Poorfag here >have $500-$1000 to invest >dont know where to start >dont want to live on it, just want to add to my income >tfw turning to 4chan Inb4: poorfag, not enough $, did you college bro?

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Anonymous Thu Mar 12 03:24:33 2015 No.682582 [Reply] [Original]

Poorfag here
>have $500-$1000 to invest
>dont know where to start
>dont want to live on it, just want to add to my income
>tfw turning to 4chan

Inb4: poorfag, not enough $, did you college bro?

>>	Anonymous Thu Mar 12 03:27:32 2015 No.682584 VOO

>>	Anonymous Thu Mar 12 03:28:38 2015 No.682585 >>682582 Oil is eventually going to go back up. The question is when.

>>	Anonymous Thu Mar 12 03:32:20 2015 No.682589 >>682585 I guess the question im asking also is where ti do this? Do i run into a gas station i like, give the cashier $500 and say gimmie some stock? J/k. But where?

>>	Anonymous Thu Mar 12 03:37:15 2015 No.682596 Invest in P2P lending. $1000 is too little to invest in the stock market or bonds, so P2P lending is perfect. Just make sure to diversify into stocks and bonds once you've saved up a bit more money.

>>	Anonymous Thu Mar 12 03:39:48 2015 No.682599 >>682585 Realistically? In a few years once Saudi Arabia and OPEC have destroyed the viability of shale oil.

>>	Anonymous Thu Mar 12 03:41:54 2015 No.682602 >>682589 Brokerage acount, which is a bit like a bank account

>>	Anonymous Thu Mar 12 03:45:41 2015 No.682607 File: 143 KB, 395x408, 1424569928794.gif [View same] [iqdb] [saucenao] [google] >>682596 Thanks >>682602 Thanks

>>	Anonymous Thu Mar 12 03:48:20 2015 No.682609 >>682596 He likely doesn't meet the net worth/income requirements for P2P lending.

>>	Anonymous Thu Mar 12 03:51:27 2015 No.682612 >>682609 My income is between $3000-$3600 a month

>>	Anonymous Thu Mar 12 03:53:03 2015 No.682614 >>682612 Yeah, that's not enough.

>>	Anonymous Thu Mar 12 03:59:25 2015 No.682620 >>682614 Brutal. What about etrade and all that? Someone suggested they would be a good jumping off point. Into water or cement?

>>	Anonymous Thu Mar 12 04:29:48 2015 No.682652 >>682620 Man, Why can't people just put money into a high interest saving account theses days? Its what i do, sometimes.

>>	Anonymous Thu Mar 12 04:32:18 2015 No.682654 >>682612 Why do you only have $500 invest if you earn over $3000 in one month? List the (stupid) things that you bought recently. I need a good laugh

>>	Anonymous Thu Mar 12 04:37:40 2015 No.682658 >>682654 -ur mom -ur mom on kitchen table -ur mom in ur room -ur mom in her car -ur mom in my car -ur mom on the hood of car -ur mom in kitchen -ur mom in anus

Anonymous Thu Mar 12 04:39:32 2015 No.682662

>>682654
Bought?
>rent
>utilities
>2 car payments
>health insurance
>groceries
>child care
These things hapoen on a regular basis when you move out of your parents house and stop leaching.
I have up to $1000, just dont want to risk more before i know what im getting into

>>	Anonymous Thu Mar 12 04:40:20 2015 No.682663 >>682658 My mom doesn't sell herself, but she's a merchant

>>	Anonymous Thu Mar 12 04:43:41 2015 No.682665 >>682662 How much for the car payments? Do you have cable tv, a phone contract for more than $50, the lateat iphone? I don't get how you could spend more than $2000. Fucking plebs

>>	Anonymous Thu Mar 12 04:47:06 2015 No.682666 >>682665 Dude. Rent alone is $1700. I like my family living in a decent neighborhood

>>	Anonymous Thu Mar 12 04:48:50 2015 No.682667 What part of " i dont wanna risk more than a grand" dont you get? Im not broke. Not struggling. Just want to invest a grand

>>	Anonymous Thu Mar 12 04:55:44 2015 No.682670 >>682667 It's your first time on /biz/, right? Brokerage fees, for buying/selling, some have a inactivity fee if you don't make a trade every 3 months. What do you expect with one thousand dollars invested? What's you goal?

>>	Anonymous Thu Mar 12 05:02:16 2015 No.682672 >>682670 Nothing major. If i could add $200 or $300 a month to the grand id be happy. Make enough to make a larger more profitable investment if i start understanding more. Is $200 even possible with a thousand?

