Investment BS Thread - Stocks/Futures/Mutual Funds/Bonds/Commodities/Options/ETFs/401ks/Etc

If I'm putting money in a college fund that I'm not touching for 15 years, where should I put it?

 

god dammit CHK.. killing me

 

Yeah etrade is your broker

 

Yeah dude, you should have cashed out after earnings. Oil report just came out and there’s a huge build.

 

Ugh... that plus the fed interest rate hikes... just not helping me at all

 

Check out some ETFs or mutual funds with low expense ratios.

 

That's what I was thinking. Going to talk to a guy a Chase tomorrow. Was also thinking to have the college fund in a Roth IRA, as I believe I can pull out the basis to pay for college.

 

I hope you guys bought some today. Lots of stocks on sale today. And based on history, March is a very good month for stocks.

 

The ones I listed earlier with GME, F, GAIN.

Other ones I watch and buy when the right price are PSEC, T, RIG, ETE, MRO, JCP

I’ve been watching all these for years now so I’ve learned their patterns. Just make sure you do your due diligence before any purchase. It’s your hard earned money after all.

 

Just remember that roth’s have limits each year. Any college plans sponsored by the state (yes probably risky in CA). Up here in NV they have one that parents can pay into for a certain amount of time.

 

I would highly recommend not doing any college type savings plans. Those actually hurt you when your kid applies for financial aid. It’s a kick in the nuts if you try to plan. Thank you government.

 

Didn’t realize that....plus his location probably makes it twice as bad

 

Yeah, sadly, you want to look as poor as you can on paper when your kids apply for financial aid, in order to get the most money in grants.

 

529 plans in California don't offer any incentive over a roth IRA that I am aware of. I believe other states offer incentives on 529s, but sadly nothing here (please correct me if I'm wrong, my primary advisor is Google )

 

looked at gun stocks yesterday... today they are up 5%. Went ahead and purchased. They will all likely have good quarters.

RGR, OLN, AOBC, VSTO. Been watching VSTO for a while.. they have had a struggling year or so and have just starting turning things around recently.

 

I have to respectfully disagree with this statement.

A lot more plays into financial aid than just what you have in an IRA. If you're married, and have a good household income, THAT will be what stalls financial aid, so you are in a MUCH better position to help pay for college by saving early.

I look at it this way: do you want to pay a college bill with current paycheck, or pay with savings, that grew over time? Easy answer.

The kid should also be able to still apply for some kind of financial aid/grant money/scholarships, as well as take out some loans to help pay for his/her education.

 

Uhhh, you do understand the government only helps people out in need, right? But that’s fine if you want to live in a goody goody world. In reality, the government and colleges only help out ( give free money) people in need ( unless it’s a scholarship or merit of some kind for good grades.). Everyone qualifies for student loans. Not everyone qualifies for grants.

It like I said, it’s what is on paper that counts, not what you actually have. Dude, does the government give welfare to people making $100k/yr? Do they give free healthcare to people making $200k/yr? Then why would they give money to someone for college when on paper, it shows they can afford it.

Reality, man, reality....

 

hehe, you proved my point without realizing it.

What you saved in an IRA will have much less to do with how much grant money you qualify for, than your household income.

 

To prove my point, my dad (a single father), didn't make more than $30k/yr, but had college savings going for me. We qualified for a ton of financial aid because his salary was so low, and had much less bearing on the college savings he set aside.

Maybe it differs for state grants....

 

Huh, you lost me....and yet you proved my point in your next post. Your dad was poor and you got more aid. Ummm, isn’t that what I originally stated.