The two of you should be discussing your short term and long term goals, the amount you're comfortable giving him up front and on a recurring basis, and he should be building an investment strategy tailored to those goals and your specific circumstances.

First, I thank you for the advice.  I know my online persona makes me look like a jerk and probably not that smart.  But we’ve already talked about all that and are prepared to bring whats needed  to the appointment.  We also have a number in our heads that he can freely do as he wishes.    He can have quite a bit each month to work with that we honestly don’t need, atm.   I know that value is relative.   But I’m sure even at 39 he’ll be satisfied and pleased he has enough to work with.    and we’d still have our “fun money”. I most certainly WILL NOT be giving him enough to where I can’t buy something all Willy Nilly!  I mean, why bust my [BLEEP] if I can’t? We’re not exactly starting from zero either.   We want land.  That’s short term.  If he can get it to us yesterday, he’s too late, haha.  Long term, obviously the retirement aspect.  We’ve got numbers  for that as well.

My advice to you is, do not hire a financial advisor on a percentage.  Some of them work for 1%, which doesn't sound like a lot, but over a 20 year period, it's something like 20%.  That is crazy.  Hire a financial advisor on a flat fee basis, have him give you a solid long term plan that can be put on autopilot, and then get him out of your life.  These guys can be blood sucking leeches.

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That’s our plan.  We meet with him in April.  I’m looking forward to it.  I opened a Roth IRA w/ him when I was 18.   Life happened and I quit contributing.  By the time I have the appointment it will be 21 years later!  I think I’m years overdue.  I just hope he doesn’t want ALL my excess money, lol.  Gotta have some fun with the hard work.

A Roth IRA is a good move for you given your age (at least what I think it is).  A traditional IRA is also not a bad move which will give you a current tax benefit.  As far as contributing, the key is to contribute as much as you can on a regular basis, even if it's only a few dollars per month.  Over time your nest egg will grow and when you hit retirement age or close to it you will be sitting pretty good.

The people basically "betting" on individual stocks, buying and selling every day are not investing.  They are gambling.

My age is 38.  39 at time of appointment.  The wife is set with her job and retirement if she has the nerves to stay another 25 years.  I for one, can not and will not be mowing when I’m 65.   I’m wanting out at 45-50. (I’m a young 38!!). But I do have the business itself that I can manage in my older days provided that I can find decent people and don’t go senile.   That story will tell itself in years to come.  We’re open to giving him 3000 a month provided I don’t have to hire another guy.  That allows us some free money so we don’t live paycheck to paycheck.  We’ve been there, done that.  Not going back. I’d imagine that is more than enough to buy the land,  retirement...?  Idk.  Looking forward to it.  But something does tell me I’m going to hear something I don’t want to.  He may tell me I need to pick and choose.  If so, I’ll just have to accept it.  Time to be responsible.   At least financially.   I refuse to be fully responsible.  

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First, I thank you for the advice.  I know my online persona makes me look like a jerk and probably not that smart.  But we’ve already talked about all that and are prepared to bring whats needed  to the appointment.  We also have a number in our heads that he can freely do as he wishes.    He can have quite a bit each month to work with that we honestly don’t need, atm.   I know that value is relative.   But I’m sure even at 39 he’ll be satisfied and pleased he has enough to work with.    and we’d still have our “fun money”. I most certainly WILL NOT be giving him enough to where I can’t buy something all Willy Nilly!  I mean, why bust my [BLEEP] if I can’t? We’re not exactly starting from zero either.   We want land.  That’s short term.  If he can get it to us yesterday, he’s too late, haha.  Long term, obviously the retirement aspect.  We’ve got numbers  for that as well.

My advice to you is, do not hire a financial advisor on a percentage.  Some of them work for 1%, which doesn't sound like a lot, but over a 20 year period, it's something like 20%.  That is crazy.  Hire a financial advisor on a flat fee basis, have him give you a solid long term plan that can be put on autopilot, and then get him out of your life.  These guys can be blood sucking leeches.

Thank you,   I met this guy over 20 years ago.  My dad started with him and got me the n there to start the Roth.  My dad, as silly as this sounds, kept going to him.  His 20 yr old son didn’t.  Even though I stopped going and eventually stopped contributing, I still feel like I know him.  My dad, in the last 20 years started to do really well for himself. I remember coming home from school as a kid one day... he was home (why the heck is dad home?) rolling coins.  He got laid off.  I knew I didn’t have as much as the other kids.  Buts that’s when I realized we were “poor” or “broke”.  Idk this guys percentage, but dad got back on his feet with an amazing job (oddly enough the same company that laid him off) and he is now retired making more than he did working.  He won’t admit it, but I’d be surprised if he’s not technically a millionaire.  I don’t care about labels.   I don’t care if I am one or not.  I just want the bills paid and enjoy life.  I guess a long way to say, this guys trusted.  He actually hounds my dad for not taking his money.  Asks him “what are you going to do, die and give it to your kids?”

