Post Your Wins

[QuarterMillionMan]

About 4% which is fine but I'm more concerned about the ability of the government to repay.

[disneysteve]

Ok thanks, I'll look into Vanguard when more of money gets freed up. I'll be cashing out $10,000 in government series I-bonds in 2024, I can't wait to free up that money.

What's the rate on the bonds? Why so anxious to cash them in? They grow tax-free until you redeem them which is nice and they're inflation-protected.

[QuarterMillionMan]

Ok thanks, I'll look into Vanguard when more of money gets freed up. I'll be cashing out $10,000 in government series I-bonds in 2024, I can't wait to free up that money.

[disneysteve]

You're good at math. Yes on 12/9/23, I had just transferred $110,000 into a new Capital One 360 online savings account in order to get the $1500 bonus after 90 days. CDs and treasuries need long maturity times (ie, 6 months or 1 year).

That’s true about CDs and bonds but you can buy them on the secondary market maturing pretty much any time. That’s also why I mentioned the Vanguard money market. That’s fully liquid just like Ally but pays 20% more interest. On 200K that’s an extra 2K in a year.

[QuarterMillionMan]

You're good at math. Yes on 12/9/23, I had just transferred $110,000 into a new Capital One 360 online savings account in order to get the $1500 bonus after 90 days. CDs and treasuries need long maturity times (ie, 6 months or 1 year).

[disneysteve]

QMM, if you earned $9,000 in your Ally account, that means you've had over $200,000 in that account. You could have earned a lot more with CDs or Treasuries or even just a brokerage money market. Vanguard is paying 5.3% which would have gotten you an extra $2,000 on that same balance. I've got an Ally account too but I just keep a modest amount in there with the rest in higher rate accounts.

[QuarterMillionMan]

[QuarterMillionMan]

Here in Los Angeles Disney Land is a major entertainment option and expense. 5 out of 7 of my subordinates have annual passes which must be $1500/year. I often overhear them talking or more like complaining about how expensive it is, lol. Disney adding more black out dates, etc. They go every weekend. Some don’t even have kids yet. I often wonder how much they spend but it makes them happy so more power to them.

[disneysteve]

Of course QMM, you game responsibly. But, what about everyone who doesn't?

What does that have to do with anything? The same could be said for any addictive behavior or substance. My wife and I are whiskey aficionados. We have a respectable collection of bourbon and rye, belong to a few whiskey lover groups, and regularly attend tastings and other events. We may drop $100 on a special bottle, occasionally more. We aren't alcoholics. We don't drink every day. We never drive drunk. The fact that alcohol addiction exists should have no bearing on our ability to enjoy the hobby. Just because there are gambling addicts doesn't mean the rest of us can't enjoy the occasional trip to the casino.

[disneysteve]

Like people who go to concerts and spends $200 a night,

Good luck spending $200 for a night going to a concert. I'm amazed by what concert tickets go for now. It isn't unusual for a ticket to a big name performer to be $500 or more. For a couple to go to dinner and a concert, with travel and parking and all, you can easily be talking close to $1,500.

[QuarterMillionMan]

Like everything in life the problem gamblers need to control their compulsions. Likewise the person in debt needs to stop spending and learn to save. Doing things in excess is not good.

[james.hendrickson]

Investing in stocks is great. Just as owning property. But as someone mentioned in another thread imagine the person who owned Enron stocks. Or the home-owner who bought a house in 2007 then in 2008 was deep under water and had to short sell for a huge loss. In everything in life I try to balance things out. When gambling I don't go full tilt or go degenerate gambler mode. Without this $4000 win as I mentioned above for 2023 I may have had a $4000 loss for the year. That was peanuts for me. That was discretionary money that I could afford to lose but didn't lose and made it back. It's entertainment for me with a chance to make money. Like people who go to concerts and spends $200 a night, or the gamer who buys video games, or the golfer, etc. I enjoy gambling along with the perks of free rooms, free shows, free meals, etc.

Of course QMM, you game responsibly. But, what about everyone who doesn't?

[QuarterMillionMan]

Investing in stocks is great. Just as owning property. But as someone mentioned in another thread imagine the person who owned Enron stocks. Or the home-owner who bought a house in 2007 then in 2008 was deep under water and had to short sell for a huge loss. In everything in life I try to balance things out. When gambling I don't go full tilt or go degenerate gambler mode. Without this $4000 win as I mentioned above for 2023 I may have had a $4000 loss for the year. That was peanuts for me. That was discretionary money that I could afford to lose but didn't lose and made it back. It's entertainment for me with a chance to make money. Like people who go to concerts and spends $200 a night, or the gamer who buys video games, or the golfer, etc. I enjoy gambling along with the perks of free rooms, free shows, free meals, etc.

[disneysteve]

QMM - casino have to pay out less than they take in, otherwise they won't say in business. Why even participate in that kind of situation? I mean I know why some people do it - its fun, and you get free drinks, pretty good food, and its social and you get to travel and the like.

But seriously man, if you want a taste for risk and the chances of making money, why not invest in individual stocks instead? You'd develop better skills, possible make a lot more and give yourself a better chance of making money in the long run.

You answered your own question. It’s fun and there are some perks along the way too. We don’t really gamble much anymore but we did for years. We considered it part of our entertainment budget. We’d drive to the casino, play for an hour or two, maybe get a “free” meal, walk around a bit, maybe watch the horse races depending on where we went, sometimes get a “free” gift, occasionally meet up with friends, get a “free” hotel room for the night, etc. We usually would spend less than if we drive into NYC to see a Broadway show.

We were still saving and investing plenty.

[james.hendrickson]

The casino will issue a win/loss statement for 2023. I am pretty sure I was a net loser prior to today's $4000 win to the tune of about that amount.

QMM - casino have to pay out less than they take in, otherwise they won't say in business. Why even participate in that kind of situation? I mean I know why some people do it - its fun, and you get free drinks, pretty good food, and its social and you get to travel and the like.

But seriously man, if you want a taste for risk and the chances of making money, why not invest in individual stocks instead? You'd develop better skills, possible make a lot more and give yourself a better chance of making money in the long run.