[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 11 KB, 300x168, bump.jpg [View same] [iqdb] [saucenao] [google]
15492561 No.15492561 [Reply] [Original]

Hey guys, I just turned 18, I have $5,000 in a savings account. What should I do? Invest in gold, silver, stocks? How can I make it financially?

>> No.15492571

>>15492561
silver

>> No.15492575

>>15492561
learn a skill

>> No.15492589

launching hacking tools

>> No.15492591
File: 75 KB, 750x918, 1538163630311.jpg [View same] [iqdb] [saucenao] [google]
15492591

>>15492561
honestly, you should probably keep the $5,000 in the savings account as your emergency money

you'll need it for unexpected medical bills, vet bills, car repairs, emergency plumbing, etc. etc.

when you get more money on top of your $5,000 you can split it between stocks and bitcoin in a 4:1 ratio

>> No.15492593
File: 2 KB, 125x94, 05A4F413-5556-4662-BD7E-530318E998AB.jpg [View same] [iqdb] [saucenao] [google]
15492593

>>15492575
Go take a course somewhere. I hear welding is useful

>> No.15492604

>>15492561
freight brokerage

>> No.15492610

>>15492593
i probably should have gotten into welding versus commercial electricity

>> No.15492643

>>15492610
If you can get into a sparky union you can probably make it. Better yet, learn all you can and eventually start your own electrician business. I’m hilariously overspecialized in a very niche stem thing so I kind of envy you

>> No.15492653
File: 630 KB, 1772x1311, 40D184F4-9141-44EA-8D6E-ECE2ABD047DA.jpg [View same] [iqdb] [saucenao] [google]
15492653

>>15492561
Educate yourself. NOT in a University though. Figure out your passion and if possible work at a career there. Do not give too many fucks about money at your age. Unless your the next Steve Jobs it’s not going to happen at your age. Get experience/ educated. Start seriously financial plan around 30 years old. I would recommend watching David Stockman, Marc Faber, Jim Rogers, Jim Grant, and Peter Schiff. Good luck it’s a lot harder for you than it was me in 1990

>> No.15492663

>>15492591
Don’t listen to Somali proudy boys like these. DO YOUR OWN RESEARCH! And research hard as a pipe hitting mofo

>> No.15492740

>>15492561
Study forex so we can have a fx general

>> No.15492823

Put the cash in a credit Union, then borrow 10k
with the 5k as collateral. Buy physical silver with
it...

>> No.15492865

>>15492561
Buy 5k worth of bitcoin, go on binance, get a x1.2 leverage on your 5k, cash out in 5 years.

>> No.15493036

>>15492823
A sound plan if you can push away the fear and accompanying stress in your mind of something going wrong.