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Posted: 12/11/2003 2:42:24 PM EDT
I want to set up some small investments for my son. I was thinking of some stock buys in small amounts since I'm a poor hardworking bastard like most of us. He already has a bank acct which I add to every month. What I'm talking about is mostly stocks and stuff. The kind of stuff my parents were too afraid to sink money into for me and my brothers.
Link Posted: 12/11/2003 3:03:46 PM EDT
[Last Edit: 12/11/2003 3:04:06 PM EDT by hielo]
Check out [url]http://www.buyandhold.com[/url] Then get your son into investing (I started my kids out when they were both about 5) Make it a game. Kids love it. They get to invest in the companies that are important to them. They also learn an enormous amount of economics.
Link Posted: 12/11/2003 3:07:50 PM EDT
Other than classic motor vehicles (like a Harley) that are excellent investments, I'd suggest guns and gold. Easy to store, useful in time of need, liquidity in time of SHTF and both should increase in value adequately.
Link Posted: 12/11/2003 3:24:12 PM EDT
Index funds
Link Posted: 12/11/2003 3:32:03 PM EDT
a good 1911. [:D]
Link Posted: 12/11/2003 3:36:23 PM EDT
Go see a Financial Advisor, ask about 529 college funds, and Roth IRA. The 529 is a college fund that you or anybody you know can put money into for college. It grows like a Roth IRA and you can control it. So if little Johnny is a f*ck up at 18 and would waste it, you can pass it down to the other children. As for a Roth IRA, it would be taxed at you income level until they are 18, but you can put away $3000 a year for their retirement. Just think if you started saving when you were 2 or 3 years old instead of 35.
Link Posted: 12/11/2003 5:02:47 PM EDT
Hospitals, nursing homes, retirement homes, and hospices. A growth industry.
Link Posted: 12/11/2003 5:12:06 PM EDT
Teach them to shoot
Link Posted: 12/11/2003 5:33:30 PM EDT
1) Don't ask for investment advice on a gun forum 2) Roth IRA's kick ass and are the best thing going. Tax-free money on the back end. Can't beat that unless you are Swiss. There is no way the Federal Government will keep these going for very long so get one started for your kid while you can. Remember, Uncle Sam gets pissed when he ain't paid. One thing to note: I know as an adult you physically have to earn a certain amount a year for a Roth, may be different rules for kids. He NEEDS a Roth. 3) I use Morningstar.com. Unbiased, straight-up good investing advice. 4) Get index funds (Vanguard S and P 500) or good mutual funds with managers you like and long track records. 5) Go see a financial advisor, NOT a broker at a firm but an independent advisor who has no alterior motives. Just so it is clear, a Roth IRA is just like any other investing account. It is a type of account, not an investment in itself. In other words, once you have money in a Roth and you can use that money to buy stocks, bonds, mutual funds, etc.
Link Posted: 12/11/2003 5:47:47 PM EDT
Originally Posted By Sharkman_75: Index funds
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All three of my mutuals beat the S&P 500 index fund on YTD return. Index funds are OK, but I wouldn't have been too thrilled to be holding one. With a such a long investment horizon you would be foolish to settle for the returns of INDEX FUNDS.
Link Posted: 12/11/2003 5:49:19 PM EDT
Originally Posted By bigjuice: 1) Don't ask for investment advice on a gun forum
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No truer word have ever been spoken. I have seen some of the dumbest shit ever on this site regarding investment strategies.
Link Posted: 12/11/2003 5:49:23 PM EDT
A Roth IRA is not an option unless your son has earned income. However, you can contribute up to $2,000 annually to an [b]Education IRA[/b] for him. The money grows [b]tax free[/b] and can be used for almost every college expense. There are many forms of investments in which an Education IRA can be invested....stocks, CDs, you name it. That would take some of the expense monkey off his back so that he can get an education. Should he decide that he doesn't want to go to college, that money can be transferred [b]entirely[/b] to another sibling. Having a degree (and a learned work ethic) would probably pay off more in the long run than several thousand in a bank account. and yes, I have one for my son.
