InvestorsHub Logo

marylandstockguy

08/05/22 7:10 AM

#19402 RE: zombywolf #19399

Yup agreed. Let's face it - there are no experts on the board, either naysayers or bulls. We just don't know what's going to happen, but 100 percent that there's great possibility of big gains from here - IMO the rewards outweigh the risks, so long as you don't get in over your head. If you can't max out the amount you're allowed to put in your 401K each pay check, don't buy any individual stocks, OTC or blue chip IMO...leave it to the experts. That's my thinking - max out everything you possibly can in 401K - if that means $1,000 a paycheck, do it. Never, ever deviate from this path, and you'll be set. Then, if you can put extra towards the principal of your house and pay it off 8 years quicker (which you can do by paying 1 extra payment a year), do that. I had a solid financial advisor years ago who stressed these two things. THEN, you can have some fun with individual stocks.

It just seems if you're not saving big for the long run, you become dependent and frantic with these kinds of plays, and that's not a great place to be. You want to have social security, a solid 401K you can take money from monthly, and a pension if you get one, when you retire. If you can strike it big with one of these plays, great! But if you don't, that's ok too if you're just smart otherwise. I just think it's the safest path, since none of us have a crystal ball and know what will happen with any OTC, much less a blue chipper. Who knows even if Netflix will be good in 10 years? Look at Sears, K-Mart, Circuit City, and so on and so on. Things change over time.