Investment

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This week in... The Penny Hoarder Community

Ashlee
Hi Penny Hoarders! This week we want to give our Veterans a special shoutout. We’ve been celebrating you all week long and are so thankful for your service. Here’s your weekly round up of announcements... In the market for a home? Here’s how to qualify for a conventional loan, which could save you thousands. Check out this quick video our team put together explaining everything you need to know. You can also read the entire article here . Have you found a cool way to make money outside of...Read More...
Hello penny hoarders I’m trying to build my credit up and people telling me to get a credit card and make my payment on time but I never had a credit card before and my credit will not let me get one anyway could someone tell me another wayRead More...
Too bad I missed the early bird pricing on the event. Who knew you guys would be hosting an event on my birthday when I will be in the area as my wife and I finish up the driving part of our 50 State tour! I will be in Orlando which isn't too far of a drive from the event so I am going to try to see if I can make it work for sure. I don't drink but it will be great to meet some fellow Penny Hoarders and learn from some successful side hustlers!Read More...
Last Reply By Lola Jones · First Unread Post

This week in... The Penny Hoarder Community

Ashlee
Happy Friday! Whew! Where has this week gone? Here’s your weekly round up of announcements to get you through today and into the weekend... We’ve crowned our November Member of the Month. Join me in congratulating Lisa Acu ñ a (@lismox) for being selected this month’s winner! We all appreciate your help around here, Lisa. Each month we look to crown a new winner. We’re looking for someone who is super helpful and active in the community. Each winner receives a $25 gift...Read More...
Not a problem, @Lesley Michele .Read More...
Thanks Average Joe😁😁😁😁Read More...
Last Reply By AverageJoe · First Unread Post

How to Organize Your Financial Life With a Budget Binder

Ashlee
Having troubling keeping up with everything in your financial life? A budget binder can help. Here's how to make one! Have you tried this approach to budgeting? I would love to hear more about your budget binders.Read More...
@MountainFan , I'm a big fan of TBM. So glad I found her method!Read More...
After reading some of The Budget Mom's posts, I was looking into making something like this for my home. I was so happy to see this article from The Penny Hoarder shortly after, it was uncanny! I like to combine this idea with bullet journaling a little, making my own mash-up version. I love it.Read More...
Last Reply By KellyFromKeene · First Unread Post

Happy November!

Ashlee
We’ve made it to the end of the week and the start of a new month Penny Hoarders! Who here can’t believe it’s already November? 😳 This week I want to know if you’re a planner or a procrastinator… Do you start planning and budgeting now for holiday purchases or wait until the last minute? What about your New Year’s resolutions? And now for this week’s announcements… We just hit a HUGE milestone Penny Hoarders… 10,000 community members! Join us in a celebratory happy dance, then go check out...Read More...
@Susan L. Miller We have used Freecycle off and on for years. We got the foot and headboards for our queen-sized bed through the program. We have seen many items we no longer use go to other homes that would use them and recommend it heartily! We have also used our "Marketplace" here in our area on Facebook to buy and sell things. There are so many ways to go and programs to use! Happy selling...and as one of our mentors says "Think..and grow RICH!"Read More...
I'm not sure how many were here when I joined the Penny Hoarder Community, but I do know that it seems as if we've grown by leaps and bounds. I've met some interesting people and like having information and ideas coming in! May we continue to grow in numbers as well as in wealth.Read More...
Last Reply By AverageJoe · First Unread Post

Beginner Investing

Emme
Hello. New to Penny Hoarder forum. I am 63 and looking forward to semi retirement. I am interested in learning about passive income. Any suggestions on where I might begin? I know next to nothing about investing.Read More...
Hi @JoAnne ! Here is a recent article from the site about Ellevest you might find helpful: https://bit.ly/2p05xNe .Read More...
I was looking into Ellevest but am reluctant to take the next step, any information would be appreciatedRead More...
Last Reply By Ashlee · First Unread Post

Hello, everyone! Nice to meet you!

