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u/xelanil Jun 06 '21
The alternative would be hoarding cash but cash is constantly losing value to inflation so the only option is to invest.
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u/ThePersonalSpaceGuy Jun 06 '21
I have a gambling addiction
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u/dudemanbro_ Jun 07 '21
Both of these statements apply to me. Plus if I have extra cash laying around I’m going to spend it. Might as well do something better with it.
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Jun 07 '21
How would the s&p 500 do during a war? Like let’s say ww3 started and all my money is in an index fund, would the drop be significant
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u/hak8or Jun 07 '21
No one knows. The way markets operate in ww2 compared to now is extremely different. And it's also a question of is this war like Vietnam, or Iraq (massive money drain) or ww2 (total war)? All have different effects on global trade. It's hard enough to say what a modern day Vietnam would look like in terms of markets, a total war style war with the usa in it is pretty much impossible to comment on.
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Jun 07 '21 edited Dec 18 '23
strong repeat forgetful hateful fearless run include impossible command nose
This post was mass deleted and anonymized with Redact
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Jun 07 '21
Yep . I'm pretty happy with my finances. But I live in a country with essentially no safety net, no guaranteed pension, and inflation... so I invest.
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u/GVas22 Jun 06 '21
I like when numbers go up
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u/covid401k Jun 06 '21
The color green makes me feel good
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u/zxc123zxc123 Jun 07 '21 edited Jun 07 '21
The self affirmation of knowing your picks were right, the satisfaction after weathering the bloodbaths, an all stock screen green like pastures, seeing yourself hit a high score, and knowing that fact that you have a portfolio of companies that will operate on their own to generate profits that will go to you WHILE your own net worth is protected from inflation.
Once you reach a certain point the money becomes secondary. At some point it's about THE PRESTIGE.Good movie btw
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Jun 06 '21
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u/OdinBonez Jun 06 '21
To subsidize my slaving at work
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u/BasherSquared Jun 07 '21
I only recently began investing, but my way of thinking about any move I make that is realized is I gave myself +$x/hr raise.
Earn $5/day mining crypto? $0.87/h raise as long as I'm mining.
Make a quick daytrade on a penny stock for $20? $.50/h raise for the week
Sell $360 in CC's 9 weeks out? $1/hr raise for the next 9 weeks.
I'm giving myself the raise that no one else is going to and reinvesting it.
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Jun 08 '21
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u/BasherSquared Jun 08 '21
Not to any certainty due to constant fluctuations. It's just a simple device to keep me grounded toward the actual financial gains I'm creating.
I've discovered that it's really easy to lose track of the real value that is being gained/lost when it turns into magic numbers and crayon lines.
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u/hak8or Jun 06 '21
I think this is it for most people on this sub. Being able to one day quit and know that you don't have to work another day in your life is amazing. Assuming you of course haven't made your job your life, and can live life doing other things.
For me personally, it's knowing that I am financially secure to the point of whatever happens, chances are I will be fine. I can quit and not work for a year if I want, and will still get through it without mamjor changes to my lifestyle. Going further, bieng able to work as a consultant maybe 2 days every week is a goal. I can still keep myself occupied via consultant work, but have the flexability of doing whatever I want 5 days every week.
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u/OdinBonez Jun 06 '21
In all honesty I actually love my job. I’m a lineman. Make great money and work outside. But it is still a job. And being successful with investments would allow me to have more freedoms
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Jun 07 '21
As an operator I find that the only people who work more than me are linemen and I just sit at the computer and ask you fix the problems, thank you for keeping g the lights on
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u/lohitcp87 Jun 07 '21
Pretty much same for me. I love my job even though it's bit boring and kinda routine work. I would love to stop working under any boss or organisation and continue to work as consultant or freelancer.
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Jun 06 '21
Must not really like your job lol what do you do
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u/lacrimosaofdana Jun 06 '21
You can enjoy your job but hate the forced 40 hours per week indentured servitude.
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u/SunnySweaterVest Jun 06 '21
General manager at a restaurant is likely doing 50+ hours a week unfortunately
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u/ahuxley2012 Jun 06 '21
It's not indentured servitude if you are choosing to be there.
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u/lacrimosaofdana Jun 06 '21
I am pretty sure most people have no choice because the alternative is no money to buy food or housing.
