$10,000 to in Invest. Where should I start?

[rastafarwrite81]

if you don't mind me asking could you tell me how you got into being an adviser? I've worked in banking but never to the point where I had clients

I worked for MetLife Financial services until 2009, then went to work at Chase bank as a licensed banker and was promoted to financial advisor. I'm trying to get to Chase Private Client or their private wealth management lob. Still make great money though

 

[Erdos]

once again, i'll let you choose 10 funds and i will choose 10 funds and i gaurantee i will generate a higher return.

we can do a simulation and we'll post the results on here, you down??

I'm down to do this Just post 10 stocks on here and see which ones do better.

 

[RicanFury]

I'm down to do this Just post 10 stocks on here and see which ones do better.

start a v bookie shyt on this

 

[Marciano]

once again, i'll let you choose 10 funds and i will choose 10 funds and i gaurantee i will generate a higher return.

we can do a simulation and we'll post the results on here, you down??

I suggest ya'll use the simulator over at Investopedia.

....Sites like sharebuilder and e-trade are taking your customers and making people in your profession irrelevant. What would a pay a grip to a financial advisor for when I can just sign up to to sharebuilder, build a custom made portfolio suited to my investment desires for $9.99 a month? .

False, financial advisers are expected to grow in the coming years, look it up.

Back to the threadstarter.....if you get that $60K you'll be in better shape to diversify your portfolio. But if it's only $10K now, make sure you have an emergency fund first & foremost, before investing. The 10K should be disposable income that you can invest in. Even with $10K, I suggest making 1 or 2 moves, I strongly consider consulting with a financial adviser like Rasta & I have been saying

 

[Domingo Halliburton]

I worked for MetLife Financial services until 2009, then went to work at Chase bank as a licensed banker and was promoted to financial advisor. I'm trying to get to Chase Private Client or their private wealth management lob. Still make great money though

See the thing is I've gotten an offer from Northwestern before. Went in and talked to them and they told me only a handful of the people I come in with for training will be there in a year or two. It kind of scared me away. Is it that cut throat?

 

[rastafarwrite81]

See the thing is I've gotten an offer from Northwestern before. Went in and talked to them and they told me only a handful of the people I come in with for training will be there in a year or two. It kind of scared me away. Is it that cut throat?

stay away from insurance companies. very high turnover due to the nature of the job, commission, cold calling, etc


they only want you so you can sell insurance to your friends and family and when u leave they retain the business.

 

[88m3]

stay away from insurance companies. very high turnover due to the nature of the job, commission, cold calling, etc


they only want you so you can sell insurance to your friends and family and when u leave they retain the business.

Would you say the whole insurance business is like that?
That's a pretty grim picture especially the cold calling.

It used to sound like something decent to fall back on.

I guess the people I know who do it are higher up or own their own insurance companies though.

 

[stealthbomber]

[ame]https://www.youtube.com/watch?v=Qid_WGBrQjA[/ame]

 

[Gallo]

As a result of being in a Car Accident in August that I was not at fault for and My wife being a current Insurance Adjuster and me formerly working in Insurance. We were able to win our settlement demand for $30,000 without using an attorney so we get a direct check for it..

I have already paid all of my medical bills using PIP thorugh our own Insurance company so they have all been taken care of

This money also does not include my Jeep which was totaled and I was given $9,700 for so I have already replaced that vechicle.

We still have a UMI claim so chances are we will recieve additonal sum in about a month or so. Possibly another $20,000 but not sure yet.

But I want to invest some of this money and help it grow. I'm willing to put it up for 5-10 years if that would produce nice returns.


I just want to get some feedback from my Coli fam on the best type of investments to make. I'm not looking for anything crazy, I'm pretty conservative money wise but I'm willing to take some small risks...

And No, I'm not trying to move them bricks....

It's good you are saving and investing your money. How to invest your money depends largely on your risk tolerance. If you choose to invest in the stock market, you should be prepared for wild swings in the market. They do happen. You never know when they will happen. It could be next year or a hundred years from now. You will never know. You should be able to tolerate a 50% reduction in the value of your portfolio without bolting for the door. When the markets go down, when people are in a panic, the worst thing you can do is sell. You don’t want to be forced into selling at an inopportune time.

If you are going to invest in stocks, you need to do your homework, because things change, businesses change and the business environment changes over time. You need to know when to sell and when to buy. An investment might be good today but not tomorrow because things change. So for me or anyone else to tell you that you should put your money into a particular stock and walk away would be folly.

