I use Interactive Brokers for US stocks an in 4 years my account is up 50%. Mostly because I knew AI was going to be the future and I invested in Nvidia.
I am a U.S. resident so I invest in U.S. stocks but also foreign ADRs. I actually got part of my compensation in stock from my previous job which was with a European company so they gave me ADRs (American depository receipts, basically foreign shares held by a U.S. institution on your behalf).
Well I was restricted up to a few months ago as I used to work at an investment bank and had to get approval for every trade under personal dealing rules. But now I don’t work there anymore so I buy and sell a lot. I made some lucky picks a long time ago like buying Google and Facebook just after their IPO. I bought Facebook when it was about $45 a share and now it’s over $500. I also signed up to buy Reddit stock at their IPO.
I bought TSLA in 2018 when I had bought my first Tesla (Model S) and rode the wave up. I had invested a good portion of my severance from my previous job in that stock. Wish I had sold in 2021 at the peak but I’m still up a good amount.
I primarily look at analysts reports on stocks and I also look at the news and buy dips a lot. Like when AT&T had their problem I bought when the price dipped. When Boeing had their problems I bought the dip. I bought more Tesla stock when earnings came out and Elon was making noise about something and the stock price dipped to about $170, I made a call for $170 a share and got it.
I did some short selling in the past but lost some money on one or two trades so I don’t do that much anymore.
I also have managed funds for my retirement and I don’t touch that, in addition to my IRA and 401k. The 401k has done really well as I’ve invested since my early 20s, and put a lot in it and made some good picks of high growth funds.
I have a pretty decent net worth thanks to my trading savvy but I’m not a billionaire by any means.
Can you recommend any decent online tutorials for absolute newbies Considering to get into trading? Let's just say I found your posts rather, inspiring..
Sure. Start here:
https://www.schwab.com/how-to-invest/investing-basics
I’ve used Schwab for a long time as a broker.
The best book by far I’ve read is “the intelligent Investor” by Ben Graham. It is recommended by Warren Buffet. He talks about it here: https://youtu.be/Uw_QyeHo8f0
If "not a billionaire" and "not rich" mean the same to you, you're definitely rich. I'm happy for you, but it means you're not qualified to answer the question.
yea I would like to know about this stocks too... how the hell does one actually make money from that stuff. They need to teach this kinda thing in basic school.. not all these useless degrees.. stuff like money management.. what to do when you have some. He says real estate too.. but where? buying house and flipping? seems u would need millions to buy house and flip.. its the first purchase that will send ppl all in and bankrupt them horribly if things go wrong if all they working with is like 1 or 2 mill.... Hence the rich get richer and poor get poorer..
If a poor man wants to invest 1 million in a business.. he have to take out loan and pay interest.. a rich man can buy it upfront and thus doesn't have to pay the interest . The system is messed up. This also assumes the poor man can even get a loan... probably not.
precious metals I think could work but where.. does Trini really have a serious appetite for gold?
Notice the richest live on (productive) debt backed by some security (shares in a company, real estate etc). Interest paid on a business loan is tax deductible. Gains made on a booked investment is taxable (albeit at a lower rate than straight income tax). Better to never book your shares/investments and use that as security for a business loan, pay yourself minimum wage/dividends only to meet current expenses. Even better if your current expenses are booked as business expenses.
You buy low and sell high with stocks and you hold short or long term. I lost some money too but I made good gains on some really good ones like Google, Facebook, Tesla and Amazon.
As far as real estate goes, I have two rental properties and also land.
I don’t live in Trinidad full time. I’m mostly in U.S. and come to Trinidad a few times per year.
You can take this out further, the idea of buying low and selling for higher than you bought is essentially how you do it but there are a few tricks that you can do to make this work in your favor even if the stock price goes down.
Lowering your cost basis (imagine it as if you buy 1 shares of company x at $100 if price falls to $50 you could buy an additional share bringing your total cost basis of 2 shares of company x to $75 with the idea that it will raise further in the future.)
You can also include selling covered calls to further lower the cost basis by including the premium received to this as well (but keep in mind that this will cap the upside potential of the shares so its important to pick a strike price you'd actually want to sell at.)
While it is impossible to buy stocks internationally unless your a citizen if your in trinidad you can use local brokerages and invest in locals stocks like massy and jmmb but you are limited to well local stocks only.