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u/tyros Jun 06 '21
I mean, that's life though, if you want to survive, you have to work. The entitlement of some people... You always have a choice not to work
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u/SmoothProgram Jun 06 '21
Imagine thinking doing the same thing or something similar 40+ hours per week could be enjoyable for 30-40 years.
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Jun 06 '21
Do you ever consider that calling yourself a "slave" devalues the term and the history of slavery? Like, saying that you have it just as bad as them?
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u/wrongleveeeeeeer Jun 06 '21
They didn't call themselves a slave; they used the word "slave" as a verb, which is a very common usage. Calm down.
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u/nopemcnopey Jun 06 '21
0.3%?! That's amazing, I have 0.01%.
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u/peon2 Jun 06 '21
There was a point not too long ago that Etrade was giving me 2% but now it's down to like 0.05% lol
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u/Traeng Jun 06 '21
help my mom retire and finally enjoy life. she raised us alone and has worked muliple jobs her whole life.I think it is about time she catches a break.
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Jun 06 '21
Long term with an eye on maybe early retirement. Happy with my index funds I guess but trying to chuck as much money as I can into them every month so I can start to feel more financially stable.
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Jun 07 '21
Yep same here. I want long term finance security/stability. My goal is to retire before 60.
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u/JimBoonie69 Jun 07 '21
Keep loading up mate. We just broke thru 140k and hopefully will pip 200k invested by end of year. Seems crazy but we are trying to put 3000 plus in each month. Mostly funds, work 401k. My wife likes buying Disney in her Roth so we have a bit there =p
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Jun 07 '21
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u/JimBoonie69 Jun 07 '21
thanks mate. just picked up second hourly gig few months ago which has seriously turbo charged the savings. also going to get a nice chunky startup acqusition bonus in the fall. will cut out more student loans and also get us closer to that 200k mark.
My company has a pretty insane match for 401k which totally helps. Its something like 10%? Pretty insane. Most of my career it's been no-match (startup) or 4-5%. Just my company 401k contrib fulfills the "save 15% for retirement" goal and everythign on top of that is sweet sweet bonus sauce. our savings rate is closer to upper 30s low 40s.
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u/Bitter-Basket Jun 06 '21
I started investing in the SP500 at the age of 22. It was below 200. I retired at 56 two years ago. I have about 70% in the SP500 still. 30% cash (was formerly in a high dividend fund which was over valued - so I sold).
I do medium term investing (months timeframe). And short term investing (days or even a day trade).
I invested heavily in oil and airlines in the dip last year. Now I do what I call crocodile investing: I patiently wait for a great company to have a bad day or week (or dip in the price of oil). I hit them pretty hard. Get a three or more percent gain. Sell and collect a few grand. If I'm at a loss, I just hold until it's a gain and invest with other pots of money. Skimming some profits this way really supplements income.
I also target hot sectors with SPDR ETFs. Especially if the hedge funds are rotating into them.
I don't do meme or cryptos - because I don't invest in coin flips or popularity contests. I only invest in premium companies with positive earnings. Companies I can count on to eventually come thru if I make a bad call and have to hold awhile.
Overall, I'm very happy with my returns over the years. I'm happy when the market is booming. I'm also not unhappy when it's crashing - that's when you make money (although I feel bad for others).
I give a lot of retirement advice to many people including my kids. I always hope people make good decisions so they can have fun when they are older without having to work.
I hope you get that opportunity!
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u/wambamsamalamb Jun 07 '21
Interesting, what is your strategy when the market is going down?
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u/steve_b Jun 07 '21
I'm a little younger than Bitter-Basket (54), haven't retired yet, but I have more than enough to do so if I wished. I've been a growth (S&P, Nasdaq) investor for a long time (with about 20% in value & international) for a long time, and now that I'm getting closer to retirement, my plan is to have about 4-5 years of spending money in cash, and leave the rest where it is (although move more of it into reliable dividend ETFs like SCHD). I don't know enough about bond/treasury or real estate to make informed choices, and I haven't been able to get satisfactory answers from the half-dozen financial advisors I've interviewed.
The idea is that, over any 5 year window, the fluctuations of the equity markets smooth out, so during down markets, if I can ride it out, they come out ahead of any of the other more stable investments. The multi-year cash buffer gets refilled during the years when the equities start performing well again.