Ashlee
Hey, everyone! I am Ashlee, your new Community Ambassador. I have worked at The Penny Hoarder since the beginning of the year. I am super excited about my new role in the community and spending more time getting to know all of you here! And, in case you were wondering, my top financial goal right now is saving for the long term. So now for my first official announcement... First, some big news! W e've put together a member survey that will help us better help YOU on your way to accomplishing...Read More...
Hey @BeckAtsila , welcome! Glad to see you here.Read More...
Hi @BeckAtsila , it's nice to meet you!Read More...
Last Reply By KellyFromKeene · First Unread Post

Topics

Robert Kiyosaki

Is anyone (preferably someone with lots of experience in this area), familiar with R. Kiyosaki? He has a couple books out, Rich Dad, Poor Dad. I was looking into his investment strategies which he says are very simple and anyone can implement them. Are his strategies integral? Do they work? Still interested in clarifying the facts..thanks for any feedback. I want to invest money but in a sound & solid way...Read More...
My career was sales and most sales people are seminar/book junkies. I attended and read many and here's my take: 1. I always always took away at least 1 brilliant or motivating idea and usually it paid for the seminar or book; 85% fell in that category. 15% presented 2+ brilliant or motivating ideas and were jackpots. 2. I always wondered why the seminar teachers were teaching and authors publishing instead of doing whatever made them raving financial success stories. One can not have too...Read More...
I have found some value in his books and I listen to his podcasts from time to time to learn about different things going on in the financial world. When it comes to investing, I believe it is something personal that we all have to figure out on our own what advice to follow and if it is something we are willing to commit to and take a risk on personally. I don't believe one key person has the magic investment strategy to make all the money, I believe there are multiple factors that play a...Read More...
Last Reply By mintjulep · First Unread Post

Anyone else having issues with Acorns?

fauna
I recently signed up with Acorns to invest my change (small unmissed change right). It's been OVER a week and still haven't been able to get completely set up. The page that comes up when you open app "personal information", asks for just that. But I fill it out & hit next to continue & window pops up that says " Something went wrong. Please try again in a few minutes". Well, that was over a week ago & still trying. They have no customer service number on there that I could see.Read More...
Hi @fauna ! Were you able to get in touch with Acorns' customer service team for help with the sign up process?Read More...
I've called Acorns customer support before. The number I used is: (855) 739-2859. And for what it's worth I really love this app. It's helped me save money in an investment account and an IRA. Good luck!Read More...
Last Reply By Ashlee · First Unread Post

Website called Fundrise

I'm new to investing. As in, I want to start. I don't totally trust big companies like Wells Fargo and was reading on here about a website called Fundrise. Has anyone used this? Is it a legit site? I feel more comfortable using that type of investing. Any help would be appreciated!Read More...
I am so sorry...I don't have that information yet. I've been looking for that kind of thing myself. It's one of the things that I have been holding out for before I invest in them. You could write their investment counsellors and they could probably give you that information. Hope that helps. I'm still waiting for them to answer.Read More...
Yes Thank you for the info but I was thinking more in terms of investor profits vs company profits.Read More...
Last Reply By AverageJoe · First Unread Post

Do I Need a Broker to Buy Stock?

Donald max
hello i am Donald Max and i am running a company which are providing the packaging services. i am getting good profit from this business which i want to invest in stock is there any buddy help me and tell is this right decision. and also tell me i need broker to buy stock.Read More...
ok thank you so much for your advice brother I will check your giving site then come back for more helpRead More...
If you have funds you don't need for the next 5 years them you can invest without a broker. Sites like betterment, wealthfront and many others are robo advisors that do all of that. And I know wealthfront can set up an IRA for you for retirement savings. But before all of that I would speak to an accountant and tax advisor.Read More...
Last Reply By Donald max · First Unread Post

I want to invest small amount

Please suggest me to invest small amount in real estate business.Read More...
You could use small amounts through the STASH app.Read More...
The Penny Hoarder had an article on Fundraise, which allows investments starting at $500 in real estate: https://www.thepennyhoarder.co...ney/fundrise-review/Read More...
Last Reply By BJLEE · First Unread Post

REIT

Robert Mattress
I’m seriously thinking about putting in the minimum amount to start investing, does anyone know about REIT investing? I am expecting good returns for my money. I know all investments come with risk of losing the money you put into your investments.Read More...
Hi Robert, The Penny Hoarder team has a great article on this! https://www.thepennyhoarder.com/investing/invest-in-real-estate-for-under-500/Read More...
Last Reply By Theodora · First Unread Post

Angel investors

Does anyone have any information on how you can get started to becoming an angel investor with a minimal investment? ThanksRead More...
Thanks guys for the very useful information.. I really appreciate it have a good day!Read More...
No. I never heard of the website. I will check it out. As an angel investor resources are sent out to you.Read More...
Last Reply By SC · First Unread Post

