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  • I thought about getting into investing and stocks. I just don't know how, what to do, how to do it. It's like a fear of screwing up that also prevents me.
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    Adopted Broncos:
    EmmanuelSanders

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    • Originally posted by InsaneBlaze23 View Post
      I thought about getting into investing and stocks. I just don't know how, what to do, how to do it. It's like a fear of screwing up that also prevents me.
      IB, can you find a fair Advisor, who can build a conservative, but wise long term plan for you? I invest a little on my own, but our Advisor has a solid plan that he applies to most of his clients, that varies in % depending on age/situation. For example, one of my kids has him as well, and because of her age, the variables are a little riskier/potentially profitable than ours. He is also proactive and makes wise changes based on market conditions. No charges for such transactions. I am sure he is not the best, but he has the exact program that makes me and our daughter happy....no extra worrying about what to do, and less worrying than with a riskier Advisor. I even tried to get my other daughter with him, but she already has an Advisor, and her partner is a financial whiz, and I am sure he will give her suggestions if her portfolio is ever suspect.

      But pal, they say that if you have the money to do so, a good plan is better than no plan. There are exceptional times that can diminish almost everyone's portfolio (for a period of time), but it's proven that over the long haul, the markets make money. But stocks and bonds and all the other aspects of investing is not for everyone. A fair/diligent Advisor can build a quality plan for a very reasonable price.

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      • Originally posted by InsaneBlaze23 View Post
        I thought about getting into investing and stocks. I just don't know how, what to do, how to do it. It's like a fear of screwing up that also prevents me.
        Just go for it IB!
        Start with just a very small amount and learn what type of trader you prefer to be first. This may take a little time while you figure the ins and outs of each style, but you will benefit greatly. Many people jump straight into day trading because they hear of these possible massive upswings, but day trading is the most volatile and can be extremely tough mentally- especially for new traders.

        If you plan on investing and holding to see what it does several years later, Can makes a great point about finding a "less risky" advisor. It is very easy to be consumed by your investments and an advisor can alleviate a lot of pressure.

        I prefer swing trades myself, but it takes a while to convince yourself that the sky isn't falling on the red days. When I first started out I scrambled to "save" my investments when they started to dip. This will be the hardest thing you will face, but it's critical to remember red days happen- even to the greatest stocks and companies red days happen.








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        • Originally posted by atwaterandstir View Post

          Just go for it IB!
          Start with just a very small amount and learn what type of trader you prefer to be first. This may take a little time while you figure the ins and outs of each style, but you will benefit greatly. Many people jump straight into day trading because they hear of these possible massive upswings, but day trading is the most volatile and can be extremely tough mentally- especially for new traders.

          If you plan on investing and holding to see what it does several years later, Can makes a great point about finding a "less risky" advisor. It is very easy to be consumed by your investments and an advisor can alleviate a lot of pressure.

          I prefer swing trades myself, but it takes a while to convince yourself that the sky isn't falling on the red days. When I first started out I scrambled to "save" my investments when they started to dip. This will be the hardest thing you will face, but it's critical to remember red days happen- even to the greatest stocks and companies red days happen.

          I agree, it's a nice thing to learn. May take years, but what doesn't? In line with your comments, it is unsettling to lose money, but that should not stop you from investing. Once you accept occasional losses, or in some cases, across the board losses, you will learn that good stocks will do well more than not. And until you sell, it is just paper...you have lost nothing. Timing is a key thing....you can't get too panicky about occasional declines, It happens. And I assume it's the same in The US, but if you have to sell at a loss, you can at least get a capital gains tax break (not sure if that's familiar lingo in The US). But it allows for losses in investments to be partially offset by income tax support.

          An advisor once told me that you should not keep watching good stocks and feel like selling just because of some down days/periods. He said that stocks have maybe 10-20 really good days every year, and if you own them on those days, you will likely make some money. Therefore continued selling off may miss the big days.

          Of course research is wise. In Canada the big banks have been excellent investments, because they have done pretty well over time plus they pay solid dividends. That's also worth reviewing...dividend rates. One of my buddies had a formula in which he would take his annual dividends (many from bank investments) and place them into retirement savings. Another friend's dad made really good money by primarily investing in stocks with solid dividends. But these are longer term investments in solid Buffett type companies (good value). You get dividends by being invested, not selling off before dividend dates.

