Current Events > Should everyone be buying stocks?

(+) Yeah! (+)

even people that live paycheck to paycheck?
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f no

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fuck no
learn to grow food....FUCK

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Most people shouldn't be buying stocks. People treating it like a casino.

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You should only buy stocks if you're okay with the potential of never seeing that money again.

Well, maybe not big and well established stocks but anything else, then approach the market that way.

Squall28 posted...

Most people shouldn't be buying stocks. People treating it like a casino.

MachineJaipur posted...

You should only buy stocks if you're okay with the potential of never seeing that money again.

These

Also, stay away from Reddit ffs

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Also, I wouldn't necessarily say that investing a small amount, $100 or less, a month is the worst idea if you can afford it but don't go in throwing your life savings in.

And I'll reiterate, only invest money that you're okay never seeing again

I put in about 3 weeks pay and I'm up about 300 bucks so far. It's addicting tbh.

But yeah after I got a whole whooping dime from the 10k in my savings account for interest, I thought there had to be a better way. So I'm in stocks.

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Not everyone is betting on Penny Stocks and gambling on the stock market like all these WSB morons and the people on this site.

There are stocks and companies you can safely invest your money in. Just don't expect to get rich in a week doing it. Still better then letting it rot in your bank account.

If you are living paycheck to paycheck with no savings, then don't bother.

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Most people should be investing. But individual stocks probably isn't a great idea for the vast majority of people.

If you're literally living paycheck to paycheck with no possible wiggle room then you need to be focused on increasing your income.

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Also this cannot be understated but
MOST PEOPLE should be reducing debt before investing

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The Trent posted...

Also this cannot be understated but
MOST PEOPLE should be reducing debt before investing

Also this. Seen so many people on reddit who are carry credit card debt while having enough in savings to pay it off. Makes zero sense

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Only debt I'm looking at is about 20k between my car and tuition. I only throw $100 a month into stocks, sometimes 200.

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They literally proved that the stock market is exclusively for the elite with that Gamestop thing. You can put money in and get a little bit back, but why pay into the same system that ran crying to the government when the have nots outsmarted them? Remember what happened? They instantly put a stop to it. These wall street CEOs want every piece on the game board and they can literally rewrite the laws to keep things that way.

Its good for people to understand stocks and get in, but focus more on buying in when theres a crash or correction and things are priced reasonably as opposed to chasing hype.

If I know folks arent contributing to their 401ks and can get a company match, I always recommend they do that first though.

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Payzmaykr posted...

They literally proved that the stock market is exclusively for the elite with that Gamestop thing. You can put money in and get a little bit back, but why pay into the same system that ran crying to the government when the have nots outsmarted them? Remember what happened? They instantly put a stop to it. These wall street CEOs want every piece on the game board and they can literally rewrite the laws to keep things that way.

Or you can, you know, do some research and buy companies with a solid business model.

Investing is building up wealth overtime. Compounding really does add up. It's not about betting on black and hoping you win big in a few months or lose your entire "investment."


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Payzmaykr posted...

They literally proved that the stock market is exclusively for the elite with that Gamestop thing.

They literally did not but ok.

Payzmaykr posted...

You can put money in and get a little bit back, but why pay into the same system that ran crying to the government when the have nots outsmarted them?

Who went to the government about it? The Gamestop pump and dump affected a small sub-section of hedge funds and other hedge funds profited immensely off of this.

Payzmaykr posted...

Remember what happened? They instantly put a stop to it.

You mean the clearinghouses increased collateral requirements on Robinhood and other brokerages because they were increasing volatility on a handful of stocks, and Robinhood then went out and had to raise more money in 3 days then they raised in their entire existence to meet the requirements?

Payzmaykr posted...

These wall street CEOs want every piece on the game board and they can literally rewrite the laws to keep things that way.

This is literal word diarrhea from someone with no knowledge of what they're saying. No laws were rewritten. You can invest in index funds and generate very good returns, especially in the last 10 years. Using the Gamestop pump and dump as a reason to not invest is a terrible barometer for how to properly invest in the stock market.

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wow, look how mad youre getting

Payzmaykr posted...

wow, look how mad youre getting

Never invest money pazymayzyker

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Payzmaykr posted...

They literally proved that the stock market is exclusively for the elite with that Gamestop thing. You can put money in and get a little bit back, but why pay into the same system that ran crying to the government when the have nots outsmarted them? Remember what happened? They instantly put a stop to it. These wall street CEOs want every piece on the game board and they can literally rewrite the laws to keep things that way.

