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/biz/ - Business & Finance

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19640084 No.19640084 [Reply] [Original]

I have absolutely no experience in finances beyond working shit jobs and barely scraping by. Between the covid-19 stimulus check and unemployment paying significantly more than I'd normally make working, I've found myself entirely debt free. I have minimal expenses and a comfortable amount in my emergency savings account. I'm getting unemployment through the rest of the year even after returning to work so this is my chance to reach the financial stability I've always wanted.

To that end, I'm wanting to invest nearly everything I can into shares of stocks/bonds/REITs/mutual funds/crypto/whatever while the money is flowing and risk is 0. My first goal is to match/exceed these unemployment payouts in passive income. I understand investing is a long term game full of ups and downs so I'm not expecting to reach this goal right away, which is why I'm curious about crypto. Another Bitcoin situation is unlikely so I'm not banking on that, but this board wouldn't be shilling all these things if they weren't making some money at it. A few questions:

1. Is this a good plan or should I meet with a financial advisor and see what they say?

2. Are apps better to use than a financial advisor? Robinhood seems fairly straightforward, deals with crypto, and their free stock for joining/referrals is enticing. Alternatively, I have a banking account with Chase already so I can open an investment account with them quickly, and their investment app sets up a portfolio for you if you have enough money, though it doesn't support crypto.

Question 3: should I go full throttle with investing now or keep saving up for another stock market drop considering how American society is doing?

Thanks in advance

>> No.19640673

>>19640084
Bump. This board moves faster than I thought

>> No.19640737

>>19640084
>My first goal is to match/exceed these unemployment payouts in passive income.

How much do you have to invest?

>> No.19640822

>>19640084
Don't use robin hood for starters

>> No.19640966

It doesn't matter what you use because they all do the same thing.

>> No.19641067

>>19640737
As of right now $5k which I know is absolutely nothing but that's because I was paying off everything. I'll be able to put in at least 4x that for the rest of the year.

>>19640822
What's wrong with it? Almost every beginner's investment site recommends it

>> No.19641079

>>19640084
>19640084
>>19640822
If obesity is genetic, wouldn't a fat-friendly society have to lead to the disappearance of fats within a few generations?

In the past, most fats were forced to lead a normal life with a wife and children, i.e. their genes were passed on.

But if every fat person is no longer forced to do so, they can no longer pass on their genes. Therefore, the "fat genes" (provided obesity is genetically determined) are completely removed from the gene pool within a few generations.

Objections?

>> No.19641504

>>19641079
Except obesity isn't genetic. It's a result of either bad lifestyle decisions or rarely complications from medication. In that example, I'm one of the fat fucks who's now trying to lose weight and asking the equivalent of /fit/ only there's no sticky to send me to

>> No.19642895

>>19641067
>$5k
>passive income

Let's say you are VERY lucky, you invest in LINK, right now at best you get $25k in two years (it's not 2017 anymore), you buy a storage unit, you rent it for $150.

That's best realistic outcome i can see for a passive income in a "short" time.

>> No.19643026

>>19640084
Is that moot? kek

>> No.19643044

Moot lives matter

>> No.19643100

>>19640084
I’m doing the same exact thing as you but you’re overthinking it. Just dump all your money in Ghost and check back once a week.