sealybobo
Diamond Member
- Jun 5, 2008
- 123,803
- 22,169
I got a little bit of everything. I only have $50K in stocks. Spread it around. Don't put it all in one basket type of thing. My brother has millions invested with these guys. They laugh at me because before Covid I gave them $40K and in months it was $60K. Just like that. I called and said CASH OUT. He said I would pay penalties if I took it before 1 year. And this is a long term investment so leave it. It will keep growing he said. Fucker! Covid and Russia/Ukraine war happened and my $60 went back to $40K. Seems like for years it stayed around $42. WTF. What kind of return is that? Nothing!!! And I lost $20K. God damn it!Granted, interest rates are better than they were three/four years ago, but inflation and prices were more consistent back then, either way you/we still lose. You also mentioned you had "stocks" that were doing well, mutual funds (depending on which ones) are much safer.
Well now it's back to $50K. I think we did the math I've made about 5% a year. If Russia/Covid didn't happen I'd probably have $70K who knows. But yea, I don't like the stock market. Not if I can't buy and sell it when I want. I think it's a fucking scam.
I told my brother how different it is for regular people to save. We did the math. I think if I save $20K for 5 years at 5% I would have $26K in the end. So $6K. Big fucking deal. We did the math on my brothers investment. Same investment I'm doing just more money. I didn't ask how much but in 5 years he will make over $100K on his investment. Thus the saying it takes money to make money.
Still you got to invest the $20K. $6K is better than no K. LOL
I know a guy he's broke but has a nest egg where he could put $20K away away for 5 years and make $6K but he wants access to his money. LOL. Stupid. He knows he won't need it.