[AngelOfMurci]

Wow. What good is money at 79? Hope there aren’t any 79 year olds on this forum reading that. Well, we will just disagree on this one. As a CFP, newbie or not, I’d recommend anyone with a 10 year time frame for some of their funds allocate it to the markets. And much better now than 2 months ago.

I have a young relative (28) that just got into investing a year ago. He was killing it. During Thanksgiving he asked me for some general portfolio advice. He was overloaded on tech. I told him I was really concerned about giving advice since I thought the markets were top heavy and running on vapor.

My thoughts were that the markets were at highs while the sh*tshow in DC was shutting down domestic fossil fuel production, giving free covid aid, inflation at record highs, feds pretending inflation wasn’t even present, Biden’s disastrous moves(got France to withdraw their US ambassador, Afghanistan withdrawal, Russia buildup along eastern Ukraine, 1.2 million illegals, covid shutdowns and forced vaccinations, record high crime, massive trillion dollar spending bills, schools shutdown, teachers union acting like nazis, etc).

he voted for Biden, so how do I politely tell him the markets are going to crash because he voted wrong? I can’t. So I advised him to sell a couple of his tech positions and get in energy and banking.

he’s done great in his energy position. However his banking position is modestly down, although it’s not getting crushed like the tech position he previously held. I thought 2022 would benefit the banking sector due to rate hikes.

I’ve been 100% divested from the markets since early November.

i will probably get back into the markets once traders and investors stop posting on investment sites. Financial beatings tend to make investors go dormant. They tune out.

I’ve been through numerous crashes. After the first one, I learned to go with my instincts and not be greedy.

the TV professionals have been saying buy, buy, buy these past few months. How has that helped?

as a point of emphasis… last year when Bitcoin was near $60k, some analyst on TV would pound the table every week saying Bitcoin would be at $100k by the end of 2021!!! The guy still gets airtime, but doesn’t mention Bitcoin any longer.

newbie investors often take their investing advice from strangers on tv. I do not want to set up a 59 year old for failure. Like I said before, if the OP wants to invest for fun/action, absolutely. But to recommend he take retirement money and risk it, is something I’ll never do.

 

[AngelOfMurci]

“What good is money at 79? Hope there aren’t any 79 year olds on this forum reading that”

a 79 year old, that owns a Lamborghini, probably doesn’t need anymore money. They are retired on a fixed income (SS, pension, etc).

I’d also like to recommend that everyone retire at the earliest time possible. Collect the Social Security. ITS YOUR MONEY. The government wants you to delay collecting it, because the actuaries have determined the government pays out LESS SS. Think about it. The US government wants you to collect less. So do the opposite. Start retirement at the earliest time possible.

think about all those folks in their early 60s that died from covid. They worked their entire lives paying into SS. Then BAM! All gone. The government must be smiling now. They don’t have that burden of paying out SS to tens of thousands of citizens. Now the money they just saved, has just been spent. (sent to Europe $15 billion in refugee aid)

it’s a twisted world. Take the money, enjoy it while you’re alive.

 

[AngelOfMurci]

Oh, my only investment advice would be to short any company making these…

 

[cantdrvfifty5]

He’s new to investing. It takes around a full decade of making mistakes, before you can consistently make money every year. After the first decade, he probably loses 20% of his starting stack. Then in the second decade he makes it back. When he’s 79 what good is money????

high sigma stocks have gotten their teeth kicked in recently. Down 30-50%. do you think at 59 it’s ok to be down that much just before retirement?

Once again, due to his profile, he should be in passive investments.

The OP stated that he would use ‘casino’ funds to invest. Otherwise, something that fills in their gambling habits. Hence, he should open an E*trade or TD account and have at it. Spin that wheel.

Maybe we should ask the OP how much money annually he would be content in making?

market momentum is not on anyones side, unless you’re on the short side. It’s hard to advise a 59 year old newbie investor when the world is on fire.

if he was 19 or 29 the equation changes… so much so, I would tell him to open an account ASAP and get ready for the markets to capitulate. Then go all in.

Everybody here has more than a wealth of information to give... And I appreciate every bit of it.. my wife enjoys gambling, I could take it or leave it.. personally I would much rather invest it.. so much to learn, and so little time.. I'm going to sit down and digest everything you all have suggested. Thanks to all!😎

 

[AngelOfMurci]

Everybody here has more than a wealth of information to give... And I appreciate every bit of it.. my wife enjoys gambling, I could take it or leave it.. personally I would much rather invest it.. so much to learn, and so little time.. I'm going to sit down and digest everything you all have suggested. Thanks to all!😎

Teach your wife how to play poker. There’s absolutely no way to win playing against the house. Playing no limit poker cash games will save your wife from losing, as you are only playing against other people.

 

[Rcasa20]

newbie investors often take their investing advice from strangers on tv. I do not want to set up a 59 year old for failure. Like I said before, if the OP wants to invest for fun/action, absolutely. But to recommend he take retirement money and risk it, is something I’ll never do.

You did catch the last line of my initial post right? I often don’t read til the end of every post. ADD I guess.

 

[AngelOfMurci]

You did catch the last line of my initial post right? I often don’t read til the end of every post. ADD I guess.