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Wow .... that is great.  You need the "Thank You GME" bumper sticker on your vehicle or perhaps just get the GME4ME vanity plate. 

Ok, so i tried to sell at 3:55pm but trading was halted.  I assume they open it back up for extended trading after 4pm?  Why do the after hours people get to wheel and deal while we are blocked?   I love rolling the dice, but I was really content at 103% but will definitely cash out at 9:30am IF they let me --- hopefully it can maintain the extended hours pop (right now 70% extended hours) .... heck, I'll take an extra 50% on top of my 103% ---- i'm not greedy (ha !!) ---- THIS IS CRAZY   I'm going to be doing 1,000 clicks on GME and AMC throughout the night.  If it tanks, oh well.  This is worth the excitement.

Who do you trade with? I’m with fidelity and have after hours trading. You just have to talk to a rep so they can try to talk you off the risky after hours trading ledge first.

And it went all the way to $200 before dropping a little!

Yes, I'm with Fidelity as well.  It gives me a # to call. I tried calling but was on hold from 7:30 until 8:00 due to high volume so i dropped off.

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My age is 38.  39 at time of appointment.  The wife is set with her job and retirement if she has the nerves to stay another 25 years.  I for one, can not and will not be mowing when I’m 65.  

FYI -- just remember Florida is a 50/50 state which means you add everything up and divide by 2 if you ever split.  If she has more savings or retirement 50% of that [BLEEP] is yours --- HA !!

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Who do you trade with? I’m with fidelity and have after hours trading. You just have to talk to a rep so they can try to talk you off the risky after hours trading ledge first.

And it went all the way to $200 before dropping a little!

Yes, I'm with Fidelity as well.  It gives me a # to call.  Do I need to call each time I want to buy/sell during extended hours or is it a 1-time unlock thing in which I will then have permanent ability to trade around the clock .... and does my trade immediately take effect?  Right now, if i want to buy or sell online during extended hours, the trade doesn't take effect until 9:30am so i just defer and make the decision then.

One time call, and it immediately takes effect.

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What in the Wide Wide World of Sports is agoin' on here???

I got back into Gme a few days ago...I’m a happy camper right now, again! 

After hours trading is at $184!

Wow .... that is great.  You need the "Thank You GME" bumper sticker on your vehicle or perhaps just get the GME4ME vanity plate. 

Ok, so i tried to sell at 3:55pm but trading was halted.  I assume they open it back up for extended trading after 4pm?  Why do the after hours people get to wheel and deal while we are blocked?   I love rolling the dice, but I was really content at 103% but will definitely cash out at 9:30am IF they let me --- hopefully it can maintain the extended hours pop (right now 70% extended hours) .... heck, I'll take an extra 50% on top of my 103% ---- i'm not greedy (ha !!) ---- THIS IS CRAZY   I'm going to be doing 1,000 clicks on GME and AMC throughout the night.  If it tanks, oh well.  This is worth the excitement.

Dude hold that [BLEEP]. Once it starts skydiving without a parachute then sell. You luck boxed enough to catch a major run

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Your beliefs become your thoughts,
Your thoughts become your words,
Your words become your actions,
Your actions become your habits,
Your habits become your values,
Your values become your destiny.

Who do you trade with? I’m with fidelity and have after hours trading. You just have to talk to a rep so they can try to talk you off the risky after hours trading ledge first.

And it went all the way to $200 before dropping a little!

Yes, I'm with Fidelity as well.  It gives me a # to call.  Do I need to call each time I want to buy/sell during extended hours or is it a 1-time unlock thing in which I will then have permanent ability to trade around the clock .... and does my trade immediately take effect?  Right now, if i want to buy or sell online during extended hours, the trade doesn't take effect until 9:30am so i just defer and make the decision then.

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My age is 38.  39 at time of appointment.  The wife is set with her job and retirement if she has the nerves to stay another 25 years.  I for one, can not and will not be mowing when I’m 65.  

