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Investing Now

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posted on Mar, 15 2020 @ 01:18 PM
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For the first time I am in a position financially to make some small investments in the market but am not knowledgeable so would like to ask some questions. I understand this is the "internet" and not all advice is true but I need some perspective.

1. Which is the best online trading platform for beginners?
2. If you had a small amount of cash to invest, what would you look to buy?

I am approaching retirement in a few years and am trying to supplement a small 401K. The only debt we have is a house payment. No high interest debt. Have savings to cover 6 months of expenses.

Any advice would be appreciated.




posted on Mar, 15 2020 @ 01:30 PM
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a reply to: TXTriker

I would start a Roth IRA with fidelity investments. any money you put in you don't pay taxes or penalties on that money or on the money it earns when you withdraw it.

What many retirees do is invest in monthly dividend stocks to generate a monthly supplemental income for after they retire. That is especially a good idea now that the stocks have dropped 40-50% in value. I would look at buying a few shares of symbols:
CLM, CRF, OXLC, OXSQ, GGN as they declare their monthly dividend for several months in advance but pay them out monthly.



posted on Mar, 15 2020 @ 01:38 PM
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a reply to: AwakeAndAware

Thank you. I will look into those. What trading platform would you recommend?


edit on 3/15/2020 by TXTriker because: extra ?



posted on Mar, 15 2020 @ 02:13 PM
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I'm just certain it's too late...for a Schwabb account but ebay Silver rounds and bars....not too many and even less Gold in bars or smaller....then it's all about fertilzer and farmland.....

the big sellers on ebay are reliable and paypal protects the buyera reply to: TXTriker



posted on Mar, 15 2020 @ 02:17 PM
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I should have bought some stock in toilet paper companies when the stock market was low last week.



posted on Mar, 15 2020 @ 02:26 PM
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a reply to: rickymouse

One of the ones I'm considering are cruise lines. They are low and will come back because people love them.



posted on Mar, 15 2020 @ 03:59 PM
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originally posted by: TXTriker
a reply to: rickymouse

One of the ones I'm considering are cruise lines. They are low and will come back because people love them.



With what has happened now with Cruise lines and passengers getting quarantined added to the large amount of Norovirus outbreaks that have occurred I feel this lag in cruises will lead to lots less people taking them. I wouldn't want to be stuck on one like these people have been with this virus. I have the FUT 2 genes that protect me from the norovirus, but not for many other viruses. I think that I would stay away from investing in cruise ships. The stock is low now because some big investors dumped their stock, they would ride it out if they thought it was going to bounce back.



posted on Mar, 15 2020 @ 03:59 PM
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a reply to: TXTriker


FIdelity Investments would be the broakerage I would go with. Their info and trades are the closest to real time. If I were you I would open a roth IRA with them. deposit money. Then you can trade thru their website or an app on your phone. I do both.



posted on Mar, 15 2020 @ 04:10 PM
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If you are using small amounts of money you can get Robinhood free version and handle transactions on your phone. I think you can get a paid version with more features. I had planned on looking more into it, but I had to spend all my investment money to survive.



ETA: If you plan on doing stocks, I'd say go with the S&P 500, it will diversify your money out a bit better than picking random stocks, unless you know how the market works..

You can go to www.investopedia.com and set up a practice investing account that starts you with 10k. I've been running it as a stock simulation for the last year with some random picks, its a good tool to learn more about investing.
edit on 3/15/2020 by eXia7 because: (no reason given)



posted on Mar, 15 2020 @ 04:11 PM
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you can kiss that 401k goodbye.

The banking system is crashing. they will not let you take your money out once the whole system crashes. Prepare for a credit freeze.

Buy physical gold and silver. Things you can actually hold.

Physical silver is going to run out in the next 2 weeks to 2 months. When it does, the price is going to sky rocket.



posted on Mar, 15 2020 @ 05:00 PM
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to 3000.00 dollars an ounce


originally posted by: booyakasha
you can kiss that 401k goodbye.

The banking system is crashing. they will not let you take your money out once the whole system crashes. Prepare for a credit freeze.

Buy physical gold and silver. Things you can actually hold.

Physical silver is going to run out in the next 2 weeks to 2 months. When it does, the price is going to sky rocket.



posted on Mar, 15 2020 @ 05:38 PM
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originally posted by: AwakeAndAware
a reply to: TXTriker


FIdelity Investments would be the broakerage I would go with. Their info and trades are the closest to real time. If I were you I would open a roth IRA with them. deposit money. Then you can trade thru their website or an app on your phone. I do both.




