April 9, 2025 • 30 mins
Financial independence while living with disability might seem like an impossible dream, but this episode shatters that misconception. Our guest Paul, a self-taught investor, breaks down realistic investment strategies that work even on limited disability incomes.
Starting with just $15-20 per month, Paul explains how platforms like Robinhood make investing accessible to beginners. He takes us through the pros and cons of various investment vehicles, from penny stocks (which offer quick returns but require constant attention) to cryptocurrency (highly volatile but educational for beginners). Most valuable is his breakdown of "paper trading" — a risk-free way to practice investment strategies using virtual money before committing actual funds.
For younger listeners, Paul makes a compelling case for Roth IRAs as a path to long-term wealth building. The math is startling: consistent small contributions from an early age can potentially grow to substantial retirement funds, all while being tax-advantaged in a way that particularly benefits those on fixed incomes.
Perhaps most reassuring is the confirmation that modest investment activities won't jeopardize disability benefits. As long as investment income remains below poverty-level thresholds, disabled investors can explore wealth-building without endangering their essential support systems.
Whether you're completely new to investing or looking to optimize your approach while navigating disability benefits, this episode provides practical, actionable advice from someone who's learned through experience. Ready to start your investment journey? Listen now, and discover how even limited resources can grow into meaningful financial independence.
I got a bit carried away with the last couple guests in that Palmi and I both agreed before this season to limit the time on our episodes to @30 min. This has left me with needing to edit the past couple episodes into two parts.
https://www.webull.com
https;//www.robinhood.com
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Kevin (00:00):
Welcome to our podcast.
When Life Gives you Limits, I'mKevin.
Palmi (00:06):
And I'm Palmi.
We consider ourselvesdisability advocates and intend
to spotlight some disabilityissues and things we find
interesting that we frequentlyencounter when we're out and
about.
Also some history on disabilitythat we find interesting on
(00:29):
disability that we findinteresting.
Kevin (00:30):
Okay, everybody, welcome once again to our podcast with
Life Gives You Lemons.
We have a guest for you today,Paul, who's going to talk a
little bit about what we can doto invest a little bit to
generate a little bit of passiveincome.
We're going to try a coupledifferent angles for investing
(00:52):
per se, so hopefully this issomething that will fall into
almost everybody's style offinancial planning.
So, Paul, how are you doingtoday?
Paul (01:06):
I'm doing good, Kevin, thanks for having me.
Uh, I like to start out bysaying that investing in stock
market is very I wouldn't saydangerous, but you know it
doesn't always go your way.
So never invest money that youdon't have to spare.
(01:30):
It has to be.
Kevin (01:32):
I've always heard this a lot like uh, gambling, just
afford to play around with whatyou can it is afford to lose.
So we're talking, uh, extra $20a month we're not talking about
.
I do ask you about some crypto.
You happen to have enoughdiscretionary income to play
(01:58):
around with crypto and be ableto afford your ups and downs.
That's a very volatile thing,right?
yeah, and I also want to sayPaul is not a financial vet
advisor per se.
He's just been doing this for acouple years and is speaking to
(02:21):
you from experience the lifelessons of do this and don't do
that.
Paul (02:29):
That's right, Kevin.
I've not been trained in thisat all.
Everything I've done, I'vetaught myself.
I just don't want people toinvest money that they can't
afford to lose because right nowthe market's very volatile.
You know, the market took oneof the biggest crashes.
(02:51):
It's taken for it since 2020.
Now that's that's a good thingfor investors, because you want
to buy stocks when they're low.
That's when they're at theirvery lowest point is when you
want to get in, because that'swhen you can make your most
(03:15):
money.
But knowing what stocks to getinto, that's hard and it takes a
lot of research and a lot ofknowing.
It takes a lot of research anda lot of knowing.
The good thing is, through allof this, cryptocurrency has
stabilized.
It really hasn't went down withthe market.
Bitcoin was at $88,000, Ibelieve Friday, which is they're
(03:47):
down from what they were, ofcourse, of $100,000 thousand,
but they didn't take a big dip.
Friday, with everything elseand the crypto market,
everything follows bitcoin,pretty much whatever bitcoin
does, the rest of the marketkind of follows along okay,
let's skip over crypto and getto where we're talking.
Kevin (04:07):
Let's go with, like, uh, the penny stocks you're telling
me about.
Now that's requires a lot ofyour attention, is that right?
Paul (04:17):
it, does it.
Uh, that's a ever-involvingmarket.
Kevin (04:24):
But on the positive side you're talking about spending
very little money.
Paul (04:31):
You can yes, the thing with penny stocks are you can
get in at the bottom, but theycan spike within hours and give
everything back.
It's basically day trading onpenny stocks.
Most penny stocks don't holdtheir gains.
(04:52):
Now there are some that do, butpenny stocks aren't a long-term
investment.
In my what I've seen, there hasbeen, some NVIDIA started out
as a penny stock.
What I've seen there has been,some NVIDIA started out as a
penny stock.
I traded NVIDIA on a pennystock when it was like $7.
And now it has reached, I think, $150.
(05:16):
And it's holding right around$100.
