Is it even worthwhile owning stocks, even the smallest and cheapest types, as a novice?

[itsclearlynicholas]

After all, as an ex gambler, I feel like I already know the answer: no and that super is different because that's out of my control/decided by super aka pension companies whatever it's invested in. Going back to personal investing, is it worthwhile or just another folly for suckers? Lol. Like gambling and gamblers "fools money" for the fools and only say 2 percent winners. Lol

It's for fools

Majority will lose money

Only a few make any money, if at all, and after taxes also considered

I'm not sure

[NaultD]

It's like planting a tree. The less you fuss and think about it, and just give it time, it will grow. The definition of patience and discipline across a lifetime.

My grandparents and parents have passed and left a good amount of money, and that money in a high yield savings account made more money in a month than any other money doing nothing. The crazy thing is that is just meeting inflation.

I've been reading Simple Wealth, Inevitable Wealth by Nick Murray. It's definitely not a get-rich-quick scam but endless lessons in patience and discipline.

[itsclearlynicholas]

Savings account versus stocks? Surely savings account wins if rates at the time of mythical savings accounts if taxed already because with shares and buying or selling or dividends, taxes get complicated and heavy paper work surely? Then you gotta pay potentially a financial tax accountant for whatever and then it's like in my mind "why the hell did I ever buy into shares (again)"? 😭

[NaultD]

High yeild savings account aren't consistent and ultimately trend inflation in the course of a life time but are quickly avaliable.

Stocks are 5 to 10 even 20 long term that get the to 10% consistent returns.

The part of the book also says hire someone else to do the work at 1%. The stocks are upwards of 10% and 1% is penny to the cost of buissness of getting wealthy.

You can't beat that exchange rate on anything else in life. Then it doubles down on patience and discipline.

[itsclearlynicholas]

So the savings account wins right? I knew it did ✌🏻 😂😆

[NaultD]

It pays next morgage but it won't be there when we are 90 to 100.

[jamesgoldman]

It depends, long term it'll pay off if you buy hold and keep going but day trading isn't very likely to make money unless you know something or just take a gamble

My friend in exotic rentals has dabbled and done well
He bought shares in Flybe before Virgin Atlantic bought them and made £40,000 in a week
He also bought travel companies in April 2020 and could sell for 70% over what he paid

[NathanDavis]

I gambled too, so no...

no stocks for me

land and property...

[itsclearlynicholas]

Is anything and everything technical a gamble? Land etc

[NathanDavis]

technically, yes...

but then, you have gambling but you also have educated/calculated risks

[itsclearlynicholas]

Mmm 😋 which is also a gamble 😜

[itsclearlynicholas]

Variables ,😁 is life 🧬

[NathanDavis]

I come from poker... so my range of betting is always a calculated one

I do bet on the odds, not the thrill

[itsclearlynicholas]

Mmm 😋

[msc545]

It's a scam and a waste of money.

[itsclearlynicholas]

Oh do tell with your life experience sir? I'm all eyes and ears please 👂🏻👂🏻 👀

[Kelly6]

yes but to keep them for long term