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As many have already stated, you could afford a bit more risk at your age.
The big thing with investing it to not lose your head. Its crushing to see and investment go down in value. But if you are making rational decisions, and placing your money in funds with a long term track record of growth, you don't need to react to every swing in the market.
I'm currently taking a bath on Whole Food Markets (yeah, the one ****** stock I decided to buy because of those Motely Fool a55holes, and its in the tank). Am I selling? No way. The thing is, I'm NOT taking a bath unless I foolishly sell and lock in my losses. The long term prospects for Whole Foods are good.
Day trading is a fools game. You can make money at it, but you have to sit all day with your eyes glued to the computer screen, and you have to be prepared to absorb HUGE losses. Frankly I think your better off in Vegas.
I do trade, but its more of a year to year type of thing. When I buy a stock I expect to keep it at least 18 months.
I sold almost all my stock in December because it was obvious we were headed for the toilet, but my current holdings are:
BRK.B (Berkshire Hathaway B stock)
VWO (Vanguard international fund)
WFMI (Whole Foods)
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