Investing?

[G raham]

bitcoin bitcoin bitcoin bitcoin bitcoin bitcoin bitcoin bitcoin bitcoin bitcoin bitcoin bitcoin bitcoin bitcoin bitcoin bitcoin bitcoin bitcoin bitcoin bitcoin bitcoin bitcoin bitcoin bitcoin bitcoin bitcoin bitcoin bitcoin bitcoin bitcoin bitcoin bitcoin bitcoin

[pugmaster]

So Dave Ramsey seems to be a person who gives much advice in personal finance. I don't exactly agree with his 1 size fits all approach to finance.  Are there others who find flaws in his "steps" or is it just me?

[igrindtwinkies]

So Dave Ramsey seems to be a person who gives much advice in personal finance. I don't exactly agree with his 1 size fits all approach to finance.  Are there others who find flaws in his "steps" or is it just me?

His personal finance stuff is good.  His investing stuff, not so much.  He recommends investing in mutual funds which are typically outperformed by index funds.

[pugmaster]

UPDATE: Dave Ramsey is a Pug man. I hope this information soothes you as it has soothed me.

[urlhttps://www.daveramsey.com/blog/chosen][/url]

[rawr1922]

Wanted to share first experience dealing with stocks. Charles Schwab legit & perfect for rookies like myself. Recently bought 10 shares of Nikola @ $30/share. Held high hopes + expectations for this hydrogen fuel cell start up auto company. GM invested 2 billion & Republic Services (2nd largest trash company) held an agreement with Nikola to supply dump trucks in a couple years. Their consumer truck The Badger looked fantastic with good stats set to release next year. 
As soon as I invested, scandal around the corner. Allegations of fraud , the ceo/founder leaving the company , & seems like every week a new negative event brought up in the news. As soon as things went south, sold asap. Luckily only lost $40 in all .Stock trading at $19/share now. Pretty bummed, thought this company gonna be legit. Fun experience checking stock price every morning.   Long before  I invested, Nikola traded as high as $90 back in June. 
 
Also recently read a book about Theranos called Bad Blood. Quick overview if you haven't heard,  Elizabeth Holmes claimed to create super innovative blood test machine that only requires a few drops of blood. Complete fraud. She fooled so many people, investors , gvt officials, & even Walgreens to sign a big contract. Shes actually in the early phase of her trial right now. Just blows my mind after Enron, all this fraud still happening today on a huge scale.

[GardenSkater77]

Wanted to share first experience dealing with stocks. Charles Schwab legit & perfect for rookies like myself. Recently bought 10 shares of Nikola @ $30/share. Held high hopes + expectations for this hydrogen fuel cell start up auto company. GM invested 2 billion & Republic Services (2nd largest trash company) held an agreement with Nikola to supply dump trucks in a couple years. Their consumer truck The Badger looked fantastic with good stats set to release next year. 
As soon as I invested, scandal around the corner. Allegations of fraud , the ceo/founder leaving the company , & seems like every week a new negative event brought up in the news. As soon as things went south, sold asap. Luckily only lost $40 in all .Stock trading at $19/share now. Pretty bummed, thought this company gonna be legit. Fun experience checking stock price every morning.   Long before  I invested, Nikola traded as high as $90 back in June. 
 
Also recently read a book about Theranos called Bad Blood. Quick overview if you haven't heard,  Elizabeth Holmes claimed to create super innovative blood test machine that only requires a few drops of blood. Complete fraud. She fooled so many people, investors , gvt officials, & even Walgreens to sign a big contract. Shes actually in the early phase of her trial right now. Just blows my mind after Enron, all this fraud still happening today on a huge scale.

No idea what you are looking at. Take 90% of your savings and dump it into Vanguard Total Stock Market Admiral Shares:

https://investor.vanguard.com/mutual-funds/profile/overview/vtsax

If it’s good enough for Warren Buffet it’s good enough for Rawr1922.

