Investments
- Thread starter airportis
- Start date
Read these books:
Random Walk Down Wall St
Bogleheads Guide to Investing (Bogle has 2 other books on mutual funds I've yet to read but hear are great)
"Four Pillars of Investing" by Bernstein
"The Only Guide To A Winning Investment Strategy You'll Ever Need" by Larry E. Swedroe
The key is educating yourself. These books might not be what you are looking for if you want a "quick score". These are about building a portfolio and holding for a long time, but are really enlightening. I started with the Bogleheads Guide and am now on Four Pillars.
Random Walk Down Wall St
Bogleheads Guide to Investing (Bogle has 2 other books on mutual funds I've yet to read but hear are great)
"Four Pillars of Investing" by Bernstein
"The Only Guide To A Winning Investment Strategy You'll Ever Need" by Larry E. Swedroe
The key is educating yourself. These books might not be what you are looking for if you want a "quick score". These are about building a portfolio and holding for a long time, but are really enlightening. I started with the Bogleheads Guide and am now on Four Pillars.
im not looking for a quick score, but im also not looking to have something i cant touch untill im 58 years old. a friend of mine was telling me something about his finance class his teacher was talking about something. he dosent remember exactly what it was he thinks it was like no-load continuous interest account, where his teacher said if a parent starts one of those for their child when they are born, and puts $15 a month, by the time theyre 40 theyll have like 4.5 million. dont know how true that is but im looking for something that you can end it anytime you want.
I think that is called a "load of bullshit" account but im not sure. wonder why this teacher is still teaching. He could be a multi millionaire by now with that creative financing idea
The old saying was $12 a month when you were 16 yrs. old you would be a millionaire by age 65. That was back in the 90's when tech stocks were booming. If your company matches a 401 max it out. Take all the free money you can get. Look for a stock that really performs and pays a dividend. Personally I'm into Altria. GL
it's great that you're starting so young. wish i did. stocks are definitely the way to go. i'd recommend reading 'one up on wall street' by peter lynch. also, check out fool.com.
Air, I like real estate myself. I Began as just a 1/5 partner until we all made enough where we could start owning things on our own.I only wish I started this when I was your age.
i agree...since i don't have patience in following the stock market this is what i did in 1999 (i started out putting 5 or 10% down & took interest only mortgages) & have gotten a great return on my money.and like zoomer i wish i had started this earlier...& no you don't need a license to be an investor.
thanks for your input guys, the more i talk to people, the more they say "i just wish i started it at your age" so hopefully ill benefit from this later.
the roth IRA looks good to me (thanks kneifl) as you can withdraw any ammount at any time i believe.
i do not know much about investing in real estate but i will read up on that tonight while hoping my LA Tech bet cashes
the roth IRA looks good to me (thanks kneifl) as you can withdraw any ammount at any time i believe.
i do not know much about investing in real estate but i will read up on that tonight while hoping my LA Tech bet cashes
if you want to learn about investing in real estate get a real estate license, it isnt very hard. Look among fe\riends and family until you sell/buy your first house for them. With the money you make off the deal you will probably make more than your friends will make working a whole year at a min wage job. But do a couple of deals and you have enough money to by a place of your own. By the time you have done a couple of deals you should know enough about real estate to invest wisely.
If you want to learna bout the stock market, take a securities class at your college, and or read market wizards 1 and 2 before you would read "random walk down wall street", which i think both of those books debunk many myths posed by "random walk".
I would suggest opening an account with etrade savings, they pay 5% on savings and you can move your money into a trading account with a click of the button, and pull it out of there and earn 5% whenever you want.
Pick a goal of how much you wanna make by the time your 30, or better yet, figure out why you want to invest and make that your goal, and then use a financial calculator (google financial calculator fidelity) and fgure out how much at what % you will need to get to your goal. IF you have a decent job you could put away a good chunk of that income into a real safe investment and see a pretty big difference in not too many years if you are consistent with it.
GL with your efforts
blg thanks for the lengthy write up, lots of info there.
i am a certified EMT and plan to be a firefighter/emt, just waiting the final part of the testing process. they start at around 45k and after 5 years max out at about 75k i believe. then there is always the option of moving up in rank, which in turn means more money annualy.
1 great thing about the job is the schedule. you have 4 days on, then you have 4 days off in a row. with those 4 days off, id eventually like to have something to do on the side to make extra money. the way you were talking about realestate you made it sound pretty simple to make a nice chunk of change off one deal, but im sure it takes a lot of work and a lot of knowing people to get into that and get a deal done, right?
i am a certified EMT and plan to be a firefighter/emt, just waiting the final part of the testing process. they start at around 45k and after 5 years max out at about 75k i believe. then there is always the option of moving up in rank, which in turn means more money annualy.
1 great thing about the job is the schedule. you have 4 days on, then you have 4 days off in a row. with those 4 days off, id eventually like to have something to do on the side to make extra money. the way you were talking about realestate you made it sound pretty simple to make a nice chunk of change off one deal, but im sure it takes a lot of work and a lot of knowing people to get into that and get a deal done, right?
Be sure before you start a Roth IRA that you understand the scenarios in which you can withdraw early before 59 1/2, for example it can be for a first time home purchase, but only after five years after opening the account. Otherwise you might be looking at tax and penalty on gains.
If you want soemthing liquid after you max out your Roth, just start a monthly ACH deposit into a good fund family like American Funds or The Hartford, but some folks would also add Vanguard if you are fee adverse.
Something else is if you are planning on getting married and having kids, you could start a 529 ciollege savings account now even before you have a kid, just start it in your name, and change it later to your kid...that way you have more than 18 years to save for college. YOu can set it up through upromise.com and register your credit cards on there and get money back from purchases. It is free, and no catches. You can also set up a 529 through there with Vanguard, and have the savings from getting money back swept into the vanguard 529. My wife are getting ready to have a baby, but we started this 2 years ago, and have gotten about $40 back, but have put $75 away per month, and after the baby is born, we will hopefully raise amount, but its nice to have a few thousand in ther before the baby is born.
If you want soemthing liquid after you max out your Roth, just start a monthly ACH deposit into a good fund family like American Funds or The Hartford, but some folks would also add Vanguard if you are fee adverse.
Something else is if you are planning on getting married and having kids, you could start a 529 ciollege savings account now even before you have a kid, just start it in your name, and change it later to your kid...that way you have more than 18 years to save for college. YOu can set it up through upromise.com and register your credit cards on there and get money back from purchases. It is free, and no catches. You can also set up a 529 through there with Vanguard, and have the savings from getting money back swept into the vanguard 529. My wife are getting ready to have a baby, but we started this 2 years ago, and have gotten about $40 back, but have put $75 away per month, and after the baby is born, we will hopefully raise amount, but its nice to have a few thousand in ther before the baby is born.
Yes, you are correct. I wasn't talking about being able to access it, only to start early if you are planning on having kids.
Not sure he has too many options outside of traditional routes if he wants to access money early.
Not sure he has too many options outside of traditional routes if he wants to access money early.
And also just mentioned upromise.com as help for him, but he can set up a 529 with almost any mutual fund company, but I like the money back from upromise...every little bit helps.
shoot me an email airportis
ask jack or send it to blgstocks and then look below my name
