Boiler Room: The Official Stock Market Discussion

[Deafheaven]

I'm frugal as hell and there's nothing to do during the pandemic.

Post pandemic, that number may change

But I'm hoping to get closer to 100k within the next couple years.

Yeah I know I wont be able to the resist copping some more wheels (used and cash)

Once shyt opens back and these byrds start chirping. Or maybe Ill just move to uptown where all the nightlife within walking distance.

But during winter we on lockdown already and aint shyt to do at all.

 

[manyfaces]

A lot of stuff going on here....20% for 40 years straight is unrealistic especially given people’s investment is likely to be in their 401k and then index stocks.

1250 is also a high barometer - all you stash isn’t likely to just be in brokerage accounts, you need cash savings for emergencies, home/car repair, down payments or weddings, college funds for kids, if you have a 401k, there’s that, then a brokerage...etc

and we do the car thing ad nauseum, if you have free cash and can afford it, do what you like - nice crib, nice car, nice clothes, nice vacations, nice food...everyone has their thing. I’m not into stashing every nut knowing tomorrow isn’t promised. You can’t take it with you, no point of stacking 10M that you only decide to enjoy after 60

be responsible and plan for the future but enjoy your present brehs, it’s all that’s guaranteed

Exactly. Nothing wrong with spending abd enjoying life a little too. The goal ain't to die with the most money or assets, but to live comfortably and enjoy life, and set your children up to be better off then you were if you have kids. I'm getting into this super late, as I might be the oldest one in here, and perhaps starting off with some of the lowest capital, but I don't care. shyt has been and is super educational and my money has been growing nicely since I started chopping it up with y'all. At this point I may not accumulate millions, but my kids will have a hell of a headstart by the time they hit 18-21. In the meantime we're gonna enjoy some trips, fine dining, and everything else that makes life worth living.

You guys are on a great path and at a young age. Don't waste time telling each other what not to spend on to be happy. Just continue educating and supporting each other on the journey to wealth and comfortability, enjoy it, and pay it forward. This has become easily my favorite thread and the most beneficial after 20+ years on here and SOHH. Y'all future wealthy muthafukkas have a Merry Christmas. I'm bout to drink.... more

 

[ahomeplateslugger]

Are you strictly going to resorts?

Nope. I stay at Airbnbs or hotels. I've seen favelas in Mexico and Columbia but other "poor" countries I've been to such as Bangkok looked pretty modernized. I saw a bunch of BMWs, Benz and other European cars driven by local Asians there. Plus from the airport to Bangkok I saw a lot of decent looking condos.

Like I said, I think I might just be disconnected. I think the economy is recovering faster than expected but everyone in TLR says it's in complete shambles and far from recovering.

 

[Serious]

A lot of stuff going on here....20% for 40 years straight is unrealistic especially given people’s investment is likely to be in their 401k and then index stocks.

1250 is also a high barometer - all you stash isn’t likely to just be in brokerage accounts, you need cash savings for emergencies, home/car repair, down payments or weddings, college funds for kids, if you have a 401k, there’s that, then a brokerage...etc

and we do the car thing ad nauseum, if you have free cash and can afford it, do what you like - nice crib, nice car, nice clothes, nice vacations, nice food...everyone has their thing. I’m not into stashing every nut knowing tomorrow isn’t promised. You can’t take it with you, no point of stacking 10M that you only decide to enjoy after 60

be responsible and plan for the future but enjoy your present brehs, it’s all that’s guaranteed

I agree but at the same time I realize a lot shyt is overrated. At this stage in life, I don't need much to get by. I don't have a family / kids yet, so this is a great time to build that cushion, safety net imo.


With that said, i'm frugal not cheap if I see something I like I buy it. If I want to go on a trip or nice dinner, I don't put a limit on it.

Delayed gratification is the name of the game.

Plus I feel as african americans we gotta play a different game of accumulating a surplus of funds, because collectively we are more likely to be affected by economic downturns, experience poverty, support family members, as well as many other stressors.

I can't just relax, when I look around my city and see more people who share my complexion, looking like they're struggling to survive, living check to check or in the streets homeless.

There's no compassion in the world for being poor and black. So I go into overdrive with saving, I've been broke and I ain't going back.

fukk that

If that means I gotta be up 1am securing my future and then so be it.

 

[FabTrey]

A lot of stuff going on here....20% for 40 years straight is unrealistic especially given people’s investment is likely to be in their 401k and then index stocks.

