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Thread: Money and Debt

  1. #11
    Artisan Conquerer Halla74's Avatar
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    Quote Originally Posted by Seymour View Post
    How about going from going to be worth over two million dollars (on paper) to becoming a thousandaire? That was a bit of an adjustment!
    ZOMG!!!! Dude, how did you refrain from going to your stock broker's office and mopping the floor with his pompadour?

    Quote Originally Posted by Seymour View Post
    Only good thing I got out of my dot com stock options was putting a friend through cooking school. He's a gainfully employed chef now, so I can't complain about the ROI.
    You're a really cool dude, Seymour. Has anyone ever told you that? I hope your friend has cooked you up some bad ass 5 star chef meals. Props to you and your generousity, it is the stuff that keeps the universe from defaulting into oblivion.

    Quote Originally Posted by Seymour View Post
    Definitely agree with realizing at least SOME of your gains as you go
    Exactly. Capital gains tax is a blessing compared to losing half of your principal due to overall market corruption and securities control frauds.
    --------------------
    Type Stats:
    MBTI -> (E) 77.14% | (i) 22.86% ; (S) 60% | (n) 40% ; (T) 72.22% | (f) 27.78% ; (P) 51.43% | (j) 48.57%
    BIG 5 -> Extroversion 77% ; Accommodation 60% ; Orderliness 62% ; Emotional Stability 64% ; Open Mindedness 74%

    Quotes:
    "If somebody asks your MBTI type on a first date, run". -Donna Cecilia
    "Enneagram is psychological underpinnings. Cognitive Functions are mental reasoning and perceptional processes. -Sanjuro

  2. #12
    Vaguely Precise Seymour's Avatar
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    Quote Originally Posted by Halla74 View Post
    ZOMG!!!! Dude, how did you refrain from going to your stock broker's office and mopping the floor with his pompadour?
    I was hardly alone... there were lots of people in my company in the same boat. The (then) 20-somethings took it the hardest, since they were planning to retire by the time they were thirty. I mostly counted myself (momentarily) lucky.

    Quote Originally Posted by Halla74 View Post
    You're a really cool dude, Seymour. Has anyone ever told you that? I hope your friend has cooked you up some bad ass 5 star chef meals. Props to you and your generousity, it is the stuff that keeps the universe from defaulting into oblivion.
    I did get some good meals out of the deal, trust me! Plus, to be honest it was no sacrifice at all from my perspective. Without that impetus, I might have realized almost none of those (ephemeral) gains, so in some ways I'm thankful about the whole thing. It certainly wasn't like I was starving myself so someone else could benefit. Meanwhile, my chef friend enjoys his job now, is a home owner and has health benefits to boot (none of which was true before). So it was all good in the end.

    Quote Originally Posted by Halla74 View Post
    Exactly. Capital gains tax is a blessing compared to losing half of your principal due to overall market corruption and securities control frauds.
    Definitely. Even having gains counted as regular income (which we know is not ideal) is better than not realizing anything. Some of my coworkers got hit with serious AMT, which was no fun at all.

    My personal rule of thumb is to recognize 30% of your gains when possible (at least from company provided stock options). That leaves plenty for later, but means you get something no matter what.

  3. #13
    Artisan Conquerer Halla74's Avatar
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    Quote Originally Posted by Seymour View Post
    My personal rule of thumb is to recognize 30% of your gains when possible (at least from company provided stock options). That leaves plenty for later, but means you get something no matter what.
    This is rock solid advice. I'm going to drop it on my Neo-Con father-in-law who is also a financial analyst at our next dinner and ruffle his feathers.

    Thank you, Seymour.
    --------------------
    Type Stats:
    MBTI -> (E) 77.14% | (i) 22.86% ; (S) 60% | (n) 40% ; (T) 72.22% | (f) 27.78% ; (P) 51.43% | (j) 48.57%
    BIG 5 -> Extroversion 77% ; Accommodation 60% ; Orderliness 62% ; Emotional Stability 64% ; Open Mindedness 74%

    Quotes:
    "If somebody asks your MBTI type on a first date, run". -Donna Cecilia
    "Enneagram is psychological underpinnings. Cognitive Functions are mental reasoning and perceptional processes. -Sanjuro

  4. #14
    Administrator highlander's Avatar
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    Quote Originally Posted by Halla74 View Post
    Yes indeed, as many online financial tools and age old professional monetary wisdom compel us to do. BUT - what if your paper portfolio deflates 40% in three shakes of a lamb's tail because the corrupt shite-heads in charge decided to fleece the market as they did over the last few years? Then alot of all that compounding just went up in smoke, literally, as the shredding party at Countrywide evolved into a bonfire...

