Is dollar cost averaging TQQQ every month using credit card cash back redemptions a terrible idea? My idea is with a couple hundred a month, then by 2025 maybe i could have like $50k if the market stays good.

like
Posting as :
works at
You are currently posting as works at

Even with a 2% cash back card, 200 cash back per month means you are spending 10K per month. If that’s the case, I think you may want to ask other questions on your budgeting, spending, saving and investing. This seems too narrow a question

And BTW - nothing wrong in your strategy

like

I missed the ‘T’ in TQQQ. It is a bad idea without a hedge. It can drop like a rock and not recover

Look at the leveraged charts basically they go to $0. Instead look at regular index funds

likesmart

Yes, if using smaller money go for it. Just don’t recommend for life savings. I do see current upside looking at charts, but yield rates on bonds and fed policy are changing too.

like

This is a bad idea.

From the TQQQ prospectus “ProShares UltraPro QQQ (the “Fund”) seeks investment results for a single day only, not for longer periods.” … “The return of the Fund for periods longer than a single day will be the result of each day’s returns compounded over the period, which will very likely differ from three times (3x) the return of the NASDAQ-100 Index® (the “Index”) for that period. For periods longer than a single day, the Fund will lose money when the level of the Index is flat, and it is possible that the Fund will lose money even if the level of the Index rises.”

like

And what if it does not stay good or drops and doesn’t start getting good again for a few years? Just be sure you are prepared to stay in it a long time if you don’t plan to use it in the way it is meant to be used.

Cosign A1 - leveraged etfs are not good long term holds. The reason why is volatility decay. If things go well, great, but if things don’t go well you’re losing at a higher than market rate and overall it doesn’t even out. These funds are meant for short term ie market timed trading. And there are others than aren’t 3x leveraged btw. I think you might do better saving your cash back monthly and then buying into VOO or VTI (or QQQ) at good price points.

Good points but I would argue the past 5-10 yrs or even really post financial crisis have created a situation where that investment is like a long market timed play around interest rates. If that environment persists as interest rates rise is the big question. Bc if not then you have the decay issue.

Should talk to a financial advisor. Leveraged etfs have a high load and can be unsuitable for long term investments. Not financial advice

Related Posts

What's the best hotel to stay at in downtown Chicago? I'm Hilton Diamond but I'm open to switching to another chain

Question: what are the chances to get re-hired after a year if you leave your job for 1 year to move to a different country to take care of your spouse who is having mental health problems? My husband works abroad and with the travel ban he is unable to come to UK. He needs me over there but my company doesn’t have an office in his country with roles open. And I’m not fluent in the local language.

like

I see everyone saying “how many points” but how do you actually go about asking for them? Internet in my hotel room is so slow I can’t even scroll insta let alone download/send docs. “enhanced WiFi”

like

Looking for a Manager or Sr Manager based in Charlotte or willing to travel there weekly (M-Th) for healthcare tech for large hospital system. Inbox me for details.

like

Guys need your suggestion here.

Please help me with my decision.

I am 32 divorced and I have decided to not marry again also i don't have any other other responsibilities /loans etc.

Currently earning 18 lpa and I am planning to buy a car which is worth 16 lakhs. Should I go ahead or should l lower my budget as per my current salary package

like

Can H1B employer be changed when person is in india. ?

Filed for H1B extension cap-exempt. Extension got approved. Not stamped yet. Now I am moving to jpmorgan. JPMC ready to send USA after one year if H1B can be utilised. Wanted to know if H1B employer can be changed in india (unstamped visa). ?

like

Women who had kids on their 40s, what are your regrets? I'm finally pregnant after many failed attempts and sadness. Now that im pregnant I'm flipping out. Do you travel still or feel like you no longer have a life or freedom? Having alot of anxiety and not happy about how old I am having them.

like

What kind of hours does PWC risk assurance work throughout the year? Fall busy season? Also, do you travel a lot?

like

I have a 25K loan from my MBA. I paid off 100k whole, after graduation. 3 years ago, I moved my loan from federal to private ( SOFI) account. I recently lost my job. I have applied for unemployment, as the severance that I received will only cover for 2 months. Together my husband and I used to make less than 250k after tax. Now, with a loss of pay , we are going to make less. Do you think I will be eligible for Loan forgiveness?

like

Do I need to inform the USCIS/DHS I gained another citizenship? FYI I'm on a working visa specific for a certain country.

like

Where would you invest a $100k bonus in the current markets? Was thinking about a split between crypto interest accounts (in USDC), stocks, and crypto… but BlockFi legislation and general shakiness in the markets have me worried.

