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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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471411 No.471411[DELETED]  [Reply] [Original]

Alright /biz/ I think it's my time now.

I'm 22 and I'm in my last year to get my Mechanical Engineering degree and I am ready to get my head out of my ass. I'm sick of being poor and barely making rent, so I want to do whatever it takes to make money, real money.

So in my first post in this board (been lurking for about a week) I would like to begin with the following.

I plan on coming here to absorb as much information about everything I possibly can on being monetarly sucessful. Whether that be stocks business ideas anything you type chances are I'm going to be reading it. With that said we can go into my first post's question:
What other sites/boards/newschannels/magazines/newspapers/books...etc./sources should I be all over? Where do you go for things of this nature? Why do you go there? Pros cons of these sources?

>> No.471419

It doesn't matter what you read if you have no money. Make some money first.

>> No.471428

>>471419
Yeah I know that. But if I start reading up on things I can start learning about money and business so I can set some goals for what I'm saving up for. If I have no goals/plans/visions what am I going to do with money I save?

Yeah my goal is to not be broke, but that's way to broad of a goal. I need a target to aim for. That's why I'm asking.

>> No.471460

>>471428
Your target for now should be to get a decent job that pays enough that you can have some things you want while still having enough disposable income to invest. No point in being aware of financial markets if you don't even have any money to support yourself.

>> No.471462
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471462

Why not build an app for phone?

>> No.471470

>>471460
Let me put it this way... I have no clue about business or finances. I've never filed taxes, I don't know what a 401k is, I have no idea how to save money... I have no idea what its like in the real world.

I've never had a job working under someone, all the money I make is through DJ-ing or working small jobs for my dad or uncle.

I want to learn how to become successful.

>> No.471471

>>471470
id changed due to IP change

>> No.472540
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472540

bump for new viewers to give me insight

>> No.472997

>>472540
Investopedia motley fool and mint are all good sites to start absorbing some concepts

>> No.473148

Bump

I wannna learn too.

>> No.473166
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473166

>>472997
>motley fool
Shigged all my digs

>> No.473169

>>471470
A 401k is essentially a savings account that invests in stocks/bonds etc., set up by you and your employer. Deposits come directly out of your paycheck and therefore avoid being taxed. Some employers will also "match" some of the contributions you make, ex if you contribute 10% of your salary we'll contribute 5%. So if you're making 60k you'd get paychecks & pay taxes as if you were making 54k and 9k would go to your retirement savings. When you withdraw it later it's taxed as income but you're presumably making less income when you're retired so you'll be in a lower tax bracket.

>> No.473189

Mechanical engineering and no real job experience is quite the painful combination

>> No.473211

>>471419
this. money makes more money
save up 20-30k, better yet 50k, because with anything less you will struggle to make gains/ will have to take unnecesary risks.