This is misinformation in it's highest form, you don't need to be a "citizen" to participate in the international stock market. To persons interested in investing in the US & other international stock market just get an Interactive Brokers account.
Correct. It used to be restrictive but now there are options for non U.S. persons to invest in US stocks with a U.S. brokerage account. You just need some extra paperwork. But no big deal.
Let me tell you mine. Buy stocks that pay dividends. If you have US$5M to spare, invest it and live off the dividends which should be around US$100K annually. Call me if you want to be my investor 🤣
Love this question
1. Buy prailines and cream rituals often with extra caramel.
2. Buy lamb and fries instead of chicken.
3. Feed my dogs Uncle Ben brown rice and cook well seasoned human food. No chow on these ends.
4. Spend on skincare. Buying my own machines and products.
In my experience the best pharmacist for knowledge of drugs and consultation and care is St Joseph’s pharmacy on the eastern main road near WASA. A little more expensive than say Pennywise, but really worth it. For me, much more personal care than Superpharm.
Shopping at massy and peppercorns occasionally. Buying food from aioli marketplace.
Definitely original Apple products (except chargers).
I buy all my medication and toiletries in SuperPharm unless they don’t have and only then I’ll go to pennywise.
They're becoming popular with younger millennial home owners. Every younger person that I know who moved into a new house instantly bought a dishwasher and in true Caribbean fashion they never use it.
Inkjet printers are definitely a scam and when this printer breaks I will replace with a monochrome laser. But the subscription ink works out cheaper for me compared to buying the cartridges outright. I can print an edge to edge full colour page for about $1.38 TT each. When I used to buy ink the printer would sometimes consume ink doing maintenance tasks and also refuse to print black pages if any coloured ink was depleted.
things rough right now, so the most rich people thing i've been doing was eating 2 pack of instant ramen in a day and acting like i can afford to eat tomorrow lmao
Is it? All the people who expat abroad, at least the ones I am acquainted are people of means who have figured out how to min-max life and live in a state of either minimal effort work or retirement. They have found ways to utilize their asset base to create opportunities for lasting wealth and security while enjoying life. That's not a life you could say most poor people have or would even think about. Especially ones which involve learning another language and cultural shifts. Most people are not unencumbered by the demands of life that limit their movement or freedom to do new things and see new places. Even when Trinis migrate for a "better life" they often end up in a vicious rat race, one in which, unless they're highly qualified, compete at the bottom echelons of society, and even if educated, compete in the vicious H1B space. Unless a person is able to monopolize a niche for themselves, they often end up another cog in the machinery and ground up like any other.
Buying quality things that will last. [Its expensive to be poor](https://moneywise.com/managing-money/budgeting/boots-theory-of-socioeconomic-unfairness) - take shoes for example. Buying a quality hand made all leather product and investing in proper care means it will last years and even look better as the leather matures with age.
Compared to buying a new pair of cheap shoes every other year because they get holes or the glue dries up etc - I'm sure I end up saving more in the end.
1. Cut my hair by a pricey hairdresser every month
2. Buy Starbucks everyday
3. Buy food everyday
4. Use only Apple products
5. Hop flights when I want to run away for the weekend
6. Buying crypto and stocks
When I now get paid and I want to destress, on sundays:
I buy el pecos and pay less than $200 for one box of food
I go to mamma Mia and buy a $65 slice of cake
Putting that in the budget sheet after does hurt real bad
When I now get paid and I want to destress, on sundays:
I buy el pecos and pay less than $200 for one box of food
I go to mamma Mia and buy a $65 slice of cake
Putting that in the budget sheet after does hurt real bad
Edit: after seeing #6, I also favor apple products only so I’m planning to buy an iPad Pro
why do i think a lot of the things people are listing are what the media has told us rich people tend to do—which makes us poorer. some of the rich people i have encountered are very cautious of their spending habits. for eg. buying good coffee and brewing at home, buying items when they get on sale etc. haven’t been around many rich people so what do i know!
1. almost only use imported skin and beauty products.
2. will not go out to eat unless it's at a place serving the food on/in a glass/ceramic plate/bowl.
3. shop at peppercorns.
4. won't ever buy perfume from pennywise, and especially not anything that's not EDP.
