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Posted on 7/19/20 at 9:10 am to jlovel7
I started when Covid hit. Figured I could buy low on stocks I felt safe would come back.
I just got 30 shares in Nokia this morning. They are in the 5g tower race and at less than 5 a share I liked the play
I just got 30 shares in Nokia this morning. They are in the 5g tower race and at less than 5 a share I liked the play
Posted on 7/19/20 at 9:11 am to jlovel7
I have 3 kids so any extra money I have after bills, food, and some luxury usually goes towards them.
Family owns land so mineral rights and timber are my retirement plus company retirement
Family owns land so mineral rights and timber are my retirement plus company retirement
Posted on 7/19/20 at 9:11 am to OysterPoBoy
quote:
We invested in a nice travel trailer a few years ago.
That is not an investment, it's a liability. Especially if it is financed. If it's new, it depreciated the minute you pulled it off the lot and it will continue to depreciate.
Posted on 7/19/20 at 9:15 am to jlovel7
Only pot stocks
Posted on 7/19/20 at 9:16 am to Privateer 2007
quote:
People live beyond their means.
I joke with the wife that I'd bet we have highest income in subdivision.
People buy the most expensive car, house, etc they can get financed for.
This. We’re also probably the youngest family on the street.
Posted on 7/19/20 at 9:17 am to Gatorbait2008
quote:
I just got 30 shares in Nokia this morning. They are in the 5g tower race and at less than 5 a share I liked the play
And they pay a dividend averaging 4.5%. Sweet!
Posted on 7/19/20 at 9:18 am to jlovel7
quote:
always see people talking about the investor class in opposition of the middle class. Well I’m firmly middle class right now and I’ve already got a nice portfolio started because when I first started out in the working world I made sure to dedicate a slice of my income to my required debts, to my required bills, to investing for retirement And savings, and then to anything else that were luxuries.
Two main points:
1) no. Most are paycheck to paycheck with little to no savings.
2) your investments would Likely be laughed at by an investor
Posted on 7/19/20 at 9:22 am to StringedInstruments
quote:
Bezos for example has added billions and billions to his portfolio while most of America has experienced either a recession or worse, extreme hardship due to the pandemic.
Horrible example. Bezos got billions more in the past few months because Amazon stock shot through the roof due to being the logical replacement of being able to leave home for shopping. His net worth is 90%+ ownership of Amazon. He life’s and dies by it.
So it wasn’t by savvy moving and shaking he increased wealth here.
Posted on 7/19/20 at 9:23 am to shackleford318
quote:
If middle class is 50k per year than that’s not enough to invest if you have a mortgage and kids. Middle class should be 100k to 200k per year.
And therein lies the problem. Wages have not caught up to expenditures. Which means people need to be more disciplined with their money and stop feeding the monster. But it’s hard to say that when you have kids and want them to go to the best schools available. If that means stretching your budget to buy the $400k house instead of the $300k house, you will do it.
My brother finally figured it out and moved to the sticks after he got a new job. Has an acre and a decent house for around $200k to $250k. He scrapes everything he can together. 3 kids and a mortgage on a $70k or something salary. Maybe it’s $90k. I don’t know. Doesn’t matter. He’s pretty solidly middle class. Would be shocked if he has much in investments beyond a meager contribution to 401k.
Posted on 7/19/20 at 9:23 am to jlovel7
a number of them have 401ks, so, yes, they invest.
Posted on 7/19/20 at 9:24 am to NoSaint
quote:
2) your investments would Likely be laughed at by an investor
I dont think people, in general, are that mean. Everyone started somewhere. And most people will remember that.
A better example would be that a successful financial advisor wouldn't schedule any time in the day to help.
Posted on 7/19/20 at 9:27 am to meansonny
quote:
better example would be that a successful financial advisor wouldn't schedule any time in the day to help.
Sure. Overall point unchanged.
and plenty started on 3rd base while this guy is still at the batting cage.
Nothing wrong with either end of that but I think it’s fair to acknowledge the wide gulf between the two
This post was edited on 7/19/20 at 9:28 am
Posted on 7/19/20 at 9:31 am to jlovel7
When I hear “investor class” I imagine someone that has enough capital to live off of investments and doesn’t pull a typical paycheck from an employer.
Posted on 7/19/20 at 9:32 am to NoSaint
quote:
Sure. Overall point unchanged
Agreed
quote:
and plenty started on 3rd base while this guy is still at the batting cage.
I've wondered about the definition of "plenty".
What percentage of Americans do you think had a trust fund for them?
Personally, I think it is overstated about how many people "start" on third base. From the starting line in a race, it is difficult to have proper depth perception and distinguish how far ahead people really are. At the starting line, all that is known is that a lot of people are ahead. The distance is muddled.
quote:
Nothing wrong with either end of that but I think it’s fair to acknowledge the wide gulf between the two
I'm curious to you opinion of people starting with trust funds. It is a wide gap to people with trust funds. I just dont think that many people start there.
Posted on 7/19/20 at 9:33 am to jlovel7
quote:
Thoughts?
Focus on yourself. I know it’s old fashioned, but it makes for a much happier life.
Posted on 7/19/20 at 9:35 am to jlovel7
quote:
Does the middle class not invest?
im pretty firmly middle class right now, and i don't invest outside of a 401k that i contribute up to my company's match each paycheck. i probably should, but i don't feel as though i know enough about it to get started, and i definitely don't like making uninformed decisions.
i wouldn't have a ton to invest in the market, but im in that spot where i have an emergency fund in savings, i don't really look at my bank account or even notice when i get paid (i know when, it just doesn't really matter), and don't have any debt.
my downsides to getting involved are that id like to continue building towards a down payment on a house in the next 12-24 months and that im fairly risk averse financially. how liquid can i remain? what should i do?
Posted on 7/19/20 at 9:38 am to Ramblin Wreck
quote:
Energy, banks, airlines are all great deals now.
Why do you think the market is providing “a good deal” on these sectors?
Posted on 7/19/20 at 9:42 am to Screaming Viking
quote:
When the wealthy buy something like a boat, they pay cash, for example.
Why would a wealthy person do that, when they can, oh I don’t know, invest it and make more money.
Posted on 7/19/20 at 9:43 am to rockchlkjayhku11
How old are you?
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