QTDDTOT

LuckyDusty
LuckyDusty

I'm making a dumb questions thread because I've got a lot of them.

All urls found in this thread:
https://www.youtube.com/watch?v=0akBdQa55b4
StonedTime
StonedTime

If it's really that easy to make money with stocks then why doesn't everyone do it? Is it even easy?

ZeroReborn
ZeroReborn

@StonedTime
No, and that's why they don't. It IS that easy to make a reasonable steady profit, but high reward = high risk = lots of loss. 90% of traders never make a profit.

eGremlin
eGremlin

@ZeroReborn
*steady profit a year, <10%, in steady investments like ETFs and other old people shit

Ignoramus
Ignoramus

@ZeroReborn
@eGremlin
What would you say is a better way to invest your money for the long term?

Supergrass
Supergrass

@ZeroReborn
Ok, so what's pretty certain over 20-25 years. I'm 19, 10k in my checking, 5 in gic, 5 in tfsa, 5 I lent to family. Where I'm working and staying, I'll guess by the end of next year instead of 25 I'll have ~60k. Can I start a business? Do you know what I should incest in?

Lunatick
Lunatick

@Ignoramus
Old people shit usually encompasses gold, silver (doing quite well right now, I'd say go for it even for decent return in the short term), ETFs, bonds, Roth IRAs.

Lord_Tryzalot
Lord_Tryzalot

@Supergrass
I don't know anything about business. If you're passionate about something, just do it. But if you're not, load up on gold, ETFs, and government bonds. British pounds if you trust Britain to recover. I wouldn't advise that necessarily. I do not have a license to give financial advice in any capacity, this is just my personal opinion from what I have heard in passing. I own none of these assets because poorfag.

MPmaster
MPmaster

@Supergrass
If you make 4% a year on something, your return will be P(1 + 0.04)^n, where n is number of years. If you put in 20k, after 20 years at 4%, that is ~44k.
https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=y%20%3D%2020000*(1.04%5Ex)

girlDog
girlDog

@Supergrass
"Do you know what I should incest in"

Crazy_Nice
Crazy_Nice

@Lord_Tryzalot
I have been thinking of Britain, but I have been thinking of buying a house out in the country. I know where the constructions moving, I could cover the mortgage plus if I rent it out to the right guys. I'm just not sure how hard that is to do if anyone has experience. And I'm not really passionate about shit but money and football.

Evilember
Evilember

Is the food industry a good place to invest in? Starbucks stock steadily rises. Um is pharmecudicals still good to look into or are we no longer in 2008 and 2010 and my idea is outdated?

TurtleCat
TurtleCat

If I liquidate a Roth IRA and move it all to a Roth IRA with a different company within 30 days will I have to pay the tax penalty?

Currently have a Roth IRA with statefarm because I was young and stupid when I opened and didn't research. I want to transfer it to Vanguard but it turns out that the one I opened is a statefarm only IRA.

What do I do?

DeathDog
DeathDog

@Evilember

Only if you have no conscience.

Harmless_Venom
Harmless_Venom

@TurtleCat
Look in to a roll over account

Boy_vs_Girl
Boy_vs_Girl

@Lord_Tryzalot
How does one invest in the pound? The only "investing" I've done is putting money in ny Roth IRA

RavySnake
RavySnake

@Supergrass
Do you know what I should incest in
maybe your sister

TechHater
TechHater

@LuckyDusty
Should I invest some of my cash in p2p lending?

Raving_Cute
Raving_Cute

@TurtleCat
If I liquidate a Roth IRA and move it all to a Roth IRA with a different company within 30 days will I have to pay the tax penalty?
If you do a custodian-to-custodian transfer, there is no penalty. This involves your current IRA provider sending the money directly to the new IRA provider. You never touch the money, and the IRS never even gets a form.