FYI -- just remember Florida is a 50/50 state which means you add everything up and divide by 2 if you ever split.  If she has more savings or retirement 50% of that [BLEEP] is yours --- HA !!

Was not aware of that, lol.  Hopefully it doesn’t come to that.  As annoying as we can be to each other, we still for some reason love each other!  Even after 18 years.  Here’s to another 18+!

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The two of you should be discussing your short term and long term goals, the amount you're comfortable giving him up front and on a recurring basis, and he should be building an investment strategy tailored to those goals and your specific circumstances.

First, I thank you for the advice.  I know my online persona makes me look like a jerk and probably not that smart.  But we’ve already talked about all that and are prepared to bring whats needed  to the appointment.  We also have a number in our heads that he can freely do as he wishes.    He can have quite a bit each month to work with that we honestly don’t need, atm.   I know that value is relative.   But I’m sure even at 39 he’ll be satisfied and pleased he has enough to work with.    and we’d still have our “fun money”. I most certainly WILL NOT be giving him enough to where I can’t buy something all Willy Nilly!  I mean, why bust my [BLEEP] if I can’t? We’re not exactly starting from zero either.   We want land.  That’s short term.  If he can get it to us yesterday, he’s too late, haha.  Long term, obviously the retirement aspect.  We’ve got numbers  for that as well.

Sounds like you're on the right path, congrats!  That's more than the majority of people.

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Wow .... that is great.  You need the "Thank You GME" bumper sticker on your vehicle or perhaps just get the GME4ME vanity plate. 

Ok, so i tried to sell at 3:55pm but trading was halted.  I assume they open it back up for extended trading after 4pm?  Why do the after hours people get to wheel and deal while we are blocked?   I love rolling the dice, but I was really content at 103% but will definitely cash out at 9:30am IF they let me --- hopefully it can maintain the extended hours pop (right now 70% extended hours) .... heck, I'll take an extra 50% on top of my 103% ---- i'm not greedy (ha !!) ---- THIS IS CRAZY   I'm going to be doing 1,000 clicks on GME and AMC throughout the night.  If it tanks, oh well.  This is worth the excitement.

Dude hold that [BLEEP]. Once it starts skydiving without a parachute then sell. You luck boxed enough to catch a major run

Europe opens at 3a.m. eastern. Make sure to take a peek

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Your beliefs become your thoughts,
Your thoughts become your words,
Your words become your actions,
Your actions become your habits,
Your habits become your values,
Your values become your destiny.

Yes, I'm with Fidelity as well.  It gives me a # to call.  Do I need to call each time I want to buy/sell during extended hours or is it a 1-time unlock thing in which I will then have permanent ability to trade around the clock .... and does my trade immediately take effect?  Right now, if i want to buy or sell online during extended hours, the trade doesn't take effect until 9:30am so i just defer and make the decision then.

One time call, and it immediately takes effect.

Thanks .... I was on hold for 30 min due to call volume at 7:30pm (and extended trading ends at 8pm).  Oh well.  If it tanks I can always look forward to my Yobe (taro) buy one get one deal from the Teal Deal Coupon booklet.  I want a lot but know I don't need much.

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One time call, and it immediately takes effect.

Thanks .... I was on hold for 30 min due to call volume at 7:30pm (and extended trading ends at 8pm).  Oh well.  If it tanks I can always look forward to my Yobe (taro) buy one get one deal from the Teal Deal Coupon booklet.  I want a lot but know I don't need much.

Set a trailing stop loss

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Your beliefs become your thoughts,
Your thoughts become your words,
Your words become your actions,
Your actions become your habits,
Your habits become your values,
Your values become your destiny.

Was not aware of that, lol.  Hopefully it doesn’t come to that.  As annoying as we can be to each other, we still for some reason love each other!  Even after 18 years.  Here’s to another 18+!

Definitely --- Good luck.  Wife and I hit the 24 year mark this year.   Just use the 50/50 Card if you both are both drinking and the argument is never ending ..... wait, that's not a good idea.  Just forget about it all together .... LOL

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Thanks .... I was on hold for 30 min due to call volume at 7:30pm (and extended trading ends at 8pm).  Oh well.  If it tanks I can always look forward to my Yobe (taro) buy one get one deal from the Teal Deal Coupon booklet.  I want a lot but know I don't need much.

Set a trailing stop loss

Crazy, crazy, crazy.  

Man, trailing stop loss orders are a terrible idea.  If a stock is a good investment, you don't want a dip to trigger a sell, it'd be much better if a dip triggered a buy order. 

