My New Pay Rise!

[F.E.A.R.]

I work in New Zealand as an Actor, i am 15 years old, my old pay was $15 an hour, on average of 5 nights, and 1 and a half hours on those nights.
My new pay is $45 an hour! Just because i got a higher role!
If any of you awesome Americans come on holiday here, make sure to come find out about Nz's past! Tamaki Hritage Village
Look out for me, im normally the Constable/Police Man

[TwoRails]

That's fantastic, F.E.A.R!! Enjoy it while you can -- and who knows where it will lead??...

[Dave21]

A constable played by a 15 year old?

Congrats on the raise.

[nocturnx]

I couldn't get your link to work...congrats tho

[EzyStvy]

My first job at age thirteen was 65 CENTS per hour washing dishes. It was good money back then. Luckily the resturant owner had two red headed daughters to keep things interesting.

[F.E.A.R.]

soudnz like the falther played you like a fiddle, "ill give you thi much..... but you can talk to my daughters" lol

[F.E.A.R.]

Nocturnx, just for you.

TAMAKI HERITAGE VILLAGE – CHRISTCHURCH
A night of drama, action and feasting! Set within an era of dramatic change and uncertainty within New Zealand’s history, the evening encounter, “Lost in our Own Land” re-lives the impact of colonization upon our indigenous nation, the Maori people from 1820 onward – a time in which many felt trapped between the promise of the new ways and the significance of their ancient values. The Maori village, the fortified Pa and the colonial village sites come to life throughout this spectacular evening encounter. Walk through the Maori Pa (village) and experience our people’s way of life during this fractious time. Travel by tram through the colonial town. Feel, first hand, the impact of this time of change.

Feast upon a selection of traditional Maori hangi and Colonial banquet food. Enjoy the steam train ride at the end of the evening as you take with you memories of this powerful journey and events that shaped the history of our country. Two sets of values, beliefs and lifestyles…and only one way forward.

That is what it said on the website and here is the link again - http://www.christchurchnz.com/canter...uctID=15013697

[12twelve12]

Originally Posted by EzyStvy My first job at age thirteen was 65 CENTS per hour washing dishes. It was good money back then. Luckily the resturant owner had two red headed daughters to keep things interesting.

I would do that job for free with those kind of "benefits".

[David M]

That's excellent FEAR....don't spend it all on "wine, women and song". Make sure you invest a good portion of it for your future.

[inflames988]

Originally Posted by David M That's excellent FEAR....don't spend it all on "wine, women and song". Make sure you invest a good portion of it for your future.

He's right. If i managed to bank as much as I did on a $10/hr salary, you can definitely get yourself started towards a good future. Right now i'd stick with savings accounts and CD's...stock market is still too volatile. I called it a day on the stock market when i lost $500 or so of what i invested, im now almost 100% out of stocks. Regardless, at 19 years old I'm in much better shape financially than most people I know. They might have newer computer hardware or go out to dinner more often, but I get more satisfaction from what I'm doing with my money. The other day I checked the total interest earned on my savings account since i opened it - $1990. Alot of people my age don't even have $2000 saved, and I have $2000 just from the interest my account has accrued since i started it in 2000 (I started the account with $300 on my 12th birthday, and kept depositing money I saved from doing odd jobs and eventually real jobs). I plan to do a masters program in school, at which point they will stop covering my tuition under scholarship, but I should have just about enough money to pay for it on my own, which is a pretty good feeling.

[glc]

What APY are you getting on your savings right now? It looks to me like all passbooks are less than 1% now. I'm still getting 2.75 with ING Direct.

[David M]

It's very difficult to time the market. This is not the greatest market fall since the Great Depression. The market fell more percentage wise in 1987. This is another of a number of market sell offs which happens and is normal. Its best to look at this as a buying opportunity. Warren Buffet recently made some huge purchases. He invests long term. Those who lead what other investors are doing do well, those who lag do not do well at all. You can be certain the market will be higher in 2-3 years than it is right now. Markets historically will give you the best return of a 10% average over time. Its not a good idea to be out of the market when it is down. Its too late now to get out of the market. Dollar-cost average and you will do well for yourself over time. At age 15, you will have one hell of a lot of money when you retire if you start investing now. It will also cost you a lot less over time if you start investing for your retirement now. One day many years from now you will be happy with yourself that you did it.

[inflames988]

Originally Posted by glc What APY are you getting on your savings right now? It looks to me like all passbooks are less than 1% now. I'm still getting 2.75 with ING Direct.

ING just cut me to 2.75 as well, but their CD rates are ok. I always have at least 3-5 CD's at a time with ING. when they end, they give you a .1% rollover bonus (even if you dont roll the CD over immediately, they still give you a month or so to do it), so I have like 70% of my money earning 4.25%+. They actually still offer these rates now despite the fed rate cuts - not surprisingly, banks need money, and CD's are a good way for them to get it.

Here's what they have now:

6 Month 3.50% 10/21/2008
9 Month 3.75% 10/21/2008
12 Month 4.25% 10/21/2008
18 Month 4.25% 10/21/2008
24 Month 4.25% 10/21/2008
30 Month 4.00% 10/21/2008
36 Month 4.00% 10/21/2008
48 Month 4.00% 10/21/2008
60 Month 4.25% 10/21/2008

[inflames988]

Originally Posted by David M You can't time the market. Markets historically will give you the best return of 10% over time. Its not a good idea to be out of the market when it is down. Its too late now to get out of the market. Dollar-cost average and you will do good for yourself over time. At age 15, you will have one hell of a lot of money when you retire if you start investing now.

i got out before it tanked too hard. I actually balanced some of my losses with big gains by buying DXD (an ultrashort dow index fund - fun stuff). I've got the feeling we have much more to drop, but I have < $250 remaining in the market. My parents lost an entire year of my mom's salary in one day, and i've seen too many people getting burned by this so i'm on the sidelines for now. If the dow dips into the 7000 range ill buy in again, but its too messy for me now.

[David M]

flames,
glad to see you minimized your loss. I have a few long and short leveraged ETF's that I trade in and out of. One of my favorites is DIG and DUG.. 2x leveraged long and short oil and gas. Oil is trading with the market right now. So it also trades in a range pretty much.

Not to lead this thread astray, but I am a little more bullish. I think we may have already seen the lowest day for the Dow. Right now I am using the volatility to make money. The market right now is trading in a range. What I am doing is not for many and many people who are more the buy and hold types would call me foolish, but I have a passion for the market, make the time to study it and love doing this.