Here's some more advanced, slightly politically cynical advice.
If you're planning to just plop money into an index fund, hold your cash for now because you've missed the train.
Look at the SPX, DJIA and NASDAQ performance during the past 3 years and notice the pattern.
Every year, there's a "major" politically-driven economic scandal which tanks the market and then after a few months, things claw to a new all-time high. The (1) threat and (2) then follow-through of the Chinese tariffs with a little bit of chaos after the election of the Squad and their Green New Deal, then (3) COVID.
After we win, the Dems even as a minority party will cook something up and you'll get another chance to invest come mid-2021.
In the meantime, there's a ton of other stuff you can do with your money. This is the best time to finance a house purchase in perhaps a generation so try that.
Another bit of advice is. Do you have debt? Get rid of it. Interest is the eater of capital. That and taxes. A good way to 'feel rich' is to have everything paid for. It is not necessarily the best way to invest but it sure feels good!
Don't try to time the market. Thats how you lose. If you have extra cash you are comfortable forgetting about then go ahead and buy some stocks. If not, but you still want to invest then look into mutual funds or index funds.
Perfect timing can get you a bonus 20% still from "recovery stocks" like Hilton, Marriott, Darden Restaurants, Kohls, etc, but I would avoid the risk of potentially losing 50% in the short term. Roll with good reliable stuff like Visa, MasterCard, Pepsico, Lowes and Microsoft and enjoy the bright future with very little risk.
Good advice from Tappen.
If you’re just learning about the market start small.
The SPY (S&P), QQQ or VUG (NASDAQ) funds are good places to be..at least they have been for me.
Just a tip...watch Apple.
It will begin trading Monday 8-31, after a 4/1 split.
Could be a good time to get in at a lesser price.
Full disclosure, I own all of the above.
Good Luck to you
Don't try to do it yourself. Even seasoned day traders get burned. Get an account at Ameritrade or Merrill Lynch, and have them put you into some good growth pools. Read their analysis. Then dabble a little on the side with individual stocks. If you have to ask, you shouldn't be day trading. Making a killing on big events means being set up to do so in advance. Go for long term, stable growth.
If you want to experiment, go get a free account on Morningstar.com, and buy/trade fake orders. See how you did 6 month from now with your picks.
And whatever you do, stay away from futures.
Me, I was set up for long term. I got hit, but it wasn't that bad, and with some solid advice from my guy, we're back on track to real growth. I don't day trade, not liquid enough for that.
Yep. I am all in stocks. Up 50K just in July.
Is it too late to get in there? or did i miss the train
Here's some more advanced, slightly politically cynical advice.
If you're planning to just plop money into an index fund, hold your cash for now because you've missed the train.
Look at the SPX, DJIA and NASDAQ performance during the past 3 years and notice the pattern.
Every year, there's a "major" politically-driven economic scandal which tanks the market and then after a few months, things claw to a new all-time high. The (1) threat and (2) then follow-through of the Chinese tariffs with a little bit of chaos after the election of the Squad and their Green New Deal, then (3) COVID.
After we win, the Dems even as a minority party will cook something up and you'll get another chance to invest come mid-2021.
In the meantime, there's a ton of other stuff you can do with your money. This is the best time to finance a house purchase in perhaps a generation so try that.
Another bit of advice is. Do you have debt? Get rid of it. Interest is the eater of capital. That and taxes. A good way to 'feel rich' is to have everything paid for. It is not necessarily the best way to invest but it sure feels good!
Don't try to time the market. Thats how you lose. If you have extra cash you are comfortable forgetting about then go ahead and buy some stocks. If not, but you still want to invest then look into mutual funds or index funds.
Perfect timing can get you a bonus 20% still from "recovery stocks" like Hilton, Marriott, Darden Restaurants, Kohls, etc, but I would avoid the risk of potentially losing 50% in the short term. Roll with good reliable stuff like Visa, MasterCard, Pepsico, Lowes and Microsoft and enjoy the bright future with very little risk.
Good advice from Tappen. If you’re just learning about the market start small. The SPY (S&P), QQQ or VUG (NASDAQ) funds are good places to be..at least they have been for me. Just a tip...watch Apple. It will begin trading Monday 8-31, after a 4/1 split. Could be a good time to get in at a lesser price.
Full disclosure, I own all of the above. Good Luck to you
It has and will hopefully continue. Most everyone I know has an Apple of some sort.
FTEC and ARK-invest funds are also interesting for growth.
Don't try to do it yourself. Even seasoned day traders get burned. Get an account at Ameritrade or Merrill Lynch, and have them put you into some good growth pools. Read their analysis. Then dabble a little on the side with individual stocks. If you have to ask, you shouldn't be day trading. Making a killing on big events means being set up to do so in advance. Go for long term, stable growth.
If you want to experiment, go get a free account on Morningstar.com, and buy/trade fake orders. See how you did 6 month from now with your picks.
And whatever you do, stay away from futures.
Me, I was set up for long term. I got hit, but it wasn't that bad, and with some solid advice from my guy, we're back on track to real growth. I don't day trade, not liquid enough for that.
Stop! My wallet can only take so much winning! Now I Need a bigger wallet!