MoNkEyT88 Posted September 27, 2008 Share Posted September 27, 2008 In just ONE DAY! Check it out guys. It's UpDown.com, the online stock market game. In short, you play the market with you're 1mil starting cash. And if you beat the S&P500 consistently they will actually pay you real money, and it's free to use. Hopefully my big stocks don't take a dive. Anyway, I'm having fun researching and looking into stocks. Practice for playing the market for real. In which I've sold most of my stock, and put it in the bank which I'm using towards a house. Quote Link to comment Share on other sites More sharing options...
Challenger Posted September 27, 2008 Share Posted September 27, 2008 Honestly with a million dollars you wouldnt have to trade to make a living. Just put it in a long term account with interest. 4% is $40,000 a year. Quote Link to comment Share on other sites More sharing options...
woldson Posted September 27, 2008 Share Posted September 27, 2008 ^^^Yep. If I have a million even a 6% you can soooo retire. Just have to work through the frist year to acrue that intrest so you don't tap principle. Most of the USA's history reflects makeing 6% well deversified is dumb easy, just don't get greedy and put some of the intrest away for the bad year. Quote Link to comment Share on other sites More sharing options...
Michael Posted September 27, 2008 Share Posted September 27, 2008 I don't know guys, if I could have averaged 6% interest over the past decade, I would have be really happy! But keep in mind... you're paying about 35% tax on that interest. Will your after-tax returns keep up with inflation? So, if you have $1M, and want to keep that $1M after taxes and inflation, with a 4% annual rate of return, your available annual income is probably negative. And if you earn 6%, you're just above breaking even. Nevertheless, that is much, much better than the market has been doing for the past decade. Quote Link to comment Share on other sites More sharing options...
woldson Posted September 27, 2008 Share Posted September 27, 2008 Only if you figure in just recent. This is why I choose to look at it over all its time. Only way to be fair. Cap gains right now is like 15%. Not 35%. Quote Link to comment Share on other sites More sharing options...
HoustonZ Posted September 27, 2008 Share Posted September 27, 2008 I made a real $1050 in stocks on wednesday. Flipping FRE and DSL. Fun stuff! Quote Link to comment Share on other sites More sharing options...
woldson Posted September 27, 2008 Share Posted September 27, 2008 I'm holding out. Got a chunk and a date to engage the market. Buy low sell high. This is the lowest not seen for a generation or so. Quote Link to comment Share on other sites More sharing options...
MoNkEyT88 Posted September 28, 2008 Author Share Posted September 28, 2008 Cap gains right now is like 15%. Not 35%. Okay, I cashed out a fund and have to claim 17,000$ interest this year, I haven't talked to any finance agent yet, because taxes are so far off. Am I going to get hit with 35%. The difference from 15-35% is like an LS1 swap!. Quote Link to comment Share on other sites More sharing options...
Dragonfly Posted September 28, 2008 Share Posted September 28, 2008 Okay, I cashed out a fund and have to claim 17,000$ interest this year, I haven't talked to any finance agent yet, because taxes are so far off. Am I going to get hit with 35%. The difference from 15-35% is like an LS1 swap!. Is this still part of the game? I hope so, if not you need to do some more studying on stocks and taxes before you take a hard hit. Dragonfly Quote Link to comment Share on other sites More sharing options...
MoNkEyT88 Posted September 28, 2008 Author Share Posted September 28, 2008 Real money. And the only info I could find was that it will be 15%, because it's a Long-term Capital Gain Rate at 15%, short term is 25%. Quote Link to comment Share on other sites More sharing options...
Dragonfly Posted September 28, 2008 Share Posted September 28, 2008 I did a quick check and you are right, it was supposed to have changed back in 2008 but was extended to 2010, "it" being long term capitol gains (they would have gone to 20% if the 15% had not been extended). So with that you should be fine although IMHO you are selling off low by selling at this time. Dragonfly Quote Link to comment Share on other sites More sharing options...
woldson Posted September 28, 2008 Share Posted September 28, 2008 The idea is that you paid income tax when you earned the money. BTW SERIOUSLY you might consider re-investing 5-7k in a bit. Like a month or so just before the election. The time for investing is soo fat, if done reasonable the ls1 can wait for a while, besides it will take time to build that, so in the mean time let your money work for you. GEt a great investment broker that will divesify the money. Quote Link to comment Share on other sites More sharing options...
datsun40146 Posted September 29, 2008 Share Posted September 29, 2008 Well I just started the game. I am very heavily invested in coal and gas companies. I also have abour 100K worth of hasbro and apple since they were both so cheap. I'm waiting for everything to bounce back, playing the long term so to speak. Quote Link to comment Share on other sites More sharing options...
MoNkEyT88 Posted September 29, 2008 Author Share Posted September 29, 2008 yea, down 800$ now(currently @ 1,082,000$) looks like it will turn around this afternoon. Quote Link to comment Share on other sites More sharing options...
MoNkEyT88 Posted September 29, 2008 Author Share Posted September 29, 2008 wow, since last post, down 24,000$ Quote Link to comment Share on other sites More sharing options...
dsommer Posted September 29, 2008 Share Posted September 29, 2008 What did you think was going to happen today?????????????????? Quote Link to comment Share on other sites More sharing options...
cygnusx1 Posted October 1, 2008 Share Posted October 1, 2008 Thanks for the link to updown. I know very little about investing so this looks like a great way to ease into it. Quote Link to comment Share on other sites More sharing options...
SpeedRacer Posted October 8, 2008 Share Posted October 8, 2008 So MoNkEyT88, what do you have now? Quote Link to comment Share on other sites More sharing options...
cygnusx1 Posted October 9, 2008 Share Posted October 9, 2008 All I know is that I have been playing for a week and I am down about $120,000 but: 1) I bought A LOT of really low prices, even though they didn't bottom out yet they will come back. 2) It's not real money 3) If you want to know which stock will drop, ask me what I just bought. (there is some value to being able to consistently pick losers...I think.) if you want to add me to your friends list I am "fastZcars" at updown.com Quote Link to comment Share on other sites More sharing options...
MoNkEyT88 Posted October 9, 2008 Author Share Posted October 9, 2008 I'm down a lot.. Lost everything I gained, and then like 70,000$. Quote Link to comment Share on other sites More sharing options...
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