Sunday, May 26, 2013

Strictly for Da Guys

Greetings gentlemen. 

The ole Captain needs your help.

I need all the guys in the Cappysphere to send me what they would like to know in terms of personal financial and economics advice or wisdom.  This is going to lay the foundation for my next project and though I have a pretty good idea of the topics I'm going to cover, I want to make sure I leave no major or significant topic unaddressed.  Things like housing, budgeting, financial planning, etc, anything in the realm of personal finance that would be of interest, benefit or curiosity to you, please list them in the comment section below.

Also, if you would be so kind, forward this to any other bloggers or readers who may be charitable enough to link back or provide some topics/ideas as well.

Many thanks,

Cpt.

47 comments:

Anonymous said...

Should I buy a condo (can't afford a house in the market where I'm at) or continue to rent?

Should I put the extra 2k I have in an IRA or just blow it on beer and strippers?

Anonymous said...

rent for sure the smallest space you're comfortable in and put the $2k and a handgun + 200 rounds of ammo in a "go bag". Keep your ride ready. BTW, would those strippers be male or female?

Moishe said...

What is your opinion of those who ridicule the Austrian School of Economics and mock economics in general as a non-science and economists as frauds?

I'm speaking specifically of the "American Monetary Institute", which is run by a fellow names Stephen Zarlenga.

His theory is that all banks should be centralized because historically, government-owned banks have been far less corrupt than private banks.

That's pretty much the gist of his book "The Lost Science of Money". He brings some pretty compelling historical data, albeit tinged with a subtle distaste for Jews, but to also be fair, criticizes the mystery Eastern religions and Christian cult denominations for how they manipulated currencies.

Mr Zarlenga has openly admitted in interviews that he is a proponent of socialism, but since you're a pretty smart guy, I would like to get your take on his book since his idea seem to be gathering momentum specifically among Raegan-Democrat baby boomer types.

Please post a reply if you would like me to post a link to his book. Be warned, it is over 1000 pages long, but it is an interesting read nonetheless.

Anonymous said...

Captain, my Captain

I'm from a backass European country, and I'm supposed to go on a high-paying contract in China soon. Am I living the American dream (only in China?) What should I do with wealth I'm about to accrue? Did I circumvent the Decline (even though I'm enjoying it?)

njartist said...

Very well.
What are the internal steps of those who desire to start their own business?
I do not mean developing an idea for a business, filing paperwork, and assembling funds and backing; I mean the simple mental step like stepping across a brook: a father takes his young son on a hike for the first time; as they walk in the woods, they come upon a running brook and must cross in order to continue: for the father it is a but a step, but the son holds back unsure of his abiity to step across though it is within the length of his longest stride. Scenario one: the father steps across the brook and the son sees and follows; a spiritual inheritance is passed to the son. Scenario two, the father passes over and then turns and guides the fearful son to take the step: through trust, the boy makes his stride, plants his foot on the opposite side sure that his father has shown him sure footing and brings his other foot forward: the son has been taught. A son sees his father starting and owning a business and assumes he to has the ability to start his own business: a spiritual inheritance; a man never shown by his father does not have that assumption: he does not understand the mental movement that is required to begin the stride that will take him across the brook; nor does he internally trust himself to find sure footing on hte opposite bank to plant his foot and bring the other forward.

FSK said...

Some of my favorite subjects:

http://www.realfreemarket.org/blog/2013/01/11/gold-outperformed-the-sp-500-1995-2012/

http://www.realfreemarket.org/blog/2012/08/01/real-gdp-is-crashing-2000-2011/

[I'm about to make the 2012 version.]

Anonymous said...

I think a section on insurance would be great. You could do a cost/benefit analysis of high vs low deductibles and comprehensive vs liability only. In the realm of health insurance, complete coverage vs catastrophic coverage only.

Student001 said...

I don't who said this, but:

"What you measure about your habits will tend to improve. Corollary: Be careful which metrics you choose."

I've found this applies to budgets as well as gym.

Also, substitute goods often make you equally as happy at a much lower price. I would give examples, but Your Mileage May Vary means that that would tend to cause arguments over the examples themselves.

cdw said...

You need to advise men on the inheritance laws in regards to co-mingling of inheritance during a marriage, or keeping it separate, and separate from the marital assets.

retrophoebia said...

I haven't yet read Enjoy the Decline, but:

1) Ways to hedge inflation and/or otherwise store value. Ammo, guns, booze, Canadian dollars, or whatever... what are considerations in terms of liquidity and risk mitigation.

2) Anonymous above mentioned housing, which is complex--but how about something on mortgage structuring? Even recommended resources would be useful.

3) There's been a recent rise in demand-based pricing mechanisms. For example, my apartment no longer has fixed rents for like units--it has a computer program that dynamically prices based on occupancy rates (higher rents at high occupancy, lower at lower--a great thing for the property, a pain in the ass for me). Where else can we see and use this, and how to take advantage of it?

