Investment questions.

[Capt Caveman]

What is this guys story? OP, why do you refer to your parents household and property as if it's your own? Why do you say you are never going to have your own money to invest with? Based on what I have read, I get the sense that you have failed to ever move out of your parents home and make a life of your own, and yet are attempting to give your parents investment advice completely tainted by your anti-societal philosophies that I can only presume you developed via an internet connection rather than real world experience.

Am I close here?

He has never worked a day in his life and his parent's money pays for the mental institution he is at.

 

[Mxylplyx]

He has never worked a day in his life and his parent's money pays for the mental institution he is at.

Is this true? I guess that would explain a lot.

 

[Exophase]

I don't know why your parents are giving you so many details about their finances to begin with. Maybe they'll stop if they find out you've been sharing it with a random internet forum..

 

[Don Vito Corleone]

I don't know why your parents are giving you so many details about their finances to begin with. Maybe they'll stop if they find out you've been sharing it with a random internet forum..

I would think in the larger scheme of things this would rank fairly low on the list of things he has done to frustrate, hurt and anger his parents over the years. But yeah, I'm sure they wouldn't be thrilled.

 

[Anarchist420]

OP why are you using capital letters and giving what seems to be some thought to grammar? Is this your 2nd (3rd?) personality coming out? If so, he's still as luney and crazed as the person who usually posts random ramblings on here.

And when the hell has the normal household income been 200k, ever?? Unless you specifically mean your family's household income...Then why the hell hasn't it gone up at all? You make no sense.

I meant to say that my parent's income was an average of 200k.
Sorry for the confusion.

What is this guys story? OP, why do you refer to your parents household and property as if it's your own? Why do you say you are never going to have your own money to invest with? Based on what I have read, I get the sense that you have failed to ever move out of your parents home and make a life of your own, and yet are attempting to give your parents investment advice completely tainted by your anti-societal philosophies that I can only presume you developed via an internet connection rather than real world experience.

Am I close here?

I never said what my parents own was my own. And no, you were not really close because unlike most people I realize that the u.s. dollar will collapse some day very likely in my lifetime.

 

[7window]

be proud of your parents. 1.2 is more than a lot of what other people have

 

[Mxylplyx]

I meant to say that my parent's income was an average of 200k.
Sorry for the confusion.I never said what my parents own was my own. And no, you were not really close because unlike most people I realize that the u.s. dollar will collapse some day very likely in my lifetime.

You just clarified everything I needed to know.

Thanks

 

[stlc8tr]

be proud of your parents. 1.2 is more than a lot of what other people have

It's a nice chunk of change but not nearly enough to serve as replacement income during retirement. They will want somewhere in the neighborhood of $5M.

 

[LegendKiller]

How am I not surprised people fell for this troll thread. Isn't this obvious to everybody?

1. Says everything is in stocks and cash. Yet doesn't provide a breakdown. If the father made $200k and only managed to save 20k/yr, over 20 years that would be 400k without a dime of returns. With a modest 5% return they'd have 2.4mm. At 7% they'd have almost 4mm.

2. Never have had any negative returns. *NEVER*. NEVER? NEVER! NEVER!?! Yeah, sure, through the .bombs, through the mortgage crisis, through the sovereign debt crisis, they have *NEVER* had a quarter of negative returns. This broker is not warren buffett on crack.

3. They have only had a few quarters of double digit returns. A few quarters? ROFL.

4. Despite making $200k, they only have a 300k mortgage. Somebody making $200k can *easily* pay a $600k mortgage and sock money away for college, and pay loans, and afford two nice cars. Yet they've only been able to save 10% of their salary and only make 2.1% returns over 20 years. But keep in mind, they are *only* invested in stocks and have *never* had a negative quarter.

5. Cash out of a 401k, take at least a 40% hit on every dollar, yeah, sure, on what portion of their funds? And how many homes should they have bought? 6? Who would manage that? Why would anybody catch a falling knife?