Link Posted: 12/11/2003 5:56:29 PM EDT
M16, FNC or HK sear. [:D] As a bonus you can shoot them while he grows up.
Link Posted: 12/11/2003 6:11:05 PM EDT
Originally Posted By 7: M16, FNC or HK sear. [:D] As a bonus you can shoot them while he grows up.
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Any transferable on a form 4 machine gun.Fantastic yield,little risk...at least so far.
Link Posted: 12/11/2003 6:16:56 PM EDT
LAND! Lots of land! Find a growing community/town/city whatever and research city growth and land trends. What now looks like barren wilderness will more-than-likely be worth a mint 20 years from now. They don't build anymore land and he who owns it rules!!!
Link Posted: 12/11/2003 6:17:14 PM EDT
Johnny Reno, thanks for clearing that up about Roths. I figured you could not buy one for a kid (unless your kid is old enough to get taxable income which means he can have a Roth). Definitely go with the Education IRA then. Buy some index funds and some managed funds. If this is all Greek to you, get to reading. And get a Roth set up for yourself if you qualify.
Link Posted: 12/11/2003 8:20:25 PM EDT
I've found so far the best investment I made for my son was time with him. The rest takes care of itself.
Link Posted: 12/12/2003 12:29:20 AM EDT
[Last Edit: 12/12/2003 12:29:43 AM EDT by BlackMountainArmory]
Originally Posted By bigjuice: Johnny Reno, thanks for clearing that up about Roths. I figured you could not buy one for a kid (unless your kid is old enough to get taxable income which means he can have a Roth). Definitely go with the Education IRA then. Buy some index funds and some managed funds. If this is all Greek to you, get to reading. And get a Roth set up for yourself if you qualify.
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Actually, that's not quite right. Kids don't need [b]taxable[/b] income, they need [b]earned[/b] income to contribute to a Roth. Do you have your own business? Can you find a way to pay your child through the company? If the kid isn't old enough to do any real work, how about using him as a model in your advertising? There are other ways too. Find a good tax guru in your area and find a way to make it work. Education IRAs are great too. One downside is that any balances in the accounts will be considered as assets if the child applies for financial aid.
Link Posted: 12/12/2003 12:36:18 AM EDT
Originally Posted By Henny: I've found so far the best investment I made for my son was time with him. The rest takes care of itself.
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So far, the best advice I've seen.
Link Posted: 12/12/2003 1:10:09 AM EDT
[Last Edit: 12/12/2003 1:22:35 AM EDT by raven]
Gold and gold stocks have just entered a big bull market within the last 12-18 months. Still early, buy in, just 10% of the money you have for your kid. Gold stock symbols: [url=http://stockcharts.com/def/servlet/SC.web?c=NEM,uu[h,a]dacayyay[dd][pb50!b200][vc60][iUb2­1!La12,26,9]&pref=G]NEM[/url] [url=http://stockcharts.com/def/servlet/SC.web?c=au,uu[h,a]dacayyay[dd][pb50!b200][vc60][iUb21­!La12,26,9]&pref=G]AU[/url] [url=http://stockcharts.com/def/servlet/SC.web?c=kgc,uu[h,a]dacayyay[dd][pb50!b200][vc60][iUb2­1!La12,26,9]&pref=G]KGC[/url] [url=http://stockcharts.com/def/servlet/SC.web?c=gg,uu[h,a]dacayyay[dd][pb50!b200][vc60][iUb21­!La12,26,9]&pref=G]GG[/url] [url=http://stockcharts.com/def/servlet/SC.web?c=bgo,uu[h,a]dacayyay[dd][pb50!b200][vc60][iUb2­1!La12,26,9]&pref=G]BGO[/url] [url=http://stockcharts.com/def/servlet/SC.web?c=gss,uu[h,a]dacayyay[dd][pb50!b200][vc60][iUb2­1!La12,26,9]&pref=G]GSS[/url] [url=http://stockcharts.com/def/servlet/SC.web?c=rgld,uu[h,a]dacayyay[dd][pb50!b200][vc60][iUb­21!La12,26,9]&pref=G]RGLD[/url] [url=http://stockcharts.com/def/servlet/SC.web?c=wht,uu[h,a]dacayyay[dd][pb50!b200][vc60][iUb2­1!La12,26,9]&pref=G]WHT[/url] Stock indexes: [url=http://stockcharts.com/def/servlet/SC.web?c=$xau,uu[h,a]dacayyay[dd][pb50!b200][vc60][iUb­21!La12,26,9]&pref=G]XAU[/url] and [url=http://stockcharts.com/def/servlet/SC.web?c=$hui,uu[h,a]dacayyay[dd][pb50!b200][vc60][iUb­21!La12,26,9]&pref=G]HUI[/url]
