Investing/Finance/Career thread

[MaxVn]

Something to discuss other then politics, which BTW are depressing me way too much to discuss.

Now, politics COULD have a huge impact here, so it might be unavoidable.

Anyway, I'm currently learning how to invest using options, which all of my investing savvy friends are doing.

[Zak]

Probably will only allow you covered calls and depending on firm you need minimum equity amounts for other strategies. You have a margin account?

[Rob S]

My 401k is really all I have right now - fortunately my company contributes an automatic 3% and on top of that matches up to an additional 6%, so that is looking pretty robust.

Beyond that, most of my free cash is tied up in a high yield (1.05%) savings account. I'd like to do better w/ that since it's a decent chunk of money, but might buy a house soon so want to remain liquid and keep the risk pretty low. Any advice?

[Zak]

Rob looking to open a savings with similar yield since not much else out there. If you don't mind me asking what bank is that with?

[MaxVn]

Originally Posted by Zak

Probably will only allow you covered calls and depending on firm you need minimum equity amounts for other strategies. You have a margin account?

Yes, with Scottrade. But I'm thinking of switching to Optionhouse.

[Rob S]

Originally Posted by Zak

Rob looking to open a savings with similar yield since not much else out there. If you don't mind me asking what bank is that with?

Synchrony. I believe Goldman Sachs offers the same rate too.

[nepg]

It's so sad that 1% is high yield now.

[Babylon]

Originally Posted by Zak

Probably will only allow you covered calls and depending on firm you need minimum equity amounts for other strategies. You have a margin account?

I'm still looking for some stock tips from you.

[Zak]

Originally Posted by MaxVn

Yes, with Scottrade. But I'm thinking of switching to Optionhouse.

I'm in finance with Merrill but I don't even trade.

[Zak]

Originally Posted by Babylon

I'm still looking for some stock tips from you.

Muni bonds for you is where you should be. You could be raking it in on the right ones and you get steady income at your age I hear that's important.

[MaxVn]

Originally Posted by Babylon

I'm still looking for some stock tips from you.

Be careful with that, no one knows 100% of the answers, even people with insider knowledge might get blindsided.

[Babylon]

Originally Posted by Zak

Muni bonds for you is where you should be. You could be raking it in on the right ones and you get steady income at your age I hear that's important.

Good one.

[Zak]

Originally Posted by Babylon

Good one.

You really should be in on at least half portfolio muni's or GO's for real.

[Babylon]

Originally Posted by Zak

You really should be in on at least half portfolio muni's or GO's for real.

I actually sold about 75k of stocks today. The whole Trump thing is starting to wear on everyone.

[MaxVn]

Originally Posted by Babylon

I actually sold about 75k of stocks today. The whole Trump thing is starting to wear on everyone.

I'm thinking of getting out for now also.

It was unstable as it is and any big news could just cause another 2008 (hopefully not).

[Rob S]

Get out, wait for the crash, jump back in.

[MaxVn]

Originally Posted by Rob S

Get out, wait for the crash, jump back in.

I wish I knew in 2009 what I know now...

Or listened to some people, who were telling me not to be afraid.

Fear of uncertainty is a powerful thing.

[ImBrotherCain]

Originally Posted by Zak

I'm in finance with Merrill but I don't even trade.

Huh, I didn't know that. I am an independent advisor.

[Rob S]

I used to sit on the trading desk, but it made trading for yourself very annoying w/ all of the compliance hoops they made you jump through.

[ImBrotherCain]

Originally Posted by Rob S

I used to sit on the trading desk, but it made trading for yourself very annoying w/ all of the compliance hoops they made you jump through.

Are you with the same company?