Looking for investment that pay at least 10%

aglenda2000@yahoo.com
Does any know where I can invest $500.00 to $800.00 for a guaranteed 10 percent return, please let me know. Recently I saw a company on line which paid 10% on any amount invested, but were not FDIC insured, but had good feed back from investors. Unfortunately I cannot remember the name of the online company. If any one knows the company please let me know. ThanksRead More...
Thanks for the info, I will definitely look into some of them you listed.Read More...
I have not heard of a company offering a 10% guarantee of return on investment, but it does not mean that it isn't out there. If you find it go for it, just do your research before investing. My go to investments are dividend paying stocks like Costco, Exxon, Microsoft. ETF funds are great vehicles for market gains. I think your best bet for steady income though would be in real estate. With the amount mentioned you should have enough to invest in Fundrise or purchase REIT stocks like O -...Read More...
Last Reply By [email protected] · First Unread Post

Investing in real estate

Clkw84
Does anyone have any tips on buying real estate to rent out with little down money? We don’t have much retirement savings so we are looking for some passive incomeRead More...
There are so many ways to invest in real estate these days. It is one of my favorite investment options. REITs are great and easy to invest in. They are traded on the stock market and can be bought and sold easily. Many of them also pay monthly dividends like ORC or O. You might think of trying AirBnb. Any extra space you can rent out to people and earn extra cash. I live in Dallas near the Cowboys stadium and whenever there are games I just rent out a room and make off like a bandit. You...Read More...
@DipperDave Great tips, thanks for sharing! I am personally going the route of REIT's for now until I can have a better financial position to be able to invest in my own properties. I have been using Rich Uncles REIT for a while now but have constantly heard a lot about Fundrise and I intent do try them out in the future.Read More...
Last Reply By Dexter Money · First Unread Post

Marijuana Investing

Karen McEuen-Novak
I live in California where marijuana is legal. I’m wondering if anyone has any experience investing in this growing industry. If so, what is a good company to invest in?Read More...
It looks like marijuana is here to stay and more and more states appear to be legalizing it. I don't really see a problem investing in a company that services the cannabis industry. If you do choose to invest in these companies I would recommend diversifying, because it is a young industry with a lot of volatility, but that also means there is a lot of opportunity for profit. TRLY - Tilray CGC - Canopy Growth Corp CRON - Cronos Group These are some big players in the industry to watch out for.Read More...
I recommend using ETFDB for this type of research and then sort by AUM and avg volume. You'll want a very liquid ETF (high volume). I believe $MJ is the 'highest' in terms of AUM and avg volume. Be aware of expense ratios on sector specific ETFs. https://etfdb.com/themes/marijuana-etfs/ Once you've found a few, check out Morningstar for more research data and info. https://www.morningstar.com/Read More...
Last Reply By Dexter Money · First Unread Post

Investing in Real Estate

Clkw84
What type of return does investing in real estate trusts usually garner? Say we start out with putting $10,000 in? We are self employed and although we have a mutual fund account it gets really scary with all the fluctuations. We need a savings that will have guaranteed growth and I think real estate trusts is the way to go.?Read More...
It really depends on the Real Estate Investment Trust and their investment strategies. I personally invest with Rich Uncles REIT and they get about 6%-7% annualized returns but I know of someone else who invests in another and only sees 4%-5% returns. I still am looking at investing in Fundrise and they advertise 8.7%-12.4% returns on their website. It really just depends on the company...Read More...
Last Reply By Moore Income · First Unread Post

How do you invest?

Antonio Bonton
So I used to day trade when I was in college and while I would make a little bit of money, I quickly realized this was not the best idea for long term growth. While I do spend a ton of time researching individual stocks, I think that the best option is to invest in ETFs. These allow me to diversify my portfolio and still receive dividends. Do any of y'all invest heavily?Read More...
I personally like investing in a more hands off approach. I use a lot of apps and platforms that make it easier to do so. Most of my investments are done through robo-advisers and REIT's but I do have a few apps where I purchase stocks. When it comes to stocks, I only buy stocks that pay dividends.Read More...
Last Reply By Moore Income · First Unread Post

Which Real Estate Website allows one to invest for:$50?

