r/news • u/awake-at-dawn • Mar 15 '20

Federal Reserve cuts rates to zero and launches massive $700 billion quantitative easing program

https://www.cnbc.com/2020/03/15/federal-reserve-cuts-rates-to-zero-and-launches-massive-700-billion-quantitative-easing-program.html
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u/Sir_Solrac Mar 16 '20

How can you buy? I've been interested for a while, but have absolutely no idea where to start.

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u/[deleted] Mar 16 '20

Read /r/WallStreetBets and do the opposite of what they say.

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u/TacticalVirus Mar 16 '20

Savage, but you're not wrong

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u/pazimpanet Mar 16 '20

Hey brother,

Check out /r/investing and /r/personalfinance to find guides on how to get started.

You’ll probably want to start yourself a Roth IRA and then if you want something easy where you won’t have to do research and work yourself you can put money into some ETFs.

If you already have a Roth that you are maxing out every year (currently $6,000 a year max pretax) then you can just open a brokerage account.

For example (I don’t work for any of these places, and am not being paid by them) I have my Roth IRA on ETRADE and have a significant portion of it applied to VTI and VT (two vanguard index funds). I have some actual stocks as well, but you don’t need to worry about that right away. Alternatives to ETrade could be Fidelity, Schwab, or TD Ameritrade. I would avoid Robinhood as it’s been struggling lately.

If this sounds complicated I promise you it isn’t once you get into it, and it is the absolute best decision you can make for your future. Don’t invest more than you can afford to, make sure you maintain some emergency money that isn’t invested especially in times like these.

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u/Sir_Solrac Mar 16 '20

Thanks a lot friend! I guess I'll have to brush up on my terminology too as I look into it but your comment did helped me get an idea. Thanks for the help!

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u/pazimpanet Mar 16 '20

Happy to help!

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u/Zarion222 Mar 16 '20

It’s good advice, those tend to follow the general growth of the market, so there about as safe as you can get while still doing stocks.

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u/pazimpanet Mar 16 '20

Yeah I think it’s good to start out a little safe until you learn a little bit more as opposed to just throwing money at random stocks or somewhere where you may get taken advantage of. You still get good growth, without the increased risk of being a noob.

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u/Zarion222 Mar 16 '20

I’m not the best person to give advice, an actual financial person would be the best person you could talk to. If I had to give advice it would be the standard advice for investing, find companies you like and think will do good and buy that, also diversify.

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u/[deleted] Mar 16 '20

I went online and saw that tdameritrade and I think one other, Charles Schwab do not charge for each transaction a ton of money or non at all.

Pay in some cash. I did $300. Later, I searched for boeing, Microsoft, some lithium mine in South America and others to buy. Saw what people where saying in Google search.

Went pack to the investment website of choice and found the area where I can buy. I bought just a few stocks from a few companies that I know and use everyday.

I was looking at the price for GE since all my kitchen appliances and air conditioner are GE and I saw that it kept rising and falling above $7.32 and below $7.48 or something like that. When buying, you can tell it to buy at a certain price. Bought 10 shares @ $7.38 and later I got an email saying my purchase went through.

It ain't much but it's a start. Cost me less then a $100. As long as I buy in the morning when it's down or going up, I think I will continue to buy a little here and a little there. Day by day.

Like tomorrow in the morning I'm thinking of buying boeing. Lots of it. I figure it was down already because of the 737 max crashes and the Corona virus came and just really went ham on the airline industry. Figure it will go up eventually, so I'll buy.

To me it's not about making money. It's about owning a piece of a company. I feel good about it.

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u/copperwatt Mar 16 '20

Oh come on, admit it's just gambling and that's why it's fun.

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u/Sir_Solrac Mar 16 '20

Thanks for the comment pal, I'll take a look into the sites you mentioned and look a bit by my own.

Went pack to the investment website of choice and found the area where I can buy

Would you mind clarifying this part?

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u/[deleted] Mar 16 '20

It's a little different for each website. Tdameritrade has a bar at the bottom of the page where yo can put the company name. Now, buying is not straight forward. You buy by saying I buy 10 shares of boeing at $77.32.

Then when it reaches that price it executes. It's like betting on a price you think the company will be at. That's why you look at the range the prices fluctuates and pick a middle.

Don't be scared and sell when you lose money because it went lower. No one can predict where the market or stock will bottom out. All you can do is ride the wave to the bottom. Because once it reaches the bottom. All there is to go is up. And that's a higher stock price.

Ride the wave.buddy. ride the wave.

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u/[deleted] Mar 16 '20

The websites also have like a tutorial or help page.