The 10% you don’t invest in a mutual fund you can gamble with.

If your job has a matching 401k even better.

I’m tryin’ to stack cheddah like Evan Hernandez. Come join me on the tarmac for a bottle of Cristal.

[rawr1922]

Thanks for recommendation Garden Skater!  Vanguard appears legit especially for long term gains. Have a 401K account from an old job thinking about transferring to vanguard.  Just let money sit then grow over the decades. Sounds nice.
 
We have to wear Human Recreational Services loafers if we gonna chill on the tarmac. 

[Madam, I'm Adam]

If you don't know what you're doing or don't want to put in the research hours, get yourself an advisor you trust.  We've had ours for about ten years and she is solid.  A good advisor won't make you, "Wolf of Wall Street" rich overnight, but they will move your assets around in accordance with the market and set you up for the long term.  ETFs are normally the way to go with a flyer here or there.

Bump, I know bumping an old thread is like shouting into a void sometimes but I just wanted to ask -- I've been thinking about finding an advisor myself but some finance authors say that they're expensive and unnecessary. Yours is obviously working for you, did you try to do research yourself but found that an advisor is way more helpful and worth the cost? I honestly don't know whether to do it all myself or to go through an advisor. I'm reading books and trying to educate myself more but it feels overwhelming at times.

[Telly]

Expand Quote

If you don't know what you're doing or don't want to put in the research hours, get yourself an advisor you trust.  We've had ours for about ten years and she is solid.  A good advisor won't make you, "Wolf of Wall Street" rich overnight, but they will move your assets around in accordance with the market and set you up for the long term.  ETFs are normally the way to go with a flyer here or there.

[close]

Bump, I know bumping an old thread is like shouting into a void sometimes but I just wanted to ask -- I've been thinking about finding an advisor myself but some finance authors say that they're expensive and unnecessary. Yours is obviously working for you, did you try to do research yourself but found that an advisor is way more helpful and worth the cost? I honestly don't know whether to do it all myself or to go through an advisor. I'm reading books and trying to educate myself more but it feels overwhelming at times.

You can text mr Ed Mickey Taylor.  He’s super smart

[Madam, I'm Adam]

Expand Quote

Expand Quote

If you don't know what you're doing or don't want to put in the research hours, get yourself an advisor you trust.  We've had ours for about ten years and she is solid.  A good advisor won't make you, "Wolf of Wall Street" rich overnight, but they will move your assets around in accordance with the market and set you up for the long term.  ETFs are normally the way to go with a flyer here or there.

[close]

805 - 953 - 8938

Bump, I know bumping an old thread is like shouting into a void sometimes but I just wanted to ask -- I've been thinking about finding an advisor myself but some finance authors say that they're expensive and unnecessary. Yours is obviously working for you, did you try to do research yourself but found that an advisor is way more helpful and worth the cost? I honestly don't know whether to do it all myself or to go through an advisor. I'm reading books and trying to educate myself more but it feels overwhelming at times.

[close]

You can text mr Ed Mickey Taylor.  He’s super smart

I tried but he sent me an automated message to add my contact info to some website before he could reply. Looks like I'll be missing out on the wisely ol' seer's trove of insight.

[Carrolls Chesthairs]

With talks of another shutdown, anything worth investing in?
CVS?

[Coastal Fever]

Bump.  Been doing tons of research the past few days about how to get started, and have learned a lot, but still feel like I’m at square one.  Looked into Bitcoin but the two main trading apps for it, Binance and Coinbase, have either been flooded with bad reviews recently or just seem over complicated for a newbie like me.  Looked into Wealthsimple as a trading platform, and while they seem super legit, I’m still a little wary about throwing out my SSN. 

Also considering trading through my bank, but not sure if it’s worth the extra cost vs using an app.  I know there’s countless ways to go about it, I just don’t know which to choose.  I only want to put a couple hundred into something with good long term growth, like the S&P or ARKK or something similar to get my foot in the door, then eventually get more involved.

