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Author: [Investments] Topic: A young guy with cash
platypus send a private message View Space | Friends | Playbook | My Sportsbook: Pinnacle Sports |
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#1
Posted: 5/31/2009 4:24:22 PM
Heya!

I have a little pickle I was hoping you all could help me out with

I recently graduated university - debt free (yay covers!). I was also recently was taken on full time by my company (a major telecommunications company). As part of their employee wealth accumulation program, they are willing to toss me 25-50% (I forget the exact %) of every dollar I put towards their stock, at a max of 10% of my pay cheque.

Its a great job for now, but I need to make more money/work for myself. I could see myself being here another 1-2 yrs, but thats it. I'd rather not go into specifics about the company name or salary.

Do I, bank the money, buy the stock, or start buying up other investments?
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#2
Posted: 5/31/2009 4:30:40 PM
telecom stocks are on the rise,  may be a good short term plan.  congrats on your success,  sounds like you are doing well.

i would definitely check on any small print, like how long you have to keep the stock, or any penalties for early withdraw. 

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#3
Posted: 5/31/2009 4:47:39 PM
If the company isnt a POS I would purchase the stock.

Is there a vesting schedule?

If the stock is cheap and you are getting a 50% match, you could always sell the stock after you leave.

Lots of variables though.
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#4
Posted: 5/31/2009 5:34:10 PM
rick, thanks for the kind words

I cant access the employee benefits site from home, but I'll get back to you both on that by monday.

the stock is worth about half as much as it was when I got hired about 2 yrs ago, but the company grows every yr and is one of, if not the biggest in Canada
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#5
Posted: 6/1/2009 1:19:50 AM
1-2 Years .... You are a smart guy and these guys will not let you leave.  All your big time collegiate dreams will wait until BellC stops promoting you. 
 
CONGRATS by the way
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#6
Posted: 6/1/2009 1:23:19 AM
Go into the new job "quiet" instead of loud.  Smart does not have to be loud.
 
Take the money and go buy a box Wagon and NOW
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#7
Posted: 6/1/2009 9:52:05 AM
...I would for sure buy the stock. You're getting atleast a 25% discount (from their contribution), so as long as you buy in increments, how can you lose, considering it's one of the biggest in Canada. 

Congrats and BOL.
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#8
Posted: 6/1/2009 4:38:21 PM
thanks guys, unfortunately I was swamped trying to wheel on facebook for most of today and forgot to check the employee site for all the details. But I did ask a coworker and found out its 25% for the first yr, 30 after that, and it goes up from there.

Fried, logistically they wouldnt be able to promote me fast enough/high enough without transferring me to a completely different dept outside of my current skill set. Im a quiet guy so no worries there - also, the box wagon will have to wait. I dont need a car at this time and one would only cost me money
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#9
Posted: 6/1/2009 4:41:19 PM
If they're giving you an extra 25% I think you gotta just buy it as much as you can.  Once you leave if you can sell some to diversify then do that, but I would hate to leave free money on the table like that.
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#10
Posted: 6/1/2009 5:09:43 PM
QUOTE Originally Posted by depeche2:

If they're giving you an extra 25% I think you gotta just buy it as much as you can.  Once you leave if you can sell some to diversify then do that, but I would hate to leave free money on the table like that.


 Exactly...
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#11
Posted: 6/1/2009 10:31:41 PM
QUOTE

Originally Posted by platypus:


Fried, logistically they wouldnt be able to promote me fast enough/high enough without transferring me to a completely different dept outside of my current skill set. Im a quiet guy so no worries there - also, the box wagon will have to wait. I dont need a car at this time and one would only cost me money

What happens is they lay off all the senior people and hand the youngsters the keys at a cheaper rate.  Good way to pick up experience.  Skill sets change every day but might as well rack up some experience.

Wear a tie even if they tell you not to.

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#12
Posted: 6/1/2009 10:33:04 PM
Isn't your degree in Political Science or something?
 
That has management written all over it.  Or even better.... Marketing or the rare Lobbying gig.
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#13
Posted: 6/2/2009 1:03:43 AM
political science and philosophy

I wanna be a diplomat

still time

and funny you should say that thing about ties. I got transfered from HQ to some smaller campus after the promotion and I showed up the first day in nice shoes, pants, and shirt. Was told to come in with jeans/khakis and a golf shirt the next day
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#14
Posted: 6/2/2009 3:58:23 PM
Grasshopper, Diplomats wear ties.  Even when they cut the grass they wear ties.
 
