Getbig Millionaires Advice on how to invest

[tbombz]

unless youve got some inside information on stocks.. then you should just ivest your money into valuable items like original paintings, classic furniture, pieces of art and history and all types of things that will always increase in value, not just relative but quantitatve as well...     

[bigdumbbell]

buy brick slums  slap a roof on it; install a few hot water heaters....update windows, fixtures appliances   good to go

[Alex23]

401k is/was designed to be a supplemental retirement plan that most people ended up using 100% for retirement.  It is like eating only multivitamins and no food.
Trusting some high school graduate to manage you money is a shame.  Put a small percentage of your money into a 401k and invest the rest on your own.

No offense chief but you're far off..  everyone should max their 401k contribution if they can before "investing" on their own with aftertax monies.. 101 stuff... unless they can beat the tax break it gives you (unlikely) and also get the match that most big employers provide..

[Emmortal]

If you don't know much about the market the best advice you'll ever get is: stay the fuck away from it.  Long term investments in commodities is about the only thing I'd consider along with a solid maxed out 401k and IRA of your choice.

Speak to several (i.e. not one) financial advisers and get their opinions.

[bigdumbbell]

all you really need is one good big drug deal

[tbombz]

emmortal and alex both right about 401k..   diversify your bonds, ni gg a!! investments 101..   make sure to keep your money even with inflation and the growth of the economy...    but thats just it..  it is still attached to the ecnopmy...   buy aNormal rockwell original painting and that bitch will always be worth what you paid, and more, no matter what happens to the economy

[Alex23]

emmortal and alex both right about 401k..   diversify your bonds, ni gg a!! investments 101..   make sure to keep your money even with inflation and the growth of the economy...    but thats just it..  it is still attached to the ecnopmy...   buy aNormal rockwell original painting and that bitch will always be worth what you paid, and more, no matter what happens to the economy

LOL Wu tang 101

[tbombz]

[bigdumbbell]

emmortal and alex both right about 401k..   diversify your bonds, ni gg a!! investments 101..   make sure to keep your money even with inflation and the growth of the economy...    but thats just it..  it is still attached to the ecnopmy...   buy aNormal rockwell original painting and that bitch will always be worth what you paid, and more, no matter what happens to the economy

or an early Grandma Moses

[RAZA-BLADE]

Ok next question.  What is the best vehicle for saving for a large purchase (ie home later on down the road)?

[leadhead]

Ok next question.  What is the best vehicle for saving for a large purchase (ie home later on down the road)?

A dependable one that you don't owe anything on...

[XFACTOR]

Renting instead of buying can pay off.  I pay in rent less than one would pay for a moderate home in disposibles per month (ie. interest, insurance, maintenance, gas bills, electric bills, taxes, etc.)  The amount that home owner actually puts on the house principle per month, I will be investing and growing at a better rate then the house will be gaining value per year.

Not really about saving a buck or two a month.  What about quality of life in owning a home? Making it look the way you want, live in it how you want to live etc....

Investing is important, quality of life is more important

[The Showstoppa]

If you want to learn a bit, but not invest a ton at this point, I suggest doing some online buying/trading.  Tons of good ones and you can get an education.  I have used options express.....probably better ones out there, but it meets my needs.  I got in when the market tanked around election time and have did fairly well....really just wanted to learn more and it's been great in that respect.

[RAZA-BLADE]

Not really about saving a buck or two a month.  What about quality of life in owning a home? Making it look the way you want, live in it how you want to live etc....

Investing is important, quality of life is more important

Opinion of one white man.  I already expressed I'm happy with where I am.  My apartment is great.  My wife is happy, I travel 50 percent of the time and don't want to be doing yard work on my weekends when I could be deadlifting and bench pressing.  My quality of life in owning a home wouldn't change for my situation.

[noworries]

Opinion of one white man.  I already expressed I'm happy with where I am.  My apartment is great.  My wife is happy, I travel 50 percent of the time and don't want to be doing yard work on my weekends when I could be deadlifting and bench pressing.  My quality of life in owning a home wouldn't change for my situation.

