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zbeaux13
LSU Fan
Margaritaville
Member since Feb 2014
21 posts

New to investing
Good evening folks, new guy here just wanted to introduce myself before I asked for some knowledge and insight. Hope everyone is having a good week so far!

I have recently graduated from LSU and I am looking to start building my stock portfolio. Besides from my savings, I have a small amount invested in a franklin high yield account. I believe the time is right to start expanding my investments.

Since I admittedly do not have an abundance of knowledge in this area, I'm turning to y'all for some suggestions. Any advice or pointers you could offer about what are a few good companies to begin my portfolio with would be greatly appreciated! Thank you!


RedStickBR
LSU Fan
Member since Sep 2009
13419 posts

re: New to investing
Invest in a few blue chips that pay substantial dividends, preferably in a dividend reinvestment program. Collect your dividends as you learn as much as you can about the companies and the various factors which impact their stock prices.


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Mr.Perfect
LSU Fan
Louisiana
Member since Mar 2013
16817 posts

re: New to investing
Obligatory buy low sell high


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jimbeam
USA Fan
University of LSU
Member since Oct 2011
57736 posts

re: New to investing
Open an IRA if you haven't. Look into roth vs traditional on google or the like.
Start putting into a 401k if you haven't.

Lots of people on here are partial to index funds which take a lot of guesswork out of investing


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foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
40599 posts

re: New to investing
For n00bs with not very much money at all I suggest a couple of things:

1) The usual choice (and it is what I do myself) is to set aside as much as you can each month in a tax-deferred account such as a IRA or 401(k). I like the Roth since you can pull out contributions at any time without any penalty - this means it can double as an emergency fund while you build it up and still get the tax break.

2) Or (stay with me for a second) you can take up day trading. Not to get rich, but to figure out early when there isn't much to risk that yes, the market really is tough to beat and learn what your risk tolerance is. I've seen too many bored retirees decide they can get rich by day trading naked options, and yes you can do okay for awhile. Until it goes to hell. Better to learn this early while you can recover with future earnings.


I Love Bama
Alabama Fan
Alabama
Member since Nov 2007
36280 posts

re: New to investing
Step 1: Be good looking

Step 2:Buy a shitty duplex and rent it to section 8.

Step 3: Ball so hard mother fucas wanna fine you

Step 4: Repeat





jimbeam
USA Fan
University of LSU
Member since Oct 2011
57736 posts

re: New to investing
quote:

Step 1: Be good looking
Check


I Love Bama
Alabama Fan
Alabama
Member since Nov 2007
36280 posts

re: New to investing


zbeaux13
LSU Fan
Margaritaville
Member since Feb 2014
21 posts

re: New to investing
Thanks for the responses fellas! Thinking I will split what I have set aside to invest between a 401k and a few different blue chips.

Any thoughts on if I should keep the high yield account I already have? It's not producing anything currently.


WinnPtiger
TCU Fan
Arlington
Member since Mar 2011
14397 posts

re: New to investing
quote:

Any thoughts on if I should keep the high yield account I already have? It's not producing anything currently.



I'm definitely not going to lecture you, as of this May I will also be a recent LSU graduate, but I would think it's not terrible to keep the account. I would take the advice from above about doing some small scale day trading so you can passively teach yourself the right ways to go about stock research. Check some blue chippers yearly trends, like dips in Feb. and highs in Oct. for example


thebrowns
LSU Fan
Baton Rouge
Member since Oct 2013
168 posts

re: New to investing
Start a Roth IRA asap.

You'll thank me in 20 years.


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LSUregit
LSU Fan
Member since Dec 2013
1123 posts
 Online 

re: New to investing
diversify, dollar cost average and don't miss a month


zbeaux13
LSU Fan
Margaritaville
Member since Feb 2014
21 posts

re: New to investing
Just an update: Went ahead and opened a Roth IRA. Started small with $5k in the account. Putting $100 in per month.

Strongly considering adding blue chips in the future.

Thanks for everyone's assistance.


LSUfan20005
LSU Fan
Member since Sep 2012
5856 posts

re: New to investing
You "recently graduated" and had $5k to throw into a Roth?...you are already ahead of the pack my friend.


zbeaux13
LSU Fan
Margaritaville
Member since Feb 2014
21 posts

re: New to investing
Thank you sir!

I worked throughout college and always set some aside. Parents gave me a financial gift at graduation, which is what made my emergency fund. I've been very lucky and want to continue being financially responsible. While I am not making a ton of money at the moment, I feel making a monthly deposit in the Roth IRA is very important.
This post was edited on 2/6 at 3:34 pm


Oenophile Brah
LSU Fan
The Edge of Sanity
Member since Jan 2013
7415 posts
 Online 

re: New to investing
quote:

Started small with $5k in the account. Putting $100 in per month

You realize you only have $500 left to reach the yearly maximum?

ETA: If you were able to set the $5k as a 2013 contribution you are ok.



This post was edited on 2/6 at 3:45 pm


zbeaux13
LSU Fan
Margaritaville
Member since Feb 2014
21 posts

re: New to investing
quote:

You realize you only have $500 left to reach the yearly maximum?

ETA: If you were able to set the $5k as a 2013 contribution you are ok.


That is my understanding. Does the amount that is reinvested within the account count towards the $5500 max?


Oenophile Brah
LSU Fan
The Edge of Sanity
Member since Jan 2013
7415 posts
 Online 

re: New to investing
quote:

Does the amount that is reinvested within the account count towards the $5500 max?

Do you mean dividends?

Or are you talking about your own future contributions?


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dcrews
UNO Fan
Baton Rouge
Member since Feb 2011
23285 posts

re: New to investing
quote:

Just an update: Went ahead and opened a Roth IRA. Started small with $5k in the account. Putting $100 in per month.


Just an FYI, assuming you haven't contributed anything to your Roth prior to that $5k, you can contribute $5500 and allocate it to the 2013 tax year (up until April 15th, 2014, the tax deadline), then you can contribute another $5500 and allocate it to the 2014 tax year. Thus giving you $11,000 worth of contributions in "one year".

quote:



That is my understanding. Does the amount that is reinvested within the account count towards the $5500 max?



I'm pretty new to all this, but I believe the $5500 limit only speaks to YOUR contributions. Not that your account can never go over $5500 in total (contributions+earnings)
This post was edited on 2/6 at 4:04 pm


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AngryBeavers
LSU Fan
Member since Jun 2012
4554 posts

re: New to investing
quote:

While I am not making a ton of money at the moment, I feel making a monthly deposit in the Roth IRA is very important.


It's not about how much you make it's about how much you invest. I have friends that earn twice as much as I do and do not save close to half of what I invest every month.


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