Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

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LiquidSky
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Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by LiquidSky » Sun Sep 30, 2018 4:16 pm

Hello everyone,

Nice to meet you all I am a beginner. This forum seems a bit advanced for me, but I’m a fast learner and I have found when I’m with people that are smarter then me I learn much faster.

Do you need an MBA from Harvard to get mega-rich? Those are the men and women that work on Wall Street. If I get an MBA from Uconn, for example, I’m not likely to even get in, right? Do you have to have gone to an Ivy League to work on Wall Street?

To start I know only a little about stocks, bonds, etc.... so books, DVD lectures, CD lectures, and YouTube video recommendations on investing are a plus, got any recommendations?

I’m going to level with you all...I have a love/hate relationship with money. I’m willing to bet I’m the only one in the entire world that feels this way, especially in the investing world where people worship money. I don’t gamble because the house always wins. So I see trading as a more secure way of making money, or is it just gambling too?

It’s true what people say “Do what makes you happy”. My dad hated his job and died an early death because of it. I definitely don’t want that. I don’t think I hate investing because I have never tried it of course. I might turn out to love it, I hope because investing seems like a great way to become a multimillionaire. I have to work crappy jobs just to pay for food. I don’t have enough money left over from paying my student loans, which are massive, to buy anything but food. I do live in a very, very, small apartment with a few other people.

It would really suck if I just got started with penny stocks and investing and I finally start to make some serious money , then guess what happens? The stock market crashes and nobody has any idea why. Maybe it’s because a civil war breaks out against the rich, so the poor start a guerrilla warfare that will make Vietnam look pale in comparison...or something like that. Talk about bad timing. Lucky for me I doubt the stock market will completely shut down, but I certainly don’t want to take a big hit like people did on 9/11 or the 2008 financial crisis. Maybe the 2008 crisis is a sign of even worse things to come, so if the market has a major crises the super-rich won’t lose anything, but I’m willing to bet people like us will lose everything.

Can a bedroom investor become richer than the people on Wall Street if he’s hungry enough? Or is Wall Street the only place to get super-rich? I’m hoping you could get really rich at home, because I am really sick and can only work from home these days. I have no money, I will have to start with penny stocks most likely. I’m broke because of my college loans, which I hope to pay back in full soon after I become a beast in investing, lol.

So where do I begin? I see people investing at home and in the walls of Wall Street with 6 to 8 desktop computers, but I’m not sure you need that many computers to invest do you? I’m starting with one for now, but if I invest good I could buy one and then another, until I have 8 computer desktop screens showing me that black background color with stocks going up and down on the screen in various colors. This leads me to another question what programs to investors use? Obviously I would need a good free investing software to show me whether stocks are going up or down. Since I’m just starting out I will probably day trader.

Any advice, input, guidance to give me?
Thank you so very much for any and all help
Last edited by LiquidSky on Sun Sep 30, 2018 4:27 pm, edited 1 time in total.

retiredjg
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Re: Beginner. Want to get rich. Help with starting a portfolio

Post by retiredjg » Sun Sep 30, 2018 4:24 pm

LiquidSky wrote:
Sun Sep 30, 2018 4:16 pm
So where do I begin?
Take a deep breath and start here. https://www.bogleheads.org/wiki/Getting_started

Yes, it really is that simple.

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fortfun
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Re: Beginner. Want to get rich. Help with starting a portfolio

Post by fortfun » Sun Sep 30, 2018 4:26 pm

Liquidsky, you won't find much get rich quick advice here. Mostly, slow but sure 3 fund portfolio using non-exciting total index us stocks, international stocks, and total us bonds.

Becoming an anesthesiologist, or some other high paying career is probably your best bet.
Good luck!

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JMacDonald
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Re: Beginner. Want to get rich. Help with starting a portfolio

Post by JMacDonald » Sun Sep 30, 2018 4:27 pm

retiredjg wrote:
Sun Sep 30, 2018 4:24 pm
LiquidSky wrote:
Sun Sep 30, 2018 4:16 pm
So where do I begin?
Take a deep breath and start here. https://www.bogleheads.org/wiki/Getting_started

Yes, it really is that simple.
retiredjg beat me to it.
My philosophy is that you create wealth over time, you don't get rich quick.
Best Wishes, | Joe

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Re: Beginner. Want to get rich. Help with starting a portfolio

Post by LadyGeek » Sun Sep 30, 2018 4:28 pm

3 members beat me to it... I'll throw in my post:

Welcome! You came to the right place. You don't need an MBA or special software. Forget the penny stocks. Don't day trade.

All you need to do is take your time and do some reading. Start with this free download: If You Can: How Millennials Can Get Rich Slowly

Then, read this: Getting started

Investing can be as simple as a single "all-in-one" fund. Really? Yep.

We can help you figure it out, but we need to know what you have now. Please post your info in this thread using the Asking Portfolio Questions format. It will make you think about the "big picture" while giving us the information we need to point you in the right direction.

If you get stuck, just do the best you can. If you have any questions, ask them here.
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.

LiquidSky
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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by LiquidSky » Sun Sep 30, 2018 4:33 pm

Fortfun : Do you say this because you don’t think I have the guts to make in in investing or stocks, etc.? You think I wont make it in your investing sphere? So therefore I should go into anesthesiology or some other professional career? I’m not so sure I want a regular “job”. Maybe I want to invest and get rich. It’s sounds to me like you don’t think I got what it takes, but I think I do.


Thanks for the advice so far everyone.
Last edited by LiquidSky on Sun Sep 30, 2018 4:38 pm, edited 1 time in total.

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fortfun
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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by fortfun » Sun Sep 30, 2018 4:37 pm

LiquidSky wrote:
Sun Sep 30, 2018 4:33 pm
Fortfun : Do you say this because you don’t think I have the guts to make in in investing or stocks, etc.? You think I wont make it in your investing sphere? So therefore I should go into anesthesiologist or some professional career? I’m not so sure I want a regular “job”. Maybe I want to invest and get rich.
No, just saying this really isn't that kind of forum. It's a very boring investing forum, generally 1/3 Tot US total index, 1/3 Tot Int Stocks, 1/3 Total US bonds. Purchased at a low fee shop like Vanguard, Fidelity, Schwab, etc.

