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Ways that you can make ypur money work for you

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June 13, 2020
74 upvotes

Money saavy redpillers. What are ways you make your money work for you (make you more money) without spending much of your time and labor.

Just got a decent job after a rough long period of time and would like to start being smart with how I use my money.

How can I do this now that I don't have that much capital and how could I do this later in the future when I do have a lot?

Any advice coming from your experience?


Post Information
Title Ways that you can make ypur money work for you
Author sharpwolfangs
Upvotes 74
Comments 124
Date 13 June 2020 09:24 AM UTC (8 months ago)
Subreddit askTRP
Link https://theredarchive.com/post/672669
Original Link https://old.reddit.com/r/asktrp/comments/h849uq/ways_that_you_can_make_ypur_money_work_for_you/
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Comments

[–]GrandRiver31269 points70 points  (53 children) | Copy

Keep it simple. I buy shares of a Vanguard ETF (stock symbol VOO)which tracks the S&P 500.

[–]satanic_hamster21 points22 points  (0 children) | Copy

Keep it simple. I buy shares of a Vanguard ETF (stock symbol VOO)which tracks the S&P 500.

This, essentially.

If your money just sits in your savings account, it isn't doing anything for you. It's better to invest it with major players in financial services like Vanguard's (which is also what I use), Fidelity, or there are others out there.

What type of portfolio you want depends on what your financial objectives are. Are you looking to buy a house? Are you saving for retirement? Are you planning for your children's future? Are you trying to invest for passive income via REIT's? How much risk are you willing to assume? How old are you? Etc. You can speak with financial advisors who can set you straight on what your various options are. Vanguard's offers these possibilities.

[–]maddisser1015 points6 points  (44 children) | Copy

Just had a conversation with my investment banker friend about this yesterday.... bout to open up a Vanguard account this week.

[–]superomar1315 points16 points  (43 children) | Copy

NOT a great idea to do this week. S&P500 is about to crash majorly a second time. Wait about 2-3 weeks when the dust settles to invest in vanguard. Until then, check out some bear ETFs like SPXS or a volatility ETF like TVIX to make some money gains.

[–]L2diy6 points7 points  (6 children) | Copy

Never try to time the market. Just buy S&P 500 and it will go well. Volatility ETFs only matter if you are a short trader

[–]superomar133 points4 points  (5 children) | Copy

If you play the S&P500 you'll be waiting for 5 years before you get 50% gains lol. I'm up 100% already after investing for 3 months. And I'm still long in my positions, but expect another 2-300% over the next 2-3 years. Right now is not the time to play the S&P500, right now is the time to pick some wise investments while they're cheap.

[–]L2diy1 point2 points  (1 child) | Copy

Meh volatile ETFs are good for option trading but long term they aren’t going to produce. It’s always good to invest in large cap. It will always perform.

[–]superomar131 point2 points  (0 children) | Copy

Yeah the Bear ETFs I mentioned are definitely only good for a day or two, thats all. Long term right now, I'd suggest airlines, cruise lines, your standard blue chips (disney is WAY undervalued right now and I plan on loading massively) as well as some medium chips that have blue potential like Draft Kings new ticker and Nikola which is Tesla's biggest competitor currently in the semi truck realm and have their own twist with hydrogen

[–]ruboski0 points1 point  (2 children) | Copy

Big reach but could I get some advice from you?

Never invested before but my savings + emergency fund are decent and I've got a bit to play with. Where would you recommend I start my research?

[–]superomar131 point2 points  (1 child) | Copy

I learn by doing, so if you're the same way, take 100$ and put it in the market. Play around with it. Paper trading isn't the same. Go on stocktwits and learn the lingo. See what ticker people are talking about and then try to find out why its going up. See if you can make that 100 into 200. You'll learn gradually but the best way to start is to dive straight in

[–]ruboski0 points1 point  (0 children) | Copy

Thanks for that! $100 is the same as $10,000, just scaled up, so it's a great place to start.

