How to start investing?

[Anonymous No.27893864]

I have $5k to use as starting capital. I can lose this money and only my pride will be injured.
What advice does this board have for me?
I have never posted here before.

[Anonymous No.27893924]

>>27893864
>What advice does this board have for me?

First things first, where is your money located? Do you have online banking capabilities? Do you have the ability to purchase stocks or crypto?

[Anonymous No.27894608]

>>27893864
Did OP fucking die or something

If you live in the US, my advice is to put your money with Fidelity. You can use Fidelity for all regular bank services like paying your bills, receiving direct deposits, interacting with ATMs, having a debit card for IRL or online purchases, etc... On top of the regular banking services, Fidelity also lets you open up retirement accounts (such as Roth IRA) and investing accounts. You can buy stocks straight from the same account that you do all your regular banking in, without having to shovel money around between a bunch of different apps / banks / brokerages. Fidelity also has zero stock trading fee.

They also have brick-and-mortar locations you can deposit your checks at, or if you just want to talk to someone to get a basic 101 on investing and their services.

Get your money into Fidelity, then from there you can choose what you want to invest in. If you want crypto, you can open a Coinbase account and link it directly to your Fidelity account. Move money from Fidelity into Coinbase and buy crypto. If you want stocks or mutual funds, just purchase them directly from your Fidelity account.

[Anonymous No.27894952]

>>27893864
> 0nly 5k

[Anonymous No.27895176]

>>27893924
The money is in my bank account.
I have never purchased any investment products on my own.
I passed the Series 7 about five years ago, but was not allowed to become a FA because of legal issues.
I have a business degree and am technologically literate.

[Anonymous No.27895241]

>>27894608
That is very helpful.
Thank you.

[Anonymous No.27895283]

>>27894952
5k is what I can piss into the wind without worrying.

[Anonymous No.27896459]

>>27895176
>I have never purchased any investment products on my own.

For people who have no idea what they are doing and haven't learned everything yet, I would say that you just put your money in an index fund. They follow the entire market and you'll make gains year after year, even with interruptions like the 2008 financial crisis and COVID happening. If your fund tanks because the national economy took a shit, don't sell it off at a loss, just wait and it will recover. Really, the only time the index fund will fuck you is if the US government collapses. At that point, your money is worthless anyways.

While your money is going up in the index fund, you can spend your time researching stocks and cryptos. Once you think you've got things figured out, you can sell your index funds and try betting your money on higher risk, higher reward investments.

You need to think very hard on your future as well. There is a future where your life is the same as your father, and his father, and his father's father. Things are stable and mostly prosperous, and you can make it just by investing in traditional things like stocks and funds. There is another future where the US dollar collapses, the electrical grid gets fucked, and the only people who make it are those that invested in useful skills and physical assets. Then there is everything in between.

[Anonymous No.27897008]

>>27896459
I think I have the societal collapse scenario pretty well covered. My kitchen knives are really good, and I will just eat my neighbors.

An index fund is a really good idea. Thank you.