Okay so I’m up $45,000 so far in my WTVI trade and the candlesticks are extremely large hitting BB’s and for the past couple of days its been straight upward movement. I’m expecting some type of pullback but I could be wrong. I thought to myself it doesn’t matter if I’m wrong and the stock would of made me a millionaire or if the stock drops to nothing and I regret not selling. So I thought to myself what is $45,000 worth to me? Well the biggest thing that came to my mind is that its one years worth of full-time income at my current rank in the USCG. With that said I immediately got out a dice and said “if it rolls even I’m holding it and if it rolls odd then I’m selling it”. It rolled a five and odd number. I was asking God subconsciously what should I do even though I knew I should sell it. I thought this is the first time I would put greed aside and conquer victory early instead of at the last minute. I feel like I’ve grown up and gone on to second grade with this trade. I ended up selling WTVI at $.047 and made +$38k within the 6 business days I held it. I feel great. I’m not going to regret if the the stock moves higher and higher. $38k to me is a years worth of income, can pay off my car, half of my last mortgage, or use it for a better opportunity down the road. I believe WTVI traded a bit lower, but I don’t even care. To tell you the truth I don’t even want to look up the stock symbol for at least a week so it won’t get to me.
I was actually down -$3200 bucks in an AAPL option trade gone bad which will all expire today worthless. I was told Feb through May are the hardest months to trade and its true. I think what I’m best at is technical analysis, but even that doesn’t work well during these choppy times. Since this trade worked out and I didn’t get over greedy on this 900% + trade I survive another day in the traders world. My account has reached close to my May 07′ goal of $48,000 on my way to $1 million.
I’m not worried about $1 million anymore. I feel so good about just getting out of this trade and paying off my new car possibly in less than 6 months of buying it for $24,000. That my friend is power. I’m putting aside around $10,000 just for taxes and I plan to leave only $2000 in my account to start trading again instead of a higher number just so I dont’ get greedy and buy really big positions that will make me lose quicker.
I feel triumph, victorious, the king of valentines day, and I feel I finally made a real good trade because I was very right about the charts, right buy in price, company hype and selling before actual news comes out, and most of all not being greedy and selling out early.
cheers to me!
On Yahoo! Finance I read this article on young people comparing their success to others. As you read through the finance article it talks about planning your success through various steps. Correct money management can make you feel like you are rich or have plenty. One piece of information I liked that it said was open multiple savings accounts to electronically deposit savings into each to track your goals for what you want – down payment on a new home, vacation, christmas presents, new car, long-term savings, emergency savings, ex.
It is never too late to save. Even my parents in their late 50’s started saving when I was young and we were always pretty broke, but just had enough to pay for everything living on small incomes.
It is easy to feel rich if you live under your income and you can enjoy simple things. If you don’t have to worry about money then you are rich. For me rich is having enough money to live on without having to work a full-time work week. So if I am to successfully trade in 1 day that can earn me a week’s income I feel pretty rich. Besides money just having friends call me to go out and play tennis, see a movie, or go fishing and having the free time to do it makes me feel pretty rich. Everyone has their own definition of rich. For most it’s having expensive luxury cars, a big house, and a big bank account. The millionaire is considered rich. You can be the poorest lowest incomed individual, but if you are really happy and you love your job (which is rare with most people working) then you are rich.
To help you on your planning to have success in money management:
1. Open seperate savings accounts and have portions of your check deposited into each on for each goal you want, so once the goal is reached you have the choice to enjoy that success.
2. If you want to excel your planning goals I suggest taking on a second part-time job if you don’t already have one. Use that extra money to put towards your goals such as paying off your house or saving for a down payment for a house.
3. If you are struggling with your finances and can’t seem to have any success with money management then you are probably spending too much or have to many luxuries. Consider turning off the cable Tv, turn off AC, use less Heat and where a coat in the house, and going out less so you can’t spend money. – Believe me I have the same problem. When my friends ask me to go out shopping or to buy food I end up spending more then I want to. It is so hard for me to just say “no” to myself. Saving more of your income isn’t easy. You really need enforcements and family to keep you on track. If you have no one to help keep you motivated then put more money into a deposit into a savings account so the money in your checking account is less so you have less to grab to spend. Also make sure you have NO ACCESS to your savings account so you can’t immediately grab cash from the savings account. Cut up your savings account checkcard. It will be the best decision you ever want to make if you are a predictable big consumer. This way you can’t touch that saved cash.
4. Eat less. Eat cheaper meals. It’s proven somewhere in some book that all you need to eat is as much that can fit into your hand. So in that theory we could all be eating less. Try to make more meals at home that are cheap. Ideas – the store brand mac and cheese. Those for 1 box serves around 4 people and costs around $.90 plus 1 cup of milk. The Hamburger Helper meals run around $2 plus 1 lb meat which costs around $6 is still a cheap meal that can serve around 4 people.
