[ 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: 1.89 MB, 236x224, wot.gif [View same] [iqdb] [saucenao] [google]
378379 No.378379 [Reply] [Original]

sup /jew/, i'm looking to learn how to make money with my extra cash. I've got my house paid off and earning quite a bit of money, so i'd like to start using that money to earn more money.

Any books/sites/etc recommended for a total pleb, i`m not willing to start throwing money at random shit without knowing exactly what i`m doing? You guys should really have this sort of stuff in your sticky.

>> No.378393

>>378379
>You guys should really have this sort of stuff in your sticky.

You should really shut the fuck up and leave.

>> No.378396

>>378379

/biz/ is still new. We haven't established a solid sticky, although there have been plenty of topics created along the lines of "What should we include in the sticky?"

I would personally suggest reading The Millionaire Next Door as a foundation, it's a great book about being frugal and accumulating wealth.

Since you already have wealth accumulated though, you might want to look into The Intelligent Investor. I have not read the book yet, it's on my summer reading list, but the book is Warren Buffet's favorite book, and /biz/ generally recommends it to everyone.

To make money investing, you need to have money first. If you invest $100 and receive a 10% ROI (which is good), you'll receive $10 in profit. But, if you have $1,000,000, and you receive a 10% ROI, you'll receive $100,000 in profit. There's a huge difference between $10 and $100,000.

Because of this, I've never fiddled with investing. I run a few small businesses, so I invest my extra money in there. I can turn $1000 into $2000 with a little work. But, I have to do work in my businesses, I can't just leave the money sit there and accumulate a return like a very wealthy person can.

Anyway hope this helps. And we're not /jew/s, we prefer /biz/raeli

>> No.378397

>>378393

Don't be a fucking faggot, there have been talks of setting up a decent sticky for some time now.

>> No.378401

>>378397
no, fuck off. take your complacency and lazy ass back to reddit where you belong.

>> No.378407

>>378393
>>378401
You're mean.

>>378396
Thanks for the great reply, gonna start reading The Intelligent Investor, everything i`m reading about it sounds great.

What I`m nervous about with investing isn't really where/what to invest in, it's more about how risky the whole thing is. I have about AU $70k just sitting around, and i`m not in a situation where i NEED to start doing something with it, but i feel like the longer i have it there the more likely i am to do something stupid with it. Any tips on something really basic to start on?

>> No.378409

>>378401

>dat ad hominem

>> No.378412

>>378407

Putting it in a blue chip stock that gives dividends wouldn't be a terrible place to start. Banks are shitty places to store money because they don't give you enough interest to outpace inflation.

>> No.378414

>>378407

There are finance/investor people on here who can give information much better than I can, so I won't even try. Like I said, I choose to invest in myself because I run several small businesses and I can make better money investing in the services I provide, rather than a company.

There are different investment options with different levels of risk.If you're risk adverse, then make sure to diversify your portfolio. Don't put all your eggs in one basket. Invest a little here, a little there. Also look into risk adverse investment options, for example hedge funds. These are pooled investments that aim for a high return with minimized risk.

>> No.378419

>>378414
>>378412
You guys are great. Reckon i can pick up more bits of gold like this lurking /biz/ or is my time better spent reading books on the subject?

On >>378412, am i better off dumping a large amount into a good blue chip or is there a better way to utilize the benefits?

>> No.378420

>>378396
not OP, but gonna read these books in my free time, how legit are they?

>> No.378424

>>378420
OP here. Just bought the paperback for The Intelligent Investor and the reviews on it are great.

>> No.378429

>>378379

I should sticky my dick up your ass, homo

>> No.378431

>>378429
There's nothing wrong with that. I might enjoy it.

>> No.378443
File: 26 KB, 604x453, Wow (5).jpg [View same] [iqdb] [saucenao] [google]
378443

>>378420

The Millionaire Next Door is a must-read. It's makes excellent use of analogy to prove it's point. The title itself implies that, average people with average careers, can follow certain rules to accumulate wealth and have a seven figure net equity during their lifetimes. This provides financial security and peace of mind, which A LOT of people don't have. It isn't a "get rich quick" scheme to try and sway you to buy into, the book openly admits it takes years to build equity. It's a great foundational book for those looking to escape the 'living paycheck to paycheck' paradigm.

The Intelligent Investor, again I have not read, but I will re-iterate that it is Warren Buffet's favorite book, and /biz/ praises it to high acclaim.

>> No.379023

Do you guys there any essential references on personal finance? Any introductions?