What a hypocrite. Does the below look familiar to you?
"If you're a hardworking and lead a simple lifestyle, my advice to you is to pay off your Mortgage loan sooner. 15 years if possible? This way you will be cleared by the time you hit 50 and perhaps can look to invest cash without risking you're home or maybe buy a 2nd home for investment. Or if (touch wood) you get retrenched you can at least drive a cab without stressing about lack of cash. You will be suprised how much you pay goes into interest just on that extra 10 years."
You talked about investing, and not only that, here you were even advising him to buy a 2nd home!!!
Simple stock investing (not trading) is not rocket science. At the end of the day, it is your life and your money. People here are sharing what works for them. You dont have to follow them if you think the risks are too high. Just dont feel envious about the success of others.
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Originally Posted by Unregistered
Actually I already covered that in my 1st reply to him, with his general background its easy to tell he is not well versed in the markets. I don't believe its right for people to preach investment advise to those not versed in it, unless the individual is willing to discard anonymity and physically meetup and explain how things work. Even banks have to perform risk assessment first before preaching products.
If he loses a ton of money based on rubbish advise from this forum a lot unregistered preachers of stock investment will just turn around and blame him for lack of knowledge, but really reckless advise should be penalized as well. I purely advise him the safest approach based on his situation. If he feels the need to suddenly trade in Fx or Stocks surely this is not the right place to gain that kind of direction steer.
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