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Still think TITNC3: Return of the Iceberg was peak

Discussion in 'Stocks & Investments' started by kairo, Oct 6, 2020.

  1. Mar 15, 2024 at 9:09 PM
    cartter469

    cartter469 A College kid who went broke for a truck

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    Investing vs Trading(sometimes educated gambling)

    at least thats how I see it
     
  2. Mar 15, 2024 at 9:29 PM
    mark06yoda

    mark06yoda Well-Known Member

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    hey man what do you mean a few automatic deductions each pay?? does that mean you took money every week and put it into a stock? was it like a passive income stock or something or the stock just went up a lot over time?
     
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  3. Mar 15, 2024 at 9:36 PM
    jandrews

    jandrews Hootin' and Hollerin'

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    Regular contributions to retirement and brokerage accounts while living cheap as hell. VTSAX and wait.

    Buffett was right: It works, but no one wants to get rich slowly.
     
  4. Mar 15, 2024 at 10:07 PM
    TreeFortRichard

    TreeFortRichard Barcelona Red is the best red...

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    Yup.
    Friend asked me what I paid/financed on my new truck.
    "I needed money for a new truck so I sold off $30k in my just for fun account...but I had enough long term losses to close out so I didn't owe capital gains.. I'll pay it back to myself in Roth contributions plus I upped my 401k..."

    might as well be speaking latin

    It's funny because I'd consider myself a utility infielder investor. I know the game, I'm not a superstar...but I make more plays than errors.
    To my friends I'm considered exceedingly knowledgeable. I had two this week ask me how should they be investing their 401k. I explained my strategy...why I have certain percentages in which funds...risk..fees...
    "Just write them down for me and how much you do"

    lol

    they're losing $100 a week on shitty parlays
    Could be buying 2 shares of $DKNG (or just $FXAIX $VTI)
     
  5. Mar 15, 2024 at 10:08 PM
    mark06yoda

    mark06yoda Well-Known Member

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    okay but brokerage accounts by that you mean putting a certain amount every week into stocks?
     
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  6. Mar 15, 2024 at 10:09 PM
    mark06yoda

    mark06yoda Well-Known Member

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    man so do you just put money weekly in stocks and just let it sit? what is a 401k aswell
     
  7. Mar 15, 2024 at 10:11 PM
    TreeFortRichard

    TreeFortRichard Barcelona Red is the best red...

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    98tacoma27 and MY50cal like this.
  8. Mar 15, 2024 at 10:15 PM
    TreeFortRichard

    TreeFortRichard Barcelona Red is the best red...

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    401(k)
    https://www.fidelity.com/learning-center/smart-money/what-is-a-401k
    is a pre-tax retirement account set up through your employer. You contribute a percentage of your wages before tax into funds you select. If you wait until 59 1/2 or full retirement, there are no penalties. You pay income tax on the dispersals when you make withdrawals.

    if your employer does not offer a 401(k) you can set up your own retirement.
    You can contribute pre-tax money to a traditional IRA and pay taxes on the dispersals
    Or you can use after tax money to contribute to a Roth IRA those dispersals are tax free
     
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  9. Mar 15, 2024 at 10:20 PM
    kairo

    kairo [OP] >_>

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    I've had "fuck you" walk away money for several years now, and I embody this meme:

    upload_2024-3-15_22-19-49.png
     
  10. Mar 15, 2024 at 10:22 PM
    mark06yoda

    mark06yoda Well-Known Member

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    how did you get rich bro please let me know
     
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  11. Mar 15, 2024 at 10:27 PM
    kairo

    kairo [OP] >_>

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    I had to do it the stupid bullshit way. I got a full time job when I was 16, went to college, worked full time through that, and then went into outside sales. I changed jobs every 2-3 years for more money and all the while put more money into broad index funds than I spent on luxuries.
     
  12. Mar 15, 2024 at 10:28 PM
    MGMDesertTaco

    MGMDesertTaco Come on, live a little...

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    They really should make financial literacy a mandatory graduation requirement.
     
  13. Mar 15, 2024 at 10:29 PM
    kairo

    kairo [OP] >_>

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    They should put it on tik tok! I think that's what the kids use now for most of their knowledge
     
  14. Mar 15, 2024 at 10:46 PM
    mark06yoda

    mark06yoda Well-Known Member

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    cool okay so index fund is like snp 500?
     
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  15. Mar 15, 2024 at 10:49 PM
    kairo

    kairo [OP] >_>

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    Well, this. But you could have also just bought VTI or VTSAX and beaten my returns.

    upload_2024-3-15_22-48-51.png
     
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  16. Mar 15, 2024 at 10:52 PM
    mark06yoda

    mark06yoda Well-Known Member

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    ohhhhhh so those stocks are all a certain % return each year right like an average of 7
     
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  17. Mar 15, 2024 at 10:52 PM
    kairo

    kairo [OP] >_>

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    No.
     
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  18. Mar 15, 2024 at 10:59 PM
    mark06yoda

    mark06yoda Well-Known Member

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    oh so then are those index funds aren’t they a bunch of other stocks put together or something? why buy those?
     
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  19. Mar 15, 2024 at 11:03 PM
    kairo

    kairo [OP] >_>

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    Because the entire system is a scam. But you might as well make use of it. The .gov and the major US corps want the line to go up above all else. Putting your funny money into funds that follow the line going up is useful on a long enough timeline.

    If you want to get rich quick, maybe somebody here will tell you about options.


    I will not be sharing my GME position at this time.
     
  20. Mar 15, 2024 at 11:11 PM
    Canadian Caber

    Canadian Caber R.I.P Layne Staley 67-2002

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    B.C. Canada, eh
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    Also,

    Be like buffet. Live below your means, Drive a shit box, live in a humble house, reuse and or buy used clothing etc, make your own meals 24/7 and invest while knowing how to play the game for the long haul.
     
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