Boiler Room: The Official Stock Market Discussion

[Rickdogg44]

Merry Christmas all

Merry Christmas! Thanks to everyone for their input and views. I hope to contribute as I gain more experience.

 

[ExodusNirvana]

I saved a lot more this year because I was working from home. I also tried to cook a lot more and did. I bought a lot of things I needed but low key now that I have these things, I'm pretty content.

The most I regret is not being able to travel because I can finally afford to do it, but I estimate that by the time I get this vaccine, I'll have a solid 7 weeks of vacation since I haven't gone anywhere or done anything.

This year made me realize that I could save a lot more money AND make a lot more in returns by making smart plays with my portfolio.

I hope the next 4-5 years are consistent with the way the market has been going in the last 10 because if so, I think I'll be able to make a lot of money, have even more capital for investment and be able to live comfortably as I get older.

To those of you who have kids and are able to do this shyt? You're either Champions or got a real one backing you up...or shyt maybe both

 

[Reign X]

I’m the exception to most, never had a problem saving money. Not enjoying it enough was probably more of an issue. Started individual stock investments this year and trying to enjoy the profits just a bit. Bought myself a phone, and a tv for someone. Phone wasn’t brand new and tv wasn’t big, lol but I’ll always be cheap. And I can’t buy a new car, the depreciation is too much. Just building my cash position for any downturn.

 

[winb83]

When you are use to living paycheck to paycheck having more money won't change your relationship and thoughts about money.

I never thought that I would be able to save $1,000 a month until I did it.

A book called Debt-Free by 30: Practical Advice for the Young, Broke and Upwardly Mobile, changed my life.

In one month I went from using my credit card to saving $1,000 per month. After 18 months I had saved $20,000,and paid off $8,000 in credit card debt. At the time (2004), I was making $60,000 living in Champaign, IL.

The best thing about the book was it showed you how to still spend money on the things you enjoy, but ruthlessly cut out the things you don't enjoy. It really was practical advice. Too many of the experts ask you do some some unrealistic stuff.

The most important thing I did that first month was to write down every time I spent money. I kept a small notebook in my back pocket, and as soon as I spent money, I wrote it down. That extra step made me think about every time I spent. After doing this for two months, I established a weekly budget that still let me enjoy life, but save, too.

To this day, I still go to the ATM on Monday and take out my weekly discretionary money. It definitely keeps me disciplined.

I still don't write down what I spend. I've tried and it's too tedious. I automate most of my finances. 4 accounts for different purposes and a portion of the check is direct deposited to each. I usually try to keep a check to a half a check of spending money in 2 of my checking accounts. My new thing is every week in my SoFi checking add $10 to the savings vault.

My next move is to wipe out this nagging now $3.5K in credit card debt without going into my savings. About $2.3K of it is 0% interest that comes due starting May 2021.

 

[FabTrey]

Merry Christmas to my coli nikka. May the good Lord bless everyone of you financially. Stay safe nikkas.

 

[FabTrey]

Even 5 years is nothing. The market has been spiking for close to 10 years now outside of March this year which most people just saw as a buying opportunity. This would be a very interesting thread if the market trended downwards for 12+ months straight.

When you buy a stock dirt cheap, it really don't matter if the market tanks or not. Growth stocks grows eventually because they have strong foundation and many future catalysts. A true winner is the one who can withstand the blow. And those heavy blows will come.

FE started with nothing and now he has 4mil in stocks. It's impressive. He's been in the market for 12 years, so the experience helps. I'm sure he failed a lot early on.

rich will just get richer no matter what happens to the market.

 

[winb83]

When you buy a stock dirt cheap, it really don't matter if the market tanks or not. Growth stocks grows eventually because they have strong foundation and many future catalysts. A true winner is the one who can withstand the blow. And those heavy blows will come.

FE started with nothing and now he has 4mil in stocks. It's impressive. He's been in the market for 12 years, so the experience helps. I'm sure he failed a lot early on.

rich will just get richer no matter what happens to the market.

FE has his YouTube channel and private group that give him a large income off the top. I'm not saying he's not good at what he does but if you or I had his income with our current states of mind we'd be a multi-millionaires too. Unlike him though I'd probably still live in the same modest place I live now and drive the same car. At the very most I'd pay off my car and have a single house I lived in that's under $200K and any other property I get would be to rent out.

