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/biz/ - Business & Finance

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940877 No.940877 [Reply] [Original]

So I have over 20k in microsoft stocks that I would like to pull out and perhaps buy a house or a car, but the thing is I don't know how to do it whatsoever. My grandmother has been putting 1000$ in my microsoft stock every year since I was born, so I should have close to a 25 grand just sitting there. How would I go about getting it out?

>> No.940881

>>940877
>i has 25 grand
>i buy house now?

Your two options, a house or a car, are two very different investment types. Assuming you're looking to invest.

If you're looking to waste the money, you're in the right place regardless.

>> No.940908

tell ya grammy to diversify nigga

>> No.940949

>>940877
Invest it back into xxii, stm, nvda (wait 3 months), or mjna. Mjna is a penny stock and is very risky, multibillion dollar companies like Microsoft isn't going to budge in price.

>> No.941092

>>940877
I've got some news for you kid, if your grandma has put $1,000 a year for the past 25 years into MSFT, you've got a shit load of money. Like millions and millions of dollars, not just 25k.

>> No.941101

>>940949
>Literally implying he should waste his money on penny stocks that are almost certain to fail.
There's a reason they are called "penny stocks" investors put smallish amounts in lots of promising ones in hope that one or two will take off massively and create a profit greater than the loss on the others. High risk not what OP is looking for.

>> No.941102

>>941092
yeah, something doesnt add up. a couple hundred bucks 20 years ago would probably be worth more than 25k now

>> No.941106
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941106

>>940908

>> No.941282

>>940908
kek

>> No.941402

>>941102
Should be at least $250,000

>> No.941885
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941885

You guys don't understand, I don't care about making more money right now, i just want to know how to get MY money out

>> No.941891
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941891

>implying a house is an investment

pleb

>> No.941894

Are we talking $25k in stocks, or 25,000 shares?

One of those will get you a down payment on a nice car, the other will get you get you an invitation to the millionaires club

>> No.941897
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941897

>>941101

Somebody say penny stocks?

>> No.941900

>>941891
A house is like a security. You can sell it at a profit or a loss, or you can rent it out, which is like dividends.

>> No.941905
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941905

>>941894
25k stocks, I wish it was shares. I still just want the money.

>> No.941915
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941915

i love you guys

>> No.941927

>>941905
Who is holding the shares for you?

>> No.941928

House isn't a good investment unless you're going to flip and sell.

Cars are always a bad investment.

>> No.941930

>>941927
I don't know, how do I find that out? I have my social security number. It should be in a joint thing ready to be released to me whenever I need I need it, maybe by my grand mother or mother, and my mom keeps everything hidden from me

>> No.941934

>>941930

you're going to need the name of the broker that the account is with.

>> No.941935

>OP asks how to get money from broker
>/biz/ debates about how much money OP has

never change

>> No.941936

>>941934
how do I find that out?

>> No.941940

>>941930
Yeah, you can't figure this out without more information. If the account is in your name it should be no problem to get the money, but you need to know what the brokerage is.

Man up and ask questions or go snooping.

It's also going to be worth much, much more than 25k.

>> No.941944

>>941936
Listen faggot: Stop being underage b@n and act like a fucking adult. Have a conversation with your mother and your grandmother. An actual conversation.

Jesus fucking christ, I weep for this generation.

>> No.941947

>>941944
Pretty much.

When you know how much it is let us know too

>> No.941950

>>941940
Yep. And grandma/mom most likely don't think OP is mature enough to handle the money yet. How old are you OP?

>> No.941951

>>941936
Wait, how old are you opie?

>> No.941960
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941960

>>941940
I just realized I have my mothers email password and I have a key to the mailbox, so I'm going to intercept everything before she gets ahold of it which is good because christmas is coming around and that's usually when she puts another 1000 in. I've also been gathering valuable household items and giftcards/credit cards. Which I want to add money to my paypal, so I can have actual but it says I need to link a bank account which I fucking did and it still won't let me. Everybodys tryin to stop my grind.

>> No.941961

You need to find out how the account is held. If it is NOT in your name, you have no control and can only ask granny for the money. She doesn't have to give it to you.

If the account held under your name as a UTMA/UGMA account, you must be given full control of the asset upon reaching the age of majority in your state. States vary in what the age of majority is. Once you hit that age, the brokerage firm must have you fill out a form that will set up a brokerage account in your name and transfer the assets from the old account to your new one.

If you can't get the info regarding how the account is owned, you can contact the IRS and see if anyone has ever filed a tax return on your behalf. MSFT paid dividends years ago and that would require a tax return from you. Call them and ask for your tax records. They have to give it to you.

Good luck!

>> No.941964

>>941944
>>941947

What am I gonna say? Give me 20k because I'm a spoiled bitch whos done nothing to earn it? hell no.

>>941951
23

>> No.941965

>>941960
Sounds like you need to be arrested OP.

>> No.941968

>>941964
Yeah. Say that. If it is legally yours they have to give it to you no matter the reason.

Call up a cheap lawyer if she says no.

>> No.941969

>>941964
Start doing things to earn it bitch.

>> No.941972

>>941965
because paypal wont link my actual bank account? What would the charges be? lack of money?

