The TRUTH About Getting Rich Quick In The Stock Market
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- Опубліковано 30 чер 2024
- Author of "From Side Hustle To Main Hustle To Millionaire" (Available at B&N, Amazon, Library)
My Book: sidehustlebook.info
Start Investing Today: ryanoscribner.com/start
DISCLAIMER: Ryan Scribner, including but not limited to any guests appearing in his videos, are not financial/investment advisors, brokers, or dealers. They are solely sharing their personal experience and opinions; therefore, all strategies, tips, suggestions, and recommendations shared are solely for entertainment purposes. There are financial risks associated with investing, and Ryan Scribner’s results are not typical; therefore, do not act or refrain from acting based on any information conveyed in this video, webpage, and/or external hyperlinks. For investment advice please seek the counsel of a financial/investment advisor(s); and conduct your own due diligence.
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While losing money when I first started investing was painful, it taught me many valuable lessons. 1. Don't invest in something I don't understand 2. Don't get emotional 3. Buy & hold companies I 100% understand and believe in!
@Jacob L but do you understand it?
What research would u recommend to get a understanding before I invest ?
I disagree, if you dont start investing with low capital you wont have a good stratagy when you have high capital. Get started young and with a small amount of capital first.
Joseph Stenzel I like to think I have a good strategy cause I’ve lost hundreds and thousands already from money I’ve gained.. I always start with hundreds and with options I turned it into thousands
@@MetaMikeG Options are all together a different ball game mate.
so true... i agree
i agree with both actually. books are cheap.. and work just takes time and energy.
@@0dteESmini UA-cam is easier though
If I had 10,000 a month just laying around to invest, I wouldn't need to invest
The people that turned a couple thousand dollars into a million dollars made EXTREMELY risky investments. People don't see the thousands of other people who lost money doing the same thing.
So, you're saying never invest?
Eric Something I don’t think he’s saying that. I think he’s saying that getting rich quick by using VERY risky investments isn’t realistic.
Getting rich quickly in the stock market usually means there's a lot of risk involved 🤷♂️
"high risk high reward, don't be a pansy!" As some people would say, while they're losing their money secretly in the background.
@@AJMobileMoney exactly hahah
Dont be afraid of risk, just learn risk management
@@vincevasquez5841 a avoiding high risk is risk management 🤔
@@vincevasquez5841 I know the processes of risk management: Accept, Mitigate, Transfer, Avoid. I also do my own research. For MOST people, avoiding the risk is the way to go because they either do not have the intelligence or the time. You are choosing to mitigate because you are either willing, have the time, and or intelligence to do so. A lot of people ACCEPT the risk without doing anything to MITIGATE, then end up AVOIDING once they get their head cracked. Truth is most people who push others towards taking these high risks do so by convincing others to TRANSFER risk to them (via paid courses, or paying Advisors to make the decisions for them).
I'm well versed on Risk Management, and for most people Avoiding is the Intelligent thing to do. Sometimes Common Sense is the Intelligent thing to do. 😉 There are plenty of lower risk ways to make money with solid returns.
great points. If you have a thousand take that and get training. Try practicing on a simulator for 30 days. Around 5,000 to 10,000 dollars would be a better start. Folks treat things like a lottery get in trouble.
I think trying to get rich quick is fine, however, if your just gambling on random stocks and options then you need to start a trade journal and learn from mistakes. Also gambling on stocks can be completely unforgiving!
The Entrepreneur Channel learned this the hard way with Disney. I made 30k overnight with the pop that Disney+ made, then reinvested 5k to make 50k when Avengers Endgame came out, didn’t pull it out and lost all of that newly earned 50k
MonsterMarco 1273 Could elaborate how exactly you made 30k when Disney + was I announced?
Rich Dad Poor Dad, investing in yourself is kinda like buying income-producing assets.
Robert kiyosaki makes fun of the stock market...but yes, it can produce assets. This guy is saying it's not the best right off the bat , while I agree, but it is a good option if your not planning on investing in yourself any other way.