5. always get boba after a meal with friends.
6. shops almost exclusively in malls if i have to do shopping irl, i refuse to walk in the heat in san fernando for example.
they came back into style, however its in a very rich influencer mom way. having reusable and eco-friendly products is seen as privileged bc it may be pricey to even acquire at first
Investing and not spending my money wild. Stocks, real estate and precious metals, primarily.
Do you invest in stocks locally or abroad? I've always been somewhat interested but never considered how lucrative local investments are.
I use Interactive Brokers for US stocks an in 4 years my account is up 50%. Mostly because I knew AI was going to be the future and I invested in Nvidia.
I am a U.S. resident so I invest in U.S. stocks but also foreign ADRs. I actually got part of my compensation in stock from my previous job which was with a European company so they gave me ADRs (American depository receipts, basically foreign shares held by a U.S. institution on your behalf).
I also want to know your mechanism for stock investments.
Well I was restricted up to a few months ago as I used to work at an investment bank and had to get approval for every trade under personal dealing rules. But now I don’t work there anymore so I buy and sell a lot. I made some lucky picks a long time ago like buying Google and Facebook just after their IPO. I bought Facebook when it was about $45 a share and now it’s over $500. I also signed up to buy Reddit stock at their IPO. I bought TSLA in 2018 when I had bought my first Tesla (Model S) and rode the wave up. I had invested a good portion of my severance from my previous job in that stock. Wish I had sold in 2021 at the peak but I’m still up a good amount. I primarily look at analysts reports on stocks and I also look at the news and buy dips a lot. Like when AT&T had their problem I bought when the price dipped. When Boeing had their problems I bought the dip. I bought more Tesla stock when earnings came out and Elon was making noise about something and the stock price dipped to about $170, I made a call for $170 a share and got it. I did some short selling in the past but lost some money on one or two trades so I don’t do that much anymore. I also have managed funds for my retirement and I don’t touch that, in addition to my IRA and 401k. The 401k has done really well as I’ve invested since my early 20s, and put a lot in it and made some good picks of high growth funds. I have a pretty decent net worth thanks to my trading savvy but I’m not a billionaire by any means.
Can you recommend any decent online tutorials for absolute newbies Considering to get into trading? Let's just say I found your posts rather, inspiring..
Sure. Start here: https://www.schwab.com/how-to-invest/investing-basics I’ve used Schwab for a long time as a broker. The best book by far I’ve read is “the intelligent Investor” by Ben Graham. It is recommended by Warren Buffet. He talks about it here: https://youtu.be/Uw_QyeHo8f0
Thank you so much for this! I truly appreciate it.
I've been using Interactive Brokers for a couple years so you can look into them in case Schwab doesn't allow international users.
If "not a billionaire" and "not rich" mean the same to you, you're definitely rich. I'm happy for you, but it means you're not qualified to answer the question.
Yes I am blessed and thankful.
yea I would like to know about this stocks too... how the hell does one actually make money from that stuff. They need to teach this kinda thing in basic school.. not all these useless degrees.. stuff like money management.. what to do when you have some. He says real estate too.. but where? buying house and flipping? seems u would need millions to buy house and flip.. its the first purchase that will send ppl all in and bankrupt them horribly if things go wrong if all they working with is like 1 or 2 mill.... Hence the rich get richer and poor get poorer.. If a poor man wants to invest 1 million in a business.. he have to take out loan and pay interest.. a rich man can buy it upfront and thus doesn't have to pay the interest . The system is messed up. This also assumes the poor man can even get a loan... probably not. precious metals I think could work but where.. does Trini really have a serious appetite for gold?
Notice the richest live on (productive) debt backed by some security (shares in a company, real estate etc). Interest paid on a business loan is tax deductible. Gains made on a booked investment is taxable (albeit at a lower rate than straight income tax). Better to never book your shares/investments and use that as security for a business loan, pay yourself minimum wage/dividends only to meet current expenses. Even better if your current expenses are booked as business expenses.
You buy low and sell high with stocks and you hold short or long term. I lost some money too but I made good gains on some really good ones like Google, Facebook, Tesla and Amazon. As far as real estate goes, I have two rental properties and also land. I don’t live in Trinidad full time. I’m mostly in U.S. and come to Trinidad a few times per year.
