This is sort of a continuance on my previous post series, but this time I’m asking for input! As you know, we’ve been dabbling with different ways to invest for the long-term, things that I can manage. So, I’m asking – what do YOU do? If you are in the situation we are in – we can put a little aside here and there, but it’s not like I have thou$ands to invest. I’ve heard a lot about “hot penny stocks,” but haven’t really done much looking besides a little web window shopping.
So far I have tried forex, but it wasn’t for me. Just too unpredictable. Prosper.com seems to be working well but I’m pretty new to it so I only have a few loans out, and such small amounts to test that they won’t be making a huge amount just yet.
So – thoughts on penny stocks? It seems like it would be a really cool way to get into investing in stocks, but I am wondering if it’s a lot like forex. I just didn’t like how on a bad trade I could lose money. Course then again, Prosper has that risk too.
That’s probably why I am liking the internet marketing (I’ve almost got my tortilla video done!) because at least on a bad day you don’t run the risk of losing a lot of money due to a bad call. Or maybe I’m just paranoid!
I think a lot of people are in this situation, especially in this economy, and even if it’s only $25-$50/month that we can put aside, it just seems stupid to do that when all we can do is stick it in a savings account at .1% interest.
So – visitors – please share any thoughts! Do you do any penny stock investing? Or other ideas?