Lol

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Everyone should invest. Most investors should stick with low fee mutual funds / ETFs / exchange funds.

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Any debt over 10% interest or so should be paid down before investing (unless you have matching contributions from employer or such, can't really beat instant 100% returns)

Debt around 5-10% depends on what your risk appetite looks like.

Debt less than 5% you're better to invest than pay it off.

Real Estate (buying a home or investment property) can do more for your net worth than stocks depending on your home market. You can leverage way more on a mortgage than you could on margin with a brokerage account.

Other than that, stocks and crypto are where it's at. Savings accounts, CDs, and bonds are a waste to keep your money tied up in. I suppose there's also foreign exchange and commodities futures but you have to do more research and there are more barriers to entry.


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Pitlord_Special posted...

Any debt over 10% interest or so should be paid down before investing (unless you have matching contributions from employer or such, can't really beat instant 100% returns)

Debt around 5-10% depends on what your risk appetite looks like.

Debt less than 5% you're better to invest than pay it off.

Real Estate (buying a home or investment property) can do more for your net worth than stocks depending on your home market. You can leverage way more on a mortgage than you could on margin with a brokerage account.

Other than that, stocks and crypto are where it's at. Savings accounts, CDs, and bonds are a waste to keep your money tied up in. I suppose there's also foreign exchange and commodities futures but you have to do more research and there are more barriers to entry.

You should pay off any interest accruing debt on depreciating assets immediately. Honestly you should just avoid it all together.

If you need to take out a loan to buy a car then you're buying too much car.

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Payzmaykr posted...

They literally proved that the stock market is exclusively for the elite with that Gamestop thing. You can put money in and get a little bit back, but why pay into the same system that ran crying to the government when the have nots outsmarted them? Remember what happened? They instantly put a stop to it. These wall street CEOs want every piece on the game board and they can literally rewrite the laws to keep things that way.

This is basically every ignorant tweet about the Gamestop/Reddit thing

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Solid Snake07 posted...

If you need to take out a loan to buy a car then you're buying too much car.

America is a large country and not everybody lives in the city and/or is able to take public transport.

Sometimes people don't have much in the way of options but to finance a car. Now you can argue that a person shouldn't be financing a brand new car vs a verified good, used car at half or less the price of a new car.

I need a car to get to work but don't have $16,000 sitting in the bank
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KILBOTz posted...

Everyone should invest. Most investors should stick with low fee mutual funds / ETFs / exchange funds.

This. If you invest in the market as a whole is incredibly unlikely youll lose your money long term. I dont see a scenario where the market disappears unless its an apocalypse.

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Beveren_Rabbit posted...

I need a car to get to work but don't have $16,000 sitting in the bank

Buy an $8000 car then.

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Squall28 posted...

Buy an $8000 car then.

Rekt

Only invest in large well established companies i was told and dont expect profits for 10 or more years

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skermac posted...

Only invest in large well established companies i was told and dont expect profits for 10 or more years

You should expect profits every year, but that profit will be bigger every year.

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IF you're investing in the "blue chip" stocks you're probably making a relatively safe investment.

If you were going to YOLO all your money on Gamestop and hold it until it's worthless then no.

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Beveren_Rabbit posted...

I need a car to get to work but don't have $16,000 sitting in the bank

I drove a truck I bought for 2 grand for like 7 years.

I mean, you can do whatever you want. But financing a depreciating asset is never a good idea.

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Solid Snake07 posted...

I drove a truck I bought for 2 grand for like 7 years.

I mean, you can do whatever you want. But financing a depreciating asset is never a good idea.

How much additional maintenance did the truck cost you?

MachineJaipur posted...

How much additional maintenance did the truck cost you?

Probably less than a grand not including regular maintenance/tires/ect.

I don't even really remember anything tbh but I'm sure it broke down on me at some point or another. But it wasn't often and I don't remember any really expensive repairs.

Now that I'm thinking back on it think I actually bought it for like $4500, which I paid for in cash and $4500 was a very substantial amount of money to me back then.

Still, point is a $15,000 car to get around is not a necessity

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Everyone who isn't in high-interest debt should at least be putting in up to their employer's match for retirement if financially possible.

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CloneTheHero posted...

not individual stocks. but you should be buying etf stock or index funds. which are clustered stocks and super safe to invest in.

And low fee. Luckily my employer does non-elective contributions, so I get my 3% match without putting money into my work retirement plan. I put all of my investment money into a Vanguard target retirement fund. I could save slightly more by picking my own index funds, but I'm lazy.

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