Boiler Room: The Official Stock Market Discussion

[Rickdogg44]

This shyt is actually piff.

I agree with most of what dude is saying. Here's some basic personal finance videos:





Should be a mandatory watch if, you have the time.....

1. Cars: I buy new - probably not smartest - but i try to drive it for 7+ years. I don't want a lemon :burr:. I usually pay it off within 2 years. With 0%APR or very low APR%. I hate interest....
2. Fashion: I wear gym clothes 24/7. I wear the same 3 or 4 shorts. And regular shirts. I have like 3 pair of shoes. Spend less than 100 on each pair.
3. Jewelry: No. One watch only.
4. Eating Out: on Friday Night and either Saturday Night or Sunday morning. Rest we cook in. I only get Moe's monday for work lunch since it is like $6 total ol
5. Smoking: I don't smoke
6. Drinking: I drink at home. I only go hard once a week (at home). That bourbon (Jim Beam or Jack) and coke We do drink when eating out - i know it is terrible mark up . My wife gets wine for home drinking - box wine . I got on to her about buying $20 bottles all the time. So a box is like 3 bottles and cost $20
7. Gambling: Only recently with some of these penny stocks I do encourage all my gambleholics to use Golden Nugget for your vice . My wife and her sister do like $4 a week on lotto
8. TV: We watch from dinner (7pm) to bed. We have cable, amazon, netflix, disney+, starz, hbo, - i know this is something we should cut
9. Relationship: GMB ... been married 8 years . Wedding cost and engagement ring tho
10. Shopping: I don't shop. I just reluctantly replaced my 10 year old router . I'm frugal like that. The only thing i probably spend on that is "wasteful" is Hawks Seasons tickets. Don't disrespect the set

 

[Rickdogg44]

1. Budget - I track all our spending in a spreadsheet. I've been doing this for 10+ years. I know exactly where every dollar that comes in and dollar that goes out. I have categories and sub categories of expenses and income. This really should be taught in schools. EVERYTHING. I make my wife turn in receipts . So i can check that Publix bill for wine, cosmetics, etc... We don't do cash and are merged bank account - So I can keep an eye on her
2. Debt - Only house mortgage. We paid off student loans in early 30s. Both cars are paid off and fairly new still. We sacrificed to have goals to pay these off fast. No credit card debt. Just use credit card to get them points. Pay off the credit card at end of the month.
3. Save - Once student loans and cars are paid off. I started put into savings. It was automatic. The 1st and the 15th. I automatically increase that amount each year as we got raises. It was all really based on my spreadsheet in number 1.
4. Investing - This has been my thread for past 3 months Just started probably two months ago. Like other breh's said - I need to find something to do with my "emergency" fund. It is jelly status just sitting in the account.
5. Insure - We both have life insurance. Health through work. I don't have disability insurance though


I'm just given you my perspective. I hope it helps some young bucks. I wish I did this earlier in my twenties. I really started in my late 20s / early 30s. It doesn't happen over night. Takes time.

 

[K-Deini]

fukkING CREG ABOUT TIME

MADE 7K THIS MORNING

 

[old pig]

fukkING CREG ABOUT TIME

MADE 7K THIS MORNING

great way to kick off the weekend

 

[Serious]

1. Cars: I buy new - probably not smartest - but i try to drive it for 7+ years. I don't want a lemon :burr:. I usually pay it off within 2 years. With 0%APR or very low APR%. I hate interest....
2. Fashion: I wear gym clothes 24/7. I wear the same 3 or 4 shorts. And regular shirts. I have like 3 pair of shoes. Spend less than 100 on each pair.
3. Jewelry: No. One watch only.
4. Eating Out: on Friday Night and either Saturday Night or Sunday morning. Rest we cook in. I only get Moe's monday for work lunch since it is like $6 total ol
5. Smoking: I don't smoke
6. Drinking: I drink at home. I only go hard once a week (at home). That bourbon (Jim Beam or Jack) and coke We do drink when eating out - i know it is terrible mark up . My wife gets wine for home drinking - box wine . I got on to her about buying $20 bottles all the time. So a box is like 3 bottles and cost $20
7. Gambling: Only recently with some of these penny stocks I do encourage all my gambleholics to use Golden Nugget for your vice . My wife and her sister do like $4 a week on lotto
8. TV: We watch from dinner (7pm) to bed. We have cable, amazon, netflix, disney+, starz, hbo, - i know this is something we should cut
9. Relationship: GMB ... been married 8 years . Wedding cost and engagement ring tho
10. Shopping: I don't shop. I just reluctantly replaced my 10 year old router . I'm frugal like that. The only thing i probably spend on that is "wasteful" is Hawks Seasons tickets. Don't disrespect the set

Glad you’re doing aight but most people in tlr would fail this list.