If you don't have the knowledge (business, economics & accounting) and don’t want to do the homework (reading, earnings calls, etc.), I would suggest buying exchange traded funds. Exchange traded funds (ETFs) are funds (managed portfolios of equities) that mimic an index of stocks (Standard & Poor's Index, NASDAQ, etc.). Most mutual funds do not do as well as the indexes. So by investing in the indexes you will have beaten most of the mutual funds out there. Investing in the index funds also gives you diversification. You never want to put all of your eggs into one basket, and always invest with a reputable and insured broker. Make sure they are SPIC insured. One more thing, never believe anyone who tries to sell you a guaranteed or a risk free investment. There is no such critter. Below is a listing of some ETF's you might want to consider.

The Standard and Poor's Index ETF has the following ticker: SPY
The NASDAQ Index ETF has the following ticker: QQQ
Gold, ticker: GLD (invests directly in gold)
Real Estate Index ETF: IYR
Biotech: IBB (more volatile)

 

[SuburbanPimp]

I suggest ya'll use the simulator over at Investopedia.



False, financial advisers are expected to grow in the coming years, look it up.

Back to the threadstarter.....if you get that $60K you'll be in better shape to diversify your portfolio. But if it's only $10K now, make sure you have an emergency fund first & foremost, before investing. The 10K should be disposable income that you can invest in. Even with $10K, I suggest making 1 or 2 moves, I strongly consider consulting with a financial adviser like Rasta & I have been saying

Yeah, the majority of it 40k-50k will be put away and untouched. The 10k is for me and of course I could buy a bunch of bullshyt but I would rather invest it and watch it grow. I'm going to be meeting with a Financial Advisor next week so we'll see how that goes.

But there is alot of good information in this thread that is helpful

 

[SuburbanPimp]

It's good you are saving and investing your money. How to invest your money depends largely on your risk tolerance. If you choose to invest in the stock market, you should be prepared for wild swings in the market. They do happen. You never know when they will happen. It could be next year or a hundred years from now. You will never know. You should be able to tolerate a 50% reduction in the value of your portfolio without bolting for the door. When the markets go down, when people are in a panic, the worst thing you can do is sell. You don’t want to be forced into selling at an inopportune time.

If you are going to invest in stocks, you need to do your homework, because things change, businesses change and the business environment changes over time. You need to know when to sell and when to buy. An investment might be good today but not tomorrow because things change. So for me or anyone else to tell you that you should put your money into a particular stock and walk away would be folly.

If you don't have the knowledge (business, economics & accounting) and don’t want to do the homework (reading, earnings calls, etc.), I would suggest buying exchange traded funds. Exchange traded funds (ETFs) are funds (managed portfolios of equities) that mimic an index of stocks (Standard & Poor's Index, NASDAQ, etc.). Most mutual funds do not do as well as the indexes. So by investing in the indexes you will have beaten most of the mutual funds out there. Investing in the index funds also gives you diversification. You never want to put all of your eggs into one basket, and always invest with a reputable and insured broker. Make sure they are SPIC insured. One more thing, never believe anyone who tries to sell you a guaranteed or a risk free investment. There is no such critter. Below is a listing of some ETF's you might want to consider.

The Standard and Poor's Index ETF has the following ticker: SPY
The NASDAQ Index ETF has the following ticker: QQQ
Gold, ticker: GLD (invests directly in gold)
Real Estate Index ETF: IYR
Biotech: IBB (more volatile)

Good shyt bruh

Yeah from everything I've been reading so far it seems like EFTs > Mutual Funds so that may be the way to go right now. I'm also going to look into investing in Gold as well. But I'ma do some research on those EFTs you provided..

 

[TLR Is Mental Poison]

Are financial advisors worth a damn? Me and wifey are thinking about going to see about one.

 

[rastafarwrite81]

Are financial advisors worth a damn? Me and wifey are thinking about going to see about one.

lemme ask you this question, if your sick do you self medicate or do you visit your doctor?

There is your answer

 

[TLR Is Mental Poison]

lemme ask you this question, if your sick do you self medicate or do you visit your doctor?

There is your answer

Eh this analogy is kind of weak. Doctors get sued if they kill or hurt people. You can lose money from a financial advisor's advice and he would say "o well shyt happens"

 

[Marciano]

Are financial advisors worth a damn? Me and wifey are thinking about going to see about one.

How familiar are you & how investments work? If you aren't too familiar, then I'd suggest you'd sit down with an adviser.

When you sit down with one, make sure they have YOUR best interests in hand. If they do more talking than listening, then yes, be a lil suspect. If you tell them what you're looking for, they give some suggestions & you feel comfortable with it, then it's more likely you have somebody who has your best interest in mind.

Financial advisers give themselves a bad name when looking for the highest commission or fees. The referrals are more powerful than one client & one fee. You do great for a client, they will refer you. Now, there will be times you may lose some money, that's the risk you have to take with investing. Just make sure you ask the financial adviser what they did for their clients during the Great Recession.