Money and Finance

[topher]

A Hedge Fund in where qualified investors (read wealthy) can invest their money in a fund that can make high risk trades and strategies.

The Barrings guys was not a hedge fund. He was a trader for the bank .

Charge card= you have to pay off each month.



Sunnyhorse, have you invested in a Roth IRA? You can put $4000 a year in and it grows tax free. What you earn is what you keep. In a 401k or traditional IRA you have to pay taxes on withdrawl.

Just want to say that I, personally, hate all investment advisors and brokers. FYI, I have licenses to do both. There are lots a ways to invest w/o giving up 2-8%.

[sleepy]

Charge card= you have to pay off each month.

So there's no interest? Just an annual fee or something?

What happens if you don't pay it off by the end of the billing period? Enormous fees? The abduction of children? The busting of kneecaps?

[Ripley]

$4000 for a Roth IRA? Didn't it used to be $3000?

[Oxynia]

sleepy said:

Charge card= you have to pay off each month.

So there's no interest? Just an annual fee or something?

No interest but yes to an annual fee. That's why we like Amex, it has to be paid in full and you don't have fat interest rates piling up.

What happens if you don't pay it off by the end of the billing period? Enormous fees? The abduction of children? The busting of kneecaps?

You get a late fee and if you make a habit of it, they take away your card. And your spleen.

[Deleted]

Student loan consolidation. Does anyone have advice on how to deal with this? I'm still in school but will finish next year with a debt load in the neighborhood of $50K. I think I should start with my Financial Aid office and see what they say but I would appreciate some been there/done that advice.

I used to work in a financial aid office, and if your university's was like ours, they won't give any advice on loan consolidation. The standard reply was that you have to investigate yourself, because we did not want to be libel nor did we want to be see giving preference to any particular company.

I know two years ago, when I still worked there, they had just bumped up the interest rates so a lot of people consolidated then to lock in. I didn't, however, because you can only consolidate once and I knew I was going to be taking out more loans. So I'm waiting until I'm finished with school and am just going to hunt around a bit for the best rates. Certainly the three student loan consolidation companies that telemarket-call me every afternoon are anxious to offer their advice.

[topher]

ripley said:

$4000 for a Roth IRA? Didn't it used to be $3000?

Got bumped up in 05

[sleepy]

Oooh, I must get an AmEx card, then. That would certainly keep me accountable, and it makes more sense financially. Thanks for the info.

[topher]

Sleepy, if you use Costco get their Amex card. The annual fee is the membership fee of Costco, IIRC.

[Sunnyhorse]

topher said:

A Hedge Fund in where qualified investors (read wealthy) can invest their money in a fund that can make high risk trades and strategies.

The Barrings guys was not a hedge fund. He was a trader for the bank .

Charge card= you have to pay off each month.



Sunnyhorse, have you invested in a Roth IRA? You can put $4000 a year in and it grows tax free. What you earn is what you keep. In a 401k or traditional IRA you have to pay taxes on withdrawl.

Just want to say that I, personally, hate all investment advisors and brokers. FYI, I have licenses to do both. There are lots a ways to invest w/o giving up 2-8%.

Yup, Topher, I've got a Roth and a rollover IRA. I put the maximum contribution into the Roth each year. Mr. Sunnyhorse and I are the kind of people who will let cash sit in the bank because it makes us feel secure, but if there are additional ways for our money to be working for us before retirement, we're all ears.

[topher]

I also like the I bonds the government sells. The interest rate in based on a base rate + the CPI. So in period of inflation you get a better return. They can also be used tax free for tax education.

link

There are also lots of companies that let you buy stock from them w/o a broker.

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