Rich dad never exist in first place
"Don't buy those lottery tickets, buy stocks instead!!!"
youll never win the lottery, that simple. Not you not me no one lmao waste
Scooter1 well you can. Like a 1 in million chance
making $10 a month from stocks is better than waisting it.
@@Laking1234 I turned twenty euros into 30 euros in 2 days
A lot of people see guys like Tim Sykes and try to get rich quick off penny stocks but end up losing everything. The good thing is that most of these people are beginners and learn early on before playing with too much money.
Great advice bro. I started into stocks when I was young and broke.. With a $10 broker fee at the time and very little invested it was difficult to make $. Invaluable experience though.
Best thing that's worked for me is buying and holding blue chip stocks w/ high dividend yields (over 3%)
@FinanzFerdinand you are an example of someone who doesnt know what they are doing
@FinanzFerdinand 3% isnt the greatest, but if you hold onto that blue chip stock for longterm (and that company keeps raising their dividend), that original investment will be earning you a lot more than 3%.
3% after inflation then that’s decent
@FinanzFerdinand the price of the stock still goes up, adding additional gains, what dividends help with is if the stock goes down it buys you more shares.
3 percent plus compounding with dollar cost averaging investing
I’m 18. My father left when I was 3 and my mother is unemployed and knows nothing about money management (she’s foreign and benefits pay more than any job she could get, plus she’s caring for a toddler).
I really don’t want to rely on benefits and I’m applying all I know to get a good job, but I honestly have no idea where to start or what to do. I usually skip meals just to save up for bills and I’m willing to try anything at this point.
Whats your best advice on starting? I don’t want to sound desperate but most of the advice I see are for people who have income to spare.
Thank you for reading this at least, I’m still learning all I can on my own. Unfortunately I can’t tell the difference between scams and genuine advice 😅.
My advice, don't skip meals. It's what gives you the energy to make money. Skipping meals is completely a false economy. Good luck..
Well i also come from a family with pretty much no financial common sence, that being said i have been investing in the market for the past few years and have nothing but good things to say about it, not that my gains are huge or making me rich. But the profit is there and consistent. I Have friends and relatives messing with many investing strategies, private businesses, side gigs etc but the big problem is there not consistent. The learing curve is relatively low if you stick to dividend investing (S&P 500) or ETF's? lowest risk but also constant 4% to 8% start there and see how it goes, nothing is guaranteed but guys like Ryan here in this vid will keep you on track. Also, Robinhood or M1 finance seem to be great for beginners (I myself use TD Ameritrade and Robinhood)/great place to start. :) good luck- Cheers
@@niallmj1561 , yep agree with that- skipping meals for me is going for that top ramen. Investing is best done with EXTRA money, if you dont have it then like Ryan is talking about, read books, school etc invest in yourself to make a little more money/then shave a little off the top and invest that.
@@mikein60fpstwitch.tvaliber73 so true... the same goes for sleep as well.
- Get a job as soon as you can
- Track your income and expenses. Cut out anything unnecessary you are spending money.
try to avoid bad debts as well.
- Set a portion of your income aside for you save (5-20% whatever you can afford). This is will turn into an emergency now
- Save up 3-6 months’ worth of expenses
but can be more if you would like when you have more money
- After this is done. Save up to more money and start investing
- I would recommend looking into index funds these are perfect for beginner investors, probably should take up a big portion of your investment portfolio. The stock market in general goes up 7-8% per year over the long term. So the longer you hold your investments in the stock market the better you are off. Also do not shove all your investment money all in at the same time, there could be a year where the stock market just goes down. If does go down you can get stocks or indexes on sale this will benefit you long term. Please do research on investments
-Here are some other channels I like watching for finance education: beat the bush, the financial diet and the minority mindset (I ‘am not affiliated with any of these channels, they do a great job in financial education)
- This a solid blue print that anyone can follow who has little to no money to start with and its better if you are younger due to the magic of compound interest. This won’t make you rich overnight, but what it will do for you is make you financially secure for years to come.
“Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it.” Albert Einstein.
All the best to you and your family
Love the work Ryan!
You get Rich by taking the slow and long road. Never go on the fast lane.
I really like how honest you are Ryan. Thanks for a good content.
Thank you that's true, becoming organized our self first learning and investing on our self, will take us places with more confidence and more knowledge to know how everything really works. Thank you for the great advice, I will put it in action
If you invest 10k a month with a 10% annual return, your return would actually be 6k after one year, not 12k. As you only start earning that return when you put that money into the market. Next, 8-10% per year is an average and you could run into a bear market and not make any decent return in the beginning...
Phenomenal video, truly an inspiration.
I agree with most of the points you have made but if you apply the disciplines it doesn't matter where you start $100 or $100m you can use the compound effect to get to your goal..just get started.
Thanks Mate best advice I have ever heard, wish someone told me at 18, but its not too late. Beautiful presentation, wish everybody on you tube were to the oint like your self. Thanks
Even successful people in the business like Buffett and Dalio say to not go down that route. If you’re not constantly researching and learning beating the market is unlikely for the long term. A lot is actually luck in most cases 🤔
What if I started with 500 and made 1500 in 30 days. I love being the exception to the rules lol lots of research, lots of time, lots of effort but when you do it right it pays off
I am trying i wil work hard and be luck just like u .
I started with lowest amount of 20euros now I am on €93 and it hasn't even been three days, I did practice on a demo account for six months tho
Great job again. I just finished watching this video that was save on watch later.
Thanks for the solid advice! You saved me from making that same mistake!
Good & sound advice... Broadening one's knowledge first helps to avoid avoidable attempt...
There is no such a thing as "get rich quick". You have to put lots of hard work and be patient in order to succeed. That's what I focus on on my channel, keep it up Ryan!
100% correct.
There’s A Lot Of Fools That Think Otherwise 😀
good job Ryan - I invested in myself first building up a career in commercial banking and later biotech, along with an MBA from UCLA, paid off student loans, and now can invest guilt-free with scale - I have too many friends and acquaintances who want to take shortcuts in their careers
I enjoyed the video. Investing in yourself is a good strategy.
Invest in yourself first, your Roth IRA second, real estate third, and traditional stocks last
This is a great warning to new investors! I heard something like this when starting but didn’t listen haha!
Same haha
Swing trading is tough. I like investing for the long term and sell as needed.
I agree on a lot of your points. I got into market and invested 100% of my money into index funds, a couple blue chip stocks, and some pot stocks. I only saw the upside potential- then came December...
I didn’t sell anything at a loss and watched as my money went down and then recovered. One thing I did do was collected profits on pot stocks pre legalization in Canada. So in a way I did swing trade them but I’m really glad that I did because the ones I was holding went down 50+% and I would have went from being up in profit to holding at a loss.
I also think emotions can play a huge risk in how you invest. Fear of missing out has burnt me in the past but I’ve also gotten lucky by playing into it and watched as the stock continued to climb after I bought in. I now don’t ever buy at 52 week highs anymore no matter how bullish I feel on the company, and if it does continue run, so be it. I think if the risk vs the benefit, what are you risking to what benefit?
“I’m Tim Sykes multi millionaire penny stock trader here to tell you that you don’t need 1,000$ to invest in the stock market”😂😂😂
It's $10000... Geez, get your YT adds right..
@@duncanbannon adds
Great advice. In effect, 90% of new traders are handing over 90% of their money to the other 10% (experienced or lucky traders) in 90 days.
Thank you for sharing! I'm 15 so trying to learn this stuff early on
*Now anything that has "get rich quick" screams "scam" to me*
What do you think about investing not to sell but for long term for dividends?
