Investing … Vegas Style!

Roll the Dice … Invest!

Las Vegas recently blew off all pandemic restrictions. If I was vaccinated, I’d love to go & join in the fun. But that’s not happening yet. Here, we just got partly released from our tight community lockdown. πŸ™„

As I was dreaming of a Vegas vacation, I got a message from my kid. He remembered that I’d sent him stuff on investing, but he couldn’t remember where to start. Fantastic, I had finally gotten through to him.

Next message read … “What do you think of Bitcoin, Dad?”

Okay … maybe not! πŸ˜†

Hey, I have nothing against buying crypto (especially when you can’t go to Vegas! 😜), but that wasn’t the message I was going for when I was trying to encourage them to save & invest.

I’m no expert, so I played it safe. I went with what Jack Bogle & Warren Buffet have been telling us amateurs to do for years … suggested they look at buying a low-cost index fund. Through a low-fee or no-fee transaction brokerage. And hold it for a long, long, long time. Had I done that myself back at their age, I’d be spending a lot more time in Vegas now! The big advantage kids have is time. Time allows the magic of compound growth to do its thing. A very special thing.

But I’ll have to save that for the next post or they won’t take the time to read this one. They wanted me to send them something in under 280 characters. What’s that about!?! Maybe if I can keep these posts down to a two-minute read, there’s a chance they’ll read them! πŸ€žπŸ»πŸ˜‰

Warning & Disclaimer … I’m a Dad, not a financial advisor or a financial planner. I am not a tax advisor or a lawyer. These posts are for entertainment only & are not investing advice. Do your own due diligence & seek professional advice before making any decisions on saving & investing. This content relates to Canada but, wherever you are, check the rules with your own advisors before making any financial decisions.

Work From Home Investing

Stocks only go UP! Right!?!

This is a different topic for The Wry Eye, but I thought I’d share one of the silly things I’m playing with during my work from home experience: investing! Investing & weigh-loss have a lot in common. Both require dedication, patience, & a proven methodology. I can only hope I’ll do better with investing than with my recent weight-loss efforts, or I’ll be in real trouble! 😜
If you do some investing, let me know. Maybe we’ll swap more stories on this subject.

During the early stage of the pandemic restrictions, I moved a small, professionally managed portfolio into a self-directed account. I meant to do it years ago, but I never got around to it. The market slump in March woke me up. Unfortunately, it took weeks to get my money moved across, so I missed buying the lows. By the time I got to trade, things were on the way back up & I was too scared to invest it all at once! I worked it back into the market over the next several months.

My returns over the over past six months beat the advisor’s by a chunk. That sounds great, but it wasn’t very much money to begin with, so we’re not talking early retirement here. To be fair, the advisor had been working within my very conservative guidelines. And I got what you might expect from that guidance: very conservative returns. I have no idea why my guidelines were so conservative. And that’s the story of my investing history; half the time, I have no idea what I’m doing, nor why I’m doing it that way! My recent success was even more surprising because I was not buying the high-flying, stay-at-home, rampant tech stocks. I made most of my returns with pretty conservative stocks & boring ETFs. And now, it was all with lower fees.

I got so cocky about it all that I used a tiny portion to bet on small oil stocks, precious metals ETFs, & Bitcoin! Believe it or not, I made money on most of those too. Yes, I had a few losses, but mostly I was winning. I wondered what would happen if I did this with my real savings? Would I crush it? Maybe early retirement really was in the cards!?!
And right there, I knew it was time to stop! I sold off the stuff I didn’t understand & put the proceeds into a boring ETF.

Now that I’m an expert investor (πŸ™„πŸ˜œπŸ˜), I’ve started “educating” my kids!

It’s funny how some things are falling into different perspectives during the pandemic. I am fortunate to still have a job, but none of us knows what happens next. I’m building a list of those things I’ve left long undone. This could be a great opportunity to get some of those tasks ticked off the list.

TGIF!
Have a great weekend & PM me with your hot stock tips! LOL

PS … I am not suggesting that you go into the stock market, none of this is investing advice, this post is purely for entertainment. I’m having fun with it, but I also have some investing experience to lean on. Always seek professional advice before making your investing decisions!