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/biz/ - Business & Finance

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16815056 No.16815056 [Reply] [Original]

Long story short I'm a poorfag from a rich family. I am outcasted but my son is the jewel of the family. He is constantly receiving hundreds or thousands of dollars in checks from my family for things like birthdays, XMAS, etc. He is currently 6. I know the shit he wants right now is almost pointless. I want to keep a small amount so he can still buy shit and enjoy his childhood. I am thinking about letting him keep 15% of his "earnings" and putting 85% in something. Thing is, I don't know what. Mutual fund? ETF? I'm a poorfag for a reason, I'm an idiot. But I want whats best for my son. What would you do? BTW I keep zero $ that is put in is name.

>> No.16815074

>>16815056
Chainlink, go read the whitepaper

>> No.16815362

>>16815056
kill him, take the money and make a new son..

>> No.16815371

>>16815362
Lel

>> No.16815470

>>16815056
Vanguard mutual fund. Spread across the top 200 companies. Look on the vanguard website, free advice too and dont need any finaical advisors. Literally retard proof, since hes so young you can possibly select a growth type fund (medium risk) and as he gets a bit older over 30 and has well established savings he can switch to a more conservative compounding interest fund (usually 4-6% PA).

>> No.16815478

>>16815056
Blow your writing prompt out of your ass and buy link, you nigger

>> No.16815529

buy your kid 2,000 link.

he will be the richest person in the family in no time.

>> No.16815538

You realize when he's 18 (or even younger), he's going to want his money. There's a scene just like this in the Royal Tenenbaums

>> No.16815554

Tell more about why you're an outcast and how rich is your family. Hundreds of thousands of dollars for Christmas? For a 6 year old?? I honestly can't understand

>> No.16815560

Oh and this
>>16815470

>> No.16815890

>>16815555

>> No.16816366

>>16815056
>I'm a poorfag for a reason, I'm an idiot. But I want whats best for my son.
Respect
>What would you do?
Put it all in ETH, unironically

>> No.16816410

>>16815056
put it in BTC, ETH, BNB

>> No.16816458

>>16815554
hundreds OR thousands retard

>> No.16816690
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16816690

>>16815470
this is literally the only comment worth a shit in here. Don't ever put money on memecoins. That is not an investment it's a gamble.

>> No.16816740

>>16815056
Talk to a financial advisor.

>> No.16816960

>>16816740
you know what, I'll give it a whirl.

You mentioned you wanted an investment for your son but you believe you're an idiot so you want to protect the investment from your own decisions. Sounds moderate conservative to me.

With a looming recession on the horizon you're going to want defensive securities, consumer staples, precious metals, bonds, and largecaps that can survive a recession but still provide market returns in the event that it doesn't happen. Tossing in a defense ETF for that sweet sweet Iranian blood money.

VUIAX - Vanguard Utilities Index Fund
VCSAX - Vanguard Consumer Staples Fund
GLD - SPDR Gold Shares
LQD - iShares iBoxx Investment Grade Corporate Bond ETF
IEF - iShares Barclays 7-10 Year Trasry Bnd
TPLGX - T. Rowe Price Instl Large Cap Core Gr Fd
SCHG - Schwab US Large-Cap Growth ETF
ITA - iShares Dow Jones US Aerospace & Def.ETF

>> No.16816978

>>16815056
Buy physical gold and silver and gold until at least 2021

Also classic books

>> No.16817039

>>16815056
GET A ROTH IRA FOR YOUR SON!