Using AOR money to buy stocks & mutual funds Archived From: Finance |
Does anyone here use AOR money to purchase stocks or mutual funds? I was just wondering because I decided to try this last week, and I'm already $400 in the hole.
Update (Apr 18) Sold two mutual funds today, securing a capital loss of $314
Sucks to be you.
AOR misuse will not be tolerated
RisingSun96815 said:Does anyone here use AOR money to purchase stocks or mutual funds? I was just wondering because I decided to try this last week, and I'm already $400 in the hole.
It's been done. You're learning the reason why not to do it.
Yes. No. Sometimes. Never.
This could be You
you do understand that that's $400 cash that you have to pay back, right?
RisingSun96815 said:Does anyone here use AOR money to purchase stocks or mutual funds? I was just wondering because I decided to try this last week, and I'm already $400 in the hole.
You should have waited until this week when the stock prices were lower.
Now is a really bad time to play the stock market with money you don't have.
scott1961 said:This could be YouFrom the thread:I am still a student at the moment. Last year I borrowed 30k from credit card companies and lost them all in the stock market. Trading stocks is the dumbest decision I have ever made and there is no way back. I will graduate this summer with a MA degree and probablly start working around August, but I have nothing to pay for my credit card balance now.
No, but since I count on my AOR interest to pretty much fund my Roth, I've been putting a lot more money in my "Play" brokerage accounts than I normally would. Shorting Country wide has been a pretty good move thus far.
let this be a perfect example of why you should only invest AOR money into FDIC insured high yield savings accounts and certificates of deposit.
It amazes me how even when people are getting free money... they decide to get greedy.
It's FREE MONEY people! Don't screw it up!
I invest my AOR money. It's not a big deal when you know what you're doing. But if you're the kind of a person who would have a heart attack if the market fluctuates against you for a moment I guess you have to keep all your money in CDs anyway.
richfish13 said:Now is a really bad time to play the stock market with money you don't have.
more accurately, it's always a bad time to risk money you need to liquidate in 6-12 months. doesn't matter that the money isn't yours.
lhendricks92 said:richfish13 said:Now is a really bad time to play the stock market with money you don't have.
more accurately, it's always a bad time to risk money you need to liquidate in 6-12 months. doesn't matter that the money isn't yours.
Very true, but right now is too way volatile and turbulent with all the recession fears.
RisingSun96815 said:Does anyone here use AOR money to purchase stocks or mutual funds?Not directly, but in an indirect sense, I guess I do. Let's say I have $100k in a brokerage account invested in stocks and I have $50k in AOR money in the bank earning a nice little return. Now let's say I decide to buy a $30k car. I will probably use the AOR money to buy the car, all the while telling myself that I need to sell $30k in stocks and move that money over to the AOR account, but that's the part of the plan that never seems to happen. So, you tell me, am I investing the AOR money (or am I just blowing AOR money on a new car 
)?
WalStMonky said:I invest my AOR money. It's not a big deal when you know what you're doing. But I'm assuming that your AOR money is not ALL you have to invest, and in a worst-case scenario you'll be able to cash out while you still have enough to cover the AOR balances.
Its one thing to invest $200k when $100k is AOR money (which demonstrates risk tollerance), another thing to invest $100k AOR money when you are banking on that $100k to repay AOR debt (which demonstrates stupidity).
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