A little moral dilemma for a Tuesday night....

[mmmmm...beer 691]

So I'm kicking around putting a government 401k type (we call it the Thrift Savings Plan, TSP) strategy subscription service together.. with like 3 million active folks in TSP, not to mention retiree's I think there is more than enough business to go around. With some decent advertising and a professional looking website I think it could do okay as a side gig.

I'd use concepts and strategies I've learned from our my research and other "free" resources out there. Statistical data has shown the concept/strategies I've been using and would give advice on are averaging 15-37% a year return.

I'd offer a subscription service that will contact the subscriber via email/text when it's time to move the money from fund to fund.. etc.

The thing is... the main strategies I'd probably use for the subscription are derived from a calculator a guy put out for free use. I haven't chatted with him yet about it yet, and that's sort of my dilemma. Yes... the calculator is his. He created it and I wouldn't market the calculator in any way. The question is... is everything that calculator spits out his as well? Does google own all the information that comes out of their calculators they have online?

I'm not trying to do him dirty at all... just thinking about utilizing some of the info out of the 10,000 strategies thus far that the public have calculated utilizing his calculator he posted online.

Most folks will not put in the work. We know that... they won't even bother to look up how to invest their stuff. They just want someone to tell them what to do. I'll provide that... just like all the other paid for sites, but they don't have the rates of return mine will.

What do you guys think? Fair game? Nothing is copy-written at all I know for sure. Ask him if he cares? With that last one I really don't want to piss him off cause he's a cool guy as well, but meh... I don't know what obligation I'm under either.

Also... I may need to use you Worms to write me up a disclaimer that investing is subject to risk and by utilizing the subscription service, it is just advice, and YOU subscriber not ME are liable for the ups and downs of the market.

[penultimatestraw 473]

No dilemma at all - ask the guy. Otherwise, you are just trying to rationalize using someone else's idea to earn a buck.

[mmmmm...beer 691]

No dilemma at all - ask the guy. Otherwise, you are just trying to rationalize using someone else's idea to earn a buck.

 

I had already decided before I did anything significant I was going to talk to him about it. That being said I wanted to get outside perspective. Thanks Doc....

 

Also I don't think it makes a difference but the calculator is based off someone elses idea of how to invest. He expanded on the concept.

[kutulu 1,542]

How much should I send and where to?

[mmmmm...beer 691]

How much should I send and where to?

 

Haha... if I become a jillionaire and have charles schawb buy me out I'll buy you all beers in Vegas sometime.... (also your all staying off strip and flying southwest or spirit air, plus drinking domestic)

[titans&bucs&bearsohmy! 2,745]

Can't wait for your Ponzi scheme perp walk. Please have video posted here.

 

Jk. Best of luck.

 

And as to your question, talking to the guy won't matter much. If he agrees to let you use it now, he will change his tune and be butt hurt if you make big money and he's got nothing.

 

I'd bring a written waiver with me if your concerned about suits and such.

 

Sounds like he just built an app that uses other people's advice to spit out numbers. I don't know where you stand legally on that.

[frank 2,144]

Buy low, sell high. Now you can't use that either.

[Alias Detective 1,179]

Sigh

[BunnysBastatrds 1,911]

When mmmm...beer talks, geeks listen.

[Voltaire 4,555]

How much should I send and where to?

Mmmm....Beer has been working out of a Nigerian Bank account.

[mmmmm...beer 691]

Mmmm....Beer has been working out of a Nigerian Bank account.

 

Happy joy to you on today! I have better news then counts for people such as you.

[Hardcore troubadour 12,595]

Deferred compensation (401k's ect) strategy is based on dollar cost averaging and buying mutual funds. I see no need to pay for strategy. Trying to time the market is a fools errand. I know from experience.

[mmmmm...beer 691]

Deferred compensation (401k's ect) strategy is based on dollar cost averaging and buying mutual funds. I see no need to pay for strategy. Trying to time the market is a fools errand. I know from experience.

 

Yup... I agree with market timing. This is more of a buy and hold. You.... are not a potential customer. Sounds like you already know everystuff.

[IGotWorms 3,302]

I couldn't really tell you about the legality of it all, both because I don't know enough about the circumstances and because it's really not my area of the law.

 

The one thing I can kinda mention is that people can't really protect data from usage (other than keeping the data secret). How the data is presented may be copyrighted but at the end of the day raw facts are what they are regardless of who accumulated them. So I don't know how helpful that is but I think it's probably in the right realm.

 

As far as the ethics, I'd ask him. Sounds like what you want to do will be heavily reliant on what he's doing so it's only right to ask. Hell you may want to cut him in a bit so he's got incentive to keep doing it. What if he quit his part of it while you're in the middle of your plan?

[mmmmm...beer 691]

I couldn't really tell you about the legality of it all, both because I don't know enough about the circumstances and because it's really not my area of the law.

 

 

So what is it.. thatchya do here?

 

I fake cop, along with another guy, peanutstraw fake doctors with dsomethin gorother...we got two fake chinese teachers..

[cmh6476 748]

I have a small amount in a TSP aside from a SIRA I currently contribute to. I don't care enough about the TSP I'd let you make me 35% on it

[IGotWorms 3,302]

So what is it.. thatchya do here?

 

I fake cop, along with another guy, peanutstraw fake doctors with dsomethin gorother...we got two fake chinese teachers..

I fake law but not fake intellectual property law which seems to be what you're talking about with this fake scheme

[jerryskids 5,172]

Somebody with no investment or startup experience is going to start an investment business (on the side, because it is that easy) using somebody else's invention. What could go wrong?! I say go for it but keep us up to date.

[Reality 2,710]

Somebody with no investment or startup experience is going to start an investment business (on the side, because it is that easy) using somebody else's invention. What could go wrong?! I say go for it but keep us up to date.

 

My thoughts as well...

 

Good luck.