I am self employed and I need to invest some money for later in life. I am 47 YOA so I am starting very late. I know nothing about investing so help a brother out. What would you recommend?
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Advice for self employed
- Thread starter rightway1974
- Start date
Best advice I can give is pay yourself first and start saving for emergency fund then investing. I like investing in dividend stocks to get growth and an income stream. I am sure you will get some other insights on some more aggressive techniques.
Bank on social collapse..Liquor and bullets.
Real-estate worked well for me.
Here's some advice. The stock market, real estate market, etc are all in massive bubbles right now (they're priced significantly higher than what they're really worth). They're going to crash. They will either crash down, as in their price goes down dramatically, or more likely they will crash up, as in their price goes nominally higher but nowhere near as fast as inflation is destroying the purchasing power of the US dollar, so the amount of goods and services you could purchase were you to cash out would constantly be going further down despite the nominal price continuing to go higher.
You probably want something to hedge yourself against inflation. Gold and silver are good. Some people like crypto currencies, but I personally don't. Good luck.
You probably want something to hedge yourself against inflation. Gold and silver are good. Some people like crypto currencies, but I personally don't. Good luck.
Invest in what you know. Learn and prepare for bargains. I own stocks, land, metals and art. Made money with all. Most people don’t know when to get out or buy when the price high. Buy when it’s low, sell on the up swing.
pay off debt, then emergency savings, then invest.
The biggest thing, save 10% of your income for your estate (you and your family). Not for anything but investing. Never fall in love with your investment. In my youth, I would buy over grow land, clean up the place so a buyer can see it. A bargain is a bargain if you can use it yourself or you know where to sell it.
Take advantage of the crypto bull run now.
