I’m all in stock index funds for my 401k. It is tempting as fuck to move it all to bonds right now because you KNOW there’s a correction from this coming at some point some where. But that also goes against my general rule against trying to time the market.
Bah.
Always remember…
What goes up…
Looks like the markets will slowly go down now…
I made my money for the year and have backed off for a bit, not sure when things are going to start trending down, but I am ok walking away with money in hand.
Same… everything looks too scary to invest in. The only thing I can think of is putting 10-20% on gold. Stock Market and even property market seems overheated. Starting a business seems like the safest option in times like these.
I have a good amount of gold, I’m willing to go hard if it drops below 1K.
I’ve been enjoying the volatility of natural gas. (Making cash when it goes down.)
Past that I’m waiting for investors to start pulling out and the Dow hits that 7-8k mark. Then dump everything in that and hold for 3-5 years.
Dont know when that will happen, maybe after the 4Q earnings are released or when the feds increase interest rates again.
Idk about starting a business now. People might be tight on cash especially with fed increases in 2017.
(Could workout with a good plan and no debt though.)
well while yall being scared, ive been making money, the trend is your friend, you buy the dips on strong stocks in a uptrending market until it is no longer an uptrending market. if you play short term, its easier to buy the dips in a uptrending market then it is to try bottom fishing in a downtrending market.
Starting to look like 2000 and 2008 all over again. Hey, what do you know… Between 2008 and now is an 8 year difference, just like from 2000 to 2008…
yea ive talked about this with my friends, coincidentally there were huge events each time, 2k was the tech bubble, 08 was the housing crash, plus the fact the fed were raising rates too aggressively, what will it be this time? i thought for sure 2016 was going to be the bear market, it started out that way, but things have turned around.
credit card debt, payday loans, new car financing, and just debt all around in general. Alotta people below the age of 30 or sodon’t have a life savings. And by life savings I also mean investments. All they have is their paychecks from paycheck to paycheck. Now, tell me that is not a bubble waiting to happen…
I think the financial IQ of the average person is pretty low. In general, I think it is in corporate interests for Joe Schmo to stay pretty ignorant of how the system works so they can find out the hard way when they get all tied up with student loan debt, credit card debt and/or payday loans. Dave Ramsey built an empire off telling people to stop being dumb with money. If I ever have a kid I am going to spend a whole lot of their youth teaching them about how finance, debt and investing actually works. People I work with act as though I am some kind of sage because me and my wife live on one of our incomes, in case one of us is ever fired.
they dont really teach financial literacy in school, so unless you take the initiative yourself, most people dont/wont know anything about it. everyone at my job thinks im some guru because i follow the stock market and invest/day trade. im just an average joe who wins some and losses some lol.
just like how P.E. was a requirement when i was growing up, they should have some sort of finance class you take every year of high school that is required.
yea ive heard student loan debt is a huge bubble waiting to pop.
This literally described just about 9/10 people I see on a regular basis. My sister literally has negative net worth because of student loans. She makes 60k/year and instead of saving she blows half her money on rent living right next to corporate and the rest is on food and extras. Nothing is left. Had to lend her 500 bucks today because she couldn’t make it to her fortnightly payday. Unlike most strangers I’ve explained to her the folly of it all but it falls on deaf ears. I have never taken a business class or economics in my life but I understand this concept of budgeting, saving, and investing. I have this funny feeling that all those resident evil/RPG/Survival horror games has trained me over the years to play the game of life better.
Students loans have been poppin’ since mid 2000’s. Even the new generation of students are getting warned by their older siblings that college/uni is a scam.
OK any tips on how to start? Only thing I’ve been doing really is putting up money on my 401k. I’ve been wanting to put some money on roth ira but I have absolutely no idea how to start. I tried going into stocks but I probably need a dummy guide for it
You can start learning how to budget properly. That’s what I recently started doing and it really helps me see what I’ve been wasting money on. Every successful business person has a budget.
If you already have a budget then awesome :tup:
To be fair, there are plenty of smart ways to get whatever degree you are looking for without spending accruing a lot of debt. Most people just don’t put in the work to figure out how.
You’d need a brokerage account to start investing. Its easy to set up.
Though you’d want to look around for trying to find w/e the best fees and services meets your needs. Though in America you’d need 25,000.00 dollars in your brokerage account to day trade. Or your stuck with 3 - 5 trades a week.
(iirc, Its the federal reserve that put up that restriction.)
Its easy that an idiot like me can catch the dips and ride waves. Main goal is DONT GET GREEDY.
For the time being. I wouldnt invest in the long term and invest in short terms. Not until the shit crashes, then go in like Warren Buffett!
Those trade fees are nuts though. Why not just go to a place like Betterment or Vanguard and get a robo portfolio(because the pros are guessing like everyone else and the stock market is managed by super computers)? Like there are many people that get absolutely crushed off of the fees alone. Even worse buy low sell high is too much of a generalization. You have to know the market for the things you want to buy. For example, I weak off of the sheer number of oil stocks people were buying for a market that isn’t cutting production any time soon.
There’s an app called Stock Trainer on the Google Play market that’ll show you how it is to live as a day trader with the real prices of today. Yahoo finance app is also a wonderful way to keep track of prices. In general, you can either win big or get crushed, and once again, you have to buy and sell a relatively large volume of stocks to not get slaughtered by fees.
If you feel like you have the stomach and time for it, day trading can cause you to lose a large amount of money very quickly or make money very quickly.
If you want to lower your risk a bit, you can always go to websites like the ones mentioned and have an automated portfolio.
And lastly, if you are risk averse do not go into the stock market. You will look at your money too often, and pull out and eat a loss. I suspect that there are plenty of day traders here, but I don’t have the balls that alot of this thread. That’s why I read this thread for insight but stay out of the kitchen.