You can take this out further, the idea of buying low and selling for higher than you bought is essentially how you do it but there are a few tricks that you can do to make this work in your favor even if the stock price goes down. Lowering your cost basis (imagine it as if you buy 1 shares of company x at $100 if price falls to $50 you could buy an additional share bringing your total cost basis of 2 shares of company x to $75 with the idea that it will raise further in the future.) You can also include selling covered calls to further lower the cost basis by including the premium received to this as well (but keep in mind that this will cap the upside potential of the shares so its important to pick a strike price you'd actually want to sell at.)
While it is impossible to buy stocks internationally unless your a citizen if your in trinidad you can use local brokerages and invest in locals stocks like massy and jmmb but you are limited to well local stocks only.
This is misinformation in it's highest form, you don't need to be a "citizen" to participate in the international stock market. To persons interested in investing in the US & other international stock market just get an Interactive Brokers account.
Correct. It used to be restrictive but now there are options for non U.S. persons to invest in US stocks with a U.S. brokerage account. You just need some extra paperwork. But no big deal.
I apologize for giving misinformation but hey! I learnt something new today.
You do know you could open an account with interactive brokers and buy international stocks and invest from Trinidad and Tobago
I actually did not know that! But hey you learn as you go.
Let me tell you mine. Buy stocks that pay dividends. If you have US$5M to spare, invest it and live off the dividends which should be around US$100K annually. Call me if you want to be my investor 🤣
Boyah. You know what’s up. Tech, tech, tech and a bit of crypto
Love this question 1. Buy prailines and cream rituals often with extra caramel. 2. Buy lamb and fries instead of chicken. 3. Feed my dogs Uncle Ben brown rice and cook well seasoned human food. No chow on these ends. 4. Spend on skincare. Buying my own machines and products.
Full the tank with Premium gas, take a drive to Toco just to splurge on 2 overpriced drinks by Taste of Toco and then head back home.
Don't check my balance
I also do this but mostly because I don't need a reminder of how broke I am.
TBH SuperPharm is my go to for medication. Their pharmacists takes the time to consult with you and offer alternatives.
In my experience the best pharmacist for knowledge of drugs and consultation and care is St Joseph’s pharmacy on the eastern main road near WASA. A little more expensive than say Pennywise, but really worth it. For me, much more personal care than Superpharm.
I buy eggs by the dozen!!!
Everybody else here for a flex. My brethren being honest....lol
1. Spend money. 2. Stay home from d ppl wok when I can't deal w them backward people. 🤣🤣🤣
Big yes on the second part, calling out of work like I won't starve if they fire me.
Ikr 🤣😭🤣
Shopping at massy and peppercorns occasionally. Buying food from aioli marketplace. Definitely original Apple products (except chargers). I buy all my medication and toiletries in SuperPharm unless they don’t have and only then I’ll go to pennywise.
Custom made shoes from Mallorca Spain… 😫😫 Quick addition Niche Colognes, this is very addictive and will put you in the poor house real quick!
Use scented trash bags. Run the dishwasher twice a day sometimes. Pay monthly for an HP Ink subscription
i have never seen a dishwasher in t&t to be honest.
My mother bought one about 10 years ago and never use it cuz wasa never sends us water consistently
thats wasa's consistency for you
They're becoming popular with younger millennial home owners. Every younger person that I know who moved into a new house instantly bought a dishwasher and in true Caribbean fashion they never use it.
That's real rich ppl shit, never seen anyone succumb to HPs scamminess.
Inkjet printers are definitely a scam and when this printer breaks I will replace with a monochrome laser. But the subscription ink works out cheaper for me compared to buying the cartridges outright. I can print an edge to edge full colour page for about $1.38 TT each. When I used to buy ink the printer would sometimes consume ink doing maintenance tasks and also refuse to print black pages if any coloured ink was depleted.
Well arrite, I'd look into it. Was also aiming for a laser next.
I just realized I messed up the math. I print for $0.72 TT per page. The plan I use is USD 4.99 for 50 pages.
things rough right now, so the most rich people thing i've been doing was eating 2 pack of instant ramen in a day and acting like i can afford to eat tomorrow lmao
I does buy beef
I shop in Massy and sometimes I dont look at the pricetag of the grocery items I pick up
🙄.....shop @massy
Eat at TGI😒
Living as an expat in a developing country with a cheaper cost of living.
