Well, thousandaire can be an extra $2k in savings or $999,999.99. So, if you have $2k, I don’t recommend it because you should only do stocks if you have money you can lose without hurting. LOL.
Don’t buy right now; stockpile your capital and wait until things are a bit more settled. As a new trader, you will not win right now. The current landscape is for advanced traders who are comfortable with calls, puts, etc.
While you’re waiting on that, do some research on a sector or sectors you’re most familiar with. I recommend dividing your strategy into tranches:
40% of your investment into companies within your sector that you are familiar with/researched on.
30% in index funds; set it and forget it and check back in 7 years.
20% in blue chip stocks; companies that have been around for awhile and weathered multiple economic downturns and are still standing. Check on these quarterly.
10% in risk trading; bets on volatile companies, risky entities, newcomers, etc. Check this daily/weekly.
Just stop panicking. Keep investing your weekly/monthly ETF rate and stay in it for the long run. It’s really that simple, unless you literally just started investing last year and are about to retire.
Don’t gamble (at least not without money you don’t have), and don’t listen to reddit advice.
I let a financial advisor do my investing for me, and she has done really well with my portfolio over the past 15 years. She meets with me twice a year and emails us regularly to keep us informed, and I trust her to do what is best. Today I emailed her and asked if she needed a neck brace for today’s whiplash and she says she very well might lol
You’re probably better off doing something else like putting a down payment on a house you can rent out. Less than 50k in the stock market is basically gambling all of it to maaaaybe get like $5k return max. For me I’d rather buy something with the 50k than flip a coin for either $0 or 55k
I got lucky and went all in on the Covid dip. I had about $20k in savings but was really conservative with my investing (like 70% bonds as a 24 year old lol). Then Covid dropped it all and I put everything into an array of ETFs.
Pretty much you need to be sitting on cash to capitalize and to do that you need savings. And then you also need luck.
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Open an account with a broker (its easy, you can do it online) and deposit money, and go.
You open an account with a broker, there are tons online, deposit money, and buy whatever you want.
Well, thousandaire can be an extra $2k in savings or $999,999.99. So, if you have $2k, I don’t recommend it because you should only do stocks if you have money you can lose without hurting. LOL.
Robinhood.
101 version: open a brokerage account. Fund it. Buy an index fund like SPY. Do not look at it day to day
Two big strategies I have:
Put every penny you can into the market.
Downturns are good for long-term buys. not a quick buck. think Bluechip’s but like someone said earlier don’t take advice from reddit on this.
just pointing you where to look.
Rule #1: Don’t catch a falling knife.
Don’t buy right now; stockpile your capital and wait until things are a bit more settled. As a new trader, you will not win right now. The current landscape is for advanced traders who are comfortable with calls, puts, etc.
While you’re waiting on that, do some research on a sector or sectors you’re most familiar with. I recommend dividing your strategy into tranches:
40% of your investment into companies within your sector that you are familiar with/researched on.
30% in index funds; set it and forget it and check back in 7 years.
20% in blue chip stocks; companies that have been around for awhile and weathered multiple economic downturns and are still standing. Check on these quarterly.
10% in risk trading; bets on volatile companies, risky entities, newcomers, etc. Check this daily/weekly.
Just stop panicking. Keep investing your weekly/monthly ETF rate and stay in it for the long run. It’s really that simple, unless you literally just started investing last year and are about to retire.
Don’t gamble (at least not without money you don’t have), and don’t listen to reddit advice.
I let a financial advisor do my investing for me, and she has done really well with my portfolio over the past 15 years. She meets with me twice a year and emails us regularly to keep us informed, and I trust her to do what is best. Today I emailed her and asked if she needed a neck brace for today’s whiplash and she says she very well might lol
Robinhood account.
VTSAX and chill ?
You’re probably better off doing something else like putting a down payment on a house you can rent out. Less than 50k in the stock market is basically gambling all of it to maaaaybe get like $5k return max. For me I’d rather buy something with the 50k than flip a coin for either $0 or 55k
Step 1: buy the index
Step 2: forget your password
Step 3: wait 20 years
Step 4: ?????
Step 5: profit
i make small investments everyday, buy going up, buy going down. Over a long enough time frame, you are always up. Never sell, only buy.
Go to r/bogleheads and read up on the wiki about long term investment
Don’t invest any amount of money you’re not comfortable losing. If you’re losing sleep over it, you’ve invested too much.
I got lucky and went all in on the Covid dip. I had about $20k in savings but was really conservative with my investing (like 70% bonds as a 24 year old lol). Then Covid dropped it all and I put everything into an array of ETFs.
Pretty much you need to be sitting on cash to capitalize and to do that you need savings. And then you also need luck.