PIRfect Stock Picks

Give me some credit: I finally get the Fed!

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I finally get it. It took me a long time, but I think I'm catching on. For months and months I've been hearing about these Fed cuts and silently I scratched my head, too embarrassed to ask anyone to explain. I kept reading about how it would be good for the economy and how it would be good for me too! Yes! Great! Why?!

Finally today, while researching an article, I finally saw a clear, concise explanation of what was going on: These were the rates that might finally help me with my outrageous credit card interest rates! That's all anyone needed to tell me.

See, I got duped in college. Well, let's be fair. Back then, a free teddy bear was enough to get me to sign up for a credit card -- and I didn't know enough to bother asking silly questions like "What's the interest rate on that?" Since then, I have gotten slightly more wise, applying for credit cards with lower interest rates, consolidating my cards to the ones with the lower rates, and just asking my credit card company for a break. But I'm young. I don't have too much debt, and (after a solemn promise to my grandmother), don't carry balance on my credit cards. None. To my credit card company's chagrin, I'm quite sure. Nevertheless, my interest rates are nowhere near ideal.

I'm worried, like many of my friends, that we will be in financial trouble in the near future with no savings and a looming recession. One day, I may have to break my promise and start living on credit. (To be perfectly fair, I might have to do that next week when I get my car repaired.) And when I do, I'll need all the help I can get.

I'm still sorting through the exact cause and effect of the interest rate cut/increase on the economy as a whole, but in the very short term, I'm just glad that there might be some hope for me and my credit.

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Getting Started on the "R" Foot

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I like to believe I'm a pretty smart individual. Ya know, hip, with it. Smarter than the average bear.

I also believe that self-delusion is something we all need to get out of bed in the morning.

Nice introduction, huh?

You can call me "The Freshman," a 26 year old employed young professional, with little to no savings, a heap of student loan debt, and no experience trading... at all. So...what precisely am I doing in this here competition? Good question.

Let me start with a little disclosure: I can't actually win this thing. See, I work for InvestorPlace Blogs, but do NOT think that gives me an advantage. I've been reading your blogs for 6 months now, working here for a year, and still can't get my head around the investing game. Seriously. Boggles my mind. That being said, I've got to learn somewhere, right? And what better place to learn about investing and the stock market than in a competition where I get to lose use someone else's money!

So I've been at the company for a year, so you might ask "Why start now?"

What spurred me on was this idea that we may or may not be (and will someone please figure it out?) headed into (or are already in...) a "recession". The R word. The word that my peers are completely ignoring and my parents are completely freaking out about. I know very little about what recession actually means. I grew up in some pretty glorious years economically. My parents used to tell me stories about gas lines, and drafts, and rationing... and I thought... pffft. Impossible! Now I look around and say, "Um, maybe not so much with the 'impossible' afterall."

Besides my 401k, I've got nothing going on as far as a real savings plan goes, but more and more I realize that I really need to get on that. My car is almost paid off (come on August!!!), and my student loans are well on their way (come on 2015!!!). Buying a house isn't even something I think about because it just seems like an impossible goal. That being said, it isn't going to get MORE possible if I just ignore it.

Here's the plan: I know there are some professional advisers on InvestorPlace blogs, so I'm going to keep an eye on them (because they are free, and I have no money), and I'm going to rely on you all a lot. That's my plan: a veritable lack o' plan.

Anyway... here I am, the Freshman. Let me give you a little spoiler: My portfolio will not "wow" you. But perhaps my charming personality and cunning wit will at least entertain you along the way.

Wish me luck!

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Test Blog

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Hey there investing world. This is my first foray into blogging. Wish me luck!

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