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Mom Confessions Mom Confessions

Investing... the real deal. ;)

Posted by on Jan. 11, 2013 at 8:33 PM
  • 12 Replies
1 mom liked this

Dammit... I just realized this is longer than I said it would be. SO sorry ladies! Read it , don't read it. Either  way, Happy weekend! :)

So, instead of responding to this post I decided to make a spin off. I know many people hate that but my intention and message is quite different.... I am also an investor so I understand what the person who posted this was saying:

http://www.cafemom.com/group/115189/forums/read/17892850/Why_spend_your_tax_return_instead_of_investing_it?highlight=217470697#post217470697

However, I see it a bit differently. I'll summarize since hers was quite long...

I turned $50 into $23,000 by trading penny stocks. I had researched this stock for months before buying. I was very very skeptical but my sons fathers sister is a Rich Dad Advisor and was basically holding my hand through the whole thing. She's amazing! I also read the book "Rich Woman" by Kim Kiyosaki (she made me do it!! lol).... and have read it about 5 times since then!

Long story short... I bought 625 shares at $0.08 per share. That $50 was very hard to part with since I was already struggling financially and was a financial mess yet I still didn't qualify for financial assistance like food stamps, WIC, etc... Fast forward to several months later. I had actually forgotten I bought this stock. One day I decided to check and it was at $21.26 per share so I left it there. I don't know why, intuition said so... lol After a couple more months, I ended up sellling the stock for $36.92 per share which is about $23,000. That was my FIRST experience that took about 8 months I think. Now, since then I have bought much more and sold much more. The most I've sold a stock for is $38,000. I keep buying and selling when it works for me. Penny stocks work when you take the time to do your research and follow your gut!!

I'm a single mom and when I bought my house for $310,000 in 2012 I was able to put down $180,000. My credit is horrible even now. I'm working on it and am very close. I had $110,000 in medical debt from a serious medical issue. That down payment came from penny stocks. The bank loved me for that. I also make a double house payment every month. How much do I make at my current job? $14 per hour @ 40 hours per week. I support my son and my 13 year old sister by working full time and trading stocks. Here are some photos of my house from Christmas here and here. No, I'm not showing off. I just want others to see it. I'd rather educate by showing what I have than show off. If you knew me in real life, you'd know that. :) I'm actually very humble and just want our economy to get better and for our kids to have a great future without this economy downturn and fiscal cliff BS. You know?

So, my point is... although she has a point that investing your money and making it work for you is better than wasting it on stuff you can buy after you earn even more investing, I think the way she delivered the message was quite harsh and possibly unprofessional.

On a side note: I have noticed several people (on government assistance or not) make crazy purchases when they receive their tax refund yet they're struggling financially. This doesn't "piss me off." Instead it saddens me and makes me just want to help them learn better ways of managing money. I do hope that those who are planning to make large purchases but are struggling realize it's best to pay off debt and invest where you can because in the long run, you will be MUCH happier. I love being able to answer my phone from an unknown number and not wondering if it's a bill collector about to chew me out and make me feel like a low life!!

Whatever you spend your tax refund on, I hope it's the best decision for YOUR family. <3

Dammit... I just realized this is longer than I said it would be. SO sorry ladies! Happy weekend!

by on Jan. 11, 2013 at 8:33 PM
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Replies (1-10):
Ali5683
by Ruby Member on Jan. 11, 2013 at 8:42 PM

BUMP!

lmscm
by Bronze Member on Jan. 11, 2013 at 8:59 PM
1 mom liked this
Very interesting. I am now going to start research on penny stock.
Ali5683
by Ruby Member on Jan. 11, 2013 at 9:45 PM

BUMP!

Anonymous
by Anonymous 1 on Jan. 11, 2013 at 9:47 PM

So the name of that stock? And how you managed to buy it without paying ANY commission?

Ali5683
by Ruby Member on Jan. 11, 2013 at 10:06 PM
1 mom liked this

No offense but I would be an idiot to reveal my secrets on a public forum that is not investing related. I will not tell anyone what stock it was or what "secrets" will help unless I feel someone is serious. Even then, I'd refer that person to a specific place to get those secrets and be open to coaching on a very limited basis. I'm not in a position to hold someones hand nor am I interested. Sorry....

I paid ETrade a fee since my trial free membership had expired at the time. It was a small percentage. I don't remember what it was. There are fees when you use ETrade, Ameriprise, etc. It's not FREE but it's not a big fee at all. It's different for everyone and for every stock that is traded.

Quoting Anonymous:

So the name of that stock? And how you managed to buy it without paying ANY commission?


Anonymous
by Anonymous 1 on Jan. 11, 2013 at 10:10 PM


Quoting Ali5683:

No offense but I would be an idiot to reveal my secrets on a public forum that is not investing related. I will not tell anyone what stock it was or what "secrets" will help unless I feel someone is serious. Even then, I'd refer that person to a specific place to get those secrets and be open to coaching on a very limited basis. I'm not in a position to hold someones hand nor am I interested. Sorry....

I paid ETrade a fee since my trial free membership had expired at the time. It was a small percentage. I don't remember what it was. There are fees when you use ETrade, Ameriprise, etc. It's not FREE but it's not a big fee at all. It's different for everyone and for every stock that is traded.

Quoting Anonymous:

So the name of that stock? And how you managed to buy it without paying ANY commission?


he stock was .08 cents YEARS ago. It went up -so why would it be a secret?  I bought 100 shares of APCC for $500 in the 80's and sold it for $43,000.
You could go and look that up. Because I can verify what I say.  That stock is no longer .08 cents-so why would it be a secret? I could get my broker to look it up. If it exists. He has the programs.... 

Telling the name of a stock with an increase in the thousands isn't giving anything up-since YOU SOLD the stock and no longer have an interest in it.

Fullmoon_Goddes
by Bronze Member on Jan. 11, 2013 at 10:12 PM
That is the one thing I wish my parents talked to me about...stocks and investing.
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MoMofTWOkiddos
by Cindy on Jan. 11, 2013 at 10:12 PM
Interesting!! I already buy/trade Wal-Mart stock but after reading this....I'm going to research penny stocks!

Thanks for the tips & encouragement :)
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eyeheartsin
by Gold Member on Jan. 11, 2013 at 10:13 PM
Thanks for sharing! Dh's grandpa did stocks too and we've always been interested in it but don't even know where to start.
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elephantmamaof2
by Ruby Member on Jan. 11, 2013 at 10:15 PM

Thank you for this! I'm a very big "rich dad" fan, can't wait to read "rich woman". Trading stocks is something my husband and I have been very interested in, but haven't really known where to start! Going to the bookstore tomorrow! Thanks again! Btw, any good websites to check out for more info?

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