Bought a Masco product ...

[Vinny]

... since we all know how EXPENSIVE     a Masco spa is, I thought I'd let all you Masco people know I contributed to the Masco Corp! I went and bought a Delta Shower head. I wet tested a Moen but I liked the force of the water coming out of the Delta better!

It replaced my first Delta shower head that lasted only 6 years (I always questioned the quality of Masco  products) but for $19.99 at Home Depot I won't complain too much.

So Term, Chas and all you other Masco selling people I contributed my $0.02 to Masco (but hopefully this will last longer than 6 years).

If you want I can post pictures.

[Chas]

Thanks Vinny. We appreciate your support.

 8-)

[East_TX_Spa]

Masco sells spas ranging from around $3K up to around $11K.

I have seen more expensive spas from:
Artesian
Arctic
CalSpa
Dimension 1
Marquis
Sundance/Jacuzzi
Thermospa
Haven't Spas
Master
Coast
Vita
Coleman

I'd daresay that Masco continues to offer some of the highest quality, best value products in the industry.

Terminator

[Bonibelle]

So you say , I daresay it is not reflected in their stock performance! Masco is down $1.84 today..so Vinny...your shower head didn't help ME one bit!

[Vinny]

The CEO was on CNBC this morning. He was saying how 60% is new home construction and the other 40% is from home remodeling.

I guess HD got most of the profit on this purchase.

Boni, if your playing the market now may be the time to get out ... it's been 3 down days for the S&P. You don't want to get caught in a correction!

[Dr. Spa™ Ret.]

Would you mind defining "playing"?

[Vinny]

Would you mind defining "playing"?

Well, for me it would be buying a stock with hopes it'll go up in a short period of time. A day trader or ultra short term (week) investor is IMO a player vs someone who buys a stock with a longer horizon and weathers out the lows.

In a bull market almost all stocks will go up eventually but as the market turns bearish, not all stocks will keep going up for a little while until the trend brings them down as well.

I am a long term investor and just recently I started trading on a short term basis to see if I can make some extra money. I'll see how it goes.

Doc, do you have a definition of "playing" the market?

[Dr. Spa™ Ret.]

My definition personally is, buying than selling within a month. I was just asking as some people see anything to do with the market as "playing". I've never had the nerve to "play". but have a bit of long term stuff.

[Vinny]

Doc,

Since the middle of January I have been playing; using fundamental analysis and technical analysis, I'm trying my best.

So far I have made about $3000 by doing so and even at paying 28% taxes that's $2160. Not a lot of money if your looking at 1,000's of shares but I play around with 500 or 600 shares and buy 3 or 4 stocks at a time. Yes you can lose money (and I did) but as long as an Enron doesn't come around I shouldn't lose my shirt. If I find I suck at it I can always stop and whatever money I lost ... well I don't have an answer for that! :-/

It puts extra cash in my pocket, helps with some luxuries and gives me something to do instead of waiting for people to post here and on your board!  

Who knows, I just may make enough money to upgrade to one of them super deluxe hot tubs! 8-)

[Dr. Spa™ Ret.]

Keep in mind, day traders have a saying............. "I LOVE paying capitol gains taxes".

Paying taxes means you're making money.

I think you also write off up to $3k of losses a year with a 5 year carry over (check with your own account as I'm not totally sure on this)

[Bonibelle]

Way to go guys..you jinxed the market and now look what happened!
I needed to "harvest" some money and now it's gone ..guess I'll just have to wait for my tax refund  

[Chad]

I like CD's for my extra little bit of money that use to be in a Money Market Savings account.
The rate right now for a 1 year is close to 6%(guranteed).
I know it's not alot but I've never been into gambling. The majority of my extra earnings goes into my mortgage anyways, so I'm not tryin to make a ton of money. I just want it in a place where it's earning more than a Savings/Checking account.
My uncle is/was a stock market junkie.
At one point he had $500K movin in out. That's alot for someone in his shoes. He was up close to $200K until the crash a few years ago. That $500K turned to $150K practically overnight. He waited it out and is now a little over even and puts the majority of his money in CD's. He still plays around a little but nothing like he used too.

[Vinny]

Boni,

I jumped in yesterday when the market was up and didn't jump out, I'm down $1,300 in one stock and sold another at a $1,800 loss ... I didn't follow my own advice!

Chad,

If you sock your money away and don't do anything 6% is good. But in order for money to grow substancially, you need higher returns. I have mutual funds that have grown 45% in about 3 years and others that have gone up 14%.

A lot of people look at it as gambling and it can be if you don't do your homework. I lost $12,000 in Lucent buying it at about $15 and it going to $3.00 but in the same token I received about $8,000 in dividends that the loss will wipe out the taxes. I didn't do my homework with Lucent. I also didn't do my homework yesterday, I bought on a gut feeling - gambling - and lost in both stocks.

NOW is the time to get returns - the benfits of compounded interest will be tremendous by the time you turn 40 if you do the right thing ... of course you have to be comfortable and be able to sleep at night as well.

Vinny

[Chad]

I like mutual funds as well. When I was 13 I inherited a little over $14K when my mom died(life insurance and donations). That money sat untouched in a Kemper mutual fund for 7 years. It climbed to $23,xxx but I pulled it because it was starting to drop quite fast during that rough time the market had a few years back. I know....even my little ole mutual fund fell. That's what I used for the down payment on my house. $9K in 7 years ain't to shabby.  

[thearm]

I like mutual funds as well. When I was 13 I inherited a little over $14K when my mom died(life insurance and donations). That money sat untouched in a Kemper mutual fund for 7 years. It climbed to $23,xxx but I pulled it because it was starting to drop quite fast during that rough time the market had a few years back. I know....even my little ole mutual fund fell. That's what I used for the down payment on my house. $9K in 7 years ain't to shabby.  

That is pretty good Chad. But the stock market has averaged a bit over 10% per year over any 10 year period since it was started. IMO with you being only 24 the Stock Market would be the place to place your money for the long term. You don't have to buy individual stocks. Mutual funds are historally safer and yet will return a much higher return than 6% over the long term. As Vinny said at your age compound interest can be a real friend if your getting it and not paying it. If you don't want to expend the time or effort there are a lot of good Fianancial advisers that will be more than willing to help you out. But be careful as there are lots of bad ones that want to make them money and aren't so worried about yours. Ask friends for references and find one that doesn't work on commisions. If you do business with a credit union they usually have some people on staff that can help you invest and in my experience have treated me very good. Remember inflation cuts in to that 6% your getting so it only might be 3% real money after the adjustment for it. However it is good to see you at a tender age of 24 saving any money. More young people should be doing it as pensions and probably SSI are going to be history before you get to retirement age. Good luck, keep saving and happy tubbing!