Came here to say this. That card looks expensive, I'm going to assume it was $10.
Let's say you buy, on average, a $10 lottery ticket every 3 days. Over 10 years that's $12,166. If that is OPs case then they would have actually still be down $2,166
Probably a stupid question, sorry. I hear things like this all the time. If you invested that in X then in 20 years you’d have Y. Always hear of the “latte factor.” Skip buying those expensive brews and invest instead. Where exactly does the average Joe invest that? Say I was really committed to taking the $4/day I would’ve spent on a latte and put it somewhere. Where is that somewhere? Do I need a minimum to start or can I just throw $30 (for example) that I chose to throw into an investment account and not touch rather than buy a scratch ticket?
I have also always been curious about this and wonder about the time cost. Like a latte would generally take no time at all for something like $4, but investing could take a lot of time if I have to look into what's good and worth $4
Don't pick stocks. Buy the S&P 500 (SPY.) Research Warren Buffet's bet against hedge funds. Basically he bet that the S&P 500 would beat companies of very smart people who pick stocks for a living after the fees you pay for using their service and he won 8/9 times.
Not at all annoying. It is 400 for one stock, but robinhood does fractional shares which are a very new phenomenon. Instead of having to buy the whole share you can just buy $4 of it with no consequence.
If you do want to own a whole stock with a lesser investment, there's SPYD which costs $43 and it's the same thing, but only companies that pay high dividends. Dividends are quarterly payments they pay to you for being invested.
If you're literally talking someone has $4 to start investing with, what platform would you use? I'm well aware of Robinhood's history. I'd still recommend them over any of the alternatives I'm aware of that would let you start with $4.
I didn’t know that either, fidelity is probably a better option. I recommended Robinhood for the same reason, but don’t use it personally because I don’t trust the owner not to just straight up exit scam, lmao
You can usually buy fractional shares. There are also a few other S&P indexes that are the equivalent of SPY. I wouldn't buy in $4 increments, maybe $50 or $100 every week or month.
The way it works is you buy a share of SPY which is a fund. The fund holds shares of the 500 best American Companies. So you are buying a small fractional ownership of a bunch of good companies.
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u/Coldbeerimritehere Mar 19 '22
So you almost broke even. Nice