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Thoughts on baba?
I would certainly consult with a fiduciary professional to learn of your options and reduce your risks to your money.
Well, imo hiring an IA is not a bad idea but trust me its not worth it. I believe you can do everything yourself, all you need do is make some more research, don't invest in hypes. I remembered back then as a noob trying to trade myself I lost huge funds which got me traumatised lol. Don't give up on investment. I'm glad I didn't. I know a Legit platform where you can venture in and earn cashback. Its safe and secured! If interested DM for more details!
Skyview is a legit platform, tbh I’m surprised seeing the recommendations on here. Well, I guess when something is real and honest people will always speak good about it. Nice of you to recommend them here mate!
Rising Star
Just buy VTI. Don’t buy individual stocks.
Vanguard Total Stock Market Index Fund (VTI)
Just buy low cost index funds. Fairly sure warren buffet recommends that the average investor put their money in a S&P 500 index fund.
Financial advisors are outdated and rarely beat the market.
Trying to manage individual stock purchases yourself is time consuming and unlikely to get you better results.
Go to insidermonkey.com. Sign up for a free account. They track major hedge funds and have a list off what they buy and sell. Data is 3 months old but it’s a good guide. Personally, I look at what Warren Buffett and Carl Icahn buys and sell. I have owned 2 stocks for over 15 years. XOM and IEP. My brother in law used to work for XOM (he retired) and my wife’s family gave us XOM stocks as wedding gift instead of cash. I have been adding to it since then. Been earning dividends plus selling call options to earn a little extra cash on those 2 stocks alone.
Honestly, really good advice!
Chief
Don’t buy individual stocks. What’s your total net worth? Unless you are rich, no retail advisor is going to do better than a monkey at picking stocks. https://prosperitythinkers.com/personal-finance/three-monkeys-and-cat-pick-stocks/
I manage a stock portfolio for an investment firm. Honestly, I think most advice here is just regurgitated advice from their favourite YouTuber. DE1 is the only person that provides advice that will allow you to outperform most investors.
Index funds are fine if you don't know what you are doing. But your results will only be average. Personally, I don't like average. Warren Buffet says that "diversification" is only for people that don't know what they are doing.
If you have the time to invest in individual stocks, look up value investing. It is 100% possible to pick individual stocks. It's a secret held by private hedge fund managers. They all outperform the index. It's only most mutual fund managers that underperform the index which is why most people tell you to buy low cost index funds
I have friends that outperform the markets every year that manage Venture Capital funds, Real Estate funds and Hedge Funds net of management fees. But b/c of regulations, they cannot market to the public and their opportunities are only available to a people that they know. All enforced by U.S regulations. Look up Reg D 506b on Google. So very few people know about these people. I understand why these regulations are put in place, which is to protect people but it also provides rich people access to better opportunities.
The rich just keep getting richer and its pretty lame that the the public isn't allowed access to these opportunities to bridge the gap
If something gets cheaper do you buy more of it or less?
Read the personal finance subreddit, they have a very good flow chart to follow and wiki. Also read the JC Collins website, bogleheads, and a random walk down Wall Street if you have time.
Never buy individual stocks (unless you're a financial professional and it's your job). It's a bet, and the odds are not in your favor. Buy the broadest (most diversified) index funds you can (e.g. VTI) and leave the stock picking to professionals.
Be wary of anyone who advises you on what stocks to buy. If they could usefully predict the market, they'd be much better off trading on that analysis themselves than sharing that information with you. More likely they're hoping to drum up interest for stocks they hold so they can sell at a higher price.
Pro
Do you own a place?
No but I live in LA, it's not affordable
Chief
Are you an accredited investor?
I always suggest owning rental real estate, either directly or through a REIT Or syndication.
It’s already been said a few times but stick to low cost index funds. I’ve had some money with an advisor that buys individual stocks and would’ve been better off in an sp500 index. Do some research on different types of accounts that will fit your situation best, mainly use the tax advantages available. Don’t overcomplicate it
Invest in real estate buddy