I'm interested in beginning to invest. Need advice on where to start.

Step 1: Invest in yourself
Step 2: Keep your eye on the prize and never give up
Step 3: ???
Step 4: Profit while driving your new Tesla

You're welcome, and good luck.

 

Get a low expense mutual fund at vanguard.

I recommend a target date retirement fund, where they reallocate depending on your age.

The second step is to not spend your savings and investments on a car. Keep it separate.

 

Problem is do you have an overall view of where the overall market is headed? Most professionals I am talking to think we are at the height of the market and that we are headed towards a slowdown or recession. So if he puts his money in the SPY he can just end up losing 10+%.

If you think we are going to keep growing that is a good idea, if not then short the SPY. If you have no clue then sit on the sidelines with more conservative investments like I am right now.

 

I'm still buying PTY. It's pimco junk bond fund. It's relatively safe to buy here for a longer term investment.

Start a Robinhood account and reinvest dividends.

 

Invest in me.

I'm a winner, have you seen the balding thread?

 

head to reddit.com/r/wallstreetbets

 

Ramit Sethi - I will teach you to be Rich
/close thread

Someone had suggested this in one of the other threads, I read it and it's a life changer. Excellent book and I've put a lot of my friends on it as well. If you are just getting out of college -> early 30's you will benefit massively from this book.

Good Luck and spread the knowledge :grin:

 

Blue chip stocks with dividends are always decent...but don't expect to buy a car in two years or anything. If you get 10% returns, you'd be doing extremely well. That would be about $1K a year.

Mutual funds allow you to invest in several things at once, without having the cash for all.

You could also invest in something else (like maybe something you'd like to do for a living...start your own business).

 

Are you looking to actively or passively invest?

I suggest opening up an IRA account and investing in index mutual funds.

 

https://www.youtube.com/watch?v=YJJRApsYYsA

 

What is your risk tolerance? How upset would you be if you lost 25-50% of that 10K? Depending on your answer there are many different options from things like directly investing in the stock market, to bond, index and mutual funds.

 

https://en.wikipedia.org/wiki/Greed_and_fear

This is the most relevant piece of advice I have for someone dipping their toes into the shallow end of the pool: Work hard, study everything you can, and make considered sober investment choices using your analytical mind. Once you've done that, have the courage to stick with your convictions.

When I started investing, I regularly gave into a moment of panic and sold off something at a loss that would have resulted in big gains if I'd believed in my original decisions.

Use your head. Slow and steady wins the race. Emotions are the enemy.

I get that this is kind of vague. Its probably so vague as to not qualify as the sort of "advice" you were looking for. But it really was the first and most important lesson I ever learned, and it still is something that I fight against.

 

Take a look at Vanguard retirement funds.

https://personal.vanguard.com/us/funds/snapshot?FundId=0305&FundIntExt=INT

They basically allocate your risk based on when you are projected to retire based on age. If you want to be more conservative, move your retirement earlier.

Vanguard has some of the lowest fees.

Also set it up as an IRA so your contributions are tax deductible. Should be easy to set up from here:

https://investor.vanguard.com/ira/vanguard?WT.srch=1&cmpgn=PS:RE

 

https://www.bogleheads.org/wiki/Getting_started

 

Pumpkin stock. Sell in late September.