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I'm doing my own research but I'm wondering if you guys have any winners you currently hold that I should buy.
thanks!
I do.
But anyways, assuming your a young buck like me I reccomend investing in a Roth IRA and compounding over time instead of investing a lump sum. The advantage of the IRA is that when you are around 50 or 60 and want to take out all your money you will not have to pay taxes.
So now when your young you can just start investing like 100-200 every month or every other month and as you get older contribute more and more and with wise investing and compounding your account can grow to millions and when you want to access your money at retirement you will get to keep your millions instead of a meesly 200,000 or so.
It all depends how much you are throwing down. Really if you have debt or anything like that pay that off first. If not, really if you are throwing 1,000 then the market is not really worth it. To make it you need to throw a lot of money in the market. Instead of a brokerage account go with an IRA or Roth IRA. If you are currently working and your company has a 401k then contribute to the 401lk.
Like buying new skis, we need to know.
How old, are you working, do you current have a broker, how much are you willing to spend?
I actually service 401ks, and for anyone under the age of 30, to retire comfy each one of us needs more then 2 million. I urge all of you who are working and can contribute to their companies 401k to do so.
If you looking to get money fast then the market is a horrible place to put money. Yes, I have heard all those people that made a ton on the dot com and day trading. But there are abunch of new laws coming out about day trading.
Being in the 401k world, I have to read reports month about retirement and all the reports I read are saying 2m in retirement savings to live.
Remember when you retire you still have to pay off any debt, any taxes on your home or homes, you need to pay for insurance (health and whatever else). Cost of living, taxes per year, (20% for any distributions you take from a retirment account could be more if you are in a high tax bracket.
Even if you get cobra from where ever you work she still going to pay over 300 a month for health insurance.
This all adds up in the the end.
Well I've decided to create a Stock Simulator profile and put all my money in different companies that all of NS has suggested in this thread (or atleast the ones that sound legit). I'ma leave this for... oooooo, about a year or two and get back to you. Let's see how stock savvy NS truly is.
i have stock in YAHOH, XOM, and BAC
bank of america was a good choice
and yes wu tang financial