LiquidSky
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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by LiquidSky » Sun Sep 30, 2018 4:39 pm

fortfun wrote:
Sun Sep 30, 2018 4:37 pm
LiquidSky wrote:
Sun Sep 30, 2018 4:33 pm
Fortfun : Do you say this because you don’t think I have the guts to make in in investing or stocks, etc.? You think I wont make it in your investing sphere? So therefore I should go into anesthesiologist or some professional career? I’m not so sure I want a regular “job”. Maybe I want to invest and get rich.
No, just saying this really isn't that kind of forum. It's a very boring investing forum, generally 1/3 Tot US total index, 1/3 Tot Int Stocks, 1/3 Total US bonds. Purchased at a low fee shop like Vanguard, Fidelity, Schwab, etc.
.

Ok. So, In other words this is a very specific kind of investing that you people do especially in this forum. Perhaps I should look for another investing forum. Let me ask you guys this first though, has this kind of specialised portfolio investing made anyone here an actual multimillionaire?
Last edited by LiquidSky on Sun Sep 30, 2018 4:47 pm, edited 1 time in total.

CppCoder
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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by CppCoder » Sun Sep 30, 2018 4:44 pm

Investing is a long, slow way to grow your wealth. You will not become mega-rich investing. It's nothing against you, it's just not how it works. To become mega-rich (let's define that as net worth of 50-100 million dollars or more), you have only a few options. They are things like start a wildly successful business, become the CXO of a major company, become a top athlete, become a successful actor, discover your house is on a billion barrel oil reservoir, inherit all your wealth, etc. Investing is not one of the options.

LiquidSky
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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by LiquidSky » Sun Sep 30, 2018 4:49 pm

CppCoder wrote:
Sun Sep 30, 2018 4:44 pm
Investing is a long, slow way to grow your wealth. You will not become mega-rich investing. It's nothing against you, it's just not how it works. To become mega-rich (let's define that as net worth of 50-100 million dollars or more), you have only a few options. They are things like start a wildly successful business, become the CXO of a major company, become a top athlete, become a successful actor, discover your house is on a billion barrel oil reservoir, inherit all your wealth, etc. Investing is not one of the options.
Understood. However, I assume over the long term you can make up to the millions, at least? Warren Buffett is a billionaire investor for example.

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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by jabberwockOG » Sun Sep 30, 2018 4:49 pm

For 99 out of 100 people most get rich quick plans are actually a get poor and stay poor fast plan.

Instead suggest you regularly (once a month works very well) invest 15% of your gross income in tax deferred retirement account in 3-4 broad market index funds starting as early in age as possible and stick to it for 35-40 years. Result is almost certainly a financially secure retirement. Most other alternatives are basically a crap shoot especially for non professional investors.
Last edited by jabberwockOG on Sun Sep 30, 2018 4:51 pm, edited 1 time in total.

retiredjg
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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by retiredjg » Sun Sep 30, 2018 4:52 pm

Liquidsky, nobody is talking about your ability or determination. Getting rich quickly happens for VERY few people and for most of them it is being in the right place at the right time. That's called "luck". It has only a little to do with ability, determination, or skill.

If you want to invest, read the links posted. If you want to gamble, you won't find a lot of assistance for that here. This is an investing crowd, not a gambling crowd (although there are several professional gamblers who post from time to time).

retiredjg
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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by retiredjg » Sun Sep 30, 2018 4:57 pm

LiquidSky wrote:
Sun Sep 30, 2018 4:39 pm
Let me ask you guys this first though, has this kind of specialised portfolio investing made anyone here an actual multimillionaire?
There are many multimillionaires here. Some made it the Boglehead way. Some did not.

True investing is more about how much money you save and keeping expenses low than a specialized portfolio or some kind of magic formula to make a lot of money very fast.

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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by barnaclebob » Sun Sep 30, 2018 4:58 pm

You wont get mega rich unless you earn mega money through your job, own a business, or getting extremely lucky. The stock market can improve your situation but your earning potential is most important. You wont get rich being a stay at home day trader no matter how many computer screens you buy.
Last edited by barnaclebob on Sun Sep 30, 2018 4:59 pm, edited 1 time in total.

CppCoder
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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by CppCoder » Sun Sep 30, 2018 4:59 pm

LiquidSky wrote:
Sun Sep 30, 2018 4:49 pm
CppCoder wrote:
Sun Sep 30, 2018 4:44 pm
Investing is a long, slow way to grow your wealth. You will not become mega-rich investing. It's nothing against you, it's just not how it works. To become mega-rich (let's define that as net worth of 50-100 million dollars or more), you have only a few options. They are things like start a wildly successful business, become the CXO of a major company, become a top athlete, become a successful actor, discover your house is on a billion barrel oil reservoir, inherit all your wealth, etc. Investing is not one of the options.
Understood. However, I assume over the long term you can make up to the millions, at least? Warren Buffett is a billionaire investor for example.
If you could make an internal rate of return of 8%, and you had $100,000 invested, after 30 years, you'd have a million dollars. To make a million dollars, you essentially need a high income to get you started. You don't start from nothing and make money investing. You start from something and grow it slowly.

The Warren Buffett is a billionaire investor myth is nonsense. Warren Buffett is the chairman and CEO of a Fortune 5 company and has been in his position for nearly 50 years. He's made his billions through his ownership of Berkshire Hathaway. He didn't make his billions sitting in his bedroom day trading.

LiquidSky
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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by LiquidSky » Sun Sep 30, 2018 5:02 pm

retiredjg wrote:
Sun Sep 30, 2018 4:52 pm
Liquidsky, nobody is talking about your ability or determination. Getting rich quickly happens for VERY few people and for most of them it is being in the right place at the right time. That's called "luck". It has only a little to do with ability, determination, or skill.

If you want to invest, read the links posted. If you want to gamble, you won't find a lot of assistance for that here. This is an investing crowd, not a gambling crowd (although there are several professional gamblers who post from time to time).
I definitely don’t want to gamble, I made that clear in my OP I thought. I’m learning a lot already thank you.

I see now that investing is a long, slow process. It’s strange to me though, these investment gurus are always saying how by investing you can make a milllion in a year if your good at it and “ have a god strategy”...are you sure that’s not kind of accurate?

