So I am relatively new to investing. About a year in, and I have always heard over and over again from both people here and my accountant
NEVER BUY ON MARGIN
but something I have noticed is that i am really bad at saving money. If i do have spare money I generally spend it on useless junk
But I am the type of person who is very good at paying bills.
So I had an idea that if I bought on margin, it essentially turns my investing into an obligated bill that I have to pay. I have done it starting with small numbers ($100 or so) and been moving up to close to $1000 each time. And each time I pay it off like a standard bill
With the economy crashing I was thinking of taking the maximum amount of margin out that is available to me and buying up all the stocks that I want but was looking for an opportunity to do so.
Would it be a bad idea in my specific situation to buy on margin? Do the cons outweigh the psychological trick I have invented that sort of forces me to invest?
Leave a Reply