You are taking a logical approach. Start with a small amount of money and try. For long term conservative holding, most people buy the big index ETFs that mirror the market as a whole, such as an S&P 500 ETF. If you are looking to pick and choose individual stocks, buying and selling with any frequency, then proceed with caution. Try to diversify across industries to reduce risk. Big bets on a single company can end well, go badly, or go nowhere. Best of luck to you.
This is where I started. I made money. Start there and always pay attention to your net gains and keeping them above 0. Don't make a move until you are fairly certain that your action will keep you above 0. Document EVERYTHING, every transaction and make sure you know a) what you currently owe on next year's taxes and b) what your percentage return will be. Work your way up to trying to getting more than a 5% return by learning the market and repeat the actions that will get you the highest returns until you learn something that you know will get you a higher return or help you avoid bringing in a smaller return. Calculate your risk as 1%-2% of your portfolio and never invest more than this in anything speculative or volatile. This includes crypto, NFTs, and anything new that will eventually pop up. Diversify. This has gotten me pretty far.
Edited: I meant NFTs
If you don’t know much about the companies you’re investing in, you probably shouldn’t just blindly dump money in the hope for big returns. The market sentiment right now is really volatile, arguably entering into a bear market. If you wanna go the safe route, start dumping money into $QQQ or $VOO, even $SPY. You’ll see slow and steady returns over the years, and not have to worry about the success or failure of individual stocks.
That is exactly what I am trying to avoid (blindly dumping money in hopes for big returns). I like slow and steady so this definitely helps. Thank you!!
Not a financial advisor but yea, mostly this. I do want to add: "time in the market beats timing the market" pretty much every time, and I don't think it's a horrible idea to put money in stuff you feel confident in. As long as you're not strapped for cash and/or going to panic if the market enters a downswing (which I think is kinda likely).
First thing is only invest in things you understand and patience grows your portfolio faster than chasing the run ups and dips. Figure out your risk tolerance I think doge and other crypto are great returns but equal risk so I also invest in some boring etf’s and dividends stocks to help balance out my portfolio. Dollar cost average is a huge help and just be consistent in what you invest don’t target 20 different things start with 5 and build those up and diversify to more.
I am not opposed to boring and I'd say I already know I don't want to chase run ups and dips. I feel like that's for the experts. I will figure out my risk tolerance as I go along but from experience, I'd probably say that it is not going to be extremely high. I'm the person at the casino who almost always takes her winnings and runs lol. Thank you for your response, I appreciate it.
Index funds. TQQQ has been AMAZING for me, it’s super high growth index fund and it’s one of my Best Buy’s. I’d put money into Ethereum too if there’s a dip. Its about to hit an all time high of 3k and I’m expecting a dip after it does pass the milestone that I’m gonna get in on.
I put 500 into doge as my first purchase ever back when it was only 0.05. I’m pretty sure I just got stupidly lucky, lol
But time in the market has really helped me learn trends.
Honestly I just threw 10 bucks into all sorts of random shit and just took note of what did well and what didn’t do well.
And yes, I uh, made some purchases at the absolute peak of some stocks, lol. So I had to sit on them for awhile.
But 10 bucks isn’t much to be cockblocked on. I just play with the other money.
Depends on your risk tolerance. I’m going to assume since you have a substantial savings yet only invested $500 you are either skeptical about stocks or full of shit. I’ll assume the former and we can infer low risk is what you’re looking for at this time due to small starting position. My suggestion is look into “Boomer” stocks. These are stocks like coca-cola, Ford, AT&T, and GE. You won’t see much growth but they have been around forever and can protect your wealth by always being around. If you aren’t so sure about managing your own stocks, valuations, or intrinsic value I’d suggest starting with mutual funds or ETF’s (exchange traded funds). Most mutual funds require a minimum purchase, can only purchase at a set time of day (regardless if it’s the best value for the stocks involved), they are managed by a person or persons, they invest in multiple stocks at once, and have fees with no guarantee of progress. ETF’s are traded on the stock market like stock, they invest in multiple stocks chosen by a person or computer algorithm, the time of purchase is the same time as market hours, they have little to no fee, some ETF’s use leverage which can be dangerous, and generally ETF’s based on indexes are the safest. ETF’s based on index’s like $SPY or $VOO or $QQQ are safe bets. This is since the market established in the late 1800’s it’s had growth. $SPY has an average growth rate of 8% since inception. If you are nearing retirement you might want to lower your risk by moving out of stock positions and into bonds. Both of these markets reflect one another. For specific stock recommendations you should speak with a financial advisor considering your experience level and available funds an advisor would help greatly. Lastly a ROTH IRA can help grow your wealth with stocks. Downsides are you can only invest $6k a year and you can’t take out until your retirement age. The pro’s will tell you put all of your $1000 into one investment because you wouldn’t choose a bad stock to invest in and diversified portfolios are for idiots. I will say I’m not a trading genius so my dumbass has a portfolio diversified over multiple sectors using individual stocks, cryptos, and ETF’s. Lastly this info mainly applies to U.S. citizens trading on the NYSE. Best of luck on your investment journey and don’t believe everything you see on the internet about stocks, best do your own DD.