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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by fortfun » Sun Sep 30, 2018 5:04 pm

LiquidSky wrote:
Sun Sep 30, 2018 5:02 pm
retiredjg wrote:
Sun Sep 30, 2018 4:52 pm
Liquidsky, nobody is talking about your ability or determination. Getting rich quickly happens for VERY few people and for most of them it is being in the right place at the right time. That's called "luck". It has only a little to do with ability, determination, or skill.

If you want to invest, read the links posted. If you want to gamble, you won't find a lot of assistance for that here. This is an investing crowd, not a gambling crowd (although there are several professional gamblers who post from time to time).
I definitely don’t want to gamble, I made that clear in my OP I thought. I’m learning a lot already thank you.

I see now that investing is a long, slow process. It’s strange to me though, these investment gurus are always saying how by investing you can make a milllion in a year if your good at it and “ have a god strategy”...are you sure that’s not kind of accurate?
They are trying to sell you their snake oil solution, sadly...

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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by MotoTrojan » Sun Sep 30, 2018 5:08 pm

LiquidSky wrote:
Sun Sep 30, 2018 5:02 pm
retiredjg wrote:
Sun Sep 30, 2018 4:52 pm
Liquidsky, nobody is talking about your ability or determination. Getting rich quickly happens for VERY few people and for most of them it is being in the right place at the right time. That's called "luck". It has only a little to do with ability, determination, or skill.

If you want to invest, read the links posted. If you want to gamble, you won't find a lot of assistance for that here. This is an investing crowd, not a gambling crowd (although there are several professional gamblers who post from time to time).
I definitely don’t want to gamble, I made that clear in my OP I thought. I’m learning a lot already thank you.

I see now that investing is a long, slow process. It’s strange to me though, these investment gurus are always saying how by investing you can make a milllion in a year if your good at it and “ have a god strategy”...are you sure that’s not kind of accurate?
So what is your strategy?

LiquidSky
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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by LiquidSky » Sun Sep 30, 2018 5:08 pm

fortfun wrote:
Sun Sep 30, 2018 5:04 pm
LiquidSky wrote:
Sun Sep 30, 2018 5:02 pm
retiredjg wrote:
Sun Sep 30, 2018 4:52 pm
Liquidsky, nobody is talking about your ability or determination. Getting rich quickly happens for VERY few people and for most of them it is being in the right place at the right time. That's called "luck". It has only a little to do with ability, determination, or skill.

If you want to invest, read the links posted. If you want to gamble, you won't find a lot of assistance for that here. This is an investing crowd, not a gambling crowd (although there are several professional gamblers who post from time to time).
I definitely don’t want to gamble, I made that clear in my OP I thought. I’m learning a lot already thank you.

I see now that investing is a long, slow process. It’s strange to me though, these investment gurus are always saying how by investing you can make a milllion in a year if your good at it and “ have a god strategy”...are you sure that’s not kind of accurate?
They are trying to sell you their snake oil solution, sadly...
Got it. Thanks

2pedals
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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by 2pedals » Sun Sep 30, 2018 5:12 pm

LiquidSky wrote:
Sun Sep 30, 2018 4:16 pm
<---- cut ---->
I have to work crappy jobs just to pay for food. I don’t have enough money left over from paying my student loans, which are massive, to buy anything but food. I do live in a very, very, small apartment with a few other people.
<---- and paste ---->
Sorry to break the bad news.
You are off to a very bad start. If you took out a very large college loan for a non marketable degree you have very little chance of saving enough money to live the life style of rich and maybe famous. You need to get realistic. Work hard and make a living by doing something that can earn a good living then maybe you can save some money to invest.
Last edited by 2pedals on Sun Sep 30, 2018 5:31 pm, edited 1 time in total.

Tellurius
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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by Tellurius » Sun Sep 30, 2018 5:13 pm

LiquidSky wrote:
Sun Sep 30, 2018 5:02 pm
retiredjg wrote:
Sun Sep 30, 2018 4:52 pm
Liquidsky, nobody is talking about your ability or determination. Getting rich quickly happens for VERY few people and for most of them it is being in the right place at the right time. That's called "luck". It has only a little to do with ability, determination, or skill.

If you want to invest, read the links posted. If you want to gamble, you won't find a lot of assistance for that here. This is an investing crowd, not a gambling crowd (although there are several professional gamblers who post from time to time).
I definitely don’t want to gamble, I made that clear in my OP I thought. I’m learning a lot already thank you.

I see now that investing is a long, slow process. It’s strange to me though, these investment gurus are always saying how by investing you can make a milllion in a year if your good at it and “ have a god strategy”...are you sure that’s not kind of accurate?
Some of the best advice I've read (probably in this forum, but I can't remember the source) is that you shouldn't think of it as investing. Investing conjures a glamorous image, multiple computer screens, the spin of the roulette wheel, some nice cocktail in a high-end bar.

What you are really doing is saving money for the future, for any bumps in the winding course of life, and for your eventual retirement. Our savings rate is dependent both on our financial situation, but also unfortunately our temperament.

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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by TomCat96 » Sun Sep 30, 2018 5:17 pm

LiquidSky wrote:
Sun Sep 30, 2018 4:16 pm
Hello everyone,

Nice to meet you all I am a beginner. This forum seems a bit advanced for me, but I’m a fast learner and I have found when I’m with people that are smarter then me I learn much faster.

Do you need an MBA from Harvard to get mega-rich? Those are the men and women that work on Wall Street. If I get an MBA from Uconn, for example, I’m not likely to even get in, right? Do you have to have gone to an Ivy League to work on Wall Street?

To start I know only a little about stocks, bonds, etc.... so books, DVD lectures, CD lectures, and YouTube video recommendations on investing are a plus, got any recommendations?

I’m going to level with you all...I have a love/hate relationship with money. I’m willing to bet I’m the only one in the entire world that feels this way, especially in the investing world where people worship money. I don’t gamble because the house always wins. So I see trading as a more secure way of making money, or is it just gambling too?

