I have some extra cash laying around so instead of spending it on dumb stuff (I'm prone to that) I decided to start investing. I signed up for Fidelity last night, since that is where my IRA is, and made some trades this morning. So far I'm up $12 .
Anybody else do this for fun? What do you invest in? Any tips for a noob?
I let my financial advisor take care of it all. We've been with
Ameriprise Financial for a little over 2 years and our investments have done well. When Covid hit we lost about $11K but we have increased steadily since then and have made up more than 2x that amount in the last year.
I'm a very boring investor - all index mutual funds. It won't get me rich quick, but it will likely get me there eventually.
JL Collins has some good stuff on this. His Stock Series did a lot to put my mind at ease about investing. Link:
https://jlcollinsnh.com/stock-series/ Even better is his book, which is just a cleaner presentation of the same material.
I invested at an early stage of Doge coin when it was first taking off. I put in 20$ and pulled out $600. I am somewhat of an investment expert.
But its something that I want to start doing I just dont even know where to begin. I'm the only income so finding the funds to invest in the first place is difficult.
I let my financial advisor take care of it all. We've been with Ameriprise Financial for a little over 2 years and our investments have done well. When Covid hit we lost about $11K but we have increased steadily since then and have made up more than 2x that amount in the last year.
Good job staying the course. I'm happy to say I did too. I know some people who sold all their stocks at the beginning of the pandemic and moved them into bonds, gold, and whatever seemed safe. What a mistake, the market bounced back in just a few months and has continued rising ever since. I hope the people I mentioned got back in at some point. I just checked the S&P 500 and see that it is up 42% from the peak right before the pandemic dip. For years I have heard people predict a major recession right around the corner, but it just hasn't happened yet. If I have learned anything from investing the past few years it's that I can't predict a thing and just have to trust the long term trends.
Back in June I jumped on board with all that AMC who hah, I bought $7,000 dollars worth I think it was like 418 shares? Anyways 4 days later it exploded up from $14 a share to $72, cashed out at $21,900 profit. P/L open was how much I was up and P/L day was how much I was up that day. That was nice
KIRBSTER269 has a somewhat valid point.
It seems the pump&dump schemes like AMC and GAMESTOP on popular social network investing feeds (IE reddit's wallstreetbets)... They are definitely a way for us 'poors' to ride waves. Plus they aren't illegal because although its a collaborative effort, and quite an unconventional means of investing... the SEC can do nothing about it as it's end-user collaborative (not a licensed broker).
The only drawback is you're ultimately acquiring your gains from other folks who didn't dump in time... not from the increased value of the actual business you're putting money into...
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