When should you start investing

armaadi · 2017-06-08T16:23:02+00:00

Soon as you can get a solid, stable job. When you hit 18, you could probably open an Australian equivalent of a US IRA account, and while you are working temp jobs, start saving in that. When you get to a larger company that has company match to an equivalent of a 401k, then start doing that.

Basically, start as soon as you can. Since you are 14 and most likely not where you can have a full time job, use a savings account.

riotupfront · 2017-06-08T17:11:05+00:00

At that young of an age, the best thing to invest in is yourself. Spend your time/money ensuring that you can learn some type of skill or trade where you can make around 6 figures into your 30's. Once you've achieved this is when I would start seriously investing. If you like reading, the book "rich dad, poor dad" does a good job of explaining this. In short, always pay yourself first before you put money into anything else.

hackableyou · 2017-06-08T16:13:52+00:00

It more depends on how much money you have than your age. Probably not the best idea to invest if you only have $50, as the transaction costs will eat any possible gains and then some. If you have a sizable amount of money, you can invest online, sure. Please be wise about what you invest it in, as you don't want to lose your money. Do research.

gods_bones · 2017-06-08T17:16:59+00:00

If you invest in your teens, you will become very rich and can retire early, but you have to be smart.

Warren Buffett said that his biggest regret in life was not investing earlier. I believe he started his first investment when he was 11.

But if you're going to invest you NEED to know what to put it into because there are many scams out there. Honestly, I would just suggest at this age, put your money in a bank account that offers you an interest rate that is above the nominal interest rate in order to help you beat inflation.

hackableyou · 2017-06-08T19:14:05+00:00

I would definitely advise saving that over buying clothes. #1 it gets you in the habit of saving money when you have an urge to buy something else you want, something many people never master, and #2 every amount of money can help.

I would advise saving that money in the bank until you gather more money.

a17c81a3 · 2017-06-08T19:38:56+00:00

As soon as you can with as much as you can spare.

Make sure to invest in different things.

Some ideas:

Crypto currency (Dash recommended personally)
Property/land you can rent out
Stocks - index funds such as "SPDR - XBI" and "NYSEARCA: VOO" are easy.
Silver/gold for disaster scenarios

Investments grow exponentially so getting started early means retiring young potentially.

Avoid:

Taxes
Pensions.
Bonds.
Savings accounts.
Bank/financial stocks.

Every cent you put in those is going to disappear.

dirtydog113 · 2017-06-08T19:45:12+00:00

44 yr old father of two sons , 21 and 15 , in Australia here. Usually bank accounts for students come with zero fees.Check your banks and see what the go is for it. Also , try to only use your banks ATM if you need some cash ,and make one withdrawal only if you get slugged by a different ATM , the old $2 to access your money trick. If you want books , pirate them online or order free from the library , there are heaps of ways to save and keep building to invest when you reach 18 .If you have an adult you trust , parents for example , and are tech savvy , look into crypto currency or smaller penny stocks they can invest into for you. Ethereum is still around $260 US at the moment , Lithium is a good investment with smaller players shares around 1-5 cents to buy and have a long term hold.Think long term , say ten years and keep accumulating along the way if you can.Any money made later is subject to capital gains tax , but is less if the shares are held for more than 12 months like any investment.See if you can open up your own share account on internet banking, The ASX has a share trading game you can play to see how well you go. Dont waste money on items that decrease in value the second you buy them.Keeping up with fashions is stupid.You can buy good shirts etc cheap from Target , Kmart, Big W , etc.If you are looking at MGTOW , who cares what other people think about you, especially clothes etc.Second hand stores are a good place as well ,Good sammys , Vinnies etc. Birthdays , ask for cash and bank it, ask for someone to buy you shares in a company you have researched.Think off the future,Lithium ,Cobalt , graphite all go in lithium batteries for electric cars and solar panels , rare earths .Invest in gold as you can take it anywhere.Small baby steps will get you there.Ask for a metal detector for Xmas ,hit the beach in popular areas , parks ,anywhere there might be 1 and 2 dollar coins. Read , learn , google , suck in knowledge on how to make small first time smart investments etc.there is never a too early to start.

0rsus · 2017-06-08T18:47:56+00:00

Now.

I'm busy ATM but I'll messsage you with the rundown sometime later today.

gundahir · 2017-06-08T19:04:20+00:00

if you are broke like most 14 year olds then save up your money and use it to buy books. books about investing, health, fitness etc. by the time you get your first real job / income you will have a great base of knowledge to build on.

WhistlingAlong · 2017-06-08T19:09:10+00:00

When you can feel that spending x money will not upset you. I'm 33 and just bought Etherum so look can look into that. Just need a coinbase account.

phathack · 2017-06-08T23:10:54+00:00

I was 18 when I opened my first investment account. This was before online trading so I had to go into the brokers office to make a trade.

cheesymold · 2017-06-09T03:38:08+00:00

Buy bitcoin asap.

Squidhunter88 · 2017-06-09T03:46:47+00:00

Start buying gold sovereigns(coin) and half sovereigns (whenever you can afford it)and put them away for a rainy day. Sovereign 8g 22k gold/ approx $400 aud Buying stocks complicates your tax returns and you need more money. Goodon you for starting your endevour that is the most important thing at your age.

dsm2k1 · 2017-06-09T06:41:44+00:00

Mate i am 15 right now and i am trying to get into the stock market and invest in something safe, heck i even have a pay pal account.

Title	When should you start investing
Author	BoredAndSuicidal
Upvotes	9
Comments	19
Date	June 8, 2017 4:07 PM UTC (9 years ago)
Subreddit	Posted in /r/MGTOW
Original Link	https://old.reddit.com/r/MGTOW/comments/6g1vwp/when_should_you_start_investing/
Archive Link	https://theredarchive.com/r/MGTOW/when-should-you-start-investing.582597 https://theredarchive.com/post/582597

Comments