Angelina Posted July 1, 2015 at 03:16 PM Report Posted July 1, 2015 at 03:16 PM Wow I have never owned $100,000 in my entire life. A bank balance ain't nothing but a number?
Kobo-Daishi Posted July 1, 2015 at 03:43 PM Report Posted July 1, 2015 at 03:43 PM Wow I have never owned $100,000 in my entire life. I think I read somewhere that you're 27. That's only 2 years older than Joshuawbb, the original poster. You're still young. It isn't too late to start getting investing. Read up on it. Just don't go for something silly like bitcoins. Kobo. 2
Johnny20270 Posted July 1, 2015 at 03:46 PM Report Posted July 1, 2015 at 03:46 PM Wow I have never owned $100,000 in my entire life. Unless he has a balance of $50m that is not investing, that is speculating and very different.
Kobo-Daishi Posted July 1, 2015 at 03:49 PM Report Posted July 1, 2015 at 03:49 PM Unless he has a balance of $50m that is not investing, that is speculating and very different. Ridiculous. Kobo.
Silent Posted July 1, 2015 at 07:17 PM Report Posted July 1, 2015 at 07:17 PM Anyone want to explain the difference between a money market mutual fund and a stock mutual fund? According to the article Angelina has linked to, Yu'e Bao is a money market fund. They are both mutual funds but invest in different things namely the money market respectively the stock market. The money market is short term debt, I think the official definition is up to one year maturity, but often the focus is much shorter from overnight to a couple of months. The stock market are shares (part ownership) in a company. Money market is very close to cash in that interest risk (changing value due to changing interest rates) is very low. Basically it's one step up the investment ladder from a savings account. Disclaimer: this is the simple explanation.
Lu Posted July 1, 2015 at 07:30 PM Report Posted July 1, 2015 at 07:30 PM In the Netherlands I'm pretty sure you can still take part in regular pension funds even if you are abroad and/or not working for a company that uses that pension fund. If you haven't yet, perhaps look into whether this is possible in the UK as well. I got worried around the time of the euro crisis in 2012/2013. The government was cutting all kinds of benefits left and right and my pension fund sent me a letter every year that they weren't indexing my pension. So I bought a house. I was lucky that I had the savings and the market was at its lowest point. If everything goes belly-up, at least I have a place to live, and if I have to eat my house before I get old-age benefits, at least I have a house I can eat. I'm very happy with my decision. It saves me loads of rent money. There are downsides, of course. If you're abroad, you need someone else to look after it. If you put in renters, they have to be the kind of people who don't start a weed plantation in your place, and who are kind enough to move out when you want to move in. If there is a disaster, or a terrorist attack, or an alien invasion, or some such, where your house is, you lose it. (On the other hand, banks can fail too.) It's good that you're looking into this already at 25, but I think you have plenty of time to get familiar with the various options before starting to save. 1
imron Posted July 2, 2015 at 02:31 AM Report Posted July 2, 2015 at 02:31 AM The only point I was making was about the nature of the currency and the way financial transactions are likely to be done: online. I don't think many people will disagree with you here, and in many countries this is largely the case anyway. Another distinction Imron made is important too. There is a difference between chosing the right currency when saving your salary and working with investment funds. That was not me.
Angelina Posted July 2, 2015 at 03:10 AM Report Posted July 2, 2015 at 03:10 AM Checked now, you were talking about the difference between Bitcoin mining and speculation.
Johnny20270 Posted July 2, 2015 at 05:25 AM Report Posted July 2, 2015 at 05:25 AM Ridiculous. Kobo. Seriously? Good luck turning up any of the top major investment bank or financial houses and saying that in an interview. In Europe USA you cannot even call it investing under current regulations. Sorry this is professional finance 101 and something we expect a graduate to know on day one. Lets agree to disagree as its a Chinese forum, not a financial one, but my advice to the OP given I have worked in the major investment banks including as a trader & structure on a trading floor for many years it, read up, if you think there is a quick win, its speculating (KOBO is simply wrong!). This is the very foundation of financial mathematics, and certainly not a pension strategy.
Kobo-Daishi Posted July 2, 2015 at 06:43 AM Report Posted July 2, 2015 at 06:43 AM The other day (2 days back) the Nasdaq index was down about 2.5% for the day. If you had $5 million in a Nasdaq tracked index fund, you would be down $125,000. How is that not investing, but, speculating? Why would you need $50 million? That's ridiculous. Kobo.
Angelina Posted July 2, 2015 at 06:55 AM Report Posted July 2, 2015 at 06:55 AM Don't worry Kobo, it's not like we will judge you because of your 5 million. You can lose of them one day.
Kobo-Daishi Posted July 2, 2015 at 07:27 AM Report Posted July 2, 2015 at 07:27 AM Don't worry Kobo, it's not like we will judge you because of your 5 million. You can lose of them one day. Actually, that was just an example. I won't say exactly how much I have, but, I don't have any debt and my house is paid off. I'll just say I don't lose any sleep over how the market goes. I probably started investing when I was about your age. Let's just say that I'm now more than twice your age. I have a broad mix of investments. Mostly stocks through mutual funds. Growth, value, large cap, small cap, a few sector funds (technology and health care), an international fund, a region fund (Asia/Pacific ex. Japan). But also, a short term bond fund and a money market fund. Money market funds are considered cash equivalents, but, I really consider my short term bond fund to be the same. A place where you park your money until a better investment presents itself. Very few individual stocks. I have a brokerage account that my brother largely handles for me that I jokingly call my "blind trust". A blind trust is what the president has. His money is handled by a broker and he doesn't see what he has because this is to prevent conflict of interest. So he can't influence his investments by legislation or policy. My brother's very into options. He's retired and spends his days in front a computer doing options trading. I call it a blind trust because I don't really know how options work and he seems to. It's a small amount. But that's speculating. It's also money that I wouldn't miss if I lost it all. Kobo.
roddy Posted July 2, 2015 at 10:11 AM Report Posted July 2, 2015 at 10:11 AM No longer relevant to the OP or to any aspect of China / Chinese. This dilutes and distracts from the purpose of the site. Closing, and knocking a few folk on the head with the (temporary) banning stick.
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