It’s true what people say “Do what makes you happy”. My dad hated his job and died an early death because of it. I definitely don’t want that. I don’t think I hate investing because I have never tried it of course. I might turn out to love it, I hope because investing seems like a great way to become a multimillionaire. I have to work crappy jobs just to pay for food. I don’t have enough money left over from paying my student loans, which are massive, to buy anything but food. I do live in a very, very, small apartment with a few other people.

It would really suck if I just got started with penny stocks and investing and I finally start to make some serious money , then guess what happens? The stock market crashes and nobody has any idea why. Maybe it’s because a civil war breaks out against the rich, so the poor start a guerrilla warfare that will make Vietnam look pale in comparison...or something like that. Talk about bad timing. Lucky for me I doubt the stock market will completely shut down, but I certainly don’t want to take a big hit like people did on 9/11 or the 2008 financial crisis. Maybe the 2008 crisis is a sign of even worse things to come, so if the market has a major crises the super-rich won’t lose anything, but I’m willing to bet people like us will lose everything.

Can a bedroom investor become richer than the people on Wall Street if he’s hungry enough? Or is Wall Street the only place to get super-rich? I’m hoping you could get really rich at home, because I am really sick and can only work from home these days. I have no money, I will have to start with penny stocks most likely. I’m broke because of my college loans, which I hope to pay back in full soon after I become a beast in investing, lol.

So where do I begin? I see people investing at home and in the walls of Wall Street with 6 to 8 desktop computers, but I’m not sure you need that many computers to invest do you? I’m starting with one for now, but if I invest good I could buy one and then another, until I have 8 computer desktop screens showing me that black background color with stocks going up and down on the screen in various colors. This leads me to another question what programs to investors use? Obviously I would need a good free investing software to show me whether stocks are going up or down. Since I’m just starting out I will probably day trader.

Any advice, input, guidance to give me?
Thank you so very much for any and all help
Welcome to bogleheads.


I'm going to assume you are quite young.
Let me break it down for you what you can get out of the boglehead philosophy.

With a reasonable salary, good savings, and by investing properly, following boglehead philosophy will give you a reasonable* assurance
that you'll be a millionaire or multi-millionaire by the time you retire.

It's not a get rich quick scheme. Yes you can build wealth following the principles here.
No we're not here to make money from you. You don't have to buy any books, attend any seminars. All you need to learn is a set of ideas, and to build a personal plan for yourself off those ideas.

So what's the catch? The catch is, you have to follow a plan for the rest of your life. You'll build your wealth. It will take decades to get there however.

*we'll worry about what reasonable means later.

susleni
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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by susleni » Sun Sep 30, 2018 5:18 pm

Reading William Bernstein's If You Can: (https://www.etf.com/docs/IfYouCan.pdf) is worth the fifteen minutes. Read it today. Read it again tomorrow, and a third time the next day. Lower your living expenses starting with what you drive and where you live. Your friends probably won't understand, and that's okay. Mine didn't, but they're still there. The three-fund portfolio recommended in this thread is a simple and effective approach that is very much hands-off and hopefully won't consume you. Be frugal and pay yourself first, and you'll have an abundance later in life. Hopefully, you (and all of us) will ultimately use it to make the world a better place.

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Re: Beginner. Want to get rich. Help with starting a portfolio

Post by Dottie57 » Sun Sep 30, 2018 5:19 pm

fortfun wrote:
Sun Sep 30, 2018 4:26 pm
Liquidsky, you won't find much get rich quick advice here. Mostly, slow but sure 3 fund portfolio using non-exciting total index us stocks, international stocks, and total us bonds.

Becoming an anesthesiologist, or some other high paying career is probably your best bet.
Good luck!
+1

If everyone here knew how to become mega rich, the forum would not exist. We walk the slow road to Dublin.

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JoMoney
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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by JoMoney » Sun Sep 30, 2018 5:20 pm

LiquidSky wrote:
Sun Sep 30, 2018 4:16 pm
... So I see trading as a more secure way of making money, or is it just gambling too? ...
So where do I begin? I see people investing at home and in the walls of Wall Street with 6 to 8 desktop computers, but I’m not sure you need that many computers to invest do you? I’m starting with one for now, but if I invest good I could buy one and then another, until I have 8 computer desktop screens showing me that black background color with stocks going up and down on the screen in various colors. This leads me to another question what programs to investors use? Obviously I would need a good free investing software to show me whether stocks are going up or down. Since I’m just starting out I will probably day trader...
This board isn't geared to "traders". Most on here probably think of trading as another form of gambling, at least I know I do, but I'll narrow that to it being gambling for those of us who don't have more information, or better positions in the market (like being a broker or middle man).
The type of investing advice you'll get on here, is not to trade, but to be a long-term owner, buying a diversified portfolio of companies (or maybe all of them - buy an index fund of the whole market), and accept those returns while focusing your energy and efforts to your career, paying off your debts, and increasing your saving.
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham

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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by gvsucavie03 » Sun Sep 30, 2018 5:21 pm

To get rich quick:

1) Get a crystal ball so you know the stock market direction for 12 months. Better yet, the direction of the top 15 US stocks.

2) Leverage up to your eyeballs (house, farm, etc.). Buy at those perfect moments.

3) Sell your strategy to an investing magazine (or just keep the secret to yourself).

4) Get multi rich fast, pay the taxman.

5) If that doesn't work, make pro in the NFL, NBA, NHL or other major sport (but don't spend it all) or sell your latest album to a major record label.

For everyone else that doesn't have any of the above, we earn money and invest at regular intervals. Some toy with stocks and day trading, but most of us here don't want to lose our shirt.

TheDDC
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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by TheDDC » Sun Sep 30, 2018 5:22 pm

fortfun wrote:
Sun Sep 30, 2018 4:37 pm
LiquidSky wrote:
Sun Sep 30, 2018 4:33 pm
Fortfun : Do you say this because you don’t think I have the guts to make in in investing or stocks, etc.? You think I wont make it in your investing sphere? So therefore I should go into anesthesiologist or some professional career? I’m not so sure I want a regular “job”. Maybe I want to invest and get rich.
No, just saying this really isn't that kind of forum. It's a very boring investing forum, generally 1/3 Tot US total index, 1/3 Tot Int Stocks, 1/3 Total US bonds. Purchased at a low fee shop like Vanguard, Fidelity, Schwab, etc.
Some of us high rollers have been known to do 0% bonds. This will you rich quicker but could also get you temporarily poor, then rich again.