          Some of us have stocks, bonds and assorted investment types. Why? because over time, and with a steady plan hopefully in value companies and various well established hedge related investments (as in gold, bonds, whatever) your portfolio tends to take bumps better. If Equities are in a mess, the other investments sometimes counter balance. And vice versa. However some folks like Buffett prefer stock. They do ample research, and do not have too much of a diverse plan, given they have confidence in their choices.

          And I've seen studies where if you had just invested in two mutual fund type investments over decades, you would have done as good or better than many diverse portfolios.

          Different strokes.
          Last edited by CanDB; 02-13-2021, 11:42 AM.

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          • Originally posted by CanDB View Post

            IB, can you find a fair Advisor, who can build a conservative, but wise long term plan for you? I invest a little on my own, but our Advisor has a solid plan that he applies to most of his clients, that varies in % depending on age/situation. For example, one of my kids has him as well, and because of her age, the variables are a little riskier/potentially profitable than ours. He is also proactive and makes wise changes based on market conditions. No charges for such transactions. I am sure he is not the best, but he has the exact program that makes me and our daughter happy....no extra worrying about what to do, and less worrying than with a riskier Advisor. I even tried to get my other daughter with him, but she already has an Advisor, and her partner is a financial whiz, and I am sure he will give her suggestions if her portfolio is ever suspect.

            But pal, they say that if you have the money to do so, a good plan is better than no plan. There are exceptional times that can diminish almost everyone's portfolio (for a period of time), but it's proven that over the long haul, the markets make money. But stocks and bonds and all the other aspects of investing is not for everyone. A fair/diligent Advisor can build a quality plan for a very reasonable price.
            Thanks for the tips you too. I'm 29, so I'd imagine that's fairly young to start wondering or fearing investing. Stocks is one of those things where you see so many numbers, so the brain just assumes that's hard, this is hard. I would fail at trying this. I guess outside of an advisor, my questions would be what's safe starting points. Like what app/company to use like etrade, ameritrade, acorns, fidelity, etc. I don't even know whats ok or not ok to talk about when it comes to stocks. Like could anyone get in trouble for saying what's a good stock to invest in for a beginner, things like that.
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            Adopted Broncos:
            EmmanuelSanders

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            • Originally posted by InsaneBlaze23 View Post

              Thanks for the tips you too. I'm 29, so I'd imagine that's fairly young to start wondering or fearing investing. Stocks is one of those things where you see so many numbers, so the brain just assumes that's hard, this is hard. I would fail at trying this. I guess outside of an advisor, my questions would be what's safe starting points. Like what app/company to use like etrade, ameritrade, acorns, fidelity, etc. I don't even know whats ok or not ok to talk about when it comes to stocks. Like could anyone get in trouble for saying what's a good stock to invest in for a beginner, things like that.
              IB.....I am not sure what app to use. I am old but I do have a CIBC online account which allows me to trade very cheaply. But I'm hearing about free trading, maybe in the US only, so that is cheaper than the few dollars I have to spend.

              I would worry about giving a fellow member specific companies to invest in, for fear of the unknown...like a sudden bad announcement that could cause the stock to plummet.

              You are still young, so all is well. Not too late.

              I wish I could help you find an Advisor like I have, whose fees are easily paid for by his performance.

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              • IB- Robinhood has recently come under some scrutiny, but I think they have a great layout and features for newcomers that you may find you like.

                The app is really easy to navigate and has links to different sectors, trends, top movers etc. You can invest in everything from marijuana to crypto on RH.

                ​​​​​I would definitely suggest starting out investing in something you personally enjoy or know a lot about. It makes the studying that comes along with it so much more enjoyable. For me, I would much rather study up on medical advancements in marijuana or sports gambling stocks than I would learning about maybe something like energy or semiconductors.






