College Football Mutual fund.. Part of my Sportsbetting 401 k

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SmashMouth

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Oct 12, 2001
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As you may have red in a couple of other forums, I have gotten sick of losing money weekly in my 401 k, I have decided to put part of my retirement cash into sportsbetting accounts. I have started NFl, college foots, nhl accounts so far. Each started with a grand, Each to get a weekly $100 dollar distribution on Monday of every week.
In college foots I will make 10 bets a week.
9 straight ranging from $25 to $75
And 1 $100 3 team parlay.

We shall see what happens!!
 
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djv

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Do I read you right. Your starting with 1000 bucks. You will wager 10 bets. Maybe as much as 750 of the 1000. If you drop all 10 then what? Please don't say you can't get 10 wrong same day. Im just curious.
 
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Allnet

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Warning, I have gone 0-10, 3-13 . This is nuts, I'll take all the bets against the 401 K money. I am down 40% in my 401K , but damn sure wouldn't bet my 401k to recoup loses.

Want to make money=KST
 
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SmashMouth

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It may very well be nuts. Obviously what I'm doing here is not my only source of retirement. This is just a portion of it. I'm actually in a very good financial situation presently. With the one exception of my 401k at work. Like I say in the general forum, this is definitely not for everyone. Thanks for your input though!!!!
 
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jdh

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just put it in a roth ira account or some bonds. the market will get better the closer we get to Christmas. I've thought about doing the same thing before with my money, but i wouldn't put down 10 games a week. you could go through a lot of money that way. also, if you lose you say you will put it back I assume that if you win you'll keep playing. you could still lose it all next week. i think the parlays are good but i would use online books for those. just do straight-ups.

Notre Dame +10.5
LSU -3.5
Virginia +5.5

Good Luck.

PS. to everyone who reads this, keep your money in the market, we've been in worse situations than this before, it will get better.:)
 
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Trentwalker

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There are 2 parts to your 401K story...Yes, you are losing money, but you are also buying shares at their lows. It's called dollar cost averaging. We all saw Boiler Room.

This is asinine.

That said, Good Luck with that NC State call. Go Pack !!!


;)
 
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freelancc

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this is actually great time to shift equity into Roth, 401k, 403B whatever tax-free shelter that you can. this is a great value at this point in time..

The other great value at this time is Texas A & M -4 1/2:spotting:

good luck to all..;)
 
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mber77

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Freelanc was correct, if loses abound, may be good time to convert to roth,

As far as investing, check Investware.com for software that will do the handicapping for stocks like you all do for sports betting

Go NC St -1 1/2 for fun, not retirement
 
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SmashMouth

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Actually by doing this I will be saving money. My bets are now smaller. I started the nfl season with a 5k bankroll, same with ncaa. Those accounts are now closed. I funded my new "retirement" accounts and put the rest away. I would have opened Hockey with at least a 3 k bankroll. Now it's a 1k. What is stupid about that??? In the general forum I have explained part of my financial situation. Who said anything about not being in the Market?? Ofcourse I have money in the market.
Right now more of our money goes into our houses than than the market. I guess that is asanine too!!
 
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GENO

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JDH
YES there have been lower times in the market 1930-1934 & 1970-1974 so will it be another 40 years with 2010-2013?

How many of you guys have talked to the local sheriff's property appraiser? The guy who goes out for forecloses and sheriff's sales? Here in central ohio they are very busy.

I work in auto parts. The boxes all say where the parts are built,

Window regulators in S Korea, Harmonic balancers in INDIA ? tons of stuff in Mexico but very little in the good old US OF A now the stock prices are sure to come back up right cause of all those auto profits due to lower prices of overseas cheap labor.

I ain't the smartest brain outta the wheaties box but something wont work here. I am tired of consuming and getting taxed 6-7% when I buy.

The state even has a TAX on dreams,... it is called a super lotto with a 17 million to one long shot odds. Damn sorta makes those five team parlays look like a bargain :D

Had to vent and could go on with MARTHA & the ENRON boys fixing games ER stocks well you get the picture.
:cool:
 
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Theboundbook

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NC State was a good day trade today! :) Lots of value through the first half with more capital gains coming at the end of the second half.... (Tried to have stock talk there... :confused: )
 
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