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Posted: 1/11/2005 2:50:44 PM EDT
Any ideas? I'd LOVE to invest my money and hopefully turn a tidy sum while I'm away at college.

Ben
Link Posted: 1/11/2005 2:57:53 PM EDT
Host porn sites
Link Posted: 1/11/2005 2:59:38 PM EDT
Link Posted: 1/11/2005 3:01:10 PM EDT
Roth IRA.  

Every dime it makes is 100% tax free when you take it out after retirement.  AND it's 100% tax free while it's in there compounding, meaning you don't take a hit every year on your earnings.  It's the best long term investment you could possibly make.  At least, that's what I think.

Link Posted: 1/11/2005 3:02:32 PM EDT
you could buy 20 surplus rifles. enfields, mausers, and mosins.
Link Posted: 1/11/2005 3:05:21 PM EDT
Link Posted: 1/11/2005 3:07:13 PM EDT
pay off all your debt.
Link Posted: 1/11/2005 3:07:28 PM EDT

Originally Posted By MillerSHO:

Originally Posted By lazyengineer:
Roth IRA.  

Every dime it makes is 100% tax free when you take it out after retirement.  AND it's 100% tax free while it's in there compounding, meaning you don't take a hit every year on your earnings.  It's the best long term investment you could possibly make.  At least, that's what I think.





I'm jsut learnign about this stuff so bear with me here.

Your saying the Roth IRA is interest free during the term of the IRA (Common) and it's ALSO interest free when you pull out later down the road(Not common)?

Sounds like getting your cake and eating it too, what the catch?



Something like 2000 per year and ya cant touch it for a long time.
The kid wants to make money in the next 4 years.
Link Posted: 1/11/2005 3:12:26 PM EDT

Originally Posted By MillerSHO:

Originally Posted By lazyengineer:
Roth IRA.  

Every dime it makes is 100% tax free when you take it out after retirement.  AND it's 100% tax free while it's in there compounding, meaning you don't take a hit every year on your earnings.  It's the best long term investment you could possibly make.  At least, that's what I think.





I'm jsut learnign about this stuff so bear with me here.

Your saying the Roth IRA is interest free during the term of the IRA (Common) and it's ALSO interest free when you pull out later down the road(Not common)?

Sounds like getting your cake and eating it too, what the catch?



Roth contributions are after tax meaning you pay tax on the money before contributing.However earnings are not taxable upon withdrawl after the qualifying age is met (591/2? years old). So whatever you make is tax free. Roth IRA is a good deal although the 3k annual contribution ceiling is somewhat restrictive.
Link Posted: 1/11/2005 3:12:56 PM EDT
I have NO DEBTs. I have a mint all matching #s Norinco SKS that I plan to keep, although I will be looking for some more excellent condition rifles that I could keep and sell later at profit...

Ben
Link Posted: 1/11/2005 3:14:16 PM EDT
Air Fare to Las Vegas is only about $150 now with the Fare Wars...might be a good investment
Link Posted: 1/11/2005 3:15:37 PM EDT
[Last Edit: 1/11/2005 3:17:55 PM EDT by Cope]
I thought you could pull the principal back out of a roth if you really needed it, but had to leave the interest until qualifying age?
Link Posted: 1/11/2005 4:16:12 PM EDT
[Last Edit: 1/11/2005 4:17:36 PM EDT by phlii]
The maximum contribution to a Roth IRA increased to $4000 this year and will increase to $5000 in 2008.  I think it is probably the same for Traditionals.  A Roth IRA is best for people who have AT LEAST 15 years until retirement.  Also, it is not a fire and forget financial instrument.  In order to realize its full benefit, you should try to max it out every year.  Also, it depends how you index them.  Most are indexed on some kind of mutual fund, but since 90% don't do as well as the S&P 500, it is usually a good move to get it indexed on that one.  You will also want to ensure that any dividends earned are put back into the fund rather than paid to the company managing the IRA.  Hope that helps.

Edited to add:

There are some circumstances under which money can be withdrawn without penalty.  One is a down-payment for a first time homebuyer.
Link Posted: 1/11/2005 4:18:04 PM EDT
Link Posted: 1/11/2005 4:31:16 PM EDT

Originally Posted By phlii:
The maximum contribution to a Roth IRA increased to $4000 this year and will increase to $5000 in 2008.  I think it is probably the same for Traditionals.  A Roth IRA is best for people who have AT LEAST 15 years until retirement.  Also, it is not a fire and forget financial instrument.  In order to realize its full benefit, you should try to max it out every year.  Also, it depends how you index them.  Most are indexed on some kind of mutual fund, but since 90% don't do as well as the S&P 500, it is usually a good move to get it indexed on that one.  You will also want to ensure that any dividends earned are put back into the fund rather than paid to the company managing the IRA.  Hope that helps.

Edited to add:

There are some circumstances under which money can be withdrawn without penalty.  One is a down-payment for a first time homebuyer.



