The Stock Market Advice You Can't Find Anywhere Post-Mortgage Crisis

I've made some really good stock calls in my day, through comprehensive stock analyses on picks I've considered for my portfolio, like the stock that topped my list back in '08 in my final year of business school, Allergan (AGN). It was a thoughtful investment idea that made a fortune on paper. Unfortunately, it amounted to no real gains because I never followed through. Instead, I took a professor's advice, and put ten grand into ProShares UltraShort 20+ Year Treasury (TBT), an ETF that double shorts the U.S. Treasury Bond Index. “Interest rates have to rise," my professor said. “They can't stay at these lows for an extended period of time." I didn't know then that this specific professor was a Lehman Brother's layoff, and high interest rates were the finance world, as he knew it to be back in his short-lived career on Wall Street.

Allergan allergan-web-cdn-static-prod.azureedge.net

Allergan

Allergan (AGN) was trading at $30 at the time, and its current 52-week high is well over $300. As we now know well, interest rates fell lower, and stayed at all-time lows for the next 8 years. TBT continued to drop, before reverse splitting 1 for 4 in 2012. I was left with $1k to show for my shares purchased for $10k, which had invested in Allergan at the time would have matured to $100,000. Of course, we can all go over ideas we failed to execute—scenarios that made us miss out on some serious cash. Yet even with all the worthy calls I've made since then, I'm still hesitant in my trading until I consult with someone I believe knows more. Knowing who to trust is important, and taking just anyone's stock advice was a mistake I'd never make again.

Recently, I mentioned one of my stock ideas to a close friend who made his millions at his hedge fund. He understood my reluctance to trade, as it's a common theme among all investors. He shared with me one of the resources he used to gain a competitive edge both as an individual investor, and in his professional endeavors to benefit his fund and its clients, Real Money, a membership-based website headlined by Jim Cramer.

Jim Cramer fm.cnbc.com

Cramer's Real Money

One of Cramer's biggest philosophies is that you have to pull the trigger, and Real Money would soon become my biggest ally as it provides me with the assurance I need to take the right course of action on great ideas. It's a place where you can consult with professionals on your ideas and theirs.

Real Money members are privy to specific actionable investment ideas and the insights of more than 30 site contributors, who are not just journalists; they're chartists, financial advisors, day traders, economists, and money managers who have clients of their own, and winning track records on Wall Street. All of the contributors are handpicked by Jim Cramer through his experience with them in the industry, and most of them are still professionally investing in the ideas they share with you in real-time.

The site features exclusive stock market information that individual investors would not be privy to otherwise. Take sell side technicians and chartists, for example, who have disappeared from investment banks because of the downward pressure on costs and commissions that drove Wall Street away from transactional business. They still power their hedge funds and mutual funds, but of course there's absolutely no visibility there. Real Money's in-house chartist, Bruce Kamich has a 40-year career with a number of bulge bracket firms. He's spotted some huge trends he shared with us and executed on, like the gold stocks, where he recommended NovaGold and Yamana Gold, both for some very big gains. His charts also showed aggressive accumulation in Joy Global ahead of a very large takeover bid. His writing is breezy, and palatable with visuals that make sense.

Make the most of your money s.thestreet.com

You can follow along in the Real Money Ideas section to see which contributors' ideas pan out, and decide who to follow. Members often weigh in with their opinions, or ask questions on the site, and the contributors reply to us inline. You can even contact any site contributor via email, including Jim Cramer. I haven't emailed Jim yet, but Roger Arnold always responds. (In case you haven't heard of Roger Arnold, he's an accomplished economist currently serving as chief economist for ALM Advisors, a money management firm specializing in income-generating portfolios.)

Now, I only take investment advice from professionals who know what they're doing, and exercise transparency in the returns they have to show for it. Not Lehman Brothers' layoffs or the ones responsible for the financial crisis of '08, but rather the money managers that prevailed even during times of hardship, who give us an inside look at what they're trading day in and day out with real money on the line.

Update: The folks at TheStreet are extending a special offer to our readers! Follow this link to get Real Money FREE for 14 days with no obligations! (It's also discounted to just $3/week if you choose to continue with membership.)

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Tips to Manage Money Together as Newlyweds

When you are newly hitched and learning how to combine your essential legal and financial information as well as your accounts, it can be confusing.

Many people live together before getting married and have begun the process of combining accounts and sharing responsibilities. However, some people wait to do this only after marriage, and others wait until they're married to live together. Whichever path you've chosen, it's still crucial to know a few tips to manage money together as newlyweds to determine where you should begin and how you can remain on the same page.