Thank you!

[–][deleted] 8 points9 points  (24 children) | Copy

Because you can predict 2-3 weeks out? The reason for investing in an index fund company like Vanguard is to take predictably out of the decision. Stock markets always go up more than they go down, doesn't matter when you buy in as long as you hold for the long term.

[–]superomar139 points10 points  (19 children) | Copy

No? Because the crash has already started as of last Thursday. Vanguard ETF crashes just like the rest of em, why would you tell him to invest in Vanguard when it's literally at its post crash peak, right at the beginning of another crash? On top of that, if you knew how the market worked at all, we are literally in one of the most volatile times in the market which means there are literally 100s of companies that you could invest in right now that would give you MUCH better returns than Vanguard right now. It's quite obvious you're a retail investor who settles with Vanguard, but lets leave this one to the more experienced investors/traders.

[–]GrandRiver3122 points3 points  (1 child) | Copy

You may be able to time the market well but I generally wouldn’t recommend that advice to a beginner. Everyone’s always up....until they are not.

Simple S&P index fund is very solid investment with dividends set to re invest. Especially for a beginner.

[–]CanadianCryptoChris0 points1 point  (0 children) | Copy

Stonks only go up right?

[–]Stokestix2 points3 points  (9 children) | Copy

Did you load up on puts, since you are so sure? Funny how you think you know where the market is heading.

[–]superomar13-1 points0 points  (8 children) | Copy

lmao, I'm not predicting it heading that way, its ALREADY heading that way. The first domino just fell on Thursday. Talks of a second wave are under way. Unemployment numbers are getting higher. Watch, monday will be a green day and then starting tuesday onwards will be crashing again. I'll come back to this post to prove my point

[–]Stokestix0 points1 point  (5 children) | Copy

Just post your puts and it'll prove your point. No need to wait. RemindMe! 5 days

[–]superomar130 points1 point  (4 children) | Copy

You don't even need 5 days, look at how the market is by the end of today lmao

EDIT: Made a quick 20% on TVIX this morning and the market hadn't even opened

[–]Stokestix0 points1 point  (3 children) | Copy

Watch, monday will be a green day

Such prophet

[–]Stokestix0 points1 point  (1 child) | Copy

lmao, I'm not predicting it heading that way, its ALREADY heading that way

Damn, man. Is tomorrow gonna be -10%. Hmmm...

then starting tuesday onwards will be crashing again

Still waiting for that crash predicted by the Reddit expert.

[–]superomar130 points1 point  (0 children) | Copy

It's coming, up and down all week, we're back to where we started this week, lower highs, lets see what next week brings. Correction is coming

[–]SalporinRP0 points1 point  (5 children) | Copy

When you invest in Vanguard ETFs you're investing for 10+ years probably.

The guy is a noob who learned about Vanguard through a friend, aka not a seasoned investor. Better for him to just stick it in VOO and keep investing in it then try to time a volatile market.

[–]superomar130 points1 point  (4 children) | Copy

This volatile market isn't too hard to understand. Like i was saying, markets going red all week this week. If I were him, I'd get in DKNG, DIS, and BA, 3 massively undervalued companies at the moment

[–]SalporinRP0 points1 point  (3 children) | Copy

You are dealing with someone who is a complete noob. Him trying to time a volatile market is a good way for him to lose all his cash. God you're stupid.

[–]superomar130 points1 point  (2 children) | Copy

Na, just because you're a loser who can't trust himself to make money in a volatile market, doesn't mean you have to project that stupidity on others. I was a noob to trading three months ago, and am now up 300%. My brother was a noob 3 weeks ago and he's up 100%. Don't put limits on yourself you fucking cuck

[–]SalporinRP0 points1 point  (1 child) | Copy

I've made plenty of money over the last 3 years investing.

But telling someone dude who's never even bought a stock before to try to day/swing trade is fucking retarded.