Sandynyc
Hello community. I am trying to increase my earnings through investment. I remember reading that a $50 investment was a way to break into Real Estate Investing. Does anyone know which website offered this option? Thank you. SandyRead More...
@Kendra Irvin I went to Groundfloor.com and it redirected to Groundfloor.us Do you have experience investing with this company? I like the concept, just not sure how much they require to get started.Read More...
Groundfloor.comRead More...
Last Reply By Moore Income · First Unread Post

Has anyone used the Acorns app?

Have any of you used the Acorns app before? It's an app that takes the extra change from your purchases and then invest that money for you. A friend mentioned it to me, just wondering if any of you could offer some tips on it.Read More...
Thanks for all info. Something I have been wondering about for a while.Read More...
@TheSugarFreeLife it was the exact same thing for me. I love Stash. I personally think Robinhood is more complicated because you have to choose the stocks yourself and you have to purchase a whole stock whereas Stash allows you to only purchase partial stocks. @BJLEE my favorite, that I have used for years and has gotten me around 20% returns is WiseBanyan. This is my top recommended robo-adviserRead More...
Last Reply By Linderlou · First Unread Post

Bеѕt Investment Plаnѕ wіth High Returns

Haritha
I am identifying prudent investment avenues tо соmроund wеаlth tо accumulate a sizeable соrрuѕ fоr vаrіоuѕ lіfе goals іѕ a еѕѕеntіаl aspect оf financial рlаnnіng. Investment doesn’t fоllоw a оnе-ѕіzе-fіtѕ-аll approach to financial gоаlѕ аnd risk арреtіtе аrе different fоr еvеrу individual. Amоng thе various аvаіlаblе financial instrument, іt’ѕ еѕѕеntіаl tо choose thоѕе which best аlіgn wіth your lіfе gоаlѕ. Unіt-lіnkеd іnѕurаnсе plans: Weaving іnѕurаnсе аnd іnvеѕtmеnt іntо a ѕіnglе рrоduсt,...Read More...
I am not familiar with some of these mentioned @Haritha Are some of these specific to your country? Mutual funds are one I need to learn more about and have been told as you mentioned that they are a great investment opportunity. Definitely something I will be looking into more.Read More...
Last Reply By Moore Income · First Unread Post
If you're considering investing, here are some things that are important to have done or be doing before you do. 1. Live on a budget. You'll benefit greatly by spending your money on paper, before you actually spend it. Plus you'll get to see where you're money is going every month. 2. Pay off all your debts. Get a copy of your credit report and pay off one at a time, starting with the smallest, working up to the largest. 3. Now that you no longer have any debt, with the exception of your...Read More...
@Rob Loftus Out of all the investment funds, please share why you chose Vangaurd's Index Funds.Read More...
All great tips, however when it comes to investing, I believe in starting out from the get-go, even if it is with just a little bit. Taking a balanced approach to finances means that one aspect doesn't get overlooked in the long run. For example, I could be really good at living on a budget but overlook paying off debt, or I could get really good at saving and never really learn to invest. My mentor has taught me to take a balanced approach to every aspect of finances: budgeting, savings,...Read More...
Last Reply By mintjulep · First Unread Post

Investment apps

Mexpensive
Has anyone ever signed up for an investment app? Like Stash and Acorns? I would like to be able to passively save some money as I have no retirement. I am not sure how good these apps are. I know no one personally who has ever used them. Has anyone here? What's your opinion yay or nay?Read More...
Thank you ! Just what I wanted to know .Read More...
I have signed up for both. They are both basic and simple to use, however I much rather prefer Stash over Acorns. With Stash, you choose your own companies and stocks to invest in whereas with Acorns, it is a robo-advisor so a computer does the work for you. So far I have had them both for over a year and I am just barely starting to see a return from Acorns. For the longest time they were actually losing me money. When you add on the monthly fee, it makes it not really worth it for me.Read More...
Last Reply By Mexpensive · First Unread Post

Compound interest

joann
When starting out saving, what is the best thing to do if you want take advantage of compound interest to grow your money?Read More...
Your best bet when getting started would be to find a high-interest savings account. With many new online banks and platforms being introduced to the marketplace, the interest rates are starting to get pretty competitive and it should not be hard to find something that could work for you. I am not an expert on the topic but I did f ind this article from Motley Fool that goes into more detail about what types of investments can give you compound interest. Hope this helps! For anybody else...Read More...
Last Reply By Moore Income · First Unread Post

