How much does it take to invest? - Tilted Forum Project Discussion Community

MaxPowers · 08-15-2008, 08:12 AM

I am working on saving my money and want to start investing. I just got out of a bad marriage and am starting from scratch. I am 23. I want to know where to start when I am not investing with $50k+? I would probably be starting with more like $5k. I have a little bit already in a roth IRA in the S&P 500 with Vanguard (sucking), but want to do something else other than an IRA. My bank account has 6% interest for up to $25k, and I will have a little over $30K when I come back from deployment early next year. Where/how should I start? Any advice? Any online reading material?

Baraka_Guru · 08-15-2008, 08:16 AM

There are a few threads around that touch on this, but I will get you started in the reading at least. Do yourself a favour; if you're going to get into stocks, read Benjamin Graham's Intelligent Investor first. One of the most important things you need to do early on is determine whether you're an investor or a speculator. Don't be a speculator. (Hint: There are many who think they're investors when they're really speculators.)

Other than that, clear your bad debts before even thinking about investing, or you're likely just wasting your time and money.

Also realize we're in a cyclical bear. It's a bad time to be in the markets unless you understand value investing and contrarian strategies, in which case you'll have much to do right about now...buying up all of those undervalued stocks.

thingstodo · 08-15-2008, 11:18 AM

Unless you are willing to spend a lot of time getting n the know and then staying in the know, you'd probably be better off with a good financial advisor. We use one at our bank and he has gotten us into some awesome returns on various things. Never been down. They also consider tax ramifications, etc.

MSD · 08-15-2008, 12:07 PM

Six fucking percent? I'd cut back my spending and keep it in the bank if I got that much. That's ahead of inflation. I'm not even sure if CDs at banks around here have that much of a return.

yellowmac · 08-15-2008, 05:15 PM

Yeah, seriously... 6%?! What bank is this, and how can we get the hook-up??

MaxPowers · 08-15-2008, 08:21 PM

United Heritage Credit Union. You have to be a resident or work in Austin Texas. Great bank.

This has been posted before, not taking credit for it.
Bank Deals - Best Rates and Deals Look for "Local High Yield Reward Checking Accounts"
Bank Deals - Best Rates and Deals: 7.01% Reward Checking Account at an IN/KY/IL Credit Union (MidWest America) You might want to check this one out.
I don't understand CDs. They are stupid. Low %.

NoSoup · 08-15-2008, 08:42 PM

Quote:

Originally Posted by MaxPowers

I don't understand CDs. They are stupid. Low %.

My friends parents are still drawing interest on a guaranteed CD they got from a bank back in the 80's - still drawing over 14% interest every year off of it.

08-15-2008, 08:12 AM	#1 (permalink)
MaxPowers Upright	How much does it take to invest? I am working on saving my money and want to start investing. I just got out of a bad marriage and am starting from scratch. I am 23. I want to know where to start when I am not investing with $50k+? I would probably be starting with more like $5k. I have a little bit already in a roth IRA in the S&P 500 with Vanguard (sucking), but want to do something else other than an IRA. My bank account has 6% interest for up to $25k, and I will have a little over $30K when I come back from deployment early next year. Where/how should I start? Any advice? Any online reading material?

08-15-2008, 08:16 AM	#2 (permalink)
Baraka_Guru warrior bodhisattva Super Moderator Location: East-central Canada	There are a few threads around that touch on this, but I will get you started in the reading at least. Do yourself a favour; if you're going to get into stocks, read Benjamin Graham's Intelligent Investor first. One of the most important things you need to do early on is determine whether you're an investor or a speculator. Don't be a speculator. (Hint: There are many who think they're investors when they're really speculators.) Other than that, clear your bad debts before even thinking about investing, or you're likely just wasting your time and money. Also realize we're in a cyclical bear. It's a bad time to be in the markets unless you understand value investing and contrarian strategies, in which case you'll have much to do right about now...buying up all of those undervalued stocks. __________________ Knowing that death is certain and that the time of death is uncertain, what's the most important thing? —Bhikkhuni Pema Chödrön Humankind cannot bear very much reality. —From "Burnt Norton," Four Quartets (1936), T. S. Eliot Last edited by Baraka_Guru; 08-15-2008 at 08:20 AM..

08-15-2008, 11:18 AM	#3 (permalink)
thingstodo A Storm Is Coming Location: The Great White North	Unless you are willing to spend a lot of time getting n the know and then staying in the know, you'd probably be better off with a good financial advisor. We use one at our bank and he has gotten us into some awesome returns on various things. Never been down. They also consider tax ramifications, etc. __________________ If you're wringing your hands you can't roll up your shirt sleeves. Stangers have the best candy.

08-15-2008, 12:07 PM	#4 (permalink)
MSD The sky calls to us ... Super Moderator Location: CT	Six fucking percent? I'd cut back my spending and keep it in the bank if I got that much. That's ahead of inflation. I'm not even sure if CDs at banks around here have that much of a return.

08-15-2008, 05:15 PM	#5 (permalink)
yellowmac Insane Location: left coast	Yeah, seriously... 6%?! What bank is this, and how can we get the hook-up??

08-15-2008, 08:21 PM	#6 (permalink)
MaxPowers Upright	United Heritage Credit Union. You have to be a resident or work in Austin Texas. Great bank. This has been posted before, not taking credit for it. Bank Deals - Best Rates and Deals Look for "Local High Yield Reward Checking Accounts" Bank Deals - Best Rates and Deals: 7.01% Reward Checking Account at an IN/KY/IL Credit Union (MidWest America) You might want to check this one out. I don't understand CDs. They are stupid. Low %.