Now, had I known that NVIDIAwas going to do that, yes, I
would have kept that stock, butyou just don't know right yeah,
it's kind of like, in a way,gambling it is comparison, a
useful, for you just have tohave a feel, for you know when
(05:40):
to, when to buy, when to.
Kevin (05:44):
Of course, you've got to do some research that goes along
with it.
So instead of making a guess,you're making an educated guess.
Paul (05:55):
Yes, I will warn people that if you do start looking for
stocks and you get on YouTubeand you start looking at you
know following people or you seepeople on Tik TOK or Facebook a
lot of these people you knowthey're they don't have your
best interest at heart.
(06:16):
All they're trying to do isgain for themselves.
So, you really have to becareful who you listen to.
You know and, uh, I follow aguy his name is Sean Deckmar and
it's Tradecaster, and I've beenfollowing him for a couple of
years, and he has been reallygood.
(06:37):
I mean, he's taught me a lotabout the market and that's what
he does is he teaches, you know, and I still have a lot to
learn, but I do know a lot moreabout it than I did two years
ago yeah, because I researched alot of uh, disability related
(06:57):
issues.
Kevin (06:59):
I get these you know weird channels that pop up on my
YouTube feed.
I've noticed a lot moreAI-generated faceless channels.
They give you some bogus infomixed with some real info so it
(07:21):
doesn't sound totally outlandishbut it sounds almost too good
to be true.
Paul (07:31):
A lot of people are using ai to trade with.
Now they're letting ai, youknow.
But those programs areexpensive, you know, and I don't
know how accurate they arebecause I've not I've not ever
used one of them or know anybodythat has, but I do know people
that are using them.
I know that Nancy Pelosi'shusband uses AI.
(07:53):
That's how he picks a lot ofhis stocks and he's been doing
good, you know, for years.
But even this year he's taken abig hit has he you know, there's
apps out there where you canfollow what the stars or the
politicians are buying and youcan buy the same way they're
(08:15):
buying.
A lot of people they follownancy pelosi because she's been
very successful in the marketbut so far this year the stocks
that they invested in has notbeen doing well, which AI was
heavily what they invested in.
Kevin (08:37):
Again, when you talk about, I mean, she's got quite a
bit of wealth, I guess.
Paul (08:43):
Oh yes, oh yes.
Kevin (08:46):
You know over the years.
So, you know, if her stocksaren't doing well, she's
probably not going to sell themoff until they are.
Paul (08:55):
Right.
Kevin (08:56):
I would imagine.
But I recall the company thatyou had mentioned before, NVIDIA
.
They've been around a lotlonger.
They've just not offered stocksto the public for a long time
and I guess when they did have apublic offering it was shortly
(09:23):
before a big contract.
The government had ordered themand that's when Pelosi bought
the stock right after it waspublicly offered, before the
announcement of the governmentcontract.
But what looks like fraud couldhave been one of the AI
(09:45):
programs.
Paul (09:45):
Like you say, that AI program their husband uses, yeah
, versus her insider knowledgeof a deal I don't I don't know
and not smart enough to knowwhich is which no, I you know
I'm not accusing anybody ofanything, but it sure seems like
politicians get pretty rich youknow, know, and it's on both
(10:08):
sides of the aisle, it's notjust one, you know.
Kevin (10:11):
but it's a lot of them.
Yeah, I agree.
Paul (10:14):
You know they have $174,000 a year salary and
they're all millionaires, youknow.
You tell me how that works.
So well but that's not whatwe're here to discuss today.
We're to discuss how we canhelp your listeners.
Kevin (10:28):
No, we're not.
But I do want to say somethingabout D.
O.
G.
E and Dogecoin, thecryptocurrency.
But the job D.
O.
G.
E.
has been doing.
I'm sure one of the obstaclesthey come across is there was a
(10:51):
period not too long ago when thegovernment and computers I mean
nobody had computers, soeverybody bought something
different.
The government said, okay,greenlight, if you all need
computers to manage your data,go out and buy something off the
(11:14):
shelf.
It's an expenditure that we'llmake sure it gets funded.
And basically, that means somepeople bought a bunch of
computers obsolete now tech andthey've been staying with it
because that's the way it'salways been.
Part of the problem that D.
(11:36):
O.
G.
E.
has is they've got to use theirnewer equipment to work with,
for better or for worse, thanolder equipment.
So, I'm not sure how they'redoing that, and I'd really like
to see it, because they mighthave to be using something that
(12:00):
age-wise is kind of betweentheir new stuff and the old
stuff they're trying to getaccess to.
I think they also are talkingrecommending automation upgrades
to the agencies you visit, ifyou want this this is probably
(12:24):
what you need to look at, andsome of it would be obviously a
hardware buy for their agency orfor the government agency, or a
software buy just to upgradetheir management capabilities.
Paul (12:47):
Well, you're right, technology is coming along fast
and AI is a big part of that,and AI is going to be a part of
our future, whether we like itor not.
A lot of people are scaredabout AI and, frankly, I am a
little bit too, because there'sa lot you can do with AI, but
(13:11):
there's a lot of good that comesfrom AI and I believe that you
know, when we were kids and weseen the Jetsons and we seen
flying saucers and we thoughtthis was futuristic stuff.
Well, folks, we have cars thatdrive themselves.
