Investment BS Thread - Stocks/Futures/Mutual Funds/Bonds/Commodities/Options/ETFs/401ks/Etc

Before I go full lurk mode, I'll ask this:

For the older guys here, if you could go back to when you were in your 20s, what would you tell yourself?

 

Start.

 

Start investing as early as possible into low cost index funds. If you have a 401k with a match AT THE VERY LEAST put the amount you are required to get the maximum company match.

Dont try to pick individual stocks yourself with the majority of your money. Over 90% of professional money managers do not beat the market and they charge you for it!

STAY OUT OF DEBT! Live well below your means.

 

All new cars will be used cars.
Having a car payment sucks. Car repairs on a used ,paid off car is much cheaper than a car payment.

Not many people give a shit about the new, shiny car.

Once I learned that fixing and driving a car was much better, my savings took off.

 

Mods on a Tacoma will gain you nothing.

 

You gotta budget for some entertainment

 

We were asked what we would do different. I can't help it if the truth hurts.

Even though we drive tacomas with a ridiculously high resale, Tacomas will never be an investment that returns a profit.

 

A Tacoma is a deprecating asset but you wont have to replace the asset in three years like you would a dodge.

He right about the mods though. I kinda wish I hadn't wasted money on alot of the stuff on my truck, the only actual useful things I've done to it were a bed mat, a/t tires and husky liners.

 

Thing is you have to have money for fun as well. I’m going to Havana soon, and I guess that’s wasting money to some.

I could’ve bought a sweet bumper, winch, and lights for what this will cost.

 

I don't agree that you are wasting money going to Cuba.

Travel and education are always good investments. No one ever said "I wish I never traveled to (insert location). Lots of people said they regretted never visiting other places.

This kind of falls into my "buy cheap transpo" belief.

With no car payment, you can afford to visit some new places. That $500+/month stone around your neck is gonna make you think about what you can and can't do.

A mile of highway will take you a mile. A mile of runway will take you anywhere.

 

"This time" is never different.

 

Agreed totally on mods.

However I do consider my Tacoma an important financial asset. I plan to keep it as long as it lasts so I don't mind spending a few bucks to keep it maintained and fresh. It saves me the cost of a car payment every month, which gets invested into a short term bond fund. Currently enough in there to buy a brand new Taco tomorrow but my current truck, which I love, still has every bit of 10 more years left it if not much more.

 

Mods on a truck may keep you from the temptation of buying a new truck.. Most mods are less than 2 truck payments anyways.

I guess I'm too young to have a regrettable thing to recommend. I did try penny stocks once, that didn't go too well for me.

 

Loving this thread.

I'm also a Bigger Pockets junkie. Love the B,R,R,R method. Also love the idea of wholesaling because of the quick nature of transactions. But that is definitely down the road

 

Yeah, if a mod keeps you from buying a new truck then its a no-brainer.

I once invested in a penny stock once. I threw $100 at 50,000 shares of ERBB, some sort of marijuana stock. I wonder how many millions that's worth now?

 

I see that Lyft will IPO today at $72 or $20 billion in market cap.

 

given I'm still very positive over all of my stocks, but I wasted probably $1,500 in 2 penny stocks. They rose a lot thought they may keep going didn't sell and didn't check portfolio and boom. suffered. I think biggest thing in those short sell penny stocks are go ahead and make a sell range for when it reaches a certain high and a loss prevention sell.

 

I think penny stocks are purely gambling. Options (betting on price direction) is also gambling, but maybe not as much. Investing is buying and being patient. Just my take on it.

 

Options look cool but I have not dipped my toe in. A co-worker of mine was selecting companies and making a guess if they would meet or fall short of their earnings, then buy $100 worth of puts or calls barely in the money for the earnings release date. The second time he did this, he correctly guessed that Hallmark would miss earnings and his $100 in puts went 20x to $2,000. Then he spent all of that $2,000 in $100 increments trying to replicate that initial success with no joy. He called it quits after that!

 

just make sure to clap when the plane lands. It's a thing.

Also clap in the airport terminal if you see other planes land.

that's my logic actually. I sort of "update" my truck over the years with HID retrofits, LED tail lights, a "modern" grille, matte finish, and honestly unless Toyota starts making trucks as small as my 1st gen again, probably will drive this thing till I'm dead. Lord knows this truck will outlive me.

so I guess no one wants to comment on my spreadsheet showing how you can make *more* money with a 30 year loan?