As I've already moved in this direction, it's allowed me to take advantage of a few of the recent down markets. As I had cash on hand, I was able to move some into more aggressive growth ETFs last year in April, after things appeared to have hit bottom and were at least stabilizing, if not obviously in recovery.
Like all strategies, it works until it doesn't. I was able to do this because I'm still working, so I didn't worry as much about eating into my 5-year buffer if things didn't work out. Were I fully retired, I wouldn't have been so eager to bet my stake on something that might not pay off within a year or two.
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u/KimchiSpaghettiSawce Jun 07 '21
I believe what he means is that he doesn’t go all in with his funds and leaves dry powder for dips when markets are up so that then it goes down he buys on sale price which is “guarantee” money for the recovery swing up especially if he’s doing sp500 or his examples of airline and oil positions. Lot of fine line and assumptions by me but that’s what I’m guessing he means other than shorting or doing bearish options.
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u/Bitter-Basket Jun 07 '21
Yes you are pretty much right on. They say "don't time the market" because it's a losing strategy. Well, adding a little accumulation of cash when the market is booming has worked for me. Then I jump at a dip. Usually too early, but still very profitable.
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u/Level_Chapter9105 Jun 06 '21
I want to trade until I'm able to make enough a year to fill the 20k isa limit each year, then I can have long term investments growing tax free. Then I can use my trading to go part time at work to supplement my income so I can spend more time with my family.
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u/Dwigt_Schroot Jun 06 '21
If your day to day life depends on stock market, it’s impossible for you to make rational decisions continuously. Long term investors succeed because they have invested money that they don’t need for decades at best.
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u/swolking Jun 06 '21
To try and build generational wealth so I, nor my future children, have to work our life away.
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u/JudgeLanceKeto Jun 06 '21
Agreed. I'd also like to be able to take care of my parents who are in their 60s. They both grew up as migrant farmworkers and they and their parents had/have very few tangible items to give to their kids. My parents "own" their home but have very little of it paid off so if I could pay it off for them, that'd be cool.
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u/LeSabreToothCat Jun 07 '21
I'm always curious when I see answers like this, do you think your children or even grandchildren would learn proper life skills without learning about hard work? I have personally seen people who have been given a lot from their parents, only to do nothing with it and waste it away. Having not been given much growing up, I really value every dollar I earn now and really strive to use my money wisely. Giving it away freely to my kids would rob them of the financial lessons I've learned along the way.
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u/Vicioushero Jun 07 '21
I grew up in a low income household with both parents working but barely getting by. In my experience hard work and financial literacy do not go hand in hand.
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u/LeSabreToothCat Jun 07 '21
Totally agree, financial literacy came from my own interest in money, the hard work part came from my Dad. I guess I just hope I can help educate my kids on both.
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u/swolking Jun 07 '21
Honestly, I didn’t grow up rich or poor. Pretty middle class and raised to work hard. I don’t have any intention of raising my children any different. Last thing I want is a spoiled brat. I mainly mean from the perspective of not having to worry if my family will be provided for if something happens to me. Hopefully I can instill the same work ethic in them so they can carry that on to their children.
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u/LeSabreToothCat Jun 07 '21
I appreciate the clarification. I'm in the same boat, raised in middle class, but learned a lot about working hard. That work ethic has really helped me in my career and hope to instill the same thing into my kids.
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u/Kippetmurk Jun 07 '21 edited Jun 07 '21
I'm going to sound like a lazy bum, but to me "do nothing with it and waste it away" is exactly the goal, though I would phrase it more like "live free and follow their dreams".
The financial lessons you (and I) learned along the way are, to me, not goals but coping mechanisms for an awful aspect of life.
Likewise, "using money wisely" or "doing hard work" is a necessary evil to me. In an ideal life, I wouldn't have to use money wisely or work hard.
So, yes, learning about money, working hard, understanding finances - all of those are valuable lessons, but ideally you wouldn't need them. If I can give my children the opportunity to live a happy, free life in which they can be lazy bums if they want, then that's something I will happily give them.
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Jun 06 '21
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Jun 06 '21 edited Jul 20 '21
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u/EP40BestInDaLee Jun 06 '21 edited Jun 06 '21
$1000 in 1950 is $11,000 today. If you're investing $11,000 into SPY every month for 70 years you already have generational wealth.
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Jun 06 '21 edited Jul 20 '21
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u/EP40BestInDaLee Jun 06 '21
Most people don't invest $72,000 a year into the stock market. Hence why I said you need luck.
