"next to no savings" and "less than 30k" ???
Vested stock units and bought some shares with my own money as well.
It's not that hard if you have the capital and know how to use. The problem is most people don't have the capital
So I should stay at my mom's house until I have 30k saved up, then I can make big bucks?
I'm actually laughing at "under 30k savings" being considered nothing.
I mean that's up to you. The current crisis has certainly accelerated some of investment bankers earnings. It's a perfect storm for being such a vulture.
This. If you get to a certain point it's suprisingly easy to accumulate more capital and i think the availability of partial shares and no brokerage fees have lowered that point immensely.
Good for you, is this really the thread to be bragging about this? Also around 30k in savings is a LOT of savings, many Americans can't even save more than $1000.
no savings = $30,000?
I mean yeah. It's a centuries old wisdom. Truly mindblowing stuff.
Yeah was going to say, depending on your age 30,000 isn't that much depending on the type of savings you're talking about and your current obligations. 30,000 as free capital to invest seems like a lot though.
Yeah. I have about $30k in savings and feel like a fucking millionaire.
It's funny I put that snide remark in the OP thinking the thread would devolve into the 'he doesnt have that much cash' meme scenario that the threads often do, but instead it's the 'era users have vastly different ideas of what rich means' meme scenario 🤔
Yeah, $30k is definitely on the low side for someone who's been working for ten years. Glad you're doing well for yourself now.
lol yeah?
Tom Penny linked some good sources in the stock market OT a few days ago.
Also check this thread.Actual individual stock investing is no joke. Very difficult. The market is kind of high and you can't really time it but this is a pretty good video on index investing. The host asks many question that you might have in general. I might try a little of this before individual stock investing but just know this is long term strategy..vs picking a stock and selling for profit which is difficult to do consistently.
The Simple Path to Wealth | JL Collins | Talks at Google
Author and financial blogger JL Collins brings his refreshingly unique and approachable take on investing to Google.The author of "The Simple Path to Wealth:...www.youtube.com
and the most important long term concept is compounding money..reinvest divs etc for long term. It's really eye opening the difference time and compounding makes
Investing Basics: The Power of Compounding
Compound interest means reinvesting earned interest back into the principal of an investment Although investment returns aren’t guaranteed, compound interest...
www.resetera.com
So you took $30k and just by investing, turned it in to $500k??? That's over a 15x return. You just be the worlds greatest investor or something. Please teach us your ways.
