Socialist hellhole California moves from 8th to 6th largest economy in the world, surpassing France

kmog33

kmog33

Well-Known Member
ThickStemz said:
Of course they have a different definition. Investing is a specific kind of saving.

Here is the saving pattern when you start out life. You accumulate enough cash through saving until one day you look up and realize that you've got enough liquid assets to cover any likely emergency and to cover your liabilities for a few months should anything happen. You ask yourself, would it be wiser to preserve this incoming wealth the same way, or might I have slightly different purposes for which I need to save now?

Savings and investing are two forms of the same behavior.
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Lol, you can go by whatever idiotic definition you choose. But savings are savings and investments are investments. They're two different things. One is taxed, the other is not. Investments are not savings. While you can invest your savings to try and make money. That exchange shifts your SAVINGS to INVESTMENTS, a completely different legal taxable section of you money. It also changes your savings into income as you cannot take it back out without paying income tax and capital Gaines on it.

If you had any investments, you would understand the difference.

It is hard to explain having money to those that don't. Most people(obviously) don't understand investments, because they do not make enough money to invest in anything, lol.


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kmog33

kmog33

Well-Known Member
They obviously have different definitions because they are obviously different(to most people) things.


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T

ThickStemz

Well-Known Member
kmog33 said:
Lol, you can go by whatever idiotic definition you choose. But savings are savings and investments are investments. They're two different things. One is taxed, the other is not. Investments are not savings. While you can invest your savings to try and make money. That exchange shifts your SAVINGS to INVESTMENTS, a completely different legal taxable section of you money. It also changes your savings into income as you cannot take it back out without paying income tax and capital Gaines on it.

If you had any investments, you would understand the difference.

It is hard to explain having money to those that don't. Most people(obviously) don't understand investments, because they do not make enough money to invest in anything, lol.


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http://www.investopedia.com/articles/younginvestors/10/what-is-an-investment.asp

I'm going to do more than just link a definition. Therein you'll find someone explaining all the forms of investing. What do you say the odds are that it lists savings? Banks use this money to make loans. Bank makes enough bad loans and bye bye savings. Again, does something change form becaus the government insures 200k of it? The process used to be so risky that the government had to insure it to get people to do it.

Looks like someone isn't as smart as they think. You were just bitching about not being able to afford a down payment on a home. Probably becuae you have just enough knowledge to be annoying.

If you truly understood how risk, reward, inflation and interest all worked together you wouldn't have a hard time understanding what both me and the financial world are talking about.
 
UncleBuck

UncleBuck

Well-Known Member
ThickStemz said:
What is the purpose of savings?

What is the purpose of investment?

They're both saving. The differences are only because of the addition of risk and time frame and goal.

Savings is simply setting aside wealth in the present for use later. Are you telling me neither a savings account, a 401k, stocks, nor government bonds will take money I have today and return it to me later with more than I put in? Are you telling me there is a difference because i can put one on a schedule and chart and know what I'm going to have, and when, but not another one?

It's like youre trying to tell me a concord and c-130 aren't both aeroplanes, because one can fly fast.
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i can put money into my retirement and avoid having it taxed.

can't do that with my savings account.

if you ever get a better job then subway, you'd know about this.
 
kmog33

kmog33

Well-Known Member
ThickStemz said:
http://www.investopedia.com/articles/younginvestors/10/what-is-an-investment.asp

I'm going to do more than just link a definition. Therein you'll find someone explaining all the forms of investing. What do you say the odds are that it lists savings? Banks use this money to make loans. Bank makes enough bad loans and bye bye savings. Again, does something change form becaus the government insures 200k of it? The process used to be so risky that the government had to insure it to get people to do it.

Looks like someone isn't as smart as they think. You were just bitching about not being able to afford a down payment on a home. Probably becuae you have just enough knowledge to be annoying.

If you truly understood how risk, reward, inflation and interest all worked together you wouldn't have a hard time understanding what both me and the financial world are talking about.
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No I spoke of the difference between having the money for a downpayment in savings vs. investments m(as they're two different things). While I do have the money for a downpayment for a house in my investments, I cannot sell any of it to use without paying income tax and capital Gaines on it. Whereas, if I had the same value in savings, I could use it without said taxes.

I don't think I'm that smart and i apologize for being wrong quite often, but I am definitely smarter than you. I also have enough money invested to understand how the system works. You obviously do not. You're the idiot that gets his house repossessed when he forgets he had to pay taxes on the stock he sold to put a downpayment on the house...

Oh wait....

You'd have to have investments to be that idiot.

What's below that...?


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kmog33

kmog33

Well-Known Member
Ps, I can afford the downpayment on the house regardless with taxes, I just would prefer not to pay 35-40% of what I sell to the govt. I'd rather move out of the state for 2 years and avoid the income tax on it.


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T

ThickStemz

Well-Known Member
kmog33 said:
No I spoke of the difference between having the money for a downpayment in savings vs. investments m(as they're two different things). While I do have the money for a downpayment for a house in my investments, I cannot sell any of it to use without paying income tax and capital Gaines on it. Whereas, if I had the same value in savings, I could use it without said taxes.

I don't think I'm that smart and i apologize for being wrong quite often, but I am definitely smarter than you. I also have enough money invested to understand how the system works. You obviously do not. You're the idiot that gets his house repossessed when he forgets he had to pay taxes on the stock he sold to put a downpayment on the house...

Oh wait....

You'd have to have investments to be that idiot.

What's below that...?


