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ClemsonU88

ClemsonU88

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It's great to hear that you've been able to invest in stocks and see some growth in your investment. Investing in stocks can be a great way to build wealth over the long term, and it's encouraging to see that you're taking a long-term approach to your investments. I also want to invest some money but unfortunately until now I haven't raised the necessary amount; I'm thinking of taking a credit but I don't know if it will succeed..
Not sure what you mean by “taking a credit”. A loan? A credit card?

When we sold our last house, I put 20% down on the new house and invested the rest of the equity in the house we just sold in Apple. It’s tripled in 4 years. Obviously that’s not guaranteed, and even Apple could lose investors money if some “disrupter” emerges, because nothing is guaranteed.

I think investing in Apple, Microsoft, and (to a lesser degree AMD) is as safe as one can get in the stock market. Just my opinion. I’m not a financial analyst or a professional investor of any sort. Just a guy trying to invest wisely with what I have.
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Timothyd

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I used to put $50 of gas in my Nissan Frontier weekly. Now I'm putting about $35-$40 in my hybrid Maverick every other week. Financially I've kept the same routine; except I put $45 in the tank every other week and $50 in Apple stock every other week. At the end of the year I will have put $1,300 (26 x $50) into Apple stock. If Apple stock increases at 20% (about average for Apple), that would be $1,430 after 1 year. At the end of 3 years, I will have put in $3,900, and it would be worth roughly $5,205. At the end of 4 years I'd have $7,676; and at 5 years I'd have $10,641.

And it's all because I just kept doing what I was doing before but putting the money in a different place. If you don't want to put it in Apple, put it in Microsoft, or AMD, or a high yield CD, or a college fund. The point is, be smart with your money. I'm paying the same for my Maverick as I was for my Frontier. So I've reduced my repair amount to almost $0 for 3 years (due to the warranty) and not increased my monthly payment, AND I'm saving $1,300/year.

You can setup an account with a company like Vanguard or Schwaub online (I'm not affiliated with either) and link it to your bank account and transfer money manually every other week. IT'S DOABLE!! Even if you just stuck $1,300/year in savings, you'd have $6,500 + interest saved up after 5 years. No stock is guaranteed to go up, but be smart and do something financially wise for a change!! The hybrid gives you an excellent opportunity to do that!

***************************** February, 2023 Update ***************************

I entered a comment below, but the $630 I haven't spent on gas every other week is now worth about $950 in AMD stock (I switched from Apple to AMD stock early on). Y'all can do this. Just pick safe stocks or high yield savings accounts.
Loving my Maverick presently but right now I'm dumping money into my divorce which will be a huge savings in the future. Does saving my sanity count for anything?
 

BradnChristine

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Check out Stash. You can buy as little as $5 worth of a stock...most any stock. It lets you buy pieces. I have some $450 a share stocks...but $5-$10 at a time. Costs $3 a month and there are no minimums to buy. Send me a PM if you want a link for $25 to start. I've never done that, but it is supposed to earn me $10 worth of stock and you get $25 to get started.
 

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Would anybody else take a similar $50 a week windfall and use it to buy beer and fishing stuff or is it just me?
absolute best response in this thread. i literally spit a little bit of beer out laughing as I read it.
 
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ClemsonU88

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absolute best response in this thread. i literally spit a little bit of beer out laughing as I read it.
I believe that's what most people would do. That's why I wrote this post. :) Trying to encourage people to think long term with "found" money.
 

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ClemsonU88

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I dropped to saving $80/month, because gas has dropped to about $3.50/gal. In retrospect, gas coming down is also "found money", so I should have kept it at $100/month...but I didn't.

After 19 months I've put about $1,522 ($80 * 19 = $1,522) into my investment account. It's grown to about $3,669 (invested in Apple, AMD, & NVidia). If I played it safe and had put it in a savings account getting 3% interest, it would still be worth about $1,542.
 

tom_tucker

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Loving my Maverick presently but right now I'm dumping money into my divorce which will be a huge savings in the future. Does saving my sanity count for anything?
Tough situation but spend now, save later. Judge just stamped mine after 14 months of loans and lawyers, I ended up being the plaintiff and writing the deal. Tough to let a person go but it was time. Stinks, but the Maverick and single Dad life have been an upgrade.
 