Now, you know, we have robotsthat build our cars.
(13:35):
I mean, all this is coming tous now and it's coming fast, and
I truly believe that.
You know AI is here to stay andthe technology is just going to
be overwhelming for a lot ofpeople to understand.
Kevin (13:56):
Let's talk for a minute about software.
What kind of software do yourecommend people use to look
into it, to make their venture alittle easier.
Paul (14:24):
Well, if you're just wanting to be a casual trader
and you're just wanting to spend$15, $20 a month, and try to
buy into a stock, the easiestplatform I can tell you to use
is Robinhood.
Kevin (14:33):
It's the most user-friendly platform out there
, most uh user-friendly platformout there.
Now I've seen a lot of uhRobinhood advertisements is that
a free application?
Paul (14:40):
It is free, it's free to download.
Uh they uh they do make youhook a bank account to it.
You can't use a credit card,you have you hook a bank account
to it.
You know, if that scares you orwhatever, you might want to
start a secondary bank accountand just put a little bit of
(15:00):
money that you want to tradewith in that account and use it
and don't hook your main bankaccount to it.
You know, at first, when I firststarted using it, I'm not going
to lie I didn't like hooking mybank account to it.
So, I started another bankaccount.
But after using it for yearsnow, I feel that it's pretty
(15:21):
safe.
So, I have both of my bankaccounts hooked to it.
But uh, robin hood, but RobinHood is really simple to use.
I mean, some of these platformsare really hard even for me,
and I've been doing that becauseI've been looking to upgrade to
another platform, because I'mlimited what I can do on Robin
(15:44):
Hood, but for a casual personwanting to do this, it's the
perfect application for them touse.
Kevin (15:51):
Is there anything that Robinhood is not suited for?
Paul (15:56):
You can't short stocks on Robinhood which, if you're not
familiar with the stock market,shorting a stock is you're
betting on it to go down.
You know, like S&P 500 Friday,betting on it to go down.
You know if you would haveshorted the S&p; 500 Friday
(16:18):
when it was at 400 and was it446 or 546 dollars and it
shorted down to 508, if youwould have shorted that, you
would have made that differenceon that stock from five, 48 to
five, oh eight.
You know you'd have made 40bucks.
You know.
But now that's just an example.
(16:39):
Obviously, none of us is goingto be able to trade the
S∓ P 500, but there'spenny stocks that you can do
that with too, you know.
So I day trade, which means Idon't stay in a stock, I buy
stock, I ride it to the top, Iget out of it and I go on to the
next one.
What I would like to be able todo is just short that same
(17:02):
stock.
You know, Mullin, for instance,Friday went.
It was a penny stock, it was at$0.08, and it went to $0.12.
So, you can buy a lot of sharesfor $20 of a stock like that.
(17:24):
They're very risky because theypump and then they go back down.
What I would like to have beenable to do was to bought that on
the way up, sold it at $0.12,and then shorted it back down,
because it gave it all back andit went back down around $0.04.
I could have made money goingup and I could have made money
going back down, but that's veryrisky because if that stock was
(17:50):
to go above 12 cents ever,however far it goes above 12
cents then you're losing moneyand you have to pay back to the
broker.
So you can get in big troubleshorting stocks and I I really
don't recommend it for someonethat's new, because you could
lose your life savings doingsomething like that.
(18:12):
You know, because it doesn'tmatter how far debt you go,
you're going to owe it to them.
So where, when you buy a stockand you lose money, well then
you just lost what you hadinvested in it.
You know they can't take anymore from you right so uh, for
(18:35):
for your listeners that's notfamiliar with the market, robin
hood would be you can trade uhbitcoin or you can trade doge.
There's several meme coins onRobinhood that you can trade.
Kevin (18:56):
Okay, can you explain?
Paul (18:57):
what a meme coin is.
Okay, a meme coin Just ingeneral terms.
It's not a tangible coin, likeBitcoin is.
Kevin (19:09):
Right.
Paul (19:11):
All.
Crypto is not.
It's hard for people to graspwhat crypto is.
It's hard for me to grasp whatcrypto is because there's
nothing behind it.
I mean, it's just out there.
But meme coins, they weredesigned to just be funny, they
(19:32):
were just designed not to beserious, and most of them aren't
.
Doge took off because Elon Muskgot behind it and Mark Cuban
got behind it.
When these people got behind it, then the whole country, the
(19:55):
whole world, got behind it.
So everybody knows what youknow Doge is.
You know, but it's not likeBitcoin, bitcoin, it, you know.
Bitcoin has subsidiaries thattrade on their market.
(20:18):
You know they have ATFs Is thatright?
Atfs, Efts Is that right?
ETFs I'm sorry, has ETFcompanies that trade along with
Bitcoin?
Right, you know, doge hasnothing like that.
You know.
But you can make money tradingDoge.
(20:46):
The thing about somebody thatdoesn't have a lot of money to
spend trading something likeDoge is a good way to get
started.
That's how I got started,because you can sit there and
watch.
Do those for a few days beforeyou ever put your it and watch
(21:06):
how it fluctuates, and it'llfluctuate three or four pennies.
You know one way or the other.
So, what you want to do is waituntil you see it.
