Current Events > Fucking christ I need to start investing my money to make more money

(+) Yeah! (+)

But I dont know how. I have around 50k saved and I don't know what to do with it. The bank offers investment portfolios but they only offer pennies worth of returns really.

Do I get into gold trading? Converting that money into gold might be good because of the rumor that gold never depreciates, but I'm still unsure.

Do I put 10k into 5 different stock options, 1k into 50 stock options? But I dont even know how to do the stock market thing.

I just dont ever want to live paycheck to paycheck like I hear about from so many around me. I want to live comfortably regardless of whats going on in my personal life

https://www.youtube.com/watch?v=Y3AM00DH0Zo

I remember last time I had 50k in savings. My mistake was asking the internet what I should do instead of like a financial advisor.

You should lower your expectations first of all, a 10% annual return in something like the stock market is an amazing year. So with $50k, if you end the year with $55k, that is a great performance.

A good return on investments is only like 10% >_> Don't expect your investments are gonna blow up like dogecoin or something lol

DKBananaSlamma posted...

A good return on investments is only like 10% >_> Don't expect your investments are gonna blow up like dogecoin or something lol

Yeah, crypto is really the only arena you could see crazy gains. But also could see everything blow up in your face.

I have 2 sets of friends. 1 is like "invest! If you invest you'll become a millionaire. I know someone who invested and now he's just living off his investments traveling the world and living it easy" and I'm like jfc dude if its so easy why don't you do it why doesn't everyone do it do you realize how insane you sound.

And the other set of friends are in crypto. And they swear by it, how they're making a profit and everything. Not just crypto, the nft thing too.

Buy a house

Noumas posted...

And the other set of friends are in crypto. And they swear by it, how they're making a profit and everything. Not just crypto, the nft thing too.

NFTs are complete trash right now. You could have made money off NFTs like a year or two ago, but they're nothing at the moment.

Crypto in general is down bad and is mostly just scam projects and coordinated PNDs. I made a killing in 2021-early 2022, but I would not recommend entering crypto now. Maybe when next bull comes

Set up a brokerage account and invest in low risk stuff if you're worried about losing your money.

If you're super risk adverse, don't invest any money that you think you might need in the immediate future or buy short term treasury bills or something.

If you're super giga risk adverse find a high yield savings account.

BunkerBoy posted...

NFTs are complete trash right now. You could have made money off NFTs like a year or two ago, but they're nothing at the moment.

Crypto in general is down bad and is mostly just scam projects and coordinated PNDs. I made a killing in 2021-early 2022, but I would not recommend entering crypto now. Maybe when next bull comes

I actually tried googling how to do the bitcoin thing last year. I thought wait why don't I just buy the bitcoin with my money, sit on it, then sell it. Sounds so easy.

But when I went to the bitcoin website apparently the max you can put in is 3k or something while the bitcoin (at the time) was 16k. So I went oh. Ohhhh. That's why millionaires and rich people haven't broken it by literally just buying it all and sitting on it.

After that I kinda just lost interest

Interest rates on high yield savings accounts are probably 4.5-5% if you dont want any risk. You usually gotta keep like 50k or more in them tho

a bachelor unit should cost 200k

50k isn't quite enough to 'make money' for free in the stock market.

Noumas posted...

I actually tried googling how to do the bitcoin thing last year. I thought wait why don't I just buy the bitcoin with my money, sit on it, then sell it. Sounds so easy.

But when I went to the bitcoin website apparently the max you can put in is 3k or something while the bitcoin (at the time) was 16k. So I went oh. Ohhhh. That's why millionaires and rich people haven't broken it by literally just buying it all and sitting on it.

After that I kinda just lost interest

Well, the way to really make money in crypto was DeFi (degen) trading. You could buy stuff that had just launched at like 10k market cap (spending a couple bucks) and that same token could be 10m MC a week or so later. 1000x gains in a week. This was so common in DeFi, it was practically a weekly occurrence. Even now there are still a few

Like that Pepe shit from a couple months ago. Started under 100k MC, went to 2b within the month

It actually was big enough that it made normal news

Was quite easy to go from nothing to 6 figures a couple years ago.

