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Started By
Message
re: Need Advice for First Time Investor
Posted on 5/30/24 at 11:33 am to Lolathon234
Posted on 5/30/24 at 11:33 am to Lolathon234
quote:
Rental properties(at least excluding multi-units) are mostly unprofitable.
incorrect. with great RTV's and great cashflow mine are unprofitable? guess what? mine have appreciated greatly also and they were not bought for that.
quote:
But even then, you’re essentially playing the market and won’t make money until selling,
which means you bought wrong in the first place if you have shite RTV and shite cashflow. if numbers were not good for it being a rental or if numbers were shite for it being a flip you should have never bought anyway.
quote:
Lolathon234
quote:
Texas Member since Oct 2022 226 posts
post less or run back to the cesspool aka OT trash
This post was edited on 5/30/24 at 12:05 pm
0
Posted on 5/30/24 at 11:36 am to fallguy_1978
quote:
Just park money in VOO until you figure out if that's your investing style. You'll essentially own the S&P 500.
if he coulda got in during COVID dip he would have made a jillion bucks by now. LINK
Posted on 5/30/24 at 11:42 am to ThrowITdeep
quote:
ANYBODY INVEST IN GOLD/SILVER STOCK?
no.
you can buy mining stocks, etfs, physical and trade gold/silver futures. those are your gold/silver investment options.
This post was edited on 5/30/24 at 11:57 am
Posted on 5/30/24 at 12:15 pm to REB BEER
When you sell your S&P 500 stock,
What % do you get?
I am green to all this
What % do you get?
I am green to all this
Posted on 5/30/24 at 12:29 pm to ThrowITdeep
quote:
Need Advice for First Time Investor
keep your losses linear and your wins nonlinear
Posted on 5/30/24 at 1:28 pm to ThrowITdeep
quote:
When you sell your S&P 500 stock,
What % do you get?
It's worth the number of shares you own times the stock price.
Mine's all in retirement so I've never cashed any in.
And finally, are you being serious with these questions or is this a troll?
Posted on 5/30/24 at 1:34 pm to REB BEER
I’m being serious.
I was never taught any of this
I was never taught any of this
Posted on 5/30/24 at 2:05 pm to ThrowITdeep
10-4. Just making sure.
Posted on 5/30/24 at 4:15 pm to ThrowITdeep
quote:Buy the US stock market all at once using an ETF. Do this monthly for the rest of your life.
I’m in my early 30s. I don’t have real estate $ to invest. But I’m interested in stocks etc. I will look at the pinned thread. Thank you
Posted on 5/30/24 at 4:15 pm to ThrowITdeep
quote:however it performed since you bought it.
What % do you get?
If you had bought the S&P yesterday at close (see the ETF SPY or VOO) then you would have lost .60% by today at close (3:00 PM central).
If you had bought SPY or VOO on the first day of the year than you would have gained roughly 10.4% so far this year.
This post was edited on 5/30/24 at 4:19 pm
Posted on 5/30/24 at 9:20 pm to ThrowITdeep
In the stock market, but only if it goes up.
No, seriously, if you are young, put it in a broad based index fund and don’t worry about the fluctuations.
No, seriously, if you are young, put it in a broad based index fund and don’t worry about the fluctuations.
Posted on 5/31/24 at 8:24 am to ThrowITdeep
Congratulations for being forward thinking. Too many at that age aren't interested in growing wealth or can't because of their lifestyle or personal circumstances.
Everyone's circumstances are different. And we don't know yours, but to me, some general thoughts are:
At your age, it's okay to be a "singles hitter" vs. a "home run hitter". What does that mean? It means if you have a plan, are disciplined to stick with it over the years, all of a sudden, you'll have more money than you'd have ever imagined. Seriously. You don't have to start a dot com or win the lottery to grow wealth. That's rare. But what you can do as an example:
1. First, start growing a cash reserve, which is like a financial safety net—an emergency fund. It’s the money you intentionally set aside to handle unexpected expenses when the shite hits the fan, and it will, trust me. You need some cash around. Some say 3-6 months expenses worth for example. Begin by setting aside a small portion of your income each month. Even if it’s just $50 or $100, consistency matters. Direct deductions make it easy. You won't notice it after a while. I have mine at Fidelity. Set amount comes out of the paycheck through direct deductions. FIDELITY GOVERNMENT MONEY MARKET (SPAXX). Yield is 4.96% right now.