You know drop.
You say I haven't looked at itday, but I think yesterday it
was like at 17 or 18 cents iswhat it was trading at.
(21:29):
If you watch that for a fewdays, it might drop down to 13
cents.
So buy 20 bucks of it at 13cents a share.
When it gets back up to 17,sell it off, take your profits
off, wait for it to go back downagain.
And you know, say you madethree or four dollars on it.
(21:50):
So the next time you buy, youknow maybe you got 23 to buy it
and you just keep growing itthat way.
I mean it's.
It's a slow process, but itgets you used to trading in the
market.
It gets you used to watching astock and seeing how it reacts
to news.
(22:11):
And if you see Bitcoin going up,then you're going to see Doge
follow.
Nothing is drastic, but it willfollow a little bit.
And there's others, but it willfollow it.
You know a little bit andthere's others.
You know there's shibu.
Robin hood's got a couple ofothers on there.
Now I can't think the name ofthem, but they're, they're cheap
(22:34):
.
They're cheap cryptos that youcan buy and, uh, gives you
something to play with andunderstand how the market works
and you can make a few bucks.
You know, I don't recommendputting your money in and just
sitting on hoping to get richbecause you're not going to do
that with, with doge or anything.
(22:55):
I mean, you'll hear all kindsof people say oh, it's going to
go to the moon, it's going to bea dollar next year.
Well, I've been trading goingto go to the moon, it's going to
be a dollar next year.
Well, I've been trading dogefor about four years and I've
been hearing that for four yearsit's never happened.
And that's people that I wastalking about earlier trying to
get you to.
You know, hold on, not sellyour stock off because they're
(23:18):
wanting to sell theirs off at ahigher price.
You sell yours off.
Kevin (23:21):
Right.
Paul (23:24):
I'm rambling, I know, but there's other ways, you know,
other than in the market, thatyou can invest your money.
If you're you know.
If any of your listeners areyounger, you know, and they're
disabled or they can't work andthey're on fixed income,
whatever it may be, I suggest aRoth IRA.
(23:48):
I would rather see someonethat's younger put their money
into that, because you take your$20 a week, you throw it in
this Roth IRA and what a Rothdoes is it pays taxes as you put
it in.
(24:09):
So whenever you draw your moneyout, you don't have to pay
taxes on it.
The taxes is already paid.
And you know?
There's a guy named Ramsey Ican't think of his first name,
boy, I'm terrible at this, butanyway he talks about that.
You know, if you're 20 yearsold and you put $50 a month into
(24:35):
a Roth IRA that's, you know,compounding daily by the time
you retire you'll have over amillion dollars in your account.
And I've got my youngest boydoing it, my oldest boy.
He's stubborn, he don't want tolisten to old dad.
But so if you're younger, ifyou're in your 30s, even in your
(25:01):
40s, if you're in your 30s,even in your 40s, a Roth IRA is
a pretty safe way to make yourmoney and grow wealth for your
retirement.
Older people like us, it's notnecessarily a good move.
I mean we can do it too.
Kevin (25:26):
We would just have to put more money into it for us to
see the right.
Paul (25:29):
That's what I would suggest.
You know, just the stockmarket's fun, don't get me wrong
and you can make money in thestock market, but it can also be
just like gambling.
It can get addictive, I mean,and uh, but I enjoy it and I've
(25:50):
really really studied a lot inthe last two years and I still
have so much to learn.
I don't I would be afraid stillto make a huge investment in
the market because I, uh, I knowit's one of the questions you
talked about was paper trading.
Uh, I do a lot of paper tradingwith bigger stocks, more money,
(26:16):
and paper trading is you're notusing, you're not using real
money.
You're using an app that youcan trade the stock market just
like with real money.
But it's just an app and youcan, you can go in, you can type
(26:38):
in any stock that you want andyou can buy as much of that
stock as you want.
You can say, uh, we will hasprobably the best paper trading.
It's a, it's a broker app, justlike robin hood, but it's a lot
more complicated to work, exceptfor the paper trading part of
(26:59):
it and it's real simple and soyou can go in and you can set it
up.
You know it's paper money, it'snot real.
You can set it up as up to amillion dollars in there if you
want.
Or you can be more realisticand say okay, you know, I'm
going to fund my account withfive hundred dollars, so you can
(27:19):
put five hundred dollars andyou start it with five hundred
dollars and you can just starttrading stocks and see how well
your instincts are.
The good thing about papermoney is it's not real.
So if you, if you blow up youraccount and you lose all your
money, you just restart it andyou start over again and,
honestly, anybody that'sthinking about getting into the
(27:42):
stock market, this is how theyneed to start.
If I would have started thisway, it would have saved me a
lot of money and a lot ofheartache.
Kevin (27:53):
Okay, for the listeners that don't know, let me explain
how this works with SocialSecurity, ssi and SSDI and your
various other programs like theVA.
As long as you do not make morethan the poverty level income,
(28:22):
you're fine.
Poverty level income, you'refine, it doesn't count for.
Hi folks, it's Kevin again.
What I wanted to do was takecare of a little bit of
housekeeping.
We ended our interview rightthere and we'll continue again
on the next episode with Paul.
