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The $MONEY$ thread

Discussion in 'Self Improvement' started by Ghost in the Shell, Aug 26, 2020.

  1. Hi folks! Share what you learned about finance.

    How to get a raise or a better paying job?

    How to live frugally?

    How to execute side hustles?

    How to invest?

    etc...
     
  2. Credit. Avoid it. Loans. Avoid it. Borrowing money. Avoid it.
     
  3. ....Or if you go out on dates do something that's free. Or if you go out on coffee go 10 minutes earlier order for yourself and when she arrives let her order for herself. If she doesn't like that then it's her loss.
     
  4. aricking

    aricking Fapstronaut

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    a very good thing i learned is ,we should understand the difference between good debt and bad debt,,good debt makes us more rich,if we can use it
     
  5. Well, I will be glad if someone will comment it, I haven't ever invested but I will lol, but index funds for all people if you game enough (I don't speak about monitoring the market( I mean S&P 500) for a long time and performing as many operations as possible[very unlikely to outperform the market even though you will have 170 IQ and proper knowledge], but to try to save as much as you can and invest for a long period. You won't get another Apple. Diss every myth about investment. Don't trust brokers and forums. If you choose a fund, choose with the lowest possible tax. Of course, there are some more profitable spheres (low capitalization value shares, companies with AAA-BBB rating obligations, smart diversification including a little bit of alternative investment to protect from correlation)
     
  6. Tesla stock price has grown 10x in the last 365 days. Insane.
     
  7. I used to trade stock options. At home, I lost money and discovered it was impossible.

    I did a million variations of this over a long time.

    Then, finally I quit fighting what I'd learned in college.

    I decided to take what I had and buy and hold.

    I bought shares in the SPY, IWV and DIA. ETFs that track indexes.

    They went up immediately and they pay small dividends.

    Capital gains tax in America is a joke. It probably costs the government

    more to process it than they receive.

    I started just as the dot com boom was leveling out.

    Yahoo was at 300+.

    I thought, man, this is a big nothing.

    I just couldn't get on board, and I'm glad I didn't.

    What are you doing that works and doesn't work?
     
  8. Hey, look into Dave Ramsey and his people. I think they give great advice and common sense ones as well.
     
  9. I'm not doing anything yet with regards to investing. I did buy half a bitcoin back when they were almost worthless but managed to lose access to the wallet.

    What doesn't work:
    going to store hungry or without a list
    taking laptop in your bed, leaving mess on the desk where your laptop is (it will break)
    not buying protective case and glass for your smartphone (it will break)

    What works:
    traveling in public transit without tickets if the fares are high but the fines are low
     
    BozzoBond and GhostRider@11 like this.
  10. GhostRider@11

    GhostRider@11 Fapstronaut

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    I think stock market is the best thing, I was very much interested in stock market and the power it has to magnify your money but only if you invest it with little sense. And when I realized that because of this corona pandemic stocks are in their lowest prize, I convinced my father to start investing. And during corona pandemic we made a good profit. This was my first time in investment but still since all the stocks were under priced, within few weeks all started raising up. Let me tell you I was investing in stock market of my country only. I didn't invested in american stock market. Since nothing big difference was seen in american stock market but here in my country their was a huge difference - I once even felt like a economic crash is approaching.

    What I have realized is that if you are a newbie in stock market intraday trading might look a good option, but without experience you may loose money a lot, actually it is like a coin tossing - you might either gain or loose. Even I made a great profit but also lost money. It was like gambling. Trading is a good weapon only if you know how to use it. As soon as I realized this - I stopped trading and started investing, Many stocks were at low price of about half their original price but still we diversified our portfolio to different stocks, and in any case - we knew that in long run these stocks will go up, some may grow even bigger than their original price, others might only recover. But in both cases we will gain profit. We also invested in pharma companies stocks because of corona, and as expected these companies stock price went up. Trading can be gambling but investment is not gambling - when you put money in stock market for a long time, in a specific company with proper planning than only it is called investment. I think the best time for investment is situations like corona pandemic, when market hits its bottom, this is the time you are guaranteed to get profit. I even gained money through dividends.
    I am not against intraday trading - trading should be done only when you have a strong evidence or reason for your move, Proper trading can earn you millions but it is very risky also.
     
    Last edited: Sep 4, 2020
  11. aricking

    aricking Fapstronaut

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    i also believe index fund is a great way to invest money.bcz it give good profits and compared to common stocks it is lower risk
     
  12. aricking

    aricking Fapstronaut

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    images (2).jpg i highly recommend to watch his videos,he gives great advice on finance and invest


    for book, intelligent investor-benjamin graham(warren buffets favourite book on investement)
     
    | The Monk | likes this.
  13. Yes, I also try to eat before I shop or go when I'm not hungry.

    Unless the list is short.

    Then it's shoot in and get out.

    The cashier's head spins as I flash out the door...
     
    Ghost in the Shell and aricking like this.
  14. Did you read it? I hear it's quite antiquated.
     
    Ὀρφεύς and aricking like this.
  15. exsoldier and (deleted member) like this.
  16. aricking

    aricking Fapstronaut

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    i have read it but didn't finished it yet,this book have everything you need to know about investment ,it is specially for stock investment,when warren buffet read it ,after that he even goes to benjamin graham and worked for him
     
  17. Max666

    Max666 Fapstronaut

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    Now is the time to invest in yourself rather than on making money. With the market the way it is all round the world there's really nothing to capitalize on because no one's spending, except on alcohol, video games and shit basically.
    My advice is use this time for personal development, acquiring skills, creating ideas for services and products so that when the economies do bounce back you're ready.
    And history has proven, immediately after recessions countries bounce back strong. I'm predicting there will be a lot of growth in the music and film industry next year.
     
  18. matt2k12

    matt2k12 Fapstronaut

    well the fed held up the inevitable crash in the economy that should have occured, by printing money out of thin air. we will see how that unfolds in the long run. stock prices make no sense to me; they are governed by hype and emotions. just look at tesla, it has a pe ratio rn over 1000. apple pe 30. accepting this reality, you can still invest. i did so in jd and alibaba in april and i made nearly 100% and 25% profit. however, my capital was low to begin with, so what have i earned really - 1500€ i got. thats nothing. had i more, i would have gotten more. theres really no investing when you dont have proper capital. and then again, when you have proper capital, investing in such a looney market is maybe not the most prudent idea.
    my guess is that all will go on until the nov us elections. and probably a while longer after that, jan or feb 2021. then something will happen. they will either go up or down.
     
  19. ThePeakWae

    ThePeakWae Fapstronaut

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    Avoid needless saving that isnt self-inflated, Avoid aditional subs services, Avoid maximalism, Avoid zero Sum games, Avoid Negative Games.
     
    Ὀρφεύς likes this.

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