I'm sold.  Where do you recommend on the net to go and transfer a few thousand into a Roth IRA indexed to the S&P500?  I want no human interaction on this deal.  Just register, transfer the money, and receive some type of proof that my money is where I want it to be invested. Am I nuts for wanting to invest in this manner? (no human contact)  

Just for kicks, I signed up over the weekend to play around with the market HERE .  In 2 days, I lost $1167 by buying 100 shares each in 9 different companies.  I simply chose stocks of companies that I buy products from on a regular basis.  Most companies I chose are construction material manufacturers.  Those 2 days of results tell me that I would rather play it safe and go with the S&P.        
Link Posted: 1/11/2005 4:51:04 PM EDT
Link Posted: 1/11/2005 4:54:52 PM EDT
I think you should use it to produce a prototype of my invention idea.

It is a device you install in your car to run your windshield washer fluid thrrough the radiator so it is hot when it's sprayed onto the windshield.

Link Posted: 1/11/2005 4:57:16 PM EDT
[Last Edit: 1/11/2005 4:58:40 PM EDT by Killbot]
An AR50

By the time you get out, they could be a thing of the past at retail
Link Posted: 1/11/2005 5:01:21 PM EDT
All the ARFcom hive mind investment gurus, jump right in here. I'm looking starting some mutual fund investing soon, and am a little bewildered by all the options available.

P.S. What about annuitys? What are those all about & what are the tax implications?
Link Posted: 1/11/2005 5:05:32 PM EDT
IRA, Roth or otherwise, AFTER you pay down any credit card debt. Do not invest money you may need for college/expenses. That is not investment money.

SPDR - S&P 500 (broad market index) depository receipts. Not managed, low fees. In an IRA a $2000 investment should costs about $10 per year in fees.




Link Posted: 1/11/2005 5:11:00 PM EDT

Originally Posted By MillerSHO:
I've been looking at this website for a few hours and it rocks.

Lots of good info branches out from that site also.

Can't wait to figure out my investment plan and start it up.



Which website?  Did you forget the link?

I know what you mean about itching to invest.  Money sitting in my money market account just isn't going places...
Link Posted: 1/11/2005 5:13:06 PM EDT
WOw. I was looking for something less complicated, like sticking my money in a CD or Bond or marrying a porn star.

Ben
Link Posted: 1/11/2005 5:26:32 PM EDT
Since my background is economics, I think I'll give a little advice.
Gold or silver or both or find a gold fund.
Just about anything else you invest in today will return according to the value of the dollar. The value of the dollar is currently rated at .03 cents as compared to one century ago.
As long as the federal government prints money, sells it in order to create debt, any currency related transaction will come up negative at the end. Simple math.
The FED currently pumps about 500 billion dollars into the economy which happens to be debt to us. The FED creates the money out of thin air, the government calls it generally accepted accounting principles. So every dollar you have and every piece of property you obtained is devaled commiserate with the amount of debt we incur.
Remember it has long been understood on Wall Street that the money you invest in a retirement fund today will be greatly reduced by inflation so there is no real tax benefit derived, plus you are now using greatly inflated dollars.
Good luck and chose wisely.
Link Posted: 1/11/2005 5:44:39 PM EDT
Link Posted: 1/11/2005 6:01:19 PM EDT
If you are going to go ahead with the ROTH, diversify your mutual funds among various asset classes.

I don't know anything about your goals or objectives or how you handle certain risks, but a typical type of moderate allocation would be something along the lines of:

25% Large Growth
25% Large Value
10% Small Core
15% International
25% Fixed Income

If you need to familiarize yourself with asset classes just do a google search on "asset allocation" or "asset classes".

A mutual fund family that I personally like is www.americanfunds.com, so you might want to check out some of their funds.

(No, I don't work for them.)
Link Posted: 1/11/2005 6:27:19 PM EDT
go to scottrade.com, the IRAs are penalty free, the trades are only $7 for each trade (buy and sell).
Link Posted: 1/11/2005 6:35:43 PM EDT
You could purchase a painting of mine.....
Link Posted: 1/11/2005 7:10:38 PM EDT

Originally Posted By fadedsun:
WOw. I was looking for something less complicated, like sticking my money in a CD or Bond or marrying a porn star.


Buying herpes treatments gets expensive.  Stick with non-sluts.

Bonds are probably going to fall for a while.  Interest rates are rising, and forecasters think that the Fed is going to have to move faster than people expect to offset inflation.  The guy who bought homebuilding supplier stocks probably got hit in part by this;  homebuilding companies are declining due to the rising rates and anticipated decline in home sales.

CDs are going to be the safest for a small amount like that, but you won't make much.  If you want to use the money for something else within the next few years, it's your best option.  If you want to put it away for eventually buying a house or retiring, the Roth IRA is a pretty good deal, although it limits you to what you can do with the money.

You could've shorted TASR.  You can still short NAT or XMSR.  I don't see many buying opportunities right now;  I'm sticking money into ETFs like EWT (Taiwan), EWA (Australia), and EWJ (Japan).  If you can find a good European mutual fund, that might work out too;  I like Eastern Europe.  There is still downward pressure on the US Dollar, so the currency exchange rates will work in your favor -- but the rising interest rates might turn this around, magic says "WTF D00D?"
Link Posted: 1/11/2005 7:13:10 PM EDT
Link Posted: 1/11/2005 7:21:07 PM EDT
[Last Edit: 1/11/2005 7:21:34 PM EDT by Red_Beard]

Originally Posted By Barkinhound:
You could purchase a painting of mine.....




got any pictures of them?



morbid joke: planning on offing yourself anytime soon?

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