How much money do you guys recommend someone should have saved before getting...

kizzmybutt
kizzmybutt

How much money do you guys recommend someone should have saved before getting into the stock market?

I have $30000 saved up right now. Should i start or wait till i have more?

Playboyize
Playboyize

nah, keep saving

Techpill
Techpill

@Playboyize

How much would you recommend?

Methnerd
Methnerd

That depends. Are you making interest of any kind on that 30k? If I were you personally I'd play around for at least a month with 1k in the stock market and move up as you feel comfortable.

Carnalpleasure
Carnalpleasure

@kizzmybutt

yea that ain't bad, 30k. get to it son. buy low sell high is the only rule

Emberfire
Emberfire

@Methnerd

This isnt a bad idea, I suppose i should start with baby steps. Also its in my savings account at 1.65% interest rate

@Carnalpleasure
How does one get started? Would it be smart to put it into an investment company or should i go on my own?

Supergrass
Supergrass

@kizzmybutt
What is your monthly income?
Pay down your credit card debt, and save up 1-2 months in cash, and then index the rest.

Lord_Tryzalot
Lord_Tryzalot

@Supergrass

I net on average $4000 a month (sometime a bit more but never less)
I have $100 in credit debt from the protein i bought the other week
I own my car and do not finance it
I live at home with my mom rent free
I have no student loans because im a loser who didn't go to colloge

Sir_Gallonhead
Sir_Gallonhead

@kizzmybutt
The common rule is to save the equivalent to at very least, 3 months of your regular expenses. The recomendable is 6 months, but it's up to you. So record how much money do you spend on each basic need (food, rent, transportation, etc), add it, multiply per 3 and that's the absolute minimum you need to save before considering jumping into the stock market.

Oh, no, this is your emergency fund, money that you should put into zero risk investment (like bonds), the amount of money your need to start investing varies depending on your goals and risk. If you don't plan to use the money for a long, long time, then you could pick high risk, high rewards investments and bet on certain stocks, but if you want to use it to buy something in a relatively short time, you should consider stuff with minimal risk, but lower returns.

MPmaster
MPmaster

@kizzmybutt

Really any amount of money is fine to get started. The market takes some practice, so it's good to start small.

Put your big money on stocks trading over 50.

Put your small money on penny stocks and watch them closely.

Spamalot
Spamalot

@Lord_Tryzalot
@Supergrass

Sorry incorrect i net $5000 a month

Flameblow
Flameblow

I'd keep probably 10k cash, max contribution to a Roth IRA, and buy into mixed mutual funds with the rest. Picking individual stocks is fun but getting burned early would suck.

Once you've got a nice sum in less volatile investments and some consideration has been given to long term tax considerations start making some picks. I personally only make picks once a year in Feb-March and only pick long term holds. Everyone has different goals and risk tolerances so just do whatever you're comfy with.

eGremlin
eGremlin

@MPmaster
Really any amount of money is fine to get started
Put your big money on stocks trading over 50
pick one
how many $50 shares are you going to buy, 6? 14?

cum2soon
cum2soon

You can literally and should invest with as low as $200, (open a vanguard account and buy vti, voo).
Use a limit buy, I suggest waking up at 6:30 pacific, watch the tickers, and at 7:00 make a limit for the lowest point in the first 30 minutes.

It sounds a lot more scientific than it is....

RavySnake
RavySnake

@Spamalot
How do you make 5k a month?

RumChicken
RumChicken

@kizzmybutt
just throw it into a mutual fund you chubby nigger

then just speculate with like 5,000 of it if you think you're so smart that you can outperform the pros

then compare the 2 in terms of gains after a couple years and decide what you want to do

Sir_Gallonhead
Sir_Gallonhead

@eGremlin
Quantity of stock doesn't really matter, it's all about the % change and fee's doesn't matter if you bought 200 shares at $10 or 10 shares @ 200 if the shares go up 10% and there is a 7.50 fee per trade.

Evil_kitten
Evil_kitten

@Carnalpleasure
Or you could listen to Buffet and just buy, but please tell me all about your ability to time the market

Gigastrength
Gigastrength

@Sir_Gallonhead
Quantity of stock doesn't really matter
The problem with your example is that it treats the $10 stock and the $200 stock as equals.
You could just as easily say buying 100 shares of Apple is the same as buying 100,000 shares of something worth a dime per share.
Sure, if "the stock goes up 10%", you make the same in both cases. But really, how likely is that?
And if it was, why are so many funds and investors buying two and three digit blue chips instead of penny stocks?

Flameblow
Flameblow

@RavySnake
Not him, but on average I bill each one of my clients between 2-5k a month. After taxes I bring home about 14k.

SniperGod
SniperGod

@kizzmybutt
Put it all into FB before earnings report on the 27th, faggot.

Thank me later.

Ignoramus
Ignoramus

@Gigastrength
The post I was replying to was claiming that you cannot buy expensive stocks if you don't have the money.
My point was that there is no difference between buying 100 stocks and 10 stocks, when you are starting out. The trade cost will be the same
Really any amount of money is fine to get started
Put your big money on stocks trading over 50
pick one
how many $50 shares are you going to buy, 6? 14?
Yea, buy fucking 6 shares if that's all you can afford.

PackManBrainlure
PackManBrainlure

@kizzmybutt

buy monero

SniperGod
SniperGod

@kizzmybutt
30000 is enough if you are good enough to win. You only need 25.

A guy I recommend to train you how to day trade large stocks is Meir Barack. I was in his Tradenet room for 2 weeks and really enjoyed it but then I realized my shitty 2K Suretrader meme account wasn't enough to make money on an 85 dollar stock.

He is really nice but only has about a 60% win rate so, he mainly makes enough just winning on average not because he's some genius hitting moonshot after moonshot.

The customer service is wonderful and you really feel like the crew in there is friendly. Try it its free and they don't hard sell you, I still haven't gotten spam from them but once.

whereismyname
whereismyname

@Ignoramus
The post I was replying to was claiming that you cannot buy expensive stocks if you don't have the money.
That was me, and it's not that you can't, it's that the return will suck if your multiple is 6 or 14 or some shit.
That's why "any amount is fine to get started trading" and "Put your big money on stocks trading over 50" tend to be incompatible.
Yes, the trade costs are the same all else being equal.
But all else is not equal.

Dreamworx
Dreamworx

@kizzmybutt
Kek. Start investing now. It's a way to make money by saving it. That way, you're money is invested in a company you believe in. There are models for how much percent to have saved and how much in stocks. Read a book

Fuzzy_Logic
Fuzzy_Logic

@whereismyname
it's that the return will suck if your multiple is 6 or 14 or some shit.
In what way? 10% is 10% the number of stocks in unrelated.

Firespawn
Firespawn

@Fuzzy_Logic
The point is, buying 6 shares of $50 stock is not equivalent to buying 600 shares of .50 stock in any way other than your initial outlay ($300).
A stable outcome is much more likely in one than the other.
That's why it's not really "the same", and why mutuals and hedges hold Proctor & Gamble, and not Mad Catz.

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