[essal]

I use Crypto.com for my crypto currency investing.
Currently up roughly 100% since I started (included yesterdays heavy drop), I have some Bitcoin, Etherium and Elrond.

The funds I have via my bank are up 1.7% in comparison during the same time period.

I'll probably continue to put more money into "safe" crypto like Bitcoin than more into my funds. Even the payoff on high risk funds is extremely low in comparison to worst case long term Bitcoin estimates.

[ungzilla]

i'm going all in on tulip bulbs

[GardenSkater77]

i'm going all in on tulip bulbs

Diversify your bulbs digga’.

[the hilarious owen wilson]

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i'm going all in on tulip bulbs

[close]

Diversify your bulbs digga’.

i'm going all in on land. if you've got water and soil you can sustain yourself. there are conveniences and other things you can't DIY so i'm looking to get into crypto and i couldn't find their stock number but Gab is liable to go through the roof after the conservative purge on twitter and fb. other than that, i don't have any hot stocks to recommend.
but land, if the dollar holds value, you can flip it. finite resource and all that.

[fredgallSOTY]

investing aint hellride brah

[Sluggloaph]

I really want to invest in water and agriculture but unsure how to do so if anyone has tips.

Focus on water. It's really easy research and a lot is pretty affordable. But if you got Hella skill American water works, but it's pricey.

Also yeah backin the pals with the etf jawns.

[the hilarious owen wilson]

Expand Quote

Bump.  Been doing tons of research the past few days about how to get started, and have learned a lot, but still feel like I’m at square one.  Looked into Bitcoin but the two main trading apps for it, Binance and Coinbase, have either been flooded with bad reviews recently or just seem over complicated for a newbie like me.  Looked into Wealthsimple as a trading platform, and while they seem super legit, I’m still a little wary about throwing out my SSN. 

Also considering trading through my bank, but not sure if it’s worth the extra cost vs using an app.  I know there’s countless ways to go about it, I just don’t know which to choose.  I only want to put a couple hundred into something with good long term growth, like the S&P or ARKK or something similar to get my foot in the door, then eventually get more involved.

[close]

Since you're just getting started, I'd suggest Cashapp for BTC. Instant buys and withdrawals. Once you get more into it, check out legit exchanges such as Coinbase Pro, Gemini, Kraken, etc. if you want to move into other cryptos and divesify.

Robinhood is super simple for stocks too. I wouldn't suggest keeping long term holds on there though. Use a legit brokerage if you want to build up long term investments. Schwab, TD, Fidelity, etc. are all easy to sign up and get started.

Every legit brokerage requires personal information to sign up and there are no ways around it (for traditional investing).

Look into opening a Roth IRA if your looking to build a long term, tax advantaged investment for retirement. I max mine out every year with a target date index fund that pretty much tracks the S&P growth. When I retire, I won't pay any tax on the gains.

what's wrong w/ longterm investments in robin hood?
what about sofi?

[Gary Gloverberg]

Browns +410 moneyline is looking great right now and Bucs Saints to hit the over should be a fun way to cap off the weekend. stocks are a gamble and unless youre in front of the ticker all day doing shorts its a waste of time.

do a yearly christmas savings account and work for a company that matches the shit out of your retirement in a nice safe target date portfolio. best short to long term investment is buying property

[TheLurper]

Anyone else throw money into some bullshit cryptocurrency and lose the password? I have some ripple sitting in a wallet that will never be used. Whoops. I thought me and the ex wrote down all the info correctly but apparently not.

Like the rest of the made up currencies it is worthless but man it'll suck if that shit is worth real money in 5 to 10 years and I'm sitting on a few million that I can't access.

As for the real stock market, this shit feels like a casino.

[Coastal Fever]

Yeah it would really suck to end up like that dude who’s sitting on 234m worth of Bitcoin, but can’t remember his password and has two tries left or he loses it.

