/biz/ - Business & Finance

[Anonymous No.56742615]

what things should i know before opening a bank account
t. 18 years old zoomer w no social smart

[Anonymous No.56742622]

>>56742615
why did those faggots spend 6 years or whatever making a shitty spinoff prequel instead of making a new ip

[Anonymous No.56742627]

>>56742615
Fuck banks. Open a brokerage account and set up direct deposit to that.
Open a ROTH IRA and max out your contributions, put them into a t bill ladder (or just buy BILL) and rotate into SPY shares and ATM SPY LEAP calls in March.

[Anonymous No.56742644]

>>56742622
its all good man
>>56742627
where do i learn about these terms

[Anonymous No.56742650]

>>56742615
Banks exist to make money, and will use whatever funds you give them to do so. Credit unions alternatively offer less services overall but exist solely for member benefit, not shareholders. They'll give you better rates and are inherently safer places to park money.
Also Look up the term 'Fiduciary duty'

[Anonymous No.56742666]

>>56742644
https://www.investopedia.com/
If you ever have questions ask this site or an actual financial planner, not /biz/, the board is infested with scammers and degenerate gamblers.

[Anonymous No.56742935]

>>56742650
almost everyone i know has a bank account ONLY. brutal.
>>56742666
thanks. whats the purpose of this board if its only scammers and gamblers

[Anonymous No.56742952]

>>56742650
>Credit unions
This guy gets it.

[Anonymous No.56742987]

>>56742644
do not start fucking with call options the anon you replied to is a fucking dumbass

you're 18 years old, you cant even wrap your head around how much compounded interest potential you have if you even put $100 and let it sit for 40 years. Just make out your Roth IRA (or put as much as you can in it each year) and play it safe just making a 3 fund portfolio. Do not touch it until you're 65, you can afford to do a super simple 3 fund portfolio - nothing complicated - because you have time on your side. If you want to try doing options or riskier trading just make a separate robinhood account to play with but again, if you can consistently get close to maxing out your Roth every year starting from 18 years old you are basically set for retirement.

[Anonymous No.56743095]

>>56742935
>what's the purpose of this board if its only scammers and gamblers
The board was originally made to remove all the crypto project spam from /g/ way back in the day. Its kind of festered and rotted since then. You might find diamonds in the rough, but for the most part anyone advertising their positions on this site is doing so for their own perceived benefit.

[Anonymous No.56744196]

>>56742615
>26yo
>never opened a bank account
I put my all my money in digital wallets or crypto, I mean, in the latter I have VINU protecting my ass against fees teehee

[Anonymous No.56744261]

Just go walk in to a credit union in your area and tell them you want to open a checking and savings account. Ask if they have any interest-bearing savings accounts. If you have a good amount of cash you don’t need right now you can also open a CD which locks up the money for a period of time but currently pays good interest.
No much else you need to know. A credit union is just like a bank but better in every way, and if you ever want a car loan they’ll have the best deals because that’s what they specialize in.

[Anonymous No.56744492]

dude weed lmao

[Anonymous No.56744760]

>>56742987
>>56743095
>>56744261
thanks for the insights anons. ima be a regular here

[Anonymous No.56746553]

>>56742666
satanic advice. a financial planner will tell you to invest in stocks, which you should do with just a small piece of your portfolio. stock precious metals, ammo, cryptos and buy real estate with your friends.

[Anonymous No.56747675]

>>56746553
What if you have no frens to invest with?