Any investors here?

Jimmeh · #1 03-11-2011, 08:11 PM

I can't remember when I started doing it, but any extra money I have had has been going straight into my savings account. That account only has an APY % of .43, so it doesn't really make a ton, but it's better then nothing I suppose. Anyway, it's a pretty big stash right now (I've kept my debt very low and my income at a pretty reasonable amount, plus I pay myself on the dollar too, lol.) so I've had this feeling of wanting to invest a little bit and kinda play with it since I can't just keep smelling it all the time (it doesn't smell that great). I was thinking of just investing like $1000 for now and maybe a little more later on if it all works out.

I don't want to buy anymore gold. I've actually got some that's been in the family for a long time and plan on selling it when the timing is right. Just curious if their are any other guys here that have a little money invested and just get a little advice from ya.

Clinton · #2 03-11-2011, 08:12 PM

I invest in booby bars and it always pays off!

joshyddog · #3 03-11-2011, 08:20 PM

Quote:

Originally Posted by Clinton

I invest in booby bars and it always pays off!

booby bars?

pooleo · #4 03-11-2011, 08:23 PM

For awhile a long while ago (hehehehe) Paypal was paying 5% intrest on the money in there. I did not have much to keep in there but I wish I had!

wvcat · #5 03-11-2011, 08:25 PM

lol... We had one burn down here, the rumor I heard was that friction on the pole was the cause.

Clinton · #6 03-11-2011, 08:29 PM

Quote:

Originally Posted by joshyddog

booby bars?

Yes, Joshy you are too young

Quote:

Originally Posted by wvcat

lol... We had one burn down here, the rumor I heard was that friction on the pole was the cause.

LOL...I have seen that first hand....I pissed on the flames and put it out

wvcat · #7 03-11-2011, 08:30 PM

back to the OP... I have been managing my mothers portfolio since my father passed away in 1989. I was just talking with my broker last week and we have averaged a 7.5% yield. We have never gambled much, mainly blue chip stocks like Coke, Dupont, GE... Probably could have done better if we took more risks.

Twisty · #8 03-11-2011, 08:35 PM

I know a guy that buys 6 month CD's. Cashes 'em out then buys again. Better yield than bank savings and the money will be available again in 6 months or less.

Ranger Sport · #9 03-11-2011, 09:21 PM

Screw investing, tried it and came out even. Baaad advisors, thank god i took chances.

Even tried buying american money when canadian currency went up, but it's not going down, so that money sleeps for now.

I prefer investing money in the now, last year i bought a truck, this year i plan to buy a quad and furnish the house i plan to build.

01_ranger_4x4 · #10 03-11-2011, 09:32 PM

I wouldn't consider myself an investor but I have a roth ira through work that I put into. My work matches my contributions up to 10%. I have an investing firm take care of my portfolio because I don't know enough about investing to be of any good to myself.

Sent from my Droid using Tapatalk

daniel5625 · #11 03-11-2011, 11:29 PM

Quote:

Originally Posted by Jimmeh

I can't remember when I started doing it, but any extra money I have had has been going straight into my savings account. That account only has an APY % of .43, so it doesn't really make a ton, but it's better then nothing I suppose. Anyway, it's a pretty big stash right now (I've kept my debt very low and my income at a pretty reasonable amount, plus I pay myself on the dollar too, lol.) so I've had this feeling of wanting to invest a little bit and kinda play with it since I can't just keep smelling it all the time (it doesn't smell that great). I was thinking of just investing like $1000 for now and maybe a little more later on if it all works out.