    Basically what I'm getting at is to make sure that you REALIZE YOUR GAINS ALONG THE WAY and re-invest in diversified instruments that are as secure and liquid as possible. I'll never have only paper based securities in my portfolio again. I had a SEP IRA in the nineties that got up to $40,000 and the dot com crash turned it into $25,000 in a few short months. I was PISSED.
    I agree on diversification. I lost 30k on just one stock during the dot.com fiasco. Putting it into typological terms - probably Ni with no Te, Ti or Se .
    Company stock plans are especially dangerous.

    Actually, I don't buy any individual stocks anymore. It's a bit like gambling and pretty much is a waste of time because the odds of you beating the market over time are so low. I stick with low cost mutual funds across different investment types. I do play with the mix a bit and take some risks there though.

    One thought on realizing gains - you really have to look at what an investment is selling at and whether it's worth it at that price. If its beyond what it's worth, you sell and buy something else that's a better value. I've made some bad mistakes with this. In one situation, I sold a stock that went up 400% way too soon because I was fearful of losing my profits. On the flip side, there was another stock that I purchased a year after the IPO (McAfee). I had invested so little initially, that I left it in there, earning 1000% on the initial investment before selling it. If I'd put more money into it, I would have been worried about losing the profits and would have taken it out sooner. The mistake there was not investing more money in the company because again, I was worried about the risk. Yet, I was foolish enough to invest a fortune on a company that went bankrupt years later as the stock continued to drop through the floor. I think you have to be completely objective with this stuff which is very hard to do.

    So many lost opportunities.... If only we could predict the future with more accuracy.

    Please provide feedback on my Nohari and Johari Window by clicking here: Nohari/Johari

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  5. #15
    Artisan Conquerer Halla74's Avatar
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    ^Bad ass advice, Bro! Thank you!!!
    --------------------
    Type Stats:
    MBTI -> (E) 77.14% | (i) 22.86% ; (S) 60% | (n) 40% ; (T) 72.22% | (f) 27.78% ; (P) 51.43% | (j) 48.57%
    BIG 5 -> Extroversion 77% ; Accommodation 60% ; Orderliness 62% ; Emotional Stability 64% ; Open Mindedness 74%

    Quotes:
    "If somebody asks your MBTI type on a first date, run". -Donna Cecilia
    "Enneagram is psychological underpinnings. Cognitive Functions are mental reasoning and perceptional processes. -Sanjuro

  6. #16
    Senior Member Lateralus's Avatar
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    What about Malachi 3:8-10?

    "Will a man rob God? Yet you rob me.
    "But you ask, 'How do we rob you?'
    "In tithes and offerings. You are under a curse—the whole nation of you—because you are robbing me. Bring the whole tithe into the storehouse, that there may be food in my house. Test me in this," says the LORD Almighty, "and see if I will not throw open the floodgates of heaven and pour out so much blessing that you will not have room enough for it."
    "We grow up thinking that beliefs are something to be proud of, but they're really nothing but opinions one refuses to reconsider. Beliefs are easy. The stronger your beliefs are, the less open you are to growth and wisdom, because "strength of belief" is only the intensity with which you resist questioning yourself. As soon as you are proud of a belief, as soon as you think it adds something to who you are, then you've made it a part of your ego."