1250 is also a high barometer - all you stash isn’t likely to just be in brokerage accounts, you need cash savings for emergencies, home/car repair, down payments or weddings, college funds for kids, if you have a 401k, there’s that, then a brokerage...etc

and we do the car thing ad nauseum, if you have free cash and can afford it, do what you like - nice crib, nice car, nice clothes, nice vacations, nice food...everyone has their thing. I’m not into stashing every nut knowing tomorrow isn’t promised. You can’t take it with you, no point of stacking 10M that you only decide to enjoy after 60

be responsible and plan for the future but enjoy your present brehs, it’s all that’s guaranteed

i'm not talking about the general public here. i'm talking about nikkas here. 20% is very doable. first, no millennials will ever invest in index funds. if you are still invested in index funds then just don't do it. 8-12% return is not bad, but we can all do better.

and my $ doesn't include 401k/IRA. 401k is completely separate thing to me. that's the least thing you can do. and i don't count them cuz it's a money you don't see.

don't trust nikkas here? then just follow FE! dude's a beast. he's a youtube warren buffet. his track record is insane. he returned over 300%+ this year. so any young nikkas looking to make some serious money, just copy every move FE makes.

 

[FabTrey]

breh

"if you cant invest 1250 a month you have a spending problem"? what the fukk salary is that based on for 25 year olds?

and if you're getting "20 percent a year for 40 years without really trying", then you're the greatest investor in wall street history

like i said before you are talking about fund managers breh. they are different. they deal with billions of dollars. they have to manage other people's money. they are too diversified. they can't just pick 10-12 stocks. they have so many shyt. and their risk tolerance is much lower.

we ain't like that. i got 8 stocks in my fidelity. 5 of them are very young growth stocks.


Look at FE who shows everyone all his moves.

300k in July 2019



now his account is easily over 1mil.


yes, TSLA helped him alot, but look at all of his other picks. most of them were beasts except CCL. he has a 10 years of great returns. and he is very transparent with his moves.

there will be a bad year where we return next to nothing. but there will be explosive year like 2020 to bump up the average.

 

[dora_da_destroyer]

I agree but at the same time I realize a lot shyt is overrated. At this stage in life, I don't need much to get by. I don't have a family / kids yet, so this is a great time to build that cushion, safety net imo.


With that said, i'm frugal not cheap if I see something I like I buy it. If I want to go on a trip or nice dinner, I don't put a limit on it.

Delayed gratification is the name of the game.

Plus I feel as african americans we gotta play a different game of accumulating a surplus of funds, because collectively we are more likely to be affected by economic downturns, experience poverty, support family members, as well as many other stressors.

I can't just relax, when I look around my city and see more people who share my complexion, looking like they're struggling to survive, living check to check or in the streets homeless.

There's no compassion in the world for being poor and black. So I go into overdrive with saving, I've been broke and I ain't going back.

fukk that

If that means I gotta be up 1am securing my future and then so be it.

AfAms live shorter lives and then add to it most of our people are generally struggling, I feel people who have the means should enjoy their money if they’re taking care of business elsewhere

best lesson I ever got from an OG church lady - enjoy your blessings, they were gifted to you.

 

[dora_da_destroyer]

i'm not talking about the general public here. i'm talking about nikkas here. 20% is very doable. first, no millennials will ever invest in index funds. if you are still invested in index funds then just don't do it. 8-12% return is not bad, but we can all do better.

and my $ doesn't include 401k/IRA. 401k is completely separate thing to me. that's the least thing you can do. and i don't count them cuz it's a money you don't see.

don't trust nikkas here? then just follow FE! dude's a beast. he's a youtube warren buffet. his track record is insane. he returned over 300%+ this year. so any young nikkas looking to make some serious money, just copy every move FE makes.

Does he have a track record before this year? If he’s gotten 100% for more than five years, then ok

Like I said, most people saving 1250 a month - that’s going to be 401k, savings and anything else. Sometimes I think this thread gets distorted by those really caking.

lastly, tons of millennials still holding voo, vti, spy, qqq, etc. index funds still have a place in an investment portfolio

 

[Serious]

AfAms live shorter lives and then add to it most of our people are generally struggling, I feel people who have the means should enjoy their money if they’re taking care of business elsewhere

best lesson I ever got from an OG church lady - enjoy your blessings, they were gifted to you.

and The best lesson I learned is that happiness comes from within.....

I like process more so then the outcome.

Just like when I was in the gym hard core, the days I hit my "goals" , were also my saddest and most depressed days. I enjoyed building up to that point, more so then looking / being fit.

