(08-15-2021, 08:41 PM)Shannon Wrote:(08-15-2021, 06:16 PM)Raykon Wrote:(08-15-2021, 05:17 PM)Shannon Wrote: Silence is golden, my friend. Keep the silence.
Super glad to hear you're having good things happen. May I suggest you look into investing your money in something that will either hold its value over fiat money, or increase in value?
Thank you, & that's a good idea. Definitely want to keep brainstorming & looking for ways to make sure this opportunity I have helps me stay financially stable for the rest of my life.
The plan that I'm doing now is something that could very well last a life time, but you never know.
I always wanted to get into stocks / crypto, I remember the first time I read a book on stocks was when I was in grade 7, it's shame I never kept studying it. My older cousin had introduced me to it at the time & gave me a book by I believe "Jim Kramer or whatever his name is.
Now that I will have the funds it's something I will spend allot more time studying. An investing subliminal would be beautiful
I'm going to have allot of time while In Medellin to work on my goals, Music, & Study so I'm super excited & grateful, never been this happy in my life before.
& yeah Silence is great, & I know I say too much sometimes, & I get allot of people who doubt me, but honestly that pressure helps me stay on top of my goals because I always want to prove people wrong when they doubt me.
I definitely have some insecurity's & validation seeking issues that I still need to work on , I'm working on it now, taking an extended break from social media & trying to catch myself when I do it.
I'm super excited! I feel like the universe is rewarding me for making the right decisions & having good intentions. <3
I'm personally not very impressed with Kramer's style or ability to understand, analyze or predict the disruptive stocks and tech that is going to really make you a lot of money. His advice for the company I settled on was to buy it as soon as it had an IPO and then sell it when it started to come down again. If I had done that I would have lost a LOT of money. If I had bought even $1,000 worth of shares in this company when it IPO'd and then held it until today, I'd be holding a stake in this company worth around $304,000 today. Unfortunately, I didn't discover stocks (or this company) until the company I decided to invest in had started to be noticed by the general public, but my investment has still managed to 7x since early 2020.
I'm not giving you advice, but I am going to tell you what my way of doing this is. There are two major types of investors: those who want to get rich quick (the day traders, etc. who aren't really investing, they're gambling), and the investors, who buy a stock or an ETF and hold it for 5 to 50 years and sometimes more.
I am the kind of guy who wants to find one company, maybe two, who are great picks, and then invest in them for 10-20-30 years. The upside to this approach is that long term investing tends to negate the volatility of short term happenings and you achieve gains even if there is a crash, and sometimes, even if you pick a dud. The key is to do your research and understand the company you're investing in, and why they will increase in value and flourish in the future. Disruptive technology is good for that, but also relatively risky. I like Cathy Woods for advice in that direction.
If you want less work and less risk, I'm told investing in a REIT or an ETF is a good idea. I don't go that path. I look for the most disruptive tech and the best of breed within it's sector. More risk, but more gain potential.
This stock I favor, I'll keep that to myself because I don't want you to think I'm hyping it or giving you advice. You'll find it if you have a good brain in your head and look for the most disruptive companies and technologies. But as to that stock, my estimate is that even if everything goes wrong for that company, it will still go up another 6x during the next 10 years. And as best I can figure, it will most likely 18x to 24x during that time. Some people figure it will do even better than that. So what I do is I have a small amount automatically invested in that stock each month, and then I forget about it. Every so often I will take a look at how the company is doing, what they're doing, what challenges they face and so forth, but so far I have seen absolutely nothing that makes me think they're not going to go a lot further than they already have. And I got in relatively late!
So if you go for stocks, make sure you know what you need to know before you invest in a company or ETF or REIT. Do you want to gamble with short term day/swing trading, or do you want to invest for the long term in a safe but low yield option (ETF) or a higher risk but high yield option (disruptive industries and technologies)? Do you want to invest in dividend stocks and build up a steady monthly income that requires you to do nothing, or maybe reinvest that and get compounding interest effects? There are a lot of great options I haven't even started to learn about also. So learn, but keep in mind that "analysts" may or may not have their job because they have a good personality and can entertain, instead of accurately and successfully analyze, understand or make predictions.
I really appreciate the well thought out response, & you've definitely given me allot to think about, I always appreciate your wisdom & guidance. appreciate you more then you realize, thanks again <3
