stock market

[cranialrectosis]

Good points all around. My only concern is seeing the free market as zero sum. When I buy an FT speed build kit, FT is happy to make the sale and I am happy to get my parts. We have different goals but those goals are complimentary. We both win. Even if (when) I crash, I still win because I took the risk and will learn from the results and that makes me a better person.

To answer OP, I recommend finding a good CPA. Get your books and finances in order. Manage your debt and have a solid tax plan before you invest.

Don't day trade. Think long term and diversify. I look at my stock market portfolio no more than 4 times per year. Don't invest money you can't afford to lose and (the biggie for me) don't trade altruistically. Lower your risk as you get older and have less time to recover.

To put it in FliteTest lingo, preparation and research pays off BIG time. Don't buy too much plane to handle. Learning from other people's mistakes is cheaper than learning from your own. The slower your reaction time is due to age or inexperience, the higher up or slower you need to fly.

We do this better as a group than in isolation.

There will be crashes. If there is no chance of a crash, then there is no chance of successful flight. Throwing a new plane in the air is one of the most thrilling things ever because you risk it all on that toss.

All flights end on the ground. The key is to fly as long as you can and have fun doing it. Such are life, love, the stock market and flight.

RC flight is a great tutorial for stock market investing IMO.

 

[DamoRC]

I have long decided for myself that the stock exchange is not for me. I can only guess the trends but not influence them. Isn't that an ordinary gamble? Then it's easier for me to take deposit bonus codes and try to make money. At least here I don't need a starting fund. I think this is a better option.

Reported - links to online gambling probably not appropriate.

 

[Hondo76251]

Me personally... I dont put my money into things I dont own physically. I played with some trading in the past, actually did pretty well, but I like where I'm at now. I own land, livestock, equipment, tools, and of course lead... As a self employed business owner I can take a loss once in a while but I can never lose it all.

 

[danskis]

I like the stock market. I don't put any more in it than I can lose (whatever that means). It's on sale right now. Things will recover. Some stocks such as Apple and Amazon are already back up to where they were before the fiasco - too late should have bought them 2 weeks ago. Some solid stocks will pay you 5 - 7% interest and will still go up (and down) but generally do pretty well and nothing wrong with that interest rate. But it is like flying....eventually you think you know what you're doing and crash. P.S. my wife won't touch it anymore.

 

[CMS_1961]

My 2 cents >>> Stock Market should be a LONG TERM investment of what you can afford to put in!! Diversify the investment as much as possible. If you don't know what you are doing get professional advice from a trusted Fiduciary. There is a big difference between long term investing and gambling!!! Gambling is luck, investing is a calculated plan to mitigate your risk as much as possible. There will always be risk as others have already said, but you have to look at the long term return. If you want quick money--- the stock market may not be what you want to invest in!

 

[danskis]

Or, occasionally, the stock market is on sale at 50% off. Like now.

 

[Piotrsko]

Some of it is still overpriced, lots of it is cheaper. However my crystal ball developed a crack so I don't know which is which and imho it's still way too volatile to make a big buy.

 

[danskis]

I'm with you - my crystal ball is in the same condition as yours. Thumbs twiddling....yawn

 

[Inq]

I do the stock market, but play very conservatively and only with companies I know can't die. I got in on Tesla at $200 and never looked back have some in and out in other "blue chips" like Apple, Google, Amazon... etc. When my number is called, I'll take delivery of a Tesla Cyber Truck or maybe a second gen roadster paid for by Elon. The way I look at it, I have Elon working for me.

 

[Yankee2003]

Best way to double your money………
fold it over and put it back in your pocket.
-Anonymous

 

[b-29er]

Just a thought, but if you have money that you can invest and don't need it back as an emergency fund , I bonds are a zero risk 6.89% return right now, no CPA required.

Sidenote, keep an eye out for the new bots that talk to themselves, there's like 4 of them, @ErwinSmith, @Heaven, @magnila, and @markolen.

 

[Bricks]

Just a thought, but if you have money that you can invest and don't need it back as an emergency fund , I bonds are a zero risk 6.89% return right now, no CPA required.