2. Does your employer offer a 401k with matching? For example, my employer offers a 6% match. They contribute 6% of my salary to my 401(k) for every 6% I contribute. It’s like getting free money added to your retirement savings!
3. If not, do the same monthly investments in a Roth vs. Traditional IRA.
4. Protect you and yours. What does that mean? Unexpected financial hits can and will happen. Get the right types of insurance for your situation. Car. Health. Disability. Insurance is a crucial way to safeguard yourself financially from unexpected events.
Types.
5. Have any "play money left"? Then you can consider opening an account (mine is also at Fidelity) and start investing in stocks, mutual funds, ETFs etc. There are some solid Index Funds out there (I have FIDELITY 500 INDEX FUND). A lot of research sites out there like Morning Star or Seeking Alpha for example. Fidelity offers great research tools BTW. Put in a monthly amount. Dollar cost averaging is an automatic and disciplined approach that takes the guesswork out of market timing.
At my stage of life, I'm investing more in Income ETFs that offer some growth and higher yields. Currently like JEPQ and SPYI. There are a gazillion others and they have different objectives:
Growth vs. Income ETFs.
5. Have fun! You're young. Once you have your plan "locked and loaded", live. Trust me, your time runs out before you know it. Travel. Buy things you've always wanted (don't go overboard!).
"The journey of a thousand miles begins with one step". -Lao Tzu
What are you waiting for! Operators standing by.
Everyone's circumstances are different. And we don't know yours, but to me, some general thoughts are:
At your age, it's okay to be a "singles hitter" vs. a "home run hitter". What does that mean? It means if you have a plan, are disciplined to stick with it over the years, all of a sudden, you'll have more money than you'd have ever imagined. Seriously. You don't have to start a dot com or win the lottery to grow wealth. That's rare. But what you can do as an example:
1. First, start growing a cash reserve, which is like a financial safety net—an emergency fund. It’s the money you intentionally set aside to handle unexpected expenses when the shite hits the fan, and it will, trust me. You need some cash around. Some say 3-6 months expenses worth for example. Begin by setting aside a small portion of your income each month. Even if it’s just $50 or $100, consistency matters. Direct deductions make it easy. You won't notice it after a while. I have mine at Fidelity. Set amount comes out of the paycheck through direct deductions. FIDELITY GOVERNMENT MONEY MARKET (SPAXX). Yield is 4.96% right now.
2. Does your employer offer a 401k with matching? For example, my employer offers a 6% match. They contribute 6% of my salary to my 401(k) for every 6% I contribute. It’s like getting free money added to your retirement savings!
3. If not, do the same monthly investments in a Roth vs. Traditional IRA.
4. Protect you and yours. What does that mean? Unexpected financial hits can and will happen. Get the right types of insurance for your situation. Car. Health. Disability. Insurance is a crucial way to safeguard yourself financially from unexpected events.
Types.
5. Have any "play money left"? Then you can consider opening an account (mine is also at Fidelity) and start investing in stocks, mutual funds, ETFs etc. There are some solid Index Funds out there (I have FIDELITY 500 INDEX FUND). A lot of research sites out there like Morning Star or Seeking Alpha for example. Fidelity offers great research tools BTW. Put in a monthly amount. Dollar cost averaging is an automatic and disciplined approach that takes the guesswork out of market timing.
At my stage of life, I'm investing more in Income ETFs that offer some growth and higher yields. Currently like JEPQ and SPYI. There are a gazillion others and they have different objectives:
Growth vs. Income ETFs.