@FinanzFerdinand ah okay bud I was asking him for his opinion, second this video he talks about buying and reselling stocks. I was asking about long term and Yes I don't a whole lot about stocks which is why I was asking him
@FinanzFerdinand I am not asking him for advice or what not I am asking for his opinion and I understand that and I am trying to do it I still got time as im only 17
Excellent and common sense advice!! Thanks!
When i first invested i lost money but now my money growing slowly
Based somewhat on your, and others, videos I decided to start investing just this week. I took less than 10% of my cash and picked 4 individual stocks that I can watch and wait for them to do whatever it is that they're going to do. My personal goal with that is to 1 - Learn (and I have, a ton, just from a few purchases), 2 - Have some fun (and it is! It's fun to have some very small part in the Wall Street machine), and 3 - Let it earn enough to maybe buy a new TV or some other luxury. If it doesn't then I can do without that luxury. No get rich quick ideas in my head.
So... Hopefully I'm in the 9% of the 90/90/90 just puttering around and holding a few stocks as not a lot more than entertainment and education. In regard to investing in myself, I have that going, but I lack the time to really make strides there right now. When the time frees up, I'll get after it harder.
When I first started out it was the same just to learn. The first thing I learned was with thousands of stocks finding the good ones is difficult. Get a good stock its up like 5% and somewhere you read of one up like 63%. So I narrowed down some good places to find them I would recommend you IBD 50, Mbalamico and Gurufocus. Goodluck!
@@RetailQuants I'm already as in bed as I care to be at the moment in stocks... I took on some gambles that I'm hoping will come back in the long term. GE, Boeing, Caterpillar, Intel, and 3M. I admit I'm down, but only about 0.5% so far after about 3 weeks, and I picked stuff that is really getting beaten right now (which is why I did it... plus 3M pays a pretty good dividend).
So... We'll see. It's been an education for sure so far.
Yes, lovin it! start with the skin, then on to your tonsils, appendix, and wisdom teeth (non essential body parts) whatever it takes/just do it. But on a serious note: the start is always the hardest and least rewarding/think about it/ anything you do takes a while, then the benefits really begin to take off/after a year or 2 anything you invest in, with time and diligence becomes well worth it. If you don't start you will never finish! Get out there and invest for your future! Great video -Cheers
I still think it's good to get in the game regardless. My strategy has been to buy dividend stocks and reinvest those dividends. I agree you wont get rich but it will help financially in the long run.
👍 thank you I needed to hear this
Most people look at the outlier traders who are making a lot of money, or pretending to! Great point that if you only have $1K to invest that you have other work to do so you can increase that. Great video overall!
wow I never heard of this I feel happy I did not fall into the 90%! and I learned everything online
Hey u have insta i need to talk to i
Good video on Discouraging people to make a foolish decision when it comes to the stock market! That being said this video was not what I was looking for it would be.
You know what Ryan, I agree with you. Why would you take your first thousand and toss it at stocks. You should gain knowledge and build yourself then take the next $1K-10K and invest. I took 1 year to do that and the results will pay off very soon.
You need to do your research prior to buying stocks. Its a marathon not a sprint.
So he literally said if you don’t have money don’t invest 😂😂😂
pretty much
Great video Ryan! The 90-90-90 rule is so true. You can see it play itself out in the stock market by just looking at the price action of some of the stocks out there. Being a smart investor separate those who become successful vs those are in the 90-90-90 club. 💥💯💰
What if u invest your money into learning how to day or swing trade stocks
This was so deep... Every beginner needs to hear this 👌🏾
Well done video. Truth
I've been seeing some videos on people making content about how they're investing $100 per week in RobinHood or M1 finance and people following and doing the same and I can only assume they think they'll be getting rich in the long term doing that; but it won't even be enough for them to live on a basic level in 10-15 years assuming they stick with it. It's kinda frustrating to see, but hey, that's the stock market, low barrier to entry so anyone and everyone can get in.
they would end up with about 154,000 dollars in 15 years. assuming they dont make more money or contribute more. depending on where you live that could be significant. its an interesting time for most investors as I am seeing more people care less about being rich and more about being able to cover life expenses so they have full autonomy of their time again. Its all so fascinating.