Wearing a tie is a license to do anything or be as lazy as you want
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#15
Posted: 6/2/2009 4:57:57 PM
No garbage Platy, the tie is the ticket.
 
When I was in Corporate America, I would join the closest gym/health club to the office and LITERALLY take 2-3+++ hour lunch breaks EVERY single day to work out and eat.
 
At first got fucked with but ALWAYS wore a tie.  In terms of departments, got bounced around constantly.  They don't give a garbage about your "formal" skill set.  They want people who wear ties and can explain stuff to other people.
 
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#16
Posted: 6/2/2009 4:59:24 PM
I have a feeling you can explain stuff so you should be able to jump departments, buildings, divisions, units if necessary.
 
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#17
Posted: 6/2/2009 6:51:23 PM
thanks fried, but Im not wearing a tie



But I can explain the details of the program - I get 25% of every dollar I buy in their stocks for my first yr. I can withdraw my own funds at any time, but the 25% the company puts in isnt officially mine until a yr later (re: the vesting sched). They'll toss me 35% after yr 2, and 50% after that.

Im signing up for it tomorrow.

Also going to start hunting for real estate investments this weekend - most of my friends are looking to get their own places (rent) and I figure, they may as well rent from me.

If anyone has ideas, let me know. The stock market seems like a crapshoot for anyone without a business background (or maybe with too)
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#18
Posted: 6/2/2009 7:12:56 PM
Fine, do it your way.
 
Have you EVER seen a Diplomat NOT wear a tie though?
 
If you want to build wealth, then FOR SURE go buy a house.  One large enough to charge your roommates rent.  If you are gonna get all accountant on me then skip the box Wagon  and get a HOUSE not a condo.
 
401Ks are GREAT but there IS a penalty to withdraw early.  It's not huge (I think it is 10% but not sure) and then you gotta pay tax on it.  If you already own a place to live or in complete transition mode then I would say jump on the 401k but if you are convinced to live in whatever area you live in, go for the house.
 
I have lost so much friggin money in the stock market, it is painful but worst case in a real estate deal is about break even.  Meanwhile, you need a place to live, can write most of it off and collect cash money from your degenerate roommates. 
 
Also, when you are old enough to date, chicks dig dudes who own property.  At least the good ones do.
 
 
ps
It's not like you live in the heat of Florida, will you just "try" the tie for 30 days?
 
pss
One of my old girlfriends was from Toronto.  Classy operation up there.  
 
 
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#19
Posted: 6/2/2009 7:17:01 PM
Lived at that Four Seasons in Toronto for about 6 months
 
 
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#20
Posted: 6/2/2009 7:20:41 PM
If you are not going to buy a house and do not need any cash then I would absolutely jump on the 401k plan though.  It is free money but you are not supposed to touch it until you are 60ish.
 
Meanwhile, if you are going to be the shy guy in the library like you were last year, you can have keg parties and have them just show up without chasing them around town.
 
Real estate is expensive in Toronto though.  Location is key..... keep it within bicycle distance of work.
 
 
 
 
 
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#21
Posted: 6/2/2009 7:34:07 PM
If bicycle distance is not doable in your price range then get back to me for further instructions.
 
Do not move to bumblefuck.  Keep it where you WANT to be.  If you like bumblefuck, then perfect but don't live in bumblefuck to save a few bucks. 
 
Going to dinner now.
 
When I get back, we'll discuss what type of tie to wear.
 
 
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#22
Posted: 6/2/2009 7:49:05 PM
classy operation indeed,

but I dont want you to waste your time about which ties to wear. I used to work on the floor of Holt Renfrew's flagship store - I own too many ties as is. Fashion is my forte
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#23
Posted: 6/2/2009 9:20:58 PM
My advice is buy a burberry polo shirt. 

not a tie,  but it tells them that you are a swinging person. 
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#24
Posted: 6/3/2009 12:11:33 AM
  Do you want to be a Diplomat or not?
 
CLIP that tie on and can we get to the next level.  Please?
 
Dude, I am living vicariously through you Grasshopper.  Do not let me down here.
 
 
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#25
Posted: 6/3/2009 12:14:34 AM
The Tie is the "shocker" and "weed out" mechanism... but there is much more after that.....
 
But the Tie seems to be the hardest part.
 
Are you thinking sweat pants, a pack of cigs, and a cooler?
 
 
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