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Originally Posted by Muzzle of Bees
The OP is asking for advise. For over a decade I invested between $200 and $300 per month in mutual funds, stocks, bonds, etc. I got tired of not making any money. It did have some money left after 2008. I cashed out and payed off my house. That was the best investment I ever made.
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The market tanked in 2008 but it's literally doubled in value since then. If you sold everything in 2008 you would have missed out on enormous gains.
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I will let you do the math. As the price of stock increases you have to invest more to get the same amount of shares or you get less shares and less profit. You are also going to pay a fee for managing your money. You can chase your tail for ever and hardly feel empowered by the system.
You have as much a chance at making a profit by researching scratch off games and buying tickets for the games that still have tickets with big prize money available. The stock market = Vegas. If I was able to get in IPO's that were not already bought by big investors and banks I might have a different view.
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I disagree. This isn't how compound interest works. For example, starting with a balance of $0, if I were to invest the IRS' maximum-allowed $18,500 per year into a 401k plan at an average return of 6% annually, after 24 years I've got over $1M.
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Three things that will save you from getting desperate. Do not get married. Do not have kids and do not get into school debt from a crappy university.
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Now this is definitely something we can agree on