5. Try to drive less if you own a gas guzzling car. If you can carpool do it. Gas has been lowered recently, but you can still save. If you live close to work try to walk or ride a bike a couple of days out of the week. You can get some exercise your body needs and enjoy the nature or industrial city view.
6. I’d say lastly when managing your money have a big dream goal in mind always. A big success picture you can dream about to keep your mind thinking of saving daily. I think about making and saving my money every day. It is always on my mind because I really want to meet my goals even though I screw up big sometimes and spend more money I just stuff I really don’t need and end up not using enough to have make it worth it buying the items. Really make sure you need it before you buy it. Can you wait a week? See how you feel then. Impulse buying gets to the best of us. If you have a big goal then you are going to have to start making big commitments to meet your goals. A lot of my friends think I’m cheap and I don’t like to have any fun. The fact is I am having fun saving my money and yes I might miss out on some money costing activities now but I feel when I am in my 30’s and possibly have the choice to do whatever I want and not have to work what I did in my 20’s will have paid off and I will be compared to be ultra-successful to my friends that live more crazy, money spending, luxury life styles now.
Okay so something I didn’t mention about one of my roommates. Well around late August I put up 2 Ads on craigslist.org and myspace.com for a person to roommate with me. I was offering to split my room, my bed, my closet, and my desk for $250/Month and $300/Month if I was absent on patrol with the USCG.
At first what seemed like a brilliant money saving idea slowly turned into one of my worst nightmares as a dude like me could ever get himself into. I received some replies mostly SPAM from europe students then 2 real ones. Out of the two the current person seemed most likely to get along with. I shall keep the female unnamed. She seemed pretty real and fun. I talked to her on the phone twice. I mean this was pretty weird to begin with. A chick and a dude that have never met sleeping on the same bed together, but I was like I don’t care because that’s an extra $250 I can save which is almost 10% of my take home pay after paying Uncle Sam. I’m sure you are thinking by now this dude is going to get into deep shit, which I totally did.
So I pick her up at the airport because she came from the northern east coast and wanted to vacation in Hawaii and maybe get a job and stay. I was upfront with her about how the conditions were going to be. My place isn’t pimpin as the call it these days. To me I feel its not a bad place, but if I would knew more about this chick I definitely would of not of accepted her as my roommate. So back to the airport scene. This was funny. I’m there on time and we meet. A little strange but very new you could say. I already get the vibe off her she thinks I’m kind of creepy, but this is okay because I’d say that is natural with most women I start to have a conversation with. When all I can do is talk about money and stocks it kind of bores women resulting in singleness.
I take her on a drive and we walk in Waikiki to work on getting to know each other before I take her back to the 3rd world country crib because that is what it is. =) She seems nice, very smilely, attractive, well dressed, and a bit not so smart. I’m sure she is smart, but if you talked to her she would come off as a big ditz. I’m like whatever as long as she has the money I can invest in more stock options.
We get back to my place and she sleeps on her side and I sleep on my side of the bed. A big interesting moment I’d say for a big geek like me that hasn’t been with a woman for a long time and I’m not talking months. 😉 I guess I really did not think this part through in my big brilliant idea. All I think about is saving money, trading stocks, work, and going surfing; dating women and relationships don’t play a big part in my daily life since I’ve been so goal oriented. I figured sharing it with a female keeping it platonic would be pretty heterosexual thing to do. If I had a bunk bed or two seperate beds then it would of not mattered since I sleep in a berthing area with 16 guys on the ship. I didn’t think of any sexual interests in my plan. In short, I liked her at least very attractively. I believe I already knew the first day I was a moron to get a hot chick to move in with me. From her pictures she didn’t seem very attractive. Being attractive wasn’t the main issue to get a roommate. Just someone that could fit on the bed with me and still have space between us and staying clean would be nice. In person I was sexually desiring her (big problem #1). I didn’t want to buy her anything or evolve around her, but I knew we weren’t going to be roommates forever. So I thought why not make a move. I did make a move and well I was wrong about that. Things got weird and I was flushed down the toilet. I accepted my actions taken. I figured if I never tried to make a move and she started dating other guys then I’d regret it the rest of my life. I’m very shy, but I felt I got to get to know her enough to take the fall if it happened. I’m glad I tried. My confidence level went up even though I am still kissless and dateless, but hey I got my bro’s right? Right (sigh). 😦 Trust is something later that did not hold through…
So it has been almost 2 months now. She is moving out. For the first month I believe it was chill. All the roomies would hangout with my friends and we all got along pretty fine. There were some episodes of wackness, but we made through them. Recently she has gone a-wall herself because my drunken friends leaked out bad rumor info and it got to her and lets just say shes pissed and thinks I’m some big creepy punk now. I took her bitching and quietly took it with no fighting back or arguing. I’m a cool smooth dude and I will obtain my status. I let her say what she wanted to say and said, “Okay”. During this time period I have to admit our relationship as friends or should I say aquiantances was getting sour and it was opening my eyes more that she was just a bitchy complainy 12 year old girl (shes 20) and that she sounded fake and is just a big boring fake. I am not putting this sterotype on women, just her. None of my friends liked her and my friends are welcoming people so that kind of opened my infactuated eyes a bit. So now I’m like yeah she might have a hot bod, but shes just a big bore. Lets just say she loves to complain and call people “stupid” very much so. It is very annoying, mean, and stupid on her own part. She might think its cute, but believe me its not. I’m glad I can see through her negative intentions.