[–]TreatYouLikeAQuean0 points1 point  (3 children) | Copy

If you bought in February it would've taken until about this last week until you broke even because the losses were so substantial. If you bought in March you could already be up 50%.

So yeah, it does matter when you buy in when the market is in an extremely volatile environment.

[–][deleted] 0 points1 point  (2 children) | Copy

Uh no, not if you hold for the long term. Which is exactly what I said if you read my comment completely.

[–]TreatYouLikeAQuean0 points1 point  (1 child) | Copy

Very simply put for you.

Person A bought various stocks in February and held for the next 10 years.

Person B bough the exact same stocks at the dip and held for the same time.

Person B could be up 50% more than person A.

[–][deleted] 0 points1 point  (0 children) | Copy

You are assuming that the market raises over the next ten years and that initial drop doesn't average itself out. It would if you Dollar Cost Average. Also you can't time the market so anticipating a major drop is not possible.

Yes if person A bought exactly at the top and person B bought exactly at the bottom and they never invested another cent for the rest of those ten years then yes, B would win. The longer you go out, the more that drop averages out and the closer A and B become until they're basically the same.

What we can learn here is that you shouldn't worry about the market so long as you are investing and holding for the long term. Don't be a day trader unless you like working harder and losing more money than a passive index investor. Only one man has consistently beat the market each year and that is Warren Buffet.

[–]ruboski0 points1 point  (0 children) | Copy

!remindme 18 days

[–]dazednconfuse0 points1 point  (0 children) | Copy

It's actually good to buy the dip but the stock market is in kangaroo mode. Would look into credit unions for CD. I have 1 year return of 30% which isn't too bad. If you could do the homework I'm sure you can find a better deal.

[–]ruboski0 points1 point  (0 children) | Copy

!remindme 2 weeks

[–]maddisser101-1 points0 points  (7 children) | Copy

Yeah honestly I might wait until after the election, pay off my loans, and then dump a bunch of capital into the market before grad school so it can accrue while I'm not working and have good credit in the meantime.

I was thinking of small, medium, and large market cap stocks, per my friend. I had a few in mind but am waiting to see if there is more legislation being passed that could affect student loans and the market. Not trying to pay everything off and then Pelosi gives a $10k handout to everybody with loans and I'm SOL.

[–]superomar131 point2 points  (6 children) | Copy

I'd stay away from small cap for long term. They never have good business models and the chance of you finding and getting lucky with that 1/100 chance that you find a small cap worth investing in is not worth it. Aim for medium for great returns and pretty safe investments. For mid caps look into NKLA and DKNG, two companies I'm heavily invested in.

[–]maddisser1010 points1 point  (1 child) | Copy

Nice, nice. Thanks for that. Do you have any news sources that are reliable for staying up to date?

[–]superomar130 points1 point  (0 children) | Copy

Bloomberg and CNBC are your friends but your broker whether TD, think or swim, or one of the apps will have news as well

[–]SalporinRP0 points1 point  (3 children) | Copy

NKLA is a scam. It was an easy pump and dump after their IPO, but everyone wants to crown them the next TSLA when they don't have a single working model.

Also their proposed hydrogen fuel cell tech is a pipe dream. It was great to swing trade it, but take profit and get out. Long term it ain't doing shit.

[–]superomar130 points1 point  (2 children) | Copy

Just watch, it will. I'm not comparing it to Tesla. I'm saying it's the future. The funding and backing they've got behind it is incredible and I'm investing more in the founder than the company itself

[–]SalporinRP0 points1 point  (1 child) | Copy

Hydrogen fuel tech is inefficient shit.

[–]superomar130 points1 point  (0 children) | Copy

They said the same thing about electric cars at first. What I like about Nikola is that they're building their own hydrogen fueling stations all around the world. They're not retarded lol, they wouldn't build a giant company with over 60 employees and multiple corporation funding for experimental purposes lol. You're just hanging on to every word of analysts, which makes you a sheep. You're quoting everything you read in the comments on webull, or stocktwits, or whatever else your poison is, which makes you a sheep. Analysts and people have their own agendas, and any comments you read are trying to make that agenda a reality. Hydrogen fuel IS the future, and Nikola is here to stay.