4) How to price your free time or effort. For example, if I have a salaried job at X hrs work/week, and I want to give lessons in something on my off days, what do I charge?

5) Best value-added local education programs (e.g. if I have weekends and want to build some good personal value, what do you see as trends / industries to get smart in, and in what skills?)

That's about it for now. Keep up the good work.

Dominic said...

A good guide to buying physical gold, silver, or other precious metals.

Reluctant Paladin said...

The Paladin's list:
1. All about rent/renting or otherwise finding a place to live.
2. Primer on school loans. Do's/Don'ts
3. Insurance for dummies.

Anonymous said...

How do I know you're not a robot?

Stryker said...

I would like to hear your ideas on wealth preservation and creation in the coming collapse

The Shadowed Knight said...

How about a primer on the economic aspects of expatriation for those interested in fleeing this shithole? Compare several other nations for financial viability and stability, financial and tax implication of overseas living, etc. Get with some of the other androsphere bloggers that have travelled the globe, like Roosh and Danny, and get their input as well. Anyone else think that this has promise?

The Shadowed Knight

Alex said...

In light of impending haircuts / confiscations (I live in the EU, Germany to be precise) and considering that pretty much everything is overvalued right now:
Barring precious metals, farmland and real estate, what are my options?
(size of investment: 10,000-20,000 EUR)

Roberto Severino said...

Hey Captain! How about a primer on maintaining good credit, even when you're not earning over 80 grand a year and without ever resorting to using credit cards to do it? Would credit cards be a good idea let's say 15-20 years down the line if one actually has the income and savings to be able to pay for them?

Maybe something about what kinds of insurance that every man needs to actually spend money on, like health and car insurance and what companies to really look at.

Anonymous said...

What do you think of the book Rich Dad, Poor Dad by Robert Kiyosaki? Is his advice any good?

Anonymous said...

If IRAs are in danger of confiscation by the government, how does one set aside assets for emergencies, retirement, and so forth? In a world where people will work as unpaid slave interns, how do I give my children a start in life without spoiling them?

ProdigalSon said...

Things the Prodigal Son would like to see:
- Living comfortably on as little as possible.
- Best way to store excess wealth (hard goods, liquid assets, what?)
- Most important skills and knowledge that one should accrue at a young age (mechanical knowledge, math, what else?)

Coolstud said...

How to buy a good used car and how to live cheap without taxes if possible

Anonymous said...

If Sinatra was so great, why is he dead?

Eddie Willers said...

Hey Cap! Sounds like a good idea...one I could have used 15 years ago, when I finally had sufficient disposable income to begin thinking about mortgages and pensions.

Problem was, although I needed to invest 17% of my annual gross income (do-able) into a pension fund to ensure sufficient funds at retirement, the UK Gubbmint RESTRICTED pension fund investments to 12.5% of gross annual income! Screwed before I could even start!

Maybe just sit back, stay single, work at a menial job that pays the bills and Enjoy the Decline!?

Jose Bolsiski said...

Introduction to the types of taxes that we pay, how to avoid them if possible.

Introduction to credit card and credit card debt, why not live only with a debit card.

Anonymous said...

If you do have a nest egg, how do you keep it secure or growing?

Anonymous said...

Please provide your views on the following:

Salad dressing;
Super-absorbent polymers;
The human condition;

Andrew S said...

track your expenditures ruthlessly and accurately, and make a budget. Tracking every single thing I spent money on for a few months illuminated just how much money I was wasting on stupid shit like gas station coffee and eating out.

I now budget strictly, and save money by DIYing where ever possible. I brew my own coffee and it's better than store bought. I learned to cook, and treat myself to a couple steaks every week cooked exactly how I want them without being raped by restaurant prices. I eat better than ever and have about $10,000/year freed up from stupid shit that I'm using to buy fun toys like guns and machine tools.

PUMPsix said...

Bachelornomics:

House vs apartment vs rent.
Best way to tackle student loans.
Personal finance.
First time investing.

Things like that would be nice.

Anonymous said...

Developing sources of residual income that are useful today, as opposed to retirement accounts that are theoretically useful tomorrow.

In short, "Rent-Seeking For Dummies"

Stirner said...

Tax avoidance to shelter all that sweet, sweet Amazon/Affiliate Marketing cash....

Anonymous said...

Pros/Cons of renting vs living with family to save money or spending money on other things during your 20s. Of course we all want to move out and have our own place, but it's an option I've been considering since reading "enjoy the decline."

dannyfrom504 said...

real estate and retirement planning.

and also.....to the readers- get a copy of "Enjoy the Decline". it's a great jumping off point.

Anonymous said...

Recommendation and pros/cons of living with parents or relatives to save on rent (or god forbid, a mortgage) during your 20s, which is the biggest expense for most guys. There's a lot of beer and video games I could be buying with rent money staying in my bank account.

