So i was talking with a co-worker who works in a different department, he was telling me how you can open up a swiss bank account with 100,000. Is it true that it also has a 10% interest rate?
Yea if your not a citizen of Switzerland your going to need at least 100k for their most basic account. As for 10%? really I thought they were 5% that USD of course. Different rates for different currency.
awesome. i guess that makes sense - if you buy 80% of all Japanese currency in circulation hoping to invest that in American bank accounts, either (1) interest rates change or (2) scarcity of yen strengthens the yen, wiping out your gains (if interest rates were pegged). the trick would be to trade large, but not too large.
wow theres some alot of good shit hereā¦ alright, i need opinions i have $1,500 to invest, i dont have a job or anything but i have money in the bank and i have that $1500 to work with, now my question is, whats the best way to go with that $1500? whats the best way to go in order to get the most out of that money while having the least amount of loss/risk?
simple use that money toā¦
GET A JOB
1500 isnāt enough to do any actual investing. The most you could do stick it in a mutual fund with a good broker, and even then, thereās no guarantee your return would be enough to pay for the brokerās time. Best bet would be to stick it in a bank.
Get a job and get more money before considering investing.
damn i seeā¦ drug game it is:sweat:ā¦sike
Dont be a noob with your $1500. If you need it sometime down the road put it in a high yield CD or online savings. If you donāt need it for a really long time open a roth IRA with someone like fidelity. If you need more info about the roth IRA or IRAs in general Iād say talk to one of their reps. The fidelity office is local to me and theyāre always willing to answer all my stupid questions. Hope this helps.
So if you were going to open a foreign bank account for organized crime related issues, why should it be Swiss? Is it just the high interest rate?
mmā¦ iām wondering that too, but hereās a general idea:
Thanks, ima look into that IRA mug
Just dropping a post in here so I can subscribe to a really good thread.
I just bought one share of stock in Yahoo.
Yeah, ONE. Iāll be piecemealing together a stock portfolio bit by bit, paycheck at a time. Itās not about making money for me, so much as starting good habits with my finances.
Any recommendations for stocks?
lol donāt let transaction costs eat into your returns
I would say oil but that is a gimme. It is really up to you. Sit down with an advisor and tell him what you are trying to do. Try to get information and understand the stock terms. Either way youāll be making money and using it wisely. Dammit i need my own set of stocks. Im a general partner of an investment group but for odd reason they want bebe The women work there are attractive but that its IMO.
Airthrow, I would agree with terracotta about transaction costs. I would never recommend buying shares in numbers less than say 10ā¦ Letās look at an example of this. So I buy a stock thatās for convenience $12/share and buying and selling this stock costs $12. Most brokerages hit you with transaction costs on both ends plus inactivity cost for not trading(READ THE FINE PRINT OF YOUR AGREEMENT!!!). So Iāve bought my one share for $12 plus another $12 in transaction costsā¦so Iām already $12 in the hole, which means my stock must increase 100% to make up this āsunk cost.ā Ok so my stock increases to $24(Yay), but wait in order to sell I must pay another $12 transaction fee and I end up with no gainsā¦
Basically, you would have to be expecting your stock to increase by at least 200% before you could sell itā¦BAD BAD BAD!
The best place to invest stock-wise right now is Australian mining. Mark my words. Bolisni Gold and St. Barbara Gold is going to go up a minimum of .32 ROI within two years.
And yes, you should never just buy ONE share of something. The risk is no worse and the reward is significantly lower.
As for āwhy the Swiss Bank Account?ā itās quite simple. They donāt ask questions. Rich guy with a marriage on the rocks? Open a Swiss bank account. Just give them some money, they wonāt tell her and they wonāt ask her permission. Same goes for the mafia. In fact, most of Al Qaedaās money was in Switzerland. Swiss banks just donāt ask questions. Thatās what makes them so popular.
It costs me $4 to make stock buying/selling transactions through INGās program.
Airthrowā¦My example still stands and with Yahoo, which was $29.87 at todayās closing would mean you still need it to go up around 27% before you break even. Do you see what Iām getting at here?
That would mean Yahoo would need to reach $37.64 a share or 11% above its 52-week high. I guess you are praying that Yahoo accept a higher offer from microsoft?
Iām just saying itās not a good strategy to start building like this and sorry if I sound too much like a negative nancy on thisā¦
im actually in the process of starting that sharebuilder program. ING is awesome by the way.
I wanted to add that white ninja, ace terracotta, & lamewadd are going great things in the thread. Shit some of these brats need our help to make that serious paper lol