[3x331m]

Quote:

Originally Posted by ls20 /img/forum/go_quote.gif All of them, it should be. The rules are set by NASD and NYSE. The latest amendments were made in 2001, but im unsure when the original criteria were laid.

I guess the aftermath of the crash triggered this Admendment.... No more fun.

Thanks for your info.

 

[Jahn]

Quote:

Originally Posted by will75 /img/forum/go_quote.gif That's a loaded question. To give a general answer though: In most parts of the USA now is a great time to buy a house. Selling a house blows right now though. Perfect situation for first time buyers. Only downside are the rates. Although they are better than average over the years, just not as good as they were over the last several years. But, typically the market does well then rates don't do well. Invest in the market and it all balances!

i just went through this myself. obviously i guess my answer was "yes" since i did it lol. for me, rent goes down the drain, byebye. if i think my property is going to appreciate somewhat, and my payments are offset by tax breaks somewhat, and i was going to use the cash that i "lose" (no tax breaks on it) in maintenance for rent anyhow, and you add it all up and you're in the black, why not take the plunge. in the meantime you're living in a nicer place than you were renting (hopefully!) and it's always fun to say you're a homeowner for what it's worth.

entry fee to get in the game was almost a dealkiller tho. cash down plus closing fees, ARGH.

 

[j24]

Here is what I would do (I actually uses this site for small investments on the side to play around with more volatile stocks).
Go to sharebuilder.com and open up an account. All sort of accounts are available even IRA.
The initial investment is minimal if I recall. Maybe $25. Set up your account for drip.
Select whatever you want to invest: stocks, mutual funds, etc. The list is huge.
You can invest at specific time and it is $4 for the transaction. It is not real time although you can do this also.
Site is great for small investment with low transaction fee and no account fee maintenance. Check it out.

 

[loveheadphones]

Ill just echo what's been said already. There are programs for investing in index funds with small amounts of money. Get involved with one (as ls20 said, transamerica has a good program) and make a commitment to invest a certain amount each month.
If your workplace has a direct deposit program, you may be able to have that money deducted from your paycheck and go directly into your account. This is good because what you don't see in your checking account you are less likely to spend..
Also, make sure that you are signed up for your workplace's 401(k) program. If your employer matches contributions, be sure to contribute enough so you get the full match. It's tough to beat free money.
As for real estate, it doesn't sound like you're in the position to start on that.. (but what do I know). Maybe once you've got a good amount in index funds you can consider that. Real estate is not the end all and be all of investments.. you can get burned. You might want to consider your risk tolerance.
Good luck!

 

[Rock&Roll Ninja]

Quote:

Originally Posted by loveheadphones /img/forum/go_quote.gif As for real estate, it doesn't sound like you're in the position to start on that.. (but what do I know). Maybe once you've got a good amount in index funds you can consider that. Real estate is not the end all and be all of investments.. you can get burned. You might want to consider your risk tolerance. Good luck!

Well I never had an intrest in real estate. i certainly don't have the cash even if i wanted to get involved (my current area now finally got hit with the crunch). Aside from owning 1 home, I don't think I'll make any property "investments".

 

[nfusion770]

This sums it all up pretty well.

You could also read this if you were so inclined.

 

[uzziah]

nm

 

[uzziah]

Quote:

Originally Posted by Elec /img/forum/go_quote.gif What about those of us who live in expensive areas? I'm 26 and have a pretty good job, but I'm renting because a nice townhome in a decent area or small single family home in a so-so area is 300k+. At this point I could probably afford to buy a condo, but I dunno if that's a better move than just saving up and waiting till I've got more money to put down and a higher salary to afford an actual house.

well one way or another: renting does NOTHING for you, it's better than buying a house at an overinflated price, selling later and losing money, but if you're careful it's hard for buying to be a bad decision; heck the tax benefits alone are substantial

btw: i'm 25, just divorced

going back to school (couple more years of undergrad in boulder, CU) looking to get into medicine or neurobiology or some such, have practically no money, will be working parttime and getting some help from parents just to make ends meet, having practically nothing left over; anyway i'll be keeping tabs on this thread, it's the 20-something poor-ass building-capital thread

