Beating the Banks

Discussion in 'Investing' started by Bodacious, Jul 6, 2019.

  1. Bodacious

    Bodacious Active Member

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    Hello folks, I'm new here, I posted a little ditty in the intro sub forum, but this forum was my motive for joining, please allow me to explain.

    I'm new to stocks, I've been paper trading for last few months with mixed results, good days and bad days, stuck 12k on a 1m account at WeBull, half of the 1m I invested in low risk Nuveen munnis, slow gainers, with the other half I purchased a little volatility, gold interests, and energy, some consumer goods and techs, no BIOS though, too risky.

    I'm wanting to invest in the future with my goal to be getting better interest than the banks (1.81%).

    Is there safe sound strategy that will help me reach my goal? I have $3,500 to work with. I can not day trade because I will be utilizing the Robinhood no commissions platform. I've been heavy into learning about the markets, reading reports and studying charts, learning Aroon and DI and many other indicators, I'm just not ready to plunge without speaking with stock people like you folks, you know "Stockaholics", what better place to seek advice about the stock markets.

    Input will greatly appreciate, thank you.
     
  2. Jrich

    Jrich Well-Known Member

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    A plain, boring, vanilla flavored S&P index fund will beat the socks off ever decentigrating savings account interest rates... boasting ~10% historical year over year gains
     
  3. Bodacious

    Bodacious Active Member

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    Thanks for the reply, good info, I looked into what you suggested, I found four different options on Investopedia, all four are "500" funds. I'm figuring that they all use the same top 500 companies and that the differences are in share count allotment. All four look solid in getting the return I seek while being hands free which in my case equates to user friendly. Well, I can't budget for all four but I might be able to get two of them, that would be a good foundation. Once that deal is up and running I'm thinking that I might look more closely at some riskier buys on a different account / platform.

    I'll be reading here, watching you folks conduct business, learning, hoping to recognize the nuances, trying identify right and wrong. I have a terrible urge to jump right in, but I know that would be a mistake, so for now I will move very slowly, and again, thanks for input.

    The link to the article:
    https://www.investopedia.com/articles/markets/101415/4-best-sp-500-index-funds.asp
     
  4. Jrich

    Jrich Well-Known Member

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    No need to buy more than one of the same index, that just equates to excess commissions... just choose one from a reputable firm, like State Street (SPY) or Vangard (VOO) or others... you'll want to compare the fees before making your selection, and your broker will most likely offer one or more commission free
     
  5. ElectricSavant

    ElectricSavant Active Member

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  6. Mark22

    Mark22 Member

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    This article is very good
     

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