Open a vanguard account and buy whole market mutual funds. Think of it as a long term savings account. Only put money in that you will not need for at least a year. Better if it's money you won't need for 5 years.
Vanguard has a feature to automatically pull money from your bank and throw it in any mutual funds you specify. Set up that auto deposit once a month. Choose a random day in the middle of the month (prices go up a little bit at the beginning of the month because of everyone else doing auto buys).
Once you set up that auto buy, don't touch it. In fact don't look at it. Only check it on your birthday for a pleasant little surprise and a nice little gift for yourself. Then close the browser and don't look at it again until next year.
I managed to set aside $145,000 over 9 years doing this. All while living a completely normal life. All I did was direct deposit some money and treat it as a savings account.
Remember that time in the market beats timing the market. The time to buy is "consistently over a long period of time". Not "when the market crashes".
If you have to drive from New York to California (retirement), you can either drive 60 miles per hour for a long time, or try to drive 400 miles per hour for a short time. You are more likely to crash and die driving at 400 miles per hour than 60 miles per hour.
I wouldn't. Because all these idiots buying toilet paper now aren't going to be buying more for the next year. The number of asses that need to be wiped per day hasn't fundamentally changed. Any spike in production now will be at the cost of production tomorrow.
Yoiu want things that will grow over many years and TP will not. I mean if you are a day trader it could have been worth it a week ago (maybe) but the increased demand is irrational.
Electric cars are a lot easier to manufacture than combustion engine vehicles. Panasonic did pull out, but they announced their US battery plant turned a profit which was huge news. Honda and Toyota are about 6 years behind Tesla on electric vehicles as a huge portion of their spending goes towards making combustion engines. Toyota (largest car producer) can produce about 12mil cars a year, and Tesla is estimating that they can product around 20mil when scaled because battery powered cars are just simply quicker to manufacture.
General Motors and Ford have only just started playing the game. Everyone is acting like Tesla is the only one who thought of electric cars. The big boys have been playing with the idea for years, but electric cars just aren't economically viable due to battery limitations.
Batteries are getting better. There will be a tipping point when batteries are "good" and electric cars are economically viable. General Motors and Ford haven't been sitting around with their thumbs up their asses. They can flip a switch and flood the country with electric cars when the time is right.
The entire Volt car line from GM was a "lol, let's see what happens" experiment. And I don't know about you, but I saw 50 Volts for every 1 Tesla on the road.
The problem with the legacy companies' electric cars is that they're designed for the "hey everyone look at me I'm driving an electric car" douchebag crowd. I suspect that Tesla is tapping into a market for enviro-Nazis that don't want to drive these little pieces of shit.
I'm not a car guy, most other Americans aren't either - I don't really give a shit if the thing that gets me from point A to point B is electric or gas. They want something practical that looks nice at a competitive price, not some dinky hunk of plastic that looks like hell.
Also, the infrastructure really isn't there yet. You are right, Ford and Chevy are just biding their time.
The bigger car companies can’t pivot as easily and they sink a huge portion of their spending into manufacturing combustion engines, this includes supply lines and facilities. If they were to go all in to compete with Tesla they’d have to scrap their entire operation from the ground up and eat upwards of $250billion in losses due to dropping combustion engines. They simply don’t have the capital or the ability to start an entire new type of vehicle production.
If they were to go all in to compete with Tesla they’d have to scrap their entire operation from the ground up
This was an insightful observation in 2005. Of course you're right that the entrenched automotives can't spin on a dime. Which is why they didn't. Which is why they've been doing their slow lumbering march towards electric cars over the past 10 years. Tesla blew their surprise attack window. The company was founded in 2003, 17 years ago. GM, Ford, Mercedes-Benz, BMW, Nissan, Honda, and Toyota aren't standing around with their dicks in their hands.
never trust elon musk. hes not tony stark as people want to believe. hes not some amazing super genius, he was in the right place at the right time for paypal and got rich. he often lies about crazy shit like the hyperloop and commercial passenger rockets.
Plan on dropping about a couple grand in Tesla Monday morning around 8:30am, feeling like that will be the deepest dip. Thoughts?
Wish I knew anything about doing this. Would it be worth putting a few hundred in or is it only worth your time if your playing with thousands?
Open a vanguard account and buy whole market mutual funds. Think of it as a long term savings account. Only put money in that you will not need for at least a year. Better if it's money you won't need for 5 years.
Vanguard has a feature to automatically pull money from your bank and throw it in any mutual funds you specify. Set up that auto deposit once a month. Choose a random day in the middle of the month (prices go up a little bit at the beginning of the month because of everyone else doing auto buys).
