FDS 101: Money = Freedom = Power

Phoenix__Rising2018 · 2021-02-11T23:18:22+00:00

I love this.

I think we should have more content about saving and investing and what to do with our money. Would you consider writing a post about what you've done/learned so far? Nothing big, just your experiences as a new amateur investor.

pao664 · 2021-02-12T03:31:33+00:00

Stick most of your money in safe ETFs or funds. Like the ARK funds and maybe QQQ/SPY. But watch the overall market direction. When the VIX spikes, I dump everything, move to cash. If it feels like there will be a huge correction, I buy 3x inverse ETFs but don’t stay in these long. I did very well in the crash last year moving my portfolio to SDOW and SQQQ for a few days- also buying calls on the VIX or UVXY when the market is tanking.

Take a portion of your money and put into Cryptos. And a portion in physical gold and silver. (In am IRA you can use PSLV for silver and PHYS for gold or CEF if you want exposure to both) Right now, I am taking a long position on commodities (oil) as we will have inflation and reduction in oil supplies.
Then I have a small portion of play money where I do crazy shit. Yes I get ideas for these kind of plays from wallstreetbets. Sometimes I lose (not much because I have tight trailing stops) but I often win. I banked $50k on that GameStop nonsense a few weeks back. I have a few tickers that I like to swing in and out of frequently. find a few stocks you like and get familiar with their patterns. One of the stocks I trade likes to dump about an hour after market open (buy then at a discount). This same ticker goes higher after hours/premarket which is when I sell it. Lather. Rinse. Repeat. Little wins add up. :-).

52490 · 2021-02-11T23:21:25+00:00

Yes! IRAs and index funds for mid to long term wealth!

TexiMcCrae · 2021-02-12T02:37:29+00:00

I invested in exercise equipment manufacturers at the beginning of the pandemic lol. Invested in more around New Years. People are predictable.

Softrito · 2021-02-12T00:21:37+00:00

I been thinking of selling audiobooks on amazon's audible.

mackenzie013 · 2021-02-12T00:11:15+00:00

I’m all about ETFs and a little bit of stock. I have also recently purchased my first house; to diversify a bit more. I was lucky enough that some of my stock shoot through the roof, so I sold it at peak and put it into a down deposit.

The dip in March was a good opportunity to get in on a few; Tesla, Amazon, Disney for example. Though, I’m mostly investing in tech and biotech (since I know it best). Some stocks also for fun; like today I purchased a little bit of Bumble (but the same nothing that I can’t lose).

It’s so important for women to take control of their finances and investing. We recently had a seminar at work, about how women that are married or in long term relationships tend to take a back seat and let men handle all the finances. Please please don’t ever do that; it doesn’t matter how much you have, take $5, $10 whatever and grow it. If you’re unsure about where to start, I’d strongly encourage you to seek independent financial advice and don’t take it from your partners. Also, make sure you always protect your assets!

shockingupdate · 2021-02-12T02:17:39+00:00

How does one even start investing? I have a 401(k) that I don’t keep a close eye on, but I want to get more hands-on with my finances

pao664 · 2021-02-12T03:35:32+00:00

I’m going to say something else- some of the BEST traders I have met have been women.
Women are more consistent and are better able to follow a rules based/technical approach and are able to be HUMBLED by the market whereas men like to argue with the market. Usually the trading rooms are full of men, but I guarantee in every one there are women posting too. Listen, watch, learn. You will make mistakes, but it is part of the process. It’s not just a man’s game. Women can play the game well and win big too.

GigiSanfilippo · 2021-02-12T00:01:42+00:00

The most valuable money I ever spent was for my education. I graduated about 10 years ago with an associate's degree. Since then, I have regularly contributed to a 401k, maxed out my roth contributions and am about to purchase a second home. The first home has been rented for about the last year and I've lived in an apartment during that time and saved for a down payment for a second home. Short term goals are to live in my second home for now, until I'm ready to go somewhere else. I'll continue to contribute to my 401 and max out the roth. If/when I'm ready to go somewhere else, I'll just rent my 2nd home and repeat. It took 7 years to get my associate's and it was worth every ounce of effort. I let the company I worked for pay for my bachelor's degree and the company I'm with now will pay for a master's, so I'm contemplating that as well.

spinsterchachkies · 2021-02-12T00:30:11+00:00

Thank you for this advice, I need to invest some money as well. I am trying to take charge of my financial future and I need all the help I can get.

circescircus · 2021-02-12T11:23:52+00:00

Start a hustle!

I worked as a UX/UI designer for years before becoming a cloud engineer. I still make money from my UI designs. I sell UI kits, it is a lucrative hustle, and it is also passive income.

When you start a business, you can open a self-directed solo 401k or SEP IRA. These are self-employed retirement accounts with extremely high contribution limits. The solo 401k contribution limit is $57k/year as of 2020. You can use the funds to invest in real estate, stocks and bonds, cryptocurrency or precious metals.