(28:44):
So if you're looking for adetailed description, you can
use the transcript and we'llprint out what we're talking
about right now.
But I wanted to clarify onething before we got to the Husky
(29:04):
theme from the podcast.
In the very beginning of theinterview, we talked about Doge,
that's, the Department ofGovernment Efficiency D period,
o period, g period, e period.
Later on, when we talked aboutcryptocurrency, doge is a crypto
(29:29):
coin.
There are no periods.
That's just a name, it's not anacronym.
So anyway, getting back to thehousekeeping, please send us
spam, mail or email with anyinput you have, as well as, if
(29:53):
you would be so kind, take thetime to rate our podcast with
your download, with your podcastplayer app, and let us know how
we're doing.
Thanks, until next episode,take those lemons and make your
own lemon date.
Welcome to our podcast.
When Life Gives you Limits, I'mKevin.
Palmi (00:06):
And I'm Palmi.
We consider ourselvesdisability advocates and intend
to spotlight some disabilityissues and things we find
interesting that we frequentlyencounter when we're out and
about.
Also some history on disabilitythat we find interesting on
(00:29):
disability that we findinteresting.
Kevin (00:30):
Okay, everybody, welcome once again to our podcast with
Life Gives You Lemons.
We have a guest for you today,Paul, who's going to talk a
little bit about what we can doto invest a little bit to
generate a little bit of passiveincome.
We're going to try a coupledifferent angles for investing
(00:52):
per se, so hopefully this issomething that will fall into
almost everybody's style offinancial planning.
So, Paul, how are you doingtoday?
Paul (01:06):
I'm doing good, Kevin, thanks for having me.
Uh, I like to start out bysaying that investing in stock
market is very I wouldn't saydangerous, but you know it
doesn't always go your way.
So never invest money that youdon't have to spare.
(01:30):
It has to be.
Kevin (01:32):
I've always heard this a lot like uh, gambling, just
afford to play around with whatyou can it is afford to lose.
So we're talking, uh, extra $20a month we're not talking about
.
I do ask you about some crypto.
You happen to have enoughdiscretionary income to play
(01:58):
around with crypto and be ableto afford your ups and downs.
That's a very volatile thing,right?
yeah, and I also want to sayPaul is not a financial vet
advisor per se.
He's just been doing this for acouple years and is speaking to
(02:21):
you from experience the lifelessons of do this and don't do
that.
Paul (02:29):
That's right, Kevin.
I've not been trained in thisat all.
Everything I've done, I'vetaught myself.
I just don't want people toinvest money that they can't
afford to lose because right nowthe market's very volatile.
You know, the market took oneof the biggest crashes.
(02:51):
It's taken for it since 2020.
Now that's that's a good thingfor investors, because you want
to buy stocks when they're low.
That's when they're at theirvery lowest point is when you
want to get in, because that'swhen you can make your most
(03:15):
money.
But knowing what stocks to getinto, that's hard and it takes a
lot of research and a lot ofknowing.
It takes a lot of research anda lot of knowing.
The good thing is, through allof this, cryptocurrency has
stabilized.
It really hasn't went down withthe market.
Bitcoin was at $88,000, Ibelieve Friday, which is they're
(03:47):
down from what they were, ofcourse, of $100,000 thousand,
but they didn't take a big dip.
Friday, with everything elseand the crypto market,
everything follows bitcoin,pretty much whatever bitcoin
does, the rest of the marketkind of follows along okay,
let's skip over crypto and getto where we're talking.
Kevin (04:07):
Let's go with, like, uh, the penny stocks you're telling
me about.
Now that's requires a lot ofyour attention, is that right?
Paul (04:17):
it, does it.
Uh, that's a ever-involvingmarket.
Kevin (04:24):
But on the positive side you're talking about spending
very little money.
Paul (04:31):
You can yes, the thing with penny stocks are you can
get in at the bottom, but theycan spike within hours and give
everything back.
It's basically day trading onpenny stocks.
Most penny stocks don't holdtheir gains.
(04:52):
Now there are some that do, butpenny stocks aren't a long-term
investment.
In my what I've seen, there hasbeen, some NVIDIA started out
as a penny stock.
What I've seen there has been,some NVIDIA started out as a
penny stock.
I traded NVIDIA on a pennystock when it was like $7.
And now it has reached, I think, $150.
(05:16):
And it's holding right around$100.
Now, had I known that NVIDIAwas going to do that, yes, I
would have kept that stock, butyou just don't know right yeah,
it's kind of like, in a way,gambling it is comparison, a
useful, for you just have tohave a feel, for you know when
(05:40):
to, when to buy, when to.
Kevin (05:44):
Of course, you've got to do some research that goes along
with it.
So instead of making a guess,you're making an educated guess.
Paul (05:55):
Yes, I will warn people that if you do start looking for
stocks and you get on YouTubeand you start looking at you
know following people or you seepeople on Tik TOK or Facebook a
lot of these people you knowthey're they don't have your
best interest at heart.
(06:16):
All they're trying to do isgain for themselves.
So, you really have to becareful who you listen to.
You know and, uh, I follow aguy his name is Sean Deckmar and
it's Tradecaster, and I've beenfollowing him for a couple of
years, and he has been reallygood.