AutobahnSHO

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Warren Buffet says a reputable mutual fund over long term is the best investment.

"High-performing large-company stock mutual funds have produced returns of up to 12.86% in the last 20 years. Comparatively, the S&P 500 has produced returns of 8.13% since 2002."

https://www.nasdaq.com/articles/what-is-the-average-mutual-fund-return

-------- ------------ -----------
But really, the key to financial happiness is spending less than your income, avoiding debt, saving and smartly investing for the future, and mitigating risk (like saving up for emergencies or house repairs).

In a few years I'll be debt-free and house paid off. No other debt whatsoever (3 cars including Maverick). We use one credit card for all gas, groceries, etc... and since we pay the bill in full every month, we've never paid a penny of interest, fees, or penalties- and we get about $200-400 in rewards every year we use for Christmas or whatever. I'm putting a nice chunk of every paycheck into retirement savings.

Compare that to 11 years ago when I was swimming in debt- a huge chunk of paycheck went to minimum payments on multiple credit cards that were all maxed out. Had a car loan, no house ownership. No savings.

It took a TON of self-discipline for years to get to where we are now- we see lots of things we'd love to buy, but we don't need them, so we don't buy them. By selecting a smaller house we go to bed every night stress-free instead of having a big house that "needs" more stuff in it. We were able to pay off the Maverick right after buying it (dealer called us it had arrived and we were surprised so had to move money from another bank which was going to take time so we got a loan and paid about $200 in financing).
 

AutobahnSHO

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Check out Stash. You can buy as little as $5 worth of a stock...most any stock. It lets you buy pieces. I have some $450 a share stocks...but $5-$10 at a time. Costs $3 a month and there are no minimums to buy. Send me a PM if you want a link for $25 to start. I've never done that, but it is supposed to earn me $10 worth of stock and you get $25 to get started.
Most people are horrible at picking stocks. Reputable Mutual Funds are where it's at, check out the link above.
 

AutobahnSHO

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Loving my Maverick presently but right now I'm dumping money into my divorce which will be a huge savings in the future. Does saving my sanity count for anything?
I feel you- I got divorced in 2013, check out my post above. Life is GREAT now but that was the most stressful year or two of my life! (Divorce then being broke with alimony and bills)
 
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ClemsonU88

ClemsonU88

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Warren Buffet says a reputable mutual fund over long term is the best investment.

"High-performing large-company stock mutual funds have produced returns of up to 12.86% in the last 20 years. Comparatively, the S&P 500 has produced returns of 8.13% since 2002."

https://www.nasdaq.com/articles/what-is-the-average-mutual-fund-return

-------- ------------ -----------
But really, the key to financial happiness is spending less than your income, avoiding debt, saving and smartly investing for the future, and mitigating risk (like saving up for emergencies or house repairs).

In a few years I'll be debt-free and house paid off. No other debt whatsoever (3 cars including Maverick). We use one credit card for all gas, groceries, etc... and since we pay the bill in full every month, we've never paid a penny of interest, fees, or penalties- and we get about $200-400 in rewards every year we use for Christmas or whatever. I'm putting a nice chunk of every paycheck into retirement savings.

Compare that to 11 years ago when I was swimming in debt- a huge chunk of paycheck went to minimum payments on multiple credit cards that were all maxed out. Had a car loan, no house ownership. No savings.

It took a TON of self-discipline for years to get to where we are now- we see lots of things we'd love to buy, but we don't need them, so we don't buy them. By selecting a smaller house we go to bed every night stress-free instead of having a big house that "needs" more stuff in it. We were able to pay off the Maverick right after buying it (dealer called us it had arrived and we were surprised so had to move money from another bank which was going to take time so we got a loan and paid about $200 in financing).
You're doing it right. Eliminate debt as soon as possible and stay out of debt going forward. I understand that's not always doable, but most times it is...it just takes self discipline.

Congrats on your self-discipline and debt reduction!!!
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