I play that way with discover - sign up for the 5% cash back bonus etc - then redeem on cards that give an extra 20% - has been over 20 years since I’ve paid interest on a credit card. Navy Federal does a high yield option - but only for 3K - so many things have all but dried up this past year. Have had a few opportunities to open an IRA for a $50 bonus…which I’ve done - just have to wait out the balance between high stocks and low interest - the pendulum swings both ways but I never seem to be in the right place at the right time lately.
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Lol me too! And I’m scared to do anything but the ira. Stocks seem scary right now.
LOL guy at work just lost a bunch on dougecoin…
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I have no retirement so I’m testing the waters of crypto currency. I’m diversified and only have a small amount in each.
I have a state retirement plan. State Lottery, that is.
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I’m in crypto as well. NFTs are about as dumb a thing as I’ve ever heard of but honestly I think people just want a place to keep their money safe from inflation.
Which had me thinking about the micro loans last night and the problems if we were to invest like that in each other. (What @BrettfromOz mentioned above). As an investor you have to assume that the loans are high risk otherwise the banks would give the loan. And let’s be honest it’s nice to think everyone is trustworthy, but the facts don’t follow.
Iv didn’t realize I would not be loan worthy after I left my job. I have no debt but for my mortgage. High credit score, no late payments in site. And so after the covid I started looking into refinancing for a lower %. Nope. They wouldn’t do it. I didn’t make much my first year. But I got to know my bank guy pretty well and he seemed to be honest. He said it was my lack of steady income. Talked to other self employed and small biz owners and they said the same thing when the started. The banks want a sure thing and there’s probably not a "less-sure thing than going out on your own into business.
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Our area fits the criteria for KIVA lending but there has to be a local lender who is already making micro-businesses loans. I haven’t had the need, want, or time to visit loan officers at every business lending institution in Wichita to see who does. The couple of loan officers I have talked to said take a home equity loan or line of credit is all they offer, but no one starting a business should have to risk the roof over there head and not everyone starting a business owns their own home.
That’s a neat thing.
I personslly don’t want or need a loan. In fact its become a sort of goal to pay off my house as quickly as possible. I want independence from everything. I don’t want a employer telling me what to do, I don’t want a banker telling me. I dont want anyone leveraging me.
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Please answer the polls above if you plan to attend
Done… though I don’t actually have a preference and clicked Saturday but the Wednesday the other person picked is fine. You can’t change answers once you clicked them.
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There is a good way of doing this, I’d be more than happy to do a video meeting talking it through if there was interest. Micro loans as a whole traditionally have a better pay back rate than other avenues.
The smart move is stocks. Buy whenever everyone else is selling. Buy low, sell high. Never sell when everyone is panicking … buy then. Also never put more in stocks than you can afford to lose.
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You have until the end of the week to vote day of the week, time, and part of the month.
I only had 2 people respond to the survey the first part of the month, Saturday or Wednesday, 4-8 PM. Any other input?
I apologize for not getting this on the calendar should we start next month or in September?