[–]Stokestix2 points3 points  (0 children) | Copy

Wish someone told me this 10 years ago! Parents are so useless when it comes to finances.

[–]WolfofAllStreetz0 points1 point  (0 children) | Copy

Which is fine if you want it to sit there until retirement, cant really pull it out without short term cap gains hit.

[–]JaFaRr90 points1 point  (0 children) | Copy

OP there are many vehicles out there that will generate an income, what you should focus on is how it’s generated. Passively or Actively.

Also a great book to read is The Business of the 21st Century by Robert Kiyosaki (same author of Rich Dad Poor Dad)

[–]opper-hombre10 points1 point  (3 children) | Copy

Does that one require a minimum investment?

[–]GrandRiver3121 point2 points  (2 children) | Copy

My Roth IRA and taxable account are through TD Ameritrade and they are commission free for stock trades. One share is around $280 so you would need at least that much to buy one share. I usually buy 2 shares a month. I also have dividends to set to re invest (no charge and let’s you buy fractional shares)

[–]opper-hombre10 points1 point  (1 child) | Copy

Ah shit, I was thinking of Vanguards mutual funds that have minimum investment requirements

[–]GrandRiver3121 point2 points  (0 children) | Copy

They may have minimums for the mutual funds but the ETFs don’t

[–]CasaDeFranco38 points39 points  (19 children) | Copy

Personally, my best high risk/reward investment was a Pre-Series A startup where I was paid a decent salary + equity. I cashed out and now I invested in index stocks, a few blue chips that have good returns, and I've also dropped some coin to exploit the current COVID situation.

The average person here thought, graduate at 22, secure a decent role, and max out your 401k and IRA for 10 years with 6% returns. That amount by itself will be worth $3,441,145 after 35 years by the time you're 67.

Despite evidence to the contrary, many people continue to believe they can beat the market average in returns. Get a good job, maybe start a side hustle that is actually scalable, otherwise, get rich schemes usually have a high risk with little upside.

[–]IBETITALL4203 points4 points  (2 children) | Copy

hey man were you a founder of that startup or did you just join in the early phases?

i'm trying to start shit up myself, any advice? thanks

[–]Queasy-Track1 point2 points  (0 children) | Copy

I remember my first startup. It failed, the first one is but possibly supposed to fail? Hehe...

[–]CasaDeFranco0 points1 point  (0 children) | Copy

I was a Founder but increased shareholding after one founder bailed

[–]Stupyyy-1 points0 points  (12 children) | Copy

He might not even be alive by the time he is 67. You are overstretching this like everyone is a guaranteed will make it by 100 years.

[–]satanic_hamster20 points21 points  (5 children) | Copy

He might not even be alive by the time he is 67. You are overstretching this like everyone is a guaranteed will make it by 100 years.

A couple of years after I legally became an adult, I was astonished at how quickly time flies by after that.

When you're ten years old, waiting until Christmas is an eternity. When you're older, Christmas arrives far too early.

[–]L2diy0 points1 point  (2 children) | Copy

Maxing our 401k isn’t feasible for most people

[–]SalporinRP0 points1 point  (1 child) | Copy

Wut? Yes it is

[–]L2diy0 points1 point  (0 children) | Copy

At 22 you had $19,500 extra dollars to invest in your 401k after maxing your $5,500 Roth IRA contribution, and your $3,550 HSA contribution? That’s pretty unreasonable unless you have virtually free cost of living.

[–]cjack9514 points15 points  (5 children) | Copy

Buy a Multifamily home and live in one of the units, rent the others out. You’ll only need 3-5% down payment. Educate yourself before doing it. I’ve learned so much since I’ve done this. Something about a tangible asset where you can work with your hands and see progress when you learn how to fix something new really gives you a purpose.

