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Thread: Teach me how to make investments

  1. #1

    Default Teach me how to make investments

    Was just reading the thread about things you've learned over the years and a few people mentioned making investments early.

    This combined with talk of the subject with peers at school got me kind of interested in getting started.

    Does anyone know any decent books or sources that are worth a read? I see books like this all the time but i'm always so skeptical about them for some reason.

    How much money does someone typically need to start off with to start playing around with investments? If I were to get into it now I would only feel comfortable throwing around 2000 - 2500 max. Is there any point in that or do I just hold off until I have a little more to put up front?

  2. #2
    Join Date
    May 2013
    Posts
    55

    Default

    Biggest investment - get rid of all negative debt.

    That is debt which is of a continuous cost to you and of which there is no gain.

    Get that 25 hundy, and clear those cards.

  3. #3
    Join Date
    May 2011
    Posts
    1,513

    Default

    First and foremost, figure out what your goals are..

    Long term, short term etc.

  4. #4

    Default

    Quote Originally Posted by JaiRo View Post
    Biggest investment - get rid of all negative debt.

    That is debt which is of a continuous cost to you and of which there is no gain.

    Get that 25 hundy, and clear those cards.
    No debt. CC is paid off every month


    ^as for goals I don't know what you mean. I guess I want some extra disposable income as short term goal. Isn't the only long term goal just to maximize your ROI?

  5. #5
    Join Date
    Aug 2010
    Location
    Edmonton
    Posts
    6,072

    Default

    Quote Originally Posted by 780rx View Post
    No debt. CC is paid off every month


    ^as for goals I don't know what you mean. I guess I want some extra disposable income as short term goal. Isn't the only long term goal just to maximize your ROI?
    I think he meant more along the lines of long term or short term investments. Do you want to invest for the purpose of having an extra bunch of money to retire with, or bridge your pension to retire early? Or do you want to take the high risk route to try and make 100k for some purpose as fast as possible?

    Having an idea of your goals can give people a better idea of where to point you. But to just flat out make an investment recommendation is useless. There is so many options and possibilities. One thing for sure though, no amount is too little. If you have 2500$ to start with, then get at it. Put it in a TFSA and start reading. There is lots of opportunities right now with the way oil prices are. Or you can find stocks with great paying dividends and start compounding that money. Or find a slightly volatile blue chip stock that you can day trade.

  6. #6
    Join Date
    Feb 2008
    Location
    SW edmonton
    Posts
    6,751

    Default

    Gotta figure out your goals as said.

    the absolute basic questions are: What is the period you want to look at for investing, and how much risk you are willing to take on.

    You want a short term ROI? That means low risk generally because you have zero time to recover from any losses, and that means avoiding anything with a decent ROI. You're basically stuck with GIC's and bonds and that isn't going anywhere with $2500. Stocks, mutual funds, etc are generally high risk in the short term, or are very long term investments. I wouldn't recommend stocks etiher unless you know a lot about the company. I would of felt perfectly happy investing in Apple 15+ years ago, but I know shit about their company right now, so no clue if their stock is over valued or not right now, and what is the future projections of it.

    But investing is basically putting your money to work for you, and the best way to do that is to find a niche which is not limited to stock/bond/gics/etc. What are you good at? what do you know a lot about? if it's nothing, well, ur up shit creek without a paddle..... but if you know something, focus on that. Me: I know tires, so i bought and sold tires and rims. I buy winter tires in spring, rwd sports cars when the snow falls, and now property when there is a recession. If you can recognize a deal you know you absolutely can not lose at then jump on it, and having disposable cash lets you act on things normal people can't. Find the right investment for the amount of cash you have. Those are items that work for me, but find what works for you. I had a gf that bought and sold currency and made enough doing that to live off it. Some people do it with electronics (I remember Wii's were quite the speculation at one point and paid out well). Find your niche and invest in something related to that.

  7. #7
    Join Date
    May 2009
    Location
    St. Albert
    Posts
    885

    Default

    If you only have $2,500 to invest, invest in a course, seminars, and books to learn how to invest. It will be the best first investment you can make is educate yourself on how to invest.
    Summer - Top Down ALWAYS
    Winter - AWD'n around

  8. #8
    Join Date
    Feb 2008
    Location
    SW edmonton
    Posts
    6,751

    Default

    Too many snake oil seminars. avoid imo. Most of them are just trying to get you into a scam too and if you want to learn about investing, it takes more than a 1 day seminar that costs 4 figures.

  9. #9
    Join Date
    Apr 2003
    Posts
    3,096

    Default

    Open a Tax free savings account. Use that money to invest With. That way there you don't pay taxes on the money you make.
    Originally posted by Wookey
    Im pretty sure Chris has built more, raced/driven more faster cars then 99.9% of the people here. he can be a shit disturber but he brings in good points.

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