Dude nothing wrong with renting.  I have never owned a house in my life.  I have always rented and I have done pretty good for myself.  The main reason why I never bought before when I had money was because I traveled so much and moved.  I just never really thought it was priority.  My quality of life was great and was everything else.  Now I kind of think if I did own a house where would I be.  I think because of the past several years not being to make the money like I used to I probably would have lost it. renting has it's advantages as does owning.  Owning is far better on the long run because sooner or later the market will go up.  It is just the time like now that it is hard.  Rent is so cheap everywhere right now as is property prices.  I was paying $1800 a month rent for my two bedroom condo in Honolulu.  34th floor overlooking the water and a view from Diamond Head to Waianae with every luxury amenities you can think of including bowling alleys, 5,000 sq ft. gym, racquetball, spa, dry and steam saunas, tennis courts, huge pool and jacuzzi........EVERYTHIN G.  To own a house with that kind of stuff would cost in millions in Hawaii.  So renting was fine with me.

[jwb]

invest in yourself/your vocation/a business.

most people who are self made and worth 5-15mill earn around 700k per year and it's either from being a smart doctor/lawyer who doesn't blow through their cash or a smart business owner.

[mogulgangi]

For those millionaires out there, I need advice.  I am currently married and living in a moderate apartment paying rent.  We have no plans to have children, and feel no need to purchase a large home and are considering renting as long as possible as we can save and invest much more this way.  Our focus up to this point has been to invest agressively in my 401K, but now that we have no debt at all, I want to invest outside of the 401k.  I am a Canadian living in the US, so I don't know a whole lot about investing here.  Our goal is to reach retirement as young as possible, but I know its not smart to have all your eggs in one basket.  I have read about a roth IRA, and am familiar with mutual funds.  Is there anything you could suggest as to the best way to invest.

Bodybuilding related in that, when I retire I will be focusing on entering the masters Olympia. lol

401ks= getting taxed like hell by the gov...

DIVERSIFICATION

Whole life insurance..tax free annuities..mutual funds....

[Tito24]

401ks= getting taxed like hell by the gov...

DIVERSIFICATION

Whole life insurance..tax free annuities..mutual funds....

I guess you sell whole life policies....

[noworries]

Best investment for the young guys.  Invest in your health while you are young.  i know for a fact I would be way worse than I am if I did not take care of myself growing up.  All the shit that is wrong with me my organs are fine.  This last stay in the hospital they gave me so many tests to see if they could find anything wrong and I passsed with flying colors.  As fat and out of shape as I am my heart, liver, kidneys and every other major organ is is excellent condition.  I have spent the better part of the last 10 years looking like shit but I spent the majority of 40+ years of living healthy.  If not then the things that have happened to me over the past several years would have done alot worse to my body than it has.  Hell I have no joint pain except a little in my right ankle.  No shoulder or knee problems whatsoever.  No, muscle pains except my lower back from an injury I had in 1983.  So invest in your body and when you get older you will be able to enjoy your life better.  How is that for fatherly advice

[Alex23]

If you want to learn a bit, but not invest a ton at this point, I suggest doing some online buying/trading.  Tons of good ones and you can get an education.  I have used options express.....probably better ones out there, but it meets my needs.  I got in when the market tanked around election time and have did fairly well....really just wanted to learn more and it's been great in that respect.

X2. That's how I got my protege started. OptionsExpress is very complete and easy... if you're chicken or don't have the funds, www.investopedia.com is another idea... just become a waste time and very frustrating if u do real well

[delon]

Take my advices- investing is cyclical- spotting trends and getting in and out at the right times are the name of the game.  As a 25-35 y.o. male, you're in a prime position to identify the cool, new trends that are sure to be money makers down the line.  More than those 40+, who lack any idea of what's cool...