I'd say my risk tolerance is not very high. This is mainly because I like making calculated decisions and I honestly don't know enough to be jumping all in. However, I understand the concept of "scared money, don't make money", which is why I want to keep learning. So your assumption about it being the former is exactly right.
The boomer stocks you mentioned are all the ones I am "watching". GE was the first one I bought. So far, I don't care for the having to manage my own stocks part (which may be a lazy approach) but I think that is because I don't understand all of it yet. I want to understand enough to know what I am doing, should I decide to go that route.
From all the responses I've received, including yours, Mutual Funds and ETFs are my best bets starting out so I am definitely going to start there. I'd already been reading about VOO and VTI so I will continue there and also look into the rest of the suggestions I received.
Thank you for all the information you provided and thank you for the well wishes. Best of luck to you also!
I could never buy in dollar amount, it fucks with my ocd! Anyhow like the person above said! Start with an index fund/ ETFs like VTI or VOO till you learn more.. learn the different types of investments, what are large/ mid/ small caps, dividend investment etc!
Remember that investing requires patience, real investing takes years, really decades, that way compound interest can work its magic. You have plenty of time as long as you don't waste 1p years trying to "get rich quick" It also requires cool-headedness. When people are panicking you are looking for buying opportunities, when people are riding high on a single stock, you continue to diversify.
Invest in companies you believe in for the long term, hold on for the ride and add when you beliefs are stronger than ever. Look at market Cap to determine a company's size. Individual share price does not matter, especially with fractional shares available now. Market cap = price per share × total # of shares.
Good luck.
If you want to invest into something and wait a few years or even one year VIAC is on sale right now
Edit: also ETH is solid and will hit 20k in a few years
Invest in safe beta like spy, qqq, vanguard etf’s and don’t invest all at once but average out. If I am looking for long term holding of any given stock, I invest 10% of my amount every week on red days till I have invested 100%
Depends what you want to do personally I don't think you should go with big etfs like spy or qqq since you're 401k is likely heavily invested in these etfs already. If you want to actively trade and make one day to one year trades I would start with a paper trading account (not real money fake money to practice with) and education is the most important aspect make sure to continue read books watch YouTube and Google anything that doesn't make sense. If you want to do long term or for more then a year read books about those subjects learn as much as possible and if I were you I would stay out of the market for atleast may since may is historically a bad month. Then in June or July start picking long term just maybe put aside 10% of your paychecks untill you start choosing long term and diversify like others said.
When I pick a stock, and I’m not an expert either, I have gotten to the decision based on a tiny bit of randomness and mostly research. I joined a bunch of relevant subreddits and will watch the stocks being talked about - not to necessarily buy, but to be able to start picking. Otherwise it’s like letter soup right? Easier to have suggestions and go look them all up from there. Also I try to pay attention to things I like - a year ago AMC was struggling and experts thought they might go broke. AMC is what I’d consider the best chain in the US and I love going to the movies. Even though I’m high risk and can’t get to the movies still for a while, they’re wonderful. I put a little money in there... and over time more and sold some and did it again. I still have like 11 shares I may just never sell at this rate haha. I also love Disney and in spite of them having similar issues, dumped a bit into them too. With excellent results. Anyway my point is you can think about what you normally do or need and where YOU spend money to get inspiration for stocks to check out and possibly buy into. If you’re not into tech but recognize that it’s an area with lots of potential, do your research on ETFs or simply go for long term S&P stuff. You’re likely to trend up if you spread out your money across things that naturally tend to trend up anyway.
