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My journey to 10k


 


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 2 weeks ago '04        #801
Randeezle 
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$2,500 | Props total: 1298 1298
 Grisly said
hell yea same here

thanks for the info

i'm on a mission to bring in at least a FEW extra hundred a month off doing as little as possible even if it just ends up helping pay off a few random bills or something

i just hate the feeling of always ONLY having money go OUT and rarely back in besides a paycheck smh gotta shake things up
You can do it brody. I look at it like the gym. After you see your first real result, say.... $500-1000 it becomes addicting. The interest part is what I love most because the more you save the higher the payment jumps. My goal for both accounts is $20/mo right now. When I look at it like that, saving takes on a new purpose. And the end result is you have more money? No brainer.
+4   

 2 weeks ago '11        #802
eliwood 147 heat pts147
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$36,100 | Props total: 13993 13993
 eliwood said
Balances to start 2019

Bank - $4,000

Brokerage Accounts:
$12,200
$2,200
$2,000
Total Brokerage Accounts - $16,400

IRA - $5,300

Cash - $500

Total a*sets - $26,200
Feb Update

Bank - 6,900 ()

Brokerage Accounts:
13,800
2,600
2,150
Total Brokerage Accounts - 18,550

IRA - 5,600

Cash - $500

Total a*sets - 31,550
+3   

 2 weeks ago '04        #803
Kliq 286 heat pts286
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$10,057 | Props total: 37630 37630
 eliwood said
Feb Update

Bank - 6,900 ()

Brokerage Accounts:
13,800
2,600
2,150
Total Brokerage Accounts - 18,550


IRA - 5,600

Cash - $500

Total a*sets - 31,550

Put me on, what exactly are brokerage accounts and how can i get in and where should i start?

 2 weeks ago '04        #804
Kliq 286 heat pts286
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$10,057 | Props total: 37630 37630
I just got a new job

with my first paycheck I got taken over the 10,000 mark (the check also included a sign-on bonus)


now i gotta see how the fu*k to intelligently invest this money before i blow through it

my first hunch is to pay off my student loans. already put $500 towards one of them (its $3500 total) i'm going to drop $500 per month for the next 7 months and knock it out


I also did 6% on my 401k (little over $300 per paycheck)

though I don't think im hip to the Roth IRA yet, i need to look into that


also heard HSA savings account is a good way to save
+3   

 2 weeks ago '11        #805
eliwood 147 heat pts147
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$36,100 | Props total: 13993 13993
 Kliq said
Put me on, what exactly are brokerage accounts and how can i get in and where should i start?
Brokerage accounts hold stocks

At the start of the year the market was terrible and it's recovered nicely so that makes up a lot of my growth as far as that goes

I buy stocks with the intent of holding em forever.

By April it'll be a year since I started buying. Compared to what I've bought shares for throughout this year and what they're worth now, my portfolio has gone up $2,000 doing nothing At one point it was over 4,000. Fluctuations like going from up $4,000 to actually being negative and now back up $2,000 come with the territory and I wouldn't invest anything that would k*ll you if you lost. It's not like these companies are going away any time soon though, so I think the general public's fear of stocks losing money is way overblown

 2 weeks ago '11        #806
eliwood 147 heat pts147
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$36,100 | Props total: 13993 13993
 Kliq said
I just got a new job

with my first paycheck I got taken over the 10,000 mark (the check also included a sign-on bonus)


now i gotta see how the fu*k to intelligently invest this money before i blow through it

my first hunch is to pay off my student loans. already put $500 towards one of them (its $3500 total) i'm going to drop $500 per month for the next 7 months and knock it out


I also did 6% on my 401k (little over $300 per paycheck)

though I don't think im hip to the Roth IRA yet, i need to look into that


also heard HSA savings account is a good way to save
Everything you're considering here sounds great

Sounds like you've done your homework
+1   

 2 weeks ago '04        #807
Kliq 286 heat pts286
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$10,057 | Props total: 37630 37630
 eliwood said
Brokerage accounts hold stocks

At the start of the year the market was terrible and it's recovered nicely so that makes up a lot of my growth as far as that goes

I buy stocks with the intent of holding em forever.