I mean, really, why even respond to this obvious troll. He might as well pretend he's a girl online and that he just had an abortion, maybe more people would buy into it. I know I did, but that's more responding to the nubs.

Not sure why this toolbag hasn't been banned yet.

 

[jagec]

The thing that is dumb about stocks is that they're paper which sucks when the world reserve currency status ends and they're ownership in some company that you don't really have any interest in.

Even if the dollar stopped being the world's reserve currency, that would not automatically invalidate stock ownership. You'll note that countries which don't use the dollar still manage to form companies and issue stock. Some of this stock is bought by other people in other countries using dollars, rupee, pounds, euro, dinar, pesos...

I'm not ever going to have my own money to invest with, but if I did i would never invest in something without intrinsic value

Gold has no intrinsic value. You can't eat it or shelter under it. It is only worth something because people say that it's worth something. Almost exactly like the dollar, in fact.

Going into debt is stupid because if the banks all fail then you become homeless.

If you pay cash for a home, you have a home. But no cash.
If you borrow to buy a home, you have a home, cash, and debt.
If the banks all fail the debt goes away, leaving you with a home and cash. What, are they going to make a list of every property they own a mortgage on and send someone out with a bulldozer?:biggrin:

 

[Anarchist420]

Even if the dollar stopped being the world's reserve currency, that would not automatically invalidate stock ownership. You'll note that countries which don't use the dollar still manage to form companies and issue stock. Some of this stock is bought by other people in other countries using dollars, rupee, pounds, euro, dinar, pesos...

that's true, but the companies are likely to fail in the case of a dollar collapse.

Gold has no intrinsic value. You can't eat it or shelter under it. It is only worth something because people say that it's worth something. Almost exactly like the dollar, in fact.

it is not potentially infinite and it does have some industrial use.

1. Says everything is in stocks and cash. Yet doesn't provide a breakdown. If the father made $200k and only managed to save 20k/yr, over 20 years that would be 400k without a dime of returns. With a modest 5% return they'd have 2.4mm. At 7% they'd have almost 4mm.

they had to pay someone and someone lost a lot before the current guy. so there was two quarters they lost, one a lot, the other 2.5% not sure if they counts inflation.

2. Never have had any negative returns. *NEVER*. NEVER? NEVER! NEVER!?! Yeah, sure, through the .bombs, through the mortgage crisis, through the sovereign debt crisis, they have *NEVER* had a quarter of negative returns. This broker is not warren buffett on crack.

they have had one negative return on paper from the current guy. i guess the guy who writes the report doesnt count inflation.

4. Despite making $200k, they only have a 300k mortgage. Somebody making $200k can *easily* pay a $600k mortgage and sock money away for college, and pay loans, and afford two nice cars. Yet they've only been able to save 10% of their salary and only make 2.1% returns over 20 years. But keep in mind, they are *only* invested in stocks and have *never* had a negative quarter.

10% saved sounds right and 2.1% returns each year sounds right; for the past several years they havent made anything because theyve had "low risk" investments. and the mortgage is 500 or so thousand, only part of it has been paid off so it's about 300k left to pay... the mortgage rate was 9% from '90-93 or something like that, then 6.5% and they just recently got it down to ~3.3% my parents had to take some out in y2k. then taxes.

also, the salary average was 200k over the past twenty years, but he only gets to take home about 3/4 of that because of office expenses. we consume a lot also, my mom always buys the best and wastes a lot of money by paying bills through the mail, by having a land line we dont need, etc., etc.

 

[Soundmanred]

There's going to be a dollar collapse?
Thanks Obama!

 

[s0me0nesmind1]

Most of what the OP posted was kinda wacko but I do agree that only having $1.2M saved after 20 years of $200K income is really low. Especially after the claims of only having one losing quarter in 20 years.

How old are they? By all means, assuming they aren't trying to retire right now that isn't TOO bad. Remember, the average 401k is somewhere around the ballpark of $50k.