-TheDDC

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Re: Beginner. Want to get rich. Help with starting a portfolio

Post by LiquidSky » Sun Sep 30, 2018 5:30 pm

Dottie57 wrote:
Sun Sep 30, 2018 5:19 pm
fortfun wrote:
Sun Sep 30, 2018 4:26 pm
Liquidsky, you won't find much get rich quick advice here. Mostly, slow but sure 3 fund portfolio using non-exciting total index us stocks, international stocks, and total us bonds.

Becoming an anesthesiologist, or some other high paying career is probably your best bet.
Good luck!
+1

If everyone here knew how to become mega rich, the forum would not exist. We walk the slow road to Dublin.
“Walk the slow road to Dublin.” What does that mean? So there is no fast track in investing?


Thanks for everyone’s advice, input, etc. much appreciated.

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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by LiquidSky » Sun Sep 30, 2018 5:37 pm

susleni wrote:
Sun Sep 30, 2018 5:18 pm
Reading William Bernstein's If You Can: (https://www.etf.com/docs/IfYouCan.pdf) is worth the fifteen minutes. Read it today. Read it again tomorrow, and a third time the next day. Lower your living expenses starting with what you drive and where you live. Your friends probably won't understand, and that's okay. Mine didn't, but they're still there. The three-fund portfolio recommended in this thread is a simple and effective approach that is very much hands-off and hopefully won't consume you. Be frugal and pay yourself first, and you'll have an abundance later in life. Hopefully, you (and all of us) will ultimately use it to make the world a better place.
Great. I’m thinking of buying “Bogleheads Guide to Investing”. Has anyone read it? Did it help you?

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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by Tellurius » Sun Sep 30, 2018 5:37 pm

LiquidSky wrote:
Sun Sep 30, 2018 5:37 pm
susleni wrote:
Sun Sep 30, 2018 5:18 pm
Reading William Bernstein's If You Can: (https://www.etf.com/docs/IfYouCan.pdf) is worth the fifteen minutes. Read it today. Read it again tomorrow, and a third time the next day. Lower your living expenses starting with what you drive and where you live. Your friends probably won't understand, and that's okay. Mine didn't, but they're still there. The three-fund portfolio recommended in this thread is a simple and effective approach that is very much hands-off and hopefully won't consume you. Be frugal and pay yourself first, and you'll have an abundance later in life. Hopefully, you (and all of us) will ultimately use it to make the world a better place.
Great. I’m thinking of buying “Bogleheads Guide to Investing”. Has anyone read it? Did it help you?
Would it be better to start with the Bogleheads Wiki?

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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by MotoTrojan » Sun Sep 30, 2018 5:40 pm

LiquidSky wrote:
Sun Sep 30, 2018 5:37 pm
susleni wrote:
Sun Sep 30, 2018 5:18 pm
Reading William Bernstein's If You Can: (https://www.etf.com/docs/IfYouCan.pdf) is worth the fifteen minutes. Read it today. Read it again tomorrow, and a third time the next day. Lower your living expenses starting with what you drive and where you live. Your friends probably won't understand, and that's okay. Mine didn't, but they're still there. The three-fund portfolio recommended in this thread is a simple and effective approach that is very much hands-off and hopefully won't consume you. Be frugal and pay yourself first, and you'll have an abundance later in life. Hopefully, you (and all of us) will ultimately use it to make the world a better place.
Great. I’m thinking of buying “Bogleheads Guide to Investing”. Has anyone read it? Did it help you?
Yes. You’ll need to work still. Nothing in that will allow you to turn penny sticks into a financed life.

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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by LiquidSky » Sun Sep 30, 2018 5:42 pm

Tellurius wrote:
Sun Sep 30, 2018 5:37 pm
LiquidSky wrote:
Sun Sep 30, 2018 5:37 pm
susleni wrote:
Sun Sep 30, 2018 5:18 pm
Reading William Bernstein's If You Can: (https://www.etf.com/docs/IfYouCan.pdf) is worth the fifteen minutes. Read it today. Read it again tomorrow, and a third time the next day. Lower your living expenses starting with what you drive and where you live. Your friends probably won't understand, and that's okay. Mine didn't, but they're still there. The three-fund portfolio recommended in this thread is a simple and effective approach that is very much hands-off and hopefully won't consume you. Be frugal and pay yourself first, and you'll have an abundance later in life. Hopefully, you (and all of us) will ultimately use it to make the world a better place.
Great. I’m thinking of buying “Bogleheads Guide to Investing”. Has anyone read it? Did it help you?
Would it be better to start with the Bogleheads Wiki?
Of course. I’m going to buy it after anyway as this sounds like a good forum, with good smart people, to me.

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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by StoopieHippo » Sun Sep 30, 2018 5:45 pm

LiquidSky wrote:
Sun Sep 30, 2018 5:37 pm
susleni wrote:
Sun Sep 30, 2018 5:18 pm
Reading William Bernstein's If You Can: (https://www.etf.com/docs/IfYouCan.pdf) is worth the fifteen minutes. Read it today. Read it again tomorrow, and a third time the next day. Lower your living expenses starting with what you drive and where you live. Your friends probably won't understand, and that's okay. Mine didn't, but they're still there. The three-fund portfolio recommended in this thread is a simple and effective approach that is very much hands-off and hopefully won't consume you. Be frugal and pay yourself first, and you'll have an abundance later in life. Hopefully, you (and all of us) will ultimately use it to make the world a better place.
Great. I’m thinking of buying “Bogleheads Guide to Investing”. Has anyone read it? Did it help you?
First things first - borrow the book from the library. Don't buy it. The library is free and all your extra money outside of rent and student loans goes towards food. Don't buy the book. Save and keep saving.

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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by LiquidSky » Sun Sep 30, 2018 5:48 pm

Sorry, wish I could delete those. I was just trying to edit. It was a mistake.

[No worries, I removed the duplicate posts. --admin LadyGeek]
Last edited by LiquidSky on Sun Sep 30, 2018 5:49 pm, edited 1 time in total.