IF you take the money from the old IRA in cash, then you have 30 days to get it into a new IRA. The old IRA will tell the IRS that you took the money in cash, and may be required to prove that you completed the deposit to the new IRA within the time limit. If you don't, then you will be subject to the penalty.

Both are called rollovers, but most people choose the first route because its easier, safer, and less hassle. But either is perfectly legal under the IRA rules.

CouchChiller
CouchChiller

@Raving_Cute
I tried to do custodian to custodian a few months ago, but Vanguard told me it wasnt possible due to my IRA being some sort of state farm only mutual fund or whatever.

I guess I'll have to do the 30 day thing

Emberfire
Emberfire

Hello. First time on this board. Should I take suggestions of this board seriously? I've decided to become rich (Don't care how cheesy it sounds). I'm 23 and I'll graduate next year and also sign up for Aviation Academy to become a Commercial Pilot (Which is my dream job).

Being a commercial pilot pays well (At least in my country) and my parents are doing well too. So I'll have some capital when I start investing (Or opening side businesses as I keep flying as a pilot) in serious amounts.

Where would you recommend a newb to start? I'll be reading "Rich Dad Poor Dad" and "Money Master The Game 7 Simple Steps To Financial Freedom" as my first 2 books. What then?

I'm planning on getting myself educated on how finance and investment works and starting investing in roughly 12 months.

Thanks in advance

Fried_Sushi
Fried_Sushi

@Emberfire
Have fun with your blood clots retard

5mileys
5mileys

@Emberfire
You can take it seriously if you, big boy

Just remember this is Veeky Forums lel

SomethingNew
SomethingNew

@RavySnake
@girlDog
I know who I want to incest in, believe me. I'm just trying to get "bloodline" status not "backwoods cousin fucker"

StrangeWizard
StrangeWizard

@Emberfire
Hey retard

There's no fucking magic secret to investing that will suddenly make you rich

It's literally gambling. Do research, read a fuck ton of articles, filings for patents, lawsuits and bet if a stock is going to go up or down and hope youre right

thats literally all there is to it

Should I take suggestions of this board seriously?

Everyone on this board is a shill including myself. If someone is shilling something that means they've invested in it and they are trying to hype it up for others to buy it so they can profit. In general, most the people on this board have good intentions. We're all just trying to help each other make money. At first, avoid the obvious scams like TrumpCoin because you'll end up holding the bag but once you get experienced even those pump n dumps are great ways to make a shit ton of cash. Just make sure you don't play greedy and you sell before the next guy does.

Don't ever get to greedy on one thing. There are ALWAYS new opportunities. Every couple weeks there's a new opportunity between cryptos and penny stocks to make a shit ton of cash.

And Buy. The. Fucking. Dip.

Garbage Can Lid
Garbage Can Lid

@StrangeWizard
What's a good resource to learn how to value stocks to determine if they are even worth gambling on?

I always look at SEC filings and profit reports and what not, but honestly I don't understand most of it and thus cannot make an educated decision on a stock.

SomethingNew
SomethingNew

@Garbage Can Lid
Was I not clear?

Just

BUY.

THE.

FUCKING.

DIP.

Here's an educational video to help you out:
https://www.youtube.com/watch?v=0akBdQa55b4

cum2soon
cum2soon

@SomethingNew
Nigga i just want to learn how to do due diligence god damn

Emberburn
Emberburn

@StrangeWizard
It's literally gambling
Kill yourself, desu

viagrandad
viagrandad

@StrangeWizard
mfw this kid was digging in his couch today for change to get a mcdouble

kek neeto advice

Inmate
Inmate

@Supergrass
Do you know what I should incest in?
I died.

Evilember
Evilember

@LuckyDusty
I'm in college (EE), is selling shirts a good source of money? I mean just plain T-shirts maybe with some superheroes or band logo printed on it

King_Martha
King_Martha

@Crazy_Nice
Why the country?who the fuck you going to rent to unless it's commuter belt?

Spamalot
Spamalot

@Supergrass
Lending money to family
getting it back by end of year
ok.

