Investing

Let's make some money bb.

 

Took some money out of my Fanduel account and put it on $BB... never done anything with the stock market besides a 401k so I'm using this as a learning opportunity more than anything

 

how buy stonk?

 

Give me money pleeeeease

 

Redistribution of wealth please

 

I think "gambling with stocks / day trading" might be a better title. Buying meme stocks isn't really "investing."

 

AMC gonna be extremely volatile today

 

people moving onto EXPR already lol. it’s so fickle

you couldn’t pay me to buy their shirts i’m not buying their stock too

 

reddit is down / slow lol

 

everything is snail's pace today

 

Looks like everything crashed because they shut down those apps.

I'm not in on anything just enjoying the show, trying to maybe do some homework to see what happens down the road so i can throw $100 at soething early or something lol

 

Yeah, TD Ameritrade isn't updating correctly, showing I'm losing money when I'm going up?

 

I have 4 shares of Starbucks which I was given for working there, I've held them for years but am wondering if I should sell 1 or 2 and take that money and reinvest into some of these shenanigans. It's the only money I'd really have to play around with. Can't believe I looked at GME a few months ago and didn't buy in...and then didn't buy in last week at $30....I'm too nervous for this shit!

EDIT: Let's be honest I'm not gonna do anything cause I don't know what I'm doing. Good lucky everybody I hope people make money

 

Unless you’re funding your retirement via index funds, everything else is gambling baby, what happens in Vegas stays in Vegas

 

Just made 8% on express! (I had $2.75 in my robinhood account)

 

the apps are a messssss rn

 

My girlfriend is all about index and is freaking out about me throwing money at this stuff.

Just now she asks what she should throw money at lol. Told her about how cheap EXPR is and how it doubled in price. I think I got her attention.

 

Every stock I have other than GameStop is in the red lol. I’m up $5k with GameStop tho having gotten in around $50. Volatile as hell today.

 

put some money on $bb

 

I'm pissed I can't even access my Ally account

 

Can you do index funds and such on these various apps, or is it just for day trading? And if you can, what's the advantage of having someone manage it for you vs. just doing it yourself?

For example, I have a pension so no 401K yet, but I wanted to start one soon. They offer us one through our job and a company (Forget which one), but that obviously comes with the fees. So if just awnted to do straight up index funds, what's the advantage of doing one with the fees through my work vs. doing one for free on RobinHood or whatever? My assumption is that the comapny that would be running my 401k will be paying attention to marks and moving money around into the "safest" places or whatever?

 

I bought 3 shares at $19 LMAO

 

You can do index funds (well, ETFs) in Robinhood. And in your 401k, you likely have the OPTION to choose your investment strategy vs having a company do it, which can save you on fees in the long run. my 401k (actually 403/457) is 100% in index funds, spread among 7 or 8 asset classes.

 

(not financial advice and I'm not a financial professional)

My understanding is that unless you're self-employed, you need to set-up a 401k through your work with the brokerage your work has a plan through (Fidelity, Charles Schwab, Vanguard, etc.). There are a couple types of fees: fees for managing the 401k plan for your employer (a rounding error for you if it's a large employer) and fees for managing the index fund (called an 'expense ratio'), which is unavoidable wherever you are buying the index. For example, VTSAX (Vanguard's total market fund) has an expense ratio of 0.04%. This means if you have $10,000 invested in VTSAX, they will take $4 of that money as a fee for managing the index. It's a rounding error and I wouldn't worry about it.

The tax advantage of a 401k through your employer far outweighs the cost of the fees vs. buying index funds in a taxable brokerage outside of work.

 

@David87 also, if your work has a 401k match, start contributing up to that match at least ASAP. It's a 100% return and not doing it is like... turning down a paycheck.