things to get even worse.

 

[the.gladiator1987]

This thread really just shows me how ignorant you guys are about silver lol its all good. I am gonna just put my emergency savings in a savings account and not touch it. This thread wasnt even about silver but you guys made such a big deal about it lol @ u guys nitpicking my life

Basically Im paying my monthly bills, then putting so much away for emergency savings, then putting so much away into silver, then with any extra money I wanna do a medium-high risk day-trader kind of stock investment. O yea I will find out if the kid is mine within 3 weeks and Ill have CS payment too, damnit

Thank you guys once again for crushing my dreams and continuing to honor my threads with your presence

 

[the.gladiator1987]

First, you'd better be joking about this part.

Second, even though these guys are ripping you apart verbally ITT, they're really giving you some good advice.

Man, you are still paying off debt with interest rates well above 6.5%. Silver has averaged a 6.5% return over the last 30+ years, and most of that has been in the last 4-5 years. When it corrects it will likely fall back around it's comfortable $4-6 range, where it has usually sat over the last 30+ years.

I told you long ago in a similar thread your best investment currently would be to PAY OFF YOUR FUCKING HIGH INTEREST BILLS! Want to make a 12% return? Pay off that 12% credit line! You are hard headed as fuck. I think you have some ADD/ADHD or something. You bring up this crazy shit you get all excited about, then you get set back to reality here. Then in a few weeks, you have another hair-brained scheme.

Investing is good. But you are shit poor and you have credit lines with interest. Remember that? That's where you should put that extra $200 a month until the debt is all paid off.

I dont have a 12% interest payment at all. I have no bills that have interest. I used to when I was with my ex because I was paying both our bills, but now Im just finishing paying tickets and by summer Ill be debt free (minus student loan)

Also, glad bro, why not ask your dad for some advice on investing. You don't have the cash to play around with, but the stock market can be a low-risk, low-return or a high-risk, high-return investment depending on what you want to do if you did have cash to invest. Your dads a chiro bro, and if If I had to guesstomate, he probably has some money, and he's probably pretty smart with it.

So the best advice is probably right in front of you.

I did bro, he says do what Im doing. He might lend me some money but who knows, id prob have a better chance from my bro

Not to mention silver has REAL value for it's many many industrial uses... where u.s. currency, is only backed by the federal reserve, which is NOT the government, but rather an international PRIVATE consortium of banks and is only worth the heat you can get from burning the ragcloth

Exactly! I dont understand what is so hard to get about this...the fact that silver is already 33/oz, and that there are more certificates than there actually is silver, and that silver is used in industry makes me wonder why ppl think its so crazy and dumb to invest in it. And exactly its not an investment, its long term savings. I know im right lol thats what is so funny about this thread

That only adds up to 96 dollars out of 100 dollars spent..
I guess that is where people take their profit on the people they lure into crap like this.

o wow 4 dollars, really Lart? Yea I know what an idiot I am!

Lets add up shipping cost bud

glad, you're seriously one of the stupidest people I know.

miplank, thank you bro. Go play with your cars

I don't know if there is an equivalent in the States, but if you were here I would suggest a Tax-Free Savings account. You can deposit up to 5000 each year. It is not counted as taxable income, and there is no penalty for withdrawals. You can invest it however you want, whether it is a GIC, money market fund, mutual fund, whatever. It is a good choice for short-medium length savings.

Thank you! That is a great idea, mutual fund might be the way to go..

 

[digimon7068]

e*trade account...IVV (ishares s&p 500 index) and JKD (ishares morningstar large core index)...just split your $$ between the two of them and forget about it...friday's are usually a good day to buy but, just watch the news and everytime there is turmoil in the middle east (or anywhere else for that matter), go in your e*trade account the next day and buy after the inevitable dip.

 

[lartinos]

Day-trading is dangerous and I am calling it now you will lose money. DO NOT DO IT.

 

[the.gladiator1987]

Day-trading is dangerous and I am calling it now you will lose money. DO NOT DO IT.

Really? I mean its extra money that I will be able to blow anyway and it is a high risk/high reward kind of thing

But i do know that ppl get screwed over all the time in it, but some also come up big

I jus wanna play around with some extra money

 

[lartinos]

Really? I mean its extra money that I will be able to blow anyway and it is a high risk/high reward kind of thing

But i do know that ppl get screwed over all the time in it, but some also come up big

I jus wanna play around with some extra money

Try playing around without spending any money first.
Or just jump in to it and try it. But what's the point? You can't just randomly just go into daytrading and expect to make money.
You see the pattern you are in? You go from one thing to another that you have no idea how to do. "Go with what you know"
That means you only start and invest in business' that you know something about. And if you don't know anything start doing your HW now so that eventually you will be in a position to do so. It takes work. In the meantime you can pay off your debt.

 

[digimon7068]

Really? I mean its extra money that I will be able to blow anyway and it is a high risk/high reward kind of thing

But i do know that ppl get screwed over all the time in it, but some also come up big

I jus wanna play around with some extra money

do what i said above ^^^^ you can thank me in 10 years when your $5,000 turned into $15,000 all by itself...without you having to waste one second of your time thinking about it...and, the more you put in the better your results will be.

 

[the.gladiator1987]

e*trade account...IVV (ishares s&p 500 index) and JKD (ishares morningstar large core index)...just split your $$ between the two of them and forget about it...friday's are usually a good day to buy but, just watch the news and everytime there is turmoil in the middle east (or anywhere else for that matter), go in your e*trade account the next day and buy after the inevitable dip.

nice

 

[axismundi]

Really? I mean its extra money that I will be able to blow anyway and it is a high risk/high reward kind of thing

But i do know that ppl get screwed over all the time in it, but some also come up big

I jus wanna play around with some extra money

I say go for it... I"ll pay 15$ to watch an imax 3d movie, that usually sucks and I walk away with nothing but a sore ass from worn out theater seats... if you wanna use a little money to play with, screw these people and go for it brother!