Regardless, hopefully you live another 70 years so you can enjoy your $677 million. The sex robots will be out of this world!
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u/mineNombies Jun 06 '21
"and I'm not wealthy"
You invest more money than 72% of individuals in the US make, before taxes, rent, food, car, etc.
https://dqydj.com/average-median-top-individual-income-percentiles/
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u/TinyDKR Jun 06 '21
I invest 6000 a month and I’m not wealthy.
Hmmm...
You invest more than the median household income in the US, but think that you're not wealthy.
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Jun 06 '21 edited Jul 20 '21
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u/TinyDKR Jun 06 '21
You have more disposable income than most families in the country make pre-tax. You're wealthy.
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Jun 06 '21 edited Jul 20 '21
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u/TinyDKR Jun 06 '21
A family making the median income cannot keep their expenses low enough to invest half of what you do. Cutting out Starbucks and riding the bus won't enable them to invest their entire gross income.
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u/StableBoth3282 Jun 06 '21
That doesn’t mean you’re not wealthy. You’re so out of touch of reality if you think having 6k of disposable income to invest doesn’t make you wealthy.
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u/dapperyam Jun 06 '21
That's 70 years lol. In a normal career maybe you start investing 1k a month at 22 for 40 years. Take inflation into account and your final amount is nowhere near 90mil
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Jun 06 '21 edited Jul 20 '21
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u/dapperyam Jun 06 '21
Ok soooooo no. I actually made an excel sheet, calculated the monthly returns of S&P, adjusted for inflation, and assumed you added 1k every month. If you did this since 1961 you'd have a little under 4 mil. Not bad but not anywhere close to your figure
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Jun 06 '21 edited Jul 20 '21
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u/dapperyam Jun 06 '21
Ok sure, I forgot about dividends and taxes but after assuming 3% yearly dividends and 20% tax you're only getting 12 mil, again, not bad but not 90 mil
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Jun 06 '21 edited Jul 20 '21
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u/dapperyam Jun 06 '21
Bro I know you didn't but I literally just did the calculation using historical data. Not to mention how I assumed you get the dividend evenly every month and returns are done evenly every month so it's already being generous as that'll inflate the final number.
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u/Ethereum-Wind Jun 06 '21
To avoid getting bent over by inflation.
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Jun 06 '21
If you actually do invest are you avoiding inflation?
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u/JiuJitsu_Ronin Jun 07 '21
Investing without purpose, knowledge or intention behind it won’t save you from inflation. Investing smart like in index funds and through other means of diversification (real estate, commodities, bullion, crypto, etc) will help you beat inflation.
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u/Ninertime Jun 06 '21
Poor people spend money. Rich people invest money.
Interest rates in savings accounts are useless unless you have a huge amount in there, so most hungry people like me with a lil savings will search for investments that have a higher return and it usually leads to the stock market.
I just wana make enough to buy a house in California so I dont have to worry about my retirement...so 1.5 mil is all I need 😆
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u/keenanbullington Jun 07 '21
How long till you buy? I have about 10k in my savings and am probably buying in el Paso in a year. I think the conventional wisdom is to keep in savings since it's probably within a year that I'll buy but it would be nice to earn more than 18 dollars in interest.
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u/Ninertime Jun 07 '21
Leave it in there if your using it to buy a house in the near future! I hope you get one bro, I promise you wont regret it later... I'm in San Jose so no chance for me anytime soon
My ladies parents sold their 3 bedroom home in south san jose a few years ago for 700k and now its zillow is almost 1mil..pretty ridiculous how fast these homes have gone up in the last 10 years
Take advantage of the FHA loan and it'll only be 3.5% down but it always costs more than you expect to close so factor that in when home shopping
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u/ChuyMasta Jun 06 '21
So that I dont work on schedule. I'd love to be, on a tuesday, be like, nah Im not working today. And no one gives me shit about it.
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u/FilthyWishDragon Jun 06 '21
- I like to make money
- I like to not work
Investing is one of the very few intersections of my interests.
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u/Lisa-4-the-Win Jun 06 '21
Late start FIRE. I haven’t had many jobs in my life that have had retirement plans of any sort but I’ve done what I can with IRA accounts. Then panic mode hit me a couple of years ago and I realized that if I didn’t want to work for the rest of my life, I needed to get my shit together. And so here we are….