5. Have fun! You're young. Once you have your plan "locked and loaded", live. Trust me, your time runs out before you know it. Travel. Buy things you've always wanted (don't go overboard!).
"The journey of a thousand miles begins with one step". -Lao Tzu
What are you waiting for! Operators standing by.
This post was edited on 5/31/24 at 8:56 am
Posted on 5/31/24 at 8:04 pm to Nole Man
Thanks! That’s some solid advice.
I purchased some S&P500 with fidelity and looking into my companies simple IRA with Charles Schwab.
I have cash set aside and insurance for most things.
I purchased some S&P500 with fidelity and looking into my companies simple IRA with Charles Schwab.
I have cash set aside and insurance for most things.
Posted on 5/31/24 at 10:20 pm to ThrowITdeep
Consider BITO for some of your portfolio. It roughly tracks Bitcoin's daily price percentage gains/losses plus pays a massive monthly dividend. The last two monthly dividends alone, if BITO keeps it up will provide an annual yield of almost 80%. Including it's dividend, BITO outperforms Bitcoin and all of the Bitcoin Spot ETFs.
Posted on 6/1/24 at 8:43 am to 98eagle
quote:
Consider BITO for some of your portfolio. It roughly tracks Bitcoin's daily price percentage gains/losses plus pays a massive monthly dividend. The last two monthly dividends alone, if BITO keeps it up will provide an annual yield of almost 80%. Including it's dividend, BITO outperforms Bitcoin and all of the Bitcoin Spot ETFs.
Thanks for sharing that. I'm going to research it further.
I put 5% of non-retirement assets into Fidelity Crypto Industry and Digital Payments ETF (FDIG). "It is designed to reflect the performance of a global universe of companies engaged in activities related to cryptocurrency, blockchain technology, and digital payments processing".
Doesn't invest directly in cryptocurrencies themselves. Up 53.85% in a year overall, but down about 8% in 2024, so it's the best performing asset in the portfolio, but extremely volatile.
Posted on 6/1/24 at 9:23 am to Lolathon234
Generally, conventional advice/wisdom is wrong/worthless. Rental properties(at least excluding multi-units) are mostly unprofitable
_________
Terrible advice. I made a lot of money with rentals. Real estate investing is very local, meaning the local market conditions heavily determine profitability. In a growth area, real estate can easily be more profitable than the stock market. Also, the typical advice of investing in low cost index funds is very sound advice. Any of the s&p500 indexes (like VOO) would be an excellent first investment. I think the OP should just ignore your post!
_________
Terrible advice. I made a lot of money with rentals. Real estate investing is very local, meaning the local market conditions heavily determine profitability. In a growth area, real estate can easily be more profitable than the stock market. Also, the typical advice of investing in low cost index funds is very sound advice. Any of the s&p500 indexes (like VOO) would be an excellent first investment. I think the OP should just ignore your post!
Posted on 6/1/24 at 9:33 am to KTiger85
quote:
Terrible advice.
correct
quote:
I made a lot of money with rentals.
same
quote:
In a growth area, real estate can easily be more profitable than the stock market.
yes. i have always said that here and even gave examples in past threads.
quote:
Also, the typical advice of investing in low cost index funds is very sound advice. Any of the s&p500 indexes (like VOO) would be an excellent first investment
agreed. i like multiple streams of income. RE, stocks, trading, lending, etc.
VOO for him is a great start.
quote:
I think the OP should just ignore your post!
bingo!
Posted on 6/1/24 at 10:05 am to ThrowITdeep
Good start. You will do well with s&p500 if you continue to add to it, and leave it there a long time. Be patient. Let it grow.
You would do just fine by putting most of your money in s&p500 and putting smaller amounts into a few individual stocks. Nvdia has been a winner the past few years. Google, Microsoft, Home Depot, Waste Mgmt all have steady growth. This approach served me well. The 500 is a safe bet, and the individual stock picks kept me interested and helped me learn about investing over the years. What stocks you pick can be less important than
building a discipline of regularly adding money to your investments.