Oh and, if something isn’t performing well, you will need to recognize when to cut losses and when to wait. If it’s a long term investment, hold it, but if you had a shorter term in mind and are down a small percent but want to put money into some other thing, taking a small loss for (hopefully) a decent gain is actually smart. You want your money to work for you.
VOO. You get 80% of the U.S. economy, crazy low fees. If VOO goes down, Congress jumps into action to get it back up. It's not like Tesla or any individual company which could go bankrupt and no one would miss it.
Also keep $5 free to do reverse split arbitrage. Sometimes a company will announce that 10 shares will now be consolidated into 1 share, which has the effect of increasing the price per share about 10x. (The exact ratio may differ.) So if you had 10 shares before the split, you'd now have 1 share that's worth ten times as much. That's a reverse split.
If you only had 1 share going in, you'd have 1/10 of a share after, a fraction which historically could not be traded. To get around fractional shares, companies will sometimes pay you the cash value of the fractional share. Other times, though, they will round you up to one full share. When they round up, the share you had bought for $0.50 is now worth around $5. You profit $4.50 with almost no risk.
I post these on Twitter (google it), just follow and turn on notifications. It's a super low risk way to make an extra $10 or $20 a month and get your feet wet trading.
What are your goals for that $1k investment? Looking to turn it into profit quickly or are you looking to see it grow over time?
***I am a financial advisor
Stay away from trading! Loook for long term investment/ growth in companies that 45k will disappear in a second if you listen to these traders running around with there heads cut off.
My advice is set a goal on how much you willing to loose before you sell whatever stock you choose to buy. There’s always that point where you need to dump and run with a loss or a gain. So get to know the highs and lows of the companies you like. You can’t rely on quarterly reports now a days. So find something that just started growing with a reasonable price. Clean energy , the company CLNE, is growing and its inexpensive. Take a look .
The important question that you need to ask yourself is: how much does this 1k mean to you? For some people, 1k is life changing, while for others, this is chump change that they impulse spend on some random crap the day they see it. If you can’t bear to lose this money, then if suggest putting it in some blue chip stocks that’ll have a hard time tanking like SQ, FB, AAPL, PYPL, etc. These stocks might fluctuate a bit more than an index, and are all tech so there’s no diversity, but they have a decently high chance of steadily going up as well. If you plan to continue adding money to this like a retirement fund then you can buy VOO, VTI, SPY, etc, but if this $1000 is for you to actively trade, then find some stocks you believe in and get your feet wet. $1000 isn’t going to get you far gains wise unless you mess with options, and that very well may be what you do if this is fun money and you don’t care if it disappears. Anyways, your willingness to lose this cash is a large factor in what you should do with it.
Im on the same boat, I had 800 dlls to start last week so I bought the following way:
CLOV: 18
MNMD: 20
CTRM: 100
GSAT: 250
F: 7 hahahaha seven.
I have no clue what I'm doing, I love numbers but never took a college class, so here I am struggling to understand all this.
31 Years Old, 2 Kids, some debt. Live in Mexico.
I’m definitely no expert and haven’t been investing for a long time, but I actually put my first investments when I was starting in SPY. I’m not a financial advisor and I am not advising you to do anything, but I agree with people saying put it into an index fund till you get your bearings. I’ve learned stocks and cryptos are really all about timing and understanding what you’re doing- understanding dips, when to buy and when to sell. It really is all about your risk tolerance. I’m fairly conservative but still open about some things, but index funds like the ones mentioned are definitely a safe way to beginning your journey. Good luck to you!
lots of good advice in here, but I also want to add that you should try to invest in companies with a market cap over 1b and a low p/e ratio (price to earnings ratio). I'm invested in some companies below 1b, but the higher the market cap the often times "safer" they are to invest in.