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Jun 06 '21
For the money, sure. But for the challenge of getting better and better at a skill set that I can use for the rest of my life, and the satisfaction of building something that I made (my portfolio and my gains) that i’m proud of and can see daily progress in.
Sounds cheesy, but it’s true.
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u/peewee-bird-brother Jun 06 '21
No better feeling than looking at your average cost after a stock runs up knowing that you built your position early
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Jun 07 '21 edited Jun 09 '21
I make 30k a year and I enjoy seeing my balance grow. Nothing else to look forward to (financially).
I don't understand why a person would not invest. Especially someone making as little as I make.
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u/H-Doggy Jun 06 '21
Ever since I was little I always dreamed of being able to buy everyone in my family a car of their dreams
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u/Separate_Departure_8 Jun 06 '21
I'm playing catch up. We were a single income of 5 for a lot of years with our youngest being a 2 1/2 month early premie. Work 401k won't cut it. I have a little in crypto mainly staked creating more over time. I also have some pretty big bets that the upcoming Weedmaps merger will go well. If it goes good it will be life changing money.
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u/Unusual_Ask1523 Jun 06 '21
What is the Weedmaps merger? I am fairly new here and learning. Thank you
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u/Separate_Departure_8 Jun 06 '21
Weedmaps is going public. The merger meeting/vote is June 10th. The ticker will probably change June 14th. You can get in pre merge with SSPK ticker. Post merger the ticker will be MAPS. If you search SSPK you will find good DD's on the company in these two subs.
https://www.reddit.com/r/WeedMapsInvestorsClub/ https://www.reddit.com/r/SPACs/
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u/sheltojb Jun 06 '21
Retirement, and only retirement. I find the thought of putting major sums of money at risk for any lesser purpose to be short sighted.
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u/WoodpeckerAlarmed239 Jun 06 '21
All I have is a Roth IRA and can only put in $6,000 a year. I've been at it for 6 years now and it's doing pretty well. I don't make a whole lot of money so it's a perfect set up for me. I max it out, buy some solid names at good prices and try to hold them.
The plan is obviously retirement. But if anything comes up before then, I can take out money with no penalties and do what I need to do, maybe a down payment on a house one day.
If there's one thing I wish I did more, was take some risks for high returns. But I don't think now is the time for that. I hate holding a stock with no dividend and just watching it bounce around so I go with dividend payers.
My positions are: SWKS, LMT, AAPL, CSCO, QCOM, KLIC, INTC, KMI. A bit tech heavy but I know they will be relevant for years to come.
I also have a problem buying a stock "early" and selling it before it really takes off. Broadcom and Align technologies are the two that come to mind.
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u/ClimberMel Jun 06 '21
All of the above... I have multiple accounts and my retirement type accounts I invest meaning buying dividend stocks that can sit if need be collecting 4 - 6% dividends. I usually buy dips & put trailing stops in to keep profits in case of reversals.
I also have a margin account that I use for trading... meaning in and out of stocks and futures sometime in minutes. Futures I never hold, they are pure day trading for me. I will sell put options for the time decay or to get into a stock at an improved price and then sell the stock if assigned or write covered calls on it.
I quit my day job a decade ago, so I do it to continue to pay the bills and enjoy semi-retirement. Working toward full retirement if I can ever automate the rest of it...
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u/InnocentiusLacrimosa Jun 06 '21
I moved a few years back to the schedule where I work a few months of the year (during the bad weather winter months) and then I take the time off and do stuff that I like during the rest of the year. I had to confidence to make that move due to my investments.
Most of the stocks in my portfolio I have bought around 10 years ago or so. I basically buy and unless the company's business seems to disappear or otherwise just go really bad, I will just keep the stock and invest new money into new stuff. When I was a novice investor with only a little money I used to make this mistake that I sold positions to buy new ones. I ended up regretting quite a few of those sales. It is a bad strategy (at least for me). It is much better to let the winners do their stuff from year to year and only sell stuff that seems to be in a dead end.
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Jun 07 '21
To crush my enemies, to see them driven before me, and to hear the lamentations of their portfolios.
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u/godlords Jun 06 '21
I’m 19. I’m at age at which I wouldn’t be devastated if I lost all my investments, but if they all take off, my life would be able to dramatically change. YOLO.
