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Originally posted by pkcRAISTLIN are you not at uni anymore krypton?

I'm transferring.

So here's my current plan. I'm going to put off starting a business operation. But I will incorporate a shell company. I will be receiving $2000-3000 which I will put to good use paying my debts and restoring my liquidated investments. In the meantime, I will continue working on my business plan, which I have to say, is several pages long, with a lot of valuable plans inside. Valuable enough for me to lock them up in my safe as confidential documents scratched out on yellow legal pads. I'm tranferring from the $9000/yr University of Phoenix to the $3000/yr University of Texas. State school trumps private. Going in as a Finance Major, and I'm going to see how I can obtain some credentials such as a Series 6 or 7. Once I have credentials, I believe I'll have a strong foundation to enter the securities business, God willing.

I also have dreams of entering politics, but my personal past is ominously dark. When I think about it, my political opponents have plenty of ammunition to rip my personal record to shreds. I still have hope though. Bush II is an admitted drug user and alcoholic, and Clinton smoked weed, ad Obama did cocaine. I still have hope...

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Originally posted by jerZ07002 I'm guessing that very few people need surgery while on vacation and actually have surgery while at the holiday location.

That's why you have to play up the fear. "30% of the population in Botswana has HIV... if you get hurt on safari, do you know where your blood is coming from? Make sure your vacation is a safe vacation."

boom. someone's gonna be crazy enough to try it.

/racist business proposal

quote:

Originally posted by Krypton University of Texas

I thought you were moving to PA?

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Originally posted by Krypton I'm tranferring from the $9000/yr University of Phoenix to the $3000/yr University of Texas. State school trumps private.

private schools > public (generally speaking)

toilet paper > university of phoenix degree

sorry - i don't mean to be rude, but if a resume came across my desk with that school i would surely throw it away - that's a fact of the business world. It's not even worth going to that school because noone takes it seriously.

good move transferring to UT (it's a good school). you wouldn't get so much as a passing glance from anyone with university of phoenix on your resume - especially not in the financial world. As a matter of fact, leave that part of your history off of your resume, nothing good will come of letting others know of that fact.

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Originally posted by Lebezniatnikov That's why you have to play up the fear. "30% of the population in Botswana has HIV... if you get hurt on safari, do you know where your blood is coming from? Make sure your vacation is a safe vacation." boom. someone's gonna be crazy enough to try it. /racist business proposal

the only way that would work is if the blood was sold as insurance prior to its actual need. then you would need some sort of rapid deployment system. it all seems too expensive for too small potential market.

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Originally posted by Lebezniatnikov I thought you were moving to PA?

Nope, not anymore.

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Originally posted by jerZ07002 private schools > public (generally speaking) toilet paper > university of phoenix degree good move transferring to UT (it's a good school). you wouldn't get so much as a passing glance from anyone with university of phoenix on your resume - especially not in the financial world. As a matter of fact, leave that part of your history off of your resume, nothing good will come of letting others know of that fact.

That's what I thought. From my experienc, most of the people there, are older people, who realized they should have gone to college. They think it's hard. I barely tried, and I still got a B average. Rarely read the text books. No tests or quizes. Just 3-4 1000-2000 word papers and a couple powerpoint presentations per 5 week class. And so expensive. I'll probably get much harder coursework at a real university.

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Originally posted by Krypton Nope, not anymore. That's what I thought. From my experienc, most of the people there, are older people, who realized they should have gone to college. They think it's hard. I barely tried, and I still got a B average. Rarely read the text books. No tests or quizes. Just 3-4 1000-2000 word papers and a couple powerpoint presentations per 5 week class. And so expensive. I'll probably get much harder coursework at a real university.

here's some indirect business advice: take your education seriously. put all your effort into classes and try to get straight As. If you get good enough grades perhaps you can intern at an investment bank. At the bank you can make the connections that will provide you the capital, advice, and experience you need to start your own succesful connection. It's really important that you realize this isn't a race.

One more piece of advice...Don't buy back any of those investments if you have a big debt anywhere. Use that $3000 you're getting to knock out as much personal debt as possible...school loans, car loans, credit cards, etc. If you invest while still in debt, it's taking out a loan and using it to buy stocks. Never a good idea IMO.

Get a guaranteed positive return by paying down your highest interest debt.

