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Wanting to learn about investing

3,372 Views | 23 Replies | Last: 4 yr ago by P.H. Dexippus
DFWag17
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AG
I'm 24 and looking to learn about investing. Right now, I'm just investing in index funds like the S&P 500 as I don't know much in regards to investment strategies. Does anyone have any books or reading materials they can suggest to help learn about the ins and outs of investing and how to pick stocks?
themissinglink
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AG
Right now you are doing fine. Stick to index funds. People make most money mistakes when they get impatient. Books I'd recommend (not necessarily investing, but wealth building).

The Millionaire Next Door
Rich Dad, Poor Dad
The Little Book of Common Sense Investing
permabull
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AG
Betoisafurry
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I recommend r/wsb
nonameag99
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Watch jim cramers mad money every day
Fizban
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There are a lot of people who will try to make investing very complicated. 99% of them are idiots that don't know half what they claim to.

Investing is like a casino in reverse, you might lose some over short periods of time but you will almost inevitably win over a long time period.

Start putting away what you can now. Index funds are great.
Ragoo
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AG
A) set your 401(k) contribution equal to the match
B) open a Roth IRA and set automatic contributions monthly $5500/12
C) if you still have the cash flow after A and B increase 401(k) to maximum limit
D) if you still have cash flow open a taxable account and set monthly contribution equal to an amount you are comfortable with
E) B and D can be set up so that the monthly contribution is automatically invested. Pick index funds S&P 500, Russell 2000, etc
F) don't think about investing other than increasing your contributions over the next 10 years
G) in 10 years once you have a solid retirement base then think about more advanced strategies, maybe to generate monthly income.
Rydyn
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themissinglink said:

Right now you are doing fine. Stick to index funds. People make most money mistakes when they get impatient. Books I'd recommend (not necessarily investing, but wealth building).

The Millionaire Next Door
Rich Dad, Poor Dad
The Little Book of Common Sense Investing
I'd add William Bernstein's The Investor's Manifesto.
lead
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nonameag99 said:

Watch jim cramers mad money every day
Wrighty
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AG
nonameag99 said:

Watch jim cramers mad money every day


If you want to learn what financial porn is, and want to learn how impressive someone can sound about stocks while not actually being better than the market.
HustlerAggie
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Ragoo said:

B) open a Roth IRA and set automatic contributions monthly $5500/12
IRA contribution limit is now $6000 per year. (or $7000 per year if you are 50 or older)
Hustle Harder
Ragoo
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HustlerAggie said:

Ragoo said:

B) open a Roth IRA and set automatic contributions monthly $5500/12
IRA contribution limit is now $6000 per year. (or $7000 per year if you are 50 or older)
awesome!
GE
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AG
Ragoo said:

A) set your 401(k) contribution equal to the match
B) open a Roth IRA and set automatic contributions monthly $5500/12
C) if you still have the cash flow after A and B increase 401(k) to maximum limit
D) if you still have cash flow open a taxable account and set monthly contribution equal to an amount you are comfortable with
E) B and D can be set up so that the monthly contribution is automatically invested. Pick index funds S&P 500, Russell 2000, etc
F) don't think about investing other than increasing your contributions over the next 10 years
G) in 10 years once you have a solid retirement base then think about more advanced strategies, maybe to generate monthly income.
I would add to this consider getting a high deductible health plan and fully investing in HSA. It is the most tax advantaged savings account of which I am aware.

Also if your employer offers it you can max out both Roth 401k contributions also additional after tax contributions that can either be rolled over to roth within the plan or just treated as additional traditional 401k
Kenneth_2003
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AG
Defiantely max out your HSA if you have access to one.

There are some minimums that vary by plan but that money is fully yours and invest-able. Tax free going in and tax free going out. Let that money ride as long as ever possible and continue to pay medical bills out of pocket.

1) I've read a poster on here say any qualifying expense can be reimbursed at any time. So save your receipts and reimburse yourself (years) later.

2) Even if you don't do #1 above, you'll have plenty of medical bills in later life you'll be glad you've got that money set aside for.
HustlerAggie
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Agree with HSA maxing out.

HSAs are like the best of a Roth and Traditional IRA combined into one. It lowers your tax bill on the front side and growth/withdrawals are tax free if spent on medical expenses. (or you can withdraw for anything after 65 but you have to pay taxes on gains like a Traditional IRA)
Hustle Harder
aggiebq03+
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Just remember any time you see a drop, and it will drop, you are buying on sale whatever index you have available in your 401k. Just put it on autopilot and ignore it for 10 years. Then decide to move a portion in to bonds if you want. I can promise you'll be happy you did this.
permabull
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AG
GE
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AG
hypeiv said:

My HSA now allows me to upload receipts for eligible expenses but keep the money in the account. So I no longer have to keep the binder of receipts anymore, they keep track of how much I can withdraw tax free if needed.
Nice. Who is yours with?
Ragoo
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AG
hypeiv said:

My HSA now allows me to upload receipts for eligible expenses but keep the money in the account. So I no longer have to keep the binder of receipts anymore, they keep track of how much I can withdraw tax free if needed.
this is pretty badass
Ulrich
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I recommend starting another thread asking financial advisors a simple but specific question. You won't make any money, but you'll get to watch them slapfight for three pages.
permabull
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AG
DJV2012
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I strongly recommend reading "The Most Important Thing" by Howard Marks. It will help you begin to learn how to think like an investor and weigh risk vs reward.

From there, you can begin to read books which outline different investment strategies.

Good luck!
GE
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AG
Ragoo said:

hypeiv said:

My HSA now allows me to upload receipts for eligible expenses but keep the money in the account. So I no longer have to keep the binder of receipts anymore, they keep track of how much I can withdraw tax free if needed.
this is pretty badass
I just checked and mine through BofA has this same option. Had no idea until I saw this posted.
Ragoo
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AG
Mine is mercermarketplace or something similar. I will have to look.
P.H. Dexippus
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I just requested and recurved 12 years of worth of EOB statements from BCBSTX. I had no idea how many thousand$ in receipts I was missing until I got these in. An upload feature would've been nice.
"[When I was a kid,] I wanted to be a pirate. Thank God no one took me seriously and scheduled me for eye removal and peg leg surgery."- Bill Maher
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