I'm Bad

[aa06a47]

I have been thinking about buying 1 share of stock in Bank of America, Citigroup, Discover (Morgan Stanley), and JP Morgan (Chase).....I'd have to pick one a month because can't come up with all the money in one month.

Wouldn't it be funny for them to be sending me a dividend check after I BK about 150K on them. All of them combined would average a little over 3%...much better than the 0.1% my bank pays....geeze...I get a penny a month from them. LOL!!!

[fellowpoorman]

That would be great, you know the more I learn about this, the more I feel that filing a BR is not worth all the worry and stress we've been thru. Things have not been as hard as I thought they would be

[aa06a47]

It still stresses me out every now and then, especially since I'm doing 5 year prison sentence in the chapter 13 cell. I have a bit of savings though not enough for a big blow, which takes a little stress out of it.

[fellowpoorman]

I'm sure and hope you get thru it well, I did ch7 , and as bad as that was, I am starting to see that I was much too hard on myself about it, I had to do it , but now I see I am better off. I am sure you are too , which is what i meant, keep a smile

[CATCHMEIFYOUCAN]

I feel for the Ch13er's having started one from the beginning - OH the STRESS .. even when I converted to Ch7 .. OH the STRESS. But now that I'm discharged SHREWWW .. Ch13 is like being in prison on a "working permit," so I praise all the 13er's that actually make it .. but where/if there is a WAY - get yourself out!

Just my thoughts, CMIFYC

[FilingOnMyOwn]

Don't even bother with citibank. Although their dividend is nice, their stock price has been dead money for 7 years. Bank of America has a solid business, and JPM is even better with more room for expansion.

Discover has not gone public yet. You can't buy a share of discover. However they will be going public within the next year or so. As well as Visa. These will both be extremely hot ipo's such as mastercard was. Since they aren't the lenders themselves, all they do is collect commission on every penny spent when their cards are used.

[aa06a47]

Don't even bother with citibank. Although their dividend is nice, their stock price has been dead money for 7 years. Bank of America has a solid business, and JPM is even better with more room for expansion.

Discover has not gone public yet. You can't buy a share of discover. However they will be going public within the next year or so. As well as Visa. These will both be extremely hot ipo's such as mastercard was. Since they aren't the lenders themselves, all they do is collect commission on every penny spent when their cards are used.

I did some research and to get Discover now, I would have to buy Morgan Stanley who owns Discover. Also found to get Sam Club Card, I would have to buy GE....geeze, those guys are into everything.

Has anybody checked out Sharebuilder.com? You can invest a dollar amount each month, every week...whatever, and it cost 4 bucks a trade. That sounds cheap, but % of what I can invest it is a pretty high trading cost. I'm thinking of trying to save $100/month in some program like that which makes it harder to get to. I really find myself thinking of ways to spend the little savings I have and if it is harder to get to it might be a good way to keep me from spending it on something other than flat out emergencies.

FOMO, you sound pretty knowledgable of stocks...whats your take on something like that. Also, I wonder being in a Chapter 13 if it is allowed to invest in stocks. I have found no restrictions in being able to do it.....other than I guess if I make a crap load of money off it, I would give it to the trustee...which makes these financial stocks, good dividend, low risk of making a killing sound good.

[FilingOnMyOwn]

I have 5 brokerage accounts, and sharebuilder is one of the 2 that I never funded. The problem with sharebuilder is its kind of like an automatic investment plan, not a trading account. And if you're doing long term investing, you don't have to pay a dime to anyone, you can buy stock commission free straight from the company that you want to own.

I currently use Zecco for all my trading needs. Its $0 commission, up to 10 trades a day, up to 40 total per month. Additional trades are $3.50 each. But I don't even use all the free trades, so I've never been charged a commission.

I don't think you have to worry about your chapter 13 too much. My only concern is you don't want to raise any red flags that you have come into 'too much' money that they would want to take an interest in. The minimum to open a Zecco account is $2,500. Beyond that I'd want to keep your account under 10k at all times, which is the point that it automatically gets reported to the government. But 36-60 months of trading with 2,500$, you won't quadruple your money to 10k anyways, unless you're extremely lucky.

[aa06a47]

Thanks for the info....It will take awhile to get to 10K anyways, so that should not be a problem.