I am 17 years old and about to go into college. I have about $1,500 saved up and am wondering what you guys think the best way to go about investing it is. I really have no experience online investing besides Fortnite accounts, but I am looking for something new. If anyone has any tips or advice that would be appreciated.
How to Invest?
- Thread starter Nibsz
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About that... I've basically learned the basics of Java, but I don't really know where to take it from there. Like is there a certain pathway that people follow or is it really just up to you? Also do people mainly learn from books or just try and do stuff on their own and figure it out along the way?
Java may not be the best language to try and learn as your first language (I've been there lol).
Although if you're looking to make mc plugins, you're on the right path. There really isn't a set path people take, but I noticed I learned best from books and then using that knowledge for projects. Yes making your own projects is the most satisfying thing when it comes to programming. And such a project might earn you money anyway so really no downside to it.
My best advice would be to try and learn something like making an (android/ios) app and put it on the store. Apps can boom and can earn you lots of money. Of course if you already have ideas in mind, go ahead and try them out.
P.S. if you ever get stuck or need assistance, feel free to PM me.
I mean obvious answer...get a job. I worked at a decent bar and grill years ago and made around $500-800 a week with my paycheck and tips then saved up enough to pay rent for a year ish then used half of the remaining money to start new projects. Other half just went into savings for a bad day
If you only have $1500 it's not much for investments and most of them probably are not even suitable. You can setup a webshop that sells products from sites like Ebay, AlieExpress like dropshipping, but without the super long delivery time. Buy some products in stock, Make a website and Do some advertisement people are always willing to pay 2-5 euro extra if it means they can get the product next day or within the same week.
I HIGHLY recommend searching "FIRE" and Mr Money Mustache. Read his blog and stuff. The general idea is you invest your money in ETFs such as Total Stock Market and S&P 500.
However, if you'd like you can also try to get into Day/Swing trading (Analytical investing) or individually picking stocks for long term investing (Using Fundamentals). The benefits of using an ETF or mutual fund, however, is it's a pretty safe way of investing. Use bonds if you want to be VERY safe, I wouldn't recommend it for gains though.
Don't confuse How you make money with Where you put your money. Day/Swing trading is a way to make short term capital gains, not invest it. Crypto, well it can be both. Do what you want with crypto but it's both a risky investment and way of income as it is still pretty new. A good rule of thumb is to have only 10% of money you're investing used for individual stocks, crypto, etc. (With the exception of you being an active trader or brilliant stock picker like Warren Buffet).
Just start reading/watching books, articles, videos, etc. But only if you're really interested in the topic and willing to put in the work and practice.
However, if you'd like you can also try to get into Day/Swing trading (Analytical investing) or individually picking stocks for long term investing (Using Fundamentals). The benefits of using an ETF or mutual fund, however, is it's a pretty safe way of investing. Use bonds if you want to be VERY safe, I wouldn't recommend it for gains though.
Don't confuse How you make money with Where you put your money. Day/Swing trading is a way to make short term capital gains, not invest it. Crypto, well it can be both. Do what you want with crypto but it's both a risky investment and way of income as it is still pretty new. A good rule of thumb is to have only 10% of money you're investing used for individual stocks, crypto, etc. (With the exception of you being an active trader or brilliant stock picker like Warren Buffet).
Just start reading/watching books, articles, videos, etc. But only if you're really interested in the topic and willing to put in the work and practice.
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Agree with this. It's boring as hell but the best way to invest money is to throw a good portion of your income into index funds. Nibsz you're lucky that you're getting into this so early - I'd recommend checking out the financial independence subreddit as well as what was mentioned above.
I hear that investing in the forex and other cryptocurrency markets is a good way of making a lot of money. A general tip when being an investor for projects in particular, always expect an ROI (Return of Investment) that is more than you invested and can be returned to you in a reasonable amount of time.
Cheers.
Cheers.
With all due respect that is what investing IS. Otherwise you'd be a parked car or going in reverse. Like you and i previously stated shorting such as Day or Swing trading is a good way for short term gain. Crypto is so new that it's a good idea to try to short it AS WELL as hold some for long term until the crypto world is more developed. And continue to learn and form your own crypto strategies. All investing for that regard.
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