Did you refer to this quote?

“And much better now than 2 months ago.”

Correct, but it could get real good in 1 year from now, as we eat a can of beans under a thatched roof in some isolated mountain cave🤪

all to often, investors jump in way to soon. I’d rather wait until markets stabilize and bottom out, not into catching falling knives.

 

[Rcasa20]

Did you refer to this quote?

“And much better now than 2 months ago.”

Correct, but it could get real good in 1 year from now, as we eat a can of beans under a thatched roof in some isolated mountain cave🤪

all to often, investors jump in way to soon. I’d rather wait until markets stabilize and bottom out, not into catching falling knives.

There were no hash browns to be bought at Walmart today for my nephew. Please don’t tell me it can get worse! Statistically, investors get out too late and go back in too late (not too early). You come across as educated, checkout the Dalbar study of investor behavior.

 

[Afk49]

Loaded up on TSLA. Gas price shock will push people to go electric.

I personally am playing the field and have invested in a few different electric companies. Rivian, Fisker, etc. I have some tesla as well and have made good money, however, their stock is extremely overvalued in my opinion and eventually the bubble will burst.

 

[Afk49]

Anybody on this thread willing to point me in a direction to self-educate myself on how to invest in the market? I greatly appreciate anybody's time.
Angelofmurci- RUSSK- AFK49... you boys seem to know what you're doing, I realize playing the market is variable but can a guy make any sort of living from it?
I'm retired at 59 and looking for other means of income.
Thanks in advance for anybody's insight.

I'd say 60% of my portfolio is made up of safe stocks (apple, microsoft, google, bonds, etc). 20% is on the riskier side (tesla, AMD, tencent, etc.) The remaining 20% is high risk and thats where I have the most fun (crypto, random EV companies, things on the internet that I find and do a little bit of research on and think that the stock can be flipped essentially). At your age it really depends on what your investing goals are and how much money you have to play with. If you have $100k for example and your goal is to build long term wealth then I'd follow the 80/20 (80 safe/20 risky) rule. If you are just trying to make some money on the side and have some fun then look into some crazier things like your cryptos and random companies. I think the one rule I follow with my picks (other than the very risky ones) is I choose companies where I believe in the product and believe they will do well in the long term. I had many PCs, flip phones, even a palm pilot over the last few decades. I bought my first iPhone in 2010 as well as a macbook in 2012 and never looked back so apple is something I genuinely believe in. Things like that.

 

[AngelOfMurci]

Not my cup of tea, but these bonds are paying 7.2%
Something retirees or near retirees should consider.

Individual - Series I Savings Bonds

 

[michiganlambo]

That’s a good interest rate for as safe as they are. I think they have a $10k cap/limit thou…

Not my cup of tea, but these bonds are paying 7.2%
Something retirees or near retirees should consider.

Individual - Series I Savings Bonds

 

[2Tired]

That’s a good interest rate for as safe as they are. I think they have a $10k cap/limit thou…

Correct, also something to note ahead of time:

"I-Bonds purchased must be held for a minimum of one year. In addition, bonds cashed in between years 1-5 will lose the last 3 months of interest paid. Additionally, you are limited to $10,000 per year, per social security number (or EIN), plus another $5000 in paper I-bonds if you choose to get your tax refund back as I-bonds."

 

[Bull>Horse]

Anybody on this thread willing to point me in a direction to self-educate myself on how to invest in the market? I greatly appreciate anybody's time.
Angelofmurci- RUSSK- AFK49... you boys seem to know what you're doing, I realize playing the market is variable but can a guy make any sort of living from it?
I'm retired at 59 and looking for other means of income.
Thanks in advance for anybody's insight.

Check out The Bogleheads Guide to Investing and The Simple Path to Wealth. Great books imo.

Here's the Boglehead's forum:

https://www.bogleheads.org/forum/index.php

 

[AngelOfMurci]

Did you refer to this quote?

“And much better now than 2 months ago.”

Correct, but it could get real good in 1 year from now, as we eat a can of beans under a thatched roof in some isolated mountain cave🤪

all to often, investors jump in way to soon. I’d rather wait until markets stabilize and bottom out, not into catching falling knives.

@Rcasa20
Hey, we agree. It has gotten better than 2 months ago 😎

 

[Russk]

@Rcasa20
Hey, we agree. It has gotten better than 2 months ago 😎

I'm looking for a bounce in the QQQ. I decided to gamble and picked up some TQQQ. It has to have a big bounce soon, it is deeply oversold.

 

[AngelOfMurci]

I'm looking for a bounce in the QQQ. I decided to gamble and picked up some TQQQ. It has to have a big bounce soon, it is deeply oversold.

I’m sticking to my cash under the pillow thesis.
Have a quick trigger finger!
Good luck!

 

[Rcasa20]

I’m sticking to my cash under the pillow thesis.
Have a quick trigger finger!
Good luck!

At least cash under the pillow is only losing 8-10% per annum!!!

 

[Gh0st0]

Lol, I’ve been buying since December, how do you think I feel

 

[AngelOfMurci]

@Gh0st0
If I was 20 years younger, I’d probably doing the same. If I was 30 years younger, I’d be at the bar asking “WHY ME GOD?!! WHY ME?”