don't be jelly i was a handmaiden of satan in another life

[socksuke_uchiha]

Rundown: rpanons is an anonymous community for role-play related topics. This place serves as a forum for game discussions, canon discussions, RP solicitations (ATP, game ads, open memes), and advice. The occasional off topic comment is inevitable, but please keep heated social and political topics to their respective communities. Posting them here will only get them frozen. Subsequent threads made to bypass a freeze will then be deleted.

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Comments

Investment advisor

[(Anonymous)]

Every day talking to people with more money than I'll ever make in my life.

Re: Investment advisor

[(Anonymous)]

What sort of advice would you give to a non-wealthy individual who is curious about investing? (but knows literally nothing about it other than "you put money in" "eventually you take more money out")

Re: Investment advisor

[(Anonymous)]

If you're interested in getting started, the biggest piece of advice I have for you is to moderate your expectations. Be very skeptical of wild success stories. Survivorship bias in investing is enormous, and what's often invisible is that the people pulling down the fat returns are only playing with a fraction of their money. Someone with a huge family trust fund can afford to play the "find the next Amazon/Google/Apple" game with a few dozen grand, but you get a lot of losers for every winner in that game.

Investing is a great way to build medium- to long-term savings, because unlike a bank savings account (or even most CDs) your money has the potential to grow faster than inflation, meaning that you're actually ending your savings period with more real purchasing power, not just more dollars. But that's the kind of success you're looking for, not doubling or tripling your money in a year or two.

Also, think about a solid goal. Yes, everyone in investing is in some way there to earn money, but goals are a lot more precise than that. Are you saving for retirement? For a kid's college education? For a down-payment on a house? Are you building a rainy-day fund with your extra income, and just want to park it in something that will not lose purchasing power over time? These have different considerations that go with them. Once you have a goal, that gives you a lot of the details you'll need to pick a strategy. Retire in 30 years? Sent the kid to college in 16? Buy that house in 7? Is your investment account a resource to tap if you need emergency money, or do you plan to lock it up and not touch it until your goal is reached?

Honestly, I could go on all day, but the biggest thing I want to emphasize is realism. Risk = reward, and risk-taking is enormously romanticized in American culture. That's a trap.

Re: Investment advisor

[(Anonymous)]

Are you a certified investments advisor, anon? What sort of advising do you do?

Re: Investment advisor

[(Anonymous)]

I'm series 7 and 66 licensed, and I'm debating going for CFP, since my firm reimburses for that course. Right now I do whole-life advising, so I've got clients with general investing goals, college savings plans, and retirement clients on both the planning and utilizing sides of the line.