Getting Started

[joeljenewein]

I'm interested in starting to invest in stocks with the goal of saving for the future and eventually paying for a hunt every year. Seems like there is a lot of interesting information here which made me very happy - Hunt Talk can now be my one stop shop for hunting info and financial.
Background on my situation will likely help - I'm 29 and married, hoping to be moving out of Los Angeles in the near future for many (I believe obvious) reasons. Can start investing with a small flexible fund of $1000. I like the idea of day trading but know it is likely not the long term investment route. I had initially thought of day trading to earn some extra cash, and then I can move that extra cash around to start investing in long term shares. Long term (way down the line) I'd like to invest in real estate as well, but like I said that's way down the line. I believe 29 still qualifies as young, but if it doesn't, I certainly qualify as inexperienced. Any thoughts from those who got started similarly would be appreciated.

 

[SAJ-99]

Welcome to the forum. I think people have been avoiding this post for a variety of reasons. Day trading sounds attractive to some, but it is a tough way to make a living. Starting with $1000 isn't going to do much, but I like your optimism. Open up a Schwab or Robinhood account and give it a try. Let us know how it goes.

 

[JohnCushman]

Invest in weed growing... I have a buddy that invested a modest sum while it was talked about here in CO, and he's a millionaire now since it got passed. It's happening all over the place.

 

[SAJ-99]

There you go!

 

[zpooch]

Look into Acorns or other robo advisors that don't take much capital to start

 

[Pucky Freak]

If you want to save $ for hunting, just put some away in a basic savings account, then you don’t have to worry about declining value and not be able to fund your short term hunting adventures.

 

[NEWHunter]

If you’re not taking full advantage of your company’s 401k match, start there. If you’ve done that, then invest your $1,000 in an ETF that tracks the market.

 

[joeljenewein]

Thanks to all, appreciate the variety of options

 

[westbranch]

It would be silly to start with day trading and then move to long term investing. Day trading/stock picking should be at the end of your priorities. Without much more background you should start with establishing emergency fund (up to several months of expenses or whatever makes you comfortable), maximizing employer match on retirement accounts, paying off debt, max HSA accounts, additional into employer 401k and/or traditional/Roth IRAs, then maybe start doing some after tax investments in low cost ETFs or mutual funds. One you have all of that established, then throw some money at individual stocks.

Here is some good reading:

Getting started - Bogleheads

www.bogleheads.org

Prioritizing investments - Bogleheads

www.bogleheads.org

To pay for current hunts, just budget it out of current spending. Hopefully in 10-15 years those after tax investment would be kicking off some funds that might fund some hunting.