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Network with other Minority Mindset thinkers.

Tagged With "investing"

Tagged With "investing"

  • Stock Market Investing
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    From what I understand, M2 teaches that we should try to build sources of passive income but I am struggling a little bit to understand how exactly that works with stock market investing. I completely understand it with real estate because there is a check that comes to you every month from rent payments, but the only thing I know that is similar to that in the stock market is by earning dividends. So is the idea to invest for dividend income or am missing something? Obviously if I bought a...
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    Can't answer this question with 100% certainty because I am far from retirement and far from having a million dollars, but the strategy I am currently using to hopefully get me there is to max out my Roth IRA (love the idea of not having to pay taxes on it later), contributing only to my 401k the amount that gets me the full employer match (got to get the free money), and then putting the rest of the money that is meant for investing into other accounts where I have more control over my...
  • Topic Reply
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    Hi @Landon Martin , we actually published a complete guide on this a little while back: https://theminoritymindset.com...ide-getting-started/ But essentially, if you wanted to gain passive income with stock market investing, you would have to invest in a company that offers its stockholders a dividend. Invest in enough companies that provide a dividend and you'll basically be paid for owning shares, AND you'll have the value of the stock you can sell at any time. Hope this helps!
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    @Landon Martin Great tips! Traditional investing can be a great way to build some wealth over time, but like you said, your money is sort of trapped until you are of retirement age. Not a bad way to get to a million though!
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    @Nathan_Gregory So far my experience has been great on my end besides a few hick-ups, but its normal. Cant always be smooth. I have 3 properties. 2 in SoCal and 1 in NorCal. Its definitely easy passive income when things go great. When you find a great tenant, its awesome. Coming up with capital can be challenging depending on your financial situation.
  • Real Estate Investing
    Hello everyone! My wife and I intend to acquire our first rental property in the near future. Obviously 2020 has made such a venture a bit more tricky due to the unknown nature of what the real estate market will be like in the coming years while we navigate this pandemic. So I figured I would gauge the Minority Mindset community and get some opinions on whether acquiring a rental property for a first time investor is a good idea right now with interest rates so low, or wait and see what the...
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    Good luck to you and the wife Elliot. My wife and I are in the planning stages looking to see what we can do to get our first property. It's definitely going to be a rollercoaster of sorts, but hey we figured it would be such a great way to secure a better financial retirement while we have some time.
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    Hey Nathan, I just got into ETFs/Stocks. I use Fidelity. I feel it's a real solid platform. I have heard Vanguard is also a great platform too. Of course you have WeBull, Robinhood, etc. Maybe someone will chime in with their experience.
  • Welcome - Start Here & Introduce Yourself
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    Hey everyone, Been watching the MM YouTube channel for a few years, loved the clear and concise message. The content really hit home. My parents didn't teach me what really matters with respect to financial freedom and wealth building. I don't blame them because their parents didn't either. So, with that said I am on a mission to help my son be better prepared. Albeit I feel I am a little late to the party. Either way, that won't stop me from living and working on goals for me and my family.
  • Topic Reply
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    I have been using M1 Finance for awhile now and have been very happy with it. I really like building the pie chart portfolio that the money will automatically divide between and invest in. I also like that M1 allows you to own fractional shares of a company so that all of your money can be immediately invested and you dont have to save up until you can buy a full share of a company. A couple downsides to M1 is that you dont have exposure to the full market because they only allow certain...
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    Ameritrade/Thinkorswim is clearly the best most reliable and successful platform. The others either don't have enough tools or simply don't have the reputation worth joining on for. Look at Robinhood whose main investor base is extremely novice and is known for days of server overload and awfull customer service. Seriously the barriers to entry for low-end investing apps arent very much look at the 18-year-old kid who killed himself because of margin trading on robinhood.
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    Thanks @Landon Martin It's going to take time (and money) but every little step towards the goal should get me there.
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    I have M1 over a month now and have had Etrade for 6+ years. I wish M1 was around when I started learning this field years ago, it so much funner being able to play with the big boys with only pennies to the dollar compared to the $$$ on each stock. Etrade is a nice straight direct forum that is nicer now that I have put time into studying it.
  • Welcome - Start Here & Introduce Yourself
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    My name is Veronica. I have a degree in Art History with a minor in Dramatic Arts. I'm interested in the learned about investing, side hustles, etc.