Anonymous said...

whoops; ignore the duplicate.

Eric Mueller said...

Anonymous poster asking about 'Rich Dad, Poor Dad", here is an incredibly comprehensive review of it by an expert in the field: http://johntreed.com/Kiyosaki.html .

Anonymous said...

1. True financial cost of being married
2. Question 1 with kids
3. Question 2 with Stay at home mom
4. Power of dividend paying stocks (most underappreciated concept in investing)
5. Estate planning starting at age 18.

retrophoebia said...

@ Anonymous,

Kiyosaki is not worth reading as financial advice. See also:

http://www.johntreed.com/Kiyosaki.html

for a pretty detailed takedown of the Rich Dad books.

retrophoebia said...

Sorry, I missed the link: Here's the article

plus reader responses to Kiyosaki.

Bruce Banner said...

Are whores cheaper than non-pros down the line?
Girlfriends seem to be more expensive medium term. And game is expensive too (Roosh had a post about the cost of running game: pretty expensive).
Should a young man avoid unpaid women altogether until he´s mature enough not to fall into the marriage trap? And the single mom trap and the emotional vampire trap? You get my drift....

Heretic said...

Gold.
'Nuff sed.

Anonymous said...

I'd like to hear your thoughts on the "magical formula" investing method.

Anonymous said...

The American people are incredibly ignorant with regard to what their real salary is, they think they get lots of "free stuff" from their employer. An employee has 3 parts to his salary, 2 the typical employee can name - his take home pay and his nominal salary(I will hire you for X$/yr). The 3rd portion of his salary is his employer's cost to have the person on the payroll and includes health insurance cost, vacation, retirement, unemployment insurance, etc. The government data say these "free" benefits amount to about 31% of the nominal salary. The 31% is average for all reported cost, I suspect the percentage is greater for lower salaried people and lower for higher salaried people (health insurance is more or less a constant per employee). Here is my question, I would like to see comments: If employees were paid 100% of their total salary (all 3 of the above components) and had to write a check for each of the withholding and "free" items each pay period, how long before people awakened and realized just how "screwed" they are? Also, note employees salaries will decline significantly Jan 1, 2014 with the full kick-in of Obamacare (bye-bye "free" health insurance). Are these thoughts worth anything? (Note: The freer the market the more wealth created for all. American became the economic leader of the world because of 4 items given by our founders 1) Freedom, 2) Property, 3)A Predictable Rule of Law and 4)Freedom of Religon. Think of how we are losing each of these items-which explains our current decline. Now you know, enjoy the decline!)

Anonymous said...

This may be more legal than you can answer, but I think it is a good question.

What, exactly should be in the prenuptial agreement?

It goes without saying, (but I will say it anyway for any who may not have heard), no male anywhere in the western world should get married today without one in hand. There was a guy at work here who's parent's did the dirty work for him; they told him he would be disinherited, and would receive no money for a wedding, if he got married without one. All he had to do was go to the girl and inform her.

Wayne Earl said...

I'd be most interested in an overview of your approach to statistical analysis as it relates to economics. Perhaps in the spirit of an economics "cookbook as it were", along the lines of Adler's "how to read a book" approach. Take some of the charts you've released via your blog or previous works, and show your reader how you took the data points (and where to get them), and birthed a chart.

You know the old saying, "light a man a fire, you keep him warm for the night. Set a mason fire,he's warm for the rest of his life"....or something like that.

Peregrine John said...

As you might guess, I'm interested in specifics of launching into a far more independent lifestyle - not the mindset and such philosophizing, but, assuming a desire and courage but very little capital, more an answer to the "Where the hell do I start?" question.

Steps 5-1000 seem fairly clear, it's just the first few that are confusing. Forney's got a path that is, I suspect, different from yours, and I think the Cap's view could be very interesting and useful indeed.

Anonymous said...

I've got savings, but my parents never taught me what to do with that sort of thing. They never saved and were always in debt. I honestly don't like the idea of home ownership at the moment. Owning a home feels like dropping anchor whilst surrounded by storm with how flexible the job market might be in the foreseeable future. I'd prefer to see something more basic if the Cappy hasn't covered it already, something that speaks to all men of all income levels as to what the good bets might be. Should I just give up on liquid finance and dig pits for precious metals, food and ammunition? Or should I go nomadic and use the excess to purchase odd land in places that no one goes? It's tough for someone who's come from a family that never had means to figure out in this economy just what the heck to do with the cash.

Anonymous said...

Hey, an extensive explanation of how to set up and integrate a sustainable long term personal finance budget and exert control over it that bleeds over into other aspects of life. Specifically a minimalist lifestyle (within reason) so that one can have some operating space once they want to begin a business. I'm 25. No business plan but I'm building all other aspects of my life from the ground up. I figure this is key.

Loved your book by the way, no homo. Viva la Manosphere.