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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by MotoTrojan » Sun Sep 30, 2018 5:49 pm

What’s your strategy to make $1000? What are you starting with? What are your monthly expenses? Income?

Genuinely curious.

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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by celia » Sun Sep 30, 2018 5:53 pm

LiquidSky wrote:
Sun Sep 30, 2018 5:02 pm
I see now that investing is a long, slow process. It’s strange to me though, these investment gurus are always saying how by investing you can make a milllion in a year if your good at it and “ have a god strategy”...are you sure that’s not kind of accurate?
Q: If they had "the" workable strategy, why haven't they used it to become super wealthy and already retired?

A: Because they don't know anything special, except how to sell to suckers.

Do you want to know the single most important factor that impacts your eventual wealth?

It is the amount of money you are able to save when you are young. At the beginning it doesn't matter what you invest in. You can buy a stock fund, bond fund, international stock fund, etc. (note that I gave example of FUNDS so that you are diversified--not having all your assets in one company that could go broke/bankrupt). The is an important concept.

And the reason you need to start early is that you will have more time for the growth to compound. If you have $x when you are 60, it won't be worth as much in retirement compared to someone having $x when they are 30.

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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by oldcomputerguy » Sun Sep 30, 2018 5:58 pm

LiquidSky wrote:
Sun Sep 30, 2018 5:02 pm
I see now that investing is a long, slow process. It’s strange to me though, these investment gurus are always saying how by investing you can make a milllion in a year if your good at it and “ have a god strategy”...are you sure that’s not kind of accurate?
Would these be the same “investing gurus” who offer to teach you their Super Secret System to Get Rich Quick for only $(fill in the amount)? If they had the secret of getting rich in the market, would they be offering to share it with you at any price? Wouldn’t they use their system, then go to the beach?

Turn off the TV, stop listening to the gurus. As you read and learn, you will learn that they do not have the “secret” of getting rich quick. Nobody does. The sooner you learn and accept that, the sooner you can start on the road to accomplishing your objectives.
It’s taken me a lot of years, but I’ve come around to this: If you’re dumb, surround yourself with smart people. And if you’re smart, surround yourself with smart people who disagree with you.

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Re: Beginner. Want to get rich. Help with starting a portfolio

Post by retiredjg » Sun Sep 30, 2018 6:01 pm

LiquidSky wrote:
Sun Sep 30, 2018 5:30 pm
“Walk the slow road to Dublin.” What does that mean? So there is no fast track in investing?
It means several things.

One of the founders of this forum is fond of saying "there are many roads to Dublin" meaning there is more than one good road (portfolio) to get where you are going (Dublin).

None of the good roads would be a "fast track".

Instead, save a reasonable amount of money. Keep your investing costs, including taxes, low. Don't do stupid stuff.

Foremost among the stupid stuff would be get rich quick schemes.

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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by CaliJim » Sun Sep 30, 2018 6:17 pm

LiquidSky wrote:
Sun Sep 30, 2018 4:16 pm
Hello everyone,

Nice to meet you all I am a beginner. This forum seems a bit advanced for me, but I’m a fast learner and I have found when I’m with people that are smarter then me I learn much faster.

Do you need an MBA from Harvard to get mega-rich? Those are the men and women that work on Wall Street. If I get an MBA from Uconn, for example, I’m not likely to even get in, right? Do you have to have gone to an Ivy League to work on Wall Street?
no
To start I know only a little about stocks, bonds, etc.... so books, DVD lectures, CD lectures, and YouTube video recommendations on investing are a plus, got any recommendations?
There is a great "getting started" section in the wiki. See https://www.bogleheads.org/wiki/Getting_started
https://www.bogleheads.org/wiki/Books:_ ... t-up_Books
I’m going to level with you all...
Please. never repeat this phrase again. Whenever I hear/see a phrase like that... I think the opposite. Sorry. Thank you.
I have a love/hate relationship with money. I’m willing to bet I’m the only one in the entire world that feels this way, especially in the investing world where people worship money. I don’t gamble because the house always wins. So I see trading as a more secure way of making money, or is it just gambling too?
No... not gambling.
Don't gamble with money you cannot afford to lose. Investing is not gambling. If investing feels like gambling.... you are doing it wrong. Go back to step 1: education. Read another book.

Investing is buying partial ownership in, (and a partial claim of the value added by,) public companies, across the globe. If you believe that companies can (they do!) add value to the world, then invest. Invest not to get rich, but to claim a share in human goodness and productivity.

Please examine your relationship w/ money. Get help here if needed. Where do these feelings come from? How do they arise? is Fear a factor? is Greed? Jealousy? IMHO: Time to 'get over it'. Being comfortable with money and math is really really important.
It’s true what people say “Do what makes you happy”.
I disagree with that. As a 'rule to live by,' it can result in some BAD conclusions. Heroin can make you happy, over short periods.... but don't do heroin.

Instead..... think! learn to love what you do. CREATE your passion. The old saw: "Find your passion" is BS. MAKE your life your passion. At this very moment.... a miracle is happening. Find it! It is here, now.
My dad hated his job and died an early death because of it. I definitely don’t want that.
So sorry for your loss. Living a life filled with hate is horrible. Don't do that!!! :happy
I don’t think I hate investing because I have never tried it of course. I might turn out to love it, I hope because investing seems like a great way to become a multimillionaire. I have to work crappy jobs just to pay for food. I don’t have enough money left over from paying my student loans, which are massive, to buy anything but food. I do live in a very, very, small apartment with a few other people.

It would really suck if I just got started with penny stocks and investing and I finally start to make some serious money , then guess what happens? The stock market crashes and nobody has any idea why. Maybe it’s because a civil war breaks out against the rich, so the poor start a guerrilla warfare that will make Vietnam look pale in comparison...or something like that. Talk about bad timing. Lucky for me I doubt the stock market will completely shut down, but I certainly don’t want to take a big hit like people did on 9/11 or the 2008 financial crisis. Maybe the 2008 crisis is a sign of even worse things to come, so if the market has a major crises the super-rich won’t lose anything, but I’m willing to bet people like us will lose everything.