                ​​​​

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                • Originally posted by InsaneBlaze23 View Post
                  I thought about getting into investing and stocks. I just don't know how, what to do, how to do it. It's like a fear of screwing up that also prevents me.
                  PM me if you ever want to discuss. I'm no expert, but have gained a wealth of knowledge from research, reading, and positive communication. The wife and I have looked over our finances, and have been fortunate to kill all debt outside of our mortgage, while contributing big %'s towards our retirement accounts.

                  Anyone can do it by just starting...

                  The best day to start investing was yesterday, the second best day? Today.

                  Time IN the market will always trump TIMING the market.

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                  • The beatings will continue until morale improves....

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                    • Originally posted by atwaterandstir View Post
                      IB- Robinhood has recently come under some scrutiny, but I think they have a great layout and features for newcomers that you may find you like.

                      The app is really easy to navigate and has links to different sectors, trends, top movers etc. You can invest in everything from marijuana to crypto on RH.

                      ​​​​​I would definitely suggest starting out investing in something you personally enjoy or know a lot about. It makes the studying that comes along with it so much more enjoyable. For me, I would much rather study up on medical advancements in marijuana or sports gambling stocks than I would learning about maybe something like energy or semiconductors.






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                      I would stay away from Robinhood. Fidelity is a respected broker with great customer service. I might start there. They don't accept money for orderflow like Robinhood does. And they've been around for a LONG time. .....
                      The beatings will continue until morale improves....

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                      • Originally posted by dizzolve View Post

                        I would stay away from Robinhood. Fidelity is a respected broker with great customer service. I might start there. They don't accept money for orderflow like Robinhood does. And they've been around for a LONG time. .....
                        Generally I would agree with you, I was really disappointed with Robinhood after the recent issues and I moved my funds like many did. However, I do think the platform is probably as easy as it gets to learn on. For new traders like IB it's definitely a good place to get your feet wet. I'm not familiar with the Fidelity platform, but I will say if it is as easy and user friendly as Robinhood then it's probably the "safer" option.

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                        • Originally posted by atwaterandstir View Post

                          Generally I would agree with you, I was really disappointed with Robinhood after the recent issues and I moved my funds like many did. However, I do think the platform is probably as easy as it gets to learn on. For new traders like IB it's definitely a good place to get your feet wet. I'm not familiar with the Fidelity platform, but I will say if it is as easy and user friendly as Robinhood then it's probably the "safer" option.
                          My wife and I retired 07-2019 and we had our investments through Fidelity via our employment for many years. We both are extremely happy and have done very well with Fidelity even through this pandemic. There was around a 10-12% dip in March 2020 but we didn't freak out and remained cool. Now a year later both accounts have roared back, we both have recouped our losses with worthy gains as of today. I'm sure there are numerous company's a person / couple can certainly achieve excellent results depending on your financial situation. Whenever I engage in conversation with young people I usually end our talk with, "Save money, no matter if it's $50.00 a month or whatever" and don't touch it." Wait on that new I-Phone or snowboard, etc. You'll be very happy you did as you age.
                          Utah Bronco Freak

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                          • Not sure if anyone took my advice about getting in on the cruise lines. If so you have seen your money double or even triple.

                            If you havent yet, there is a bird floating around that says you might want to get in very soon before it goes up significantly in price
                            So far:
                            FA- Melvin Gordon. Brandon Scherff
                            1. Kenneth Murray LB; 2. Shenault WR; 2B. Biadazz Center, 3. OT

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                            • Market corrections - just a blip on the radar. Stay the course...

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                              • Originally posted by Peerless View Post
                                Market corrections - just a blip on the radar. Stay the course...
                                This makes some real sense....given many things have been over valued for some time. I think the markets have been backwards in the last year or more. The future looked awful (this time last year) but many stocks went up after a relatively short decline. Obviously there was a correlation with the tech companies who were making strides during the pandemic (ie. Amazon). But if anything, this is when the marketplace should be seeing some light at the end of the pandemic tunnel. If markets look 6 or more months out, then this should be a better picture.

                                The one thing that keeps messing with certain stocks is the so called "frothy" market, where stocks like Gamestock, Blackberry, and many others, are behaving unnaturally, thanks to the efforts of some to mess with their prices. Makes no sense. Be careful with those types. One day they're up a few hundred %, and the next day they are down the same. For every winner there are likely about the same number of losers.

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