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JoDa
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Postby JoDa » Fri Feb 28, 2014 10:28 pm

Actually, Vanguard has backed down from the $3K minimum on many accounts. When I started mine 3 years ago, that was the minimum, but it's now $1K for the same funds. Do check, OP, but they have lowered their minimums on many accounts.

I don't see much downside risk for people who start or contribute to ROTHs NOW. They may go away in the future for new accounts or contributions, but it would be a political hot potato to take the benefits away from people who are already invested in them. And if Congress did muster the courage to be so bold, I imagine there'd be at least a transition period where you could roll them into a traditional IRA or 401(k) with some benes. Congress is nothing if not weak, and they'd tick off a WHOLE lot of people yanking the benes of a ROTH AT ALL for people currently invested and AT LEAST without a "preservation of assets" out.
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nismoZtuner
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Postby nismoZtuner » Thu Mar 06, 2014 3:06 pm

does any one recommend any stocks that are doing good. i notice that the big companies have a high value but they dont really go up much.

penny stocks seem to get more since the value is low..
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otter
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Postby otter » Thu Mar 06, 2014 5:20 pm

nismoZtuner wrote:does any one recommend any stocks that are doing good. i notice that the big companies have a high value but they dont really go up much.

penny stocks seem to get more since the value is low..


The biggest thing to understand about stocks is that you are in for the long haul. Most companies don't go from penny stock to Dow Industry average overnight. The S&P annual average growth since 1970 is around 12 1/2%. When you figure that 90% of all stock mutual fund managers fail to beat that- people who have graduate school degrees and do that for a living- it isn't easy!

Penny stocks are penny stocks for a reason... most of them stay penny stocks at best; many of them go bankrupt. Sure, there are a few that do make it big, but they mostly get big by luck and/or excellent timing.

Big companies may be boring, but they typically pay dividends and do have some growth. That;s not to say you can't find the next small company which becomes a mega-stock like Microsoft, Apple or Google. But you should expect to buy and hold for a while before it makes its move.
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JMR
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Postby JMR » Thu Mar 06, 2014 6:15 pm

I agree completely. Making money in stocks you have to be in it for the long term. Can't give up after a bad year. It's hard to fathom but you should dollar cost average and take advantage of the lower prices and buy more stock because throughout the history of the market it tends to go up. Sure, it has slumps. But it mostly finds a way to rebound.
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Postby MrMosby » Thu Mar 06, 2014 7:36 pm

The individual stocks that I've made good money on have all had really good business strategies and I held them long enough to hit a tipping point.

For example Kate Spade (formally Fifth and Pacific) stole tons of business from Coach and slimmed down unneeded business operations and have hit records. Or Netflix, etc etc

If you are buying individual stocks you need to be a believer in their business model and see the opportunity for value/growth at that time, and you hold it until those assumptions no longer hold true.
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otter
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Postby otter » Thu Mar 06, 2014 8:14 pm

Great advice from both JMR and MrMosby...

And one more bit of advice for OP- if you hear someone say "I've got a hot stock for you.." run like hell.

If I say "You should buy ABC, Inc.'s stock!" it's probably not because I want to do you a favor. More likely, I own the stock, realize it's a howling dog and if enough people believe it's a good stock; the price will go up and I can finally sell it for a profit.

If there are stocks about to make a dramatically positive move, by the time the person on the street hears about it- it's usually too late.
In my Wallet:
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  • Sallie Mae MC $8000[1-14]
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  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
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MrMosby
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Postby MrMosby » Thu Mar 06, 2014 8:20 pm

otter wrote:If there are stocks about to make a dramatically positive move, by the time the person on the street hears about it- it's usually too late.


My last comment... invest in what you know. :-)
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JoDa
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Postby JoDa » Fri Mar 07, 2014 11:54 pm

I have some friends who have done very well investing in individual stocks, BUT they spend a whole lot of time researching the companies and planning their strategies. And these aren't "penny stocks," they're ground-floor companies that have great potential COMBINED with solid business plans and other "goodies." If you're not willing to treat investing as a second AT LEAST half-time job, you're best doing broad mutual funds or ETFs. As mentioned, active managers rarely beat the market, and they'll charge you out the patootie for the privilege of earning less.
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nismoZtuner
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Postby nismoZtuner » Tue Mar 11, 2014 6:56 pm

MrMosby wrote:My last comment... invest in what you know. :-)


Like warren once said "invest on what you buy".
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Troublemaker
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Postby Troublemaker » Tue Apr 29, 2014 10:07 pm

Making money in stocks you have to be in it for the long term. Can't give up after a bad year. It's hard to fathom but you should dollar cost average and take advantage of the lower prices and buy more stock because throughout the history of the market it tends to go up. Sure, it has slumps. But it mostly finds a way to rebound.


otter wrote:If there are stocks about to make a dramatically positive move, by the time the person on the street hears about it- it's usually too late.


Very good points.
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