Discussing Money Motivations

As we begin to share money with our significant other, we soon find out what one person may rank as a priority regarding money and the other may not. As such, sitting down and discussing money motivations is important. Two people who cannot agree on how to handle money may cause serious issues. This should include:

  • How to deal with money following payday. Is a percentage put into savings? Is that the day to splurge on dinner, drinks, and more?
  • The frequency and size of payments made to debts. Some people like to pay minimums, whereas others pay in full or make double payments.
  • What do you each consider money well spent? Is it a new 70" 4K television? Is it an investment? Is it paying as much debt off as possible?
  • How do you go about consulting each other before making purchases over a certain amount?

Establishing Financial Goals

After you evaluate the motivations behind your money and how it should be spent, you'll need to spend time together hashing out financial goals. As newlyweds, there are certain things on your list that you're going to want to save for. How do you go about that? How much of each paycheck will you dedicate to a particular fund?

Some things in the future worth making a financial plan for include savings and paying down debts. This is the time to be honest about your current financial standing. If you're looking to buy a home, you'll want to assemble a first-time homeowner financial checklist to begin to develop topics of conversation. Some of the things to consider setting goals for are:

  • Student loans
  • Car loans
  • Future children
  • A house
  • Medical bills
  • Delinquencies on credit reports
  • Vacation and rainy-day funds
  • Emergency funds

Budgeting Together

The more honest and open you can be with each other about the money you have and now the debts you share, the better. Implementing plans for the best ways to have the things that you both desire while still taking care of existing demands is important. These can be uncomfortable things to talk about; however, these conversations are necessary.

Following these tips to manage money together as newlyweds will allow you to have a starting point for conversations that can be tough to start. The sooner you and your partner get on the same page with finances and the responsibilities that come with them, the easier the transition will be and the sooner you'll find success.

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Potential Sources of Passive Income for You

It's the dream: money you can count on to keep rolling in, even while you sleep.

Passive income isn't entirely passive, of course. You'll put in work up-front to get the profits rolling, so don't relax in your recliner just yet. But with so many potential sources of passive income available to you, picking one or several will mean that the day you can finally kick back will draw steadily closer.

Rental Properties

Real estate is a tried-and-true wealth builder for a simple reason: people will always need somewhere to live. Research the market in a growing community until you know a good deal when you see it. You can maximize rent by fixing up a deteriorating property or upgrading a mediocre one. The key is to hire a property manager to do all the day-to-day landlord duties for you—and you'll need a good one. Smart investors put their profits in another property and repeat the process until they have a diverse portfolio.

A YouTube Channel

You can start a blog if you're more comfortable hiding behind a computer, but consumers are more likely to prefer video content. Post a series of “how-to" videos to answer questions about whatever you're an expert in.

You can put up any content you want, but if you don't want to commit to regularly updating it, focus on “evergreen" topics that will draw clicks for eternity. Ads will create your income, especially if your channel grows in popularity. Better yet, sign up for affiliate marketing. If you recommend a product and provide a link to buy it, you'll get a small percentage of those transactions.

Auto Advertising

If you don't mind vinyl-wrapping your car with an ad for a company, you can get cash just driving around and running your errands. Make sure you contact a reputable company that doesn't ask for any money from you; if they're the real deal, they'll evaluate your car, your driving habits, your area, and more. Bonus: the brighter the ad, the easier it'll be to find your vehicle in the parking lot.

Digital Products

What's something that people will pay for but doesn't require shipping on your part? Finding that item is what can supplement your income indefinitely. Write an e-book, charge for your cross-stitching patterns, design prints that people can digitally download, invent an app, record a “masterclass," or whatever else you want. Every time someone new discovers it, the cash register rings. With a little more effort, this is a potential source of passive income for you that can continue to grow. Once you build up a customer base, they might want more products. The good part is that it's up to you whether you wish to give it to them.

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How to Handle a Damage Dispute in an Airbnb

Airbnb is a great option while traveling, but you should protect yourself from damage charges from unscrupulous hosts.

Airbnb offers an affordable option for people looking to be more comfortable as they travel.

However, there are downsides to staying in a host's home rather than a hotel. Whereas hotels are designed for constant streams of visitors and often have furniture built to last, at an Airbnb, you may be staying on old or cheap furniture that a host is using in order to maximize their profits.

And while most reputable hotels will have regular room inspections from staff to check for any wear and tear, Airbnb damage disputes are oftentimes he said, she said situations. If you are in an Airbnb and something breaks, there are a few steps you should take in order to ensure that you are not on the hook for damages out of your control.

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