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  1. #12901
    Join Date
    Sep 2005
    Location
    Not in the PRB
    Posts
    32,783
    Quote Originally Posted by Name Redacted View Post
    I had a personal finance class in college. It was valuable. Of course that was when I was “going back to college” in my 30s. Ugh. Before that I barely even had a bank account.
    Quote Originally Posted by californiagrown View Post
    Finance 101 was a pre-req class in my engineering school. Basically the importance of compound interest was pounded into our heads for a a semester.
    I never had anything like that (and it's not like I had an objectively shoddy education, quite the opposite). Thankfully, I was always naturally good at finance/numbers, and I bounced one check in college and that was all it took for me to make sure that never happened again. But kids should be learning this stuff BEFORE they are independent adults. I know a lot of people who got buried in credit card debt in their 20s because they didn't understand what they were doing.
    "fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
    "She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin
    "everybody's got their hooks into you, fuck em....forge on motherfuckers, drag all those bitches across the goal line with you." - (not so) ill-advised strategy

  2. #12902
    Join Date
    Aug 2006
    Posts
    7,919
    I had several friends get hooked on credit cards in college. Always thought it was predatory the way they tried to manipulate kids with zero real world experience into shitty ass cards with like a 600 dollar limit and 20+% interest.
    Live Free or Die

  3. #12903
    Join Date
    Feb 2005
    Location
    North Vancouver/Whistler
    Posts
    13,985
    Kevin Hart has a really good program where he educates inner city kids about personal finances. He partnered with a fairly major bank to do that. He said it was life-changing for the kids to see a wealthy black guy make it. The bankers who participate in the program rave about it. It seems like a really good thing to do.

    Financial education doesn't have to complex or esoteric or whatever.... it can just be about the sheer power of numbers.

  4. #12904
    Join Date
    Oct 2003
    Location
    slc
    Posts
    17,891
    Quote Originally Posted by Danno View Post
    I never had anything like that (and it's not like I had an objectively shoddy education, quite the opposite).
    Same on both counts. It's nuts in retrospect.

    Quote Originally Posted by AdironRider View Post
    I had several friends get hooked on credit cards in college. Always thought it was predatory the way they tried to manipulate kids with zero real world experience into shitty ass cards with like a 600 dollar limit and 20+% interest.
    I remember there always being booths set up on campus where you could sign up for CC's. If you signed up for several at once you could get stupid free shit like a pair of knock-off Oakleys. It's so clearly predatory that it's hard to believe it was (still is?) legal.

  5. #12905
    Join Date
    Dec 2010
    Posts
    3,896
    Quote Originally Posted by LeeLau View Post
    Kevin Hart has a really good program where he educates inner city kids about personal finances. He partnered with a fairly major bank to do that. He said it was life-changing for the kids to see a wealthy black guy make it. The bankers who participate in the program rave about it. It seems like a really good thing to do.

    Financial education doesn't have to complex or esoteric or whatever.... it can just be about the sheer power of numbers.
    Some real basic fundamentals will get you a long way.

  6. #12906
    Join Date
    Feb 2020
    Location
    Sun Valley
    Posts
    73
    Finacial education is really needed before kids start picking colleges. A little cost/benefit anaylsis goes a long way to avoid serious mistakes for both student and families.

    I'd sit w my pre-teen kid watching Dave Ramsey as his guests cut up their CC after wallowing in debt screaming - "I'm debt free!!!"

  7. #12907
    Join Date
    Feb 2020
    Location
    Sun Valley
    Posts
    73
    Quote Originally Posted by AdironRider View Post

    Target funds are great start, a simple three fund etf portfolio will outperform almost everything else out there (outside of the stuff LeeLau does, but that requires a lot more knowledge and time).
    This is what she has. I'm not a fan of International Stocks or Bonds. What would you do differently?

    Vanguard 2060 Fund Exp ratio .15

    Vanguard Total Stock Market Index Fund Investor Shares 54.10%
    Vanguard Total International Stock Index Fund Investor Shares 36.50%
    Vanguard Total Bond Market II Index Fund Investor Shares† 6.80%
    Vanguard Total International Bond Index Fund Investor Shares 2.60%
    100.00%














  8. #12908
    Join Date
    Oct 2006
    Location
    MA
    Posts
    7,017
    What kind of platform is she investing on? What are the other options in terms of target date or other investment options you can piece together.
    Decisions Decisions

  9. #12909
    Join Date
    Nov 2002
    Location
    Behind the Zion Curtain
    Posts
    4,875
    Quote Originally Posted by Name Redacted View Post
    Just started a Robinhood acct this morning w/ $100 today. Gonna play around and see how it goes. Invest $100 a month till I feel comfortable stepping it up. Pretty fun so far. Spread that $100 across a bunch of different stocks and cryptos.
    Have fun! I started with $2k last April and now have a lot more than that into it, it’s an addiction. The scrap guy came by the shop yesterday, $81 apiece to me and my employees. Mine went into the market, of course.

