Hi, my name is Grant and I am about to embark on my first real job. I am almost 19 years old and have always been very big in money management and investing, even as a child. I have worked a few different minimum wage jobs and have been very successful in them. After 2 years of college, I realized it wasn’t for me and although being on track to managing my own department at my grocery store I decided to go into real estate as not only am I good at and love sales, but I don’t want to live a simple life. I just started with a group and am expected to make $60,000 in my first year and on that track I could be making 300k in 5-10 years. I, of course, know the traditional methods of investment and am even planning to buy rental properties but I have one problem first. And that is just starting out with investing. In my area, I can buy a house in about two years off of 60k but I wanted to find safe sources of revenue before staring anything like property management. I am asking for any advice on high return investments for someone my age. Thank you to anyone who helps!
Read everything you can about investing money, whether into rental properties or the stock market. it is called Homework and you thought school was over, nope it is just beginning for you in Life. Buying rental property, find a real estate agent.
If you are interested in the stock market, look up online…Roth I.R.A…you may not understand everything shown, just re-read it
At your stated age of 19, you are allowed to invest $6,000.00 a year into a Roth I.R.A. That money you invest is after tax, when you go to withdraw that money at the earliest age of 59 years and 6 months of age, without penalties, it is Tax Free, what you do is buy dividend paying stocks, with that money in your account. You can make monthly contributions, as long you don’t go over the $6,000 limit. Most stocks pay quarterly dividends. A few stock traded companies are listed below for you to check out…P.S. I am not a stock broker.
McDonalds, Cisco, Intel, Walmart, Yum Brands ( think about Pizza Hut, Taco Bell, KFC). Yum Brands owns all three…Pfizer, Pepsi, Coke, Microsoft, just to name a few. these companies been around for a long time…think of other companies and type into the search bar of MSN Money etc for info.
You can also type your banks name into a search bar and see if they pay dividends, use for reference while doing your research, MSN Money, Yahoo Finance, (it is FREE) just type into there search bar. then you’ll get lots of info about a lot of companies and then when you’re ready to start, open an online brokerage account, using TDAmeritrade, Schwab, E-Trade, Fidelity, (pick one) follow there rules. Online account trading is free, but if you call the brokerage, it will COST you money.
Facebook, Google, Amazon, Tesla, Do Not pay dividends.
With any job you obtain in life enroll into the company retirement plans, Traditional IRA, 401K, Roth I.R.A., (yes you can have more than one).
Again i am not a stock broker. just a long time investor.
Good Luck to you Sir.
My name is Bob.
Thanks for your advice. You’re saying contribute the maximum amount to a ROTH IRA, and then when the money is withdrawn tax free at 59 years 6 months, use that money to buy dividend paying stocks. Did I understand that correctly. In addition to contributing to a ROTH IRA, what about the idea of buying dividend paying stocks now to get some income throughout the year before taxes?
@big.lew posted:
Read everything you can about investing money, whether into rental properties or the stock market. it is called Homework and you thought school was over, nope it is just beginning for you in Life. Buying rental property, find a real estate agent.
If you are interested in the stock market, look up online…Roth I.R.A…you may not understand everything shown, just re-read it
At your stated age of 19, you are allowed to invest $6,000.00 a year into a Roth I.R.A. That money you invest is after tax, when you go to withdraw that money at the earliest age of 59 years and 6 months of age, without penalties, it is Tax Free, what you do is buy dividend paying stocks, with that money in your account. You can make monthly contributions, as long you don’t go over the $6,000 limit. Most stocks pay quarterly dividends. A few stock traded companies are listed below for you to check out…P.S. I am not a stock broker.
McDonalds, Cisco, Intel, Walmart, Yum Brands ( think about Pizza Hut, Taco Bell, KFC). Yum Brands owns all three…Pfizer, Pepsi, Coke, Microsoft, just to name a few. these companies been around for a long time…think of other companies and type into the search bar of MSN Money etc for info.