Fund a retirement account as well, especially if your employer offers a "match". I would fund a Roth type retirement account first, then fund a traditional retirement (IRA, 401k) later when you are in a higher tax bracket.
Best wishes.
You would do just fine by putting most of your money in s&p500 and putting smaller amounts into a few individual stocks. Nvdia has been a winner the past few years. Google, Microsoft, Home Depot, Waste Mgmt all have steady growth. This approach served me well. The 500 is a safe bet, and the individual stock picks kept me interested and helped me learn about investing over the years. What stocks you pick can be less important than
building a discipline of regularly adding money to your investments.
Fund a retirement account as well, especially if your employer offers a "match". I would fund a Roth type retirement account first, then fund a traditional retirement (IRA, 401k) later when you are in a higher tax bracket.
Best wishes.
Posted on 6/1/24 at 12:47 pm to ThrowITdeep
Thought I'd add my experiences with rental properties. It depends on your area of the country, and prevailing trends, BUT..I think it's the singular best way to grow significant wealth over time.
Redfin (Nashville Example) has some fairly good market information you can use to glean trends in your area.
We've bought and sold 5 rental properties over the past 20 years. Still have 2 units. Wife (no pics) is a realtor, so we can scan for future opportunities (sometimes the general public doesn't even see listings coming up).
NOW..Despite making some significant coin on the transactions, and we get great rental income (Nashville area is a VERY tight rental market), you have to have a "landlord's mindset" to deal with all the shite you have to deal with over the years. Best advice I ever got was "don't rent to someone you wouldn't want to have dinner with". We're blessed these days with great, stable tenants that don't leave us in a lurch, pay their rent on time and take care of the place. We plan on keeping the remaining units, but keep in mind when you do sell you’ll likely be subject to capital gains tax. And if you took depreciation, a portion of the gain may be subject to depreciation recapture tax. If you're retired or on social security, it could bump your income level due to the "IRMAA Calculation", which is an increased premium that some Medicare beneficiaries pay based on their income. It was an unexpected hit for us. Lesson learned.
Good tax article.
Rental properties involve significant financial investments, so taking precautions and seeking professional guidance can help you avoid these pitfalls. BUT..We've made a lot of money on the ones we had FWIW.
Redfin (Nashville Example) has some fairly good market information you can use to glean trends in your area.
We've bought and sold 5 rental properties over the past 20 years. Still have 2 units. Wife (no pics) is a realtor, so we can scan for future opportunities (sometimes the general public doesn't even see listings coming up).
NOW..Despite making some significant coin on the transactions, and we get great rental income (Nashville area is a VERY tight rental market), you have to have a "landlord's mindset" to deal with all the shite you have to deal with over the years. Best advice I ever got was "don't rent to someone you wouldn't want to have dinner with". We're blessed these days with great, stable tenants that don't leave us in a lurch, pay their rent on time and take care of the place. We plan on keeping the remaining units, but keep in mind when you do sell you’ll likely be subject to capital gains tax. And if you took depreciation, a portion of the gain may be subject to depreciation recapture tax. If you're retired or on social security, it could bump your income level due to the "IRMAA Calculation", which is an increased premium that some Medicare beneficiaries pay based on their income. It was an unexpected hit for us. Lesson learned.
Good tax article.
Rental properties involve significant financial investments, so taking precautions and seeking professional guidance can help you avoid these pitfalls. BUT..We've made a lot of money on the ones we had FWIW.
This post was edited on 6/1/24 at 12:49 pm
Posted on 6/2/24 at 9:04 am to Nole Man
Good post. The OP is either trolling us or so new to investing that he should stick with the stock market until he is more savvy financially speaking. Real estate is a great investment, but can go wrong easily. My path was to build some wealth in the stock market, then use that to make very good money in real estate. Real estate investing feels risky for one without a good financial base.
Biggest message for one at his stage is to focus on spending less than he makes, then practice discipline and patience in the market.
Biggest message for one at his stage is to focus on spending less than he makes, then practice discipline and patience in the market.
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