Any Stock Experience?
#7439264
12/23/21 07:35 AM
12/23/21 07:35 AM
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Joined: Mar 2021
Posts: 231 Michigan
PFC Davis
OP
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OP
trapper
Joined: Mar 2021
Posts: 231
Michigan
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I was curious on everyone's experience buying stock and how it has worked out for you. Because I am interested in buying some but I just lack the know how and what would be good/bad stocks to buy. The reason why I'm interested is because I heard it's a good way to make money on the side and have the money work for you. Especially since I'll be gone the next few months and I would like my money to grow a little bit more besides what the army gives me.
A good life tip:
And why beholdest thou the mote that is in thy brother's eye, but considerest not the beam that is in thine own eye? Matthew 7:3
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Re: Any Stock Experience?
[Re: PFC Davis]
#7439344
12/23/21 09:03 AM
12/23/21 09:03 AM
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Joined: Dec 2006
Posts: 5,735 Williamsport, Pa.
jk
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trapper
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Posts: 5,735
Williamsport, Pa.
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You need to find a GOOD financial advisor. Like every other field there are real active good people and a lot of so so's and some dead beats. Ask around, just because they work for a good firm does not make them good. Ask your friends and people older than you who to ask for.......jk
Free people are not equal. Equal people are not free. What's supposed to be ain't always is. Hopper Hunter
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Re: Any Stock Experience?
[Re: PFC Davis]
#7439355
12/23/21 09:20 AM
12/23/21 09:20 AM
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Joined: Mar 2021
Posts: 231 Michigan
PFC Davis
OP
trapper
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OP
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Joined: Mar 2021
Posts: 231
Michigan
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Any suggestions to look for mutual funds? Because I am quite new to all of this. Because my family hasn't really done any of the stuff being discussed here. If you could point me to some good companies to go through for mutual funds, that would be great.
Last edited by PVT Davis; 12/23/21 09:21 AM.
A good life tip:
And why beholdest thou the mote that is in thy brother's eye, but considerest not the beam that is in thine own eye? Matthew 7:3
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Re: Any Stock Experience?
[Re: PFC Davis]
#7439371
12/23/21 09:38 AM
12/23/21 09:38 AM
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Joined: Dec 2006
Posts: 4,952 PA
elkaholic
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Joined: Dec 2006
Posts: 4,952
PA
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Some of it depends on how much you want to invest.
If looking to invest a couple hundred to maybe $5000, there are plenty of investing sites that are easy to use.
If looking to invest 10's of thousands of dollars then you'll definitely want to have an advisor.
Never invest more than you're afraid to lose.
Millions of trees die every year to print environmentalist publications
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Re: Any Stock Experience?
[Re: PFC Davis]
#7439433
12/23/21 10:36 AM
12/23/21 10:36 AM
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Joined: Mar 2007
Posts: 35,182 McGrath, AK
white17
"General (Mr.Sunshine) Washington"
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"General (Mr.Sunshine) Washington"
Joined: Mar 2007
Posts: 35,182
McGrath, AK
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At your age you can take a lot more risk than someone twice your age.
If you are serious about this, an S&P 500 index fund or EFT is a good place to start. I would look at Vanguard or Fidelity groups or a broker like TD Ameritrade or Etrade.....there are several reputable avenues. Most will cost you nothing to trade. However, with mutual funds and ETF's there are annual management fees that never go away. That is one of my objections to them. Nevertheless, it's a good choice, especially if you don't have the time or the desire to learn about doing it yourself.
You do not need to hire an investment advisor. If you buy into a mutual fund, the annual fees you pay are for professional management. Of course if you buy an index fund there is hardly any management involved...........that's why their fees are so low.
Whatever you do, be consistent and make regular investments.
Be aware that at this moment the markets are extremely high and volatile. You can expect some major drawdowns over the course of your investing life.
I urge you to get involved whenever you are comfortable with the risk. It's the best way to get ahead or at least stay even in this life.
Do some reading. There are a couple easy reads on the career of Warren Buffett where a guy can at least get some ideas & concepts.
Also, try to have some fun. The more you learn, the more successful you will be.
Mean As Nails
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Re: Any Stock Experience?
[Re: PFC Davis]
#7439480
12/23/21 11:34 AM
12/23/21 11:34 AM
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Joined: Jun 2010
Posts: 270 West Virginia
WV Danimal
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trapper
Joined: Jun 2010
Posts: 270
West Virginia
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Work on maxing that TSP as soon as possible. I could only wish my place would've sat all the new hires down and drilled this into them their very first day on the job. Life happens and not everyone can reach the max but it should be a goal over a the span of a federal career. I've been there a few years and am happy with the results so far. When your annual TSP gains surpass your annual salary for 3 consecutive years, not counting your contributions, something must be right!
Trash your goals and plans for life. Just wing it and you'll never be let down!
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