CHANGE MY LIFE /biz/

[Anonymous No.12856176]

So here I am. I have a mutual fund left behind by a distant and deceased uncle of mine, and I have $14000 to invest. I want to make my entire living hoarding this money. I do online illustration commissions occasionally, but otherwise I have no real 'job' and I'm living with friends.

I set up an E-Trade account. Where do I go from here and what do I do with my 14k? I'll want to deposit as much as I can into it overtime, but for now that's where I'm at.

[Anonymous No.12856183]

>>12856176
Too little

[Anonymous No.12856195]

>>12856183
Implying any of you have $14k freely at your disposal to toss around

[Anonymous No.12856248]

>>12856176
14K really isn't much if you're trying to grow it into a living reliably with little risk.

You're going to have to go for moonshots with that money, get your first 100K, then start thinking about diversifying. I'd say once you have a few hundred thousand, split off a good half of it into 3% CD's and keep playing with the other half, and put your long-term savings in the CD every year. When you have about 2 million, that CD will be enough to live a well-off lifestyle within reason, for free, guaranteed from the 3% CD. Keep investing outside the CD and putting gains into it.

This is the lazy man's plan. The entrepreneurial minded would probably steer clear of CDs and invest their first few hundred thousand into real-estate or start businesses. Buy assets that produce value indefinitely. This can have much greater returns than the CD would, but it requires lots of effort and attention.

[Anonymous No.12856348]

>>12856248
I'll keep track of this plan then. I'm aware that $14k is hard to grow a living off of alone, but that's why I aim to save and deposit as much as I can overtime

I'm going to save what you've written and look to this for guidance. Thanks man

[Anonymous No.12856374]

>>12856183
This.

You can't even daytrade with that. And even if you could, you're going to crash and burn because everyone else has bots that are on servers co-located at the exchanges and they actually know what they're doing (supposedly.)

[Anonymous No.12856379]

>>12856348
Another thing you can do with your lazy man's wealth is invest some into long-term stocks that pay dividends. I personally don't do this for my own technical reasons, but lots of successful people seem to think it's a good idea.

[Anonymous No.12856415]

Everything into chainlink and hodl. You will be a multi-millionaire by 2022

[Anonymous No.12856425]

>>12856374
You can day-trade with $500 and turn it into something substantial if you really know what you're doing. HFT's provide liquidity and erase opportunity, but it's very possible to ride the wave together with those kinds of bots as a discretionary manual day trader.

https://www.youtube.com/playlist?list=PL1xI23WKVWifbz4T76SlG9l2a74JmkD0p

[Anonymous No.12856430]

>>12856415
The linkies destroyed this board

[Anonymous No.12856494]

>>12856425
You are going to bump up against the pattern day trade limit very quickly if you employ a daytrade strategy with less than $25k in your account.

[Anonymous No.12856560]

>>12856494
> 1/day 4x/week
I don't understand how difficult this is, but at the same time, I hate this bullshit so much. Is there ANYTHING in the world stopping you from cashing out your 401K, selling everything you own and betting everything on a hand of blackjack? Mmnope, the government is perfectly fine letting you take that risk. Wanna take $1000 and try your hand at day trading?
> SHUT IT DOWN GOY TOO RISKY FOR YOU FLAGGED FOR TRYING TO MAKE IT

[Anonymous No.12856579]

>>12856176
>14k trading account
>online illustrator

stick to the furry porn, kid

[Anonymous No.12856921]

>>12856425
so what the fuck does he do to know what shitcoins will rise?

[Anonymous No.12857485]

>>12856560
The idea is if you can't come up with 25k, you probably shouldn't be risking what you can come up with on daytrades. Save it for an emergency fund.

But we all know that the type of people who will bet on these things will also lose their money in shitcoins or lottery tickets, so I'll admit it's pointless anyways.

[Anonymous No.12857517]

>>12856921
He scans public stock data for criteria like abnormal volume the day before, etc.

[Anonymous No.12857704]

>>12856195
I have at least 14k between different accounts in the stock market and I still have to fucking work

[Anonymous No.12857713]

This book changed my life, I am now giving it to you OP because I LOVE YOU.

https://discoveriesrevealed.files.wordpress.com/2015/03/lazymansway2riches.pdf