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I was raised in the classic poor dad home. All I ever heard growing up was we cant afford that. Get a job that has good insurance and a pension, etc Therefore, I never learned jack shit about money, markets, finance etc.
Now I feel like I am at kindergarten level. I know where I need to get but dont know where to start
Well I love numbers but I am not experienced in this at all. This is something that is hitting at this age though, in prep for us and our daughter's future. I go to the best teacher I have, for this, my Dad. Thanks for the reminder 6p6. I needed this flame lit under our ass
I love it! I've been playing around with stocks for about a year now, but still learning more and more everyday lol. I have a lot of friends that day trade and swing trade. Some of it's a bit too fast paced for my knowledge base at the moment, but it's super fun learning with a possibility of making great money. Also the possibility of losing great money, so you certainly have to be careful lol.
i just pay a management guy for mine. I have been with the city for 20 years and have enough $ that it behooves me to get as much as I can in my last 10 years before retirement. perhaps I could squeeze a bit more out of my $$ if i did it myself but the management fees are so damn reasonable. .41% of gross interest gained. AND I have made 3-5% more over 20 years over the non-managed portfolio. that is a helluva chunk of change. plus I am not smart enough to manage my own. Ask Trip, he is a genius!
"SHIAT BIOTCH, thats a big ass!"
A clear concience is a sign of a bad memory.
husband of the year
moose riding maple syrup drinking flanel wearing canuck wannabe
I was raised in the classic poor dad home. All I ever heard growing up was we cant afford that. Get a job that has good insurance and a pension, etc Therefore, I never learned jack shit about money, markets, finance etc.
Now I feel like I am at kindergarten level. I know where I need to get but dont know where to start
I love it! I've been playing around with stocks for about a year now, but still learning more and more everyday lol. I have a lot of friends that day trade and swing trade. Some of it's a bit too fast paced for my knowledge base at the moment, but it's super fun learning with a possibility of making great money. Also the possibility of losing great money, so you certainly have to be careful lol.
Ok, could you guys share some of your favorite teachers in this field? I am trying to learn as much as I can. I have to break the pattern of failure in this area of my life and learn a new way.
I need to start with the basics. I just came across this guy, Ramit Sethi, and he is really good. Here are the 3 books that he recommends in this video:
1.The Smartest Investment Book You Will Ever Read
2.The Millionaire Next Door
3.Why Smart People make big money mistakes
For me, all of my learning came from scratch. Strictly trial and error. I had absolutely no idea what I was doing when first started and I still consider myself a newbie. I've developed some friendships over the past year with a few people that trade for fun, so I've learned a little from them. I guess starting off, it depends on what you're wanting to do. Invest long-term, or short-term day trading and swing trading. I keep some of my money in Blue Chip stocks like GE, Walmart, etc... for long term investments. But, the fun part for me is day trading and swing trading.
The best advice I can give someone starting out is to do your due diligence. Research the companies you are wanting to invest in. I made the mistake of jumping in too late on a stock that bounced up and lost a good amount of money several times. I watched a lot of the stock communities like "Stock Twits" and made decisions based on what people were saying. I learned really fast that you can't trust what a lot of people say. You'll see a lot of guys do a pump and dump where they pump up a stock on hype and then dump it making their profits and leaving the late comers with losses. Nothing can replace your due diligence and researching a company.
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