If you remember Kanjo posting about FEG on this board back in Feb/March of 21, if you'd bought 1k worth when he shared, you'd have 100k give or take when it spiked. More probably.

I don't know if we'll see another overall sector run like that though.

Having a lot of money is the best way to make lots of money

If you just want to maximize your long-term gains and dont care about temporarily losing a bunch of value during a recession, then put all your excess savings into an S&P500 index fund and dont think twice about it.

Invest in low fee mutual fund/ETF that covers the whole market or a segment of the market like the S&P 500. Something like VTI or SPY. If you continue to put money in throughout the years you'll do fine.

Hospy posted...

Set up a brokerage account and invest in low risk stuff if you're worried about losing your money.

If you're super risk adverse, don't invest any money that you think you might need in the immediate future or buy short term treasury bills or something.

If you're super giga risk adverse find a high yield savings account.

This is money I feel comfortable taking out of my savings account in order to invest or divest or whatever its called. Like if I lose it all it would suck bad but I wouldn't be destitute.

Noumas posted...

This is money I feel comfortable taking out of my savings account in order to invest or divest or whatever its called. Like if I lose it all it would suck bad but I wouldn't be destitute.

Then the most straightforward way to invest is what these guys posted:
Bass posted...

Invest in low fee mutual fund/ETF that covers the whole market or a segment of the market like the S&P 500. Something like VTI or SPY. If you continue to put money in throughout the years you'll do fine.

radical_rhino posted...

If you just want to maximize your long-term gains and dont care about temporarily losing a bunch of value during a recession, then put all your excess savings into an S&P500 index fund and dont think twice about it.

Bass posted...

Invest in low fee mutual fund/ETF that covers the whole market or a segment of the market like the S&P 500. Something like VTI or SPY. If you continue to put money in throughout the years you'll do fine.

I'm fine with putting that money in and leaving it alone for years, trusting that it will grow to a much larger number, if that's how it works? Since I'm not married I dont see myself needing to dip into it any time soon, but you never know when or if a big expense might come along.

Download a the Robinhood app with someone's referral, you'll get 4 free stocks and they'll get 4 free stocks, pick top companies that you buy and purchase from all of the time and invest in those companies that you would be a "proud owner" of, since that essentially waht you are when you become a shareholder

Noumas posted...

I have 2 sets of friends. 1 is like "invest! If you invest you'll become a millionaire. I know someone who invested and now he's just living off his investments traveling the world and living it easy" and I'm like jfc dude if its so easy why don't you do it why doesn't everyone do it do you realize how insane you sound.

And the other set of friends are in crypto. And they swear by it, how they're making a profit and everything. Not just crypto, the nft thing too.

It's almost impossible to make your first million through investments. It's exponentially easier to make money once you have it. It's one of the truest capitalist ironies of our generation. If you want your money to stay around, don't be too risky with your investments. Your best returns should be about 10%. Don't believe anybody who thinks they can get 20-50% return on investment. Those are likely Ponzi schemes. I have a retirement portfolio through work that is diversified through mutual funds, stocks, and bonds. I also have a TFSA that is managed like a diversified portfolio as well. I have a third one through the bank that is a more solid, albeit slower appreciation in value, but is much more resilient to the whims and machinations of a volatile market.

radical_rhino posted...

If you just want to maximize your long-term gains and dont care about temporarily losing a bunch of value during a recession, then put all your excess savings into an S&P500 index fund and dont think twice about it.

Do people invest in stocks and stuff with a PayPal account. I heard that was "safe" but some sites even suggest credit cards

I probably wouldn't trust any investment website that is recommending you buy stocks with credit cards

For real just use a reputable brokerage like Schwab or whatever and connect your bank account.

Error1355 posted...

I probably wouldn't trust any investment website that is recommending you buy stocks with credit cards

this

Noumas posted...

Do people invest in stocks and stuff with a PayPal account. I heard that was "safe" but some sites even suggest credit cards

Open a brokerage account with a reputable firm. I use Vanguard personally, family members use Etrade and Charles Schwab