[ 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: 65 KB, 497x470, 3a4ce1f3a6473f52b46b243f913b723a1419465336_full.jpg [View same] [iqdb] [saucenao] [google]
899082 No.899082 [Reply] [Original]

I am 18 and still in highschool. I am pretty much completely oblivious when it comes to finance and business, but I still have common sense (basic understanding of stocks, interest, and not blowing all your money on stupid shit.) I have a decent amount of money at my disposal (about $5000), and I feel like I should start making money and possibly investing. What would you do in my position /biz/? It might also be worth it to note I have a shitton of time on my hands.

>> No.899113

Sounds like you're smarter than 90% of your peers. So...

Open a credit card, buy stuff over the course of a year and use $1000 to pay that off. A year from now, you will have decent credit and a higher limit card to use as a backup plan in case SHTF. Don't buy unnecessary shit with it. Just use it to buy stuff you normally would buy.

Take $3000 and buy either Chevron, Royal Dutch Shell, or ExxonMobil stock at the current %30 discounted prices. There is almost no risk in this play and you are nearly guaranteed $1000 return in a year or so. That will give you $4000 in your brokerage account a year from now. Plus, owning stocks lends itself to learning more about investments. Once you have a stake in the game, you are going to want to know everything about it and will fast track your learning process.

Take the remaining $1000, put it in the bank as a cash buffer and get a job. Regardless of whether you are going to college or not. Get a job.

And whatever you do, ignore the idiot ITT who will inevitably tell you to buy $5k of index funds.

Good luck, anon.

>> No.899117

>>899082
buy $5k of index funds, anon. Literally the only way to make money with so little.

>> No.899124

>>899117
Epic troll m8

>> No.899133
File: 1.29 MB, 413x192, 1426091326163.gif [View same] [iqdb] [saucenao] [google]
899133

>>899113
>you are guaranteed $1000 return in a year

>> No.899171
File: 45 KB, 652x237, Screen-Shot-2015-08-26-at-09.11.33.jpg [View same] [iqdb] [saucenao] [google]
899171

>>899133
Good, good. Keep selling oil into our shorts, goyim

>> No.899172

>>899113
Just buy a 5k index fund

>> No.899191
File: 5 KB, 250x140, 1417504756836s.jpg [View same] [iqdb] [saucenao] [google]
899191

>>899082
>but I still have common sense (basic understanding of stocks, interest, and not blowing all your money on stupid shit.


There you go. That's basically all it takes. You're ahead of 90% of al mankind. Congrats, anon. Enjoy your life.

>> No.899192

>>899082
>>899113
He might as well take that 3k and put it in UGAZ.
3x leveraged increase for natural gas, and natural gas is at a very low point right now just like oil. The only difference is that natural gas production is actually slowing down, while consumption remains constant.
OR
OP should put his money into covered calls, it's a very safe and profitable way to make money off of a stock. Investing in the stock market safetly requires a large amount of background research before you start to invest, learn the lingo and if you use a Robbinhood to make sure to get an L2 service.

>> No.899209
File: 84 KB, 551x600, image.jpg [View same] [iqdb] [saucenao] [google]
899209

I'm in the same position I literally have 7k in my bank doing nothing while I'm in university. You're saying put it into oil right now or wait for it to bottom out early 2016? What do you think?

>> No.899217

>>899192
YOU CAN'T HOLD LEVERAGED ETFs LONGTERM

Is this some kind of /biz/ meme I'm not aware of, like delete system 32 or something? I see this shit all over this board

>> No.899574

>>899217
>Wants to make money
>Not holding leveraged ETFs long term

>> No.899923

Bump, in similar position to OP

>> No.900246

>>899082
Get your shitlord father to buy you a convertible Mustang 2016.

Spend 5k on bitches.

Fuck bitches.

Tell bitches to fuck other kids for $100 a pop, especially freshmen.

Be pimpdaddy0991 and give bitches 10% and your hot daddy dick.

>> No.900271

>>899113
Thats decent advice.

But if I were you I would take like half of that and start a small business.

Google things like AMazon FBA or subscription box services.

Despite what people will tell you there is still money to be made in these things - not a huge amount, but more than you could make at a job with no college education.

But still get a job or go to school. Even if your business fails and you're out $2500, you'll have vastly more knowledge about business than most college grads.

After you've saved up more money try again with something a more complex or technical business (i.e. barriers to entry).

The key is, if you fail once or twice, you will eventually make it - only if you work hard though.