>> No.941973

>>941964
Jesus. The initial 1k she put in is now worth at least 18k alone, not even counting the dividends.

You're rich, bro. If you have get your head straight and just talk to your family, you're good to go.

It's at least a few hundred grand.

>> No.941976

>>941973
Also, if you're 23 it's yours. It belongs to you now. Talk to a lawyer if you want and you're good.

>> No.941977

>>941964
>What am I gonna say?
If it was gifted to you, then your grandmother obviously wants you to responsibly enjoy the money. If you're such a fucking aspie that you can't have an adult conversation about the money, then clearly you shouldn't be entrusted with it

>23
Lying faggot. I'm gonna guess 17 tops, and probably 15.

>> No.941978
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941978

>>941969
I'm tryin, but that entails going to school then I'll end up spending all of it on loans AND THEN be in the hole at least another 20k

>> No.941979

>>941972
Because taking other peoples mail is a felony.

>> No.941980

>>941961
I should have mentioned - a tax return in your name with dividends paid would indicate a UTMA/UGMA account was in existence. If you see that info, and you have hit the age of majority in your state, you can force your family members to request the account be transferred to you. If they refuse, you can take them to court and force them to do it. A threatening letter from an attorney is probably all it would take.

>> No.941982

>>941978
Or you could you know, get a job and so something productive with your life

>> No.941984

>>941977
She wants me to spend the money on school, I don't want to spend the money on school. I'm 23 I promise.

>> No.941985

>>941984
Online trade school can get you licensed to perform a trade in like 2 weeks and its fairly cheap.

>> No.941986

>>941984
Take a couple community college classes.

If the account is as large as we think it is, dropping a few k to get the info you need to get control of the account should be nothing.

I'd recommend ancient philosophy. The ignorance practically radiates off of you.

>> No.941988

>>941982
too bad I was lyin

>>941982
dude I am TRYING, you don't really understand the magnitude of how bad I fucked my life up, but its almost surreal, I'm making baby steps back out into the world.

>> No.941989

>>941964

ask the name of the broker or you will have to call every broker in the US and ask if you have an account with them.

Keep on eye on the mail they should be mailing you statments.

FYI if this a trust, your grandma will have to sign off on letting you take over the account. unless she dies of course then it goes to you directly if there is no one else on it.

>> No.941992

>>941985
Thats awesome, what kind of trades?

>>941986
This is a good idea, I have almost my first year of college done and yeah I'm pretty dumb

>> No.941993

>>941984
Listen.

If the money is legally yours, you need to stop being autistic and have a conversation wit your mom. Read:>>941944

If she says no your next action is simple. Get a lawyer, pay him $500, and get your $24.5k.

Fucking fuck OP. You're a fucking manchild

>> No.941997

>>941992
It's really whatever you want to do, but based off your posts I think exterminator would be a good career for you.

http://www.ehow.com/how_2067643_become-exterminator.html

>> No.942001

>>941989
No my grandmas will will be split up between 4 grand children, she's pretty rich though. So I think we may all be millionaires (lots of infighting over the money will happen, but idgaf I just want my 20k cottage and a dog) I know my parents are probably gonna set up a trust for my sister to watch over (and spend) because I can't be trusted for shit apparently.

>> No.942004
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942004

>>940908
Oh GZA if only we all had your wisdom

>> No.942006

>>941993
idk man, I still need 500 bucks not to mention my parents would disown me if I did it straight up like that. If it just went missing one day, they might be like w/e

>> No.942008

>>941997
why do you think that? is it because i got so many hatas who need exterminatin?

>> No.942009

>>941930
So essentially you don't even know if the money is even there. They could've been lying to you or could've "borrowed" from said account

>> No.942010

Fake Fake Fake

T Y P I C A L B I Z B U L L S H I T
Y-
P--
I---
C----
A-----
L------
B-------
I---------
Z---------
B----------
U-----------
L-------------
L--------------
S---------------
H----------------
I-------------------
T-------------------

>> No.942014

>>942009
Well I've seen a paper confirming it, last christmas I think. I held onto it, I just seemed to have lost it over the past year. Like when she added more, it said "you now have this many stocks, should have invested in apple :)"

>> No.942015

>>942010
why do people think this is fake? It doesn't seem too out of the ordinary

>> No.942021

>>942014
So it showed how many shares she had? Holy shit OP I swear if it said 25k shares you better get that shit before your grandma died and your cousins take it

>> No.942024

>>942021
It was a little less than 25k because microsoft sucks and im not 25 yet, it was like 22k, but its in my name, she does it for every one of her grandchildren why and how could my cousins steal it?

>> No.942029

>>942024
If she's been putting in 1000 every year since your were born it's work way more than 25k and you said yourself your cousins will be fighting for your grandmas money when she dies

>> No.942030

>>942029
yeah, but thats different money and its not worth more than 25k microsoft sucks dude, I'm almost losing money

>> No.942040
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942040

bump because I love you guys and wanna talk

>> No.942042

>>942030
22k shares or 22k value?

>> No.942047
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942047

>>942042
22k value

>> No.942051

>>942030
microsoft was worth 2.73 a share at the end of 1993. That's 366 shares alone. I'm not sure if you're trolling or actually this stupid

>> No.943186

Watch granny just threw it into the brokerage account and invested nothing.