$1.2M is something you can retire on, albeit a retirement of not doing much. Most people's problem is they don't understand the concept of contributing more than their employer's matching contribution.

 

[Anarchist420]

How old are they? By all means, assuming they aren't trying to retire right now that isn't TOO bad. Remember, the average 401k is somewhere around the ballpark of $50k. $1.2M is something you can retire on, albeit a retirement of not doing much. Most people's problem is they don't understand the concept of contributing more than their employer's matching contribution.

they are trying to retire now so i guess that means i need to die soon if i dont want my quality of life to significantly go down.

i guess a lot of the problem was taxation and inflation. A-holes in congress cant allow all housing and medical expenses to be deductible, had to have the alternative minimum tax, had to have high marginal rates, and of course virginia has always had pretty hefty taxes all things considered.

in other words, i hate fiat money and i hate the State... it stole from and tricked the f**k out of my parents while raping others, shooting others, jailing others, bombing people overseas, and regulating the hell out of everyone.

anyway, i may actually be about to get a job (either at sherwin williams or goodwill), and i may actually just not report my income (if im even required to)... they can just throw me in jail because im not going to give them what they want. same thing would go if there was the "FairTax" and i ran a store, i wouldnt steal from other people to give to the State.

 

[OverVolt]

Alright nevermind, trolling detected.

 

[OverVolt]

they are trying to retire now so i guess that means i need to die soon if i dont want my quality of life to significantly go down.

i guess a lot of the problem was taxation and inflation. A-holes in congress cant allow all housing and medical expenses to be deductible, had to have the alternative minimum tax, had to have high marginal rates, and of course virginia has always had pretty hefty taxes all things considered.

in other words, i hate fiat money and i hate the State... it stole from and tricked the f**k out of my parents while raping others, shooting others, jailing others, bombing people overseas, and regulating the hell out of everyone.

anyway, i may actually be about to get a job (either at sherwin williams or goodwill), and i may actually just not report my income (if im even required to)... they can just throw me in jail because im not going to give them what they want. same thing would go if there was the "FairTax" and i ran a store, i wouldnt steal from other people to give to the State.

They report your W2 for you.

 

[Hugo Drax]

The best investment would be to cut you off and force you to become a gainfully employed member of society.

 

[EagleKeeper]

they are trying to retire now so i guess that means i need to die soon if i dont want my quality of life to significantly go down.
instead of being dependant on your parents, make something of yourself. Do not leech of your parents

i guess a lot of the problem was taxation and inflation. A-holes in congress cant allow all housing and medical expenses to be deductible, had to have the alternative minimum tax, had to have high marginal rates, and of course virginia has always had pretty hefty taxes all things considered.
Ask your patents if they take advantage of the housing and medical expense deductions. Doing so benefits you. Ironic that you rail against something that you are getting that benefits you

in other words, i hate fiat money and i hate the State... it stole from and tricked the f**k out of my parents while raping others, shooting others, jailing others, bombing people overseas, and regulating the hell out of everyone.
Explain how the State stole and tricked your parents.
anyway, i may actually be about to get a job (either at sherwin williams or goodwill), and i may actually just not report my income (if im even required to)... they can just throw me in jail because im not going to give them what they want. same thing would go if there was the "FairTax" and i ran a store, i wouldnt steal from other people to give to the State.The state will not through a little fish like you in jail. They will penalize you for not paying taxes owed and maybe confiscate some of your electronic toys.

See bold

 

[Anarchist420]

instead of being dependant on your parents, make something of yourself. Do not leech of your parents

im about to.

Ask your patents if they take advantage of the housing and medical expense deductions. Doing so benefits you. Ironic that you rail against something that you are getting that benefits you

housing expenses are not deductible except for mortgage the latter of which they deduct. medical expenses arent 7.5% of their adj gross income, so they cant be deducted.

Explain how the State stole and tricked your parents.

taxed them and distorted the market with inflation so that they made lousy investments.
thank you