Link Posted: 12/12/2003 1:11:16 AM EDT
LAND! Lots of land! Find a growing community/town/city whatever and research city growth and land trends. What now looks like barren wilderness will more-than-likely be worth a mint 20 years from now. They don't build anymore land and he who owns it rules!!!
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i second this. my uncle bought a 25 acre lot of land in the mid 70's just outside of olympia washington. he paid about$20,000 for it. he made it into a small christmas tree farm. when it got too much work for him, he abandonded the tree farm idea, and pretty much forgot about the land. Olympia grew into a big town, around his land. 2 years ago a couple lawyers call him up wanting to buy his land. he got $2.5 MILLION for it. i don't know much about investing, but that seems like a pretty good return on your overgrown christmas tree farm.
Link Posted: 12/12/2003 5:39:20 AM EDT
DO NOT buy gold. Raven, gimme a break. Every 10 years or so "The Gold Rush" investing schemes re-emerge. If you want to buy gold, physically go to your bank and buy it, put it in a safe and know that it is worth whatever you paid for it. Land is a great investment, but since you said "small investments" land may not be the route you want to take. You also will get taxed from selling the land for cash if you need it bto pay for his college. So again, go for the Roth if you can work it out. Thanks for the better explanations of who qualifies. A roth and an education IRA both may be a good idea, the Roth for his retirement and the education IRA for college. -Juice Out
Link Posted: 12/12/2003 6:31:49 AM EDT
Are you saving for your kid education?...If so, take a look at this....The 529 plan. [url]http://www.howstuffworks.com/529.htm[/url] To find out more, do a search on 529 and there are plenty out there to look. I took the Virginia College Prepaid Tuition (another 529) for my son last year and I am so glad that I did so. College tuition all shoot up sky high this year and will continue so.
Link Posted: 12/12/2003 7:29:23 AM EDT
bigjuice is right, don't buy gold. First of all, it is the highest that it's been for a long time. Second, it only goes up on otherwise negative news like the recession, the weakness of the dollar, etc. If the economy has serious problems, i.e., exceeding those that we have seen recently with the economy & the dollar, then we really are in a SHTF situation & the gold probably would be illiquid & thus valueless.
Link Posted: 12/12/2003 7:46:20 AM EDT
Buy a small modest house, rent it out until he's 18 then give it to him. That's a hell of a leg up for a young person.
Link Posted: 12/12/2003 8:03:34 AM EDT
Make enough money so that his mom can stay home and raise him to be a citizen rather than another member of this society raised in a warehouse by uncaring day care workers. Invest your time in him so he learns to be a man not a male raised by M-TV.
Link Posted: 12/12/2003 8:06:42 AM EDT
[Last Edit: 12/12/2003 8:07:19 AM EDT by StariVojnik]
Invest in a Barrett .50 BMG Keep that baby NIB and in 10 years you'll be able to sell it for more cash! There's a bill that they are trying to pass to ban all .50 calibur rifles. Haven't kept up with the latest news regarding this, but the fuckers are out there scheming to ban these rifles.
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