Online Investing

[TheWhiteNinja978]

Does anybody here invest their money online? I been trying to find some websites but I've been having some bad luck, anyone got a suggestion?

 

[Cam]

Does anybody here invest their money online? I been trying to find some websites but I've been having some bad luck, anyone got a suggestion?

What kind of investing are you referring to? I don't have Bitcoin or anything like that, but I own plenty of websites that I guess might have a little bit of value. I'm only losing money at the moment though.

I also sell video games on eBay, and I've reached the point where I'm purchasing at least 25 video games each week to flip on eBay. While I have physical inventory, I'd say that it's safe to consider this an online investment, because eBay is what makes or breaks me.

Finally, I've got a portfolio of quite a few different stocks that I try to check at least one a day. I'm not a serious trader, but I'd say the stock market is definitely something worth investing into. I just wouldn't ever invest money that you cannot afford to lose. It can get risky, given that the economy is basically a cycle of ups and downs.

 

[Friendly Survival]

but I'd say the stock market is definitely something worth investing into.

Only if one have the time and expertise, otherwise I would go with a more "managed" option to let the professionals do it for you. But as with anything the more labor is required on their end the more of the cut you will have to give. But at least in theory you will generally earn somewhat more and/or limit your losses. Than if you did it 100% yourself.

Personally though I would rather reinvest into a business that I can more control over than just sticking funds somewhere and hoping to "win big" (unless of course savings we all need a saving account of some sort).

 

[Cam]

Only if one have the time and expertise, otherwise I would go with a more "managed" option to let the professionals do it for you. But as with anything the more labor is required on their end the more of the cut you will have to give. But at least in theory you will generally earn somewhat more and/or limit your losses. Than if you did it 100% yourself.

If we're still talking about the stock market, I assume you're referring to mutual funds? I've actually got a 401k set up with my employer, and it's invested in a few different mutual funds as well. Diversified mutual funds definitely pose less risk, but that also typically means less reward.

Only if one have the time and expertise, otherwise I would go with a more "managed" option to let the professionals do it for you. But as with anything the more labor is required on their end the more of the cut you will have to give. But at least in theory you will generally earn somewhat more and/or limit your losses. Than if you did it 100% yourself.

Personally though I would rather reinvest into a business that I can more control over than just sticking funds somewhere and hoping to "win big" (unless of course savings we all need a saving account of some sort).

You should consider getting a savings account with with an online bank, such as Ally. What kind of interest rate does your current savings account have?

 

[Friendly Survival]

If we're still talking about the stock market, I assume you're referring to mutual funds? I've actually got a 401k set up with my employer, and it's invested in a few different mutual funds as well. Diversified mutual funds definitely pose less risk, but that also typically means less reward.



You should consider getting a savings account with with an online bank, such as Ally. What kind of interest rate does your current savings account have?

My is at 0.0015% if I remembered correctly but that was from awhile back. I am not sure on the "right now" rate though.

 

[Cam]

My is at 0.0015% if I remembered correctly but that was from awhile back. I am not sure on the "right now" rate though.

Is that with a random local bank where you live? There are a few online banks that have awesome interest rates with their savings accounts. They may not have physical branches, but so long as they are FDIC insured, I'd say there's little risk.

 

[Friendly Survival]

Is that with a random local bank where you live? There are a few online banks that have awesome interest rates with their savings accounts. They may not have physical branches, but so long as they are FDIC insured, I'd say there's little risk.

That is correct indeed. How hard it is to prove your ID and other info? Do you just need your last four SSN and put in other personal details for automated screening? Or is it front and back ID, bill, and etc complication?

 

[Cam]

That is correct indeed. How hard it is to prove your ID and other info? Do you just need your last four SSN and put in other personal details for automated screening? Or is it front and back ID, bill, and etc complication?

I don’t recall honestly, it’s been years since I set it up. I assume you’d need to provide your full social and then your basic personal information. It doesn’t ask for anything unreasonable.

 

[Friendly Survival]

I don’t recall honestly, it’s been years since I set it up. I assume you’d need to provide your full social and then your basic personal information. It doesn’t ask for anything unreasonable.

I see, I will has to look into it to see on the specifics and such.

 

[Cam]

I see, I will has to look into it to see on the specifics and such.

Let me know if you have any questions. I’ll help anyway I can.

 

[xXInfectedXx]

Yes, but not online. I invest my money in high-interest bank accounts ad the interest in paid annually (yearly). Currently have my savings stored in a 3.25% annual interest account, and when I'm 18 I'll change it to 5%.