Stick with the brands you know. I have apple bc I have have an iPhone and use their brand, I own some shares in Microsoft and I have an Xbox and gold service. Wherever you shop like Walmart, Kmart, what brands they carry i.e. Kraft foods. Also understand what the future may hold like electric cars are more popular, and different types of energy production. Learn to have fun investing you get to own a part of the business, how exciting is that!? 👏👏
I usually start with boring personal finance advice but it sounds like you have that down. So the first question you need to answer is: What is your 401k invested in and how much do you have. This counts as the core of your long-term strategy and should effect what choices you make in your taxable account. The next question is how much time will you spend monitoring your investments. This effects what kind of strategies you will want to employ. You also need to determine how much risk you are willing to take.
Do some reading on different strategies; pick one that sounds like it will fit. Which one doesn't really matter. There are tons of ways to make money in the market, each different strategy will work better in different market environments. Put a small amount of money in and practice. Trading and investing is a skill just like playing a musical instrument or riding a bike. It takes time and effort to learn.
Acknowledge the fact that you will both lose and make money. Guard your bankroll, the game ends if you run out.
before you do anything else, consider papertrading. You have to determine what your goals are for this account. Then, you have to come up with a plan. Take a look at a few sites to help. I would look at Simpler Trading, TastyWorks and Rockwell Trading. Personally, I sell naked puts about 30 days out. I close out if it reaches 50% profit. If it drops, I hold it through closing and get assigned. Then I sell calls to cover the stock. In 2020 I increased my overall portfolio by 23%. In Q1 I'm up 12%. I hope this helps
You are taking a logical approach. Start with a small amount of money and try. For long term conservative holding, most people buy the big index ETFs that mirror the market as a whole, such as an S&P 500 ETF. If you are looking to pick and choose individual stocks, buying and selling with any frequency, then proceed with caution. Try to diversify across industries to reduce risk. Big bets on a single company can end well, go badly, or go nowhere. Best of luck to you.
This is where I started. I made money. Start there and always pay attention to your net gains and keeping them above 0. Don't make a move until you are fairly certain that your action will keep you above 0. Document EVERYTHING, every transaction and make sure you know a) what you currently owe on next year's taxes and b) what your percentage return will be. Work your way up to trying to getting more than a 5% return by learning the market and repeat the actions that will get you the highest returns until you learn something that you know will get you a higher return or help you avoid bringing in a smaller return. Calculate your risk as 1%-2% of your portfolio and never invest more than this in anything speculative or volatile. This includes crypto, NFTs, and anything new that will eventually pop up. Diversify. This has gotten me pretty far. Edited: I meant NFTs
Thank you and thank you for your advice. It makes a lot of sense. I want to learn by doing but I definitely want to proceed with caution.
Dump it all into VTI. Keep learning, keep saving money. In about 6 months, you may want to diversify into individual stocks.
If you don’t know much about the companies you’re investing in, you probably shouldn’t just blindly dump money in the hope for big returns. The market sentiment right now is really volatile, arguably entering into a bear market. If you wanna go the safe route, start dumping money into $QQQ or $VOO, even $SPY. You’ll see slow and steady returns over the years, and not have to worry about the success or failure of individual stocks.
That is exactly what I am trying to avoid (blindly dumping money in hopes for big returns). I like slow and steady so this definitely helps. Thank you!!
Not a financial advisor but yea, mostly this. I do want to add: "time in the market beats timing the market" pretty much every time, and I don't think it's a horrible idea to put money in stuff you feel confident in. As long as you're not strapped for cash and/or going to panic if the market enters a downswing (which I think is kinda likely).
First thing is only invest in things you understand and patience grows your portfolio faster than chasing the run ups and dips. Figure out your risk tolerance I think doge and other crypto are great returns but equal risk so I also invest in some boring etf’s and dividends stocks to help balance out my portfolio. Dollar cost average is a huge help and just be consistent in what you invest don’t target 20 different things start with 5 and build those up and diversify to more.
I am not opposed to boring and I'd say I already know I don't want to chase run ups and dips. I feel like that's for the experts. I will figure out my risk tolerance as I go along but from experience, I'd probably say that it is not going to be extremely high. I'm the person at the casino who almost always takes her winnings and runs lol. Thank you for your response, I appreciate it.