[–]sanholo141 point2 points  (1 child) | Copy

How do find tenants?

[–]cjack950 points1 point  (0 children) | Copy

I Advertise on craigslist, Zillow, Facebook, realtor, sign in the yard, any other online rental platform I can think of such as cozy.

[–]BalkanChrisHemsworth0 points1 point  (2 children) | Copy

I'm kind of interested in doing this. I make enough dough to move out now, but I can probably convince my dad to invest with me and maybe get a 4 unit house and start renting it out.

[–]cjack951 point2 points  (1 child) | Copy

Give it a shot, I know it’s not what people normally do but the normal is to be absolutely broke. normal people are absolutely broke, don’t be normal. I’d recommend reading Rich dad poor dad and checking out bigger pockets books, podcasts and website for more real estate related information.

[–]BalkanChrisHemsworth0 points1 point  (0 children) | Copy

My dad used to do real estate, thats why I'm interested in doing it with him. He used to have a building he rented but he stopped after he had tenant after tenant not paying and having to take 6 months to evict. I'll talk with him and see whats up.

[–]I-am-ed22 points23 points  (4 children) | Copy

man i wish i can understand what you guys are talking about.

[–]2319Skew23 points24 points  (0 children) | Copy

Use google + start reading. Don't be lazy.

[–]satanic_hamster4 points5 points  (0 children) | Copy

man i wish i can understand what you guys are talking about.

The basics of investing aren't complicated. It's all based off the fundamental workings of the market.

Take it from Ray Dalio.

[–]beginner_1 point2 points  (0 children) | Copy

Investing in an ETF that matches your index of interest (read main index of your country of residence to avoid currency risks) isn't exactly rocket science. The advantage being that these have very low administrative costs and usually perform just as well as actively managed funds.

[–]ShortDamage9 points10 points  (0 children) | Copy

I've recently started with investing, and i really regret not starting sooner. I don't know yet how everything works, but i was surprised how "easy" it really is to start making some money. I always thought you needed to be really good at math and stuff to make proper money off stocks. Turns out you just need free time to do proper research.

I took around 3k and did some research on some companies i believed in and bought some stocks. I've mainly focused on short/medium term stocks, and stayed away from pennystocks. If i had a ton of money, i would rather buy big stocks that pays quarterly dividend. But since i don't have that much capital it doesn't really make sense to get a few dollars in dividend through the expensive stocks. I've made over 2k since i started 3 months ago. Obviously, i've been a bit lucky with the current market, but if you do research and invest in solid companies with a lot of growth potential then the risk really isn't that high. I haven't started with options and stuff like that yet, as i don't really feel like taking the risk atm.

[–]superomar136 points7 points  (1 child) | Copy

Well if you want to be smart, don't take money advice from the redpill lol. Check out the fastlaneforum, much better advice for you there.

[–]DerpJungler4 points5 points  (0 children) | Copy

True. I took finance advice from TRP a year ago and now I can't climb out of the r / wsb hole lmao

[–]nikcufboomer5 points6 points  (1 child) | Copy

I like to play things safe. Make time and watch coach break some shit down.

https://youtu.be/AvnGMlRPBNc

Take from it what works for you. I follow a plan similar to his pretty closely.

The only time I gamble is betting on the underdog in NFL to piss a few faggot friends off that get super worked up, and it’s just 20-40 a few times a year.

[–]Destrongunion0 points1 point  (0 children) | Copy

Great CRP shoutout that guys an OG! Love his vids!

[–]NeuroBoss312 points3 points  (2 children) | Copy

Investing as other people have commented is a good idea, but in general I'm against the whole: "I want to make as much money as possible with minimal effort (because I'm a lazy fuck, rather than because I want to be optimal)".

I read a bunch of people here talking about "this is the alpha mindset: screwing people over and getting rich and fucking bitches". Are you guys like in high school or something?

