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  1. Soulrize

    I don't want to contribute to an IRA. Am I nuts?

    INVESTING 
    So since its a Roth account it is assumed that it is after tax dollars and thus you don't report your contributions on your tax return. From the cash component of your business, for example your sales are 1000 a day, and you takeout 10 dollars a day. So that is 70 a week that is contributed...
  2. Soulrize

    I don't want to contribute to an IRA. Am I nuts?

    INVESTING 
    accident
  3. Soulrize

    I don't want to contribute to an IRA. Am I nuts?

    INVESTING 
    Its not legal however I think is smart especially if its on a small scale, that is if you had a cash business, you simply put pre-tax dollars into the after tax account. Not sure how you feel about it but its just an option to consider. I've helped small businesses do so myself with their...
  4. Soulrize

    Looking for some thoughts on Choice on investing in others

    PEOPLE 
    I'm a 22 year old minimal wage workering college student. I have a smart friend with a lack of opportunity in cambodia who needs a loan of 1000(and borrowing another 1k from relatives) to go to japan and learn skills and work over their in japan for an estimated 1400 a month . As a finance major...
  5. Soulrize

    Houston meetup

    MEETUPS 
    Finally a meet up in Houston , I'd look forward to meeting some fastlane minded people.
  6. Soulrize

    I just dropped out of college, homeless and broke. Advice!!!

    HOT! 
    That's the thing they (my parents included ) do ask what you want to be , and if it doesn't fit what they want to hear then they say get your degree anyways and you can do that after . They only see what the degree might offer which is security but don't see the debt and time commitment I'm...
  7. Soulrize

    Is anyone working on with brokerages?

    INVESTING 
    I personally feel the equity market is a little different from fx. Stocks and the people who trade stocks tend to be delusional . Theres nothing wrong with it because we all profit from "growth". However understanding how much a company's value is in non tangible like reputation among other...
  8. Soulrize

    I don't have the time or money...

    MINDSET RANT 
    congrats OP, let us know how the date goes ! Not from someone grounded in reality .
  9. Soulrize

    Finally found a mountain to start my fastlane journey, Stocks

    EXECUTION 
    Thank you for the realism because being the optimist I do want to leave out the BAD haha. Well, the bad this weeks is in two parts that in that my % profit came down to 11% on Tuesday along with being marked a Pattern day trader . The good is that I secured a friendly loan of 2,000 at 25 dollars...
  10. Soulrize

    Finally found a mountain to start my fastlane journey, Stocks

    EXECUTION 
    End of the week update. Investment capital still 2000, Earned amount is now at 24%. For the first time I wrote down my cardinal rules for trading as my losses were from poor risk management along with just flat out speculation. I have a visual now for these simple rules I won't break. I will...
  11. Soulrize

    Finally found a mountain to start my fastlane journey, Stocks

    EXECUTION 
    There is the assumption of a yearly rate of return when the 25% i'm talking about was made in 2 weeks. I'm not saying that's not uncommon to me but the long term it averages out probably. and I am obtaining more capital in the future, in the meantime I focus on what I can do which is building my...
  12. Soulrize

    Finally found a mountain to start my fastlane journey, Stocks

    EXECUTION 
    I put under the solutions that I don't want to manage other people money but would rather make my own though my own money as it keeps me in control and focused. The photo is an image, and say what you will people will judge you on your image. If you ask about it I'm not gonna lie its not my...
  13. Soulrize

    Finally found a mountain to start my fastlane journey, Stocks

    EXECUTION 
    I start this thread because after years of on and off commitment to investing in the stock market through day trades I have come to the realization I will use this method In order to start my journey. My experience in the market is very long (8 yrs + on and off) and with the advent of...
  14. Soulrize

    Are 5% yearly bonds/investments possible?

    INVESTING 
    never knew knowledge was a downside
  15. Soulrize

    How to lose your best friend in 1 hour

    PEOPLE RANT 
    This stuff happens all the time. I even had a run in where taking action just made them insult my effort. I have for a fact found better friends and those that are still my friends even after that, the friendship doesn't grow after that. They are what they were and will not move forward. I am...
  16. Soulrize

    Penny Stocks - Friend or Foe

    INVESTING 
    Yea I do agree with everyone having there own experience and my luck had me when my first stock tripled. I've been with the markets since and i don't believe you can only make 12% max on returns a year ever. However what your talking about sounds like you have no experience in the market and...
  17. Soulrize

    I just dropped out of college, homeless and broke. Advice!!!

    HOT! 
    I did exactly this option B. You will go back to school , you will do Option A and figure out life isn't fair. You'll return a grown up because life isn't just your ideology , theres a reality that you are apart of wither you like it or not. Spend some time in college figuring out what you want...
  18. Soulrize

    23k Net in Two Months. Best "Sitting Cash" Strategy?

    INVESTING 
    I wouldn't spread yourself out too thin as I've seen will keep you more attached and reliant to your salary job. I would grow the business and quit my job if you can have at least 2 shops and commit yourself to it full time. If you have no prior experience in real estate or stocks just know...
  19. Soulrize

    Best ROI for Retiree with $200k cash

    INVESTING 
    In my honest opinion there are 2 options , He should settle on a annuity to pay it out to him over time or giving his money to a individual who can best put his money to use wither it be a business loan with interest to someone trust worthy or ownership in a business of some kind. Option B...
  20. Soulrize

    Retirement Account for Self-Employed

    INVESTING 
    I just set up my mom's ROTH ira and I would highly suggest it being that capital gains inside are not taxed no matter your tax bracket. contributions capped at 5500 per year however you can invest your money anywhere and with a background I know stocks offer the greatest return . However Im...

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