How to start investing with only $1kUSD salary?
Hi guys!
Currently, I'm a college student with a full scholarship for a 4-year degree. However, I do not seek to continue studying once I graduate, I've been wondering in what could I invest today to make my $1,000USD per month worth it.
I think traveling is a waste of money.
Thank you for your time!
Currently, I'm a college student with a full scholarship for a 4-year degree. However, I do not seek to continue studying once I graduate, I've been wondering in what could I invest today to make my $1,000USD per month worth it.
I think traveling is a waste of money.
Thank you for your time!
Original post by Julia Anderson2
Hi guys!
Currently, I'm a college student with a full scholarship for a 4-year degree. However, I do not seek to continue studying once I graduate, I've been wondering in what could I invest today to make my $1,000USD per month worth it.
I think traveling is a waste of money.
Thank you for your time!
Currently, I'm a college student with a full scholarship for a 4-year degree. However, I do not seek to continue studying once I graduate, I've been wondering in what could I invest today to make my $1,000USD per month worth it.
I think traveling is a waste of money.
Thank you for your time!
When you say invest, do you mean into a degree, or into investing for future returns (such as stocks and shares)?
I heard real-estate in Spain is doing alright
If you haven't got this already, I would first recommend looking into proper education into the actual investment strategies and other methods to ensure your losses are minimised and such. I recommend to look up ITPM as they provide good knowledge that professional traders use to raise capital, as well as the correct trading discipline that is required (Their courses are a bit costly though so keep that in mind). It's all about finding what works for you though if you are planning to be in this for a long term so look around for courses and mentors that aren't scammers or anything.
Also I wouldn't throw travelling under the bus just yet, travelling is a great way to gather perspective into what works and what doesn't around the world, both politically and economically which is something you can use later on in your trading career should you wish to use fundamental analysis for your portfolios.
https://www.youtube.com/watch?v=O5AcFX9Gm00 - This video here explains the benefits of travelling much better than I would to be honest.
Hopefully this is of some help, good luck with whatever you end up pursuing
If you haven't got this already, I would first recommend looking into proper education into the actual investment strategies and other methods to ensure your losses are minimised and such. I recommend to look up ITPM as they provide good knowledge that professional traders use to raise capital, as well as the correct trading discipline that is required (Their courses are a bit costly though so keep that in mind). It's all about finding what works for you though if you are planning to be in this for a long term so look around for courses and mentors that aren't scammers or anything.
Also I wouldn't throw travelling under the bus just yet, travelling is a great way to gather perspective into what works and what doesn't around the world, both politically and economically which is something you can use later on in your trading career should you wish to use fundamental analysis for your portfolios.
https://www.youtube.com/watch?v=O5AcFX9Gm00 - This video here explains the benefits of travelling much better than I would to be honest.
Hopefully this is of some help, good luck with whatever you end up pursuing
Original post by Moooooooon
When you say invest, do you mean into a degree, or into investing for future returns (such as stocks and shares)?
investing for future returns!
Many ways, and it depends what you are good at. The easiest way to make a future return safely. Is to invest money monthly into the S&P 500 index fund. The S&P 500 is like 90% of American business overall, so you’re esentially “betting” American will be worth more in the future, which is highly likely.
Here’s the maths: the cumulative average year of year for the S&P 500 (in the long term 10-20 years) is 10.4% annually. So, $1000 a month, every month, for 22 years. And you are worth $980,000, but only invested $240,000. After 9 more years, $2,000,000. 4 more years. $3,000,000. And so on. By the time you retire you should be a multi millionaire.
Real Estate is okay, but your returns are slow. It will take 20 years to get your rental return high enough to buy another house.
You can buy your own stocks, and try to beat the 10.4% average. But that is highly unlikely and the odds are well against you. Play safe, buy the S&P 500, for a guaranteed safe future. But remember, don’t look at the markets every day, every week or even every year. 5 years is still short term! The real return is made after 10-20 years. Don’t sell because the market goes down, that is the best time to buy. Don’t buy because the market has gone up, that is the worst time to buy. Best way is just buy monthly, otherwise you’ll miss too many opportunities.
Good luck.
Here’s the maths: the cumulative average year of year for the S&P 500 (in the long term 10-20 years) is 10.4% annually. So, $1000 a month, every month, for 22 years. And you are worth $980,000, but only invested $240,000. After 9 more years, $2,000,000. 4 more years. $3,000,000. And so on. By the time you retire you should be a multi millionaire.
Real Estate is okay, but your returns are slow. It will take 20 years to get your rental return high enough to buy another house.
You can buy your own stocks, and try to beat the 10.4% average. But that is highly unlikely and the odds are well against you. Play safe, buy the S&P 500, for a guaranteed safe future. But remember, don’t look at the markets every day, every week or even every year. 5 years is still short term! The real return is made after 10-20 years. Don’t sell because the market goes down, that is the best time to buy. Don’t buy because the market has gone up, that is the worst time to buy. Best way is just buy monthly, otherwise you’ll miss too many opportunities.
Good luck.
(edited 5 years ago)
Original post by Julia Anderson2
investing for future returns!
1) What are you saving or investing for and what is your timescale? The advice saving for retirement (where you will have to invest in equities via a SIPP or S&S ISA) is very different to that saving for a house deposit in 3-5 years time (where you will probably want to keep the majority in cash or take advantage of a Help to Buy ISA).
2) Do you have any emergency savings? Often the markets will crash at the most inconvenient time, there's nothing worse than selling your investments at a loss to cover an unforeseen expense.
3) What is your attitude to risk? How would you feel if your investments feel in value by 20-30%? How about 50%? What would you do? Keep buying more or sell your holdings?
Original post by KingNotorious
I heard real-estate in Spain is doing alright
By the time a regular investor "hears" of such an investment tip the opportunity will have almost certainly have passed or the "edge" gone (Bitcoin being a great recent example).
If you haven't got this already, I would first recommend looking into proper education into the actual investment strategies and other methods to ensure your losses are minimised and such. I recommend to look up ITPM as they provide good knowledge that professional traders use to raise capital, as well as the correct trading discipline that is required (Their courses are a bit costly though so keep that in mind). It's all about finding what works for you though if you are planning to be in this for a long term so look around for courses and mentors that aren't scammers or anything.
The vast majority of investors would see better returns investing in low cost index trackers via tax efficient accounts (eg; SIPPs, S&S ISAs).
There are a number of free and readily accessible resources (eg; Monevator Blog, MoneySavignExpert Forums, BogleHead Forum) or cheap books (eg; Investing Demystified, Coffeehouse Investor, Millionaire Teacher, Common Sense on Mutual Funds).
Trading in commodities, currencies or individual shares is incredibly risky, far riskier than investing in a broadly diversified equity portfolio.
The likes of iML and ITPM exploit the ignorance of regular investors by overemphasise the ease of generating a profit while vastly understating the risks. If they were "that good" at what they do they wouldn't be selling tips, charge membership fees or charging for "training" or mentoring.
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