You can also type your banks name into a search bar and see if they pay dividends, use for reference while doing your research, MSN Money, Yahoo Finance, (it is FREE) just type into there search bar. then you’ll get lots of info about a lot of companies and then when you’re ready to start, open an online brokerage account, using TDAmeritrade, Schwab, E-Trade, Fidelity, (pick one) follow there rules. Online account trading is free, but if you call the brokerage, it will COST you money.
Facebook, Google, Amazon, Tesla, Do Not pay dividends.
With any job you obtain in life enroll into the company retirement plans, Traditional IRA, 401K, Roth I.R.A., (yes you can have more than one).
Again i am not a stock broker. just a long time investor.
Good Luck to you Sir.
My name is Bob.
Thank you big Bob
Hello Bob,
At 65 I have felt inferior because I was not educated or felt confident and comfortable in investing/ having investment.
And I don’t share my private concerns about money with family; I keep to myself.
Are there any reliable sources of information on investing; like trusting YOUR intuition and not the industry gossip?
Mary, California
@bruce posted:
Thanks for your advice. You’re saying contribute the maximum amount to a ROTH IRA, and then when the money is withdrawn tax free at 59 years 6 months, use that money to buy dividend paying stocks. Did I understand that correctly. In addition to contributing to a ROTH IRA, what about the idea of buying dividend paying stocks now to get some income throughout the year before taxes?
Bruce, you got it wrong. but that’s okay. Yes you want to buy dividend paying stocks every month because in the long run it compounds over every quarter and every year you own the stocks. Sorry i did not make it clear enough for you that was my fault.
You contribute $500 a month 12 times a year for a total of $6,000…but every month you spend up to the $500 a month buying your dividend paying stocks. Example, Microsoft closed today (6-22-2020) at $200.57 a share, out of the $500 you could only buy 2 1/2 shares.
Cisco closed today at $45.16, so with the $500 in your account you could afford 11 shares of cisco.
Yum Brands closed today at $87.82 a share, so $500 divided by $87.82 will get you 5 and 2/3rds shares.
So this is what i would do if i were you, i would wait until i had 3 months ($1,500) of money in my Roth I.R.A. account then use that money to buy my dividend paying stock. Lets assume Cisco is trading at $45 a share in 3 months, take the $1,500 and buy 30 shares for total of $1350. leaving you with $150 in cash in your account along with the 30 shares of cisco stock. Then wait until you have added say $1,000 plus the $150 (left over from microsoft purchase) equals $1,150 and buy another companies stock, say Coke, which we will say trades at $45.75 a share and you buy 25 shares for total of $1,143.75. leaving you with $6.25 cash, plus the 25 Coke shares. Now you own stock in two companies. Using the D.R.I.P. program instead of taking the dividend money your brokerage house buys more shares of each company. And after 12 months you will have more shares of each company. I hope this makes more sense to you.
You may use the Private message thing on here to send emails to me. Click on my Icon and it should show up there.
@m.camillamarie.martinez posted:
Are there any reliable sources of information on investing; like trusting YOUR intuition and not the industry gossip?
Mary, California
Hello Mary. Thank you for your question, and the answer is yes. If i understand correctly and i do hope i make sense about this for you. Seen as you wish to avoid the gossip do this for me and you. Look around throughout your house, do you have spices, coffee, Pepto bismol, coke or pepsi, beer or wine, read the address printed on the package most are stock traded companies that pay dividends, ever shop at Walmart ? Have dog or cat food in your house ? How about potato chips ? Your electric company ?
Walmart is a stock traded company and pays a quarterly dividend. There stores are everywhere. Coca Cola and Pepsi are stock traded companies that pay quarterly dividends besides making coke and pepsi, they make chips, bottled water, cat and dog food too. McCormick and Company make spices. Bristol Myers Squib, makes pepto bismol and other drugs. Pfizer makes medicine. AT&T, make cell phone, landline phones, owns several T.V. companies too. Disney ? what can i say that you don’t already know.
Walmart, McCormick, AT&T, Bristol Myers Squibb, Pepsi, Coca Cola, Disney, are all stock traded and pay dividends.
Mary if i answered correctly and you need more help send a private message. Remember i am not a stock broker, just a long time investor.
Bob.
