Money Question

[IIC]

Sounds to me it either it doen't pay to fly, or there's a bunch of clowns running the buisness.

Speakin of hot pants , flew hooter to Myrtle beech and they had some nice girls aboard. On the way home we got robbed, no hooters girls!!!!

Speaking of Hooters...They will be opening a new Hooters Hotel and Casino in Vegas soon...I'm counting on Dave to get us all comped there...Maybe that's where we should hold the Mr. Market Convention???

http://www.hooterscasinohotel.com/

Geez...this thread sure changed directions fast...IIC

[OmahaInvestor]

I was in Vegas a few weeks ago. The Hooters casino I think opens up this month or at least this quarter. Around here though the Hooter girls usually aren't that good looking. In fact, we even had a pregnant one once.

Back to the subject I've decided not to use the money for investing. I'll just work more hours at my job and save up it'd be much easier that way. Thanks for all the advice.

[Adam]

Speaking of Hooters...They will be opening a new Hooters Hotel and Casino in Vegas soon...I'm counting on Dave to get us all comped there...Maybe that's where we should hold the Mr. Market Convention???

http://www.hooterscasinohotel.com/

Geez...this thread sure changed directions fast...IIC

Girls, liquor,stocks and gambling? I'd never forgive myself if I missed it!!!
VEGAS $$MM$$ CONVENTION!!!!!


Everhing changes faster now in the information age....one minute money, the next minute panties.....or have they always been that close???


OmahaInvestor, Always study before you invest. Invest in a financial education. By that I mean Investing in all types of assets as well as you schooling. When you go to the bank for a loan noone asks to see your your grade transcipts or resume, they want to see your balance sheet. This is the report card for the affluent. How you manage this balance sheet is what makes you wealthy. I believe IIC said what he learned in colledge was to work the system and work the people. I only made it 1 1/2 (not very good)years in colledge before I had to make money to live. I've lost lots and learned lessons, every failure has more lessons than does a success. Financial education. Learn to read financial statements. You sound like your already on the right track with your decision. Don't forget about the infinite investment options. Real estate, if the market softens, it would be a good time for a young man to get into a house at a reasonable price by his colledge to live and rent out for a couple years and when you graduate you should be selling for a profit. See, many options study them, each has separate risks, some are more stable. You've already started in the right direction by joining the group here.

$$MM$$ is huge!!! and only the finest meats and cheeses are here!!!

[Websman]

I'm liking the $$$Mr Market$$$ in Vegas thing. I can get a good deal on some AirTran tickets out of Pensacola.

[mimo_100]

I would borrow, if....

Right now I am in college and I have the luxury of getting most of my college paid for through scholorships but I still have the option of taking out student loans. Do you guys think it'd be stupid of me to use this money not for school but to take it out and use it to invest? It'd be interest free until I graduate, plus its a very low interest rate after that? I've been successful this far and wouldn't take too much out that it'd kill me if I lost it. It is cheaper than trading on margin and being in college I don't have a whole lot of excess money to invest. What are your opinions on this idea?

If the money is interest free, you could borrow $20,000, and make 3 or 4 thousand dollars by taking out a 3 yr cd compounded at 5%, then paying it back when you graduate. No risk. This assumes they would let you use the money whereever you wanted.

Tim

[IIC]

If the money is interest free, you could borrow $20,000, and make 3 or 4 thousand dollars by taking out a 3 yr cd compounded at 5%, then paying it back when you graduate. No risk. This assumes they would let you use the money whereever you wanted.

Tim

He'll have to pay taxes on that money though...IIC

[mimo_100]

He'll have to pay taxes on that money though...IIC

Good point.

I assumed that, as a student, his line 36 was pretty small.

I just ran a quick tax return on Joe Student who earns $8000

in wages, pays $800 in fed taxes, $200 in state taxes, FICA and Medicare,

earns $1000 in interest, $4850 in standard deductions, and $3100 in personal exemptions. His total taxable income was $0. He got an $800 tax refund.

I used TurboTax 2004 as I have not purchased 2005 yet.

Tim

[IIC]

Good point.

I assumed that, as a student, his line 36 was pretty small.

I just ran a quick tax return on Joe Student who earns $8000

in wages, pays $800 in fed taxes, $200 in state taxes, FICA and Medicare,

earns $1000 in interest, $4850 in standard deductions, and $3100 in personal exemptions. His total taxable income was $0. He got an $800 tax refund.

I used TurboTax 2004 as I have not purchased 2005 yet.

Tim

Can I send you my taxes too...you're fast???

[mimo_100]

Can I send you my taxes too...you're fast???

(Laughing).............

TurboTax is fast -- I just feed in the numbers. It's quite easy. Try it
if you haven't done your taxes yet -- cheap -- $40.00.

[IIC]

(Laughing).............

TurboTax is fast -- I just feed in the numbers. It's quite easy. Try it
if you haven't done your taxes yet -- cheap -- $40.00.

Taxes...Is it October yet???

[Adam]

Yea, Its getting that time of year. I just through everythig I got at my accountants and let them figure it out, K-1, W-2, 1099's, statements out the wazoo, friggin F-15's, everything...lol