  7. #17
    nevermore lane777's Avatar
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    Quote Originally Posted by Lateralus View Post
    What about Malachi 3:8-10?
    Tithing was part of the Mosaic Law, which followers are not required to follow since Christ's death, so the Malachi verse is not relevant today. This one is:

    2 Corinthians 9:1-13 Now about the offering that is [to be made] for the saints (God's people in Jerusalem), it is quite superfluous that I should write you; For I am well acquainted with your willingness (your readiness and your eagerness to promote it) and I have proudly told about you to the people of Macedonia, saying that Achaia (most of Greece) has been prepared since last year for this contribution; and [consequently] your enthusiasm has stimulated the majority of them. Still, I am sending the brethren [on to you], lest our pride in you should be made an empty boast in this particular case, and so that you may be all ready, as I told them you would be; Lest, if [any] Macedonians should come with me and find you unprepared [for this generosity], we, to say nothing of yourselves, be humiliated for our being so confident. That is why I thought it necessary to urge these brethren to go to you before I do and make arrangements in advance for this bountiful, promised gift of yours, so that it may be ready, not as an extortion [wrung out of you] but as a generous and willing gift. [Remember] this: he who sows sparingly and grudgingly will also reap sparingly and grudgingly, and he who sows generously [that blessings may come to someone] will also reap generously and with blessings. Let each one [give] as he has made up his own mind and purposed in his heart, not reluctantly or sorrowfully or under compulsion, for God loves (He takes pleasure in, prizes above other things, and is unwilling to abandon or to do without) a cheerful (joyous, "prompt to do it") giver [whose heart is in his giving]. And God is able to make all grace (every favor and earthly blessing) come to you in abundance, so that you may always and under all circumstances and whatever the need be self-sufficient [possessing enough to require no aid or support and furnished in abundance for every good work and charitable donation]. As it is written, He [the benevolent person] scatters abroad; He gives to the poor; His deeds of justice and goodness and kindness and benevolence will go on and endure forever! And [God] Who provides seed for the sower and bread for eating will also provide and multiply your [resources for] sowing and increase the fruits of your righteousness [which manifests itself in active goodness, kindness, and charity]. Thus you will be enriched in all things and in every way, so that you can be generous, and [your generosity as it is] administered by us will bring forth thanksgiving to God. For the service that the ministering of this fund renders does not only fully supply what is lacking to the saints (God's people), but it also overflows in many [cries of] thanksgiving to God. Because at [your] standing of the test of this ministry, they will glorify God for your loyalty and obedience to the Gospel of Christ which you confess, as well as for your generous-hearted liberality to them and to all [the other needy ones].

    I hope this clears up some confusion.
    To die would be an awfully big adventure - Peter Pan

    INFJ ~ 4w5 sp/sx ~ RLOAI ~ Inclusion e/w=1/0 (Melancholy Compulsive) Control: e/w=0/6 (Supine) Affection: e/w=4/0 (Phlegmatic Melancholy)

  8. #18
    LL P. Stewie Beorn's Avatar
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    Quote Originally Posted by Lateralus View Post
    What about Malachi 3:8-10?
    1) Everything in the Bible is relevant.
    2) Malachi 3:8-10 has been fulfilled. Despite Israel's perpetual rebelliousness God has already "throw[n] open the floodgates of heaven and pour[ed] out so much blessing that you will not have room enough for it" in that he gave Christ to the Church. There is no greater blessing and treasure than Christ himself.
    3) In light of this we read Corinthians as people that are already blessed and rich. People that cannot become destitute and thus can only gain from cheerfully and generously giving of what we have.
    Take the weakest thing in you
    And then beat the bastards with it
    And always hold on when you get love
    So you can let go when you give it

  9. #19
    nevermore lane777's Avatar
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    Quote Originally Posted by Beefeater View Post
    1) Everything in the Bible is relevant.
    Do you believe circumcision is still relevant?
    To die would be an awfully big adventure - Peter Pan

    INFJ ~ 4w5 sp/sx ~ RLOAI ~ Inclusion e/w=1/0 (Melancholy Compulsive) Control: e/w=0/6 (Supine) Affection: e/w=4/0 (Phlegmatic Melancholy)

  10. #20
    LL P. Stewie Beorn's Avatar
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    Quote Originally Posted by lane777 View Post
    Do you believe circumcision is still relevant?
    Paul seemed to think so. He spent a good amount of time writing about it.

    The New Testament is constantly making reference to the old testament. Without understanding the old testament you have no frame of reference. You're like a child that wonders into the middle of a movie and wants to know...
    Take the weakest thing in you
    And then beat the bastards with it
    And always hold on when you get love
    So you can let go when you give it

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