Friday, October 14, 2016

Sources of Money if you don't have money

Christmas is coming up!  Ask for money

A refinance if you own your own home

student loans if you are a student

Borrow money from your retirement if you have such an account. 


Of the above, I don't consider them risky.  Borrowing from retirement is just investing in something different.  I think you can do better than some far away money manager.  It's also about the same thing as refinancing.  I don't support owning a lot of equity in the home, because if you don't, you are better able to walk away if there is some kind of crash.

If you can get subsidized student loans at no interest, go for it.

Then, there are credit card checks.  After I was successful for a couple weeks, I did this.  It worked out very well.  You should be able to get a check with 0% APR for over a year, but you will have to pay 2-4% fee of the original amount. 

If you are doing credit card checks, you absolutely have to win (or declare bankruptcy, but then you won't get another chance this way).  Don't get lazy with your picks, because you have to be right.  Also don't be afraid to close a position at a loss, before it turns into a bigger loss. 


1 comment:

  1. no profit/loss statements yet? have you looked at mannarino's background? what that he has done would lead you to believe he is a successful investor?

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