Asking for help concerning finances

The_original_Maccyx · 2020-01-01T11:04:44+00:00

I opened my first brokerage account with $20,000 and have been adding to it ever since. You don’t even need that much to start to be quite honest, as long as you commit to continuing to add to your pile - and diversify. If your job has 401K and company match take advantage of that and at least contribute the max match (which I think standard is 5%). If you work for a company that has an employee stock purchase program take advantage of that, even if you turn around and sell it. I have 10% taken off the top of each check for that, and every three months I get X number of shares at a nice discount, which I immediate turn around and sell for a profit of give or take $1000, and then that is how I primarily feed the account. As your pile grows you can start thinking about branching out into other things. I personally will NOT get into real estate and rentals, I know a few people who have that going on, and it seems like way more hassle than it is worth with destructive tenants who don’t pay bills. The key is not how much money you have when you start, but the fact that you get started in the first place, and that you keep adding, as much or little as you can, on a regular basis. Getting started early is better than getting started late. I like many had an anchor with expensive tastes who didn’t mind spending my money, and money I didn’t have. I kicked her, had to file Chapter 13, but I kept everything, saved the house, and paid it off. I lost some years in there and have been very aggressive in getting back on schedule the last 3 years putting away between $75 and $100K each year. Even when paying off the bankruptcy at a clip of $1500/month and still having a mortgage and everything else to deal with I was saving gobs of money. And that may be the biggest key to your future financial wealth and independence - never let a woman have any sway over it. Don’t let her have access to your info such as SS #, etc. If you do meet another one down the line, don’t EVER let her try to dissuade you from diverting the funds you set aside for this pursuit. These days I take a full 40% of each check and divert it into some kind of fund having to play some catchup. I’m getting it done, and I’m not suffering too badly in the process, but it didn’t have to be this way had it not been for the aforementioned woman. Another couple of years and I’ll be in excellent position to retire early which is my eventual goal. I don’t quite think I’ll be able to do it at 50, but it is my ten year plan as we start this new decade. Currently I’m 44 and my goal is $1M in liquid assets in addition to two pensions and whatever else I’ll get if there is such a thing as SS. With no woman tugging on my bank account the last 7 years I’ve gone from being technically broke to having liquid assets exceeding $500K. It can be done...you just need to start and then stay committed. I carry zero credit card debt, and no vehicle payments. I do not live like a pauper but I live well within my means. Where my coworkers are driving new Porsches and BMWs my main vehicle is a 2015 Jetta I paid for in cash. It’s a mindset adjustment, but once you start seeing it grow and multiply, and once you get yourself to a point where you can breath easy because you know you can handle any financial difficulty that comes down the pike it will be worth the effort, especially when you notice those around you who know no better all still be struggling just to get by.

eduardkoopman · 2020-01-01T10:56:31+00:00

If passive putting money away. Go to more diversified stock markets (etfs, index, etc..).
Private investement imo only make sense, if you have the time and energy and power/control to have some influence and manage it. Beingable to get out, or sell, lso more difficult then with publicly traded stocks.
I never done it, so far. It can be a great thing with really good rewards (if you could had bought 10% ownership in Apple with your $100000 at the earlier stages, you would be giga rich now.) The risks are also higher, especially also when lacking experience (which is were we all start, anyways)

Flugzeug113 · 2020-01-01T11:28:07+00:00

With my bank you can open a brokerage account with whatever amount you want. I started with only $50 at the time, got almost $10,000 in it by now. Invest in a sector/industry you know about very well

I.e. if you’re into technology invest in tech companies

Do lots of research, set financial goals, and do not be reactive and freak out whenever the market dips and the value of your portfolio goes down. It’ll bounce back up at some point. Buy low sell high always

Anonymous-Samurai · 2020-01-01T11:08:24+00:00

Hey brother, what company did you start your brokerage account with?

Title	Asking for help concerning finances
Author	Anonymous-Samurai
Upvotes	1
Comments	6
Date	January 1, 2020 10:03 AM UTC (6 years ago)
Subreddit	Posted in /r/MGTOW
Original Link	https://old.reddit.com/r/MGTOW/comments/eigtow/asking_for_help_concerning_finances/
Archive Link	https://theredarchive.com/r/MGTOW/asking-for-help-concerning-finances.379563 https://theredarchive.com/post/379563

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