/biz/ - Business & Finance

>>12375056
All in LINK

>>12375072
Is that a cryptocurrency? They are too volatile for my liking. I would prefer something with less potential to fuck my shit up.

50 dollars a week into bitcoin until the price is 1million USD

>>12375056
Sounds financial advice is hard to come by on /biz/, I have been searching for it myself. I would also say that you could look into REITs if you haven’t already as another consideration, as they pay higher dividends.

>>12375056
>upper-lower/lower-middle class life
In denial about being from white trash family

>>12375056
Nothing is good right now. We're on the verge of a global shitstorm. Put maybe 5% of every pay check into Bitcoin, 5% into gold, keep most in cash and get ready to buy property in 2-3 years.

>>12375103
Well, my parents aren't drug addicts and my brother finally got his shit together after his last arrest so it's not so bad.

>>12375080
It’s not a crypto currency it’s a utility token. We are all convinced it’s the future of smart contracts. At least buy as much as you can afford to lose. Even 1000 link held for long enough might be enough. Good luck new fren.

So you come to biz for financial advice and you dismiss link? You have to go back or lurk more

>>12375056
1. Save enough cash for 6 months of expenses
2. Buy SPY every month.
3. ???
4. Profit.

>>12375072
this

>>12375335
SPY is this right here, correct?
https://finance.yahoo.com/quote/SPY
That looks pretty good. The 25-year growth from 45 to 250 outpaces inflation by quite a lot. I think I could let my money grow in something like this.

According to wiki, SPDR is the second largest ETF provider after iShares and before Vanguard. Does anyone have experience with those other two?

>>12375100
I will look into REITs. My eyes sort of glazed over reading about it so I'll do it when I'm less tired.

>>12375254
I don't know what a smart contract is.

>>12375391
Yes, it is.
Yes, those are all good. It may be a good idea to diversify and split your investments between SPY and VOO, for instance. That way you're slightly more protected.

Keep in mind this is a strategy for 20+ years, and there will be some major drawdowns you have to ignore. But this investment "philosophy" has been the best for a long time.

Some might suggest you buy a basket of 20 to 30 random stocks, since research shows it yields roughly the same result. I think it's to much trouble for a small amount like yours.

REITS are also good, but I wouldn't put more than 10% in them. See what happened in the 2008 crisis.

Don't bother with crypto until a BTC ETF exists. And if that ever happens, do not invest more than 5% in it.

>>12375080
It's pajeet spam not advice just ignore it. The shitstainlink posts are the equivalent to penis pill ads on porn sites. It's nothing but noise just tune that shit out

>>12375056
Save cash for now and learn as much as you can in the meantime. We are due a correction, don't go jumping in yet.

Watch Ray Dalio, Nassim Taleb interviews. Watch Dalio's video about How the Economic Machine Works.

Investopedia for any definitions you don't understand.

Read The Intelligent Investor, The Little Book that (Still) Beats the Market, Warren Buffet's letters to Berkshire Shareholders, The Dao of Capital.

Open a Brokerage account with the lowest fees and get to grips with the interface so that when you're ready to buy you can do easily.

>>12375056
Literally learning from scratch as well op bought some GCSE economics books the other week and slowly reading through them. It seems to be sticking though.

>>12375391
Have you thought about buying bonds on the secondary bond market, less money invested more money when it matures I can't provide sources I just know people do it.

>>12375056
Find a company that's gonna do good and put money into it

>>12375080
Only because you're so respectful in voicing your concerns,

https://blog.goodaudience.com/chainlink-the-missing-piece-to-the-god-protocol-fd455dde92ab
https://medium.com/@The_Crypto_Oracle/the-four-biggest-use-cases-for-chainlink-a0245bd07b66

Read these and you'll understand why this board is fanatical about Chainlink.

>>12375056

My advice as guy that grew up upper middle to lower upper class, became poorfag during recession, and who is now finally earning 6 figs at age 34:

Take a year or two and live it up. Go to bars, restaurants, vacations, fuck chicks. Have a blast, but also improve yourself with exercise, knowledge acquisition, and travel.

During this period you should allocate a percentage of your income to your 401k- I do 10% now and my employer matches 5%, so 15% of my annual income winds up invested in an aggressive growth portfolio. By the time you're 30 or so, and depending on your income, increase your 401k contribution as high as you can while maintaining your desired lifestyle.

On the side, open a standard brokerage account where you can actively buy/sell securities. I recommend the Wells Fargo command account just because it's easy, and there are seamless transfers to and from checking, and all your ATM fees are refunded, including from sketchy ATMs.

Once you're over the fast pace of evenings on the tiles, you'll be ready to buy a home. Absolutely do this. You get cucked on things like insurance and maintenance, but the home will appreciate in value and by the time you're ready to move you'll get a nice check for your equity at the end. We bought ours in 2016 and with the improvements we've made (put in $20k or so) and with market increases, we now have about $50k in equity.

Consider having an IRA. Annual max contributions are in the low 5 figures, so I haven't really bothered. Benefit of such account is the contributions are not taxed until you begin withdrawing after age 60, and then only at the ordinary income rate depending on how much you withdraw. I don't personally see a great benefit to this, other than your contributions can be deducted from your current w2 income.

tl;dr get any partying you want to do out of your system early, meet a woman, buy a house, and actively invest CONSTANTLY

Also buy weedlmao stocks