i really want to invest a little into some stocks

[J-rod]

anyone here play the market? i was wanting to start but cant afford to pay a broker. i thought about using $500 to start as that seems to be the minimum on some places.

what do you stock players recommend? who to go with?
and do you feel now is a good time to buy in while its low?

:thmbsup:

[scott5]

i was jsut going to post this thread last night actually.. I am also interested in getting in the game.

[SonofaBish]

The market fell hardcore yesterday... largest loss since 9/11.... it had been on the longest uprise without a major correction since the 50's (or so i read in the paper)....
i'd wait to see if it will plummet again, but for sure try to get in when u think its at its lowest point...
One thing you have to remember is... if its in the newspaper or you're reading about it, then you're already too late...

edit: do research on mutual funds too! great diversification and some of them have a good, consistent, high yield.... If you're young, you cna be a little riskier with your choices, but I personally think mutual funds are a good way to go - not too risky, but enough that they net nice returns.

[One Sweet Day]

I actually do finacial work for families....
It doesn't cost anything, first off.
I personally invest in mutual funds. there are many reasons for this. one is that you still earn high percentages (we average 12-25%) with a little bit less risk. risk is a good thing, but with stocks if the one company goes under so does your investment. in a mutual fund there are an average of 100 companies, the only way it is going under is if all the companies go under on the same day. we deal with well known companies like johnson and johnson for example. also our managers are performance based paid, meaning, if your not making money, their not making money. plus each one has over thirty years experience with their individual fund that they manage. you can start a mutual fund for only $25 a month, which is nice to teach kids how to put that money away. also, kids have a lot more doubling periods in their life. for example if you are earning 12% on your fund your money is doubling ever 6 years. you can also do a one time deposit like you mentioned Jared, just to get a feel for how it all works. I think this is long enough, so if anyone has any questions or wants more info feel free to pm me! we also do mortgages, debt elemination, funding for school, and much more! all information and time spent is at no cost what so ever! hope this helps a little. investing is great! your money working for you instead of you working for your money! more time to work on cars...and money to do so! lol you guys found my third passion, sorry!

[J-rod]

well im 25 so i guess im still kinda young. my job is great excelt there is no retirement package available. so i was looking at stocks to make me som money over the next many years. i currently have an ING savings account at 4.5% but i want to do better. i also have a shitty savings account at our local credit union which i use for my sons savings bonds and college savings account. it is a crappy .5%.

i will have to look into mutual funds a little i guess.

i kinda thought since the market dropped yesterday that this week would be a good time to try it.

[Viper_ed]

i also have a shitty savings account at our local credit union which i use for my sons savings bonds and college savings account. it is a crappy .5%.

I'd at least move that to the online savings account. The one I sent you a while back is currently at 5.05%. Seems like they are constantly paying a higher % than the ING account.

[One Sweet Day]

The market fell hardcore yesterday... largest loss since 9/11.... it had been on the longest uprise without a major correction since the 50's (or so i read in the paper)....
i'd wait to see if it will plummet again, but for sure try to get in when u think its at its lowest point...
One thing you have to remember is... if its in the newspaper or you're reading about it, then you're already too late...

edit: do research on mutual funds too! great diversification and some of them have a good, consistent, high yield.... If you're young, you cna be a little riskier with your choices, but I personally think mutual funds are a good way to go - not too risky, but enough that they net nice returns.
the market has to go down at times, but thats a good thing...actually for mutual funds a great thing, because it is like your getting your stocks for sale! so you get more shares for your money.

[One Sweet Day]

I'd at least move that to the online savings account. The one I sent you a while back is currently at 5.05%. Seems like they are constantly paying a higher % than the ING account.





our lowest mutual fund is at 12%

[J-rod]

I'd at least move that to the online savings account. The one I sent you a while back is currently at 5.05%. Seems like they are constantly paying a higher % than the ING account.


i was considering moving the local account. is it HSBC or emigrant direct you have? i forget.

[Viper_ed]

Emigrant Direct

[coralcoupe1993]

The market fell hardcore yesterday... largest loss since 9/11.... it had been on the longest uprise without a major correction since the 50's (or so i read in the paper)....
i'd wait to see if it will plummet again, but for sure try to get in when u think its at its lowest point...
One thing you have to remember is... if its in the newspaper or you're reading about it, then you're already too late...

edit: do research on mutual funds too! great diversification and some of them have a good, consistent, high yield.... If you're young, you cna be a little riskier with your choices, but I personally think mutual funds are a good way to go - not too risky, but enough that they net nice returns.


http://articles.moneycentral.msn.com/Investing/Dispatch/070227markets.aspx (http://articles.moneycentral.msn.com/Investing/Dispatch/070227markets.aspx)

[gmkillr]

Dosent your work offer a 401-K??
If so then get in it, even if they dont put in anything.