 

[uzziah]

Quote:

Originally Posted by will75 /img/forum/go_quote.gif Let's say 7% interest. Put $5000 away a year and let the interest compound. You will have over a $1,000,000 after 40 years. Now, a million won't be as impressive in 40 years but it's still great. If you can do without that money now, it will more than pay off in the end. Put that same amount in a checking account and you only have $200,000 after 40 years.

more i always better; ideally, you should eat rice and water for those 40 years, live in a box and put everying into investment

but it's all about what it's worth to you; it's not popular; but to some extent i take the "you could die tomorrow" mindset..................only to some extent....but i value the things i can get now as much or more as i do what i can when i retire!

 

[uzziah]

Quote:

Originally Posted by will75 /img/forum/go_quote.gif In most parts of the USA now is a great time to buy a house

yup; i need to seriously consider this

here's a question: take a look at the market around boulder, CO; i'm looking at small condo's under 200k, and there are quite a few in suburban areas around boulder; now, i'll only be there for three years or less for my degree, then moving to a new state most likely for master's/phd or MD school; is it worth it for me to consider buying a house if i can swing it? i'd think not since the area is appreciating very slowly, and the costs of buying and selling in such a short time would be harsh

thoughts?

 

[ls20]

Quote:

Originally Posted by uzziah /img/forum/go_quote.gif yup; i need to seriously consider this here's a question: take a look at the market around boulder, CO; i'm looking at small condo's under 200k, and there are quite a few in suburban areas around boulder; now, i'll only be there for three years or less for my degree, then moving to a new state most likely for master's/phd or MD school; is it worth it for me to consider buying a house if i can swing it? i'd think not since the area is appreciating very slowly, and the costs of buying and selling in such a short time would be harsh thoughts?

i wouldnt do it.

figure the maintenance fees, property taxes, closing costs, and other sunk costs, and you wouldnt break even unless you had put in a few more years. not to mention the large upfront lumpsum you'd need to get into ownership... (and escrow, etc...)

 

[iGig]

Quote:

Originally Posted by uzziah /img/forum/go_quote.gif yup; i need to seriously consider this here's a question: take a look at the market around boulder, CO; i'm looking at small condo's under 200k, and there are quite a few in suburban areas around boulder; now, i'll only be there for three years or less for my degree, then moving to a new state most likely for master's/phd or MD school; is it worth it for me to consider buying a house if i can swing it? i'd think not since the area is appreciating very slowly, and the costs of buying and selling in such a short time would be harsh thoughts?

I'm not a big fan of condos because of the association fees and many restrictions, but for many people, condos are a good place to start building equity. I would find a small fixer upper (read cheap) house. If you haven't made enough profit by the time you graduate you can rent it out thru a rental agency. Owning near colleges and hospitals guarantees that you'll find tenants.
It sounds scary and difficult but it's not. I did it many years ago when I didn't even speak english, haha. It's just a matter of deciding who you want to work for, yourself or your landlord.

 

[450]

Not to totally hijack the the thread but I convinced my mom to put 7k in a 40 year C.O.D. for me. Hopefully it will pay off.

 

[3x331m]

Quote:

Originally Posted by 450 /img/forum/go_quote.gif Not to totally hijack the the thread but I convinced my mom to put 7k in a 40 year C.O.D. for me. Hopefully it will pay off.

I really want to learn from you in this area. Would you please share your reasons or analysis behind this decision ? Why 40 year of COD ?

 

[Shizelbs]

Quote:

Originally Posted by 450 /img/forum/go_quote.gif Not to totally hijack the the thread but I convinced my mom to put 7k in a 40 year C.O.D. for me. Hopefully it will pay off.

Do you mean CD? COD is cash on delivery. 40 years is an awfully long term for a CD. I don't know too much, but with the current rates, that was probably not the best idea. What is the penalty for early withdrawal?