Beer! You need beer - and a joint. Maybe a B&B. Come for the sausages, stay for the weed.
I’ll have a grand or two to play with in a couple days. How would you suggest I start?
17 Likes
I’m opposed to artificial speculative markets on principle. Selling drugs is way more ethical than playing the stock/crypto markets.
11 Likes
Always been interested in stocks and such but have become so cautious in the last 5-10 years I can never bring myself to buy anything other than the Wal-mart stocks I’ve had for 15 years. Definitely showed me how lucrative it can be I’m just so far from a “GAMBLER” it’s ridiculous. Here for any and all info
3 Likes
Well said , trust me I feel you.
1 Like
If you changed “selling drugs” to “selling products” you’d sound like my father who thought the stock market was more like a scheme that makes nothing. Well, I say yes and no. If you’re just buying and selling, that’s a “Yes” because you’re just trying to make money off somebody else on no basis. But if you’re buying and holding, that’s a “No” because you’re supporting a company to succeed. For me i buy stock in companies that are doing good things like supporting the health care and alternative energy or housing businesses and at my age, that’s the only way I’m making any money. I sold pot only to survive for a few years. But i don’t like selling for philosophical reasons. Since my dividends now pay the way, I don’t need or want to sell pot, but I give small amounts away to anyone who needs or asks. That’s my take.
2 Likes
Selling products is more ethical than fictitious capital. And don’t even get me started on real estate speculation and the rentier economy. I’ll start sounding more like Mao than I do Bernie.
3 Likes
The gambling known as business looks down its nose at the business known as gambling.
8 Likes
I would honestly say if you keep your money in cash/usd then that is gambling!! They are making your dollars worth less by printing more and more.
If you aren’t making 7-8% gains on your money, then you are losing purchasing power.
95% of crypto is scams trying to take your money. If you find the good 5%, then it’s very lucrative.
4 Likes
Might make one cross-eyed.
1 Like
It also requires you to learn/research. If you just yolo into doge/shibacoin because it’s popular, then you’re gambling.
If you learn about bitcoin and what purpose it serves and how it works, that is not gambling. That is putting your money into a worthwhile project hoping it succeeds.
3 Likes
I agree on requiring research on ANY investment from pot to bit coin to stocks. I don’t understand bit coin, how to get it, what backs it up, etc. Pot is gambling. I have an understanding of the stock market and research stocks. So far, so good.
For the majority of people stock market and other forms of gambling isn’t recommended.
Better investments can be made around the house and property to increase value and reduce monthly bills, save for retirement, fix car, remodel that very old bathroom, install solar panels, get that big tree cut down, etc…If I had money to burn I’d buy property and let a rental company handle it before I put a single dollar into stocks.
You’re more likely to win at the casino than trying to play day-trader or crypto investor.
4 Likes
The condo I live in was purchased for a song because the previous owners got a bad tenant. They stopped paying rent, electricity, everything.
They had to get a second mortgage to accommodate the scofflaw (who actually did end up getting arrested) which still wasn’t enough. They were desperate to sell and sold at a desperate price.
So even that is still dangerous.
Best piece of financial advice I have is stop buying crap. Prime-nesia isn’t funny, it’s a sickness.
6 Likes
That’s where the rental company comes in. I ain’t tryna actually “be” a landlord, just a dividend thereof.
You’re 100% right though…crap you simply don’t need is a massive drain on most folks’ finances. Lifestyle inflation is tough to avoid. It’s not always the purchases, it’s so often the upkeep. Frivolous nonsense.
4 Likes
Rental rules vary from place to place but here tenants hold all the cards.
A management company might save you day to day headaches but a bad tenant will still hit you in the wallet.
I did the math and Mrs Foreigner has spent a dollar a day on vacuum cleaners in the past five years which sounds completely insane to me.
But I’m basically an ascetic so I’m on the other end of that spectrum
4 Likes
I heard on the radio recently that said some of the smartest things you could spent money on if your wealthy are things like housekeepers,gardeners, things that save you time…
But they way I see it is in not a lazy person I can tidy my own house and I take pride in making my yard look nice.
It really seemed like that was just trying to separate people from their money
4 Likes
The rich are different. Once you reach a certain income threshold “what is my time worth” becomes pretty normal and menial jobs get outsourced, toll highways get used to save time, etc.
Of course, I love tending my own garden and would happily mow my own lawn if I had one.
7 Likes
Start by doing research and checking out yourself. Are you patient or tend to er, well, sort of panic. In the market patience pays and panic kills.
Next do some research or I should say, research where to get GOOD research. The bad stuff is everywhere. Maybe get a book on the subject. Peter Lynch was a very successful investor, willing to give good advice.
Next get an online broker. I suggest Fidelity because you can open an account with no money and they don’t charge to buy and sell stocks, plus they probably have good info.
Next: Paper trade. That is, pretend to buy a stock. Write it down with date, how many you bought at what price. Check on it day to day and see how you’re doing. Do this with a few stocks. IF and when you feel comfortable with your “paper trades” then you might put in some cash to your account and actually buy a “FEW” stocks. Take it easy for the first year cuz if you lose, you’re gonna feel rotten, stupid, never gonna do this again, etc. But if you win you’re likely to go crazy and then lose.
Resources: For terms “Investopedia”
For solid good, but basic information: Yahoo Finance
Stock sayings: “The trend is your friend” This refers to charts (Learn charts!) If a longer trend on a chart is down, beware. If it’s up better. Spikes don’t count.
“Don’t go catching falling knives.” Don’t fall for falling stocks. They’ll bleed you.
Remember: The stock market is a lot like playing poker. Emotions play at least a big part as the numbers. Most traders lose over the long run. Like poker, finding good cards and playing them right you win. Playing good or bad cards wrong you’re likely to lose. There are “safer” and “riskier” ways to do the market. Take your time making decisions.
Good luck!
6 Likes