Stocks

RockHardTen1985 · #1 11-01-2010, 06:02 PM

I admit to knowing nothing, not even knowing where to start.
Please no bullshit responses, PLEASE. I know there are a lot of smart people who can comment on this. If one wanted to start out/ get into stocks and was willing to put $500 a month into it, how would you go about it? Is $500 a month pennies in the stock market? Can you make $ off it?
Thanks.

herkhorse · #2 11-01-2010, 06:20 PM

oh boy

3kings · #3 11-01-2010, 06:35 PM

Quote:

Originally Posted by RockHardTen1985

I admit to knowing nothing, not even knowing where to start.
Please no bullshit responses, PLEASE. I know there are a lot of smart people who can comment on this. If one wanted to start out/ get into stocks and was willing to put $500 a month into it, how would you go about it? Is $500 a month pennies in the stock market? Can you make $ off it?
Thanks.

Actually at your age $500. would be a good start. Pick a fairly aggressive mutual fund from a company that has low fees (Vanguard would be an example) and put it in every month. That would be a good start. Also you should put $50 in a college fund for your kids every month even if this means you can only invest $400 for yourself.

Stop betting on sports other than horse racing, you will never win. It is too hard and you bet with your heart too often. Your opinion on horse racing is decent but just do it as a hobby.

#4 11-01-2010, 06:40 PM

Just sell weed.

RockHardTen1985 · #5 11-01-2010, 06:41 PM

Quote:

Originally Posted by 3kings

Actually at your age $500. would be a good start. Pick a fairly aggressive mutual fund from a company that has low fees (Vanguard would be an example) and put it in every month. That would be a good start. Also you should put $50 in a college fund for your kids every month even if this means you can only invest $400 for yourself.

Stop betting on sports other than horse racing, you will never win. It is too hard and you bet with your heart too often. Your opinion on horse racing is decent but just do it as a hobby.

Im strongly considering stopping totally on sports, maybe a bowl game or super bowl w/ a local book, but closing online accounts. I put $70 a month away for my sons, its been that way for 6 years now since Dom was born.
The vanguard, my uncle mentioned that... $3000 up front?

RockHardTen1985 · #6 11-01-2010, 06:48 PM

Also what can you realisticly make? Should you expect to lose your $?

3kings · #7 11-01-2010, 07:03 PM

Quote:

Originally Posted by RockHardTen1985

Im strongly considering stopping totally on sports, maybe a bowl game or super bowl w/ a local book, but closing online accounts. I put $70 a month away for my sons, its been that way for 6 years now since Dom was born.
The vanguard, my uncle mentioned that... $3000 up front?

Whatever you can afford. You are young enough that it will build over the next 40 years until you need it.

I've done a lot of the same stupid crap gambling that you have done. That's why I gave you a little advise to get out last year when I sensed you were getting in trouble. I bet 10-15 games a year now only when I have a strong opinion and it works for me.

RockHardTen1985 · #8 11-01-2010, 07:14 PM

Quote:

Originally Posted by 3kings

Whatever you can afford. You are young enough that it will build over the next 40 years until you need it.

I've done a lot of the same stupid crap gambling that you have done. That's why I gave you a little advise to get out last year when I sensed you were getting in trouble. I bet 10-15 games a year now only when I have a strong opinion and it works for me.

I bet 10-15 a week. Im taking a stand tonight on a game I LOVE. I am officialy done, if it does not work out.

Back to stocks, is losing your $ likely?

RockHardTen1985 · #9 11-01-2010, 07:17 PM

I really want to learn. Is it something you can make a quick score on, or is it long term stuff?

3kings · #10 11-01-2010, 07:28 PM

Quote:

Originally Posted by RockHardTen1985

I bet 10-15 a week. Im taking a stand tonight on a game I LOVE. I am officialy done, if it does not work out.

Back to stocks, is losing your $ likely?

To answer your question, if you are investing for the long term, historically you shouldn't lose money. If you put your money in and out and move it around all the time, there is a chance that you will lose money.

I only invest in funds and stocks as a vehicle for retirement. If I make a big score on a stock or two I just buy something else with the profits. I don't need the money I invest for day to day life.

Dahoss · #11 11-01-2010, 08:46 PM

Oh my god

dalakhani · #12 11-01-2010, 09:37 PM

Nov 1, 2010. 7:02 p.m

The start of the second dip of the recession.

clyde · #13 11-01-2010, 10:51 PM

That were funny!!

chucklestheclown · #14 11-02-2010, 05:23 AM

Quote:

Originally Posted by dalakhani

Nov 1, 2010. 7:02 p.m

The start of the second dip of the recession.

Not enough money to make a real impact. If it were Delta Downs there could be trouble.

RockHardTen1985 · #15 11-06-2010, 05:35 PM

What exactly is a mutual fund?

herkhorse · #16 11-06-2010, 06:28 PM

stop.

RockHardTen1985 · #17 11-06-2010, 07:09 PM

Quote:

Originally Posted by herkhorse

stop.

You clearly know, I never cared enough to know, so help... I know its a # of different stocks, but what exactly is it?

Danzig · #18 11-06-2010, 07:27 PM

if you don't even know what a mutual fund is, i suggest you go to a financial advisor that handles smaller amounts and getting a bunch of advice. get help, or you'll do as well with your investing as you do with your football betting.

clyde · #19 11-06-2010, 07:29 PM

RockHardTen1985 · #20 11-06-2010, 07:30 PM

Quote:

Originally Posted by Danzig

if you don't even know what a mutual fund is, i suggest you go to a financial advisor that handles smaller amounts and getting a bunch of advice. get help, or you'll do as well with your investing as you do with your football betting.

I have someone already, he said if you can afford only $500 a month I suggest a mutual fund to start.... Leave the stupid comments out, PLEASE. Thanks.