Trading Tips

[Justin Passing]

Because it is duller than dishwater.

It was un-dull to get to a point where we'd never have to wonder if we'd have enough money for whatever we wanted/needed.
I wish I'd started 40 odd years ago.
If you work out how much you might need, the figures may be surprising. A cheapish "home" is about a grand a week, but the rate their prices increase is way above inflation. It'll double in 10 years (8%).
For an annuity to pay that, you need of the order of £1-2m, depending depending.
Starting with 20k, you can get to £1m in 50 steps of about 8%. (not connected with the previous 8%)
Once you know what you're doing, 8% in a day is very ordinary on the SM. At 5x leverage it's only a 1.6% move. You would only need it once a week to get to 1m in a year. It (8%)would have taken you an hour and a bit on Microsoft today.
The catch, is that you wouldn't normally be using your whole pot every day, so it would take more steps. Even so, it's weeks not years.

Your pious passive "investor" would have got about 10% p.a. in a simple index fund, over the last 20 years, taking 20k to 150k. That would run out in under 3 years in a chez nous. Doing just a bit better than the S&P 500, say 15%, would have got you to about 330k. Better but still nowhere near good enough. If you'd consistently used the second best sector - which you'd have to be aware of and switch to , say every month or two, you'd have multiplied by about 100 over 20 years. So your 20k would be enough. It takes effort though. You can't just sit on your backside.

could you start spending large chunks of it on yourself?

Too late, really. Duntravlin. Dunmost things. Dunwalkin too. Knees have no cartilage so hobbling range is maybe 20m with sticks. Nerves are shot so a mobility scooter makes me a ball of pins n needles.
My GP sent "the social" round. Nothing useful there really but she was pleasant enough so I expressed interest in a "Taxicard". Free rides. woo hoo, but I don't need to go anywhere.

 

[noseall]

It was un-dull to get to a point where we'd never have to wonder if we'd have enough money for whatever we wanted/needed.

The subject will always be dull to me.

Whether it's listening to gullible gamblers betting on osses or stock marketeers or people just talking about how much money that have made or how great their pension is or how much money their house sale made them - I find the whole thing utterly boring and tedious, to the point I either glaze over, swiftly change the topic of conversation or leave.

Privately, I find making and earning my own money rewarding, yes of course I do. But we have to deliver a product to do that. There is little, to the whole process, that I'm not involved in. The kick for me is customer satisfaction, to the point where they are keen to pay and keen to recommend. I've had some very lucrative jobs and some very ordinary, break-even type jobs. Ho hum.

 

[pete01]

Privately, I find making and earning my own money rewarding, yes of course I do. But we have to deliver a product to do that. There is little, to the whole process, that I'm not involved in. The kick for me is customer satisfaction, to the point where they are keen to pay and keen to recommend. I've had some very lucrative jobs and some very ordinary, break-even type jobs. Ho hum.

I agree with that I have to work for all my money, but if I could get the same amount looking at a screen for an hour here and there I'd probably do that instead, wouldn't you?

 

[noseall]

I agree with that I have to work for all my money, but if I could get the same amount looking at a screen for an hour here and there I'd probably do that instead, wouldn't you?

I do both.

 

[pete01]

I do both.

Oh, fair enough.

Why not give some advice then?

 

[Highway Man]

Why not give some advice then?

It would be as dull as dishwater if he did. There is also the point of would you believe him?
Think on !!!!! [TM]

 

[noseall]

Why not give some advice then?

You mean as well as 50'000 advice posts I've given?

 

[pete01]

You mean as well as 50'000 advice posts I've given?

Well instead of saying this is dull and boring you could have used those wasted posts to say I do this or that try this if you're new to it etc etc?

 

[Highway Man]

Well instead of saying this is dull and boring you could have used those wasted posts to say I do this or that try this if you're new to it etc etc?

Exactly..[TM]

 

[motorbiking]

How are you getting on, the markets are about 1% lower than when this was first discussed. You have a chance to buy.

 

[noseall]

Well instead of saying this is dull and boring you could have used those wasted posts to say I do this or that try this if you're new to it etc etc?

There are currently 8 trillion ways to lose money and 8 trillion ways to make money.

My advice - do what you enjoy.

 

[motorbiking]

If you don't have a Nest egg as JohnD calls it, then better change that to

enjoy what you do.

 

[Odds]

If you don't have a Nest egg as JohnD calls it, then better change that to

enjoy what you do.

change that to what?

 

[noseall]

enjoy what you do.

Another builder, a little older than me 'went big' and employed four gangs. He had major surgery for a stress related heart condition. He was always miserable and stressed, morning noon and night.

Now he is dead - suicide.

His son took up the reins and has slimmed it all down to a manageable company. He told me he now plays golf and wished he's took it up when we first talked about it years ago. No doubt he'll even try skiing at some point. He's happier now than he's ever been, since his tragic 'life lesson'.

Money and it's slavish worshippers, eh.

 

[Brigadier]