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PaSnow
 Rep: 200 

Re: So...I just got on the stock market...

PaSnow wrote:

401k is thru your job/paycheck.  So you might deduct 3% of your check & it goes right into your investment plan.  IRA is more like you choose to join on your own. SG is right a Roth IRA you pay now after tax, but when you cash out its not taxed. Something like that.

mitchejw
 Rep: 109 

Re: So...I just got on the stock market...

mitchejw wrote:
PaSnow wrote:

401k is thru your job/paycheck.  So you might deduct 3% of your check & it goes right into your investment plan.  IRA is more like you choose to join on your own. SG is right a Roth IRA you pay now after tax, but when you cash out its not taxed. Something like that.

I'm self-employed...so it makes it a tad more complicated.

PaSnow
 Rep: 200 

Re: So...I just got on the stock market...

PaSnow wrote:

Gotcha. What do you do, out of curiosity?

mitchejw
 Rep: 109 

Re: So...I just got on the stock market...

mitchejw wrote:
PaSnow wrote:

Gotcha. What do you do, out of curiosity?

I have Master's in Clinical Psych with in emphasis in Applied Behavior Analysis.

I've been in the autism therapy business for 14 years and about 7 years ago I started my first business.

So, over time I eventually learned how to do basic accounting, my own taxes (business and personal) and all sorts of another managerial and administrative work in addition to supervising 8 teams of therapists around the city of Chicago.

In 2008, because of its scientific basis and its provable results with kids diagnosed with autism, state governments started requiring insurance companies cover this therapy and my life has changed ever since.

That might have been more than you bargained for when you ask.... 18 11

lol

mitchejw
 Rep: 109 

Re: So...I just got on the stock market...

mitchejw wrote:
misterID wrote:
mitchejw wrote:

Wondering if anyone has any advice...

I was very reluctant to do this...as I really don't understand what the stock market is...

But I have a friend who I trust a great deal who basically said he'd do it all for me and explain it all later. He insisted that I stop wasting the tax incentives and compound interest opportunities.

What is everyone's experience thus far on the market?

I'm not very active on it tbh, because it's something you really need to stay on top of. Considering Trump is in office, I'd get in early and get out within 2 years. You should have high gains pretty early on but consider history, deregulations under republican Presidents are great early on but always, always, always turn into a cataclysmic disaster. Every single time.

ID...tell me more about your research with regard to deregulation and the markets collapsing eventually...I have always felt this way about Republican presidents and deregulation...but I've never taken the time to research it.

I'm curious.

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