Ok, so I'm 24 with a wife that doesn't work, and we have two kids. I make about $80k a year between my day job and VA income. I managed to scrape together around $6000 for investing. What are your opinions? Should i figure out day trading or let some white collar dude who went to school for finance do my trading through a mutual fund?
Ok, so I'm 24 with a wife that doesn't work, and we have two kids
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Here's my advice to you read these books. Most of the people here will not be able to give you the facts and outstanding reasoning you will find in this line up of books.
Thank you, I really appreciate your input. Being a father of two and working my ass of doesn't leave me much wiggle room to figure out how to plan for the future, whether it's a week from now or decades from now. Some material to read may set me in the right direction!
Dude, weird that you come here. Unless you're an active investor who understands fundamental and technical analysis well, you should let someone manage your money for now. Until you understand better you don't want to lose your hard earned money. I'm 21 and in my last year of a finance degree, if you have no prior knowledge of investments the learning curve can be steep. For now I recommend mutual funds such as the ones vanguard or Edward Jones provide.
Literally the simplest thing ever.
Either put it in the Vanguard Total Stock Market Index or Vanguard S&P 500 fund, then don't even touch it until you retire.
Tada, investing 101.
24 in a couple of months and still live at home with no gf
I mean fuck having kids but what the fuck, am I really an adult now?
this is the best option
best option in all of the investing world
dont fuck with day trading
buy the lowest fee funds (vanguard) and just keep pumping money into it
an alternative is subscribing to Motley Fool for stock tips or Morningstar and picking their 5-star, wide moat stocks. Large cap shit.
I bought Magellan Midstream Partners and Walmart based on Morningstar 5-star wide moat recommendations and I'm killing (in those two stocks only, the other shit I picked myself sucks ass)
What about Robinhood?
It's 2016 after all, people.
Why don't you make your bitch go to work? Why are you cucking yourself by making yourself work MORE because you managed to get some extra money?
having no aspirations
being bland enough to recommend buy-and-forget etfs
What do you do to make 80k? Why do you have 2 kids already at 24?
on a serious note good luck OP
i dont plan on getting married til im at least 30 with a stable career and spouse who has the same. Also dont plan on having kids
I work for international paper
A good portion of this I already do, I save 20% of all my income (when possible, 10% at minimum always) I've maxed my 401k for what my company will match, etc. However there are some interesting things in there, I need to get my credit cards down a little more.
For her not having a college education, sending sending her back to work would be pointless. She would make minimum wage and it would all go back into child care.
dont buy oil. they just put out all the fires in canada and canadas production had gone down because of the fires . reduced by 25% but by now is going back to normal levels
so inventory held by companies will grow and usage wont expect a flat $40 - $35 a barrel soon
Oil gas been up and down for years now. It use to seem like a sound investment but I've gotten further away from that. At this point I'm pretty much between mutual funds or figuring out the bitcoin craze right now.
are you investing or gambling?
I'm not going to lie to you, on multiple levels it feels like there is no difference. Especially when I really don't have a whole lot of knowledge behind investing
you make 80K at 24 fuck you, why do you have a wife? you should be balling out.
All these books are shit. The stuff prop firms and what not use to invest/trade shits on any of this shit.
Put your 6k in a fund or give it to someone to manage and use it as a college fund for your kids.
having a wife who doesn't even fuckin work
If you have a job you are doing better than me.
having a leech wife with kids
while making 80k at 24
Nigger, you should be fucking bitches and investing your disposable income. How did you get cucked at such a young age?
Put 3/4 of your savings in a vanguard fund and the rest in BTC, cash out at the halvening, and buy up the dip.
What is the difference between getting an index tracker ETF from Vanguard or somewhere or 'trading in indices' directly. Now, I don't think I'm putting it the right way but when I say trading in indices directly I mean when I log into etoro, there is a section on indices, then I can choose for example the S&P 500 and buy x number of shares. What is the difference between this and getting an index tracker account that tracks the S&P 500 with Vanguard or any other company?
The SAHM thing is the biggest scam in the world. Sadly many young guys still fall for it.
Kids are potentially the best investment you can make desu senpai, noones gonna care for a rich old fuck without a family
i'd say pay a buddy to seduce your wife, video tape himself having sex with her and go through divorce, you'd be making much more money.
extra: would give you full custody of the kids if she somehow gets hooked on meth or H.
what are gold diggers you promise to marry and never do for 1000 alex
all financial assets have
been inflated by FED money printing
don't buy stocks or bonds
buy a monster box of American silver eagles
Look into a good BTC trading bot.
I posted too soon, mutual funds are ass. You're better off with bonds or some shady hedge fund in my opinion
They care for your money, not you.