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Started By
Message
Late to the game and need some help
Posted on 2/22/18 at 12:23 pm
Posted on 2/22/18 at 12:23 pm
33. Divorced. Baby momma but will get married to her eventually. I'm starting to look into different ways to make my money make money for me. I've been doing some research and I'm noticing that ALOT of things are over my head. Is there anyone who would mind sitting down with me and explaining these things to me? Here's a list of some of the things I'd like to learn about:
Dividend stocks, recurring deposits, passive income, SIP's in mutual funds, dividend yielding funds, value stocks and how to flip them into real estate. ROE & ROCE stocks, exchange traded funds, cryptocurrency, index funds, & etfs, investopedia.
Dividend stocks, recurring deposits, passive income, SIP's in mutual funds, dividend yielding funds, value stocks and how to flip them into real estate. ROE & ROCE stocks, exchange traded funds, cryptocurrency, index funds, & etfs, investopedia.
3
Posted on 2/22/18 at 12:27 pm to couv1217
I would recommend talking to a financial adviser. Or save yourself some money and just use google.
Posted on 2/22/18 at 12:31 pm to ATLdawg25
quote:
Or save yourself some money and just use google
Would love to do that. I've been trying that it tends to go over my head so I want to learn about it so was hoping a fellow TD'er would be open to sitting down with me and explaining some of it.
Posted on 2/22/18 at 12:38 pm to couv1217
Go to Reddit personal finance. Read everything.
Posted on 2/22/18 at 12:47 pm to couv1217
I think you're overwhelmed but some items on your list have a quick explanation or don't really exist.
This is when you set up a set amount to be deposited into an account at certain intervals. It can apply to checking accts, savings, brokerage, 401k.
This is when you don't have to do any work to receive income. If you buy a stock that pays a quarterly dividend, you could be in a coma for 20 years but would still receive that dividend income each quarter. Some people will say owning real estate rentals is passive income, and they are wrong.
SIP stands for "systematic investment plan" and it just means that you set up a recurring deposit (see above) to put a certain amount into a mutual fund at specific intervals. you aren't trying to time the market, you are just putting in an equal amount every time no matter what.
I honestly don't know what this means.
ROE and ROCE are methods of evaluating a company's financial strength. Read up on investopedia
You mention these twice but they are the same thing. Read up on investopedia
Just a resource that puts financial concepts and terms into simple write-ups.
quote:
recurring deposits
This is when you set up a set amount to be deposited into an account at certain intervals. It can apply to checking accts, savings, brokerage, 401k.
quote:
passive income
This is when you don't have to do any work to receive income. If you buy a stock that pays a quarterly dividend, you could be in a coma for 20 years but would still receive that dividend income each quarter. Some people will say owning real estate rentals is passive income, and they are wrong.
quote:
SIP's in mutual funds
SIP stands for "systematic investment plan" and it just means that you set up a recurring deposit (see above) to put a certain amount into a mutual fund at specific intervals. you aren't trying to time the market, you are just putting in an equal amount every time no matter what.
quote:
value stocks and how to flip them into real estate
I honestly don't know what this means.
quote:
ROE & ROCE stocks
ROE and ROCE are methods of evaluating a company's financial strength. Read up on investopedia
quote:
exchange traded funds... etfs
You mention these twice but they are the same thing. Read up on investopedia
quote:
investopedia
Just a resource that puts financial concepts and terms into simple write-ups.
This post was edited on 2/22/18 at 12:51 pm
Posted on 2/22/18 at 8:24 pm to couv1217
Probably would be best for you to sit down with someone you trust and talk to them about your situation.
You can certainly google a lot of things and come up with a decent plan on your own, but chances are you'll miss something and won't realize it until several years down the road.
A lot of people don't realize that's where having a financial advisor actually saves you money.
You can certainly google a lot of things and come up with a decent plan on your own, but chances are you'll miss something and won't realize it until several years down the road.
A lot of people don't realize that's where having a financial advisor actually saves you money.
This post was edited on 2/22/18 at 8:26 pm
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