[J-rod]

Dosent your work offer a 401-K??
If so then get in it, even if they dont put in anything.


no they dont. no benefits here....i pay for everything on my own.

[Viper_ed]

no they dont. no benefits here....i pay for everything on my own.

And you passed on the other job? :wtf:

[J-rod]

And you passed on the other job? :wtf:

didnt offer any as well.

the one job i turned down that had benefits and shiit...wanted me to take what is now a ~1300/month pay cut.

[Viper_ed]

didnt offer any as well.

But you said it was more money?

[J-rod]

But you said it was more money?

i have turned down 2 jobs this month.

job 1 - pay cut + benefits. (although deduct another 400/month for insurance, etc.)

job 2. more money but no insurance or benefits.

current job - i got more money over job #2 offer, paid education, and mileage. still no insurance or benefits.

this is why im loking into stocks, mutual funds, etc. and paying for private insurance sux.

[racefan]

Hey you guys that want to invest some money, just sent it to me and i will take care of it for you. Write the check to 5TH. STREET RACING. Thank you in advance,,,,,

[Viper_ed]

Hey you guys that want to invest some money, just sent it to me and i will take care of it for you. Write the check to 5TH. STREET RACING. Thank you in advance,,,,,

This isn't to support the Gay Hot Tub Fund is it? :p

[SonofaBish]

http://articles.moneycentral.msn.com/Investing/Dispatch/070227markets.aspx (http://articles.moneycentral.msn.com/Investing/Dispatch/070227markets.aspx)


right
also, incase you all think i'm nutz about it beign the longest run without a large correction since the 50's... http://www.usatoday.com/money/markets/2007-02-28-mart-cover-wed-usat_x.htm

[SonofaBish]

well im 25 so i guess im still kinda young. my job is great excelt there is no retirement package available. so i was looking at stocks to make me som money over the next many years. i currently have an ING savings account at 4.5% but i want to do better. i also have a shitty savings account at our local credit union which i use for my sons savings bonds and college savings account. it is a crappy .5%.

i will have to look into mutual funds a little i guess.

i kinda thought since the market dropped yesterday that this week would be a good time to try it.

yea... like i said, and OneSweetDay backed me up on, the mutual funds are a spectacular way to go.....
If you can set aside even a little bit out of each paycheck right now, by the time you retire, it can really amount to a lot. For example, the "rule of 72" is a very good estimation for how long it takes money to double at a specific interest rate.
72/(100*i) = # of years it takes money to double at a specific interst rate i ...
e.g. at 7.2% interest rate, it will take 72/(100*.072) = 10 years.... so @ age 25, your money will double atleast 4 times before you retire... and since you'd keep adding to it every month... it'll really add up....

[J-rod]

yea... like i said, and OneSweetDay backed me up on, the mutual funds are a spectacular way to go.....
If you can set aside even a little bit out of each paycheck right now, by the time you retire, it can really amount to a lot. For example, the "rule of 72" is a very good estimation for how long it takes money to double at a specific interest rate.
72/(100*i) = # of years it takes money to double at a specific interst rate i ...
e.g. at 7.2% interest rate, it will take 72/(100*.072) = 10 years.... so @ age 25, your money will double atleast 4 times before you retire... and since you'd keep adding to it every month... it'll really add up....


im loking into those now. i just need to figure out which fund to go with, which company, and how/if i can do automatic deposits each month.

[SonofaBish]

if you want another formula to look at... you might wanna say.. ok, how much money will i have in "n" years if i deposit "x" every month for the next 40 years.

at an assumed interest rate, i :

Future Value = FV = x*(((1+i)^n)-1)/ i)

e.g. if you deposit $20 every month over the next 40 years at an interest rate of 5% anually (making i(sub12) .05/12 = .0041666) :
20*(((1.0041666)^480)-1)/.0041666) = $30,520.40

pretty substantial if you ask me... and that's a measly $20

[SonofaBish]

or if you know you want a $1M at retirement, choose an interest rate that you think you'll never go under, and solve that equation backward for "x"



pretty simple stuff really... a lot of people just don't understand the concept of saving until its too late... I'm an Actuary in health care now, but i used to do retirement for a worldwide actuarial consulting firm, and it was apalling sometimes to see how many ppl were pathetically prepared for retirement.

[J-rod]

if you want another formula to look at... you might wanna say.. ok, how much money will i have in "n" years if i deposit "x" every month for the next 40 years.

at an assumed interest rate, i :

Future Value = FV = x*(((1+i)^n)-1)/ i)

e.g. if you deposit $20 every month over the next 40 years at an interest rate of 5% anually (making i(sub12) .05/12 = .0041666) :
20*(((1.0041666)^480)-1)/.0041666) = $30,520.40

pretty substantial if you ask me... and that's a measly $20

is a nice chunk of change for $20/month

i would like to do at least $100/month into one of these accounts and still maintain my other 2 savings accounts

could you solve it real quick for $100/month.