I’ve met some other girls during that time also and it made me realize how much she isn’t worth taking out to dinner. Theres women I meet and really want to take them out, they are just usually already in relationships. For the most part I believe if you are a great gal and work and getting men to love you then you are going to have a man. Most women I meet that are single are single for a reason. My reason for being single is because I want to be single. It’s cheaper and being with a woman makes me spend much more money. Hey if you meet a girl that likes free outdoor activities don’t loose her! It’s rare.
So now 2 months later into my big plan I will soon go on patrol and my room is empty. What? What do you think I’m going to do? Oh you know it! Repost an another Ad to sublet my room for a couple of months until I come back for around $350. Every bit of money helps I think. As long as I don’t have to personally room with anybody I’m still going to do it.
I also plan on moving out and getting my own studio or 1 bedroom place with maybe 1 roommate that lives exactly like I do if I can find one. Or room with people that have professional 7am-4pm type jobs, and goto sleep during the weekdays by 11pm. If you want to party during the weekends fine; just let me wake up with energy during the weekdays. I admit to you and everyone I like my sleep! I dream a lot and its fascinating being in your own dream world.
So I learned my lesson. If you need the money and you are going to split your bed with a female #1 make sure shes ugly (no attractiveness), #2 sign a contract on the room to keep the person from moving, #3 make sure the person is smart and not so barbiesh.
Well guys and gals. good night. -P
GAO Chief Warns Economic Disaster Looms
Saturday October 28, 9:32 pm ET
By Matt Crenson, AP National Writer
I came across this news article about a young family saving money after college and thought it would be really useful and interesting. You might even get some insight in your own home to help you become a millionaire.
CNN Money Online Article (Click Here) – Millionaires in the Making: The Johnsons
I received this news article from a co-worker of mine and thought it was very significant because its content lines right up with my opinions on consumer spending and saving.
Basically a person with a smaller income can still save more then a person with a larger income just because they spend less and save more. Read it for yoursefl.
CNNMoney.com News: “What works: Your worst enemy…overspending”
By: Penelope Wang
In my own life I can see this with my friends earning more then me, but they want to spend and buy a sports car, new furniture, and have their own place instead of sharing. Just by owning your car with no payment you are saving $100-500, sharing as a roommate instead of having your own place saves your $300-1000, and buying or getting used furniture could save your hundreds if not a couple thousands. I know its personal choice, luxury, and enjoyment. Can’t you have just a good time driving a regular car, or sitting on a used piece of furniture. Having a bran new furniture set doesn’t make it come alive and talk to you does it? I don’t think so. Sure, comfort, you want it but you still can have it being more on a budget and finding a reasonable simular piece of furniture cheaper would help you save in the long run. As with expensive cars comes higher insurance just another thing to think about when spending your paycheck.
In the article stated above they are earning a sweet income, but if with a $20,000 to $40,000 yearly income you can save just as much.
I factor variables like (for males and females):
1. Do you have a boyfriend, girlfriend, or are you married?
2. Do you own or do you rent or which is cheaper?
3. Do you own your car, leased, or have a loan on it? What’s the insurance?
4. Do you eat out a lot, binge drinkers, or like to go out a lot on the weekends?
5. Do you play sports? Because most sports are free.
6. Do you have credit cards and how much is on them?
The above questions can help you budget your money better and plan for retirement. Yes, people change, you get married, you have babies, and now you have a hospital bills because you don’t have health insurance. I understand that, but if right now you are young, healthy, and able to work then now is the time to earn and save the most you will ever be able to.
