My Father in Law gave me $1000 to buy stock/securities

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theBigWalkowski
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My Father in Law gave me $1000 to buy stock/securities

Post by theBigWalkowski »

What's the best way to put this money into the market? Happy to hear any ideas or suggestions.
miket29
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Re: My Father in Law gave me $1000 to buy stock/securities

Post by miket29 »

how about a few more details. How old are you? Do you have other savings? Are you working? When might you need the money?
delamer
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Re: My Father in Law gave me $1000 to buy stock/securities

Post by delamer »

Are you buying for you or for him?
IRT
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Re: My Father in Law gave me $1000 to buy stock/securities

Post by IRT »

Bogleheads, I'd suggest VTSMX with a $1,000 minimum investment, but is it now closed to new investors?
OP, don't expect many 'hot stock tips' around here. If you want to do some reading, check out Vanguards Retirement Funds. Happy hunting :)
Target2019
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Re: My Father in Law gave me $1000 to buy stock/securities

Post by Target2019 »

theBigWalkowski wrote: Thu Jul 16, 2020 11:52 am What's the best way to put this money into the market? Happy to hear any ideas or suggestions.
Nice first post...someone could write an article from all the replies to come.
:moneybag

I would look for something like Schwab or Fidelity stock slices. Then pick 10 companies in healthcare or technology. Finally, put another 1K aside in case he asks for it back?
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anon_investor
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Re: My Father in Law gave me $1000 to buy stock/securities

Post by anon_investor »

Why not just buy $1k worth of VTI (Vanguard Total Stock Market ETF)?
Swarm Trap
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Re: My Father in Law gave me $1000 to buy stock/securities

Post by Swarm Trap »

As mentioned, more details would be helpful. The title says that he gave it to you, so assume it's your money now. So now the question is, what is your goal? Anyone can gamble away $1k and you don't need the hassle of buying stock to do that. You likely won't find many people here promoting a single stock. If your goal is to start investing because until now, you have not, then I recommend putting that $1000 in your sock drawer and reading as much as you can about how to invest. Your sock drawer is safer than the market if you don't have a plan. I'd recommend starting with the wealth of materials on this site. It's really not all that difficult once you get into it.

If you are already a seasoned investor and are just looking for a spot gamble your play money, I have no good advice to offer. I hope you pick a winning horse. Cheers
Topic Author
theBigWalkowski
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Re: My Father in Law gave me $1000 to buy stock/securities

Post by theBigWalkowski »

I am seasoned and just doing a spot.
alex_686
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Re: My Father in Law gave me $1000 to buy stock/securities

Post by alex_686 »

To extend a bit....

Is this for a emergency fund? Think of something safe.

Seed money to open up a IRA/Roth IRA? Then equity index funds.

Beer Money: A small amount of speculative money so you get familiar with investing. So something more speculative?
Former brokerage operations & mutual fund accountant. I hate risk, which is why I study and embrace it.
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Stinky
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Re: My Father in Law gave me $1000 to buy stock/securities

Post by Stinky »

theBigWalkowski wrote: Thu Jul 16, 2020 1:17 pm I am seasoned and just doing a spot.
Huh?
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mhalley
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Re: My Father in Law gave me $1000 to buy stock/securities

Post by mhalley »

Vtsmx is the investor class which has been discontinued, rolled into the admiral class which is vtsax. (Total stock market index fund).
I would suggest opening an ira and buying a target retirement fund if this money is for retirement. If for a taxable account and to be used greater than five years from now, then vti etf.
Zillions
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Re: My Father in Law gave me $1000 to buy stock/securities

Post by Zillions »

theBigWalkowski wrote: Thu Jul 16, 2020 1:17 pm I am seasoned and just doing a spot.
What is "doing a spot" mean? And if you're seasoned, then why ask?
tibbitts
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Re: My Father in Law gave me $1000 to buy stock/securities

Post by tibbitts »

theBigWalkowski wrote: Thu Jul 16, 2020 1:17 pm I am seasoned and just doing a spot.
???
whereskyle
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Re: My Father in Law gave me $1000 to buy stock/securities

Post by whereskyle »

theBigWalkowski wrote: Thu Jul 16, 2020 11:52 am What's the best way to put this money into the market? Happy to hear any ideas or suggestions.
Put it all in VTI or VT depending on whether you want ex-us exposure.
"I am better off than he is – for he knows nothing and thinks that he knows. I neither know nor think that I know." - Socrates. "Nobody knows nothing." - Jack Bogle
dbr
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Re: My Father in Law gave me $1000 to buy stock/securities

Post by dbr »

In the spirit of being constructive I would offer some options (with some modest food for thought included). I don't care about where this post is coming from as other people read these things as well and might be benefited.

The obvious answer is to open an account a Vanguard, Fidelity, or Schwab and buy a total stock index fund or ETF. The choices might be restricted by not having the minimum investment for some funds.

A different answer is to start investigating corporate America and buy a few shares in a couple or three companies that would be fun to watch. The advantage is getting experience with how stocks behave. The disadvantage is learning the wrong lessons.
pkcrafter
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Re: My Father in Law gave me $1000 to buy stock/securities

Post by pkcrafter »

Walkowski, you really have not provided enough information -- age? working?

One suggestion would be to open a Vanguard target retirement fund because they have $1000 minimum. Choose one of those funds with about 70-80% equity.

https://investor.vanguard.com/mutual-fu ... etirement/#/

How did you find out about this website?

Paul
When times are good, investors tend to forget about risk and focus on opportunity. When times are bad, investors tend to forget about opportunity and focus on risk.
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Misenplace
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Re: My Father in Law gave me $1000 to buy stock/securities

Post by Misenplace »

Several disrespectful posts have been removed. Please do not bite the newcomers. In other words:
"We expect this forum to be a place where people can feel comfortable asking questions and where debates and discussions are conducted in civil tone."
MJS
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Re: My Father in Law gave me $1000 to buy stock/securities

Post by MJS »

Long term, go with a nice simple ... boring ... index fund such as Vanguard Total Stock Market ETF.

The [locally infamous] Buffet-Seides index vs hedge fund bet - https://www.investopedia.com/articles/i ... a-brkb.asp - beautifully demonstrates the long-term value of a diversified & inexpensive portfolio.

Good luck!
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celia
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Re: My Father in Law gave me $1000 to buy stock/securities

Post by celia »

Are there any "rules" or "restrictions" to the money? (Is this a "test" for you?)
Who will pay the tax on the dividends/growth?
Can you put it in a Roth?

This is hard to answer with only $1,000 as most funds have a $3,000 minimum. Maybe it makes sense to add it to a fund(s) you currently own?
A dollar in Roth is worth more than a dollar in a taxable account. A dollar in taxable is worth more than a dollar in a tax-deferred account.
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arcticpineapplecorp.
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Re: My Father in Law gave me $1000 to buy stock/securities

Post by arcticpineapplecorp. »

not enough info. repost according to:
https://www.bogleheads.org/wiki/Asking_ ... _questions
It's "Stay" the course, not Stray the Course. Buy and Hold works. You should really try it sometime. Get a plan: www.bogleheads.org/wiki/Investment_policy_statement
nix4me
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Re: My Father in Law gave me $1000 to buy stock/securities

Post by nix4me »

open brokerage at Fidelity, Schwab or Vanguard and buy VTI shares.
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