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rickyt31

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So I spent today at work looking for free money.  Cash back offers, free money for signing up, etc.  I got 50 dollars from one, like 40 from referring friends on Stash, a free stock by signing up for another and got my card linked to a few cash back programs. 

I do this every once in a while and I'm always surprised by how much free money is out there.  One of them I had completely forgotten I had and I tried to sign up again and when I realized I already had an account, I logged in and had 500 dollars on there. 

Anybody new to this should look into finding that free money out there for getting started. 

Edited by Outpost31
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On 4/17/2019 at 6:18 PM, ramssuperbowl99 said:

You can access money in a 401k well before 59.5 using the Roth Conversion Ladder.

https://www.moneyunder30.com/roth-ira-conversion-ladder

.Your boss is wrong - take the tax free growth. With a Roth 401k -> Roth IRA conversion, there aren't even any tax implications. Just roll the money over, and in 5 years you can take out the principal tax free with no penalty.

anigif_enhanced-buzz-3091-1384981995-0.g 

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  • 2 weeks later...

1. You decide if you want to go long or short before buying. You can do both but decide on the type of investing you want. Is it worth losing everything to make 1000% or you want 10-15% through dividends and growth?

2. It's a cliche but information and timing is 90% of success. Lucking out on a future isn't sustainable. 

3. Do you have any experience in gambling? Get some. If you struggle losing $100 in a minute you might not be ready for this. Maybe buy a mutual fund.

4. ETFs are a nice stepping stone.

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On 5/3/2019 at 2:28 AM, x0x said:

4. ETFs are a nice stepping stone.

Fastest way to create wealth. Sell in the money cash secured puts to collect premium and have the shares assigned to you, this lowers your cost basis to buy into a nice dividend paying oversold ETF such as the health care Spyder (XLV) . Then sell out of the money calls on it over and over and collect the premiums further lowering your cost basis, as you hold the shares collecting the dividends and compounding. Then sell in the money calls to exit the trade. Make the market pay you premiums to buy the shares, and exit the shares, while you collect dividends and capital gains AKA triple income wheel trades. Options are powerful tools but only sell them! If you want to buy them research debit spreads! Buying naked options can be extremely painful :(

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  • 2 months later...
5 minutes ago, LETSGOBROWNIES said:
10 hours ago, twslhs20 said:

any books, online classes or YouTube videos on how to get started about learning to invest? I'd like to soak up a ton of info before I start.

Reading this thread is a good start.

I’m pretty sure @ramssuperbowl99 has covered the basics a few times.  Start there.

You also would need to post more about your background and specific situations so we can give more specific advice.

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21 hours ago, twslhs20 said:

any books, online classes or YouTube videos on how to get started about learning to invest? I'd like to soak up a ton of info before I start.

One of the biggest things to learn is to respect the market. You need to believe and realize that if you were capable of beating normal indexed market returns you could be a billionaire fund manager.

Because I'm a CPA most of my friends who consider getting into investing or receive a windfall come to me to ask, and despite what I tell them they still go lose $XX,XXX trying to day trade. Some will experience short term success because the market in general is up only to crash even harder during down times.

My advice is if you have money the most important decision to make is asset allocation and getting out of most debt. 

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12 hours ago, ramssuperbowl99 said:

You also would need to post more about your background and specific situations so we can give more specific advice.

 I figured I'd reply to this one. Still need to comb through this thread.

rams knows I'm a scientist and still in school. Last 2 semesters thank god. I have had 1, 401K Savings plan from my previous job, Its around 85K. Return rate the last 3 years at 10% last 8 at 8%

I met with the my new company finance guy. The run a 401K pretax through principal. My portfolio is set up as Moderate aggressive and its some kind of diverse group of mutual funds and equities. I kind of want to leave my other account where it is if the returns are decent. But the Blackrock index fund was pulling like 14%.

But this is my conundrum. I feel like I know just enough to be a detriment to myself. I need more inf on how everything works before I start making moves.

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