Index funds. TQQQ has been AMAZING for me, it’s super high growth index fund and it’s one of my Best Buy’s. I’d put money into Ethereum too if there’s a dip. Its about to hit an all time high of 3k and I’m expecting a dip after it does pass the milestone that I’m gonna get in on.
Lol appreciate the honesty. Same exact boat here. Learning but not as much as I need to. Comprehending it is something else entirely.
I put 500 into doge as my first purchase ever back when it was only 0.05. I’m pretty sure I just got stupidly lucky, lol But time in the market has really helped me learn trends. Honestly I just threw 10 bucks into all sorts of random shit and just took note of what did well and what didn’t do well. And yes, I uh, made some purchases at the absolute peak of some stocks, lol. So I had to sit on them for awhile. But 10 bucks isn’t much to be cockblocked on. I just play with the other money.
Depends on your risk tolerance. I’m going to assume since you have a substantial savings yet only invested $500 you are either skeptical about stocks or full of shit. I’ll assume the former and we can infer low risk is what you’re looking for at this time due to small starting position. My suggestion is look into “Boomer” stocks. These are stocks like coca-cola, Ford, AT&T, and GE. You won’t see much growth but they have been around forever and can protect your wealth by always being around. If you aren’t so sure about managing your own stocks, valuations, or intrinsic value I’d suggest starting with mutual funds or ETF’s (exchange traded funds). Most mutual funds require a minimum purchase, can only purchase at a set time of day (regardless if it’s the best value for the stocks involved), they are managed by a person or persons, they invest in multiple stocks at once, and have fees with no guarantee of progress. ETF’s are traded on the stock market like stock, they invest in multiple stocks chosen by a person or computer algorithm, the time of purchase is the same time as market hours, they have little to no fee, some ETF’s use leverage which can be dangerous, and generally ETF’s based on indexes are the safest. ETF’s based on index’s like $SPY or $VOO or $QQQ are safe bets. This is since the market established in the late 1800’s it’s had growth. $SPY has an average growth rate of 8% since inception. If you are nearing retirement you might want to lower your risk by moving out of stock positions and into bonds. Both of these markets reflect one another. For specific stock recommendations you should speak with a financial advisor considering your experience level and available funds an advisor would help greatly. Lastly a ROTH IRA can help grow your wealth with stocks. Downsides are you can only invest $6k a year and you can’t take out until your retirement age. The pro’s will tell you put all of your $1000 into one investment because you wouldn’t choose a bad stock to invest in and diversified portfolios are for idiots. I will say I’m not a trading genius so my dumbass has a portfolio diversified over multiple sectors using individual stocks, cryptos, and ETF’s. Lastly this info mainly applies to U.S. citizens trading on the NYSE. Best of luck on your investment journey and don’t believe everything you see on the internet about stocks, best do your own DD.
I'd say my risk tolerance is not very high. This is mainly because I like making calculated decisions and I honestly don't know enough to be jumping all in. However, I understand the concept of "scared money, don't make money", which is why I want to keep learning. So your assumption about it being the former is exactly right. The boomer stocks you mentioned are all the ones I am "watching". GE was the first one I bought. So far, I don't care for the having to manage my own stocks part (which may be a lazy approach) but I think that is because I don't understand all of it yet. I want to understand enough to know what I am doing, should I decide to go that route. From all the responses I've received, including yours, Mutual Funds and ETFs are my best bets starting out so I am definitely going to start there. I'd already been reading about VOO and VTI so I will continue there and also look into the rest of the suggestions I received. Thank you for all the information you provided and thank you for the well wishes. Best of luck to you also!
Ethereum and then forget it for a year
VTI, VOO, or VOOG.
how do you feel about VUG?
I could never buy in dollar amount, it fucks with my ocd! Anyhow like the person above said! Start with an index fund/ ETFs like VTI or VOO till you learn more.. learn the different types of investments, what are large/ mid/ small caps, dividend investment etc!
Space out your money. I’d say $250 in 4 companies. Like apple. Microsoft etc. good stable companies to keep your money safe while you learn more
Maybe even 3 reasonable companies (like the ones you listed) and one meme stock.