I remember the flash crash back in 2010, when the market took a sudden massive dip, and a lot of people who had stop loss orders got sold out of their positions at a huge loss.  Because they were selling automatically in a situation where everyone was a seller and no one was a buyer.   Then by the end of the day, the market had recovered.  These people had their holdings go poof, with big losses.  How stupid.   

Now imagine if these people had had trailing buy orders.  They could have made huge money that day. 

Think of this: when stocks take a sudden dip like that, it means there are many more sellers than buyers.  If  you try to sell your stock during a big dip, if you have set your stop loss order with a specific price, that sale is very unlikely to be filled.  Or, if you set your stop loss at market, you are selling into a situation where the price you finally get could be very low.  Because if you set your stop loss order at market price, then you are offering your stock AT ANY PRICE.  And it's automated.  You don't get to make that decision.

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Got my sale in just at the open -- was at 80% today but by the tie the sale went through it dropped to 60% on top of the 103% increase yesterday. Just glad to get it in because GME just got halted at9:36am

245% return on my Monday investment.

[BLEEP] it - Time to buy a boat --- always wanted to go to Jags games in a boat.

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Got my sale in just at the open -- was at 80% today but by the tie the sale went through it dropped to 60% on top of the 103% increase yesterday.  Just glad to get it in because GME just got halted at9:36am

245% return on my Monday investment.  

[BLEEP] it - Time to buy a boat --- always wanted to go to Jags games in a boat.

I bought some bags of AMC today. Good news is it was only 20.

---

Your beliefs become your thoughts,
Your thoughts become your words,
Your words become your actions,
Your actions become your habits,
Your habits become your values,
Your values become your destiny.

Got my sale in just at the open -- was at 80% today but by the tie the sale went through it dropped to 60% on top of the 103% increase yesterday.  Just glad to get it in because GME just got halted at9:36am

245% return on my Monday investment.  

[BLEEP] it - Time to buy a boat --- always wanted to go to Jags games in a boat.

I bought some bags of AMC today. Good news is it was only 20.

What was the per share price for your purchase?

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Got my sale in just at the open -- was at 80% today but by the tie the sale went through it dropped to 60% on top of the 103% increase yesterday.  Just glad to get it in because GME just got halted at9:36am

245% return on my Monday investment.  

[BLEEP] it - Time to buy a boat --- always wanted to go to Jags games in a boat.

Do you ever lose? You are starting to sound like the Jag message board version of Vegas Dave.

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Got my sale in just at the open -- was at 80% today but by the tie the sale went through it dropped to 60% on top of the 103% increase yesterday.  Just glad to get it in because GME just got halted at9:36am

245% return on my Monday investment.  

[BLEEP] it - Time to buy a boat --- always wanted to go to Jags games in a boat.

Do you ever lose? You are starting to sound like the Jag message board version of Vegas Dave.

Yes, March 2020 -- lesson learned.  Right now, AMD (-10%), BABA (-2%), and PLTR (-13%) are my only losses in total.  I started getting more aggressive after watching NIO go from $30 to $55 and back down to $40 ... even though it was a 30% gain, it felt like a real loss so now I dump after hitting certain profits.  Also learned not to look back ... buy, dump, and move on.

If my investments were like Boselli (the Sunshine Pumper) talking about the Jags, I'd be broke.

Update:  Losing some today since I transitioned to some recovery stocks. No GME to bail me out   Back up but JNJ has me puzzled. Ready for approval but down today while Moderna is up ... what the heck !!

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Got my sale in just at the open -- was at 80% today but by the tie the sale went through it dropped to 60% on top of the 103% increase yesterday.  Just glad to get it in because GME just got halted at9:36am

245% return on my Monday investment.  

[BLEEP] it - Time to buy a boat --- always wanted to go to Jags games in a boat.

I bought some bags of AMC today. Good news is it was only 20.

How much per share did you pay for the AMC stock?

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I bought some bags of AMC today. Good news is it was only 20.

How much per share did you pay for the AMC stock?

I know the question wasn't directed to me but in conjunction with your question I'm actually thinking of buying GME, AMC, KOSS, BB, XPR, AND NOK if any or all dip to their pre-reddit prices -- reinvestment of using the existing profits from GME and AMC.  I actually did that on a whim with AMC @ $4.96 and GME @ $46 just in case the Reddit group initiated another Stonk !!!   Reward of them jacking with the system once again far outweighs the risk since I'd be buying the low low dip (if AMC even comes back down to something like $5.

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