Where's your Financial Peace /pol/?

i have a series 7 license and a nursing license but no one will hire me because violent felony conviction and high school drop out

wat do

if you say become sex worker i may agree

>>128203592
Lmfao now we have shitty finance motivational guys shilling here?

Fuck off old man, this site isnt for you

Saged

>>128203846
Do you belong to a church or some type of organized community? With a "violent" felony, you'll need someone that knows you or can vouch for you just to get your foot in the door. The felony sets you back far enough to where you now have to rebuild trust. You may not want my advice but I'd say search for a volunteer position related to your field. While volunteering you'll need to be networking, showing up to work with a smile, be friendly, you know... the kind of shit most felons aren't usually accustomed to. After you make a few friends that will be your reference, start looking around for jobs that pay.

>>128204251
Go back to selling usury kike leaf you don't know shit about me.

>>128204251
And I forgot, fuck off to reddit with that spacing.

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>>128203592
>be me, 20something, degree, full time job, paid off my car, paid off my student loan
>NO DEBT
>18k saved up
>Going into the military, and they help pay your rent

So basically with no debt and very little expenses, what should I do with the 18k? I keep thinking down payment on a house because I really want to own a handful of acreage. Or should I take a chunk of it and invest? I know nothing about stock/crypto investing though. That's why I haven't.

>>128205203
You're going INTO the military, right? Will they be paying for your living expenses, food, etc.? How long will you serve?

>>128205203
Basically, I'm wondering what your financial needs will be over the next 5 years. If you will be serving in the military (which I am grateful for you doing) and simply living off the pay then, sure, go ahead and invest it into a growth stock mutual fund. You should expect a rate around 9-11%. If you don't touch that money for 7 years then it will double.

>>128206078
Yeah, enlisting soon. You can live on base for free essentially as long as you don't over-use electricity/water. You're entitled to eat on base for free at the chow halls or buy your own food if you would rather. If you live off base, they pay you X amount of money each month, based on the average rent of your area. (BAH) That is a non-taxable allowance. If there's money left over, you can pocket it. i.e. Your rent is $800 a month but the military gives you $1200 a month, you can use the extra $400 for utilities, savings, whatever. I plan on doing just that. I plan to live in a cheap ass apartment or trailer near the base and bank BAH money as well as bank the majority of my regular paychecks. I'm doing 4 years, maybe more if I like it.

>>128206903
Cool. Like I said, that money will double in about 7 years and would be a damn good start to a down payment on a HOUSE. Don't buy a trailer, they lose value. Rent them all you want or buy a trailer park as a business but do not buy one as your permanent residence.

Will you need a car? You may want to keep about $5K and get yourself a beater to drive around.

>>128207480
I recently bought a used car in great shape and paid for it in cash. I'm the type to save money and forget about it. I'll look in to growth stock mutual funds. Some one else once told me to look into a Roth IRA for retirement, too.

Another question, how volatile will you predict the housing market to be in the next 5 years or so? One thing I heard of military people doing is buying a small, slight fixer-upper house and using the BAH to pay for a mortgage and using the extra to repair it, then either flipping it or renting it out when it's time to move to another base. I have carpentry experience and general maintenance know how. Is this a decent route to go for making extra cash? One thing I'm afraid of is the looming Canadian/Chinese housing bubble and how that will spill over to the US.

>>128204703
>the kind of shit most felons aren't usually accustomed to
Son a bitch, I smile all the time. I'm super pleasant. Say this shit again and I'll find you and cut your eyes out

>>128208274
Roth-IRA is the best vehicle for retirement outside of a COMPANY MATCH 401(k). They're better than a 401(k) but if your employer is matching then nothing can really beat that. IRAs are for retirement, you can withdraw from them when you're 65 or 67, one of those two.

Since you're young and will likely need the money soon to start your life then I would go with a mutual fund. It's like a long term savings account that can lose money but historically average a 10% return. When you look into them make sure you check when you can take money out, they will vary in this respect. You'll have to pay a 20% capital gains tax on your profit. So if it doubles, you're looking at $3,600 in taxes but that's not bad. I'm just trying to explain the difference between mutual funds and IRAs because one is very long term (IRA) and the other can be available to you usually within 10 years.

>housing market question

It depends on the loan terms. Here's a rule of thumb: after a 20% down payment on a 15 year FIXED rate loan, your mortgage payment should not exceed 25% of your monthly income. This is a very conservative approach to home ownership and usually keeps you safe if you had to sell it in a down market (aka had to take a loss). Predicting housing booms or bust is damn near impossible so I wouldn't let people scare you out of purchasing a home. If I were you though, I'd wait to own a house for a few years before becoming a landlord. The other guys on the base that are renting houses probably have more money in the bank, or they're risking a lot. The rule of thumb for renting is: you want the renter to pay $600 over the amount of your mortgage. This amount helps to pay for a roof leak, a busted AC, tree roots growing into your sewer line, you know... all the stuff you would be expected to fix within a week as a landlord if the issue arose.

If you do get a fixer upper then it would probably be best to sell if you move.
Continued--->

I thought about this the other day. My wife was poor. Her Dad left her Momma nothing..

I will leave his daughter a paid off house,a pension,life insurance, and social security. Plus my 401k.

>>128208274
Else, you would have to hire a management company that will likely eat your profit margin. Still, I'd wait until you're out of the military to buy a house. My first house was a fixer upper and it ended up costing me about $56k but a fixer upper is definitely the way to go imo. Houses aren't going anywhere. You'll be less worried going into it with a set plan and cash still in the bank after your down payment.

>>128209536
Well you have a sense of humor so you'll be fine.

>>128211543
Hopefully you don't have to leave her anything for a long while anon but cheers for being a man and taking care of shit. Too many "men" these days can't grasp this.

Maybe I'll do another one of these threads again at some point. I've got to bounce.

Listen to this guy! He has sound advice that your dad would give if your dad knew about finances:
https://www.daveramsey.com/show/archives/2017-06-01?mode=watch

>t. Not a shill, leaf. It's a free broadcast.

Solid advice, OP. I'm gonna watch this thread. Thanks.

Are you doing this to help out young white people get ahead in life?

>>128204251
It's not shitty. It has changed my life.

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>>128212611
By default; how many niggers do you think can read, let alone bother to access financial advice?

Bump

Dave is awesome

>>128213569
I'm white living in a highly culturally enriched area. Of all my life, I've known ONE nog to have the mind set to get ahead. And I've known a lot of nogs.

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>>128205203
fucking ignore everyone else. Invest in Ethereum, and Bitcoin. Cryptocurrencies are getting rediculously popular in Asia, and are skyrocketing. Bitcoin will be 4k by end of year. Ethereum will be 1k. We are talking 100% dividends over just 6 months if you invest now.

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Bump

>>128214441
Got any good literature or videos to read up on the stuff? I remember when BTC was $5 and I kick myself now for not flinging a few bucks at it. Also, how hard is it to convert larger amounts of crypto to cash or other physical goods, if I ever needed it? That part freaks me out a bit. I don't want to invest in crypto, watching numbers rise and fall, without being able to get something tangible in the end.