(06:37):
I mean, he's taught me a lotabout the market and that's what
he does is he teaches, you know, and I still have a lot to
learn, but I do know a lot moreabout it than I did two years
ago yeah, because I researched alot of uh, disability related
(06:57):
issues.
Kevin (06:59):
I get these you know weird channels that pop up on my
YouTube feed.
I've noticed a lot moreAI-generated faceless channels.
They give you some bogus infomixed with some real info so it
(07:21):
doesn't sound totally outlandishbut it sounds almost too good
to be true.
Paul (07:31):
A lot of people are using ai to trade with.
Now they're letting ai, youknow.
But those programs areexpensive, you know, and I don't
know how accurate they arebecause I've not I've not ever
used one of them or know anybodythat has, but I do know people
that are using them.
I know that Nancy Pelosi'shusband uses AI.
(07:53):
That's how he picks a lot ofhis stocks and he's been doing
good, you know, for years.
But even this year he's taken abig hit has he you know, there's
apps out there where you canfollow what the stars or the
politicians are buying and youcan buy the same way they're
(08:15):
buying.
A lot of people they follownancy pelosi because she's been
very successful in the marketbut so far this year the stocks
that they invested in has notbeen doing well, which AI was
heavily what they invested in.
Kevin (08:37):
Again, when you talk about, I mean, she's got quite a
bit of wealth, I guess.
Paul (08:43):
Oh yes, oh yes.
Kevin (08:46):
You know over the years.
So, you know, if her stocksaren't doing well, she's
probably not going to sell themoff until they are.
Paul (08:55):
Right.
Kevin (08:56):
I would imagine.
But I recall the company thatyou had mentioned before, NVIDIA
.
They've been around a lotlonger.
They've just not offered stocksto the public for a long time
and I guess when they did have apublic offering it was shortly
(09:23):
before a big contract.
The government had ordered themand that's when Pelosi bought
the stock right after it waspublicly offered, before the
announcement of the governmentcontract.
But what looks like fraud couldhave been one of the AI
(09:45):
programs.
Paul (09:45):
Like you say, that AI program their husband uses, yeah
, versus her insider knowledgeof a deal I don't I don't know
and not smart enough to knowwhich is which no, I you know
I'm not accusing anybody ofanything, but it sure seems like
politicians get pretty rich youknow, know, and it's on both
(10:08):
sides of the aisle, it's notjust one, you know.
Kevin (10:11):
but it's a lot of them.
Yeah, I agree.
Paul (10:14):
You know they have $174,000 a year salary and
they're all millionaires, youknow.
You tell me how that works.
So well but that's not whatwe're here to discuss today.
We're to discuss how we canhelp your listeners.
Kevin (10:28):
No, we're not.
But I do want to say somethingabout D.
O.
G.
E and Dogecoin, thecryptocurrency.
But the job D.
O.
G.
E.
has been doing.
I'm sure one of the obstaclesthey come across is there was a
(10:51):
period not too long ago when thegovernment and computers I mean
nobody had computers, soeverybody bought something
different.
The government said, okay,greenlight, if you all need
computers to manage your data,go out and buy something off the
(11:14):
shelf.
It's an expenditure that we'llmake sure it gets funded.
And basically, that means somepeople bought a bunch of
computers obsolete now tech andthey've been staying with it
because that's the way it'salways been.
Part of the problem that D.
(11:36):
O.
G.
E.
has is they've got to use theirnewer equipment to work with,
for better or for worse, thanolder equipment.
So, I'm not sure how they'redoing that, and I'd really like
to see it, because they mighthave to be using something that
(12:00):
age-wise is kind of betweentheir new stuff and the old
stuff they're trying to getaccess to.
I think they also are talkingrecommending automation upgrades
to the agencies you visit, ifyou want this this is probably
(12:24):
what you need to look at, andsome of it would be obviously a
hardware buy for their agency orfor the government agency, or a
software buy just to upgradetheir management capabilities.
Paul (12:47):
Well, you're right, technology is coming along fast
and AI is a big part of that,and AI is going to be a part of
our future, whether we like itor not.
A lot of people are scaredabout AI and, frankly, I am a
little bit too, because there'sa lot you can do with AI, but
(13:11):
there's a lot of good that comesfrom AI and I believe that you
know, when we were kids and weseen the Jetsons and we seen
flying saucers and we thoughtthis was futuristic stuff.
Well, folks, we have cars thatdrive themselves.
Now, you know, we have robotsthat build our cars.
(13:35):
I mean, all this is coming tous now and it's coming fast, and
I truly believe that.
You know AI is here to stay andthe technology is just going to
be overwhelming for a lot ofpeople to understand.
Kevin (13:56):
Let's talk for a minute about software.
What kind of software do yourecommend people use to look
into it, to make their venture alittle easier.
Paul (14:24):
Well, if you're just wanting to be a casual trader
and you're just wanting to spend$15, $20 a month, and try to
buy into a stock, the easiestplatform I can tell you to use
is Robinhood.
Kevin (14:33):
It's the most user-friendly platform out there
, most uh user-friendly platformout there.
Now I've seen a lot of uhRobinhood advertisements is that
a free application?
Paul (14:40):
It is free, it's free to download.
