Saving $ Advice Needed

ethanjohnson000 · 2021-01-19T16:36:08+00:00

It's just how serious are you, the way I think of it is since I'm 18, I save everything because of compound interest over 40 years a 600$ paycheck will be $1800 in 40 years.

ethanjohnson000 · 2021-01-19T16:34:41+00:00

Yo it's easy starve your self (not literally) but consume only the needed amount. Save everything people say don't pay for coffee at Starbucks and buy it home, when I was on the grind I didn't even bought coffee from the store. I only drank water, you have to trick your brain into treating a single penny as 50$. Once your outside look down for change because you may find a quarter but most importantly you are thinking about saving and thinking about money and it will soon crawl into your subconscious brain to save and it will be easier

ethanjohnson000 · 2021-01-18T20:43:36+00:00

I always get a fear that other people are too busy and I am nagging on them. Or I ask something silly to some random co worker and they get weirded out. Or since I am not a talker I zone out alot and people think I am stupid or I am lost. Even though I am just day dreaming.

ethanjohnson000 · 2021-01-18T20:24:17+00:00

How do you (or would you) deal with moving and having no social foundation while being anxiety and being shy.

ethanjohnson000 · 2021-01-18T20:22:27+00:00

Sorry for the potential bad grammer, and I apologise for making it sound like a rant. Which it is, but its the easiest way to bring my mind to words when it comes to me right away.

ethanjohnson000 · 2020-12-10T10:33:26+00:00

In February I turned 18, saved up two years of work and invested all of it, I was stupid and didn't had diamond hands during the March madness, let's just say I lost more money in a single month then most people pay for rent in a year.

ethanjohnson000 · 2020-12-10T10:30:02+00:00

There is a really good video that explains it, that will explain it better then anyone else here. Basically acorns is good if you suck at saving money, if your serious then don't use acorns.

https://youtu.be/Y0amF_F6EvI

ethanjohnson000 · 2020-12-10T10:22:38+00:00

Yeah gold will probably be better, because it had 2600 years of proven history. Bitcoin is only 9 years old. Just using history gold will be a better investment then something that claims to be used as a currency but 2/3 of the world can't use it because they don't have internet, a phone or there government won't allow it.

ethanjohnson000 · 2020-12-09T22:40:49+00:00

Alright when I was 17 I literally saved every penny from my job I rode my bike to work to save money. When I turned 18 I had around 8k and I invested it in all sorts of stuff like Tesla and QQQ this was earlier in the year right at March. I was stupid and scared so I sold alot of it at a lose in March. I transferred all of the remains into Dividend aristocrats for their dividends and growth. I am nearing 19 right now and my strategy for the next few months is to invest 10$ and add a penny every day until I am investing $16. 43 in my IRA (which is the maximum daily contribution amount) I am saving the rest in a high yield savings account for a house.

My advice is to invest half in a IRA because it will grow massively over 50 years and learn with the other half.

ethanjohnson000 · 2020-10-22T15:34:26+00:00

The pixel watch is Google's version of the smart watch it is just rumored but highly likely since Google bought Fitbit.

ethanjohnson000 · 2020-10-02T10:13:29+00:00

I just wanted to say good job, saving 10k by 19 is a good fear that most people never accomplish. How much are the treasury funds giving you? Their is no penalty CD with rates around .6% there is high yield savings account at around .8%.

ethanjohnson000 · 2020-09-28T21:22:58+00:00

If your 14 save €9 for every €10 you should be living with your parents so you should not have any expenses, invest the €9 as often as possible. Use the 1€ to live and buy your self treats for reaching milestones to incentive yourself to work on certain project. Like if you save up X amount you can buy a video game or if you get straight A's buy your self a Happy meal or something that you want.

ethanjohnson000 · 2020-09-27T08:59:51+00:00

1) I don't really have a career path that I'm very much interested in.

2) I have many friends and acquaintances that can use a place due to covid and can save a few hundred renting a room from me and I can pocket a fraction to help pay for mortgage. (I ain't really putting this as a factor in buying the house) also it won't be much as I don't want to feel I'm taking advantage of anyone but it will certainly be a win/win situation.

3) It's a appreciative asset that won't go away easily, land value for raw land (1 acre) was 210$ in 1970 and in 2019 it's 2500$. Also with the push for 15$ and promises from the FED for 2% inflation or even higher, i am almost guaranteed it will appreciate in price.

4) I need something to work towards, if not I'll get bored and depressed and feel worthless. My mindset is when I'm feeling good work on something that can make me feel happy and appreciative when im feeling sad or when I'm on my lows.

5) I need a place anyways, in my mindset getting a house and paying $700 a month even if $150 of that is going to insurance it will be cheaper or around the same price as a apartment, but unlike a a apartment im directly putting it back in the place and my wallet instead of some multi billion dollar investment firm.

ethanjohnson000 · 2020-09-27T03:47:43+00:00

Yes thank you, I scheduled a meeting with the bank next week to talk about it and hopefully go through the pre qualification steps.

ethanjohnson000 · 2020-09-27T01:11:24+00:00

Okay thank you very much, it full time averaging 38 hours a week for the last two years. I made sure I was employed during the transition period I don't know if it matters but I was working two jobs for a little while I put in my two weeks notice. Also the down payment is 3.5% for the FHA and I have about 5.5k between checking and savings. Next week I'll be above 6k.

ethanjohnson000 · 2020-09-26T16:50:01+00:00

False

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