>>	Anonymous Thu Mar 12 05:04:23 2015 No.682673 And yea, first time here. Figured this would work a little better than /b/

Anonymous Thu Mar 12 05:14:34 2015 No.682677

>>682672
$200 would be 20%. That should be possible in about 1-2 years if thete's no market correction. You also need to pay capital gain tax if you're selling (25% in my country - that would be $50 in this case).

Only invest what you can afford to lose. Always have a few months of living expenses in cash or on your bank account (for car repair, in case you get fired, ...)

>>	Anonymous Thu Mar 12 05:27:07 2015 No.682681 >>682677 Well, thats still not bad i guess. If i can at least grow the 1000 that would work

>>	Anonymous Thu Mar 12 07:22:53 2015 No.682708 Get $100 of bitcoin. If you post an address in this thread I'll sent you $1 to help you get started. Don't just listen to the people that deride me for suggesting it, look up how it works and decide for yourself.

>>	Anonymous Thu Mar 12 07:28:49 2015 No.682712 >>682582 You're a poorfag. That's not enough money. Did you even go to college, bro?

>>	Anonymous Thu Mar 12 08:07:00 2015 No.682722 >>682582 That's legitimately not enough money, you would be better served by putting that towards an emergency fund.

>>	Anonymous Thu Mar 12 11:34:44 2015 No.682830 File: 52 KB, 447x286, 3826564889.png [View same] [iqdb] [saucenao] [google] >>682666 >Rent >1700 I don't have a picture to express the outrage this spurs in me. Holy shit.

>>	Anonymous Thu Mar 12 11:37:24 2015 No.682832 >>682582 >-ur mom >-ur mom on kitchen table >-ur mom in ur room >-ur mom in her car >-ur mom in my car >-ur mom on the hood of car >-ur mom in kitchen >-ur mom in anus invest in cryptocurrencies

>>	Anonymous Thu Mar 12 11:37:31 2015 No.682833 >>682582 http://www.reddit.com/r/Flipping/ Investing rarely pays off when you need it to. Its easier to slowly see positive retuns

>>	Anonymous Thu Mar 12 11:38:15 2015 No.682835 >>682652 >0.7% APY if youre lucky >7 dollars in an entire year. Shit man, youd be better off just selling bottles on the street or something.

Anonymous Thu Mar 12 11:42:15 2015 No.682837
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>>682835
Seriously

There is nothing high interest about a fuckin' 0.7% APY.

>>682582
OP, go get a brokerage account.

Lurke around here.
Or go do some research on Oil's current woes, and pay close attention to the amount of crude produced by america within say, a couple days, versus the amount we had sitting around in storage collecting dust.

Then find a decently inexpensive stock RELATED to the oil industry, Leveraged, or un leveraged, that's say. Sub 75%.

And everything else should fall into place. Just try to get in when it's at it's lowest. Or a low you're comfortable in.

And realize that even then, it may fall another 30-50% per stock before climbing back up. But know it'll climb back up, and you've a profit to be made on the long. (Holding for several months)

>>	Anonymous Thu Mar 12 12:11:16 2015 No.682859 >>682681 Dude, let me give you a dollar worth of bitcoin, no strings whatsoever. >>682708

>>	Anonymous Thu Mar 12 12:14:43 2015 No.682863 >>682830 explain bro? i assume you will suggest buying a house... UK fag here and in this country the prices are comically high and mortgages require a ridiculous and i mean fucking ridiculous initial deposit ...

>>	Anonymous Thu Mar 12 12:17:51 2015 No.682864 >>682662 >you have kids I hate to say it OP, but at this point it's too late for you to make it. Don't waste money on /biz/ troll suggestions, save for your kids college and hope they make it further than you did.

>>	Anonymous Thu Mar 12 12:39:15 2015 No.682874 >>682864 >save for your kids college fund Yea, and what form should the savings be in? You didn't help at all. Also, college education is in a bubble, vocational schools are a way better choice.

>>	Anonymous Thu Mar 12 12:43:41 2015 No.682882 >>682582 Buy $1,000 worth of stuff and sell it for $2,000. Rinse and repeat until you have a meaningful amount to invest.

>>	Anonymous Thu Mar 12 13:34:50 2015 No.682928 >>682886 If you want to turn that 1k into 10k, I'd recommend buying shares of this stock. You can look at the recent trend this past 1 and half month, and price target was upped today to 10 from 6

Anonymous Thu Mar 12 14:08:15 2015 No.682983

>>682863
I would not worry about that guy's statement. Buying property without the intention to rent it out for $$$ is not a good idea in the current market. Renting is the way to go. There are good calculators that can show you if buying a house is going to be more cost effective long term versus renting. Chances are renting is cheaper for your situation anyway.

Anonymous Thu Mar 12 14:17:09 2015 No.682998
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Could buying a little silver at these some what low prices or waiting till about $12-14/oz and longing be a wise option? I've been keeping an eye on silver myself but not sure if OP should try it.