Become a professional athlete, start your own business, become an artist, become a lawyer. Choose whatever it is that makes you happy. Having a constant influx of money requires you to be exceptional in any field you chose, and there is no shorter path that isn't hard work.

[–]maxmillion131 point2 points  (0 children) | Copy

Lmao I’m 21 years old and I chuckle when I hear that. Yeah you can make money screwing people over (I’ve done that!) but you can only do it once/twice. You’ll make what? $2-3k? No one will want to do business with you after that. It took me half a decade to rebuild my reputation. I’m just lucky I started young.

[–]Cyo_The_Vile1 point2 points  (0 children) | Copy

I own a side business and I can say it requires effort. There isn't a fucking short cut and that's not how life works. Lot of young people think there are shortcuts to effort.

Putting about 8 hours a day into a "side hustle" netted me $130K first year and $209K second year and that's on top of maintaining a 12 hour job. The hustle is internet based so I did it at my full-time job :)

[–]rpgedgar1 point2 points  (0 children) | Copy

Do you have a budget? If not, get on that ASAP. Investing is a great, but having a budget in addition helps you understand where your money is going now and gives you an opportunity to examine your life, habits, etc.

[–]jackandjill221 point2 points  (1 child) | Copy

Hmm.

[–]seducter1 point2 points  (0 children) | Copy

Fuck.

[–]downvotesanimals1 point2 points  (0 children) | Copy

Invest in boring market tracking ETFs. Take advantage of tax advantaged accounts (whichever is available in your country). Max those out then start investing in taxable/cash accounts.

Spend as little as possible, invest as much as possible. Depending on your earnings and habits, you might be a millionaire in no time.

[–]maxmillion131 point2 points  (0 children) | Copy

S&P 100 is higher performing and more stable than S&P 500. iShares has an ETF that tracks it. Add money every payday to your brokerage account and buy those.

Learn about real-estate and buy foreclosures, fix them up and rent them out. Easiest way to make your first million.

Get a real job. You’ll not be rich no matter how good your investments perform if you’re making $15/hr. Get a real job that pays more than $60k/year. If you have a college degree that is easily achievable. If you don’t have a college degree, try and get one.

Start a TRADITIONAL business that you understand. A liquor shop, a cell phone shop, a restaurant or the likes. Be smart about it. Work in one of the businesses before you actually start one of your own.

[–]hollabomb1 point2 points  (0 children) | Copy

Another tip. Buy a house, rent it out. But another house, rent it out. Repeat as necessary.

[–]Readdeo4 points5 points  (3 children) | Copy

Watch this channel: https://www.youtube.com/channel/UCV6KDgJskWaEckne5aPA0aQ

And do not ever buy crypto. That shit is worse than a casino.

[–][deleted] 7 points8 points  (0 children) | Copy

Found the guy who bought bitcoin at $19k

[–]satanic_hamster0 points1 point  (0 children) | Copy

And do not ever buy crypto. That shit is worse than a casino.

Indeed.

[–]beginner_0 points1 point  (0 children) | Copy

And do not ever buy crypto. That shit is worse than a casino. Yeah right know it is, but if you invested early, let's just say it paid out better than any stock ever will.

[–]mern554 points5 points  (10 children) | Copy

If you have some capital or can raise it you should go build a 2+ apartment complex.

If you don't have a lot or capital and are young you should risk more and buy options, crypto or trade on forex.

If you're between those then i'd sugest you buy gold, silver and a small amount or crypto.

But above all you should first order and READ the top 10 books on finance.

best of luck to you! Someone who spent the last 20years building/designing large financial systems.

[–]satanic_hamster6 points7 points  (6 children) | Copy

If you have some capital or can raise it you should go build a 2+ apartment complex.

Syndicated loan investing is pretty popular among apartment investors.

If you don't have a lot or capital and are young you should risk more and buy options, crypto or trade on forex.

I strongly advocate against doing this.

[–]Gainznsuch1 point2 points  (4 children) | Copy

Can you go into more detail on syndicated loan investing?

