OT: Investing - Stocks/Mutual Funds/Bonds/Crypto

[ReginaldDwight]

Yeah saving for a house you can't afford to lose anything so I'd definitely stay very very conservative. You won't earn much but you won't lose any.

Yeah we cant afford to buy here right now, NYC metro area but our goal is to buy a home in a different part of the country in that 5 to 6 year window.

[HaroldinGMinor]

Yeah saving for a house you can't afford to lose anything so I'd definitely stay very very conservative. You won't earn much but you won't lose any.

Yeah we cant afford to buy here right now, NYC metro area but our goal is to buy a home in a different part of the country in that 5 to 6 year window.

Yeah I would say money market. If you can put a fixed dollar amount from every paycheck in there. Another option is Acorns which is an app that rounds up every transaction and deposits it each week. Fees are a lot higher for that one though (it's like $1 a month).

[ReginaldDwight]

Yeah saving for a house you can't afford to lose anything so I'd definitely stay very very conservative. You won't earn much but you won't lose any.

Yeah we cant afford to buy here right now, NYC metro area but our goal is to buy a home in a different part of the country in that 5 to 6 year window.

Yeah I would say money market. If you can put a fixed dollar amount from every paycheck in there. Another option is Acorns which is an app that rounds up every transaction and deposits it each week. Fees are a lot higher for that one though (it's like $1 a month).

Yeah I think something we can add to monthly is what we are looking for, just trying to grow it bit more. Intrigued by stocks but that might be a bit risky but I think its a chance we might be willing to take.

[Zeezprah]

personally, i wouldn't put a ton into the market if you're looking to buy within the next 5 years. like midranger said, CDs are probably your best bet.

if you wanted, you could probably put a good amount in the stock market this coming year, as most agree the bull market is staying with the tax breaks alone, but i wouldn't stay in too long.

down payments are just kind of one of those frustrating things. you obviously want to invest/do something with the heap of money sitting there, but you really should be fairly conservative with it.

also, i don't know what area of the country you're looking to buy in, but really pay attention to that real estate market too. the east/west coasts can fluctuate a ton with what the overall economy is doing, whereas the midwest tends to be more rigid. having boring cash on hand when everyone is looking to sell is never a bad thing.

[Finn]

So we are looking at saving for a home down payment in probably 5 to 6 years, anyone have some good tips for how to grow that money a bit outside of putting it into a savings?

Depending on how much you currently put towards retirement and your current income, probably the 'safest/easiest' without an economic downturn is putting it in a Roth IRA - you can remove contributions.
Regular 401K you can remove 10k without penalty (You still pay the taxes you would normally)

Of course, if you are already maxing both those out, you are just stealing from your own retirement and need to look into other things.

Just to clarify this point - you can indeed take out your contributions penalty free before you turn 59 but you cannot take out any earnings w/o paying taxes & penalties. Wanted to make sure that was clear.

[ReginaldDwight]

personally, i wouldn't put a ton into the market if you're looking to buy within the next 5 years. like midranger said, CDs are probably your best bet.

if you wanted, you could probably put a good amount in the stock market this coming year, as most agree the bull market is staying with the tax breaks alone, but i wouldn't stay in too long.

down payments are just kind of one of those frustrating things. you obviously want to invest/do something with the heap of money sitting there, but you really should be fairly conservative with it.

also, i don't know what area of the country you're looking to buy in, but really pay attention to that real estate market too. the east/west coasts can fluctuate a ton with what the overall economy is doing, whereas the midwest tends to be more rigid. having boring cash on hand when everyone is looking to sell is never a bad thing.

Coast most likely. Thats the big problem if we still lived in Milwaukee we would have a house already, but any area we want to live in out here near NYC is just insane.

[M-C-G]

Looking at some of these Marijuana stocks, feels like quite a few opportunities to buy at $10 or lower and hope for a boom.

Anyone more knowledgeable on this?

https://www.fool.com/investing/2017/12/03/5-top-cannabis-stocks-to-consider-buying-now.aspx

https://www.investopedia.com/investing/10-canadian-marijuana-stocks/

[midranger]

[quote="M-C-G"]

Anyone more knowledgeable on this?[/quote]

Yes. Probably the guy selling you the stock at any given price. All the American weed stocks you ever want are in a Total Market Index Fund. Along with every other stock. And it costs you 0.04% per year.

Keep it simple guys.

[skones]

interesting topic - competing currencies are a good thing but I would be very careful investing in something with zero intrinsic value, and that governments could decide to outlaw or at least make hard to use.

This is why Ripple is what you want.

[M-C-G]

Anyone more knowledgeable on this?

Yes. Probably the guy selling you the stock at any given price. All the American weed stocks you ever want are in a Total Market Index Fund. Along with every other stock. And it costs you 0.04% per year.

Keep it simple guys.

I feel like you think that was helpful. I have my other accounts to just invest but I’m looking to take a couple of grand and turn it into something big and willing to accept the risk that comes with that.


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[midranger]

Not trying to be helpful. Just passing along a philosophy well studied and supported by all available evidence. Gambling can be fun in small doses, I suppose.

[M-C-G]

I’d say gambling is pretty much what I am looking for in this case.


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[Zeezprah]

if i'm going to gamble, i'd rather it be on a sports/boxing match. at least those offer some entertainment value.

[MissKhriddleton]

"Investing" is an easier sell to the girlfriend though.

[jschligs]

if i'm going to gamble, i'd rather it be on a sports/boxing match. at least those offer some entertainment value.

Cryptocurrencies can be a lot of fun and entertaining actually.

[Aaron It Out]

What are people using for Crypto exchange? Looking to move off Coinbase for something that supports more currencies. I started the verification process for Kraken but I'm seeing that it's taking weeks for some people. I'd rather not wait that long.

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[jschligs]

What are people using for Crypto exchange? Looking to move off Coinbase for something that supports more currencies. I started the verification process for Kraken but I'm seeing that it's taking weeks for some people. I'd rather not wait that long.

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GDAX (believe they're owned by Coinbase or something along those lines), Poloniex (what I use), Bittrex, Kraken and there are a few other common ones.

Some exchanges have coins other's do not so I have accounts on a few.

[skones]

What are people using for Crypto exchange? Looking to move off Coinbase for something that supports more currencies. I started the verification process for Kraken but I'm seeing that it's taking weeks for some people. I'd rather not wait that long.

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I use Bittrex.

Another Ripple plug.

[Tfence92]

"Investing" is an easier sell to the girlfriend though.

"I invested $50 into the Bucks tonight honey"

She won't understand.

[Diggr14]

Put all of your money into Bitcoin or Scratch offs. Both, you’re going to sizzler.