I put $5,000 into it and just left it there. I called Ameritrade for my username/password and found out that my account value is $5,032!
On a different note......
I had a cool post prepared to put up, but I nixed it because I got a great business idea from it! No one has done anything like it before, and it can easily be a very very simple way to earn $1,000+ every month.
I've also found out that having my name so closely associated with this site has its drawbacks....when I try to negotiate a deal, people KNOW I have at least $X amount of money, so I can't pull the "I can't afford that!" routine.
-Nev
Does it involve another deprived homeless man?
ReplyDeleteBooze, Lottery Tickets, taking advantage of mentally unstable homeless people......when does the madness end?
ReplyDeleteWhen in doubt about where to put money in a brokerage acount SPY (SP 500) is always a good option. Congratulations for funding the IRA.
ReplyDeleteFor tips on where to set up an IRA or Roth IRA (for RJ Christensen): if you have a bit of capital (a few thousand), use Vanguard.com and the SP 500, or use Scotttrade or Ameritrade IZONE: http://www.izone.com/ and choose either SPY (SP500 again), or stable companies (since you are just starting). I like to use stock screens for above $500M in market cap, Lower than 20 in P/E, higher than 3% in dividend yield, and I throw some subjective meassure like: More than 4 out of 5 stars according to Standard & Poor's rating (this last one is optional).
Money and Investing
Hey Neville,
ReplyDeleteSpeaking of business ideas, I'm going around today inviting pf bloggers and their readers to a site that I just launched today, www.networthiq.com. It's inspired by you and your fellow bloggers that post your financial status in your blog. I invite you to check it out and let us know what you think.
Nev, tell me something:
ReplyDeleteWhy don't you buy that Honda CBR600RR bike you've been looking at? You have the finances, as well as the guarantee for future finances. cold feet?
why not invest in a HY CD?
ReplyDeleteI got to give you props, man. Reading your blog is refreshingly new.
ReplyDeleteConsider it added to my set of blog links (which I check bi-monthly).
I hope someday we can look back at your empire and say that it all started with a simple dream and an army of homeless guys.
ReplyDeleteYou seem so aggressive with your stock portfolio, but you leave your Roth IRA in cash? Let's see some action! =)
ReplyDeleteI don't think Neville knew you could invest your IRA in anything.
ReplyDeleteUnfortunately, your Money Market account will be earning less than inflation, so while it is better than nothing, you are effectively losing money over time (to inflation).
ReplyDeleteI would suggest investing the money in a broad stock index (since you are young and can take quite a bit of risk), such as the Vanguard Total Stock Market VIPER (ETF): see the symbol VTI (http://finance.yahoo.com/q?s=VTI) or moving the money to a Vanguard Roth IRA account (minimum: $3000).
In any case, congratulations for recognizing the value of retirement investing early on in your life!
I thought the limit on Roths for this year is 4K in contributions. Did you contribute all 5K in the same fiscal/calendar year?
ReplyDelete