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Re: So...I just got on the stock market...
Wondering if anyone has any advice...
I was very reluctant to do this...as I really don't understand what the stock market is...
But I have a friend who I trust a great deal who basically said he'd do it all for me and explain it all later. He insisted that I stop wasting the tax incentives and compound interest opportunities.
What is everyone's experience thus far on the market?
- Smoking Guns
- Rep: 330
Re: So...I just got on the stock market...
Mitch, how much money you looking to start with? Get stuff that pays a good dividend. I don't like to buy a lot of stuff where I am hoping for the stock to go up. I like the constant dividend that compounds over time. There are a lot of stocks under $10 per share that pays a good dividend.
Re: So...I just got on the stock market...
Wondering if anyone has any advice...
I was very reluctant to do this...as I really don't understand what the stock market is...
But I have a friend who I trust a great deal who basically said he'd do it all for me and explain it all later. He insisted that I stop wasting the tax incentives and compound interest opportunities.
What is everyone's experience thus far on the market?
I'm not very active on it tbh, because it's something you really need to stay on top of. Considering Trump is in office, I'd get in early and get out within 2 years. You should have high gains pretty early on but consider history, deregulations under republican Presidents are great early on but always, always, always turn into a cataclysmic disaster. Every single time.
- Smoking Guns
- Rep: 330
Re: So...I just got on the stock market...
There are companies that historically always pay great dividends no matter what.
- Smoking Guns
- Rep: 330
Re: So...I just got on the stock market...
If I were to get in, I'd buy Disney and Take-Two Interactive Software Inc as they're going to have huge years.
It depends how much you have. Let's say you have $500. You going to buy just a few shares or are you going to buy a good stock cheap that pays a dividend and start small? I have a lot of Apple stock, made over $5,000 yesterday on Apple alone. But if I was going to start with say $1,000 I could only get 10 shares. I would rather buy Regions Preferred stock that pays a 6% dividend.
Re: So...I just got on the stock market...
Set it & forget it. Invest in funds, not individual stocks. Honestly, do not let this guy go all gung ho thinking he's got the market beat. I worked customer service for a 401k company years ago, you'd be shocked how little the avg persons 401k is. Like a few thousand. Getting in young & early is the best thing you can do. Even if your not young.
Some funds invest by age range (ie. Fidelity20, Fidelty30, Fidelity40 etc). Otherwise safer funds versus higher risk. High risk if you're young & just gonna sit on it (not move it around all the time or cash it out in 5 years). International is where I have a good chunk of my 401k. Volitale, but its done me well over time.
Re: So...I just got on the stock market...
Mitch, how much money you looking to start with? Get stuff that pays a good dividend. I don't like to buy a lot of stuff where I am hoping for the stock to go up. I like the constant dividend that compounds over time. There are a lot of stocks under $10 per share that pays a good dividend.
I put in 5,500 on an IRA...I don't even know if I'm using this term correctly. That was the max. contribution for tax...as I'm sure you already know.
I'm not very active on it tbh, because it's something you really need to stay on top of. Considering Trump is in office, I'd get in early and get out within 2 years.
This is interesting to me...do real investors ever 'get out?' for awhile? I thought it was more of a set it and forget it like PaSnow is saying.
I don't quote know the different between 401ks and IRAs except one you pay tax on now and one later...right?!
- Smoking Guns
- Rep: 330
Re: So...I just got on the stock market...
Mitch, how much money you looking to start with? Get stuff that pays a good dividend. I don't like to buy a lot of stuff where I am hoping for the stock to go up. I like the constant dividend that compounds over time. There are a lot of stocks under $10 per share that pays a good dividend.
I put in 5,500 on an IRA...I don't even know if I'm using this term correctly. That was the max. contribution for tax...as I'm sure you already know.
I'm not very active on it tbh, because it's something you really need to stay on top of. Considering Trump is in office, I'd get in early and get out within 2 years.
This is interesting to me...do real investors ever 'get out?' for awhile? I thought it was more of a set it and forget it like PaSnow is saying.
I don't quote know the different between 401ks and IRAs except one you pay tax on now and one later...right?!
$5,500 is good. You are in a Roth IRA I bet so all earnings are TAX FREE!!!! look up SO... utility company, pays great dividends and make sure you reinvest.
- Smoking Guns
- Rep: 330
Re: So...I just got on the stock market...
Funds and ETFs are good. Vanguard is considered the best but all big companies have good ones.
