What can I invest in with a little over $11k saved up? I'm 18 years old?
Already invested a little over $5k in the stock market and grabbed a few stocks while its low surrounding the coronavirus.. and they seem to keep going lower so i'll just wait until I see some momentum to invest some more.
Anyways, aside from the stock market, what can I invest in? I was thinking about property but I don't think I have enough and I'd have to educate myself more on real estate. Leave some suggestions
I’m in college already
- $$$Lv 54 weeks ago
Good, for you. I graduated from college when I was 21 years old, so it's not like I can ever lose that opportunity. I already passed my twenties.
You might lose everything you invested in the stock market. If you do lose everything then you can only blame yourself.
I could also invest in the stock market too, but I am nowhere near as stupid as you are.
I could invest the same as you in the stock market, or I could double it, but I won't do it.
You could have invested your money, so you can get a college education, and that's if the schools don't close down. I can think of other stuff you could have bought, but you would need more money. I still can think of stuff that you can buy that would be beneficial to have, and yet maybe you haven't thought about it like I have, and I know you already have enough money, for it.
What you did was, so stupid. Yes, I think the $11K would have been enough money, so you buy yourself a college education.
I don't think you have enough either, for you to be able to invest in property.
- Coffee DrinkerLv 74 weeks ago
I would steer you toward an index fund, particularly the S&P 500, which exposes you to all 500 companies on the S&P list and will result in your portfolio simply following the market. Its less risky than individual stocks.
I would also advise you that if your intent is to invest toward retirement you should put your investments inside of a Roth IRA account. This will make ALL of your earnings tax free as long as you hold the account until you are 59.5 years old. Don't worry, you can move your investments around within the account, for example you can move from an S&P Index fund into Bonds or individual stocks or even cash holding funds as long as you leave it within the IRA.
- rickyLv 74 weeks ago
Buy low and sell high is accomplished when stocks are on sale. Stocks are on sale now, because a temporary condition (virus) has values down. If you have bought in the last 2 days, you got a good price. Monday could see an even better discount. The virus will go away eventually. Mark my words, people buying stocks today will make a nice profit by the end of the year.
- danxp2Lv 64 weeks ago
There all sorts of things to invest in. Precious metals, individual stocks, index funds, investment funds for specific goals, government bonds, corporate bonds, junk bonds, REITs, a new self-employed business, a franchise, a restaurant, a night club, Certified Deposits, money market funds, residential rental, commercial rental, your self through education.
What is right for you depends on a number of factors, how long can you go without getting the money back? How much risk are you willing to take where you might lose the initial principal. Find and consult a Certified Financial Planner, CFP, or if they have a fiduciary duty to you. If they are not Certified/have a fiduciary duty they do not have to focus on what is best for you. They can sell you the things that give them the biggest commissions, regardless of how it benefits you.
If you would like to continue to do this on your own the best solution is continue to regularly buy a huge index fund so the cost averages out overtime. Trying to beat the market is for people who have ego bigger than Godzilla, or those who wish to lose money.
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- tiescoreLv 64 weeks ago
Your 18, buy some great dividend companies and hold them. Use the dividends and some of your earnings to build out a whole portfolio until you retire. Retire in style. Your way ahead of the game.
- The TaxpayerLv 74 weeks ago
you're thinking right. An S&P 500 ETF would be good.
- Casey YLv 74 weeks ago
You could fork over some money to an REIT if you dont want or cannot get into property ownership yourself.
- The DevilLv 74 weeks ago
Your investment needs diversity. So far this year the market has fallen around 10% and the covid19 issue shows no sign of letting up. If I was you I would have settled for a 2% certificate of deposit for the rest of the year. Now, can people start seeing how important business with Asia always has been? The rest of your money should be invested in your personal needs.
- Anonymous4 weeks ago
Id say be prepared to buy more if the stock market declines more. Over 20-35 years, you are going to make a lot of money. No matter if you don't catch the exact bottom.
- KyleLv 74 weeks ago
look into getting a Roth IRA. that is a retirement plan. you can contribute up to $6,000 each year tax free. that number changes each year as well. and the Roth will take your money into other portfolios to help it grow.
talk to a financial adviser from someone like Charles Schwab. they can walk you through step by step on what's a good fit for you.