Sidenote, keep an eye out for the new bots that talk to themselves, there's like 4 of them, @ErwinSmith, @Heaven, @magnila, and @markolen.

They were at 9% not long ago the only bad thing is $10,000 per year max buying.

 

[b-29er]

They were at 9% not long ago the only bad thing is $10,000 per year max buying.

Yeah but if you have more than 10k a year to invest you can put the 10k in the I bond for guaranteed returns and FAFO with the stock market with what you can't I-bond. or invest in the CPA. either way at the end of the year, you have something with zero risk.

 

[Inq]

... and remind me... how much is inflation? And then be truthful with yourself... what is YOUR real inflation? Housing, food, fuel, heat. I assure you mine is far higher than the 7% to 8% being shoveled on top of us.

But, all the advice above is valid. If you're risk adverse, don't play the stock market. If you can't afford to lose it, don't invest. But really... the only stocks that go to zero are fly-by-night anyway. Invest in the Microsoft's, Telsa, Google, Amazon's of the world. Use common sense... Netflix skyrocketed during Covid (why... everyone is home-bound) Covid doors opening... everyone is outside on vacations and dinners out... Netflix dives.

I doubled the money I could invest in 4 years when I first started in 2018. This year has been a little tougher, but all the "smart" money says it's at or near the bottom... which is time to buy. The Motley Fool rarely make's one of their, "All In" recommendations. They have several out now. In theory, some may double once the next bull market comes around. And they always come around... and then another bull.

Also... weigh your pessimism/optimism. Is Putin a big enough ego maniac to want to die (of his ailments) and take everyone (USA and NATO) with him to the grave because he can? Or does someone relieve him of that ability? Is he being backed into a corner? When you have no other ammunition in the armory... what do you do?

 

[b-29er]

Any cryptocurrency and NFT recommendations? Instead of the sad stock market?

BTC is down like 60% in the last year, just go to a casino if you want to gamble

 

[Inq]

BTC is down like 60% in the last year, just go to a casino if you want to gamble

And one of these days, the US and the EU is either going to out-law it or find a way to regulate it. Then you'd be totally...

Gamble or play in penny stocks... same difference.

 

[Piotrsko]

I have I bonds. Limited to a 10k buy per year max. Not a game changer.

Stop spending, save. Half your salary over 20 years is a ton of money

 

[Merv]

To accumulate wealth, you don't need to save half you salary. Just $5.50/day is all you need.

Save $5.50/day from the day you turn 21 until you are 67 and you will be a millionaire.
With the power of compounding, it's the amount of time you save that is critical. You need to save for 45-50 years. Investing in the stock market, nothing fancy, just a no load, low management fee ETF or mutual fund investing in the broad market. You don't need to beat the market, just a simple index fund will do just fine.

 

[Piotrsko]

You do need to sweat inflation. 1mill 50 years ago was a huge chunk of money. Today it barely makes the down payment of some houses in my city

Don't forget taxes either.

 

[sulesulena]

Hey, diving into the stock market is a great idea! Start by learning the basics. There are plenty of beginner-friendly books, online courses, and resources. Consider opening a brokerage account, like Robinhood or E*TRADE, to get hands-on experience with buying and selling stocks.

As for investing in Dollar Tree, it's a fun idea, but remember to diversify your portfolio. Don't put all your eggs in one foamboard basket! 😄 Research different stocks, industries, and risk levels to build a balanced portfolio that suits your financial goals and risk tolerance.

Lastly, patience is key in the stock market. It can be volatile, so don't get discouraged by short-term fluctuations. Happy investing!

How is going your portfolio?

This discussion brings up an excellent point about the free market not being a zero-sum game, and I couldn't agree more. The example of purchasing an FT speed build kit perfectly illustrates how transactions can be mutually beneficial. Both the buyer and the seller achieve their goals, embodying the essence of a win-win situation. This perspective is refreshing, especially in a competitive space like trading, where platforms like raceoption come into play, offering opportunities for growth and learning. Embracing risks and learning from outcomes, even in crashes, indeed makes us better individuals. It's about the journey, not just the destination, and with raceoption, every trade can be a step towards personal improvement.