I just opened a Roth IRA, and am ready to invest in the stock market

anderson750

I'm working on it Rose
Location
Price, Utah
Well, the FOMO got me.... I bought back in a couple weeks ago with my Robinhood account. I put 100% of what I had into Pinterest and it did quite well, selling today with a 40% gain.

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I picked up a couple more, just watching what they do. So far, my Robinhood account has seen a 120% return since I opened it. :oops:

I also tweaked my 401k holdings, dumped a couple poor performing options and reorganized where my money was going. My 18% return from when I started dropped down to 14.5% in the last few weeks, so I felt like it was time for a change.

I've said it before, but I enjoy this.... I'm pretty new to investing (and speculating) and making it work, but it's been a good experience!
Congrats on your success. I don't like worrying about so I have a long time family friend that handles all of my investments. He has done pretty well for me. Last year almost to well since I had to pay a fairly painful capital gains bill on my 2019 taxes.
 

Greg

Make RME Rockcrawling Again!
Admin
Congrats on your success. I don't like worrying about so I have a long time family friend that handles all of my investments. He has done pretty well for me. Last year almost to well since I had to pay a fairly painful capital gains bill on my 2019 taxes.

I just enjoy learning about the stock market and manging my own 401k, for a long time I've considered myself as someone who was bad with money... it's nice to see that's not always the case! I have lost some too, but the gains have been higher. I also feel better managing these account on my own. I have my RR retirement, but have no say on how that money gets invested.

Congrats on your high taxes! :skeptic: :D
 

TurboMinivan

Still plays with cars
Location
Lehi, UT
Just checking in with an update of sorts.

My 15 holdings are hanging in there. At the end of October, AbbVie announced a 10% increase to their next quarterly dividend payout, which I absolutely loved. And just a few days ago, Aflac announced a dividend increase of their own... by 18%. Yowza! Thanks in part to these increases, my current average payout is up to $57.94 per month. My goal for 2021 is to increase this to an average of $90 per month.

Speaking of next year, I've already gathered my $7000 deposit for 2021. I plan to transfer it into the Roth on January 2nd and fill out two or three of my current-but-not-full positions, plus start positions in six more companies. I've already been researching a variety of companies I would like to buy, and have compiled a lot of notes. We'll see which ones look like the best values when I am finally able to acquire them.
 

Greg

Make RME Rockcrawling Again!
Admin
Ah, so you didn't atually make any money the other day then. ;).
(It always makes me chuckle when people talk about how much they made or lost on a given stock when they didn't actually sell, and thus they didn't actually gain or lose anything.)



About that...

Cool story bro. I did sell and pocket a quick Grand, so.... :cody:

I didn't sell at the time you asked, because I was hoping to get a better return. It jumped up a bit more, then started trending back down and I got out.
 

MikeGyver

UtahWeld.com
Location
Arem
Selling is like this weird paradox for me. My money in crypto and stocks is just money to play with. Lets say it goes up 5x; what am I going to do sell it and just not have an investment anymore? I'm just going to let it grow. It's all percentage based so the more you have invested the more it's even worthwhile.
 

N-Smooth

Smooth Gang Founding Member
Location
UT
Selling is like this weird paradox for me. My money in crypto and stocks is just money to play with. Lets say it goes up 5x; what am I going to do sell it and just not have an investment anymore? I'm just going to let it grow. It's all percentage based so the more you have invested the more it's even worthwhile.

This is my struggle too. The wife and I both have money invested in our ESPP and somebody was telling me we should cash out the day of purchase since we get at least a 15% discount and usually much better. Like this purchase term that ends this month we will end up getting better than a 50% discount which is awesome. On one hand I can see cashing out and pocketing the cash but on the other I have a coworker that retired because he made so much off of his ESPP, buying shares for ~$10 years ago and they're worth $350+ now. So I try to look at it as a savings account that we don't touch because it should only gain value 🤷‍♂️
If our stock crashes we'll have bigger problems since it may mean we don't have jobs :rofl:
 

Greg

Make RME Rockcrawling Again!
Admin
Selling is like this weird paradox for me. My money in crypto and stocks is just money to play with. Lets say it goes up 5x; what am I going to do sell it and just not have an investment anymore? I'm just going to let it grow. It's all percentage based so the more you have invested the more it's even worthwhile.

My Robinhood acct is play money as well, but I'm getting to the point that I should be trading within my Roth so its tax free. I have a coworker who started playing with penny stocks and ended up making enough money to buy a ranch here in CO.

My hope is to keep growing the 'play money' acct until I have a decent amount for big returns and if that continues, probably pull 5% out a couple times a year to pay off debt, take fun trips, etc. But keep the bulk of the money working and growing.
 

anderson750

I'm working on it Rose
Location
Price, Utah
I just enjoy learning about the stock market and manging my own 401k, for a long time I've considered myself as someone who was bad with money... it's nice to see that's not always the case! I have lost some too, but the gains have been higher. I also feel better managing these account on my own. I have my RR retirement, but have no say on how that money gets invested.

Congrats on your high taxes! :skeptic: :D
Just got a call from the guy who handles everything for me. He took a substantial chunk of my portfolio and put it into an aggressive growth portfolio the middle of this summer. He said I am sitting at a 50% gain right now. They watch this very closely and move out of companies before it is to late.
 
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