Just paid off student and car loans, and gave a fair bit for my parents’ mortgage.

like

Make $120k Accenture now doing tech implementations, just got offer 200k TC EY business consulting. I love my job, have a great WLB (working 20 hours per week, no travel, clear path to M in about 1.5 years) - am I an idiot for even contemplating staying? What I would be doing is more PPT/functional vs Onestream/technical which I do now.

like

Hi All, recently accepted a position in the risk practice at GT. Does anyone know if they do local travel in Charlotte or out of state travel? How much is 20% travel?

like

Hi fishes!

Kindly DM if you are working at Amex, would appreciate a referral for a Data Science role. I will share the job ID via DM.
TIA

PwC: for those laid off, how much does Cobra cost for us? Or can someone point me in the right direction? Only have 2 days to transfer 401k, wealth builder, and insurance/etc so scrambling now

like

Hi friends, recently I got 16 lpa offer. And I have 6.5years experience. In this 6.5 years experience I never did tax declaration. In my current company portal May 15 th is the last date to declare IT tax.

So my doubt is do I need to do tax declaration in my current company portal. If I do that means, whether want to know that will reflect in my new company salary?? What to do totally confused about this part...

like

After missing my connecting flight, I checked in to the airport Westin and got upgraded to a 'Tarmac view' room because of my status. Not sure which of these details is most depressing

like

Anyone in Southwest Florida know of Healthcare worker relief funds that are legitimate? Fort Myers and the surrounding areas were devastated and many critical workers have lost everything. Hospitals are evacuating and staff are moving away from whatever is left of their homes…please advise

like

AMEX caught up and is now charging me the fee for the platinum card. Anyone have any advice on which airline to use since they no longer reimburse gift cards? Don’t want to cancel, but $550 is a lot

I have a boss from hell. She’s the GM of my hotel and she is a mean girl that never grew out of highschool. She loves gossip. She will trash talk her employees with other employees and once her toxic garbage starts to leak amongst us peons she will send a group text telling us all to stop spreading rumors and to stop being bullies like she isn’t the mean kid with a magnifying glass torturing ants for no reason. I want to stand up but I’ve seen her retaliate on people who have tried to. Help.

like

More Posts

Let's do a salary thread for fraud and forensics pros:

Post your - Salary - City - Years of experience - Qualifications you hold.

Fishbowl will circulate the data once we've reached 100 responses, so make sure to share with your coworkers.

likehelpful

Hello people,
I'm Web developer with experience in the following:
1: Front-end/Back-End developer using Vanilla Front End stack and python/php for Back-End.

2: Cloud computing, I have been working with Google Cloud's firebase and recently started working AWS.

3: Linux, shell, shh, and Git.

4: I have been doing Web scraping, data extraction and autimation using python and it's libraries.

What I'm looking for: an internship in Web Development and/or Web scraping/automation, paid or unpaid.

like

Recommendations for swim wear for 32ee ?

like

Does anyone travel with a roller? If so, what are your favorite travel friendly ones?

like

Any advice on where to network with ad peeps in LA? Any happy hour places or just cool industry spots?

like

Hello fishes..
I need some serious advice.
I have been applying for a while now to many companies in last 12-14 months. However I am not able to convert them into offers. 2-3 times I was having more or less same skill set as per JD but didn't pass the 2nd round with leadership team.
My profile in brief
BE Electrical + MBA operations
5 YOE mostly in Supply Chain/Operations Consulting
Currently working in Supply Planning/Inventory planning at GMI
NP: 3 months
Please help

Where are the good non-agency places to work in NYC? I want a break from the rat race but not so much a break from the dough. Is that possible?

like

Is it good to leave the company in 2 months?

like

If BCG is technically a corporation - “The Boston Consulting Group, Inc.” - then what are the Partners “partners” in? Is there a legal definition of partner the way there is for a Big-4 partner?

like

I learn quickly compared to many of my peers. I'm working with a staff that learns very, very slowly and is not meeting expectations after 6 months. Tips/advice on how not to lose it?

like

As a recent SWE bootcamp graduate is it risky to try and negotiate yoyr first offer? What are the chances of it getting rescinded asking for ~$5k more? There is already a sign on bonus included $4k.

