buying stocks

M

miguel

New Member
could someone become rich by buying stocks and if so, how long would they have to wait to see some serious return on their stocks assuming they became millionaire rich???? 30 years or more or less? how long would someone typically have to wait in order to become millionaire rich with their stocks? would they have to wait a really long time assuming that they ever saw some serious potential here as far as stocks go or is this just an urban legend? whats the deal with buying stocks and some people claiming that they became millionaire rich or any kind of rich again assuming they maxed it out? would there be any stocks experts here on this forum regarding retirees and their stocks thinking someone made some serious money with their stocks? the only part i cant figure out is how long they would have to wait to see some serious return on their stocks? rsvp.
 

there is no answer to this question . for us it took me investing since the 1980's in plain ole fidelity funds through my 401k to pass a million . on the other hand it took less than 10 years to quadruple that amount in special kinds of real estate investing in manhattan ...
 
Back during the dot-com era, a lot of millionaires were created, like Mitt Romney. It really depends on how much cash you are willing to risk and then how good of a stock picker you are. But, you have to be willing to put a lot of time and energy into becoming either a good stock picker or a good day trader, or both.

We all have stories about someone we know who cleaned up in the market and so do I. I also have stories of people that I know who lost their shirt in the markets as early as 2009-2010.

If you go down this road, remember; there are many ways to invest to make money and not just by trading equities. Real estate, commodities, options and even buying and selling currencies can produce some high yields and even quick turnarounds. Best advice that I would give anyone starting out in investing is to never risk more than you can afford to lose. Not so much buying and selling currencies anymore since we have now entered into a global economy. Funny how that worked out. Banks and institutional investors did much better than the individual investor.

Just like mathjak107, I did very well investing in Fidelity mutual funds, but I only bought those funds that offered them as NTF (No Transaction Fee, which is also referred to as a no-load fund). Just make sure that the funds you chose to invest in also have low maintenance fees. Why? Because if the maintenance fees is being paid by the fund, that means the investor gets a lesser return. Make sense?

You may may want to go to the library and pick up a few books that explain investing and how to get started. I know the Wall Street Journal used to have a book available that explained getting started better than I ever could.

That’s about all that I can tell you for now without sounding over-bearing. Good luck to you.
 
Individual stocks can be very tricky. Someone sneezes in the wrong direction and the stock can plunge. I bought a highly touted stock, I mean all the financial "experts" were touting this stock about two years ago. Glad I didn't load up on it because it tanked...one batch $30 lower per share and another batch about $38 lower per share. I finally dumped it to offset capital gains for tax purposes. On the other hand, some stocks are doing very well and if one can afford the risk, do your homework and thoroughly to make the best possible choices.
 
OneEyedDiva said:
Individual stocks can be very tricky. Someone sneezes in the wrong direction and the stock can plunge...... Glad I didn't load up on it because it tanked....... I finally dumped it to offset capital gains for tax purposes. On the other hand, some stocks are doing very well and if one can afford the risk, do your homework and thoroughly to make the best possible choices.
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Yup. Even if you do your homework, stuff happens. Fire, flood, bad computer code, poor management, scandalous behavior. I used to trade stocks in my 30's, but gave it up little-by-little as I got older. Now, there is so much computerized trading that one doesn't have much control no matter how well you've researched.
 
retiredtraveler said:
Yup. Even if you do your homework, stuff happens. Fire, flood, bad computer code, poor management, scandalous behavior. I used to trade stocks in my 30's, but gave it up little-by-little as I got older. Now, there is so much computerized trading that one doesn't have much control no matter how well you've researched.
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That's True RT. Like Mathjak, my "mad money" is invested in stocks the rest in mutual funds and ETFs. I was just curious to see how Facebook would do so I bought 14 shares on the IPO date for $34 and change. Same for Apple, though I was hoping it would soar like Google and Amazon..got that for $92 and change per share. Only purchased 15 shares. So whatever those two do, it's not going to break my "bank". Since my purchases FB is up 392% and Apple 92%.
 

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