 

[Scholar]

Lotto ticket play.

Tsla call for today 1700

 

[Scholar]

NVDA 480 Calls as well

 

[KalKal]

I gave in and bought this this morning:
TSLA Sep 11 '20 $1490 Call

It was still out of the money when I bought it, now its up 39% in a few hours.
But I don't feel so good about it. I don't really think the stock should be over 1500, that's crazy. I'll probably get rid of it before the actual split.

Bought at 120 Wednesday, and I have a limit to sell when it doubles to 240. Looks like it might actually hit the limit any minute now.

Lotto ticket play.

Tsla call for today 1700

Buying calls that expire the same week is just TOO stressful for me ever since COVID made the market go crazy. You'll give yourself a heart attack that way.

 

[Scholar]

Bought at 120 Wednesday, and I have a limit to sell when it doubles to 240. Looks like it might actually hit the limit any minute now.


Buying calls that expire the same week is just TOO stressful for me ever since COVID made the market go crazy. You'll give yourself a heart attack that way.

I agree. Same day call is even worse. You can literally blow up your account in seconds. Would not advise

 

[Hiphoplives4eva]

Bought more OPTI

Its either go big or go home with me.

 

[winb83]

real shyt the only thing that’s hard to get around is the car

crazy how much is wasted on shyt like clubs and eating out

I drive a 2016 Honda Civic EX-T I put $10,000 down on in Oct 2019 and pay $162 a month on a 5 year 2.99 APR loan. Every month I pay the $162 to my credit union and put another $162 in a high yield savings account.

In another year and a half that high yield savings account will have enough money to pay off the loan in full in it.

I’ll be honest I don’t live on a budget. My paycheck is split among 4 accounts via direct deposit when I get paid. About 36% of my take home pay is put into accounts I don’t touch. The other 64% I live off of.

I am not frugal but I am cheap. I only spend money on stuff I really want but I still waste a lot of money.

 

[ill]

I drive a 2016 Honda Civic EX-T I put $10,000 down on in Oct 2019 and pay $162 a month on a 5 year 2.99 APR loan. Every month I pay the $162 to my credit union and put another $162 in a high yield savings account.

In another year and a half that high yield savings account will have enough money to pay off the loan in full in it.

I’ll be honest I don’t live on a budget. My paycheck is split among 4 accounts via direct deposit when I get paid. About 36% of my take home pay is put into accounts I don’t touch. The other 64% I live off of.

I am not frugal but I am cheap. I only spend money on stuff I really want but I still waste a lot of money.

If you're not touching 36% of your take home then you're doing it right

 

[Saysumthinfunnymike]

That last little bit of run up into earnings for DKNG was likely pumpers but you had to know the earnings would be bad and some people would panic. All I wanted to see is the guidance and look, I still think DKNG is the leader in the space when it's all set and done. You don't have to 'choose' one or another though, all these companies are going to be very profitable in the future.

 

[Saysumthinfunnymike]

This discussion y'all having, it's absolute fact that eating out all the time and doing the club shyt or if you're actually takin these women out to places is a killer.

Only thing I do on that list is buy new cars because that's the one thing on the list where I feel like I want to drive in a little bit of luxury but I can afford to do it and my last ride I put down over 50% I'm about to trade it into something else the value of the car is way more than what I have left to pay on it.

This all started when I bought a Nissan way back when I was a kid basically for nothing and I flipped the Nissan for more money than I bought it for two years prior in a private sale. I just keep rolling money over into new whips. It works for me.

 

[Saysumthinfunnymike]

The second part, I've always been a saver and all that. The only thing I still do is hold too much cash. I should be upping my percentage on investments and holding less cash but I'm not comfortable enough with investing YET to the point where I want to do that.