Bit loafers with or without socks? Nordstrom has good sales on some of em right now

And finally I can sleep better for 4 days! Happy thanks giving to me! 😊🍺

like

Barclay's providing Free Food ??

I heard from my friend they are providing in Noida.

Is it applicable for chennai !!!

like

If you pursue an mba while working at Deloitte (top 10) would they adjust your pay to mba level once your complete it ?

funnylike

You think Metaverse is going to be a game changer?

like

DM if anyone interested

Post Photo
like

Hi All,

Got an offer from CTS , the joining date is 17th Oct but my release from current org is not before 7th Nov. I told the HR about this clearly, but he still made it 17th Oct stating that this can be extended. Would this work? Anyone has amy thoughts about this?

like

Has anyone braved the gym since it reopened out here in SoCal? What are your experiences so far? Currently have LA Fitness since I don’t need much from my gym. But open to upgrade to Equinox if it’s safer/more sanitary.

like

I’m thinking about increasing my wealth but wanted to see what options I have. I don’t know much about stocks. I know real estate is a good way but not sure I have enough money for a second home right now. What other ways do you make extra income? My background is in audit, anything I can do with that in the side?

like

Additional Posts in Personal Investment Chatter

Thought I’d invest $20K when the market dips due to election but...

like

Should be close to breakeven after todays market gains (Invested around 60k during early days of market decline). How many of you are thinking about pulling money out today?

like

Are there any ETFs for blockchain companies?

like

Looking for recommendation - books, blogs, podcasts etc to learn about investment in stocks, bonds, options, commodities etc? TIA!

like

Has anyone invested in real estate using Lofty AI or PocketProperties? It seems like a good way to dip my toes into real estate - the minimum amount is $10-50 and I would benefit from receiving rent payments proportional to ownership and appreciation in value.

like

Left KPMG last year to move to smaller consulting firm. I still have my 401k over there and haven’t rolled it over anywhere. What are my best options? Currently maxing out 401k

helpful

Was anyone else surprised when they learned at the average US worker makes $53k?

likefunny

Anyone else buying Series I bonds right now? What are the pros/cons?

like

Would you recommend an associate making 90k base in NYC prioritize maxing out their 401k and Roth IRA even if it means they won't save beyond that? Assume debt has been paid off and 3 month emergency fund in savings

like

Fully aware this is a newbie question. Looking for the best way to get started in purchasing stocks. I used to use E-Trade back in high school like 11 years ago, but stayed away to focus on paying

like

What are some ways you guys earn passive income (other than stock market) ?!

like

New hire out of undergrad thinking about investing/saving—seeking advice. Details in comments: 15k sitting around in checking/savings account with interest close to nothing. Been reading posts here an

I make $140k in New York. Should I invest a Traditional 401K or a Roth 401K or do a split?

like

If I’m above the Roth income limit, can I do back door Roth for my Roth IRA and mega back door Roth for my Roth 401k? And does back door Roth count against contribution limit for mega back door?

like

VOO, VTI or ARKK for first investment in Roth IRA? 23 years old for context.

likehelpful

Should I buy a bitcoin? Currently don’t own any crypto and curious what the future realistically holds

If you have a side gig/small company that you run while working as a consultant, how much extra compensation does that bring you in each year, on average?

like

Hey all! I would appreciate some feedback on my investing strategy: I want to buy QQQ3X when QQQ goes below 118$. I believe a major market reversal (a crisis) should take place in late 19 or (cont)

Currently building a house, 6 months to go and have down payment and a little more in a HYSA. Is it wise to put the remaining in an S&P 500 ETF to capture some of the bull market or hold onto cash?

How do you calculate what tax bracket you will be at when you retire? Keep reading choose the option based of what tax bracket you will be at retirement but I literally have no clue

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal