Home     Forum     401k     401k Rollovers
    Register   Login   Members   Search   FAQs     Recent Posts    




Need a second oppinion

Reply to topic
Money Talk > Personal Finance

Author Thread
MacMac
First Time Poster


Cash: $ 0.25

Posts: 1
Joined: 22 Aug 2016
Location: Oregon
Need a second oppinion  Reply with quote  

I am 20 years old and am trying to start my life off right, I make 29,688 a year so I feel that I have a little bit of money to work with right now, I am very interested in the stock market, real-estate, and other avenues for long term money making. The company that I work for offers stocks at an employee discount generally averaging 85(+-) a share before the discount and have a steady incline for dividend offerings, the last two have been at $.5 a share. I'm a bit weary to jump into the stock market though as there are lots of projections for a potential crash in the near future, my other interest was real-estate and getting into some property management. my qualm there is that property investment is going to require a lot of consulting to people who know more about it in the beginning. I am ambitious and from my calculations I can afford more risk. One thing that I am looking at is I have always found that when I am "showing" someone something I tend to do it better myself so one idea I am throwing around is starting a blog with my financial endeavors where I could log my incomes outcomes and general findings about working out a profit in life. I am also starting this journey with out a "kick start" of any kind. my job and current financial standings are outcomes of my own doing. my worry about the blog is if it could be used by someone to take advantage of me, I would be careful with what I posted but has anyone heard of that kind of thing being the source of info for someone who has malicious intents?
Post Mon Aug 22, 2016 5:17 pm
 View user's profile Send private message
oldguy
Senior Member


Cash: $ 719.60

Posts: 3500
Joined: 21 May 2006
Location: arizona
 Reply with quote  

quote:
one idea I am throwing around is starting a blog with my financial endeavors where I could log my incomes outcomes and general findings about working out a profit in life. malicious intents?


I haven't seen any problems of that kind, its an anonymous board, as long a you avoid account numbers, passwords, specific addresses, your ideas and concepts won't be identifiable.

quote:
my other interest was real-estate and getting into some property management. my qualm there is that property investment


A good way to learn RE & PM is to get your State RE License - in my state it was about 6 weeks of night classes - and then taking a one-day state test at a central location. For about $750 you could have a RE license in about 10 weeks. Plus you get a bunch of local knowledge from the classes, the instructor is usually a local broker who has many war stories.

quote:
I'm a bit weary to jump into the stock market though as there are lots of projections for a potential crash in the near future,


LOL, yeah, I've been hearing that for over 50 years. The prognosticators are usually selling gold. So they use fear-mongering as a marketing tool. Often they point out that today's market is at an all-time high so it HAS to go lower - lol, it's not a balloon, the price has nothing to do with the past.
Think longterm - the market always goes up, how else could it have gotten from Dow1000 in 1980 to Dow 18000 today? The general market index goes up at about 11%/y. And the wealthiest investors simply ride that, ie no up/down trading - simply buy and continually add - it turns out that you can become quite wealthy with that method. You have the diversification of all stocks, you have very low fees becasue the index funds are unmanaged - and 11% is a good return.
Example - if you invest $500/m into the 11%/y fund for 30 ys, you'll have $1,300,000 at age 50 - and almost $4M at age 60. (If you want more or less, just change the $500/m accordingly)

You're off to a great start, most 20-yr-olds do not give wealth-building a thought - but the big part of wealth-building is "time", its way harder to become a multi-millionaire if you wait until 35 or 40 to start.
Post Mon Aug 22, 2016 6:55 pm
 View user's profile Send private message

Reply to topic
Forum Jump:
Jump to:  
  Display posts from previous:      





Money Talk © 2003-2016