Hey, Stock Market Guys?

[texjitter]

So hypothetically speaking: if an individual such as myself (31 years old, median income, married, blah blah blah) wanting to start investing in stocks like Tesla, BTC, Google, etc...where do you begin? Is it still standard practice to just give money to a financial advisor or is the modern approach more of a DIY style? Like are there apps or programs you can use to manage your own portfolio?

I do have a 401k through work but that's the extent of my investment experience. I've spent the last week trying to research a jumping off point but haven't really had anything "click" with me.

Any and all info is appreciated, Thanks!

 

[cgasner1]

Don’t use Robin Hood I start started playing with it in Jan really like my td Ameritrade app also use fidelity since I have a 401k with work there


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[SteepNDeep*]

As a previous poster said, don't use RobinHood after the shady business they pulled earlier in the year.

My advice, unless you really know what you're doing and have the time to research specific companies/stocks, invest in total stock market funds such as VTI.

 

[AZ8]

Set up an account with Vanguard, Fidelity, TD...etc and fund your account. Once your funds have cleared, start trading. Its really pretty easy.

I use Vanguard. I have a regular brokerage account where I trade stocks and a Roth IRA account I contribute monthly for retirement.

 

[ChromeKype]

TD App, and watch YouTube videos. Seriously, made a ton this year.


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[street]

M1 and etrade user here. Very different platforms. M1 is very user friendly for rookies IMO.

 

[Danny Hoey]

I use Robinhood and like it, very user friendly. I also have Think or Swim with TD for my OTC stocks but I don't like the setup at all.

 

[JakeSCH]

I started off with SoFi, really easy app and still have money in it. But money is more "protected" in the bigger names mentioned. Now most of my money is in TD.

For starting off, I like recommending motley fool...just don't buy into all their services but their basic stock adviser. They have a lot of good teachings and stock recommendations. Its a great starting point.

 

[Sccritterkiller]

TD App, and watch YouTube videos. Seriously, made a ton this year.


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Before or after taxes?

 

[SuperDUECE22]

e-trade for 10+ years & formerly robin hood here. But as others have stated stay the hell away from Robinhood. Only reason I joined robin hood was to trade in digital currencies, But when they freeze all your holdings from selling when certain stocks become volatile that is unacceptable !

 

[JakeSCH]

Before or after taxes?

ah taxes are only 30% ish and even less if you hold for a year. Many made 6 figures off the crazy of covid.

 

[wind gypsy]

I would avoid hiring a financial advisor to pick stocks for you. I would only use one if you don't have the time to educate yourself on tax advantages and pros/cons of various investment decisions and vehicles.

I started by reading about index investing. I feel like that is the best place to start for most people. Bogleheads forums is a good place to start learning. This is beneficial in understanding how you want to allocate your 401k and IRA investments as well.

 

[ChromeKype]

ah taxes are only 30% ish and even less if you hold for a year. Many made 6 figures off the crazy of covid.

HODL

Ocugen lol bought at .41 sold at 6.30

So yes made a ton.


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[BoilerBowHunter]

I would recommend TD Ameritrade based off my personal experience. Also, do some research on ETFs and indices like VOO and QQQ. You can get the exposure you are looking for with less risk and really low expense ratios. I also found the book below to be really informative for a beginner. To me there is zero shame in just learning the basics and trying to set yourself up for a long term strategy. May not be as sexy as hitting big on a tech stock, but it is proven to work over time. Boring is good. Diversify and let time do its work through compound interest etc.

A Beginner's Guide to Investing: How to Grow Your Money the Smart and Easy Way https://www.amazon.com/dp/147746399...abc_XP7DE2W0VFVGPF5M22AB?_encoding=UTF8&psc=1

 

[eye_zick]

If you're just getting started, i would personally look into vanguard mutual funds.

Vanguard Investment Products List

investor.vanguard.com

Mutual funds allow small investors to get the benefits of diversity with less money upfront. I certainly dont know as much as many do here, but if you have additional questions feel free to shoot me a pm.

 

[WhatToHunt]

Vanguard (VTSAX) is my go-to. I'd rather invest than gamble, but I guess that makes me a square. Set it and forget it, then adjust as you get closer to retirement. Steer clear of high expense ratios or even worse: fees from people managing other people's money.

 

[LoveBigRacks]

Mutual funds and ETFs are the way to go, but they're boring. Everybody want's to YOLO on Tesla, BTC, etc. but thats only for the adrenaline. Smart money gets into the ETFs and let's them work for years and years.

 

[jmcd22]

So hypothetically speaking: if an individual such as myself (31 years old, median income, married, blah blah blah) wanting to start investing in stocks like Tesla, BTC, Google, etc...where do you begin? Is it still standard practice to just give money to a financial advisor or is the modern approach more of a DIY style? Like are there apps or programs you can use to manage your own portfolio?

I do have a 401k through work but that's the extent of my investment experience. I've spent the last week trying to research a jumping off point but haven't really had anything "click" with me.

Any and all info is appreciated, Thanks!

I am same age, same situation and probably a lot of the blah blah blah as well hahaha! I have a 401k through work but those options are extremely limited. I decided to open a Roth IRA and invest the max into an index that follows the S&P...FXAIX to be exact. It is similar to some of the other funds that have been posted. It is boring and slow but it is relatively safe and will make you money over the long term.

 

[AZ8]

Like I mentioned above, I have 2 accounts within my Vanguard portfolio. One to play in the market, and the other to be serious for retirement.

I have VTI in my Roth IRA retirement account and it makes money while I’m sleeping! No brainer.

Good advice on the mutual/ETF route. Boring, yes, but they have teeth!

 

[LoveBigRacks]

Like I mentioned above, I have 2 accounts within my Vanguard portfolio. One to play in the market, and the other to be serious for retirement.

I have VTI in my Roth IRA retirement account and it makes money while I’m sleeping! No brainer.

Good advice on the mutual/ETF route. Boring, yes, but they have teeth!

SPY is another good one that directly tracks the S&P500.