Once you set up that auto buy, don't touch it. In fact don't look at it. Only check it on your birthday for a pleasant little surprise and a nice little gift for yourself. Then close the browser and don't look at it again until next year.
I managed to set aside $145,000 over 9 years doing this. All while living a completely normal life. All I did was direct deposit some money and treat it as a savings account.
Remember that time in the market beats timing the market. The time to buy is "consistently over a long period of time". Not "when the market crashes".
If you have to drive from New York to California (retirement), you can either drive 60 miles per hour for a long time, or try to drive 400 miles per hour for a short time. You are more likely to crash and die driving at 400 miles per hour than 60 miles per hour.
Will look into this, thanks for the reply
I'm recommending buying ETFs with low commission in >2 industries for 80% portfolio, and 10+ stocks with none being more than 5% of portfolio.
How's that for getting lots of picks while spreading risk?
Also doing DRIP
Both companies are woke. Disney can get away with that shit but flying suffers no fools. Diversity hires caused their recent fuckups.
Invest in toilet paper companies?
I wouldn't. Because all these idiots buying toilet paper now aren't going to be buying more for the next year. The number of asses that need to be wiped per day hasn't fundamentally changed. Any spike in production now will be at the cost of production tomorrow.
You know your shit....
Dude don't listen to him, he just talks shit
visa and mastercard are looking good too
Yoiu want things that will grow over many years and TP will not. I mean if you are a day trader it could have been worth it a week ago (maybe) but the increased demand is irrational.
Pre-market is already up halfway but if we are lucky that was the bottom.
My guess is that next week will be the real bloodbath.
If you look at all stock market crashes, there's always been a bump on a Friday before the bottom falls out on Monday or Tuesday.
It wasn't the bottom. We're still only up to our knees with this covid-19 shit. We'll be over the hump in April.
They just launched their model Y way ahead of schedule, what makes you think their stock will tank?
Electric cars are a lot easier to manufacture than combustion engine vehicles. Panasonic did pull out, but they announced their US battery plant turned a profit which was huge news. Honda and Toyota are about 6 years behind Tesla on electric vehicles as a huge portion of their spending goes towards making combustion engines. Toyota (largest car producer) can produce about 12mil cars a year, and Tesla is estimating that they can product around 20mil when scaled because battery powered cars are just simply quicker to manufacture.
General Motors and Ford have only just started playing the game. Everyone is acting like Tesla is the only one who thought of electric cars. The big boys have been playing with the idea for years, but electric cars just aren't economically viable due to battery limitations.
Batteries are getting better. There will be a tipping point when batteries are "good" and electric cars are economically viable. General Motors and Ford haven't been sitting around with their thumbs up their asses. They can flip a switch and flood the country with electric cars when the time is right.
The entire Volt car line from GM was a "lol, let's see what happens" experiment. And I don't know about you, but I saw 50 Volts for every 1 Tesla on the road.
The problem with the legacy companies' electric cars is that they're designed for the "hey everyone look at me I'm driving an electric car" douchebag crowd. I suspect that Tesla is tapping into a market for enviro-Nazis that don't want to drive these little pieces of shit.
I'm not a car guy, most other Americans aren't either - I don't really give a shit if the thing that gets me from point A to point B is electric or gas. They want something practical that looks nice at a competitive price, not some dinky hunk of plastic that looks like hell.
Also, the infrastructure really isn't there yet. You are right, Ford and Chevy are just biding their time.
The bigger car companies can’t pivot as easily and they sink a huge portion of their spending into manufacturing combustion engines, this includes supply lines and facilities. If they were to go all in to compete with Tesla they’d have to scrap their entire operation from the ground up and eat upwards of $250billion in losses due to dropping combustion engines. They simply don’t have the capital or the ability to start an entire new type of vehicle production.
This was an insightful observation in 2005. Of course you're right that the entrenched automotives can't spin on a dime. Which is why they didn't. Which is why they've been doing their slow lumbering march towards electric cars over the past 10 years. Tesla blew their surprise attack window. The company was founded in 2003, 17 years ago. GM, Ford, Mercedes-Benz, BMW, Nissan, Honda, and Toyota aren't standing around with their dicks in their hands.
I don’t think it will- but to be honest I am new at this and can always use a second opinion :) thanks!
never trust elon musk. hes not tony stark as people want to believe. hes not some amazing super genius, he was in the right place at the right time for paypal and got rich. he often lies about crazy shit like the hyperloop and commercial passenger rockets.