By April it'll be a year since I started buying. Compared to what I've bought shares for throughout this year and what they're worth now, my portfolio has gone up $2,000 doing nothing At one point it was over 4,000. Fluctuations like going from up $4,000 to actually being negative and now back up $2,000 come with the territory and I wouldn't invest anything that would k*ll you if you lost. It's not like these companies are going away any time soon though, so I think the general public's fear of stocks losing money is way overblown
are you taking advantage of compound interest?

also thanks - any sites you recommend to get started with a brokerage account?
+1   

 2 weeks ago '11        #808
eliwood 147 heat pts147
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$36,100 | Props total: 13993 13993
 Kliq said
are you taking advantage of compound interest?

also thanks - any sites you recommend to get started with a brokerage account?
It's not compound interest because the stocks aren't cash, but cash equivalents technically speaking

My bank account is with Ally Bank which is like 1.7 % I think

I'd recommend signing up for Robin Hood, since there's no commissions on trades and they have a simple platform and interface
+2   

 2 weeks ago '04        #809
Kliq 286 heat pts286
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$10,057 | Props total: 37630 37630
 eliwood said
It's not compound interest because the stocks aren't cash, but cash equivalents technically speaking

My bank account is with Ally Bank which is like 1.7 % I think

I'd recommend signing up for Robin Hood, since there's no commissions on trades and they have a simple platform and interface
dope, i'm already on RobinHood. Can you do brokerage accounts there?

my bad if i'm mixing up the termanology

in my head, i'm a*suming a brokerage account is a collection of stocks bundled into one package vs. traditional stocks which is picking a company you support/researcehd and buying individual shares

 2 weeks ago '11        #810
eliwood 147 heat pts147
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$36,100 | Props total: 13993 13993
 Kliq said
dope, i'm already on RobinHood. Can you do brokerage accounts there?

my bad if i'm mixing up the termanology

in my head, i'm a*suming a brokerage account is a collection of stocks bundled into one package vs. traditional stocks which is picking a company you support/researcehd and buying individual shares
Brokerage is just stocks in general

What you're referring to is more so an Index Fund or ETF

I hold ETFs in my IRA and actual individual stocks in my different brokerage accounts.

You can go for ETFs within Robinhood. Look into Vanguard's funds. They have a lot of variety. If you're wanting to hold for long term I'd say Total Stock Market fund and also Dividend Appreciation fund (I think that's what they're called)
+1   

 2 weeks ago '04        #811
Kliq 286 heat pts286
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$10,057 | Props total: 37630 37630
 eliwood said
Brokerage is just stocks in general

What you're referring to is more so an Index Fund or ETF

I hold ETFs in my IRA and actual individual stocks in my different brokerage accounts.

You can go for ETFs within Robinhood. Look into Vanguard's funds. They have a lot of variety. If you're wanting to hold for long term I'd say Total Stock Market fund and also Dividend Appreciation fund (I think that's what they're called)
+1   

 1 week ago '06        #812
24 Kalibur 4 heat pts
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$5,029 | Props total: 4642 4642
Doing the same thing to get to the 10k mark.

Rent: 950 (make my girl pay it)
Car: 630 plus full coverage and Insurance 117
Garage : 180 (waiting to cut this out after I move)
School: 230 A month (not too bad)
Gas: 30 a week or if I drive less
Groceries about 150 every 2 weeks.

Dont eat out, dont go out at all, only get starbucks sometimes and cook and always bring food to work.

Saved 4000 So far plus taxes added about 2200 and keep working some OT in about 2 months I will be at 10k

trying to purchase my first loft and then pay it off
+1   

 1 week ago '09        #813
Zaosyn 264 heat pts264
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$14,950 | Props total: 2913 2913
I'm trying to hit my first 10k too.. I should have 8k saved up by April but gonna be moving to a new place and security deposit + rent + moving fee + maybe upgrading the bed gonna hit me but hoping to have that $10k by the end of the summer.

What exactly do I do after I hit $10k? Is there any way to make my money work for me? Because all I got going on for me is my career

 1 week ago '17        #814
Kingz2 1 heat pts
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$4,904 | Props total: 10669 10669
Ok I’m at the 5,000 mark I want to invest some or make my money work for me is there anyone that can help a brother out and point me in the right direction

 2 days ago '15        #815
87HUNDRED 58 heat pts58
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$877 | Props total: 6154 6154
Just added some more to my savings. Chase gave me $200 for opening a checking account.

1. Open the account put $25 in it.

2. Setup direct deposit for at least $500 a month.

3. Get your damn $200 within 10 days of completing both.

4. Close the account 7 months later. ( If you try to do it sooner they will take $200 back)

5. Find another bank with bonus signups.

You can google chase checking account $200 bonus and you’ll find it or you can.....


[pic - click to view]





I get $50 bucks if your use this link:

I already got my $200 though, so I don’t really need it. And I broke $10k goal a few years back.

 1 day ago '09        #816
Hamburgers 22 heat pts22
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$4,733 | Props total: 3362 3362
What’s the update?

Is OP still broke?

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