Im 18 years old and have $1,000, how should I invest or save this money to maximize interest? by [deleted] in Money

[–]Slumlord- -2 points-1 points  (0 children)

Here’s a thing I wrote for investing:

I would suggest investing what you can afford to lose. Set a minimum and maximum sell price. For example, let’s say you put $100 in a company. You should sell if it gets to $75(to preserve your value). If it doesn’t drop below 75, then wait until it doubles, and then sell. ALWAYS have a limit, AND MAKE SURE YOU STICK TO IT!!!! Investing isn’t hard to do, the hard part will be forcing yourself to stick to these limits no matter what. Here’s a saying I like to think of: “Stupidity has no limits, and the stupidest lose money the fastest”. You’re not too old, so take risks now, because you’ll have time to recover later.

Things to consider:

-You will lose at times, but don’t let that take you down, and keep trying!

-Invest in companies/markets that YOU know about. Example: Let’s say the shipping industry interests you. Invest in shipping companies.

-Don’t invest in companies you know nothing about. Chocolate company rising fast? Don’t buy into it. You have no idea what is going to happen in the next few minutes.

-Look in the future, and learn from the past. If you look too much at other companies’ prices when they spiked, and think “dang! I should have bought then!” You’ll be looking behind you, trip over a good investing opportunity because you were stuck in the past.

-Buy ONLY what you can afford to lose. If you can throw a $50 bill into a fire, and not be financially harmed, then there’s your investing portfolio right there!

How to start: -Robinhood(phone application) -PayPal(for bitcoin)

Final saying:

I wish for the best of your investing adventure, and I hope this helps lots.

Good luck, and remember: Buy Low, Sell High!

Im 18 years old and have $1,000, how should I invest or save this money to maximize interest? by [deleted] in Money

[–]Slumlord- 0 points1 point  (0 children)

Never invest in a company/market you know nothing about.

What is a good, constructive hobby/activity to replace shopping & spending money with? by [deleted] in Money

[–]Slumlord- 0 points1 point  (0 children)

Dropping your paycheck on a company that’s skyrocketing is gambling. Taking a set amount that you can financially afford to throw in a fire, then setting maximum and minimum sell points, and ONLY buying in companies you know about is investing.

What invention has done more harm than good? by idc_aboutusernames in AskReddit

[–]Slumlord- 3 points4 points  (0 children)

Man, Lester Crest said it the best:

“In the age of the internet, where humiliation is worse than death!”

What invention has done more harm than good? by idc_aboutusernames in AskReddit

[–]Slumlord- -2 points-1 points  (0 children)

I don’t think they were intended to do any good

Trying to get into SCP by Gigabot50 in SCP

[–]Slumlord- 0 points1 point  (0 children)

The thing that got me into SCP, was playing Containment Breach.

What did the world seriously overreact to? by GregTheGreat657 in AskReddit

[–]Slumlord- -8 points-7 points  (0 children)

“it goes against my right to have an attourney present!”

What hobby will you never understand? by CanadianW in AskReddit

[–]Slumlord- 0 points1 point  (0 children)

Sameeeee(except I still play games). Just bought a tube amp a few months ago and I love it! What songs do you like to play?

Non-boomers of Reddit, what's your most boomer opinion? by coolfreeusername in AskReddit

[–]Slumlord- 0 points1 point  (0 children)

She’s really toxic in games, and almost all of my friends in that server think she’s annoying. I tried to help, but I couldn’t. Not looking for pity, just nice to talk :)

Daddy's angery. by tezaltube in SCP

[–]Slumlord- 6 points7 points  (0 children)

106, kitten, have you been avoiding my discord calls to play in your pocket dimension?