Can a bedroom investor become richer than the people on Wall Street if he’s hungry enough? Or is Wall Street the only place to get super-rich? I’m hoping you could get really rich at home, because I am really sick and can only work from home these days. I have no money, I will have to start with penny stocks most likely. I’m broke because of my college loans, which I hope to pay back in full soon after I become a beast in investing, lol.

So where do I begin? I see people investing at home and in the walls of Wall Street with 6 to 8 desktop computers, but I’m not sure you need that many computers to invest do you? I’m starting with one for now, but if I invest good I could buy one and then another, until I have 8 computer desktop screens showing me that black background color with stocks going up and down on the screen in various colors. This leads me to another question what programs to investors use? Obviously I would need a good free investing software to show me whether stocks are going up or down. Since I’m just starting out I will probably day trader.

Any advice, input, guidance to give me?
Thank you so very much for any and all help
It is not about being richer than or hungrier. It doesn't quite work that way. But being motivated, focused, disciplined in earning and saving is important. Earn as much as you can. Save as much as you can. Live below your means. Shop wisely. No.. this thing you might buy is NOT going to really improve your life all that much. Get off the hedonic treadmill. And track your spending. TRACK IT. Move slowly and carefully like a turtle. Don't make snap moves. Don't react to the news and the media and advertisements. NoBODY can predict the future. NOBODY!!!! Don't believe anyone who says they can. The future hasn't happened yet!!!! Time machines are not real! And.... don't invest borrowed money! It can amplify your losses. Avoid DEBT as much as you can. Cut up your credit cards. Be Frugal. Don't try to keep up w/ the Jones. The Jones's are in debt up to their eyeballs.

Where you started is really good... the bit about education.
That is really important.
The books in our getting started book list are REALLY GOOD. Awesome out of the park good. Read several of them! Once you have read enough... it will 'click'. Don't buy them....SAVE YOU FRUGAL GUY SAVE... check the books out from your public library! The library is like having a 100% off coupon at Amazon.
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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by White Coat Investor » Sun Sep 30, 2018 6:18 pm

LiquidSky wrote:
Sun Sep 30, 2018 4:39 pm
Let me ask you guys this first though, has this kind of specialised portfolio investing made anyone here an actual multimillionaire?
Yes. Here's how to get rich:

# 1 Make a lot of money
# 2 Save a big chunk of what you make
# 3 Invest it in some reasonable way
# 4 Insure/protect it well

I came to this forum in 2005. I was not rich at the time. Perhaps a net worth of $10K. I made my first million slowly over the next 8 years or so. I didn't make all that much money, but I saved a lot of it, invested it in the way espoused here, and bought appropriate insurance.

Then I got rich quick. How did I get rich quickly? I refocused on # 1. Still saved a bunch of it. Still invested it in the same old boring way. But I increased my income dramatically.

So my recommendation if you would also like to become wealthy is to learn how to invest properly here, carve as big a chunk of your income as you can and start investing with it, then go figure out how to make a lot of money.

Those guys on Wall Street making a killing are doing it by managing other people's money for a fee. 1-2% of a ton of money is a very good income, and you can become wealthy very quickly with a very good income so long as you don't spend like a crazy fool.
1) Invest you must 2) Time is your friend 3) Impulse is your enemy | 4) Basic arithmetic works 5) Stick to simplicity 6) Stay the course

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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by LiquidSky » Sun Sep 30, 2018 6:22 pm

CaliJim : Just to be clear we’re have I fallen pray to self-deception? I probably have, I just want to know where? Thanks

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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by RadAudit » Sun Sep 30, 2018 6:24 pm

OTOH, instead of trying to become mega-rich you might want to try for enough. (However defined.) Those who try for that goal usually end up more satisfied with the outcome - or, at least that's what I'm told. Mega-rich is an ever retreating goal that's always just out of reach. Enough is something you can calculate with reasonable precision and is usually attainable.
FI is the best revenge. LBYM. Invest the rest. Stay the course. - PS: The Calvary isn't coming, kids. You are on your own.

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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by Sandtrap » Sun Sep 30, 2018 6:31 pm

1. Investing is what you do with money "After". . . you earn, inherit, or obtain it otherwise.
2. The higher and more regular your income stream, the greater chance you have to accumulate wealth, if also #1.
3. The longer the number of years with consistent income, then #2, #1.
4. Typically, the higher and more professional the education and career, then #1-3.
5. If going into business and entrepreneurship of any type (i.e.: R/E investing, business, etc) , then there must be an income stream and funding to get it started and keep it going until it thrives. Thus #1-4.
6. Additionally, the more diversified the income streams, the more likely #1-5.

There are no legal shortcuts with high odds. IE: lottery, crypto, sports, celebrity, etc.

Good luck. :happy
j

ps: what is your definition of "Mega Rich"???
Bill Gates?
Tiger Woods?
10 million net worth?
100 million net worth?
1 bazillion net worth?

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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by LadyGeek » Sun Sep 30, 2018 6:35 pm

I removed some off-topic posts and a reply. As a reminder, see: General Etiquette
We expect this forum to be a place where people can feel comfortable asking questions and where debates and discussions are conducted in civil tones.

...At all times we must conduct ourselves in a respectful manner to other posters.
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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by fortfun » Sun Sep 30, 2018 6:38 pm

LadyGeek wrote:
Sun Sep 30, 2018 6:35 pm
I removed some off-topic posts and a reply. As a reminder, see: General Etiquette
We expect this forum to be a place where people can feel comfortable asking questions and where debates and discussions are conducted in civil tones.

...At all times we must conduct ourselves in a respectful manner to other posters.
Hi LadyGeek. Did you just remove my recommendation to read, "It's Your Money or your life." I don't think that was against policy. Thanks.

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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by CaliJim » Sun Sep 30, 2018 7:04 pm

LiquidSky wrote:
Sun Sep 30, 2018 5:02 pm
I see now that investing is a long, slow process. It’s strange to me though, these investment gurus are always saying how by investing you can make a milllion in a year if your good at it and “ have a god strategy”...are you sure that’s not kind of accurate?
That's just marketing. There are many folks out there who are selling snake oil. There is no investing 'god strategy'. Every time someone invents or 'discovers' a new system, somebody else finds a way to 'front run' it and take all the ez profits out of it. Moving averages don't work. Covered calls, stock picking, etc etc. Passive investing outperforms stock picking 66% of the time. There have been some lucky stock pickers. Buffet comes to mind. Many people have tried to do what buffet has done and not come close. Just do what we do here... earn as much as you can, live below your means, and let slow and steady investments and compound interest do it's magic.

