Invest into stocks or buy first car?
- Thread starter Harrison Sawyer
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It's very nice that he can help you but in the end I think you should be responsible for your money. In my opinion you should be able to come up with a proper strategy, read charts and do risk management yourself. But it's great to have a mentor for this!
Talk to your dads financial advisor friend about this, not a forum of the most stupid people in the universe.[DOUBLEPOST=1592127544][/DOUBLEPOST]
DO NOT TAKE THIS PERSONS ADVICE.
lol i just wanted to see opinions here tbh cuz i know there are some smart people that have done the same decision etc
https://en.wikipedia.org/wiki/Pump_and_dump
https://en.wikipedia.org/wiki/Bagholder AKA https://en.wikipedia.org/wiki/You IF YOU FOLLOW CLOWNS ADVICE
And there's a lot more stupid people here who want to tell you to take risks because they're:
A ) trolling you and want to see you fail
B ) broke
C ) too scared to take risks on their own so live vicariously
https://en.wikipedia.org/wiki/Bagholder AKA https://en.wikipedia.org/wiki/You IF YOU FOLLOW CLOWNS ADVICE
And there's a lot more stupid people here who want to tell you to take risks because they're:
A ) trolling you and want to see you fail
B ) broke
C ) too scared to take risks on their own so live vicariously
Ok. So I know most of my statements have been mostly joking.
But did you really just claim I'm gonna pump and dump CCL or SPY?
If you had any knowledge pertaining to stock trading youd know how ridiculous that statement is.
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lol the good thing is idek what CCL or SPY is... if anything i'd do research before following any advice here and talk to my friend's dad before anything.... still mostly leaning towards the car though
Yes because I don't know what CCL or SPY is.
3800 is enough to get you a pretty reliable car that will last you a few years. By the time you’re done with it you’ll have enough dough to put some into stocks. Do you live in a major city? That’s the only thing I’d say that would influence this descision that heavily
Then don't make comments about whether or not people should trade stock, yet alone say " If you follow this random advice, you'll get led into a pump and dump " .
Am I the worlds most experienced trader? No.
But am I "pumping and dumping"? No.
Even a simple Google search could have revealed this info
SPY = S&P 500 ETF Trust
Mrkt Cap : 274B
CCL = Carnival Cruise Lines
Mrkt Cap : 15B
I'm flattered you think I have a few billion lying around but I mean it's mcm so I'm not sure what you expected
Not really a major city, but my work is a decent distance and the bus isn't reliable... sometimes it runs late or shows up early and leaves....
I’d cop a car or something then. It’ll make the grind easier
QUOTE="Harrison Sawyer, post: 4561811, member: 37121"]Not really a major city, but my work is a decent distance and the bus isn't reliable... sometimes it runs late or shows up early and leaves....[/QUOTE]
If you need a car and can justify it - go for it.
Otherwise use public transport. Insurance costs will drop significantly as you get a bit older.
If you need a car and can justify it - go for it.
Otherwise use public transport. Insurance costs will drop significantly as you get a bit older.
Only issue is I talked to my parents and I should have around at least $500-600 for tags, title and insurance.... so I am looking at 3-3.2k and then whatever i have left i will invest or just keep. overall i think i am going for the car tbh
If you buy a car instead of investing into something you are fully retarded.
You need to have a look at the bigger picture. If you do not know much about stocks I would stay away from buying into companies during this time, instead invest into a fund. Your savings won't get you much in terms of land so I would disregard that completely - plus you are young and you may need to get access to the cash a little further down the line if something unexpected pops up. Investing into a fund and/or dividend paying stocks is probably the safest and most liquid thing, buying land is not very liquid at all.
Personally I trade the forex market on a daily basis and also invest into stocks so I am very educated in the space.
My biggest reasoning for you not buying a car is that you instead of buying things like that with the money you've saved from working your jobs is to invest that money, and then use the profits from the investment to buy a car.
Trust me you will not regret investing your money and I guarantee in the future you would be kicking yourself if you bought a car instead of investing it.
Any questions please DM me.
You need to have a look at the bigger picture. If you do not know much about stocks I would stay away from buying into companies during this time, instead invest into a fund. Your savings won't get you much in terms of land so I would disregard that completely - plus you are young and you may need to get access to the cash a little further down the line if something unexpected pops up. Investing into a fund and/or dividend paying stocks is probably the safest and most liquid thing, buying land is not very liquid at all.
Personally I trade the forex market on a daily basis and also invest into stocks so I am very educated in the space.
My biggest reasoning for you not buying a car is that you instead of buying things like that with the money you've saved from working your jobs is to invest that money, and then use the profits from the investment to buy a car.
Trust me you will not regret investing your money and I guarantee in the future you would be kicking yourself if you bought a car instead of investing it.
Any questions please DM me.
Get a car, then work up to buy stocks. You're clearly spending a lot of money on transportation, and in the long run of things, getting a car would profit you more money then stocks would. Once you get a car, you can work up and build to get stocks. Get a car worth your time and not one 200K miles and 10MPG. Within your budget, you can get a Toyota that gets around 25MPG.
Real job? lol I worked at a movie theater before the virus... idk what you consider a real job...
I personally would say to buy a car, the amount of money you currently have saved isn’t really enough for a good amount of land. If you were to save another year though I would 100% say go Invest it into land. My father and myself have quite a few houses between us and if you have enough money they set you up for life.
Hope you found your answer!
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