[SonofaBish]

is a nice chunk of change for $20/month

i would like to do at least $100/month into one of these accounts and still maintain my other 2 savings accounts

could you solve it real quick for $100/month.

152,602.02

[SonofaBish]

Theres also a bunch of stuff you wanna look at as far as how much money you want for retirement. The general rule we always used was that you want to be able to have 70% of your final years' pay for each year of retirement to maintain your current living style.
So, for arguments sake, if you made $100/yr when you were 65, you're going to want $70/yr. to maintain your current lifestyle (and of course inflation can cause changes to this, but you get the point)...

So, lets say you assume you will be making 80,000 salary per year when you retire.... then you want to have enough money set aside so that you can have 80,000*(.7) = 56,000 per year through retirement. Well, to know how much you need at age 65 to acheive this, you need to make an assumption for how long you'll live. So we'll say you live to age 85 (20 years).
You're going to need $707,118.13 in your bank account at age 65 to acheive this (this assumes your money continues to get 5% annual interest throughout retirement).

Therefore, to get 707,118.13 at age 65, you need to put aside $463.37 per month for the next 40 years.

edit: i'm leaving work soon and i can update further with more formulas when i get home if you want to be able to mess around with this urself

[racefan]

No it is not for that, we already have a shock system to fry those tweebs!! It's racing funds that we will invest in. Sell that non racing show Bitch and invest with 5TH. STREET RACING for a good return!!!!

[One Sweet Day]

yea... like i said, and OneSweetDay backed me up on, the mutual funds are a spectacular way to go.....
If you can set aside even a little bit out of each paycheck right now, by the time you retire, it can really amount to a lot. For example, the "rule of 72" is a very good estimation for how long it takes money to double at a specific interest rate.
72/(100*i) = # of years it takes money to double at a specific interst rate i ...
e.g. at 7.2% interest rate, it will take 72/(100*.072) = 10 years.... so @ age 25, your money will double atleast 4 times before you retire... and since you'd keep adding to it every month... it'll really add up....


you know the rule of 72? only like 5% of the population knows that rule! nice to hear! good advice!:highfive:

[SonofaBish]

you know the rule of 72? only like 5% of the population knows that rule! nice to hear! good advice!:highfive:

haha, like i said, i'm an Actuary... if it has to do with interest theory/calculus/statistical methods, i know it.... (or atleast have learned it at one point)

[J-rod]

you two have been a big help. got me thinking a mutual fund is more want im looking for in the long run. tried talking to the mrs about it and she said "i dont know anything about that stuff, i dont want to know anything about that stuff. just dont loose all our money" :rofl:


now i just need to decide what company and what fund to go with. i tried looking at your companies site one sweet day...but it confused me a little, about the fees and what not. i looked at scottrade and they had some no fee ones there :dunno:

[One Sweet Day]

you two have been a big help. got me thinking a mutual fund is more want im looking for in the long run. tried talking to the mrs about it and she said "i dont know anything about that stuff, i dont want to know anything about that stuff. just dont loose all our money" :rofl:


now i just need to decide what company and what fund to go with. i tried looking at your companies site one sweet day...but it confused me a little, about the fees and what not. i looked at scottrade and they had some no fee ones there :dunno:


no fees! none...what you put in is what get put in!:goodidea: pm'd

[stanggrrl]

The best advice I ever read ANYwhere was The Motley Fool. They have their own web page, radio show, etc. Sort of like investing and money management for dummies. I took their advice and consistently picked the highest yielding funds for my 401Ks.

I found an all-in-one CPA/Financial Planner/Broker 6 years ago and am very pleased. Mutual Fund performance (even when most funds showed a loss mine showed a modest gain) has been good. I'm in it for the long term and I don't think I'll be disappointed. Since I found these mutual funds, I've yet to find a better family of funds. (Outperformed BlackRock, Fidelity and Vanguard who I'd been forced to deal with in the past.)

Buy/sell stocks? A fool and his money... Better off taking the $ you'd invest in stocks and play the slots. Unless you're VERY knowledgeable about business and the markets.

[sutyak]

Mutual Funds = Good
Day-Trading = BAD

Find a good company like Fidelity and set yourself up some mutual fund investments.
Everything is done for me through my company, so I don't really know where to start from scratch.
https://401k.fidelity.com/401k/tools.htm
or just www.401k.com (http://www.401k.com)

[J-rod]

no fees! none...what you put in is what get put in!:goodidea: pm'd


replied. ill be in touch :pinkthumb: