Hypothetical money question

[woowoo2]

Bitcoin is not risky.

( Points and laughs)

https://www.theguardian.com/technol...e-cryptocurrency-hacked-south-korea-coincheck

Coinrail later said in a statement on its website that its system was hit by “cyber intrusion” on Sunday, causing a loss for about 30% of the coins traded on the exchange. It did not quantify the value, but the local Yonhap news agency estimated that about 40bn won (£27.8m) worth of virtual coins was stolen.

 

[nra4ever]

I understand bitcoin. All investments contain some risk. Saying anything otherwise is naive.

very true.

 

[BehindBlueI's]

Bitcoin is not risky.

Right. Just ask Mt. Gox. Oh...right.

 

[Hohn]

I always look to turn that table a bit to see things differently.

If there was a sure-fire investment that could make more than 3%, why wouldn't the firm offering you this money do THAT instead? It seems that it is *precisely* that lack of "sure thing" returns @ 3% that cause them to charge you the 3% fee and make loaning you money the "sure thing" they otherwise couldn't find.


It reminds me of the pitch used by whole-life life insurance types like my BIL who always bad mouth the stock market and it's volatility. What's my life insurance policy backed by? The insurance company's rating. What determines their rating? The investments they are in and cash on balance sheet. And what are they invested in? Bonds and-- surprise!-- the stock market.

In other words, you could cut out the middle man and have the same amount of investment risk, only without lining their pockets. Such a scam.

ETA: there is a scenario where it might make sense to take the 3% money, but that's only if you have a mountain of debt at super high interest rates, and it sounds like you don't otherwise you wouldn't be looking for a 4% investment, you'd be taking the sure-thing ROI of paying off the high interest debts.

 

[JettaKnight]

Bitcoin is not risky. Most people don’t understand what bitcoin is. Once you realize what it is it may be too late to make a killing. People please buy that bitcoin or don’t and live with regret later.

Why does this sound like a pink sheet stock hype of the 80's?

 

[phylodog]

The checks were torn up and thrown into the trash. We put an offer in on a house this afternoon, might have been nice to have a little extra cash on hand should the offer be accepted but oh well.

Thanks again for the advice.

 

[BehindBlueI's]

I always look to turn that table a bit to see things differently.

If there was a sure-fire investment that could make more than 3%, why wouldn't the firm offering you this money do THAT instead? It seems that it is *precisely* that lack of "sure thing" returns @ 3% that cause them to charge you the 3% fee and make loaning you money the "sure thing" they otherwise couldn't find.

In fairness, the lender will make significantly more than 3% over all, as few borrowers will actually pay it off in the 18 months and will then be paying interest. A lot of these "deals" back date the interest to the beginning of the loan if it's not paid off in the 0% time limit.

However your main point stands. My auto loan is 2.5% through my credit union.

 

[femurphy77]

The checks were torn up and thrown into the trash. We put an offer in on a house this afternoon, might have been nice to have a little extra cash on hand should the offer be accepted but oh well.

Thanks again for the advice.

The housing market is insane around here right now, it's definitely a sellers market! Two people I know both sold their homes within days of listing them for more than the asking price. The GF is always nosing around the realty ads and most of the houses that have sold around my area were sold before the signs ever went up. Good luck on your purchase.

 

[GodFearinGunTotin]

The housing market is insane around here right now, it's definitely a sellers market! Two people I know both sold their homes within days of listing them for more than the asking price. The GF is always nosing around the realty ads and most of the houses that have sold around my area were sold before the signs ever went up. Good luck on your purchase.

Yeah, what's going on up there? A friend of mine's daughter (and her family) just sold their home up there like 2 days after they listed it too, at or maybe above asking price. I'm not sure exactly where they live but my friend has commented it's not in the best neighborhood either.

 

[phylodog]

The housing market is insane around here right now, it's definitely a sellers market! Two people I know both sold their homes within days of listing them for more than the asking price. The GF is always nosing around the realty ads and most of the houses that have sold around my area were sold before the signs ever went up. Good luck on your purchase.