For examples:

Netflix is a genius idea- a whole new model for renting movies- that is now snowballing into a way to stream next to anything, for next to nothing, for the consumer AND for the company.  Stock is up HUGE in the last 24 months, far outpacing the industry and index, and will likely double again by the end of the year...  Get in now.

Ford is a company that I made a 338% return on in less than 12 months last year.  Bought around $2.30 a share and sold just shy of $8.00 around when GM went bankrupt and everybody got "iffy" on them making it.  Thought I'd wait till the stock hit $10, when it will enter the stock screeners of a wider array of investors, then get back into it- but positive sales hadn't occurred, and that was a priority for my "risk threshold".  Now, sales ARE positive, the products are much more competitive (or "way cooler"), and the top competitor Toyota is down due to the whole recall thing...  Good time to buy.

A couple more recent buys: 
Sirius Radio (Stern is staying, car sales are going up, there is NO competition)
Live Nation (merged with ticketmaster, no competition)

Get a Scottrade account and for a $500 minimum investment you can get $7. trades and all the investment info, analysis, and screeners that you'll ever need.

Personally not a big stock picker - indexing is easier and has better returns for the most part - but given the recent resurgence in the Bitcoin thread and price (congrats to those who have done well with it) its interesting to take a look back at some previous threads and comments, for eg:

Wherever 'Trav' is now after his short-lived getbig career, he was on the money with his Netflix headline pick back in 2010:

NETFLIX
Closing Price:
May 19, 2010:  14.37
March 6, 2024:   597.69
4,059% increase


Live Nation wasnt a bad one either (12.80 to 99.19) albeit ballpark NASDAQ % gains

[oldtimer1]

Renting is throwing your money away unless you live in a shit hole apartment complex. Look at a graph of houses for 30 years. They have dips in value but they all go up high.  Then when the house is paid off you have a ton of money if you sell. Paying a mortgage if you do it right is the same as paying rent. My house has tripled in value in 20 years. I will have it paid off in a year. I considered downsizing but why would I spend boat load of money on a smaller house when I can live in this big house for free? 

Consider paying off the principle in advance. To understand the concept for those out of the loop I will explain. Let's say you have a 30 year fixed mortgage. That's 360 payments. For sake of explanation let's say your monthly bank mortgage payment is $1000 a month. On payment one $950 will be an interest payment to the bank and just $50 will be paying off the loan. Every month the ratio will change slightly so less will go to interest and more will go to paying off the loan. On payment 360 it will look something like this. $950 of your monthly payment will go toward paying off the loan and $50 will be for interest payment. As you can see you will pay back a sick amount over what you borrowed and that's how the banks make money. How can you change that? First make sure there is no prepayment penalty.  You will make a check toward your monthly payment for the amount required. Then a second check marked for to be used to pay off the principal.  So say you give the bank an extra $500 a month. This will cheat the bank out of their profit by advancing you down the amortization schedule so more and more of your payments will be directed toward paying off the loan. The first thing you should do with a mortgage is to get an amortization schedule. I know those that think they are investment wizards will say I can make more money investing in stocks and such with that extra payment. Just realize it's a gamble. Stocks can be sky high for 15 years then crash. They go up and down. They are really high now but that can change. You have a guaranteed investment with paying off your mortgage in advance. You can actually make a 30 year mortgage into a 17 year mortgage with the right planning. You can also make a 15 year mortgage a 12 year mortgage with the right planning. 

[Gym Rat]

Fuck renting. Making someone else rich, paying off their properties.
I bought this place 19 years ago, I paid it off in 9 (a decade ago). Value doubled.
When I sell it will be a nice piece of retirement change...

[Rambone]

You listen here you cowardly Canadian. You are a guest in our country and we don't need anymore renters, leave that to the Beaners who live 15 in an apartment. Now is a good time to buy a house.

Advice the cowardly Canadian should’ve heeded

[Darren Avey]

Go back to Canada and be ruled over by that king of the cucks