I don't want to buy anymore gold. I've actually got some that's been in the family for a long time and plan on selling it when the timing is right. Just curious if their are any other guys here that have a little money invested and just get a little advice from ya.

im 19 and own 3 businesses and im kinda addicted to investing, my advice is to invest in it something that people are always going to have a need for, that is recession proof, and start a small business and build it up! even 1k will start you a small business, you would be surprised

Major376 · #12 03-12-2011, 12:04 AM

depends on how risky you wanna be. investing in something like bank cds or mutual funds is pretty safe and your guaranteed good yeild in the end, it just takes a long while to see really desirable gains. Stocks however can lead to very fast gains, but theres always the risk of buying high and selling low, so why not start with say a $100 cd each month for 10 months, then after they mature just withdraw the interest and keep the rest in the cd and let it just keep growing. it wouldnt be a ton of money, but in a sense its like a small retirement check each month, then if u have extra just buy more cds, you'll pretty much have your own money making business through the bank! plus its pretty safe.( i had an awesome economice teacher, plus my family owns stocks). Though if youd wanna buy stocks now is the time since they are usually cheap now. we have ours in wendys/arbys group, it not bad right now since its food and everybody's gotta eat!

Jimmeh · #13 03-12-2011, 07:09 AM

Quote:

Originally Posted by daniel5625

im 19 and own 3 businesses and im kinda addicted to investing, my advice is to invest in it something that people are always going to have a need for, that is recession proof, and start a small business and build it up! even 1k will start you a small business, you would be surprised

Yeah, that's how I've gotten the extra money is from working for myself. Now that it's slowed down a lot, I figure it's time to make my money work for me.

Quote:

Originally Posted by Major376

depends on how risky you wanna be. investing in something like bank cds or mutual funds is pretty safe and your guaranteed good yeild in the end, it just takes a long while to see really desirable gains. Stocks however can lead to very fast gains, but theres always the risk of buying high and selling low, so why not start with say a $100 cd each month for 10 months, then after they mature just withdraw the interest and keep the rest in the cd and let it just keep growing. it wouldnt be a ton of money, but in a sense its like a small retirement check each month, then if u have extra just buy more cds, you'll pretty much have your own money making business through the bank! plus its pretty safe.( i had an awesome economice teacher, plus my family owns stocks). Though if youd wanna buy stocks now is the time since they are usually cheap now. we have ours in wendys/arbys group, it not bad right now since its food and everybody's gotta eat!

I'll have to look into the CD. Thanks, man!

FireRanger · #14 03-12-2011, 07:26 AM

GET IT OUT OF THAT SAVINGS ACCOUNT! A savings account at a bank is totally useless. You're earning nothing on it. 0.42% is not better than nothing, it is nothing. You could be doing 4,5,6,7% elsewhere. And that's money you can use for:
- Buying a house
- Renovating a house
- College for kids
- Retirement since there won't be any social security left

merlin215 · #15 03-12-2011, 07:51 AM

BOY You guys are right on the money !

IRA's , Stocks , Stay away from bonds at this time . IRA's are awesome long term investments , paying a great return but you can't touch the money . However , you CAN borror against a retirement account like a 401 K , IRA etc . So maybe put all your money into a retirement account then later on , after you get some money in there , You can borrow at a low interest rate as a loan and pay it back protecting the money thats in there . I do that now . Also , I dabble a little in the stock market . If you lose money no worries as you can declare on your taxes , BUT , If you make money and take it out of your account You NOW owe Uncle Sam taxes ,which can be a lot of money .

Basics :

Open up something like an E Trade account and look at companies that have been around for a while and are low stock prices due to the economy , and don't be aggressive . Start slow and learn how to watch stock prices how they go up and down and why they do this . Earnings per share , Ratios or profit and loss stuff . Sounds complex but really pretty simple . And when in doubt ? DO NOT invest a ton of doe on the sure thing !!!! Only in horse racing and you'll probably get burned . Large companies , and long term are my strategy and I've done pretty well over the last 10 years . No expert but I have fun , think small . After a while , those nickels and dimes start adding up to dollars ....

DO NOT be in a hurry ! Biggest mistake as everyone wants to be a millionare overnite ! Most of us are poor folks trying to make a living and a few extra bucks .

Some advice told to me years ago that works really well !!!!