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Investing money (beginner)



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Sukarya




 
 
    
 

Post Wed, Dec 22 2021, 12:11 pm
Hi
Regarding investing money -
I don't know anything about the topic
yet -
I want to invest, grow my money and do something so my money is secure and will grow.
Where do I start?
What do I need to know?
Where do I invest?
Is there any YouTube videos you'd recommend that I watch to gain some knowledge on this topic?
Any info you can share with me?
Thank you in advance.
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Sukarya




 
 
    
 

Post Tue, Jan 04 2022, 12:10 pm
Sukarya wrote:
Hi
Regarding investing money -
I don't know anything about the topic
yet -
I want to invest, grow my money and do something so my money is secure and will grow.
Where do I start?
What do I need to know?
Where do I invest?
Is there any YouTube videos you'd recommend that I watch to gain some knowledge on this topic?
Any info you can share with me?
Thank you in advance.

Anyone?
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Rubies




 
 
    
 

Post Tue, Jan 04 2022, 12:35 pm
The market is crashing. I don't know if now is a good time to invest other than buying land. I am not a financial advisor.
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doctorima




 
 
    
 

Post Tue, Jan 04 2022, 2:15 pm
The market isn't crashing. It hit an all-time high yesterday. OP if you're dealing with a relatively small amount of money, you should open up a brokerage account at Fidelity, Schwab, or Vanguard, and invest it in 1 or more index funds.

If you're dealing with a significant amount of money, it may be worth paying for advice from a professional. If you want somebody excellent, feel free to PM me for info.
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Rubies




 
 
    
 

Post Tue, Jan 04 2022, 2:25 pm
doctorima wrote:
The market isn't crashing. It hit an all-time high yesterday. OP if you're dealing with a relatively small amount of money, you should open up a brokerage account at Fidelity, Schwab, or Vanguard, and invest it in 1 or more index funds.

If you're dealing with a significant amount of money, it may be worth paying for advice from a professional. If you want somebody excellent, feel free to PM me for info.


I'm curious if you're aware that the few major banks like jp Morgan and Goldman were bailed out in 2019 with 4.5 trillion dollars?
Or that the RRP is at an all-time high of 1.4 trillion?
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zaq




 
 
    
 

Post Wed, Jan 05 2022, 9:41 am
Try no-load mutual funds. Ideally, you would invest small sums on a regular basis, regardless of price of shares. When prices go up, you buy fewer shares; when they go down, you buy more shares for the same sum of money. Don't even look at the share prices. Unless the fund is seriously mismanaged, you'll come out ahead over the long haul.
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Amarante




 
 
    
 

Post Wed, Jan 05 2022, 10:43 am
Before doing anything with your money read a simple book on savings and investment that explains the basics. Suzie Orman has some excellent simple books for consumers - she also "sells" her stuff but you can just ignore it and read one of her basic books. Or something like Investment For Dummies which also explains basic stuff.

No snark intended but from your initial question it seems as though you are a complete neophyte and so a basic understanding of what no-load and management fees means; IRA and Roth IRA definitions; what diversification means etc. gives you a grounding.

You might also benefit from paying a CERTIFIED financial expert to meet with you. You would pay them a one time consultation fee and so they can give you advise based on your personal situation. I would suggest doing that ONLY after you have read and understand the basics so that you can get the most benefit of the meeting by asking intelligent questions and really understanding the various options they might outline.

Do NOT use anyone who sells anything since they have an incentive based on commissions they might earn. You want a fee based CERTIFIED financial planner since they have both the educational background AND have signed an ethical pledge.

In the meantime just save as much as possible because any basic advice is going to state that you should have at least the equivalent of six months of expenses in a liquid account that you can access immediately. Once you have that amount saved in a bank or a other completely "safe" place you can start "investing" and probably at that point - as others have posted - your best bet would be to purchase a no-load index fund with low management fees. But at that point you will understand exactly what that means and why people are suggesting it - and also understand why investing a set amount each month and keeping in there is going to yield higher net results at the end than attempting to play the market. Playing the market is great but only once you can afford the losses that might occur because you are diversified.
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Sukarya




 
 
    
 

Post Tue, Jan 18 2022, 12:19 pm
Amarante wrote:
Before doing anything with your money read a simple book on savings and investment that explains the basics. Suzie Orman has some excellent simple books for consumers - she also "sells" her stuff but you can just ignore it and read one of her basic books. Or something like Investment For Dummies which also explains basic stuff.

No snark intended but from your initial question it seems as though you are a complete neophyte and so a basic understanding of what no-load and management fees means; IRA and Roth IRA definitions; what diversification means etc. gives you a grounding.

You might also benefit from paying a CERTIFIED financial expert to meet with you. You would pay them a one time consultation fee and so they can give you advise based on your personal situation. I would suggest doing that ONLY after you have read and understand the basics so that you can get the most benefit of the meeting by asking intelligent questions and really understanding the various options they might outline.

Do NOT use anyone who sells anything since they have an incentive based on commissions they might earn. You want a fee based CERTIFIED financial planner since they have both the educational background AND have signed an ethical pledge.

In the meantime just save as much as possible because any basic advice is going to state that you should have at least the equivalent of six months of expenses in a liquid account that you can access immediately. Once you have that amount saved in a bank or a other completely "safe" place you can start "investing" and probably at that point - as others have posted - your best bet would be to purchase a no-load index fund with low management fees. But at that point you will understand exactly what that means and why people are suggesting it - and also understand why investing a set amount each month and keeping in there is going to yield higher net results at the end than attempting to play the market. Playing the market is great but only once you can afford the losses that might occur because you are diversified.

Thank you for this. Very interesting. I'll look into it.
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