How is your financial health?

[Spec]

Originally posted by C0ckney
i haven't got a pot to piss in or a window to throw it out of.

But you have a PC and internet connection...

Hmmm, check your priorities.



Spec.

[Arrian]

Originally posted by Flubber


What is the goal of "medium range investment" for you ??-- I pretty much know my income will continue to go up so we can buy things like a vacation property or a new car when we need etc etc-- So all my investments, are considered "long term" by me

In other words, we have 401(k)s and IRAs, and we have an ING savings account (nice interest), but we don't have anything else to speak of. A little bit of company stock from options, no more.

The 401/IRAs are retirement savings - long term. I'm thinking of buying some stocks as investments over the next 10-20 years, which is what I meant by medium-term. Retirement is still (most likely) ~30 years away (I'm turning 30 this year).

-Arrian

[Blaupanzer]

Doing okay now. Wasn't always that way, leading to disaster. 14 years past that now, good savings, good cars, good equity in the house, 401K, IRA, etc.

[Dauphin]

I recently won £88 million on the Euro lottery. I lost the ticket though.

[LordShiva]

Very healthy

This poll is valid

[Lorizael]

I have $197.28 in my checking account and $84.20 on my Smartcard. I pay my part of the cell phone and car insurance bills and all of my college tuition. I live for free with my parents but will begin paying rent at the beginning of 2007.

I recently signed a bunch of papers that mentioned health insurance, 401ks, and all that other investment sounding stuff when I got my new government contracting job.

The next time my car needs a pricey repair, I'm setting it on fire and driving it off the I-370 bridge behind my house.

[Spiffor]

Originally posted by Spec
Why do you get an allowance? What do you do?

I live in an upper-middle class French family.

Over here, it's normal for middle-class parents to support their children until the end of their studies. Most middle-class families sacrifice much so that their children aren't in need until they're ready to work.

Most of my student friends, even from the lower middle-class are fully supported by their families. Student loans barely exist here.

Back when I worked on the construction site, several of my young colleagues still lived at home, and had to pay for nothing either, despite being from lower class families.

I think it is more common in Europe than in the US to remain finacially supported by one's family for a long time.

[Flubber]

Originally posted by Arrian


In other words, we have 401(k)s and IRAs, and we have an ING savings account (nice interest), but we don't have anything else to speak of. A little bit of company stock from options, no more.

The 401/IRAs are retirement savings - long term. I'm thinking of buying some stocks as investments over the next 10-20 years, which is what I meant by medium-term. Retirement is still (most likely) ~30 years away (I'm turning 30 this year).

-Arrian

OK makes sense if you think of anything you invest outside the retirement funds to "medium term". In my case, my retirement funds and my children's education funds are fully utilized so I am starting to invest outside those structures. But even though its fully accessible, I still think of those things as long term

OH and an ING savings account-- How nice is the interest since whenever I have looked I figured I could do better long term in stocks-- and unused lines of credit or credit cards could see you through an emergency-- Our savings/chequing account never has any balance beyond the minimum to avoid bank fees

[Flubber]

Originally posted by Spiffor


I think it is more common in Europe than in the US to remain finacially supported by one's family for a long time.

Here it seems common to invest early for your childrens college. IN fact, the government will add $400 if you invest 2000 each year in an education fund and the fund grows tax free At current projections this fund should pay for a good chunk of one degree (depending on whether they are schooled here or abroad)

MY children will be welcome to live at home for as long as they continue their studies

[Arrian]

IIRC, the interest is close to 5% (4.75%, maybe a touch higher... I get emails occasionally telling me it's gone up by some tiny increment, so I lose track). So yeah, you should be able to beat that long-term with stocks. Since I'm a) not looking longterm/medium term until we get the new house and b) really unsure about my ability to pick stocks, I'm happy as hell to have the ING account.

-Arrian

[Nubclear]

Tight.

[Pekka]

Very broke.

Then again, students always are. I think the most amount of money I've ever had on one sitting in my bank account is 3k, but that was a long time ago. Few years back or so.

[Spec]

Originally posted by Comrade Tassadar
Tight.

Commies always are...unless your the leader.

Spec.

[Flubber]

Originally posted by Arrian
IIRC, the interest is close to 5% (4.75%, maybe a touch higher... I get emails occasionally telling me it's gone up by some tiny increment, so I lose track). So yeah, you should be able to beat that long-term with stocks. Since I'm a) not looking longterm/medium term until we get the new house and b) really unsure about my ability to pick stocks, I'm happy as hell to have the ING account.

-Arrian

5 % is pretty good these days -- The only time I invested in stuff like that was similar to you when we had our down payment in 90 day tbills while we were looking to buy a house. I would never go stocks with money I need inside a year its too uncertain.

BUt then again I buy stocks for the long term. It doesn't bother me much at all if a stock I picked goes down for a while as long as the fundamentals that brought on the purchase are still souind

[Nubclear]

But I am teh leader Imagine what my followers go through.