If you give someone with decent financial sense a high income they're gonna come out ahead. If you give a fool a high income they'll just increase their spending to match. In FE's case he had good financial sense and when his income increased he flourished. There's plenty of people that could have his same income level and live paycheck to paycheck.

 

[K-Deini]

fukk these people on stocktwits shytting on pacb technology saying BNGO is better? A .70 cent stock, fukk is going on?

 

[Scholar]

fukk these people on stocktwits shytting on pacb technology saying BNGO is better? A .70 cent stock, fukk is going on?

Idiots trying to pump

 

[Reign X]

fukk these people on stocktwits shytting on pacb technology saying BNGO is better? A .70 cent stock, fukk is going on?

let me know when ark buys some. If they buy a lot, over a period of time, I’ll take it seriously and buy a bit.

 

[FabTrey]

FE has his YouTube channel and private group that give him a large income off the top. I'm not saying he's not good at what he does but if you or I had his income with our current states of mind we'd be a multi-millionaires too. Unlike him though I'd probably still live in the same modest place I live now and drive the same car. At the very most I'd pay off my car and have a single house I lived in that's under $200K and any other property I get would be to rent out.

If you give someone with decent financial sense a high income they're gonna come out ahead. If you give a fool a high income they'll just increase their spending to match. In FE's case he had good financial sense and when his income increased he flourished. There's plenty of people that could have his same income level and live paycheck to paycheck.

That's true, but even before shyt took off he still got to 1mil. That's still very impressive. And he has 90% hit rate and that's godly to me.

 

[FabTrey]

fukk these people on stocktwits shytting on pacb technology saying BNGO is better? A .70 cent stock, fukk is going on?

Stocktwits has so much fake pumpers and shorts. It's so toxic. Glad i don't go there anymore.

 

[FabTrey]

When you are use to living paycheck to paycheck having more money won't change your relationship and thoughts about money.

I never thought that I would be able to save $1,000 a month until I did it.

A book called Debt-Free by 30: Practical Advice for the Young, Broke and Upwardly Mobile, changed my life.

In one month I went from using my credit card to saving $1,000 per month. After 18 months I had saved $20,000,and paid off $8,000 in credit card debt. At the time (2004), I was making $60,000 living in Champaign, IL.

The best thing about the book was it showed you how to still spend money on the things you enjoy, but ruthlessly cut out the things you don't enjoy. It really was practical advice. Too many of the experts ask you do some some unrealistic stuff.

The most important thing I did that first month was to write down every time I spent money. I kept a small notebook in my back pocket, and as soon as I spent money, I wrote it down. That extra step made me think about every time I spent. After doing this for two months, I established a weekly budget that still let me enjoy life, but save, too.

To this day, I still go to the ATM on Monday and take out my weekly discretionary money. It definitely keeps me disciplined.

damn that's impressive breh.

i don't write down anything. what i do is i have multiple checking and savings accounts and each have a specific purpose. so it's alot easier for me to stay organized and disciplined. and then i use my credit cards to buy things so i can get my 3% cash back.

when i was broke and young i just used credit cards like there's is no tomorrow. credit card companies were evil back then. giving a broke ass college nikka a credit card with $5000 credit line? shyt was intentional. i ended up maxing out all my 8 credit cards.

yes, i was that stupid ass nikka.

 

[KalKal]

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.

Its unrealistic to say its easy to average 20% per year, EVERY year, for decades. You can do 20% per year for 5 years in a row, sure. But average that for 15+years in a row?
Remember that there are always boom and bust cycles. And if you get hit bad enough to literally go back down to 0, doesn't matter if you can go up 40% the next year because you're starting over from $0. So you better have enough stored up to survive a crash, but playing it that safe doesn't make it a "no brainer" to get 20% per year.

 

[winb83]

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.

You can't have been in the market that long if you're seeing the returns over the last several years and gassed to think that averaging a 20% return rate long term is doable. I'll admit that if he points out a company and I like it I'll invest in it but I'm not just copying the guy's moves. Fundamentally I'm a dividend investor and he's not. If you're just looking to go on auto-pilot and let someone else do all the work and just copy moves this is probably gonna blow up in your face. When shyt hits the fan if you're just copying moves and don't have conviction in the company you're gonna end up bailing.