Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I was expecting you to say you got $$$$$ . Regardless, I really admire your family for doing this for you from your childhood.
They tried to do the best they could.
My grandparents were farmers in the 1920s. The Dust Bowl hit them hard then when the banks closed during the Great Depression the banks took their farms. They were migratory farm workers until WW2 and worked in canneries after that. They did the best that they knew.
Seeing the money being collected every year I assumed that it was going to be a lot of money. More so after my father began taking night classes on how to invest it.
The investment that did well for them was building residential rental housing. My maternal grandparents had them and my paternal grandparents had them [during and after the war]. That hs been the investment that I favor.
What finally convinced you to take a st ab at buying a stock or two???
I've always been a "mutual fund" person. But a friend has just bought her first stocks, and I have to say from time to time -- I have thought about doing that. And her excitement is appealing. She's made hundreds of dollars in just two days. (She won't be trading and hopes to pass these stocks to her nieces. IF I bought I'd be holding looooong term as well.)
I've always felt that personally I'd feel I had to "watch" the stocks more than I follow what my mutual funds are doing. Do you feel that stocks need more "attention?"
These stocks would be in my Roth IRA.
Thanks.
If you've got a gambler's mentality......there is no hesitancy. LOL
What finally convinced you to take a st ab at buying a stock or two???
I've always been a "mutual fund" person. But a friend has just bought her first stocks, and I have to say from time to time -- I have thought about doing that. And her excitement is appealing. She's made hundreds of dollars in just two days. (She won't be trading and hopes to pass these stocks to her nieces. IF I bought I'd be holding looooong term as well.)
I've always felt that personally I'd feel I had to "watch" the stocks more than I follow what my mutual funds are doing. Do you feel that stocks need more "attention?"
It depends on your motivation. Some people have done it to avoid the annual expenses, but with the advent of low-cost etfs and mutual funds that argument doesn't hold a lot of water today. Some people do it to have more control over their taxes, but if you are doing this in an IRA that part doesn't matter.
Of course there are others who are in search of the "next Amazon, Apple, etc". That's not easy or even likely, but it is way more likely than winning the powerball.
I buy stocks to hold for a long time. I wouldn't buy something if I felt I needed to check in on it every week or even every month. My motivation is partly for the tax control (they are mostly in a taxable account). Of course people will retort that one can just buy an index fund for that purpose, which is true. I just believe the whole efficient market thing is way overdone. There are times when the market is very, very wrong in my estimation. It doesn't happen on any sort of timetable, but the difference between being right and being wrong on those occasions can be considerable. I'm sure many will say I'm on a fool's errand, which I can live with.
The key to buying individual stocks is using money you are not afraid to lose. If you cannot afford to lose the money, you should not be investing in individual stocks. You should put your money somewhere less risky like a mutual fund or index fund. At worst, we have a 30% general correction, but bounce back the next year.
If you have a limited amount of $ to invest, try putting half in index and the other half in a couple of individual stocks. Make sure you pick good companies.
What finally convinced you to take a st ab at buying a stock or two???
I've always been a "mutual fund" person. But a friend has just bought her first stocks, and I have to say from time to time -- I have thought about doing that. And her excitement is appealing. She's made hundreds of dollars in just two days. (She won't be trading and hopes to pass these stocks to her nieces. IF I bought I'd be holding looooong term as well.)
I've always felt that personally I'd feel I had to "watch" the stocks more than I follow what my mutual funds are doing. Do you feel that stocks need more "attention?"
These stocks would be in my Roth IRA.
Thanks.
Uhm....my clue to your mindset is that you are AT ALL impressed by money she's made in TWO DAYS. I find it hard to believe you would buy and hold thinking that way. Which is why I won't buy stocks.
I bought Apple last year and then a few shares of Amazon , both during a dip. It is not a LOT Of money but is my "Las Vegas" cash that was earning next to nothing in a money market. I plan on holding as I don't need it and so far things have done very well. Sure, it will probably go down but I like Apple products and wife keeps Amazon Prime busy so it is fun to watch. As to finding the next Apple ? I don't pretend to play that game. All other assets are very well diversified along with some real estate.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
. Regardless, I really admire your family for doing this for you from your childhood.
.
