Roth ira
My company was one of only a handful that had a pension plan in addition to a 401K. They shut it down this year because of Covid but I just rolled it all into the 401K. I am very diversified and my portfolio went up 11% this year. Can’t complain.
If any one out there has stomach for risk - reward and you like to trade stocks and etfs consider options on the underlying stock. Ok in your ira. Talk To your broker . They can start you out and approve you with basic strategies . Great way to take advantage of the upcoming Xmas rally / volatility.
Real estate Stocks Crypto currency IUL Anddddd, precious metals
@vsuq What kind of real estate?
anyone here invested in Long term options ? like 3 year options contract?
@chocolatey775 anyone who has a mutual fund probably already are . That vehicle would be described in the funds prospectus
Good time to trade in gold and Fiat. Also look into the cryptocurrencies.
People invest in Fiat?
@pmvines
Fiat money is a government-issued currency that isn't backed by a commodity such as gold. Fiat money gives central banks greater control over the economy because they can control how much money is printed. Most modern paper currencies, such as the U.S. dollar, are fiat currencies
I have a feeling that was a rhetorical question.
@Ukcuddleuk ooh gotcha haha I had actually not heard of that before only fiat I know of is the car, which stands for fix it again Tony 😆
@chocolatey775 I just started trading with options but I picked a one year contract for one real estate company. Has it been worth it for you? I’m mostly concerned about picking the wrong company.
I take that comment back then. I thought it was a joke about investing in cash / treasuries in an era of money printing.
Moving on.
I find it somewhat hilarious when somebody calls their expensive car an investment. That would be a pretty bad investment. That thing is going down in value like a rock.
@Mike403 It is if you know what you are doing. I have a friend of a friend and all he does is buy, hold and sell sports cars. But he knows which ones collectors crave. He is a multi-millionaire from doing that. Of course he paid his dues as a salesman and sales manager at a Porsche/Mercedes dual dealership so he knew what he was doing. I go about once a year and I get to ride and dream. I drove my first Lambo last year. A little too powerful but a lot of fun. Of course I can’t afford one.
On a side note, I did get to do my Russ Hannemann impression of how I need a car where the doors go up and down.
@FunCartel - I guess that makes sense. I drive a 2001 Toyota Camry that I paid cash for. It feels so good not having any car payments.
Lol no @mark I really am that oblivious to the world of investing. When you grow up without food in your fridge and duct tape keeping your shoes together it's hard to even fathom ever being where you are able to have money to save , much less ways to save it . And I'm a social worker so not a lot of disposable income . Most of what I make is spent before I even see it
Thanks for what you do
Same to you @mark love the site !
@Allerdale I don’t buy long term options . I find it risky once bear market comes in . I buy and sell 1 month long option and trade it.
I'm not. I'm currently taking full advantage of the fact I have no solid ties to anything and minimalising the hell out of my life or as I chose to see it I'm investing in enjoying the hell out of my life now and keeping my life insurance covered and up to date for my spawnlings (I'm worth far more as a corpse at this point then I ever will be alive hehehe)
TSLA 🚀
I have 3,651 TY Beanie Babies. 10,000 more and my retirement will be secured.
@Allerdale you can't pick the right company. Nobody can. It can't be done, because all information about the company is already in the price.
For small private investors, options should normally be regarded as lottery tickets. They should not constitute a signficant part of a long term portfolio such as a pension fund. If you want to spend $5 on options, buy five $1 options on five different companies in five different sectors, perhaps even on five different continents although of course then you have to think about the currency risk.
And remember, all companies go bust sooner or later. Which means that in the long run, the more diversified your portfolio, the better it will do.
@CuddleDuncan your pretty much right the average person probably doesn’t know preferred stock from livestock, to give you a bit of an edge there are advisory services you can subscribe to such as Morningstar or Value line . And yes in your ira or pension fund as you call it you can find options useful , to provide additional income with stocks you already own you can write calls , also as a hedge against market downturn you can purchase puts ie married put
VTSAX and chill
Drugs. Heroin or crack cocaine
While the popular opinion on stock options is that it is like playing the lottery, an investor can look at the previous years of the company and all their reports to try to call growth or decline. The stock market has a high learning curve but it is certainly understandable to an extent, since so many have been able to grow their savings with it for decades. The U.S. stock market is more predictable than any other country’s even during COVID.
Growth is not about luck or wealth either, we just have to be smart and diligent with our picks, which is something many don’t understand by wanting fast and high gains. ETFs are a basket of stocks picked by professionals so I have fellow finance nerds who heard before the company was added and they bought calls; did very well of course! I bought a call contract for a business data company I have been following for 2 quarters before it reported its Q4 earnings...definitely made more with that then if I would have just bought the stock itself.
So I’m not scared of picking the wrong company, I should clarify...more that I am aware I have less time to research and may pick the wrong option: call or put. I’m better at determining calls than the latter. It’s all about how much research and patience you’re willing to put in. Options can be long or short term but I love middle-term 🤣
Obviously, in cuddling 😏