I think it is the attitude instead of the issue of investment capital. I agree that should invest in education first then has the right way to invest in stock or business. It is good to expose stock market earlier provided invest it in a right way instead of gambling by following the trend.
Invest in stock market require experience as well, it takes time to adapt the volality and excitement in stock market, young people normally has low capital and it takes time to build a business system either, so invests in small amount in early age can treat it education as well.
Overall, attitude is the key not the investment capital
Wise advice! I wish all the young people investing on the free Wealthsimple app would see this video first...
I have a buddy that leverages debt to buy stocks. He takes 401k loans out to buy stocks especially penny stocks. Now he’s got a shit load of debt.
Very interesting Triva Thanks
what type of business did you start investing in? (when you first started)
So funny that I got a ad for Etoro with thought of the title of this video 😂
There is more than enough free material online and on UA-cam itself to where no really needs to purchase investment teaching tools. Also staying with $1000 is great for someone whom makes very little money. Hell, start with $100 if you have to. I started with $200 and was up to $6000 in just a few months when I followed the rules and tips of educational vids and written articles. The risk is actually rather low when you do what is taught by bigs such as Warren Buffet, Dave and other knowledgeable youtubers like Ryan. Dont be emotional, compound invest in blue chip stocks, ETFs for long term high paying dividends. Pay yourself first, stay away from IPOs. Look into bond ETFs and so on. Also start a Roth IRA.
Great video. Would be cool if you mentioned that $1000 invested at age 20 in an index fund returning an optimistic 8%, would be worth $24k+ at age 60. Now just imagine if you invest in yourself and being able to put much more than $1k into the stock market... Truly mind boggling how easily index funds can make you money.
Depends on time in the market, when are you going to retire?
23 k in 40 years is really not alot of money. Most people make that in a year.
@@gogopanda1113 I was trying to say the growth over that period is 24x... The 1k was just an example. Imagine having 100k invested for that long and having it grow by 24x. That was my point.
People always ask me why I’m against trading. Video pretty much summed it up.. The numbers don’t lie!
Brandon Beavis Investing I agree, but depending on the person those numbers could either intimidate you or motivate you to be part of those 10% successful traders 👍🏽
Theres always SOMEONE who knows how to male the game pay. Roulette is how I make my money. Most cant do it. But I found a way to win.
@@TheAmigoUser 1% not 10
Spoilers: Med to Large cap stock wouldn’t give you those ambitious returns but small to penny stock or high leverage markets like forex/futures/options etc. does but with very high risk so you better have high risk management and high stress and psychological pressure too.
it,s help full idea, thanks dear,
Best advice buy and hold. That’s it
This is very good 🔥🔥🔥🔥
Thanks, Ryan
i agree. i cant belive ive been in the market for a year now. and i learned so much. i can see a positive result. except tesla is killing me right now lol but ill be ok. base on everything ive learned i feel like i will be retired in 5 years
Nice. Add better companies by also knowing where to look. I always thought it was hard investing but using sites like IBD 50, Gurufocus and Mbalamico narrowed down where the best value companies are! Now I feel like I got an MBA every time I check my portfolio
so basically start low. if you get like 1 to 2k spend it on your own business. if you get larger amounts thenn you invest. is that it?
Early on when you first start you need to focus on a wide safe base, imagine the bottom of a Pyramid. Flat stable and big... so start off investing with safe stable, big assets like VTSAX index funds, total stock market. Then as you get higher balances and a huge support, you can then start getting a little riskier with your investments. Like IPO’s REITs and Crypto currency. Remember “don’t put all your eggs in one basket” Happy investing!!
#benjaminrari #coastalvirginiafunding
If you really want to day trade, just day trade SPY, if your'e down, just walk away and come back until you see green!