    I bought 3 more shares of EPD, now have 78 of them, my midstream was off today just as the majority of the energy sector, coulda bought em for less than I paid. But, I still feel good about the sector and where I’m at in it.

    What’d ya buy?

  10. #12910
    Join Date
    Dec 2010
    Posts
    3,896
    Quote Originally Posted by Name Redacted View Post
    Just started a Robinhood acct this morning w/ $100 today. Gonna play around and see how it goes. Invest $100 a month till I feel comfortable stepping it up. Pretty fun so far. Spread that $100 across a bunch of different stocks and cryptos.
    Am i an idiot? (dont answer that). You can buy crypto through a normal brokerage like RH or Etrade? I thought buying crypto was a totally separate deal with crypto wallets, separate exchanges, etc? Or are you just talking about some random crypto tracking ETF or something?

  11. #12911
    Join Date
    Feb 2005
    Location
    North Vancouver/Whistler
    Posts
    13,985
    I sold GME 60C expiring today with the assumption I would keep the money as they would expire ootm. AppearsI may be wrong and may be forced to take more profits

  12. #12912
    Join Date
    Dec 2009
    Location
    The Mayonnaisium
    Posts
    10,467
    Lee, what's your take on value guys crying foul with respect to the Fed muddying the market? Sour grapes over an inability to adjust to a market that is permanently changed or another example of prescience for what is around the corner?

  13. #12913
    Join Date
    Aug 2004
    Location
    New Haven Line heading north
    Posts
    2,944
    Quote Originally Posted by LeeLau View Post
    I sold GME 60C expiring today with the assumption I would keep the money as they would expire ootm. AppearsI may be wrong and may be forced to take more profits
    C’mon GME. Drop a fat secondary right now.
    Charlie, here comes the deuce. And when you speak of me, speak well.

  14. #12914
    Join Date
    Feb 2005
    Location
    North Vancouver/Whistler
    Posts
    13,985
    Quote Originally Posted by Stu Gotz View Post
    C’mon GME. Drop a fat secondary right now.
    Was so tempted to sell there

  15. #12915
    Join Date
    Feb 2005
    Location
    North Vancouver/Whistler
    Posts
    13,985
    Quote Originally Posted by Mazderati View Post
    Lee, what's your take on value guys crying foul with respect to the Fed muddying the market? Sour grapes over an inability to adjust to a market that is permanently changed or another example of prescience for what is around the corner?
    Cry all one wants. I'm not fighting trillions of dollars. My BTC and RIOT bet is predicated on the Fed further debasing the USD

  16. #12916
    Join Date
    Aug 2004
    Location
    New Haven Line heading north
    Posts
    2,944
    Halted up 69%. Nice.
    Charlie, here comes the deuce. And when you speak of me, speak well.

  17. #12917
    Join Date
    Dec 2009
    Location
    The Mayonnaisium
    Posts
    10,467
    Quote Originally Posted by LeeLau View Post
    Cry all one wants. I'm not fighting trillions of dollars. My BTC and RIOT bet is predicated on the Fed further debasing the USD
    Their quarrel makes sense to me but seems a bit Sysiphean given market tail winds from seemingly every direction.

  18. #12918
    Join Date
    Nov 2008
    Location
    Edge of the Great Basin
    Posts
    5,539
    Maybe it's a distinction without a difference when it comes to debasing but the Fed has officially adopted “flexible average inflation targeting.” Meaning the Fed will do what it takes to average 2% inflation long term, including tightening should the need arise. Using TIPS spread as an inflation forecast the policy seems to be working:

    5 years: 2.20%
    10 years: 2.12%
    30 years: 2.1%

    Long Term Average: 2.03%

  19. #12919
    Join Date
    Aug 2004
    Location
    New Haven Line heading north
    Posts
    2,944
    GME gets halted, so the merry band heads over to $AMC. What a market.
    Charlie, here comes the deuce. And when you speak of me, speak well.

  20. #12920
    Join Date
    Feb 2005
    Location
    North Vancouver/Whistler
    Posts
    13,985
    WoohooClick image for larger version. 

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  21. #12921
    Join Date
    Nov 2010
    Location
    Valley
    Posts
    446
    Holding strong with 420 (actually 422, should sell 2) shares of GME! Will take principal out at $100/share, maybe...


    Sent from my iPhone using Tapatalk
    Last edited by CovertM; 01-22-2021 at 12:35 PM.

  22. #12922
    Join Date
    Dec 2016
    Location
    In a van... down by the river
    Posts
    13,652
    GME activity response:


  23. #12923
    Join Date
    Apr 2004
    Location
    Southeast New York
    Posts
    11,766
    EV Go (EVGO) and Chargepoint SPACs are coming soon. How do you get in on that early?

  24. #12924
    Join Date
    Oct 2009
    Location
    seatown
    Posts
    4,117
    i love the mockery of the markets with GME, elephant in the room

  25. #12925
    Join Date
    Sep 2006
    Posts
    8,245
    Nutso these days. I can just picture tens of thousands, maybe even more of RobinHood types on their computers like they were playing Vegas slot machines.
    "We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch

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