Where do I invest my money? I have very limited capital.
Posted by Mr-Here-and-Now@reddit | CrazyIdeas | View on Reddit | 46 comments
I barely make enough money pay cheque to pay cheque. Where should I invest my money? It’s seems like with inflation keeping it in a bank account or savings account is almost pointless. I’m 23 and I make around 35k a year - I can save like 30 dollars a week- any ideas?
Wise_Willingness_270@reddit
learn some skills
Mr-Here-and-Now@reddit (OP)
I already play music and play sports - what kind of skills?
anbmasil@reddit
Marketable skills
Mr-Here-and-Now@reddit (OP)
What kinda marketable skills?
anbmasil@reddit
You’re helpless
Mindless-Today-7382@reddit
Microsoft office ( excel, word, etc) are super helpful and cheap to learn.
Mr-Here-and-Now@reddit (OP)
I can ya those already bro
Wise_Willingness_270@reddit
skills that make you more money
damontoo@reddit
Removed (not an idea). This is not a subreddit for asking for advice.
Jellylegs_19@reddit
The best thing you can possibly do is invest in yourself at this age and time if you're wanting to increase your income in the near future. There are many 2 year degrees you can get like nursing, radtech, respiratory therapy and many others that pay 6 figures after some time.
If you're completley uninterested in that and don't care to increase your income. Put that spare $120 a month into a roth ira or 401k. You'll be a millionaire in a few decades.
Mr-Here-and-Now@reddit (OP)
What is respiratory therapy bro?
Jellylegs_19@reddit
You're a doctor that handles breathing. Depending on where you live and how many hours you work. You can make 6 figures up to 200k even.
You also have a more flexible schedule. You can work 5 8 hour shifts. 3 12 hour shifts or even per diem.
goldieAT21@reddit
Google is free
Mr-Here-and-Now@reddit (OP)
Wym?
goldieAT21@reddit
I mean if you want to know what it it, you could Google it.
garytyrrell@reddit
Put it all on black
Mr-Here-and-Now@reddit (OP)
I’m racist tho
MisterBilau@reddit
Wrong sub. However, I would be able to save a lot on 35k a year. Spend less.
Mr-Here-and-Now@reddit (OP)
Bro my rent is so expensive- I’m look for a crazy investment idea tho
MisterBilau@reddit
Don't rent something so expensive.
Mr-Here-and-Now@reddit (OP)
My rent is crazy bro
DCASPX6900@reddit
Look into SPX6900.
Mr-Here-and-Now@reddit (OP)
What’s that?
DCASPX6900@reddit
It’s the new Bitcoin.
Mr-Here-and-Now@reddit (OP)
Yeh my friend been telling me buy Bitcoin - is SPX6900 a type of crypto?
DCASPX6900@reddit
It’s a memecoin movement. It’s already in the top 100 coins. But it will be a very prominent coin in crypto for the next 15 years at least.
Mr-Here-and-Now@reddit (OP)
Sick I will look in to it - people making crazy money on Bitcoin.
DCASPX6900@reddit
I sold my BTC and XRP for SPX6900 because I truly believe in it. Believe in something.
Mr-Here-and-Now@reddit (OP)
That’s crazy- must be worth looking in to- thnx bro.
DCASPX6900@reddit
Of course ❤️
Chopsticksinmybutt@reddit
Thanking yourself using alt accounts is the most pathetic shit anyone can do.
I would rather pick dingleberries for a living.
How about you get a job instead of trying to scam people online little man?
The_Troyminator@reddit
Ok boomer
Mr-Here-and-Now@reddit (OP)
Bro I live in nyc and I can’t live with my parents
MisterBilau@reddit
Stop living in nyc then, seems pretty obvious.
The_Troyminator@reddit
r/thanksimcured
Mindless-Today-7382@reddit
A rainy day fund would be better. Borrowing money, late fees and missing discounts is expensive.
DCASPX6900@reddit
I prefer full porting into SPX6900. The next GME.
vasilescur@reddit
Honestly? Sell drugs
Real answer - invest steady amounts on a fixed schedule into an ETF or index fund tracking the S&P 500 or the Dow Jones. When it's low, your same cash will buy more shares. When it's high, your same cash will buy fewer shares.
Over time (assuming the market still goes up), you will end up with more shares purchased cheaply and less shares purchased expensively.
This is called Dollar Cost Averaging and is the easiest, foolproof investment strategy (as long as we're not in a recession).
You can set this up in a self-directed investment account through your bank, or another brokerage like Fidelity.
More: https://www.investopedia.com/terms/d/dollarcostaveraging.asp
SecretRecipe@reddit
Meme Coins. If you lose everything (which you almost certainly will) then so what, it's an inconsequential amount of money that never would have helped you anyway. But on that 0.1% chance you buy something that sees a big ol pump and dump and you're smart enough not to hold it too long you could turn it into something significant
Mr-Here-and-Now@reddit (OP)
I heard of meme coins - which ones are looking good now?
SecretRecipe@reddit
No clue, I prefer not to light my money on fire. There are some other subs on reddit that specialize in that kind of thing though.
calimehtar@reddit
If you only invest that much, but do it continually over 25 years you'll have $270,000 if you invest in a NASDAQ ETF and it's a tax shelter, ie 401k.
I_might_be_weasel@reddit
Vintage TMNT pudding pies.
Mr-Here-and-Now@reddit (OP)
Wtf are they bro?
wizardrous@reddit
They’ve got real turtle in them.
I_might_be_weasel@reddit
https://youtu.be/11WZlv_mstE?si=ZLkWe71pLdmOG0EM