Investing for your age

[Katrina]

Do you know that how you invest should be determined by what age you are? The reason is because as you grow older you don't want to risk your hard earned money by aggressive investment strategies but at earlier ages you can make up the loss easier. Investment is usually for retirement (not always) so think long term even with short term investments. What I mean by that is that the end result is to have enough money by the time you retire so you can be comfortable.

 

[MrDawn]

Do you know that how you invest should be determined by what age you are? The reason is because as you grow older you don't want to risk your hard earned money by aggressive investment strategies but at earlier ages you can make up the loss easier. Investment is usually for retirement (not always) so think long term even with short term investments. What I mean by that is that the end result is to have enough money by the time you retire so you can be comfortable.

I try to save. But I don't think I'm going to be able to retire until I'm ancient. I may have to look into some kind of retirement plan.

 

[USHost247]

I invest instead of "saving". I've turned $17,000 into around $190,000 in a year on stocks and cryptocurrency. My age is 28.

 

[Deleted member 49125]

I invest instead of "saving". I've turned $17,000 into around $190,000 in a year on stocks and cryptocurrency. My age is 28.

What advice would you have for people who are not knowledgable in stocks & cryptocurrency?

 

[Cam]

You should definitely make your investment decisions based on how old you are, and how much longer you plan on being in the workforce. If you're older and nearing retirement age, that's when you want to be conservative with your investments. You want to have very little risk in seeing your money disappear, as you may be without a paycheck soon. Blue chip stocks like Walmart/Apple/etc is typically where you want to invest. If you're younger, that's when you can take risks. That could be crypto, NFTs, up and coming stocks, and more.

 

[Katrina]

You should definitely make your investment decisions based on how old you are, and how much longer you plan on being in the workforce. If you're older and nearing retirement age, that's when you want to be conservative with your investments. You want to have very little risk in seeing your money disappear, as you may be without a paycheck soon. Blue chip stocks like Walmart/Apple/etc is typically where you want to invest. If you're younger, that's when you can take risks. That could be crypto, NFTs, up and coming stocks, and more.

That's one reason that my husband and I didn't invest heavily into Dogecoin even though I've hinted about it in smaller amounts. He's just not interested yet in something so risky.

 

[USHost247]

That's one reason that my husband and I didn't invest heavily into Dogecoin even though I've hinted about it in smaller amounts. He's just not interested yet in something so risky.

May 8th is going to be a big day for Dogecoin. #Dogefather #SNL #ElonSNL #Dogecoin

 

[Katrina]

May 8th is going to be a big day for Dogecoin. #Dogefather #SNL #ElonSNL #Dogecoin

I think you might be right! You'll reach your goals in no time 😀

 

[USHost247]

@Cam!
We'll be talking about the sale of FP once I become dogecoin millionaire.

 

[Cam]

@Cam!
We'll be talking about the sale of FP once I become dogecoin millionaire.

On another note, I've been using Fidelity's stock app to buy into lots of penny stocks that aren't even listed on Robinhood. Stocks that are .001 and crap like that. Maybe the next Amazon is somewhere in the mix. 😛

 

[USHost247]

On another note, I've been using Fidelity's stock app to buy into lots of penny stocks that aren't even listed on Robinhood. Stocks that are .001 and crap like that. Maybe the next Amazon is somewhere in the mix. 😛

That Dogecoin today.

$0.60

 

[Deleted member 50656]

That Dogecoin today.

$0.60

I bought my first lot of Doge today - must say I was inspired by this forum to do so 😅

Hopefully I'm not too late - $1 coming soon I think!

 

[Cam]

That Dogecoin today.

$0.60

Call me a quitter, but I went ahead and sold out. I'll settle for $0.68 a coin. Maybe I'll regret it come SNL though. 😛

I bought my first lot of Doge today - must say I was inspired by this forum to do so 😅

Hopefully I'm not too late - $1 coming soon I think!

It's scary getting in that late. 😛

 

[USHost247]

Call me a quitter, but I went ahead and sold out. I'll settle for $0.68 a coin. Maybe I'll regret it come SNL though. 😛



It's scary getting in that late. 😛

Late? We just getting started!

 

[Deleted member 50656]

Late? We just getting started!

😅 Hopefully so!

 

[Cam]

😅 Hopefully so!

I’d say a lot of people dumped their Doge during SNL. Price went right back down into the $0.50 range. Hopefully it’ll jump back up for June 9th.

 

[Katrina]

I’d say a lot of people dumped their Doge during SNL. Price went right back down into the $0.50 range. Hopefully it’ll jump back up for June 9th.

What's happening June 9th? I googled that date and it's National Sex Day. I don't see the connection? LOL

 

[Cam]

What's happening June 9th? I googled that date and it's National Sex Day. I don't see the connection? LOL

June 9th = 06/09 = 69

It's just a date that has been talked about a lot along with April 20th AKA 4/20.

 

[Deleted member 25872]

@Cam! or @ChrisGrigg You got any SHIB INU token on your portfolio? Super cheap.

 

[Katrina]

June 9th = 06/09 = 69

It's just a date that has been talked about a lot along with April 20th AKA 4/20.

So why is that a big investment day? LOL