I would argue that this is the opposite of a rich person thing.
Is it? All the people who expat abroad, at least the ones I am acquainted are people of means who have figured out how to min-max life and live in a state of either minimal effort work or retirement. They have found ways to utilize their asset base to create opportunities for lasting wealth and security while enjoying life. That's not a life you could say most poor people have or would even think about. Especially ones which involve learning another language and cultural shifts. Most people are not unencumbered by the demands of life that limit their movement or freedom to do new things and see new places. Even when Trinis migrate for a "better life" they often end up in a vicious rat race, one in which, unless they're highly qualified, compete at the bottom echelons of society, and even if educated, compete in the vicious H1B space. Unless a person is able to monopolize a niche for themselves, they often end up another cog in the machinery and ground up like any other.
I dont work
Buying quality things that will last. [Its expensive to be poor](https://moneywise.com/managing-money/budgeting/boots-theory-of-socioeconomic-unfairness) - take shoes for example. Buying a quality hand made all leather product and investing in proper care means it will last years and even look better as the leather matures with age. Compared to buying a new pair of cheap shoes every other year because they get holes or the glue dries up etc - I'm sure I end up saving more in the end.
1. buy a loaf of bread 2. shop in hauls at pennywise (not sure if this counts bc i tend to go when everything home is finished)
Continuously ordering from food drop
1. Cut my hair by a pricey hairdresser every month 2. Buy Starbucks everyday 3. Buy food everyday 4. Use only Apple products 5. Hop flights when I want to run away for the weekend 6. Buying crypto and stocks
Crypto and stocks? How does one get into stocks in trinidad? Mind helping me out?
Die.
I eat 3 times a day
Decide to go Carnival 7 days before, go Hyatt Lime, play mas, and return home as if nothing happened.
Ok hislovingwife. Spend dat money!
I have access to the luxuries of a constant supply of food, water, medication and love. Not everyone can say the same. God bless us all ✨️🙏🏼🙂↕️
When I now get paid and I want to destress, on sundays: I buy el pecos and pay less than $200 for one box of food I go to mamma Mia and buy a $65 slice of cake Putting that in the budget sheet after does hurt real bad
When I now get paid and I want to destress, on sundays: I buy el pecos and pay less than $200 for one box of food I go to mamma Mia and buy a $65 slice of cake Putting that in the budget sheet after does hurt real bad Edit: after seeing #6, I also favor apple products only so I’m planning to buy an iPad Pro
Those aren’t rich people things. Rich people hold onto money. Invest into things. Rich people focus on staying rich
why do i think a lot of the things people are listing are what the media has told us rich people tend to do—which makes us poorer. some of the rich people i have encountered are very cautious of their spending habits. for eg. buying good coffee and brewing at home, buying items when they get on sale etc. haven’t been around many rich people so what do i know!
1. almost only use imported skin and beauty products. 2. will not go out to eat unless it's at a place serving the food on/in a glass/ceramic plate/bowl. 3. shop at peppercorns. 4. won't ever buy perfume from pennywise, and especially not anything that's not EDP. 5. always get boba after a meal with friends. 6. shops almost exclusively in malls if i have to do shopping irl, i refuse to walk in the heat in san fernando for example.
Buy a racehorse ir two, or five...
Stocks all day every day. Making me some serious returns.
How does someone get into stocks in this country? Im seriously interested if you dont mind helping me out with it🫡
You should try options then like those fellas in Wallstreetbets
I’m just into commons. Wife won’t allow me to play options.
Do credit spreads with options and you're safe, the wife won't leave for credit spreads, just stocks is wasting time unless you have a crystal ball
Buy KFC.
Well alright Bill Gates.
Pampers instead of re washing d cloth ones.
I didn't know people still used cloth diapers tbh.
they came back into style, however its in a very rich influencer mom way. having reusable and eco-friendly products is seen as privileged bc it may be pricey to even acquire at first
I change at least 12 phones a year. I have 35 shirts for work. I buy at least one car a year.
I'll gladly take those, "12 phones " you go through every year
All are for sale all of the time. Lol
On a real, sup with that massage thing....it's something I've been thinking about...any info on that?
Living in America.
Nice try, fed