Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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I'm not entirely sure who my current Roth IRA is with, but based on the short phone conversation I had with my mom, I am pretty sure it has some index funds and a short cap ETF as well. I can figure...
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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Do you have an emergency fund?
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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Yes I do.
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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What kind of things should I be looking for in my current Roth IRA brokerage?
Also, is there any good reading on getting started with short term investing? I've been jumping around sites like...
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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You're looking for their fees associated with the overall IRA as well as with each fund and transaction.
To keep it simple, if it were me, if the Roth IRA isn't with one of those three companies I...
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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If six to twelve months is your time horizon, savings is your answer, not investing.
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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1. Possibly a CD, but plain, old savings (which is what a CD is) is your best route. Some online savings accounts are offering 1.25% or more.
2. 10+ years. Possibly 7+ depending on what you do...
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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Just how much more money do you think you are going to get with $3k over 6 months with zero tolerance for loss? What a total waste of time this thread has become.
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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LOL - Exactly my point! $3k isn't shit. Short of day-trading, nothing will make a little bit of money a lot. Just spend it all and be happy.
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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I suppose its relative though. For a college student, with not many other responsibilities, $3K is still something. Maybe they have the family support (ie tuition/housing, etc) and don't have to help...
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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It sounds like you want to do some day trading. $3k could be worth $30k in a few months with day-trading. There is a lot to be made doing this but of course a lot to lose. The place for day-trading...
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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OP only said he was trying to get 1%+
Just flip an iPad or iPhone for a $30 profit, and call it quits :lol:
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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Actually, some of the people I know have had high GPAs, 3.7+. However, what major you do plays into it a lot. Do something general while getting a good GPA and you're still not going to be making...
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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1.25% at TIAA Direct
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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Bingo! This is just play money for OP. :cool:
Looks like you've helped yourself out plenty and don't need our help after all :lol:
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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Spend the money?
Seriously, what kind of craptastic advice is that?
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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The money I have in savings is outside of my emergency fund, so all it is doing is just sitting there. I've kept it in that savings account for a couple of years, untouched, but it only generates...
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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And how many of those people had high GPAs, were involved in extracurricular activities (other than a frat/sports team), and actively applied to a lot of jobs?
I know plenty of people that...
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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Put in to a CD in India. Currently 9.5% Fixed Rate CD for 1 year. :omg:
(As long as you can ignore the loss due to the exchange rate & depreciation.)
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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In other words, with ZIRP the Fed is essentially coaxing people like the OP here to "gamble" for a greater return then they'd typically get on any savings account, MMA, CD, whatever. We all know the...
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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Investors supply capital to a means of production while accepting the risks of industry/market within a given time frame. The general consensus is: buy low, sell high. The "news" is generally a...
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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I think 6 months to a year (or is that too large of a range?).
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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:popcorn:
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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How soon are you wanting this money back?
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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I just finished my first year in college and was looking to do something productive with the money I earn this summer. My parents helped me start a Roth IRA last year so I will definitely be...
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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I would definitely do what you're planning on and finding out which brokerage your Roth IRA is with. That could make a huge difference in how much money you have at retirement.
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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And there you have it, day trader it is. PM vaultaddict, he's the whale around here and will set you up with mad tight stops on killa trades.
Quite honestly, as the credit bubble continues to...
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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Not at all.
I don't day trade.
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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I'm not going to throw stats at you, but I'll give you the important info.
Day trading is a huge risk. Yes, people make money. How many? Not nearly enough. Most people that day trade lose most of...
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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Thanks for all the replies! There are too many people to quote so I'll just post hoping whoever replied sees this.
I probably should have laid out my financial and educational status a bit better....
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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:lol: Had a bad run recently?
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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:reading: Since we're going the "safest" route possible, avoid wasting 4 yrs and the associated tuition for one of these less useful majors out there which leave you no better than someone who didn't...
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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I day trade and I make tha dolla dolla bills, yo. Actually, check that....I do more hour trading, usually minute trading....cause seriously, who has all day to get rich? I gots no time, the Bentley...
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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Sounds like a reasonable plan.
You could still invest in an index fund, and if it goes down below even in a year, wait it out until it goes up, and take it out when you need to. Or, if it goes up...
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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Check out this very easy to understand and very well written guide to investing.
Your best route will be investing in index funds and ETFs in your Roth IRA at an ultra-low cost brokerage such as...
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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If you want to lose all of your money, there's plenty of advice in this thread to help you with that.
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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REITS, high yield corporate credit, TIPS, commodities (funds or individual plays).
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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I hear you. There's a reason why you (and anyone that has any discretionary income left at this point) is looking to take on more risk and that's because of government interference in the market(s)....
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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I initially said 6-12 months, but read on for new questions!
2 new questions:
Since savings is my answer for a smaller horizon (6-12 months), what are other options than just a savings...
Starting to invest on my own - few questions
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Thread created 06-23-2012 by DinkinFlicka
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Could you please clarify the above. I'm not a finance/econ guy, so having trouble following. :(
Do you mean other assets are worth more because the money isnt put into savings instead?
And...Im...