Remember that investing requires patience, real investing takes years, really decades, that way compound interest can work its magic. You have plenty of time as long as you don't waste 1p years trying to "get rich quick" It also requires cool-headedness. When people are panicking you are looking for buying opportunities, when people are riding high on a single stock, you continue to diversify. Invest in companies you believe in for the long term, hold on for the ride and add when you beliefs are stronger than ever. Look at market Cap to determine a company's size. Individual share price does not matter, especially with fractional shares available now. Market cap = price per share × total # of shares. Good luck.
I laughed at your 0.0298 Amazon stock
If you want to invest into something and wait a few years or even one year VIAC is on sale right now Edit: also ETH is solid and will hit 20k in a few years
ALL IN ON DOGE
Invest in safe beta like spy, qqq, vanguard etf’s and don’t invest all at once but average out. If I am looking for long term holding of any given stock, I invest 10% of my amount every week on red days till I have invested 100%
Depends what you want to do personally I don't think you should go with big etfs like spy or qqq since you're 401k is likely heavily invested in these etfs already. If you want to actively trade and make one day to one year trades I would start with a paper trading account (not real money fake money to practice with) and education is the most important aspect make sure to continue read books watch YouTube and Google anything that doesn't make sense. If you want to do long term or for more then a year read books about those subjects learn as much as possible and if I were you I would stay out of the market for atleast may since may is historically a bad month. Then in June or July start picking long term just maybe put aside 10% of your paychecks untill you start choosing long term and diversify like others said.
When I pick a stock, and I’m not an expert either, I have gotten to the decision based on a tiny bit of randomness and mostly research. I joined a bunch of relevant subreddits and will watch the stocks being talked about - not to necessarily buy, but to be able to start picking. Otherwise it’s like letter soup right? Easier to have suggestions and go look them all up from there. Also I try to pay attention to things I like - a year ago AMC was struggling and experts thought they might go broke. AMC is what I’d consider the best chain in the US and I love going to the movies. Even though I’m high risk and can’t get to the movies still for a while, they’re wonderful. I put a little money in there... and over time more and sold some and did it again. I still have like 11 shares I may just never sell at this rate haha. I also love Disney and in spite of them having similar issues, dumped a bit into them too. With excellent results. Anyway my point is you can think about what you normally do or need and where YOU spend money to get inspiration for stocks to check out and possibly buy into. If you’re not into tech but recognize that it’s an area with lots of potential, do your research on ETFs or simply go for long term S&P stuff. You’re likely to trend up if you spread out your money across things that naturally tend to trend up anyway. Oh and, if something isn’t performing well, you will need to recognize when to cut losses and when to wait. If it’s a long term investment, hold it, but if you had a shorter term in mind and are down a small percent but want to put money into some other thing, taking a small loss for (hopefully) a decent gain is actually smart. You want your money to work for you.
VOO. You get 80% of the U.S. economy, crazy low fees. If VOO goes down, Congress jumps into action to get it back up. It's not like Tesla or any individual company which could go bankrupt and no one would miss it. Also keep $5 free to do reverse split arbitrage. Sometimes a company will announce that 10 shares will now be consolidated into 1 share, which has the effect of increasing the price per share about 10x. (The exact ratio may differ.) So if you had 10 shares before the split, you'd now have 1 share that's worth ten times as much. That's a reverse split. If you only had 1 share going in, you'd have 1/10 of a share after, a fraction which historically could not be traded. To get around fractional shares, companies will sometimes pay you the cash value of the fractional share. Other times, though, they will round you up to one full share. When they round up, the share you had bought for $0.50 is now worth around $5. You profit $4.50 with almost no risk. I post these on Twitter (google it), just follow and turn on notifications. It's a super low risk way to make an extra $10 or $20 a month and get your feet wet trading.
What are your goals for that $1k investment? Looking to turn it into profit quickly or are you looking to see it grow over time? ***I am a financial advisor
Stay away from trading! Loook for long term investment/ growth in companies that 45k will disappear in a second if you listen to these traders running around with there heads cut off.
My advice is set a goal on how much you willing to loose before you sell whatever stock you choose to buy. There’s always that point where you need to dump and run with a loss or a gain. So get to know the highs and lows of the companies you like. You can’t rely on quarterly reports now a days. So find something that just started growing with a reasonable price. Clean energy , the company CLNE, is growing and its inexpensive. Take a look .
Will definitely take a look. Thank you!!
The important question that you need to ask yourself is: how much does this 1k mean to you? For some people, 1k is life changing, while for others, this is chump change that they impulse spend on some random crap the day they see it. If you can’t bear to lose this money, then if suggest putting it in some blue chip stocks that’ll have a hard time tanking like SQ, FB, AAPL, PYPL, etc. These stocks might fluctuate a bit more than an index, and are all tech so there’s no diversity, but they have a decently high chance of steadily going up as well. If you plan to continue adding money to this like a retirement fund then you can buy VOO, VTI, SPY, etc, but if this $1000 is for you to actively trade, then find some stocks you believe in and get your feet wet. $1000 isn’t going to get you far gains wise unless you mess with options, and that very well may be what you do if this is fun money and you don’t care if it disappears. Anyways, your willingness to lose this cash is a large factor in what you should do with it.
take every spare penny you have, buy ethereum. money
Im on the same boat, I had 800 dlls to start last week so I bought the following way: CLOV: 18 MNMD: 20 CTRM: 100 GSAT: 250 F: 7 hahahaha seven. I have no clue what I'm doing, I love numbers but never took a college class, so here I am struggling to understand all this. 31 Years Old, 2 Kids, some debt. Live in Mexico.
Step 1. Ignore everyone here talking about Dogecoin
Dogecoin
I’m definitely no expert and haven’t been investing for a long time, but I actually put my first investments when I was starting in SPY. I’m not a financial advisor and I am not advising you to do anything, but I agree with people saying put it into an index fund till you get your bearings. I’ve learned stocks and cryptos are really all about timing and understanding what you’re doing- understanding dips, when to buy and when to sell. It really is all about your risk tolerance. I’m fairly conservative but still open about some things, but index funds like the ones mentioned are definitely a safe way to beginning your journey. Good luck to you!
lots of good advice in here, but I also want to add that you should try to invest in companies with a market cap over 1b and a low p/e ratio (price to earnings ratio). I'm invested in some companies below 1b, but the higher the market cap the often times "safer" they are to invest in.
Buy SPY. It rhymes. Or buy VOO, it has lower fees.
ETH
Stick with the brands you know. I have apple bc I have have an iPhone and use their brand, I own some shares in Microsoft and I have an Xbox and gold service. Wherever you shop like Walmart, Kmart, what brands they carry i.e. Kraft foods. Also understand what the future may hold like electric cars are more popular, and different types of energy production. Learn to have fun investing you get to own a part of the business, how exciting is that!? 👏👏
I usually start with boring personal finance advice but it sounds like you have that down. So the first question you need to answer is: What is your 401k invested in and how much do you have. This counts as the core of your long-term strategy and should effect what choices you make in your taxable account. The next question is how much time will you spend monitoring your investments. This effects what kind of strategies you will want to employ. You also need to determine how much risk you are willing to take. Do some reading on different strategies; pick one that sounds like it will fit. Which one doesn't really matter. There are tons of ways to make money in the market, each different strategy will work better in different market environments. Put a small amount of money in and practice. Trading and investing is a skill just like playing a musical instrument or riding a bike. It takes time and effort to learn. Acknowledge the fact that you will both lose and make money. Guard your bankroll, the game ends if you run out.
Just buy bitcoin
Dump all your retirement money into ethereum and dogecoin
Just by SPY bruh. Literally can't go wrong.
Doge
Don’t listen to anyone pushing crypto to you as a newbie
Get a financial advisor
Not financial advice at all, but if it were me, GameStop, Doge, MindMed. 🙂 Happy learning.
Thank you 🤗
Cryptocurrency is a safer bet the stock market stacked against you it's the land if the bankers cryptocurrency is a new frontier perfect for the 99%
Man the quality of this subreddit has diminish.
before you do anything else, consider papertrading. You have to determine what your goals are for this account. Then, you have to come up with a plan. Take a look at a few sites to help. I would look at Simpler Trading, TastyWorks and Rockwell Trading. Personally, I sell naked puts about 30 days out. I close out if it reaches 50% profit. If it drops, I hold it through closing and get assigned. Then I sell calls to cover the stock. In 2020 I increased my overall portfolio by 23%. In Q1 I'm up 12%. I hope this helps