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Thread created 01-14-2013 by Raylon
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401k are great for 401k Hedge Fund Managers whom get to bank off your money with fees and pass on all the risk to your accounts.
They are also great for Governments, because you will continue to be...
Fresh Outta College Newbie
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Thread created 01-14-2013 by Raylon
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Depending on your company rules for buying and selling, if there are no restrictions to sell, it is near zero risk to invest max in ESPP at the discount and sell the stocks the instant you get them. ...
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Thread created 01-14-2013 by Raylon
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Unless you're planning on keeping a ton of money in your checking account I would shop based on the features and convenience rather than the interest rate. At the end of the day .4 vs .1 on a $5-$10k...
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Thread created 01-14-2013 by Raylon
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Credit Karma has a credit simulation tool that will show you how your credit score may be affected if you open an account/close an account/pay a credit card bill late/etc. It doesn't really help you...
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Thread created 01-14-2013 by Raylon
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55k United miles - https://slickdeals.net/f/5796462-United-Explorer-credit-card-55K-0-fee-first-year-YMMV
50k Southwest miles -...
Fresh Outta College Newbie
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Thread created 01-14-2013 by Raylon
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You are young.
7k, black 22, vegas Let it ride.
If you want to save some money, please look at the travel forum for advice in vegas. cheers :)
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Thread created 01-14-2013 by Raylon
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The one article is referring to buying company stock in your 401K...that is not the same as an ESPP. The other article warns against having a lot invested in company stock and to spread your...
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Thread created 01-14-2013 by Raylon
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I only recommend to avoid Credit Card Interest Risk, and the allowing of hedge fund managers to bank off of your money and give you the risk.
Fresh Outta College Newbie
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Thread created 01-14-2013 by Raylon
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That wouldn't hurt your score as it probably wouldnt even be a real credit card (not old enough). Even if it did, its hardly even anything significant. Just keep racking up cards, and always pay them...
Fresh Outta College Newbie
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Thread created 01-14-2013 by Raylon
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(oops, double post)
Fresh Outta College Newbie
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Thread created 01-14-2013 by Raylon
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First, congrats.
FDIC insures up to 250k. As long as the account is FDIC insured, you're fine. Ally is FDIC insured and has a good reputation (though I don't use them myself). Good job with the...
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Thread created 01-14-2013 by Raylon
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So I graduated in May w/a degree in engineering. Got a lot of scholarships and with hep from amazingly supportive parents I have no student loans. Just turned 23. I managed to snag a job that started...
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Thread created 01-14-2013 by Raylon
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did you watch that episode of south park, too?
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Thread created 01-14-2013 by Raylon
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They definitely pay dividends. I need to find out about holding period but I am about 90% confident you can sell as soon as you get them. For those interested the company is Exelon.
Haha...
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Thread created 01-14-2013 by Raylon
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$500 sounds awfully high. I hardly see any that good. Most are doing $100 back after spending $500 or even $1000. This deal for $250 back on $1000 is best I've seen in a few months. Can you find one...
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Thread created 01-14-2013 by Raylon
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What is your reasoning for this?
I understand the idea of if things go south (stock goes down) and you get laid off it can be a double whammy but many ESPP's are very good. They can offer...
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Thread created 01-14-2013 by Raylon
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I would recomend creating a liquid savings plan that will allow you to put 20% down on a house when you want to buy. This will allow you to avoid very costly mortgage insurance which can be north of...
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Thread created 01-14-2013 by Raylon
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Companies have life cycles just like people. GM used to be seen as invincible. Kodak used to be a blue chip stock. KMart used to be the largest retailer in the United States. All have gone...
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Thread created 01-14-2013 by Raylon
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7k - black 22 (payout about 217k)
let it ride...
217k - black 22 (payout about 6.7 mil!!)
boom! RETIREMENT!
Who says you cant retire at 23?
If not, you can work another year to save 7k...
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Thread created 01-14-2013 by Raylon
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I don't believe my ESPP will be that risky. Stock prices are already very low and then I get a 10% discount on lower of the prices taken at opening and close of the quarter. Very good deal. The stock...
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Thread created 01-14-2013 by Raylon
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I mentioned cancelling cards if they won't waive annual fees. However, DON'T cancel your oldest cards, especially if they're your highest limit cards, too. Three of the largest factors to your...
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Thread created 01-14-2013 by Raylon
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When you cancel a credit card, it does not get erased immediately. The information stays on your report for many years. It's not really that big of a deal to cancel your oldest card unless it holds a...
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Thread created 01-14-2013 by Raylon
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You are starting out life ahead of your peers, good job.
1. Ally bank is a good bank, but I'd send you over to bankrate.com to compare banks and current interest rates.
2. I have an online bank...
Fresh Outta College Newbie
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Thread created 01-14-2013 by Raylon
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He's a student so he's got fairly little credit. He may not be getting as good of offers as you.
Fresh Outta College Newbie
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Thread created 01-14-2013 by Raylon
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Do not buy any (as in not a single penny) of your own employer's stock - it's too risky.
Your current path of picking up your employer's match in your 401(k) then maxing out a Roth with Vanguard...
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Thread created 01-14-2013 by Raylon
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Only places that accept AMEX are subway and kmart.
"Touch nothing but the lamp!" Even though you are surrounded by all these loans and offerings of more money, one false move and there goes any...
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Thread created 01-14-2013 by Raylon
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Credit cards + Online Savings accounts at 0.05% = Waste of Investors time explaining these consumer mindset choices...though continue to increase your savings by reducing your expenses, and continue...
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Thread created 01-14-2013 by Raylon
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It might be worth figuring out how much housing cost in your area. Start looing at some homes/condos in your area. That way you will knonw what you want and what it will cost. YOu can work towards...
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Thread created 01-14-2013 by Raylon
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FYI companies can be tricky with their 401k match and won't tell you that you have to put the minimum percentage *each paycheck* for their match. So don't frontload your contributions, because you...
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Thread created 01-14-2013 by Raylon
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if you end up going with Ally for a savings account I would suggest going with the Money Market Savings account its at 0.95% and they give a you a check book and a check card and let you do 6 free...
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Thread created 01-14-2013 by Raylon
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on opening new credit cards, $250 is not a good incentive. I usually have my cutoff at $500 or equivalent in miles/points (usually 50,000) Look around, there are much better deals on cards out...
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Thread created 01-14-2013 by Raylon
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Mileage bonuses are just as good as cash, most of them you can sell for at least 1.2 cents per point (~$600 or more per 50k miles) Check out the thread in this forum about Rewards2cash.com for more...
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Thread created 01-14-2013 by Raylon
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This is great advice.
The only thing I'd add to bonkman's advice is the biggest factor that makes up the FICO score is payment history - in other words, whether or not someone pays their bills on...
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Thread created 01-14-2013 by Raylon
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Thanks for the advice guys. I did have an old credit card I had when I was 16 that I cancelled. It was a vanilla Visa from my old bank that had a $500 limit that would never move. I decided to cancel...
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Thread created 01-14-2013 by Raylon
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Hmm Ally Bank offers a higher interest on checking .40 compared to Charles Schawb .15. I wonder if I should make the switch, thoughts? I am open a savings with them.
Fresh Outta College Newbie
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Thread created 01-14-2013 by Raylon
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You have some...interesting ideas. None that I will listen to but thanks anyways.
