Poll of the Day > Finance/Investing

(+) Yeah! (+)

I think Im at the cusp where I know a lot, and know that I dont actually know enough.

I was semi successful trading options (mostly trading short vol) for awhile, but in my hubris I made some extremely stupid and risky plays which brought me a little below breaking even and I stopped.

I'm a banker so I hope so

Savvy is a bit strong of a word but yeah I feel I'm getting the hang of stock investing.

No lmao

I'm financially fairly well off but I don't really know much about investment strategies, nor do I care. I maintain a decent amount of savings but I regularly put surplus payments on my mortgage to pay down my principal so I don't get absolutely destroyed in a few years when I have to renew at these insane interest rates.

I'd probably do a lot better using that money to invest, but I really don't care that much. I have everything I want and my mortgage will be fully paid someday, likely before my amortization ends.

faramir77 posted...

No lmao

I'm financially fairly well off but I don't really know much about investment strategies, nor do I care. I maintain a decent amount of savings but I regularly put surplus payments on my mortgage to pay down my principal so I don't get absolutely destroyed in a few years when I have to renew at these insane interest rates.

I'd probably do a lot better using that money to invest, but I really don't care that much. I have everything I want and my mortgage will be fully paid someday, likely before my amortization ends.

Having a paid of house is probably one of the best investments.

stonks go up is good haha

This guy again. Wonder if hes gona respond in his own topic this time.

I think anyone who thinks they know how to beat the market with stocks pays the ignorance tax over a long enough period of time. We have men in suits being paid millions to make a 2% return on the year. They make index and mutual funds for the rest of us.

The only way to make a killing in the stock market is by making half-assed "educational" videos on YouTube and padding it with meaningless life advice. Otherwise it's just glorified gambling. Or by following Nacy Pelosi's portfolio.

I think I'm am, but really have a hard time raise capital. If I didn't have bills, etc to pay and had a decent amount of money to invest in various things, I think I would've been at least a Millionaire a long time ago.

pionear posted...

I think I'm am, but really have a hard time raise capital. If I didn't have bills, etc to pay and had a decent amount of money to invest in various things, I think I would've been at least a Millionaire a long time ago.

Open up a retirement account and force yourself to make weekly payments to it.

Even if it's only $30.

hungrymike posted...

Having a paid of house is probably one of the best investments.

Depends entirely what the interest rate is like on your mortgage. If the interest rate is lower than the return you could get by investing the money instead (and likely to stay that way), you're better off making minimum payments and investing the surplus.

Now, saying that, that's purely in terms of the financial bottom line. The peace of mind that comes from not having to pay a mortgage may be worth the difference. That's a personal call, though.

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Nobody. The point is that paying the mortgage off might not be the best investment.

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Yea, I always found the financial advice of "don't pay off your mortgage" to be shaky at best and downright wrong at worst.

Mortgages only really exist because only the stupidly rich people can afford to plop down $250K in cash for a house.

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The comment was "having a house paid off is probably one of the best investments." The extension of that is "paying off your mortgage as quickly as possible is better than making minimum payments and investing any extra money elsewhere," which in turn is only true if your mortgage's interest rate is higher than your expected RoI.

In today's market, that's probably not a very relevant consideration, since mortgage interest rates are currently pretty high and any gains you might make with a different investment approach are going to be pretty small and/or unreliable, but it's still worth considering more generally.

^ and if you have the appropriate money in savings so that if you spend, it doesnt hurt your day to day living

I figure that's a given. Investing every spare cent you own is never a particularly good idea, both for the sake of maintaining financial resiliency and just to be able to have some fun.

Yeah I too agree thats a given. But some folks arent good with their money like that.

moderately but I'm kinda fucked with investment options being an American citizen abroad

No, thankfully, I don't have that much money to waste.

I have a decent amount of savings but I'm not particularly "savvy". I just don't have a "saving money is wasting money" POV, and I don't have any expensive hobbies.

i'll be a millionaire as soon as these monkey nft's break out

I feel like I have a solid grasp of how to invest.