Evilember
Evilember

@CouchChiller
It's in a State Farm MF only probably. You'll have to liquidate and rollover to Vanguard. You can either liquidate it and get a check and make it payable to the firm you're going to deposit it in FBO your name and you have 60 days to get it sent over. You'll get the forms from Vanguard for this.

You can also make the rollover check payable to you and put it in a savings account for up to 60 days before you move it to your new account. As long as there is a trail of the money going from one account to the same type, you're fine

You can only do one rollover per SSN per year so don't fuck it up. Vanguard is safe though. You'll do much better with them.

When I switched companies, my new one has their 401k's with Vanguard and it was a lot better than my fidelity-held 401k.

Good luck bruh

RumChicken
RumChicken

@Evilember
Thanks man. I'm very nervous to try to roll it over cause I'm a poor college student right now and wont be able to pay the fee if something goes wrong. It seems that it isnt too complicated a process though. I'll definitely call Vanguard and talk to them about it sometime next week as well.

askme
askme

How do you know when an alt-coin will tank? Pure luck?

King_Martha
King_Martha

@RumChicken
No problem. I used to be an unlicensed sales assistant for a financial group. I dealt with this type of stuff a lot. It's very simple...

Vanguard will be the one with all the paperwork since State Farm has nothing to do with this except for give up the money. VG will be doing all the work. You sign an ACAT form from VG that request State Farm to liquidate your funds into cash and then create a check made payable to VG FBO you or payable to you only. Sometimes there is an option to wire the money, but check is a lot easier so you can have everything all together. Send it in with an account creation form for a TRANSFER IRA account and get with an advisor on what you want to put your money in and it'll go through in about two-to-three weeks.

So this is not labeled as a Rollover. This is going to be a Transfer or ACAT. It is going from Roth IRA to Roth IRA. There is usually a small fee involved with ACATs of around $40-80 and that gets taken out of your money when you transfer.

A rollover IRA is when you take a 401k or 403b, etc... and move that to an IRA or another 401k. Rollovers go a lot smoother than ACATs usually since big brokers usually handle those and can communicate well with each other. You can only do one rollover per year, but are allowed multiple transfers into an IRA to consolidate IRAs or ladders or CDs easier.

Lots of fun stuff.

happy_sad
happy_sad

@askme
my best guess is when trump loses the election trumpcoin will drop and then decline in value until he stops being relevant again

Stupidasole
Stupidasole

@King_Martha
There is usually a small fee involved with ACATs of around $40-80 and that gets taken out of your money when you transfer.
Vanguard does not charge a transfer fee. Whether State Farm has an account closure fee I do not know.

TreeEater
TreeEater

What the hell is shorts? How do I short a stock and what the hell does shorting the dollar even mean?

RavySnake
RavySnake

@TreeEater
basically, shorting is you "sell" shares of a stock that have been loaned to you and you are betting that the price of that stock will drop where you will buy back into the stock and thus profit

Shorting is dangerous for amateur investors because you could potentially accrue infinite debt if the price of the stock you're shorting never drops and you never cut your losses

LuckyDusty
LuckyDusty

@viagrandad
@Emberburn
not an argument

PurpleCharger
PurpleCharger

@SomethingNew
Pulling a Targaryen system then

Emberburn
Emberburn

@TechHater
Depends on the platform I guess

WebTool
WebTool

How does one make money from a stock falling? I don't get that.
Also if people say "bet against" how exactly is this done? With whom do you bet (banks, investment firms)?

Evil_kitten
Evil_kitten

Is there any decent ways to find test markets online without someone stealing your ideas?

kizzmybutt
kizzmybutt

@WebTool

Its one of the more useful things I learned in my finance degree at college.

Basically shorting is where you borrow shares from your broker (who either owns the shares or borrows it from a willing customer).

You take the shares that you borrowed from your broker and sell them on the market for market price.