  • Book Club
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    Never too late to learn. I’m currently reading Stock Investing for Dummies. It’s a pretty basic book but does give useful resources and websites
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    In addition to generating PI from Stock Dividends look into other sources that can generate PI. Like writing a novel, blogging,/writing reviews or starting a small business. This way you can diversity your sources which can lead to funneling PI your way from multiple sources. Of course one can get PI from (1) source but you would have to invest heavenly in that (1) source and if it doesn't go as planned (since investing has it's peaks and valleys) you will find yourself in a position where...
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    Pretty basic info but book did give some useful websites that are handy rather than having to Google them. Buying a few stocks, starting off small but let’s see where I am next year. I’m a Christian so tithing is my 1st investment
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    Tithing: A great and much needed investment for sure. Amen! Nowadays with fractional investing when purchasing stock/ETF shares you don't need much. Every little counts and time is another factor that helps with growing your investment. If you don't follow up next year ... God bless your plans and if it is His will your fruits will be given unto you in abundance. Take care and keep moving forward.
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    Hey Nancy, How's progress with the investing? Did you get the knowledge you wanted from your readings and researching online?
  • Book Club
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    I just began my literary journey into investing and have read the following: Richest man in Babylon The Bogleheads Guide to Investing One up on Wall Street The Science of Success I am currently reading The Intelligent Investor, but was wondering how many books regarding investing or personal finance you read on average, say, every month, quarter, or year? Feel free to drop book recommendations, especially those along the lines of fundamental and value investing, or any other resources you...
  • Retirement Planning
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    Hey all, I am new here. however I have been reviewing and listening to the topics for a while. What I am having difficulty on is this: 401K is pre tax dollars. Any investing money after you get paid is money that has been taxed. Shouldn't the best advice be for retirement planning to max out your 401K contributions before thinking on any other long term investing with after tax dollars? Max out means contribute a full $ amount you are allowed per year, which includes you employer...
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    It's typically advised to only contribute up to your 401k match. Once there is no longer a match, or in other words, free money, invest other funds into an IRA. The reasoning is 401 plans are typically limited in the investments you can choose and will be taxed upon withdrawal. However, it varies, so if you feel it is optimal for you to continue to invest in your 401k based on your analysis then continue to do so. Regarding your logic with taking on more risk with after-tax dollars. Higher...
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    Hello @Trevor , I was in the same predicament as you mentioned above on this thread. After doing some googling and reading a slight page of Dave Ramseys book, he pretty much mentioned the same thing that @Maykel said. Max out 401K. After that, invest in IRA (I would say ROTH) so when you pull out in the future, its already taxed. I personally am doing this now. Just started it. I would not want to get taxed from only pulling out from 401K. You mentioned real estate, I would recommend this...
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    you both touch on a point: invest in 401K as much as your employer matches is the general advice. Tend to agree, however there are additional options to continue on 401k without matching. Something else mentioned is the idea of taxable retirement income vs non taxable (Roth). So thinking this is my action plan: In my circumstances I am past the beginning steps: 2k emergency fund, 8 month expenses liquid savings, no student, car or CC debt, no debt at all till I buy a home. 401K up to...
  • Saving Money
    Hello all, here's a bit of a deep seeded question so I'll give a little back story to help clear up some details. I recently had to sell my house and find a new job due to the pandemic, the job I found is great, and even pays more than my previous one. The downside, it's in an area that houses are way above my ability to offer. I'm the soul provider for a family of three and we found a place to rent that we can easily afford and save money while doing so. With the sale of the house we have...
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    Book are always the best way to get knowledge because creation of any book will take a long time to write and very deep research, so if your book related to the syllabus of any subject than you have to know how to make a Wikipedia page for your book and your self to make your work publish and your life too, so people will know who hard you work to finish this book
  • Topic Reply
    Congrats on having put aside your 30% down payment. I understand where you are coming from since you are not having luck at the moment in finding a home and with time trickling by you're now finding yourself often thinking about this money burning a hole in your pocket. The thing is, rates are so low right now you would be lucky to get 0.2% in a high-interest bank account, so it is not really worth the effort to open one up. Resist any temptation whatsoever in putting this money in a stock...
  • Buying A Home
    I will be a first-time home buyer and have a 30% downpayment aside. Currently looking for a house but it's difficult as inventory is very very low. Is there an option to invest this money (short team) and get some return?
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