I am in my company's stock plan so have a Fidelity account for that. Not sure I qualify for a Roth or what the account requirements are. I will check it out through my existing account. Thank you.



posted on Mar, 15 2020 @ 05:40 PM
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originally posted by: eXia7
If you are using small amounts of money you can get Robinhood free version and handle transactions on your phone. I think you can get a paid version with more features. I had planned on looking more into it, but I had to spend all my investment money to survive.



ETA: If you plan on doing stocks, I'd say go with the S&P 500, it will diversify your money out a bit better than picking random stocks, unless you know how the market works..

You can go to www.investopedia.com and set up a practice investing account that starts you with 10k. I've been running it as a stock simulation for the last year with some random picks, its a good tool to learn more about investing.


I was looking at Robinhood today along with several others that were recommended for beginners. I will check out the investopedia. Thank you.



posted on Mar, 15 2020 @ 05:43 PM
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originally posted by: booyakasha
you can kiss that 401k goodbye.

The banking system is crashing. they will not let you take your money out once the whole system crashes. Prepare for a credit freeze.

Buy physical gold and silver. Things you can actually hold.

Physical silver is going to run out in the next 2 weeks to 2 months. When it does, the price is going to sky rocket.


Well I lost one in 2008 so what's one more! I don't think the banking system is going to crash yet. I think the market will come back but certainly appreciate your input. Thank you.



posted on Mar, 15 2020 @ 05:59 PM
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originally posted by: rickymouse

originally posted by: TXTriker
a reply to: rickymouse

One of the ones I'm considering are cruise lines. They are low and will come back because people love them.



With what has happened now with Cruise lines and passengers getting quarantined added to the large amount of Norovirus outbreaks that have occurred I feel this lag in cruises will lead to lots less people taking them. I wouldn't want to be stuck on one like these people have been with this virus. I have the FUT 2 genes that protect me from the norovirus, but not for many other viruses. I think that I would stay away from investing in cruise ships. The stock is low now because some big investors dumped their stock, they would ride it out if they thought it was going to bounce back.


I know people that are already booking cruises for the fall. People just seem to love them and don't worry too much about the risk. It is not something I would pay to do but I think it will come back. Out of Galveston the ships leaving weren't slowing down until Trump had them stop out bound service. Norovirus has not really slowed it down and I don't think this will either after it is determined that it isn't as bad as the media is hyping. Just my opinion.



posted on Mar, 15 2020 @ 07:32 PM
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a reply to: TXTriker

If I were you I wouldn't touch the market with a 10 foot pole right now.



posted on Mar, 15 2020 @ 07:32 PM
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a reply to: CharlesT

I see what you did there.



posted on Mar, 15 2020 @ 07:37 PM
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originally posted by: eXia7
If you are using small amounts of money you can get Robinhood free version and handle transactions on your phone. I think you can get a paid version with more features. I had planned on looking more into it, but I had to spend all my investment money to survive.



ETA: If you plan on doing stocks, I'd say go with the S&P 500, it will diversify your money out a bit better than picking random stocks, unless you know how the market works..

You can go to www.investopedia.com and set up a practice investing account that starts you with 10k. I've been running it as a stock simulation for the last year with some random picks, its a good tool to learn more about investing.


Robinhood just recently demonstrated they are not capable. I know several people that got seriously burned by RH because of their two full days of system malfunction.

Go with TDAmeritrade. All trades are free and they have the best customer service, educational resources and user-friendly platforms. Plus, they are the least likely to ever have a "system malfunction" preventing you from making trades for two days, and potentially losing everything over a "whoopsy!"



edit on 3/15/2020 by M4ngo because: (no reason given)



posted on Mar, 15 2020 @ 07:41 PM
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a reply to: CharlesT

With the small amount it will be more like a wave than touch.




posted on Mar, 15 2020 @ 07:44 PM
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a reply to: M4ngo

Yes their commercials are very effective. I've thought about them too. I'm not planning on day trading or lots of activity. Just make a small investment now and if extra cash comes along later maybe a little more then. More of a buy and hold for a decent profit. I'm not trying to be become a millionaire and will not invest more than I can afford to lose.



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