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Starting Investment Account- What to Do
Posted on 1/4/18 at 3:49 pm
Posted on 1/4/18 at 3:49 pm
This post was edited on 1/13/18 at 7:31 pm
7
Posted on 1/4/18 at 3:59 pm to bigballer1598
Crypto just crypto.
Posted on 1/4/18 at 4:02 pm to LZ83
quote:
Crypto just crypto.
Oh Jesus Christ. Crypto is in the arena of pure speculation/gambling, its not an asset class to take seriously at the moment.
Posted on 1/4/18 at 4:03 pm to southernelite
quote:
Oh Jesus Christ. Crypto is in the arena of pure speculation/gambling, its not an asset class to take seriously at the moment.
say that to my 300% returns you moron.
enjoy your 1% return bonds
This post was edited on 1/4/18 at 4:04 pm
Posted on 1/4/18 at 4:04 pm to bigballer1598
I like vanguard funds personally. Can buy some of them on robinhood and dont have to pay trade fees.
Posted on 1/4/18 at 4:06 pm to bigballer1598
I have an American funds mutual fund. Getting 12% on that. 401k is at 19%.
There you go southernlite. I have “real” investments, too.
There you go southernlite. I have “real” investments, too.
This post was edited on 1/4/18 at 4:08 pm
Posted on 1/4/18 at 4:10 pm to bigballer1598
It really depends on you and what you are comfortable with. I started investing in mutual funds about 10 years ago. Started with a growth fund (more aggressive) and a less aggressive fund. The growth has earned an annual return of 13% and the other one has earned an annual return of 12%, which is actually a lot better than I was anticipating.
Also start thinking about IRA's. I later put some money in both traditional (rolled over a 401K from previous job) and Roth. I max out my Roth contributions every year if I can. So far, my traditional IRA has earned about 12% annual return and Roth IRA has earned 12.5% for about 10 years.
Also start thinking about IRA's. I later put some money in both traditional (rolled over a 401K from previous job) and Roth. I max out my Roth contributions every year if I can. So far, my traditional IRA has earned about 12% annual return and Roth IRA has earned 12.5% for about 10 years.
This post was edited on 1/4/18 at 4:13 pm
Posted on 1/4/18 at 4:11 pm to southernelite
quote:
Oh Jesus Christ. Crypto is in the arena of pure speculation/gambling, its not an asset class to take seriously at the moment.
401k
IRA
Crypto
feels so good
Posted on 1/4/18 at 4:20 pm to SUB
Who is your account with? Also, don't believe I'll be able to open IRA yet because I don't technically have an income.
Posted on 1/4/18 at 4:22 pm to jsk020
southern elite has been arguing against crypto on here since 2015
while bragging about making 15% a year on his roth
cringe
while bragging about making 15% a year on his roth
cringe
Posted on 1/4/18 at 4:22 pm to bigballer1598
Had a friend in college who opened an IRA and he was a student as well.
Also, if you don't have a large chunk of money to put in like when I opened one, you can still get access to some of the mutual funds if you agree to a certain amount of automatic deposit each month. Worth keeping in mind.
Also, if you don't have a large chunk of money to put in like when I opened one, you can still get access to some of the mutual funds if you agree to a certain amount of automatic deposit each month. Worth keeping in mind.
Posted on 1/4/18 at 4:36 pm to rocket31
He’s just scared.
Posted on 1/4/18 at 4:45 pm to jsk020
quote:
say that to my 300% returns you moron.
A. I doubt you made that on $20k, if you do, you have balls of steel, and you’re an idiot.
B. This is over what? 3-6 months max? Check in over a few year period and see how you do.
C. You could be out that 300% in a flash
My largest open position in my portfolio is currently +75%.
This post was edited on 1/4/18 at 4:46 pm
Posted on 1/4/18 at 5:00 pm to bigballer1598
At your age, I would be 90% stocks, 0% bonds. Vanguard index funds are a popular choice.... and 10% crypto. There’s no reason crypto can’t be part of an aggressive, diversified portfolio.
Even if you lose it all on crypto, in Donald Trump’s America you will make it all back through your stock portfolio within a year.
Even if you lose it all on crypto, in Donald Trump’s America you will make it all back through your stock portfolio within a year.
Posted on 1/4/18 at 5:20 pm to bigballer1598
quote:
I don't technically have an income
quote:
bigballer
Posted on 1/4/18 at 5:21 pm to GEAUXT
but seriously, Vanguard is a good place to start
Posted on 1/4/18 at 6:18 pm to bigballer1598
For your well-being, avoid any advice suggesting crypto and even particular stocks. Everyone here is anonymous, and we won't suffer if our suggestions lose you money. Furthermore, if you need someone to point out a possible opportunity, then you will also need that person to point out when to get out, profitably or otherwise. Feel free to learn from others, but do your own research if you're interested in any suggestions.
Since you know very little, I'd argue the best thing to do is throw the money into a (Roth) IRA and invest it in Vanguard index funds while you learn. Investopedia is a great start. The stickied thread at the top of this board is also good, and the folks here can answer other questions that you might have. Depending on what you're wanting to know, I might have some good tidbits/free resources available, assuming I actually see your question in a timely manner...
Final advice:
1. Stay away from WallStreetBets on reddit unless you'd like to lose money.
2. After your investing education, you may decide to just stick with index funds.
3. 99.99% of the time, no one is going to sell, let alone give away, a profitable trading strategy. If the strategy actually works, the seller can make much more money implementing it. The only exceptions I'm aware of are trading mentors and Mark B. Fisher. If you want Fisher's reason, just ask. This post is already too long.
Since you know very little, I'd argue the best thing to do is throw the money into a (Roth) IRA and invest it in Vanguard index funds while you learn. Investopedia is a great start. The stickied thread at the top of this board is also good, and the folks here can answer other questions that you might have. Depending on what you're wanting to know, I might have some good tidbits/free resources available, assuming I actually see your question in a timely manner...
Final advice:
1. Stay away from WallStreetBets on reddit unless you'd like to lose money.
2. After your investing education, you may decide to just stick with index funds.
3. 99.99% of the time, no one is going to sell, let alone give away, a profitable trading strategy. If the strategy actually works, the seller can make much more money implementing it. The only exceptions I'm aware of are trading mentors and Mark B. Fisher. If you want Fisher's reason, just ask. This post is already too long.
Posted on 1/4/18 at 6:21 pm to GEAUXT
Vanguard account with index and mutual funds is a good start
Posted on 1/4/18 at 9:04 pm to bigballer1598
Do you live near a Scottrade location? Go pay a visit.
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