I ended up getting Wealthsimple Invest for a roboadvised ETF and Wealthsimple Trade for Bitcoin, since I’m in Canada and WS seems to be well regarded for beginners here.  Just threw $50 in each to start and get a feel for things, before getting into active trading and cold wallets and all that jazz.

[tension]

Ive looked at a few store fronts for a shop my wife and i have been looking to open and theres LOTS of store fronts now so we put a bunch of low offers in and kinda feel confident

besides from that ive had apple stock for about a decade which rules and we have some money invested in pot and cbd

[TheLurper]

Blew it on Airbnb stock. Bought 5 shares, got cold feet, sold at a loss. It has gone up over 30 dollars per share from what I bought it at, damn.

I'm betting $100 with these WSB idiots on Blackberry. Shit seems beyond stupid to me, but GameStop at anything above a quarter seemed pretty dumb as well. A guy in my neighborhood has made an insane amount of money on GameStop. Dude was bragging about his gains on Dec 23rd when the stock was (overvalued) at 20 dollars a share. It made it over 140 today. Dude is set for life at this point.

Also, I'm still hanging on to a piece of a bitcoin. I still think it is a completely stupid/useless currency (not all that anonymous, especially if linked to a coinbase account), but watching that jump from 13k to over 30k has been exciting.

But, none of this actually matters and won't really affect my life in either direction. My AirBnB purchase was the biggest I've ever spent on a stock (5 whole shares) and I feel someone has to be going gnalry with margins or options or buying 1000s of shares at a time for things to matter.

[Coastal Fever]

What app do you use or recommend for WSB type trading?  I don’t think it’s wise for me to jump into that game yet, but man hearing stories like your neighbour’s makes me want to.  I wish I had my debt down/savings up more before getting into this stuff, the FOMO is real ha.

I initially used Wealthsimple to buy my first $50 worth of BTC, but then I wanted to buy another $50 and decided waiting 5 days for deposits is ridiculous so I pulled out.  Downloaded Newton because I read good things, but it’s down now due high activity, which is unacceptable when you want to buy on a dip.  Just got Shakepay and was able to deposit/buy within minutes.

[cky enthusiast]

index funds.

 you are not smarter than dudes who do this shit for a living. if you wanna try and win off dumb luck go right ahead but the economy is propped up by marks doing that exact same thing. i used robinhood for 6 m/o to cash in on the pandemic and then couldn’t sleep at night and cashed out and deleted it.

don’t listen to me tho i don’t have a winners mentality nor do i have generational wealth to fall back on. comme si comme sa

[Coastal Fever]

@cky enthusiast - Valid points!  I definitely don’t think I’m smarter than any career investors, but it’s a pipe dream of mine to one day be okay at it and not have to work my shitty low paying construction job until I’m cripple.  It’s funny because I’ve always been pretty anti-gambling, but there’s money to be made out there with research and little luck.  As long as you never invest more than you can comfortably lose.  Again, I know there’s more to learn than I possibly ever could.

I totally agree that index funds are the best long term option, it’s just the gains are so small it’s basically just a savings account.  I threw 50 into a roboadvisor app and my money actually went down over a couple weeks.  I wasn’t expecting immediate gains but man, pretty discouraging.

@Chatbot - I’m sorry, I’ve tried to look up info on Options trading but struggled to make sense of it.  Can you explain in dumbass terms?  Is it possible to lose more than you put in with options?  I assumed I could throw a little coin in, and worst case I lose it, best case I multiply it.. but if I’m way off please let me know.

[cky enthusiast]

why not take the money you’d spend investing and throw it towards an associates degree or something? not trying to discourage you, but there are more active steps you can take to escape manual labor hell with a better track record

[straight]

ive been trying to set up a robinhood account for a month now but don’t have a social sexurity card to verify the account .. are there any other trading apps that are easier to get started

[buffalo hunter]

AMC and Gamestop stocks are on fire lately. Gamestop is up 1000% in a few days. Heavily shorted stocks and very risky.