I've seen people with every material possession at their disposal be unhappy, internally miserable af and lonely.

And I've been South Africa, in shanty towns, around people living in absolute poverty with full smiles you couldn't photoshop from just seeing African Americans. This is what taught me be humble and made me realize i don't need much to get by.

 

[FabTrey]

Does he have a track record before this year? If he’s gotten 100% for more than five years, then ok

Like I said, most people saving 1250 a month - that’s going to be 401k, savings and anything else. Sometimes I think this thread gets distorted by those really caking.

lastly, tons of millennials still holding voo, vti, spy, qqq, etc. index funds still have a place in an investment portfolio

he had 91% return in 2019. and there was a video in the past where he talked about his previous returns and i think it was like 30% yearly return. but obviously past 2 years he had some serious returns. so if i have to guess he past 5 year average would be 50-60% return conservatively. that's why he was able to grow his public account so quickly. he got like 4 million in stocks and he started like 2009 from nothing.

for me index is for 401k - one of those accounts where you don't have many choices. i consider it an insurance. i used to be a bogle head breh 3 funds portfolio all the way. that's how i started investing. 5 years of 401k and 6-15% return. it's good, but now that i experienced TSLA i don't think i'll ever go back to index. many robinhood nikkas feel the same way.

looking back instead of 401k i should've invested in AMZN and APPL instead.

 

[Saysumthinfunnymike]

Not to be a downer or anything, I love Tesla but it's rate of growth in the market could slow down some. F.E. has discussed this.. 600% in a year is crazy growth. F.E. has stated several times that he thinks Tesla will be one of the biggest market caps out there but from this point forward there could be a year or two of consolidating..

I bring this up only because I didn't want to go all in on Tesla for that reason. If you just hold it you're obviously going to do very well..

... but I feel I can hold Tesla shares but also continue to pick other winners. I don't want my entire portfolio to hinge on one stock. But that's me. I get why others want to do it.

 

[ahomeplateslugger]

What you save should be relative to what you make. Someone making 36k a year most likely can't afford to save 1,250 a month unless they're living at home and not paying much or living in the hood with dirt cheap rent. I suggest ppl aim for a %. When I was making $16/hr I was only able to save $200 a month because the cheapest rent I found in the Bay area was $900 and that was damn near 50% of my monthly income.

I always tell ppl live within your means because at the end of the day it's not how much you make, it's how much you spend.

 

[FabTrey]

Not to be a downer or anything, I love Tesla but it's rate of growth in the market could slow down some. F.E. has discussed this.. 600% in a year is crazy growth. F.E. has stated several times that he thinks Tesla will be one of the biggest market caps out there but from this point forward there could be a year or two of consolidating..

I bring this up only because I didn't want to go all in on Tesla for that reason. If you just hold it you're obviously going to do very well..

... but I feel I can hold Tesla shares but also continue to pick other winners. I don't want my entire portfolio to hinge on one stock. But that's me. I get why others want to do it.

with a right execution Tesla could be a 4 trillion dollar market cap by 2030. sounds like it's alot, but that's not even 7X from this point. there are so many 10x potential out there. so most likely i won't be pouring any new money into TSLA into my fidelity.

i will hold TSLA long term, but i'm ready to find my next TSLA.

 

[FabTrey]

What you save should be relative to what you make. Someone making 36k a year most likely can't afford to save 1,250 a month unless they're living at home and not paying much or living in the hood with dirt cheap rent. I suggest ppl aim for a %. When I was making $16/hr I was only able to save $200 a month because the cheapest rent I found in the Bay area was $900 and that was damn near 50% of my monthly income.

I always tell ppl live within your means because at the end of the day it's not how much you make, it's how much you spend.

wise words breh. it's always about how much you keep.


chris hogan my nikka got some great contents.



good old dave ramsey is great too

if someone is making only 36k he better live in Texas. at least cost of living is cheap and there's no state taxes.

hell just live with parents. there's no shame in that.

 

[ahomeplateslugger]

wise words breh. it's always about how much you keep.


chris hogan my nikka got some great contents.



good old dave ramsey is great too

if someone is making only 36k he better live in Texas. at least cost of living is cheap and there's no state taxes.

hell just live with parents. there's no shame in that.

100% agree. I would've stayed with my mom but had to move out even tho I was making 32k a year. My brother was living with my mom too and was on some hardcore drugs so I needed to get away to get a peace of mind. It made me better with my money so it all worked out.