Think about how much you spend in your current lifestyle. If you can makes changes you’ll be saving probably 25-50% of your paycheck and be blown away when you see your savings account start stacking up like gold inventory as in the Federal Reserve in NYC, NY.
In the military just as in the corporate world we are basically paid twice a month. The 1st and the 15th. As a previous pizza delivery driver those days were the best to make money on. Some drivers would just only work on those days because tips are better because people are paid. Now I am going to talk about saving your hard earning pay day money. Creating some type of budget if it be in your head or in a planner book. You need to know what you can and can not spend because if you don’t how much free money you can have to spend you will end up with nothing left to save until your next check. Many people live paycheck to paycheck. It has even happened to me when I was very young. At a certain point I just understood the meaning of money and the bigger vision of keeping more of it would get me ahead in the future. Try to save at least 25% of your income. Currently I earn around $3000/m after taxes. Not a lot for living in Hawaii, but enough to be about to save at least 35% or $1000/m to invest with. My ideal thinking is to invest everything I can into stock market options. At some point I am going to be very right. I have been actively studying the stock market for over 10 years and just recently stock options for the past 2 years. I’ve learned a lot and I’m starting to trade smarter from doing mistakes I’ve already been taught not to do. I can’t say I am much of a rebel, but everyone at some point is a child and you are going to get spanked hard by one play or another to teach you a big lesson. Sometimes loosing so much money in the market can be a very huge motivating push that can help you go from rags to riches.
Now back to pay day. If you are going to be better off the next month you need to have it in the bank. Call it saving for an emergency or cushion money or even money you are willing to give up for a bigger vision of your future. Yes, I have lost money in the market. I’m working on making my losses small and my profits larger. For every person that is loosing money there is someone or some investment firm making it and I want to become that person that profits. I know what you are thinking. No way I want to loose money in the stock market and you are right. You need to study and have conviction about when you trade know absolutely your trade is going to work. If you don’t feel the stock market is your veichle for future cash flow then consider saving around $5000 and buying a condo or small house (getting 100% loan financed only paying closing costs). I bought a small home and receive $725/m rental income from it with a $653 mortgage. Not much rental income but owning it pays off HUGE with my yearly taxes receiving more paid out money and I can say I own something.
I hear many people say they want to take some money from their paycheck and invest it in bank deposits and bonds. Personally I just don’t think you make enough for your money just sitting there, but if you don’t believe in a little more risk creates a much bigger return then do it. I just hope I can motivate a person to save money. Everybody just seems to spend it all then they think I’m rich because I don’t spend mine. It’s choice, you’ve got it and so do I so use it and think long-term with a short-term money management style to create more choices for you and your family long-term.
Here’s a story of my parents. I remember as a child listening to WHRO 90.3’s 5 P.M. wall street radio broadcast of the Dow Jones Industrial Averages and Nasdaq Monday through Friday. My parents would invest $50 a month into 1 local company every month and did this for years. 12 years later with around $8,000 saved from buying 1 to 2 stocks to equal $50/m now they have the choice to help them buy their dream home, a new car, help pay for college, use for medical, or just keep investing. This is the power of saving and investing even as little as $50/month. My parents never made much money probably together less than $30,000 a year having 4 children. We lived in a small town-home, ate crockpot soups, rice, and simple meals rarely getting fastfood or deliveried pizzas and really never going out to a resturant. We sacrificed a lot of luxuries, but I feel as a family we were happy. Christmas was never expensive because we always found it fun to buy a million gifts from the dollar store. Sure it sounds ghetto? It isn’t. My parents made an attempt to buy us each at least one nice gift whether it be some new clothes, a bike, or something we needed not necessarly something we wanted.
Remember a small sacrifice to start saving your money can pay off big when you need it most so start now.
My first blog inspired by other financial bloggers aimed to help individuals learn how to increase their goals to a faster retirement.
Hi. I’m Paul Meyer and will be writing this blog under the name Finance Ninja. I thought up the name fighting between Money Kung Fu and my cyberspace nerd name elektrowhiteboy. I’m an ordinary big nerd. I think up the craziest things to say, do, and help people with. I am great at saving and creating ways to make money. So I thought Finance Ninja was the best general name for this blog I’m going to pour my heart and soul into. Unlike other financial wisdom bloggers I am going to go down other dark roads to help you learn more about the power of money. Money can help you or destroy you, and you really need to choose right now in your life what it will be.
I am currently in the United States Coast Guard serving a 4 year term with around 3 years and two months left at this point. I’m very confident in my decision in join the USCG to save money, surf more waves, and live in a fresh new place. To make a comment on that you can move anywhere, but you will always be the same person inside so lets find out really who you are and help you manage your money more efficiently.
My name is Paul. I have an addiction and it is saving money.