Uh they uh they do make youhook a bank account to it.
You can't use a credit card,you have you hook a bank account
to it.
You know, if that scares you orwhatever, you might want to
start a secondary bank accountand just put a little bit of
(15:00):
money that you want to tradewith in that account and use it
and don't hook your main bankaccount to it.
You know, at first, when I firststarted using it, I'm not going
to lie I didn't like hooking mybank account to it.
So, I started another bankaccount.
But after using it for yearsnow, I feel that it's pretty
(15:21):
safe.
So, I have both of my bankaccounts hooked to it.
But uh, robin hood, but RobinHood is really simple to use.
I mean, some of these platformsare really hard even for me,
and I've been doing that becauseI've been looking to upgrade to
another platform, because I'mlimited what I can do on Robin
(15:44):
Hood, but for a casual personwanting to do this, it's the
perfect application for them touse.
Kevin (15:51):
Is there anything that Robinhood is not suited for?
Paul (15:56):
You can't short stocks on Robinhood which, if you're not
familiar with the stock market,shorting a stock is you're
betting on it to go down.
You know, like S&P 500 Friday,betting on it to go down.
You know if you would haveshorted the S&p; 500 Friday
(16:18):
when it was at 400 and was it446 or 546 dollars and it
shorted down to 508, if youwould have shorted that, you
would have made that differenceon that stock from five, 48 to
five, oh eight.
You know you'd have made 40bucks.
You know.
But now that's just an example.
(16:39):
Obviously, none of us is goingto be able to trade the
S∓ P 500, but there'spenny stocks that you can do
that with too, you know.
So I day trade, which means Idon't stay in a stock, I buy
stock, I ride it to the top, Iget out of it and I go on to the
next one.
What I would like to be able todo is just short that same
(17:02):
stock.
You know, Mullin, for instance,Friday went.
It was a penny stock, it was at$0.08, and it went to $0.12.
So, you can buy a lot of sharesfor $20 of a stock like that.
(17:24):
They're very risky because theypump and then they go back down.
What I would like to have beenable to do was to bought that on
the way up, sold it at $0.12,and then shorted it back down,
because it gave it all back andit went back down around $0.04.
I could have made money goingup and I could have made money
going back down, but that's veryrisky because if that stock was
(17:50):
to go above 12 cents ever,however far it goes above 12
cents then you're losing moneyand you have to pay back to the
broker.
So you can get in big troubleshorting stocks and I I really
don't recommend it for someonethat's new, because you could
lose your life savings doingsomething like that.
(18:12):
You know, because it doesn'tmatter how far debt you go,
you're going to owe it to them.
So where, when you buy a stockand you lose money, well then
you just lost what you hadinvested in it.
You know they can't take anymore from you right so uh, for
(18:35):
for your listeners that's notfamiliar with the market, robin
hood would be you can trade uhbitcoin or you can trade doge.
There's several meme coins onRobinhood that you can trade.
Kevin (18:56):
Okay, can you explain?
Paul (18:57):
what a meme coin is.
Okay, a meme coin Just ingeneral terms.
It's not a tangible coin, likeBitcoin is.
Kevin (19:09):
Right.
Paul (19:11):
All.
Crypto is not.
It's hard for people to graspwhat crypto is.
It's hard for me to grasp whatcrypto is because there's
nothing behind it.
I mean, it's just out there.
But meme coins, they weredesigned to just be funny, they
(19:32):
were just designed not to beserious, and most of them aren't
.
Doge took off because Elon Muskgot behind it and Mark Cuban
got behind it.
When these people got behind it, then the whole country, the
(19:55):
whole world, got behind it.
So everybody knows what youknow Doge is.
You know, but it's not likeBitcoin, bitcoin, it, you know.
Bitcoin has subsidiaries thattrade on their market.
(20:18):
You know they have ATFs Is thatright?
Atfs, Efts Is that right?
ETFs I'm sorry, has ETFcompanies that trade along with
Bitcoin?
Right, you know, doge hasnothing like that.
You know.
But you can make money tradingDoge.
(20:46):
The thing about somebody thatdoesn't have a lot of money to
spend trading something likeDoge is a good way to get
started.
That's how I got started,because you can sit there and
watch.
Do those for a few days beforeyou ever put your it and watch
(21:06):
how it fluctuates, and it'llfluctuate three or four pennies.
You know one way or the other.
So, what you want to do is waituntil you see it.
You know drop.
You say I haven't looked at itday, but I think yesterday it
was like at 17 or 18 cents iswhat it was trading at.
(21:29):
If you watch that for a fewdays, it might drop down to 13
cents.
So buy 20 bucks of it at 13cents a share.
When it gets back up to 17,sell it off, take your profits
off, wait for it to go back downagain.
And you know, say you madethree or four dollars on it.
(21:50):
So the next time you buy, youknow maybe you got 23 to buy it
and you just keep growing itthat way.
I mean it's.
It's a slow process, but itgets you used to trading in the
market.
It gets you used to watching astock and seeing how it reacts
to news.
(22:11):
And if you see Bitcoin going up,then you're going to see Doge
follow.
Nothing is drastic, but it willfollow a little bit.
And there's others, but it willfollow it.