>>	Anonymous Thu Mar 12 20:34:15 2015 No.683412 >>682612 >$3000-3600 a month >$500-1000 to invest How long have you been saving up that ball of cash? If your answer is longer a single paycheck you need to save more.

Anonymous Thu Mar 12 21:15:17 2015 No.683449

>>682662
>>682830

>Having a wife that doesn't work
>Having 2 cars out on payment on 3.5k income
>1.7k month apartment

You're fucked in savings m8. Half your income goes to the apartment and a third of what's left over goes to the car. You need a reality check and start living within your means. You should have a lot more than 1k saved to invest

>>	Anonymous Thu Mar 12 21:20:28 2015 No.683459 >>682662 fuck man how do some people end up so fucking blue pilled? Schlomo played you hard son.

>>	CaeX !!1YCo25d3NT+ Thu Mar 12 21:33:26 2015 No.683471 >>682837 Ally Bank 0.99% APY

>>	Anonymous Fri Mar 13 01:33:35 2015 No.683713 Bumping this. Kinda in the same position as OP. I pretty much attend college on scholarships alone so my money just sits in the bank. I have $3k right now and will probably add another few thousand this summer. I want to get a better return on it.

>>	Anonymous Fri Mar 13 01:36:16 2015 No.683717 >>682582 Save till you hit 3k, then find a bank that's weight for you and put it in amtl fund, or 401 if your job offers it.

>>	Anonymous Fri Mar 13 01:37:31 2015 No.683719 >>683717 Right* not weight. Also I like vanguard.they be a good place to keep yer moneys

>>	Anonymous Fri Mar 13 01:49:11 2015 No.683730 >>682609 There is no net worth requirement as long as you only lend 2500 or less.

Anonymous Fri Mar 13 03:44:38 2015 No.683798
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OP here... Wow.
Thanks for all the advice, everybody who actually tried to help. Gonna try to clear a few things up, kay?
>live in a house, not a apartment.
>wife works, thats why we pay for child care
>didnt have to save up for the grand, pulled out of savings
>called self poorfag because i figured they would be alot of people alot better off than i am on this board
>not struggling at all with finances
>a kid dosent mean i lost at life, i get pussy. Try it.
>did college, boring. Vo-tech is where its at
>tfw my life is chill as fuck and just wanted to suppliment for extra money. Kids college, savings, fucking gigantic pile of whatever.
Thanks again to all that gave advice. Going to think now about my opitions

>>	Anonymous Fri Mar 13 04:34:59 2015 No.683806 Put it all in NBG and wait for a bailout

>>	Anonymous Fri Mar 13 04:39:06 2015 No.683809 >>683806 >>683806 Oops didn't read thread- never mind

Purple Acid Fri Mar 13 05:06:48 2015 No.683821
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Invest $500 in books and invest the other $500 in income protection insurance.
If you saved more, invest your first $10,000 in books.
You will not believe how much money you will make our of this investment.

Anonymous Fri Mar 13 11:11:22 2015 No.684053
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>>683798
Your options are pretty much this:
1) Stop paying 3/4 of your income on fixed expenses. This WILL require downsizing your home and probably your cars at a minimum. You aren't living within your means right now. You should be saving 25% of your after-tax income, minimum. Find some guides on how much you should spend on a home and the like and go from that. If you're not over 50 you can probably still salvage your financial situation, invest your savings, and scrape together something resembling a retirement in your late 60s or 70s.
2) Continue down your current path enjoying your spendy lifestyle until you lose your job, find yourself buried by a sudden medical expense, or simply get so old enough that working isn't possible anymore. Your life will become a miserable shithole and you will lose just about everything you hold dearly, but until then everything will be great just like it is now.

>>	Anonymous Fri Mar 13 13:30:17 2015 No.684181 >>682708 I guess there is no harm in trying. 15W5SVxJ7kLkeQZ5cJLS6nbtYChWac5HZN I would greatly appreciate it

>>	Anonymous Fri Mar 13 13:40:02 2015 No.684197 >>684053 Do you not read bro>>683798

Anonymous Sat Mar 14 00:09:37 2015 No.684735

>>682612
>$3k a month income
>only has $1k to invest
What in the fuck are you doing?

>>682666
$1700!? Where do you live!? In a fucking penthouse!?

>>682830
Agreed.

Look, I know you asked for investment advice, but you won't get a better return on $1k than 5-25% a year ($1050-$1250) unless you are a lucky fucker or you are a genius.

If you saved $300 a month instead, you would have $3600 by the end of the first year. To beat that figure you would have to make more than a 360% gain.

You could literally make that by renting a $1400 a month house and changing nothing else.

