Hey, investors,
We recently talked in the comments about how old you plan to retire and how you will enjoy your time off.
I also want to ask at what age did you become interested in investing and if you could give yourself some top advice what would it be?
A lot of beginners and myself find the advice of more experienced people very helpful.
Thanks for sharing your experiences and advice in the comments!
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I'd advise myself to buy more housing on a mortgage and not worry about it :D
Considering how much they have grown, I would then sell one to pay off the rest and retire:D
If I could have taken some advice those 3 years ago, I wouldn't have looked for a unicorn and invested in a classic... :-D
Yeah, I could use that advice, too.
So I learned my lesson only now... but the classic flew out again because of AI :-D
So I became interested in investing at 14. I'm too young to give advice. However, what I would criticize myself is that I should be more patient and not rush anywhere.
What I would have complained about is that I didn't really find out how currency conversion works and how to avoid unnecessary fees. Further, I should have known that there is such a thing as foreign exchange risk.
Then I sometimes wonder why I didn't invest something during the covid downturn when I was convinced it was a good idea. But unfortunately I wasn't interested in investing then.
I didn't really get active "until" my 20s.
Thanks for the advice, it's things like that to watch out for.
I would advise not to get caught up in the hype of a stock or sector. When I started, stocks like $TLRY-6.6% etc were quite popular. I lost part of my portfolio on that by getting in on the +80% jump.
Yeah that happened to me too, I was shopping at the top of the covid. 😂
One piece of advice - start earlier and invest even more🤣I started investing and trading at 15 and thanks to covid I was able to start doing it more and more.
I started at 15 and was just shopping in peak covid, if I could take advice I would definitely wait until the market calms down. That's why I'm in the red on most positions so far. I didn't start making better investments until early 2023, I picked up nicely there.
Everyone started somehow and in the rear view mirror I don't see it as bad. At least I made the mistakes right away. It would be more painful now.
I was very (positively) surprised how early some people started investing. If I could advise myself + others to focus on how to save as much as possible on fees, because they can cut a big chunk out of their profits in the long run. The ideal is to choose companies where you don't want to speculate on the share price development and have no problem holding them for 10-20-30 years, don't focus on options, futures or shorting, it's much riskier in the long run than a simple HODL and it won't deliver adequate profits unless you are one of the top performers.
For more than 90-95% of investors, it is much better to hold one ETF that contains the global economy and spend the rest of the time making money and social connections.
Thanks for the opinion, for now I'm trying to pick my own stocks, but I'm sure when I have some regular monthly income I'll invest in some ETFs.
😁 I started about 3 years ago to get interested in BTC blockchain technology (what can I do, I'm not an AIT). I switched from that to stocks a year ago, I enjoy them more. I started actively investing since last September, I wanted to earlier but conditions didn't allow me to do so, (because I was "serving a 5 year sentence in misjudgments, mainly trust in business) and I was in insolvency. What advice would I give to the younger me? 😊 ...don't do such a stupid thing as young with trust and naivety. And to recognize this mindset earlier and thus invest earlier.
I don't see anything too interesting in BTC and I'm mainly into the stocks. I guess I have not yet understood the main essence of cryptocurrencies.
I can see why not. 😊 Personally I see stocks and companies as something "tangible" is a company somewhere, products etc. Crypto is just something virtual. But it's also a complex topic. I've never dealt with altcoins, NFTs and stuff like that, it doesn't seem like something that has a lifetime of generations anymore and I just take it as someone who can walk the walk has it as speculation, trade, gembl. Or maybe some artists, creators see something in it. I had it a little bit backwards. When I found out about it, through a friend who used to mine it (BTC) and shows where I was referring to Dominik Stroukal, I didn't care about the price. Thus, I was interested in the technology. The blockchain. Through that, I actually learned how money works in the bank, how it is recorded, etc. I stopped seeing money as a piece of paper with a number that has a value (declining), but just as simply some accounting unit in a spreadsheet, and isolated the "pure" idea of BTC or blockchain as a cool thing that doesn't need a third party (banking institution). Today, I only put aside a minor part of my money in BTC and I follow the happenings around this one thing only from time to time and cheer for the IT world in this. 😊