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Nonesense, if you had the value of stocks or other securities sufficient to buy your home youd have figured out by now that you can essentially swap them and not cash them out for the home.

If investing were something you were doing to have your home, youd have your home. Youre investing for retirement. What will you do then? Hopefully leave it alone. But should the need arise you can sell it or draw an income off of it.

You're truly a fool if you can't understand how investing, in any vehicle you like isn't a form of savings. People save money in all sorts of way that isn't a savings account at the local credit union.

People have bought land, precious metals, minerals or gyms, people have purchased assets... All serves the same purpose. It doesn't matter when it's taxed or at what rate. At the end of the day you're doing the same thing, setting aside wealth today for greater wealth tomorrow.
 
kmog33

kmog33

Well-Known Member
ttystikk said:
My point is that the truth of your words helps to explain the larger situation of wealth inequality in this country.
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I understand, sorry if that was a poor quote, lol. Its really sad, but it is a very real thing. I think I'm just generally around people that are in a similar educational level/success range so I have a hard time getting that some people really don't understand what and how having money works.

Kind of like how the lottery is referred to as "the poor tax".


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ttystikk

ttystikk

Well-Known Member
kmog33 said:
I understand, sorry if that was a poor quote, lol. Its really sad, but it is a very real thing. I think I'm just generally around people that are in a similar educational level/success range so I have a hard time getting that some people really don't understand what and how having money works.

Kind of like how the lottery is referred to as "the poor tax".
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It's as easy as it is wrong to laugh at those without basic financial skills. The truth is that it damages us all, because financially and economically illiterate people still work, vote and make decisions that affect the finances of many or all the rest of us.

We need to find some way to bridge these gaps between different groups of people. If we continue to separate ourselves by education, status, class, nevermind ethnicuty, religion or skin color, we will never be able to come together to demand that those who own all the chips be finally called to account.

A decent financial education is absolutely not something to take for granted or assume others can easily grasp. On the other hand, it's a lot more complicated than it really needs to be- the better to hide the loopholes, of course.
 
kmog33

kmog33

Well-Known Member
ThickStemz said:
Nonesense, if you had the value of stocks or other securities sufficient to buy your home youd have figured out by now that you can essentially swap them and not cash them out for the home.

If investing were something you were doing to have your home, youd have your home. Youre investing for retirement. What will you do then? Hopefully leave it alone. But should the need arise you can sell it or draw an income off of it.

You're truly a fool if you can't understand how investing, in any vehicle you like isn't a form of savings. People save money in all sorts of way that isn't a savings account at the local credit union.

People have bought land, precious metals, minerals or gyms, people have purchased assets... All serves the same purpose. It doesn't matter when it's taxed or at what rate. At the end of the day you're doing the same thing, setting aside wealth today for greater wealth tomorrow.
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Most of what you posted is flat out wrong.

Go find a situation where you can trade stocks for a house where the seller of the property won't make you pay the taxes on the money that stock is worth. It doesn't matter how investments are transferred, if at any point they are realized, they become taxable.

So if you traded stock for a house(this doesn't happen) and the person that sold you the house wanted to sell the stock to get actual money to use, they would have to pay taxes at that point on it. No one is going to sell you anything and then take a 30% hit on it. They may charge you an additional 30% in order to cover the taxes, but that totally negates the entire purpose.

Investing isn't setting aside money. It's putting money into risky(high or low) investments in order to make money. Sometimes this backfires. Savings is putting money that has already been taxed into non risk, non taxable accounts.

Investments=risk.
Savings=(essentially)no risk.


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kmog33

kmog33

Well-Known Member
Btw, I've looked into exactly what you are talking about and it doesn't happen the way you think.

It's a nice thought though until you do a little research and find out it's not possible.

I also have a personal accountant that confirms shit like that for me. So just I case im confused, I have someone with a real education in this exact subject to let me know how it actually works.


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kmog33

kmog33

Well-Known Member
kmog33

kmog33

Well-Known Member
So the government says you're wrong.

The bank says you're wrong.

My accountant says you're wrong.

Who thinks you're right?

Like, have you gotten anyone to take your side?


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kmog33

kmog33

Well-Known Member
ttystikk said:
It's as easy as it is wrong to laugh at those without basic financial skills. The truth is that it damages us all, because financially and economically illiterate people still work, vote and make decisions that affect the finances of many or all the rest of us.

We need to find some way to bridge these gaps between different groups of people. If we continue to separate ourselves by education, status, class, nevermind ethnicuty, religion or skin color, we will never be able to come together to demand that those who own all the chips be finally called to account.

A decent financial education is absolutely not something to take for granted or assume others can easily grasp. On the other hand, it's a lot more complicated than it really needs to be- the better to hide the loopholes, of course.
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I think another part of the problem is that there are those that, even when presented with vast amounts of evidence and/or experience, still deny and are essentially unable to be educated in such subjects.

Money is especially hard as for a very long time, the wealthy have intentionally misinformed the poor, which is obvious in subjects like this.



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Fogdog

Fogdog

Well-Known Member
kmog33 said:
Btw, I've looked into exactly what you are taking about and it doesn't happen the way you think.

It's a nice thought though until you do a little research and find out it's not possible.

I also have a personal accountant that confirms shit like that for me. So just I case im confused, I have someone with a real education in this exact subject to let me know how it actually works.


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If you continue to talk to Thick Stem, be ready to repeat your first line again and again. I have the guy on ignore but recognize the symptoms.
 
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