Seriously, you need to sign up for a Mint account or something. You can't budget worth shit.

>>	Anonymous Sat Mar 14 00:17:11 2015 No.684745 >>682596 what is p2p lending

Anonymous Sat Mar 14 00:39:10 2015 No.684766

>>684735
Why the fuck does everyone think im fucking broke and had to save up to get 1000? I JUST WANTED TO SEE WHAT A GRAND COULD DO. PLENTY IN SAVINGS. PLENTY IN CHEAKING PLUS A. FEW BILLS. MY WIFE PULLS ALMOST THE SAME SO WE GOT A SWEET HOUSE FOR OUR FAMILY. THE FUCK MAN

Anonymous Sat Mar 14 01:40:28 2015 No.684810
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>>684766
Don't get all butt-hurt if we make assumptions.

We are only going on what you told us, and this is 4chan, most anons can't manage their money worth shit.

>>	Anonymous Sat Mar 14 01:44:07 2015 No.684814 >>684766 You can't invest $1000 reasonably. Your returns will be so small that they aren't worth the transaction costs. How much money DO you have saved up?

>>	Anonymous Sat Mar 14 07:23:13 2015 No.684988 >>684766 Wasn't your wife an unemployed leach or am I thinking of another thread?

Anonymous Sat Mar 14 08:19:35 2015 No.685016

>>684766
1700 a month in rent is fucking enormous bro. You said you made roughly 3500 a month and we can guess at what your other monthly expenses can be with the cars and childcare.

You won't go bankrupt tomorrow but read some actual posts in the thread talking about the potential catastrophe waiting for you.

Have you ever thought about these scenarios and what they'd mean if they happened?
1.you or your wife lose your job and cannot replace it in 6 months
2.you or anyone in your family suffers a serious medical emergency costing tens of thousands of dollars.
3.car gets wrecked or breaks down requiring a lot of money to repair.

Those are the big ones. How much in savings do you have for these emergencies. The point is your current spending is not sustainable for a stiff breeze by how it sounds. You should have a lot more than 1000 dollars to invest.

>>	Anonymous Sat Mar 14 08:43:30 2015 No.685022 >>685016 Give up man, OP is completely unwilling to listen to sound advice.

>>	Anonymous Sat Mar 14 16:02:08 2015 No.685342 Well might as well spend the whole 1000 on penny stocks and become a day trader. ..OP please dont actually do that.

Anonymous Sun Mar 15 03:51:14 2015 No.686076
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>>684810
You are right, im sorry.
So many a nons have gave good, informative advice.
>>684814 its close to 30grand, just wanted to know if a grand could do anything
>>684988
Nope, reading an anons response. Not mine (OP)
>>685016
1. Paid alot into savings
2.we all have insurance
3.we have insurance + drivetrain warranties up to 100,000 miles.
Just wanted to see what a grand could do.
>>685022
I am willing to listen. To many assumptions. Anons not reading thread
>>685342
Day trader you say? Elaborate?

>>	Anonymous Sun Mar 15 07:43:00 2015 No.686130 >>686076 Bitcoin or gambling would be your chance at making anything with that amount of money.

>>	Anonymous Sun Mar 15 07:58:37 2015 No.686140 >>684766 >>684766 Try to get cheaper housing- I lived in a decent spot in Hawaii for less

Anonymous Sun Mar 15 08:00:38 2015 No.686141

>>686076
You shouldn't just set 1k down and expect it to turn into anything in any amount of time. The trick is to continually invest 1k on a regular basis. Some things safer like index funds that many people mention will over time grow a great deal more than interest in a savings account.

In 20-30 years of putting in 1k a month you should end up with a million dollars or so. You can easily retire on that

>>	Anonymous Sun Mar 15 09:02:16 2015 No.686163 >>682882 what stuff?? any example

>>	Anonymous Sun Mar 15 10:37:49 2015 No.686207 >>686141 lol is that really all it takes? Why does everyone say saving for retirement is that difficult?

Anonymous Sun Mar 15 10:56:28 2015 No.686218

>>686207
Because for some people delaying even a little bit of gratification, especially on a continuing basis, is really really hard. It's the same reason so many people are fat: They just can't be arsed to eat a normal diet and get a normal amount of exercise.

If you train yourself to save reflexively then retirement is easier than pissing.

>>	Anonymous Sun Mar 15 15:53:26 2015 No.686501 >>686141 Shouldn't you diversify a bit more than that? I agree that $1k a month is a good base but putting all your eggs in one basket seems risky.

>>	Vroom Vroom Mon Mar 16 13:53:42 2015 No.687646 >>682582 Get to lending club.com, you can get started with just $25, invest $25 at a time.

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/biz/ - Business & Finance