You know a little bit andthere's others.
You know there's shibu.
Robin hood's got a couple ofothers on there.
Now I can't think the name ofthem, but they're, they're cheap
(22:34):
.
They're cheap cryptos that youcan buy and, uh, gives you
something to play with andunderstand how the market works
and you can make a few bucks.
You know, I don't recommendputting your money in and just
sitting on hoping to get richbecause you're not going to do
that with, with doge or anything.
(22:55):
I mean, you'll hear all kindsof people say oh, it's going to
go to the moon, it's going to bea dollar next year.
Well, I've been trading goingto go to the moon, it's going to
be a dollar next year.
Well, I've been trading dogefor about four years and I've
been hearing that for four yearsit's never happened.
And that's people that I wastalking about earlier trying to
get you to.
You know, hold on, not sellyour stock off because they're
(23:18):
wanting to sell theirs off at ahigher price.
You sell yours off.
Kevin (23:21):
Right.
Paul (23:24):
I'm rambling, I know, but there's other ways, you know,
other than in the market, thatyou can invest your money.
If you're you know.
If any of your listeners areyounger, you know, and they're
disabled or they can't work andthey're on fixed income,
whatever it may be, I suggest aRoth IRA.
(23:48):
I would rather see someonethat's younger put their money
into that, because you take your$20 a week, you throw it in
this Roth IRA and what a Rothdoes is it pays taxes as you put
it in.
(24:09):
So whenever you draw your moneyout, you don't have to pay
taxes on it.
The taxes is already paid.
And you know?
There's a guy named Ramsey Ican't think of his first name,
boy, I'm terrible at this, butanyway he talks about that.
You know, if you're 20 yearsold and you put $50 a month into
(24:35):
a Roth IRA that's, you know,compounding daily by the time
you retire you'll have over amillion dollars in your account.
And I've got my youngest boydoing it, my oldest boy.
He's stubborn, he don't want tolisten to old dad.
But so if you're younger, ifyou're in your 30s, even in your
(25:01):
40s, if you're in your 30s,even in your 40s, a Roth IRA is
a pretty safe way to make yourmoney and grow wealth for your
retirement.
Older people like us, it's notnecessarily a good move.
I mean we can do it too.
Kevin (25:26):
We would just have to put more money into it for us to
see the right.
Paul (25:29):
That's what I would suggest.
You know, just the stockmarket's fun, don't get me wrong
and you can make money in thestock market, but it can also be
just like gambling.
It can get addictive, I mean,and uh, but I enjoy it and I've
(25:50):
really really studied a lot inthe last two years and I still
have so much to learn.
I don't I would be afraid stillto make a huge investment in
the market because I, uh, I knowit's one of the questions you
talked about was paper trading.
Uh, I do a lot of paper tradingwith bigger stocks, more money,
(26:16):
and paper trading is you're notusing, you're not using real
money.
You're using an app that youcan trade the stock market just
like with real money.
But it's just an app and youcan, you can go in, you can type
(26:38):
in any stock that you want andyou can buy as much of that
stock as you want.
You can say, uh, we will hasprobably the best paper trading.
It's a, it's a broker app, justlike robin hood, but it's a lot
more complicated to work, exceptfor the paper trading part of
(26:59):
it and it's real simple and soyou can go in and you can set it
up.
You know it's paper money, it'snot real.
You can set it up as up to amillion dollars in there if you
want.
Or you can be more realisticand say okay, you know, I'm
going to fund my account withfive hundred dollars, so you can
(27:19):
put five hundred dollars andyou start it with five hundred
dollars and you can just starttrading stocks and see how well
your instincts are.
The good thing about papermoney is it's not real.
So if you, if you blow up youraccount and you lose all your
money, you just restart it andyou start over again and,
honestly, anybody that'sthinking about getting into the
(27:42):
stock market, this is how theyneed to start.
If I would have started thisway, it would have saved me a
lot of money and a lot ofheartache.
Kevin (27:53):
Okay, for the listeners that don't know, let me explain
how this works with SocialSecurity, ssi and SSDI and your
various other programs like theVA.
As long as you do not make morethan the poverty level income,
(28:22):
you're fine.
Poverty level income, you'refine, it doesn't count for.
Hi folks, it's Kevin again.
What I wanted to do was takecare of a little bit of
housekeeping.
We ended our interview rightthere and we'll continue again
on the next episode with Paul.
(28:44):
So if you're looking for adetailed description, you can
use the transcript and we'llprint out what we're talking
about right now.
But I wanted to clarify onething before we got to the Husky
(29:04):
theme from the podcast.
In the very beginning of theinterview, we talked about Doge,
that's, the Department ofGovernment Efficiency D period,
o period, g period, e period.
Later on, when we talked aboutcryptocurrency, doge is a crypto
(29:29):
coin.
There are no periods.
That's just a name, it's not anacronym.
So anyway, getting back to thehousekeeping, please send us
spam, mail or email with anyinput you have, as well as, if
(29:53):
you would be so kind, take thetime to rate our podcast with
your download, with your podcastplayer app, and let us know how
we're doing.
Thanks, until next episode,take those lemons and make your
own lemon date.
Host
Jetheswaran Gunasekaran
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