How do I acquire assets?

ParalyticPoison · 2019-06-06T01:38:58+00:00

Assets can be anything, you are either going to spend $100 on 1000 plastic capsules, or $100,000 on a truck for moving stuff around, you have to have an idea of what you are going to buy and sell.

DangZagnut · 2019-06-06T01:39:09+00:00

That completely depends on the asset.

If you are starting with not a lot of money, you could begin by buying bonds. They're as cheap as $25 and very safe as beginning investments.

steelyknife1122 · 2019-06-06T10:07:57+00:00

Don't spend too much money on things that depreciate in value - ideally, purchase things that hold their value or increase in value.

Don't be scared to spend money on books or courses (but avoid those life coaching con artists).

Why is everyone obsessed with e-commerce?

Impossible-asset · 2019-06-06T13:26:43+00:00

Well, you start small. Get a TD Ameritrade account. Buy even one share of a good dividend yielding ETF or CEF fund and you'll have started acquiring assets.

Stocks

Bonds

Real estate

Trek13 · 2019-06-06T14:47:08+00:00

You are 22 and just starting. It is good that you are interested in financial success at such a young age, it will give you a huge leg up down the road.

Saving money on a regular basis, like each paycheck, is obviously the first step. For most this is surprisingly difficult. Sometimes I think it is a discipline that one needs to learn as a child. You need to build up a stake large enough to start working for you. This first level is tough, tough, TOUGH. It will get easier over time.
In order to save over time you must master budgeting. I use very simple excel spreadsheets I built and modified over several decades. I tried budgeting software (Quicken, etc.) but found it to be needlessly detailed. I dont need to know where every dollar went, I just need income, basic expenses, savings goal and whats leftover is discretionary income I can spend freely. Project your budget out at least a year.
Open up an account with one of the on-line brokers like Etrade, etc. I set up three accounts, a Roth IRA, a regular IRA and a trading account (after tax). You can start with just a regular trading account and over time add others. Start learning, there is a ton of resources available thru the on-line broker and elsewhere. It is truly amazing what is available now compared to what there was when I was just starting out in the '80's. Just keep learning.
Start safe and small. ETF's are good. Google "dividend Champions" and learn about high div stock and blue chips, etc.
DIVERSIFY. Put your eggs in many baskets. Figure out your own risk tolerance and how to ride the highs and lows.
Patience is a virtue. It is critical with investing. There are NO get rich quick schemes. It is all a long slog but well worth it.

I've been investing for over 35 years and am fairly high risk compared to most people I suppose. Have lost three fortunes during that time. Luckily I made four. If I had ever married I could never have done the crazy things I have (and I'd almost certainly still be slaving away in a cube).

ChensKitchen · 2019-06-07T14:18:13+00:00

Pay yourself first. Make a budget and stick to it.

daniellederek · 2019-06-08T01:43:32+00:00

Pay yourself first. Off the top.

Never be afraid to fire a customer.

And remember no good deed goes unpunished. Ever.

XRBislife · 2019-06-09T02:41:40+00:00

Crypto currency

TomahawkSuppository · 2019-06-11T20:35:34+00:00

First learn to identify assets and liabilities

Renegade_01 · 2019-06-20T19:54:12+00:00

Ha. If only I had asked this question when I was your age. Instead I was busy chasing broads and drinking lots of alcohol...

I'm about 38 now..got 1.5 acres and a house, and a few IRA accounts...none of which are anything to brag about...I think one of my IRA's has about 50k in it...I keep about 30k in savings and try not to touch it...

I think for me once I got 10k in savings it all got easier.

Start a ROTH IRA, and listen to some Tom Leykis "Money Monday" shows if you can still find em.

Title	How do I acquire assets?
Author	369iLikeWineandDIne
Upvotes	3
Comments	10
Date	June 6, 2019 1:35 AM UTC (7 years ago)
Subreddit	Posted in /r/MGTOW2
Original Link	https://old.reddit.com/r/MGTOW2/comments/bxaspx/how_do_i_acquire_assets/
Archive Link	https://theredarchive.com/r/MGTOW2/how-do-i-acquire-assets.813236 https://theredarchive.com/post/813236

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