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Originally posted by Capitalizt One more piece of advice...Don't buy back any of those investments if you have a big debt anywhere. Use that $3000 you're getting to knock out as much personal debt as possible...school loans, car loans, credit cards, etc. If you invest while still in debt, it's taking out a loan and using it to buy stocks. Never a good idea IMO. Get a guaranteed positive return by paying down your highest interest debt.

I'm paying my $800 credit balance, and that's it. Student loans are gonna have to wait.

What interest rate are you paying on the student loans?

If you use that money to buy stock, even if you don't lose money, don't forget that taxes are going to take a another 20% chunk from your return. You need to weigh what you realistically think you can make after taxes/commissions in stocks against the guaranteed 6%+ return you get for paying down debt. The dollar amount of those student loans may seem insurmountable now, but every penny you reduce them by has a huge impact over the long run. The power of compound interest works in reverse too.

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Originally posted by Capitalizt What interest rate are you paying on the student loans? If you use that money to buy stock, even if you don't lose money, don't forget that taxes are going to take a another 20% chunk from your return. You need to weigh what you realistically think you can make after taxes/commissions in stocks against the guaranteed 6%+ return you get for paying down debt. The dollar amount of those student loans may seem insurmountable now, but every penny you reduce them by has a huge impact over the long run. The power of compound interest works in reverse too.

What he said.

If your ROI isn't beating what you're paying in debt, then kill the debt first...

quote:

Originally posted by Capitalizt What interest rate are you paying on the student loans? If you use that money to buy stock, even if you don't lose money, don't forget that taxes are going to take a another 20% chunk from your return. You need to weigh what you realistically think you can make after taxes/commissions in stocks against the guaranteed 6%+ return you get for paying down debt. The dollar amount of those student loans may seem insurmountable now, but every penny you reduce them by has a huge impact over the long run. The power of compound interest works in reverse too.

My methodology is...always pay yourself first even if you have debt.

It will take me years to pay my student loans. I can't wait years and not take advantage of the time value of money. I'm waiting until I get my degree to start paying the student loans down.

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Originally posted by Krypton My methodology is...always pay yourself first even if you have debt. It will take me years to pay my student loans. I can't wait years and not take advantage of the time value of money. I'm waiting until I get my degree to start paying the student loans down.

Yes, true, pay yourself first!

It's a balancing game as to how much though and that will depend on your budgeting.

Student debt is a bitch and fortunately I haven't had to endure it.
Even if you can afford to put an extra $50-100 down on a payment you'd be surprised (or not) how many payments it kills at the end of the payment schedule.

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Originally posted by Krypton My methodology is...always pay yourself first even if you have debt. It will take me years to pay my student loans. I can't wait years and not take advantage of the time value of money. I'm waiting until I get my degree to start paying the student loans down.

the time value of money is simply the interest you can earn on your money. if the interest you earn is less than the interest you pay, you lose. simple as that.

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Originally posted by jerZ07002 the only way that would work is if the blood was sold as insurance prior to its actual need. then you would need some sort of rapid deployment system. it all seems too expensive for too small potential market.

Yeah, it would be like an insurance policy - you'd sent over a liter of your blood to a central location in whatever country you're headed to and it would be there for safekeeping for the duration of your trip. It's hypothetical, but I think the kinks could be worked out.

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Originally posted by Fir3start3r Student debt is a bitch and fortunately I haven't had to endure it.

You lucky bastad!

My debt interest will never be higher than my investment returns. Not saying I will always be this good, but my investments so far have made an average 40-50% return in 1 year. My debt interest is below 10% except for my credit cards which I will soon pay 100% off. I fully expect my net interest to be positive.

Krypt...If you paid off all of your debts tomorrow and owed $0.00, would you walk into a bank and take out another student loan to buy stocks?

That is essentially what you are doing.

And don't forget..with stocks, past performance is no guarantee of future results.

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Originally posted by Capitalizt Krypt...If you paid off all of your debts tomorrow and owed $0.00, would you walk into a bank and take out another student loan to buy stocks? That is essentially what you are doing. And don't forget..with stocks, past performance is no guarantee of future results.

leverage can be your best friend. while i certainly wouldn't do what krypton is doing, if he can sustain a ROI > student loan interest, then it's not a bad move. obviously, there's no guarantee, and that's why i wouldn't do it myself - I'm pretty risk adverse when it comes to financing my life with 200K of student debt.

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Originally posted by jerZ07002 leverage can be your best friend.

And it can also be your worst enemy.

quote:

Originally posted by Shakka And it can also be your worst enemy.

absolutely. knowing how to use it makes people fabulously wealthy

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