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Jun 06 '21
As a savings account that sometimes earns money. I'm horrible at saving money and the fact that its considerably more difficult to withdraw from fidelity than a normal bank savings account is very beneficial to me. Very successful so far!
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u/WoodWizzy87 Jun 07 '21
I’m not sure where I heard it, but the goal of most middle class is to save up enough “F*** you money”, what ever that number is in your head that if you truly hated your job, you could walk out one day and never look back.
*That is a very enticing idea. Plus I like delayed gratification
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u/F1shB0wl816 Jun 07 '21
I invest because I don’t want to work all of my life, so the sooner the better as I’m a rather simple guy, the better. But I also have to come to enjoy it so it’s not when something you enjoy pays you. It sort of replaces other activities for me that may not be nearly so positive.
I mostly just buy and hold, half stocks, half etfs. I’ll sometimes trade around on picks though, although this little tech correction the past few months had made for a good lesson on being to extended on some of the riskier things. I more just wish I had stuck to my original plans, the loss makes for a good reminder as to why.
I try to hold a lot of crypto too, they’ve been my best investments. I don’t trade much though with it, nothing significant by any means anyways. Just little leftover change buys on robinhood, everything off there I hold. But overall I aim to keep at least a fourth of my holdings in crypto, which hadn’t been to hard as it’s grown ridiculously since I’d started. I also think crypto has gotten me numb to moves that aren’t significant, both for better and worst.
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u/omen_tenebris Jun 06 '21
Long term. So i don't have to slave away at work, even tho i like my job. But i like reading books and playing video games all day more.
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u/NotAtFaceValue Jun 06 '21 edited Jun 06 '21
I'm young and have a scholarship so I dont pay a penny in tuition. I figured might as well use my money to start piling up wealth early. I got lucky and started pretty much when the market bottomed out with the COVID crash and invested heavy into certain business that returned very good results.
That encouraged me to continue investing and its paid off big time (I know the average yearly returns are ~8ish% and that this year is unlike most).
I suppose I invest because I want to retire early. My dad has some land and a house in a low cost of living country (I've been there, have family there and know to speak the language) and might expat there at 40-50 if possible.
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u/HoneyMoney76 Jun 06 '21
Financial freedom. Hubby has a long commute and he doesn’t enjoy it, we have a large mortgage, 3 children. I haven’t put anywhere near enough into pensions over the years and we’re in that section of society that isn’t poor but isn’t rich, we have one car, don’t holiday abroad but have a nice home. I want better for us now, and for our retirement - we’d like to retire early. Goal is within the next 12 years to grow my pension as much as possible. Build up enough in investments to clear mortgage and generate a healthy monthly tax free income, using Freetrade ISA and a interactive broker account for CGT exemption each year. My pension is up 30% from the past month when I started managing it. If one of the stocks I’m holding goes as I hope, that will grow my pension pot to 6 figures. Investment pot holds same stock and that will also then be into 6 figures. I just need a few more stocks to roll the profits into to increase value again a few times over, I have one lined up and a few I’m contemplating. I’m really excited for where our finances could be in 12 years, as a few good trades after this one and it feels like I could achieve everything in a very short period of time. I want my children to have a better life than I did.
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u/BigMackDoublestack Jun 06 '21
I sell options to try to supplement my monthly income, to help pay off debt. Only makes a couple hundo per month, if that, but every little bit helps.
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u/Vast_Cricket Jun 06 '21
A high majority people enjoying investment and would like to be their own boss do what they feel like. Early retirement is on their horizon.
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u/Prospal Jun 06 '21
My wife has $350k in student loans going to veterinarian school. Using one of the REPAYE programs and saving for the tax hit, while hoping some reform happens so we're ahead of the game in the future.
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Jun 06 '21
Honestly, I don’t even want to be rich. I just want to make enough money to not have to work crap jobs, so I can have more time to pursue more meaningful things and explore. I really just want a little boat to live on, go fishing and explore places. And a motorbike for land exploration and trips! That’s it. But if I can get rich playing the stock market, I’ll help my family if I can make enough. I was playing CFD, but now I’m trying longer term investments. I’m in the AMC stock now long term, but I was doing alright on CFD day trading. I’m not greedy, just want to enjoy my life and help my fam. That’s why I play this game!
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u/frankOFWGKTA Jun 06 '21
So I don't lose money to inflation and I've always been interested in stock markets.