How much total gain % does a stock have to have in order for you to be rich?????...is it 400% or 500% in total gains
Im investing in the 2020 holiday season with SNE, with as many shares as i can get.
I want to start a business and I always come up with different ideas but nothing works. Can someone suggest me items they are selling with high profits or products that are good to sell.
How long have you been a trader an hows your port folio bro
Great Video!!!
Glad you enjoyed it
Luv the video it helped me
I'm currently debating investing $1,800 toward a school program that's a little over a month long and will certify me as a CNA. I view this as a stepping stone toward my ultimate educational goal of becoming an RN.
When people say 1%... they make it seem like only 100 people exist in the world... that’s one person out of EVERY HUNDRED..... Do you know how many hundreds/thousands/millions/billions of people exist.... 1% is actually a significant number
If I work full time and I don't have business to do?
I make more like $500 a week so?
Or saved it until couple months to start trading
Trading is fine BUT you must learn how to do so first. There any many ways to learn and many people to learn from so you can learn from their mistakes. The biggest factors however are risk management and your physiological mindset. Also don't use it as a get rich quick scheme. Consistent profitability and compounding will get you there
90-90-90 So True...!!! 90% of Traders Lose 90% of There Money in 90 Days... From Someone Who Been Trading for Over 20 Years 90-90-90 This is So True...!!!
The thing about any get rich thing is you will only burn through your money & time. Once you realize you can’t be a millionaire overnight that’s when most people will give up and never try again. 😐 Long term will always win. 💪🏼
yea folks are trying to hit the lottery instead of developing long term skills.
Invest in anything that you see growth is always good.. I would put 1000 into the stock market to get a feel of it.. but nowadays people see 1000 dollars and want to spend it right away.
what if u have student debt? would u wait until u pay it off before investing?
If you do well, use it to pay off that debt. I would invest little amount now and use your profit to pay off. My brother invested 1800 and in 1.5 month made 15k.
Damn this is a good educational video
It is so simple and so ingenious. Amazing!
Its cause people are too quick to take losses and refuse to or rebuy back in when the price goes down (to lower their average in price). Also you just have to learn how to buy low and sell high.
I have only been trading for 3 months and I've only lost 30% and I'm getting better and better and because I'm holding stocks all I need is good news about the companies that I'm invested in and they'll go up and I'll be back in the green. EZPZ
Level1 Life no they lose because they keep averaging down until they are all out of money to keep averaging down, and it keeps going down and you lose all your shit lol. Or youll invest in a XIV fund or 3x etf and it conpletely goes down overnight. You wake up and lost 70% of ur account in a day. Trading is a losers game
Level1 Life also when u experiemce a crash you will sell. Only ppl oblivious to the market usually dont sell
Skin in the game ? Yes you need capital. If you have lots of capital then dividend stocks are great ! Average into blue chips (1/3) , buy on dips and collect the juicy yield.
Buy and hold ! Take out 4 to 5% yearly when you need to pay for your daughters wedding.
Forget index funds, etfs, options, and swing trading....excessive risk !
What stocks do you favor?
@@TheBrokenLife, Wait for a correction, average into utilities and oil pipelines like ENB. Good luck !
@@jt8280 Thanks man!
I am investing in myself for free by watching UA-cam videos and downloading books online free PDFs. Thanks though.
DhanDho Investor breaks the idea of High risk - High return theory. It is proven that it is not necessarily so.
This is true Ryan
No agree with some part... $80-$100 a year is not useless, it still better than $1 from the bank. Some people might not know or there are some problem or limitation. Invest in yourself is easy say then done. I not saying that we shouldn’t invest on ourself.
Lovely !
Hopefully you are selling out of the money puts and call on your GE porfolio !!!!
Probably margin loan can helps the result. But it is risky. It depends on how to manage the investment.
There is no getting Rich quick in the Stock Market. It takes years to get better (ask ricky). But you can achieve it eventually.