And ... become an ER Doc if that's in your wheelhouse.

I would say that being a strong competitor in the labor market is good. Developing more skills and being more productive than the guys to your left and right will let you command more income..... That's what I did. Kept my head down and worked HARD, took work home, studied on my own, learned new skills, learned Excel. Read a lot, etc. Self improvement!
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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by LadyGeek » Sun Sep 30, 2018 7:13 pm

fortfun wrote:
Sun Sep 30, 2018 6:38 pm
Hi LadyGeek. Did you just remove my recommendation to read, "It's Your Money or your life." I don't think that was against policy. Thanks.
No, I did not remove your post. If you have any further questions, please PM me.

=========
In the mean time, everyone is helping LiquidSky. I have a feeling this may be too much information at one time.

In summary:
  • There is no "get rich quick" scheme. What you see on TV happens to a very, very small minority of investors. The rest of us have to work for a living.
  • You can certainly get rich slowly. The best way is to simply save as much as you can and invest in a "boring" portfolio of 3-funds (or, a single "all-in-one" fund like I mentioned earlier). The sooner you start, the more you'll have for later.
  • Start with this free download: If You Can: How Millennials Can Get Rich Slowly, which explains what everyone is saying in this thread.
  • Then, read Getting started and post your portfolio in this thread as previousl mentioned (Asking Portfolio Questions)
Investing is a life-long skill worth learning that will pay for itself many times over.

Also - This is an investing forum whose members eat this stuff for lunch. We like to talk about investing because it's fun. In reality, you only need to learn a few basic concepts. The rest aren't needed. You'll learn as you go along.

The important point is to focus on what we're telling you in this thread. Everyone's situation is different. What we advise for one member may not apply to you.

If you have any questions, don't hesitate to ask them here.
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.

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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by oldzey » Sun Sep 30, 2018 7:23 pm

Welcome to the forum, LiquidSky!

"Ultimately, there's one investment that supersedes all others: Invest in yourself..." - Warren Buffett

For me, that involved obtaining a formal education and on-the-job experience (not necessarily in that order).

Steve Dunn's remarks are interesting in regards to this discussion, originally found at: http://socialize.morningstar.com/NewSoc ... 62377.aspx
ORDER OF IMPORTANCE IN MANAGING ONE'S FINANCIAL AFFAIRS:

1. How much you earn (the value of your human capital).
2. An intelligent insurance program.
3. Your savings rate.

4. Your allocation to stocks versus bonds.
5. Have a reasonable diversification to your portfolio (anything reasonable will do).
6. Rebalancing to manage risk.
7. Tax management.
8. International versus domestic
9. Value versus growth.
10. Small versus large.
11. Slice and dice.

After number 7, it just doesn't matter much IMO, for about 99% of investors. I say that as one who has watched the numbers pop up on my Quicken computer screen over the passing years. Some things matter a whole lot more than others as to what really influences those numbers.
Note that the top 3 items pertain to the acquisition and protection of assets, before any investing starts (i.e. help with portfolio, tips, etc.).

I'd also add that low costs/expenses of financial instruments should be included in there somewhere, too (maybe #4.5).
"The broker said the stock was 'poised to move.' Silly me, I thought he meant up." ― Randy Thurman

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Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by jibantik » Sun Sep 30, 2018 7:32 pm

LiquidSky wrote:
Sun Sep 30, 2018 5:02 pm
retiredjg wrote:
Sun Sep 30, 2018 4:52 pm
Liquidsky, nobody is talking about your ability or determination. Getting rich quickly happens for VERY few people and for most of them it is being in the right place at the right time. That's called "luck". It has only a little to do with ability, determination, or skill.

If you want to invest, read the links posted. If you want to gamble, you won't find a lot of assistance for that here. This is an investing crowd, not a gambling crowd (although there are several professional gamblers who post from time to time).
I definitely don’t want to gamble, I made that clear in my OP I thought. I’m learning a lot already thank you.

I see now that investing is a long, slow process. It’s strange to me though, these investment gurus are always saying how by investing you can make a milllion in a year if your good at it and “ have a god strategy”...are you sure that’s not kind of accurate?
Yes, I have always wondered why the people who say these things are trying to sell you a book or their program on how to do it. If I had such a program, I certainly wouldn't be telling everyone my secret, nor would I be making pennies to a dollar selling books on it.

JoeRetire
Posts: 1648
Joined: Tue Jan 16, 2018 2:44 pm

Re: Beginner. Want to get mega-rich. Help with portfolio, tips, etc.

Post by JoeRetire » Sun Sep 30, 2018 7:41 pm

LiquidSky wrote:
Sun Sep 30, 2018 4:16 pm
Do you have to have gone to an Ivy League to work on Wall Street?
No.
To start I know only a little about stocks, bonds, etc.... so books, DVD lectures, CD lectures, and YouTube video recommendations on investing are a plus, got any recommendations?
Start by reading more here at Bogleheads.org. You'll find plenty of book recommendations.
I’m going to level with you all...I have a love/hate relationship with money. I’m willing to bet I’m the only one in the entire world that feels this way
You shouldn't bet. Particularly about things you don't understand.
So I see trading as a more secure way of making money, or is it just gambling too?
Since you know nothing about trading, that would be gambling.
I’m hoping you could get really rich at home, because I am really sick and can only work from home these days. I have no money, I will have to start with penny stocks most likely. I’m broke because of my college loans
Investing your way out of being broke is a bad idea.
I’m starting with one for now, but if I invest good I could buy one and then another, until I have 8 computer desktop screens showing me that black background color with stocks going up and down on the screen in various colors.
Yup. If you make money you can purchase more screens. And you can certainly have as many colors as you like - even with just one screen. Colors are free.
This leads me to another question what programs to investors use? Obviously I would need a good free investing software to show me whether stocks are going up or down. Since I’m just starting out I will probably day trader.
Yup, gambling.
Any advice, input, guidance to give me?
Find a real job and career. Day trading isn't it.

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