If the price drops a bunch you then take the money that you made from selling the stock and buy it back at a lower price and give it back to the broker. The difference between the high price you sold it at and the low price you bought it back you get to pocket.

Sounds great... However if the stock keeps going up then you owe your broker money.

In order for them not to get shit on by your bad trading, they require a deposit usually 30-40% above what you made.

So if you had sold the shares at $1000 you need to keep $1400 in the broker account until the buy back occurs. If say the price of the shares goes above $1400 you have to put more money into the account otherwise they will automatically buy the shares with the money you have and close out the process.

In theory you can keep putting in more money as the price increases, but in theory you could lose infinite money if the price keeps going up.

There is more detail to this that includes math formulas which I am not going to get into, but that is the general idea.

hairygrape
hairygrape

@kizzmybutt

Oh and almost forgot. Borrowing shares is considered a loan which most brokerages charge 6-7% long term, so you don't want to short a stock for very long.

Poker_Star
Poker_Star

@hairygrape

Which is how the brokerages make their money. They don't care what you sell the stocks at as long as they get the borrowed shares back plus interest of what you borrowed.

Methnerd
Methnerd

@King_Martha
Tons of road work, reserves being rebuilt. My grandma lives near one house I'm scoping out and I think I could make 50 a week off her cleaning it

BlogWobbles
BlogWobbles

@Spamalot
I lent about $5k to my brother, got it back at great interest from my mother.

My Brothers not great, but not that much of a scumbag, she was going to pay all along,

DeathDog
DeathDog

@BlogWobbles
That was about 3 years later though

TechHater
TechHater

@Spamalot
They said June, then July. I'm obviously still waiting but I told them to just cut me a cheque instead of 500 cash a payday. I'm partially here because I have better credit than those two and make more already than my real mom

JunkTop
JunkTop

In Europe. Looking to buy stocks. No CFDs. What website do I use?

Firespawn
Firespawn

@kizzmybutt
Very interesting, thank you.
As you have a finance degree, could you recommand one or more good intro books? None of that self help stuff, I mainly want to learn the vocabulary and structures of the finance sector.

CouchChiller
CouchChiller

@Firespawn
The Intelligent Investor by Ben Graham is very widely considered to be very good. Maybe its not as action packed as people on this board would like, but it has very solid advice. And the main man Warren B even says its the shit :O

TreeEater
TreeEater

@CouchChiller
I probably should have specyfied that I'm textbooks

RavySnake
RavySnake

I am a 20 year old NEET and have never been formally employed. Recently I've been to two job interviews, one at Target and one at my local supermarket for overnight stocking positions

After a minute, both of the interviewers started becoming visibly uncomfortable and nervous and hurriedly finished up the interview less than two minutes later

What the fuck?

BinaryMan
BinaryMan

@RavySnake
Do you stink?
What do you look like?

Illusionz
Illusionz

@BinaryMan
I SERIOUSLY doubt it's a hygiene issue, but I suppose it's possible.

I wore a blank white T-Shirt, black slacks, and a pair of midtop Vans since I have nothing else. I showered and shaved both days, leaving a respectable amount on my chin both times and wore deodorant.

Supergrass
Supergrass

Those of you who don't have a job, how do you make money?

I'm a wagecuck and my job is making me absolutely miserable, I want to know if it's possible to work from home with no experience I have a major interest in learning stocks though, but so far I've only invested in relatively safe blue chips (pic related)

TechHater
TechHater

@CouchChiller
I got one of Kevin O'Learys books. Anybody else that gets Canada good?

CouchChiller
CouchChiller

@Emberfire

Me again. Finished the god damn "Rich Dad Poor Dad" in 1 day. Now I want to learn the basics of accounting. Are the principles universal or do they change country by country? I don't live in the US.

If accounting principles are universal, which book would you recommend me? I've found "Accounting for dummies". Was thinking of starting from there.

FastChef
FastChef

How do I use complex mathematics to get rich?

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