[–]satanic_hamster1 point2 points  (3 children) | Copy

Can you go into more detail on syndicated loan investing?

In particular, I was thinking of these two books (1, 2). The first one I read, the second one I somewhat went over.

I don't personally invest in apartment buildings (not because I think they're a bad idea, but because my objectives are different), but I loosely know a couple of people that have and have done very well for themselves. I'd advise you read much more about it before you potentially commit to anything. The investing subreddit may also be of more help in that domain than I can be.

[–]Gainznsuch2 points3 points  (2 children) | Copy

Oh I'll definitely need to do homework on this, but I've been looking for another means of investing my capital than just stocks/ETFs

[–]satanic_hamster3 points4 points  (1 child) | Copy

Oh I'll definitely need to do homework on this, but I've been looking for another means of investing my capital than just stocks/ETFs

It largely depends on what your financial goals are. If you're younger and can take on more risk, your potential for significantly greater returns are much greater and you don't have to be so conservative. Syndicated loan investing in apartments is one of those options that bears a good amount of fruit, and it's become much more noticeably popular in recent years.

The day's of being a successful individual day trader are rapidly dying. The whole market is increasingly becoming dominated by quant's and other math geniuses working at hugely successful firms like RenTech and 2Sig and AQR, and that's who you're competing against. If you want to make money, encourage more of that passive investment and discuss your portfolio selection options with an advisor at Vanguard's or wherever your money's parked. They have plenty of options available.

[–]Dogeayy-2 points-1 points  (0 children) | Copy

ETF

that's absolutely false, if you don't get greedy and can keep emotion out of it its fairly easy to make a profit day trading.

[–]WolfofAllStreetz0 points1 point  (0 children) | Copy

Good look with that much capital around to build apartments. New tenant laws are awful too for landlords in this state. Cant evict even if they dont pay.

[–]Frebaz1 point2 points  (1 child) | Copy

can you share the top 10 books of finance in your opinion?

[–]themidnightfox0 points1 point  (0 children) | Copy

A Random Walk Down Wall Street would be a good starting point

[–]4workworkworkwork1 point2 points  (0 children) | Copy

You about to make him lose everything lol

[–]BornShook0 points1 point  (0 children) | Copy

ETFs are fast and easy. SPY/VOO, QQQ, NOBL, and TDIV are a few of my favorites.

[–]hollabomb0 points1 point  (0 children) | Copy

Big thing is to just start. Like many have said mutual funds that track and index. Dollar cost average (invest a set amount every month) and ride the wave. Market goes up, you make money, market goes down you buy at a discount.

Leverage tax advantage first 401k, Roth IRA, and then normal IRA. Still have money to invest after that? ETFs.

Now if you want to quit your job and day trade go for it. Never forget time and effort are required for success.

[–]sharpwolfangs[S] 0 points1 point  (0 children) | Copy

Thanks to everyone that responded, I have a lot of research to do but your comments gave me an idea for what to look for on google. There's a lot of terms that I don't even know the meaning of.

Special thanks to the ones that gave links to learning resources

[–]KingMike19970 points1 point  (0 children) | Copy

22 years old here. Corporate job.

Stick with FAANG stocks (Facebook Apple amazon Netflix google). Maybe not Netflix now. You think Apple will go under? It’s 350 dollars a share but you get what you pay for.

I umpire baseball on the side. Travel or high school. 50-70 a game. 2 hours. Anything worth it will take time

[–]Fusionnn-2 points-1 points  (2 children) | Copy

Options investments. Made 400% over the past few months

[–]maxmillion13-2 points-1 points  (1 child) | Copy

Lol how much did you loose before you made 400% 🤣

[–]Fusionnn0 points1 point  (0 children) | Copy

[–]OlderRedBrother-1 points0 points  (0 children) | Copy

does anyone here successfully swing trade crypto or anything like that? Programming buys and sells at certain points in the market to take advantage of the fluctuations, making 1% or 2% or 5% gains here and there adds up over time?



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