Received a counter offer and accepted it today. Had to pay asking price but like you mentioned, the current market doesn't provide many bargains. This is the biggest financial risk I've ever taken in my life (long story) but it'll be nice to be able to shoot on my own property, my daughter can have a horse and my wife will be a different person (she's not cut out for the city life) so it'll be worth it.

 

[femurphy77]

Received a counter offer and accepted it today. Had to pay asking price but like you mentioned, the current market doesn't provide many bargains. This is the biggest financial risk I've ever taken in my life (long story) but it'll be nice to be able to shoot on my own property, my daughter can have a horse and my wife will be a different person (she's not cut out for the city life) so it'll be worth it.

EXCELLENT!! Glad to hear you're able to put a little distance between you and the neighbors!

 

[femurphy77]

Yeah, what's going on up there? A friend of mine's daughter (and her family) just sold their home up there like 2 days after they listed it too, at or maybe above asking price. I'm not sure exactly where they live but my friend has commented it's not in the best neighborhood either.

don't know what the story is, we've been considering a move to the central florida area and have been watching the market down there. It's the exact opposite of what's going on around here. Just a for instance in the Tampa are close to 400 homes were added to the "for sale" roles last month and only 72 sold. Down there houses are for sale for months, up here they're on the market for hours.

 

[CHCRandy]

I hate to be the one.....but there are very safe ways to make 10%+ on your money every year without even trying. You buy dividend paying stocks and then purchase put options out of the money for .05-.10 each, as insurance. $15,000 in NRZ, MFA, CIM or NLY or many others will pay you $2250+ per year minus $100 insurance....and the stock could still appreciate in value.

 

[KJQ6945]

Received a counter offer and accepted it today. Had to pay asking price but like you mentioned, the current market doesn't provide many bargains. This is the biggest financial risk I've ever taken in my life (long story) but it'll be nice to be able to shoot on my own property, my daughter can have a horse and my wife will be a different person (she's not cut out for the city life) so it'll be worth it.

Congratulations Phylo! That's great news. So, how much property, and which side of town?

 

[CHCRandy]

Received a counter offer and accepted it today. Had to pay asking price but like you mentioned, the current market doesn't provide many bargains. This is the biggest financial risk I've ever taken in my life (long story) but it'll be nice to be able to shoot on my own property, my daughter can have a horse and my wife will be a different person (she's not cut out for the city life) so it'll be worth it.

That will probably be the best investment you ever made. Can't make more land. Congrats and enjoy the new place!

 

[phylodog]

A little over 10 acres northeast of Indy. Decided to finally take advantage of my VA loan so hopefully the appraisal comes back like I need it to. As long as that happens it should be a done deal.

 

[lovemachine]

A little over 10 acres northeast of Indy. Decided to finally take advantage of my VA loan so hopefully the appraisal comes back like I need it to. As long as that happens it should be a done deal.

That’s awesome.

We live in a 2 bedroom ranch brick house on .5 acre. 1,015 square foot house, and my attached garage is 750 square feet. Which is very awesome

But now we have 2 boys. The house is a little tight now. I’d like to find a larger house. 3 bedrooms, 2 bath, at least an acre of land. For less than $800 a month.

So if anyone knows of such a place, let me know!

 

[KJQ6945]

A little over 10 acres northeast of Indy. Decided to finally take advantage of my VA loan so hopefully the appraisal comes back like I need it to. As long as that happens it should be a done deal.

That's great news, I hope it all goes smoothly, then you can start shopping for a tractor. Get a Kubota.

 

[phylodog]

That's great news, I hope it all goes smoothly, then you can start shopping for a tractor. Get a Kubota.

Already started the research lol. A friend of ours who lives near our lease brought his Kubota over today and tilled up our food plots for us. I'm hoping that once I've sold my current house I can use the equity to buy a tractor, it'll see a lot of use.

 

[WebSnyper]

A little over 10 acres northeast of Indy. Decided to finally take advantage of my VA loan so hopefully the appraisal comes back like I need it to. As long as that happens it should be a done deal.

Exciting times. I hope it all goes as planned.