Finances, Stock Market, Money Market, Mutual Funds, Investments, Savings, etc.

[baymule]

This is a good thread. Thanks for starting it.
You can buy stocks through Computershare.com There are no brokerage fees or commissions. Pick a solid stock that pays dividends and park your money there. D.R.I.P. stocks build up. Dividend Re-Investment Program. The dividends go into your account, quarterly the dividends purchase stock and grow your stocks.

 

[baymule]

I don't play in the stock market. (Period). The reason is simple... I don't like money, it creates way to many problems, 1 Timothy 6:10.

Jesus is Lord and Christ 🙏❤️🇺🇸

Don’t knock wealth. Sure, many wealthy people are not that concerned about others, but it’s what you do with it that counts. Money, used wisely, is a good thing. It takes money for practically everything so giving to churches and charities helps others less fortunate.
Don’t forget, a wealthy man gave his very own new tomb for the body of Jesus.

 

[flowerbug]

Don’t knock wealth. Sure, many wealthy people are not that concerned about others, but it’s what you do with it that counts. Money, used wisely, is a good thing. It takes money for practically everything so giving to churches and charities helps others less fortunate.
Don’t forget, a wealthy man gave his very own new tomb for the body of Jesus.

i'm not sure how a person could save up for retirement or buying a house or a car without some basic idea of savings and investing?

 

[flowerbug]

what about cryptocurrency...anyone dug into it? I have no idea/clue about how it works, if I should start investing or what the long-term probability is. I am so uneducated when it comes to financial investments

i do understand them, but i won't get into them. ethically i do not want to put my money into something that uses a lot of electricity to generate and maintain. also it may not recoverable in case it gets stolen or lost. i don't consider them mature enough or secure enough so that even adds more to the "too risky for me" part of the evaluation.

when i pay for something with cash there's nobody taking a cut of the transaction to enable it (there are often taxes but that's a different issue ) and i don't have to have access to any device to be able to do it. credit cards and checks can involve some fees but that's different because you're not usually paying a conversion fee for going between different currencies.

 

[FarmerJamie]

what about cryptocurrency...anyone dug into it? I have no idea/clue about how it works, if I should start investing or what the long-term probability is. I am so uneducated when it comes to financial investments

The wife played in crypto in 2020/2021 with a some fun money and turned out a nice little profit.

She exited her position after some shenanigans by some brokerages pumping and dumping, as well as dragging out fund transfers on personal accounts.

We don't view crypto as a long term solution right now. New players are entering the playing field with their own "coin". Fun trading these if you like the day trader mentality and rapid up and downs. *I* don't enjoy it. 😀

The Feds are taking it seriously enough to enact special tax rules. Lol.

 

[FarmerJamie]

i do understand them, but i won't get into them. ethically i do not want to put my money into something that uses a lot of electricity to generate and maintain. also it may not recoverable in case it gets stolen or lost. i don't consider them mature enough or secure enough so that even adds more to the "too risky for me" part of the evaluation.

when i pay for something with cash there's nobody taking a cut of the transaction to enable it (there are often taxes but that's a different issue ) and i don't have to have access to any device to be able to do it. credit cards and checks can involve some fees but that's different because you're not usually paying a conversion fee for going between different currencies.

Device to do it? Are you specifically talking about "mining"? To trade, you can do over your phone, like any other stock/security. Easy peasy to trade

 

[FarmerJamie]

yes, the creation aka mining does require a lot of energy. we don't have a smartphone and don't want one. i have no desire to ever get into them. you didn't see my comment about currency conversion fees or my other objections.

i'm not a day trader. i don't want to be tied to the market like that and automated things don't always work out well. i've seen so many times when people who set stops get knocked out of a position by a market change and then the very next day the market reverses again and so they've missed out and have to figure out how to get back in and where. to me that's just a mess. i don't care to play games like that.

what i do is watch certain companies and learn about them and figure out what range i might want to buy in at and then in time it usually happens that the news or some event might move the stock into that range. often what has happened then after that is that the stock has bounced back up and given me a cushion of gains (and also dividends). held on for a number of years and if the company is solid enough they keep increasing the dividends and that may eventually even pay for the initial investment plus pay a large % dividend of my original buy in - a day trader won't ever see that.

Whatever device you are using to post here can be used to trade.

I am not talking about options trading, just simple buying and selling of stocks.

I saw your objections and chose not to respond to them 😀 but, I will make one response

The paying of conversion fees (if applicable) are factored into the decision making process. Also, there's the opportunity cost of your own personal time to consider.

Day trading is a special breed. I view it (at a high level) as the same as pouring over multiple weekly store sales ads waiting to pounce on a deal. Day traders have different goals than long term investors. Different strokes for different folks.

 

[Medicine Woman]

I use both long and short term investments. I haven’t exactly been thinking much about individual investments lately so I just been investing in mutual funds

 

[Medicine Woman]

I have two stocks in particular I have been looking at. Amazon and PayPal. For personal reasons I regret buying them but money is money sometimes. But I am currently in a slight red with both of them. As soon as the scale starts to tip me in the other direction I will sell and add onto my lands a bit because I really want to go back home. And I might as well square off my property. I don’t know that I’m going to be able to make big investments in the future. I probably will just act like my grandparents who went through the depression if I am not satisfied with my wealth.

 

[flowerbug]

I don't expect to have much to add to this thread but I am following. DH handles our investments and I don't like feeling stupid about investment options.

do you know where things are at if something happens to him?