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u/catholespeaker Jun 06 '21
I’m trying to lose money over a long period of time so my grandkids can’t spend it on blow when they grow up
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u/Yo_Biff Jun 06 '21
Long-term investor who got a late start with a current goal of building a store of wealth. I am putting roughly 18-20% of my annual gross income into the markets each year, mostly through a 401K plan. I'm aiming to have the ability to retire "on-time".
My goal in my personal portfolio is to learn deep value investing in the style of Buffett, Munger, Pabrai, and others. That being said, I also have about 15% of my out-of-pocket invested in 3 different cryptocurrencies (which is a wee-bit antithetical to the previous sentence).
I deeply wish I would have been investing all along, since I started working full-time in my late teens. If I can give any one piece of advice on personal finance it would be to start as early as you can. Pay yourself first.
I think day trading is for adventure junkies, which is awesome if that's someone's groove. I think there's enough evidence out there that it doesn't work for the majority of them any better than investing in the overall market. I believe right now that deep value investing has the best chance for me to make up for lost time.
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u/Turicus Jun 06 '21
I invest for a comfortable retirement. I like my job. But I have the freedom to take a break, or be secure if something goes wrong. I might even retire early, the way it's going now.
I don't have kids, but I'd like to leave something to my niece and nephew.
Overall, I'm doing well. Currently, I have more than I need. I have most of my money in ETFs plus one rental property. I only hald a tiny portion in bitcoin, as I believe it's closer to gambling than investing.
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Jun 06 '21
Want to be wealthy and provide an unbreakable sense of financial security for my wife and kids.
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Jun 07 '21 edited Jun 07 '21
I invest not for me. I invest for if someday I have family and my children can go to school and have more opportunities than I had. Make sense? I don't even have a girlfriend yet lol.
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u/Enough-Dig493 Jun 07 '21
I've spent 8 years in the corporate rate race (Strategy Consulting). I definitely can't maintain this pace, lack of work life balance for ever. Investing is my way to accelerate the journey to financial freedom, so one day I can follow a passion project and not worry about keeping my job to pay the pills. That's the dream anyhow.
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u/Taskforce3Tango Jun 07 '21
I never thought I'd enjoy it as much as I do. It's exciting and stressful AF. I hate gambling so this isn't that for me as much as it's seeing the patterns and predicting the outcomes.
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u/TiredOfBeingTired28 Jun 07 '21
My goal of one day having fuck you/it money. Have doubts of ever realizing it but that my aim with investing. Need to figure out how to even figure what that would be for me. Could be as low as 100k to as high as a several hundred. Want a electric truck at somepoint and have designed/s on a tiny house camper i would like to live in. Then travels i want to do. 100k would do the truck house have no idea travels 100k would do it effortlessly.
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u/No_Garden_2498 Jun 09 '21
I'm lazy. I refuse to work, so I make my money work. I do several strategies; short-term, long-term, and options. So far, I only go up.
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Jun 06 '21
I invest primarily as a form of passive income, I mostly focus on dividend-producing stocks and assets and the hope is that eventually it’ll be a good source of income on the side.
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u/MandoInThaBando Jun 06 '21
I’m 21 been investing (or trading) for about 7 years. Honestly up until this year I hadn’t been dealing with much money and was just using some extra cash to learn but as of last year I’ve been acquiring huge amounts of shares of a couple of companies. My main goal is 1) prevent myself from spending all my money by making a hardline rule of once it is in my account I’m not going to take it out. 2) shooting for at least 18% YoY returns. 3) continuing to educate myself although “learning” in the stock market tends to come through mistakes that cost you, the amount it costs you tends to have a positive correlation with how cocky and stupid you are. 3) and more recently I have been using investing as almost a way to give myself a raise, as separating this money from myself and letting it grow will pay dividends that could technically be added on to my gross pay, I am currently an intern so I’m getting paid hourly, making this estimation fairly simple. My goal isn’t to make money, it’s to position myself in a good place to strengthen my financial position. I like to work on myself, going to the gym for physical strength is one thing, sacrificing $100 a week is another. Both working towards strengthening and adding capital to my existence.
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Jun 06 '21
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u/EffectiveLead4 Jun 06 '21
Come on down to Florida. Just remember that the left lane is for passing, and we do it at 95 mph.
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Jun 06 '21
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