You can open these accounts even if you have a full-time job, you just need a small business or hustle without full-time employees. You can also continue contributing to your employer-matched 401k.

didsome1saybacon · 2021-02-13T05:44:46+00:00

Homeowners get rich, renters get poor. Ladies. Own. Your. Home. Real estate is an asset that has lowest chance of depreciating. Ever dollar you spend towards mortgage is money spent increasing your financial portfolio and net worth, every dollar spent on rent is lost money you can’t invest in yourself. You can pay 20% down payment and be paying a mortgage(a monthly payment towards your house) of $600 and living in a house worth $200k (depending on your interest rates/location) (interest rates are at record lows btw)

If you have debt eliminate that as soon as you possibly can and before investing in ANYTHING. Interest rates on debt will rob your wealth and networth like a LVM will rob your energy.

Listen to Dave Ramsey to learn how to get out of debt.

Listen to David Bach about automating your finances to make it low effort.

David Bach, talks about the latte factor which is a brilliant way to think about eliminating small, frequent expenses (like a daily 5$ latte from starbucks) that eat up your wealth in exchange for adding a low amount value to your life- like your time and men lol)

Listen to BiggerPockets on learning about real estate investing.

Read “I will teach you how to be rich”

Read “Think and grow rich”

If you don’t like podcasts- Audio books. If you can’t afford either- get the app Libby and get your butt to your local library and get a library card- enter the card number into the app (the last 4 digits are your pin) and boom. Free books and audio books. These books and audiobooks are there. (might be a wait but worth it)

The economy and stock market are doing world-record weird things rn. you don’t have to learn how to be a wiz at the stock market to be rich. I swear you just need to cover the basics. There’s a book called the “The Index Card” that’s about how small the financial knowledge you need to get rich could fit on a notecard. (Read that too)

Most companies/employers will match you if you contribute a certain percentage of your 401k contributions. Free money. Yes mam.

Opening your own business with zero profits can save you more on taxes than getting married will.

I’m a 26 y/o with a masters degree, no debt, making 6 figures in a tech job. This sub helped me learn how to respect and forgive myself after years of trauma and abuse. PM me if you need career or financial advice.

Edit: added more books below !

Dave Ramsey: Financial Peace and Total Money Makeover. Also had a great podcast/radio show/youtube videos “The Dave Ramsey Show”

David Bach: “Automatic Millionaire”

Thomas Stanley: “The Millionaire Next Door”

Best kickass woman financal queen role model: Lisa Nichols. Attached a youtube video or her story here

I watch this every time i think it’s all too hard. ^

MummyCroc · 2021-02-12T08:48:54+00:00

Not American so you won't know my stocks. But I have stocks in a bank, a supermarket chain, a dairy company, a clothing retailer, and a FMCG manufacturer. When my salary for this month comes in, I am planning to buy ETFs. I started investing at the end of last year, and my portfolio is steadily increasing with each paycheck. My strategy is more of a medium to long term holding, so I am trying to increase my shareholdings by a lot so I can get healthy dividends that can be a boost to my usual income

Princesspeach8188 · 2021-02-12T18:15:06+00:00

I have a financial advisor who manages a portfolio for me so that's mostly ETFs, mutual funds, etc.

Mid-2020, I started doing a very small amount of individual stocks - I bought CHWY at around ~$80, Draftkings (DKNG) at ~ $50, SNAP at around ~$45. I'm up over 10% on all of stocks on my own and it's only been a few months - success!

WingLate · 2021-02-12T18:24:19+00:00

Vanguard index funds. Life strategy growth and total world stock index have served me well. Buy and hold — be in it for the long term, don’t bank on gaming the system. But when everything crashes BUY. Right now, travel-related stocks are on sale. I mainly do the index fund approach, but have select few stocks or specialized funds.

Thejasminedragon1215 · 2021-02-13T01:23:08+00:00

I would be great to have a post explaining some resources for complete novices. I am intrigued by investing and stocks etc but I am overwhelmed and don’t know the first thing about it or how it works.

I think financial literacy is something we should be pushing for in this sub.

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L1ttl3Lun4 · 2021-02-13T05:08:52+00:00

Investing feels like gambling and I don't feel comfortable gambling

Snugglyy · 2021-02-13T05:54:43+00:00

I’m learning how to trade options, I found a paid private group that a feel good about joining once I’ve got the basics drilled in my head. I know it’s not much, but buying individual shares gives me too much anxiety for some reason.

Paradox_Blobfish · 2021-02-13T20:47:40+00:00

Invested in crypto. Got ADA at 0.54 and it's now around 0.9. Hopefully it will break the $1 barrier soon.

Other than that, ETFs for long term 😊

Title	FDS 101: Money = Freedom = Power
Author	UmmmHiHello
Upvotes	148
Comments	47
Date	February 11, 2021 6:51 PM UTC (5 years ago)
Subreddit	Posted in /r/FemaleDatingStrategy
Original Link	https://old.reddit.com/r/FemaleDatingStrategy/comments/lhrm7k/fds_101_money_freedom_power/
Archive Link	https://theredarchive.com/r/FemaleDatingStrategy/fds-101-money-freedom-power.739432 https://theredarchive.com/post/739432

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