Unprofitable companies are annoucing IPOS

Mo Brownies
So some big companies are about to become public. Big in terms of brand awareness and not profit. Uber and Lyft are the 2 next companies that are set to launch their IPOs later on this year. (I beleive Lyft will be this month). However, BOTH companies have never made a profit? Yet, there are alot of eyes set on buying stock from these companies. Why is that? Would you buy stock from Uber or Lyft? https://www.recode.net/2019/3/...er-ipo-public-profitRead More...
I think brands do try to 'trade' on their popularity rather than performance and unfortunately people will hear the name & think it is a great thing to get in on 'at the ground floor' hoping that it will be the next big thing. I won't be investing in it.Read More...
This is definitely very good information to have. I think people tend to get caught up with thinking of these companies in terms of becoming big like Amazon or Google. While I have no doubt these companies stand a chance of becoming big, one should really do a lot of research before making an investment and not just invest based on pure emotion.Read More...
Last Reply By Nicole · First Unread Post

Stock

Hello! Anyone here familiar w/stocks? My daughter has stock w/her employer. She's trying to fill out the FAFSA and its asking for the "Net worth of her investments". She has a stock plan and its on etrade. We are not sure what we are supposed to be putting on the FAFSA form. On a brokerage stmt I pulled up shows her Total Net Portfolio Value and on the Complete View page it shows Current Account Value and Total Account Value. Which value and I supposed to be putting on the FAFSA? Thanks!Read More...
I don't have any experience with filling out FAFSA forms and my investment experience is mostly limited to using apps and other platforms. But I did a little research and I came across this document which FAFSA put out going over that part of the form in detail. https://fafsa.ed.gov/fotw1920/help/fotw33c.htm Hoping this is somewhat helpful!Read More...
Last Reply By Moore Income · First Unread Post

Savings and Investing

Scotirish
I had smoked since I was 13, and having attempted to quit many times, the rising costs of cigarettes was concerning me greatly. I formulated a plan to weaning off cigarettes with the oncoming of e-cigs, but with a new incentive. Invest the money I would save on each daily purchase. To cement my earnestness I withdrew $3,000 and invested it through Vanguard into a health account. In the first weekend I found the e-cigs to be harmful to my throat and quit them immediately. I would do this cold...Read More...
Wow that is an awesome story. I like that you set a goal to reward yourself for quitting. I believe many people fail because they don't replace it with something better or simply have a big enough reason in their mind to justify quitting. This is a great encouragement to someone trying to quit that it is possible but it also shows the reward of investing in yourself. Way to go! @ScotirishRead More...
Last Reply By Moore Income · First Unread Post

A beginner's guide to investing

The Saving Scientist
Hey Penny Hoarders, For the longest time, I thought that investing was reserved for the financial elite. I didn't really understand the terminology and it just sounded too complicated to be worth my time. A year after starting investing, I now know so much more and I'm happier (and wealthier) because of it. Investing is the best (and most effortless) way to create wealth. I've written down some thoughts for people who are also only starting out on their investment journey. You can find it...Read More...
I learned everything I know about investing from the Indianapolis-Marion County Public Library. Check your library for books on investing, especially "A Random Walk Down Wall Street" by Burton Malkiel and "Millionaire Teacher" by Andrew Hallam. If you're not a reader, both basically say it's almost impossible to beat the market and you should aim to match the market by buying a diverse index fund. I've managed to invest on $8.50 an hour through Stash, and I keep an emergency fund tied up in...Read More...
Last Reply By BeckAtsila · First Unread Post

Stocks. Asset or Liability?

Moore Income
My mentor defines an asset as something that is putting money in your pocket on a monthly basis. A liability on the other hand takes money out. With that in mind he asked me once if the stocks I owned we're an asset or a liability. I instantly said asset, but the more I thought about it, the more I wondered. I decided to take a look at the stocks I had bought through the Stash app and I was surprised to find most of my stocks paid me 0 in dividends. I then found one that paid a small...Read More...

Investments for Beginners

Suze Knisley
i have managed to save a chunk of money that is just sitting in the savings account. I have a 401k through work but want to put my savings to work as well as I am nearing retirement age. If you had $50k, how would you invest it?Read More...
Could you put it in an IRA? Even though you're close to retirement age, you wouldn't be taking the whole amount out the day you retire - so beyond your distribution, the money in your account would still have opportunity to grow.Read More...
Dont worry abt markets up and down just put something away every month in a good Fidelity Investments or Vanguard mutual fund. General Market fund. Look at it in 40 years and you will be HappyRead More...
Last Reply By Former Member · First Unread Post
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