I guess that's how they sold the pension fund scam. In reality most old people I know are worth too much that it means nothing to them or they're too poor that the pension doesn't cover their daily living costs.True, many people can't control themselves which is why, in my country, the government takes your money to give it back to you when you're 67... but I've been raised to be responsible with money so I could pull off retirement as a low spender.
That said, 1M now would be a bit of a challenge, since I'd still have 50 years to go before I die
But still. For example, if I could achieve a stable, low-risk 5% investment strategy, minus inflation and taxes would still net like 30k a year which is still an above average income over here.
The one big risk would be health insurance though, gotta be really careful that you won't get ruined by high premiums in old age.
Anyway, it's just a what-if game. 1M means you have to be careful, but you can pull it off.
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Tenacity
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But BB keep it real...........nobody can truly "learn" to be a good trader because being "good" requires that in some form or fashion, you have some sort of INSIDE information. No external person sitting on their couch has such information.
- Before stocks used to be all about individual fundamental analysis. You sit down, study companies, predict ones that you think would be around for the next 20 years, and buy their stock when you believed it was trading at a "discount". You bought in, rode the price up, and when it got up to what you thought was the top, you got out or held on further.
- Then "experts" came in and said the above strategy was all about "timing the market" and that you can't effectively "time the market". So they developed another theory that said you just buy an aggregate sample of the market or buy an index, and hold it for 20 years. They said that folks trying to beat the market usually don't do it 90% of the time, so just buy an S&P index and hold forever, or hold for 20 years. Also don't pick and choose when you buy, just buy right now (immediately) and start holding through ups, downs, crashes, bubbles, busts, booms, whatever.
- Now the "experts" are saying the stock market is in a big bubble, will crash, and that people buying in today will never see their holdings recover.
Isn't it apparent at this point that the fvcking EXPERTS have not a damn CLUE what they are talking about lol? Nobody knows what the fvck the stock market is going to do, because the stock market isn't the STOCK market anymore........it's no longer about the profitability, market share, and dominance of the companies you are holding.....the appreciation or depreciation of your "paper" is tied to bullshyt that has nothing to do with your actual holdings. If the Chinese President cheats on his wife and gets his dyck svcked, your STOCK goes down.
I'm not telling anybody what to do in terms of investment advice, but personally, I'm not putting shyt in the stock market. I don't even know what the hell that shyt is anymore, it's damn sure not based on actual fundamentals like it used to be. That shyt is nothing but a propped up Casino. Call it like it is lol.
Bible_Belt
Master Don Juan
But BB keep it real...........nobody can truly "learn" to be a good trader because being "good" requires that in some form or fashion, you have some sort of INSIDE information. No external person sitting on their couch has such information.
That would be Random Walk Theory, which is what they teach in the academic world. I have known too many successful traders for it to be true, though. Hell, I had a profitable account at every trading job I had, which isn't supposed to be possible. There's no inside information or anything like that involved. I've seen just as many guys lose money trying to trade off inside information as make money. Sometimes stocks go down on good news.
Part of what you're saying, I do agree with. You're arguing against investing, which I also think is silly. No matter how much you can find out about a stock, that information is already priced into it. So give up on that idea. Just buy what goes up. Sometimes I would come home and see a stock I traded that day on tv, because after the market closed, it announced some good news. Did I have access to that news? No, but I did buy the stock, because it was going up all day long. Obviously, somebody knew something. That's good enough for me. Price action will tell you all you need to know. That's the art of trading.
That would be Random Walk Theory, which is what they teach in the academic world. I have known too many successful traders for it to be true, though. Hell, I had a profitable account at every trading job I had, which isn't supposed to be possible. There's no inside information or anything like that involved. I've seen just as many guys lose money trying to trade off inside information as make money. Sometimes stocks go down on good news.
Part of what you're saying, I do agree with. You're arguing against investing, which I also think is silly. No matter how much you can find out about a stock, that information is already priced into it. So give up on that idea. Just buy what goes up. Sometimes I would come home and see a stock I traded that day on tv, because after the market closed, it announced some good news. Did I have access to that news? No, but I did buy the stock, because it was going up all day long. Obviously, somebody knew something. That's good enough for me. Price action will tell you all you need to know. That's the art of trading.
Huffman
Master Don Juan
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True. Pension funds work mainly if there's lots of young people earning big bucks, and few old people who are supported through the system. Nowadays, because of demographics in the first world, it's the other way round. Here in Germany, the pension system has treated people well from WW2 until about right now, but the pensions are barely sufficient anymore and when I'm old there probably won't be anything left.
Can you give some must reads to be able to turn the odds in your favor? I'm not really interested in the stock market and get quite bored quickly when reading about it. But if I would get a 5% ROI I'd be happy with some easy and simple tips that someone who doesn't know anything about it can apply.
Bible_Belt
Master Don Juan
http://www.trading-naked.com/library/jesse_livermore.pdf
I hope you don't mean an annual 5% return. I could do 5% in a couple weeks. In the good ole days, with massive company leverage, meaning my million dollar account had about $10k real money in it, I did 5% in a day quite often, !0% on my best days. Those times are never coming back, but 5-10% a month does not seem that unreasonable when I used to do that in a day. And I wasn't even that good, compared to most of the guys I worked with. My typical day was only a couple hundred bucks, but when the firm is making 2-3% a day off their money invested in you, it means you get to keep your job, which is all I wanted. I rode three companies into the ground that way. I never got fired; they just went out of business. Decimalization and computer trading killed the intraday momentum that made day trading possible, but the same techniques still work when applied over a longer time frame.
There is a stock trading simulator at walltreetsurvivor.com - I'm sure there are others. If you want to learn to trade, you learn by doing, even if it is with fake money. The stocks I would pick would first get my interest from a list of 52-week highs, then sorted by volume, then tracked on a chart to time the entry point. There's still a lot more to it, but those simple ideas will get you started.
I hope you don't mean an annual 5% return. I could do 5% in a couple weeks. In the good ole days, with massive company leverage, meaning my million dollar account had about $10k real money in it, I did 5% in a day quite often, !0% on my best days. Those times are never coming back, but 5-10% a month does not seem that unreasonable when I used to do that in a day. And I wasn't even that good, compared to most of the guys I worked with. My typical day was only a couple hundred bucks, but when the firm is making 2-3% a day off their money invested in you, it means you get to keep your job, which is all I wanted. I rode three companies into the ground that way. I never got fired; they just went out of business. Decimalization and computer trading killed the intraday momentum that made day trading possible, but the same techniques still work when applied over a longer time frame.
There is a stock trading simulator at walltreetsurvivor.com - I'm sure there are others. If you want to learn to trade, you learn by doing, even if it is with fake money. The stocks I would pick would first get my interest from a list of 52-week highs, then sorted by volume, then tracked on a chart to time the entry point. There's still a lot more to it, but those simple ideas will get you started.
learn price action. If you have a few k to spare then go check out charlie burton at ezeetrader, he did a documentary on the bbc, the real deal. Btw it takes about 5 years, 8 hours a day watching a screen to get good at this.
That's BS.Hey guys just so you know you have a 1 in 5 chance of dying before you hit 65