Proper plan to grow cash

[Anonymous No.19738994]

I'm 21
I have 5,000 bucks and a few babby stocks and partial stocks on robinhood and cash app.
I make 210 a week at retail.

I feel like now that I got extra money, nows an opportunity to build it to big fucking places?
I wanna see if I can turn 500p into 10,000 instead of blowingmy money like I did at 18
What should I do?
What should I invest?
Should i try a high yield savings account ?


What should I NOT do?

[Anonymous No.19739038]

>>19738994
>210 a week
Don’t even bother

[Anonymous No.19739093]

>>19739038
Theres no hope to do some more with 5000?
Figured to an extent

[Anonymous No.19739349]

>>19739038
Then again I live with my parents and just graduated with a computer science degree, does that even the playing fields in my favor or am I still in a fucked position.
I'm trying to set up my future and not be dumb

[Anonymous No.19739382]

>>19738994
honest advice desu,
with low sums trade with leverage

[Anonymous No.19739475]

>>19739093

Of course there's hope, that Anon is a retard

Buying assets instead of just blowing the money is a smart move. The difference between the rich, the middle class, and the poor is this: The rich buy assets that make them richer, like stocks. The middle class buy liabilities that they think are assets, like houses and cars, and the poor buy luxuries, like booze and electronics and shoes.

Even leaving aside the possibility of picking genuine winners and making big money, if you can average an (incredibly modest) 7% rate of return, that $5000 with no other contributions is about $75,000 by the time you're 60. Or you can just blow it and have $0, like poor people do.

[Anonymous No.19739556]

>>19739475
>7% rate of return, that $5000 with no other contributions is about $75,000 by the time you're 60
Oh man that's a lotta money what should I spend it on hmm... What about those pallbearers from 40 years ago? Are they still around?

[Anonymous No.19739784]

>>19739556

You retarded poor old nigger, OP is 21. The biggest and most powerful leverage is time. The earlier you start investing, the bigger the payout -- every $1 you bank at 21 is like $100 decades later, when you're old and actually need it.

$5000 plus $200 a week for 15 years at a measly 7% rate of return produces just a tick under $300,000, aka buying a home cash at 35 instead of getting fucked by a mortgage for the most productive decades of your life.

[Anonymous No.19740598]

>>19739784
>>19739475
>>19739382
Thanks guys, imma make sure this time isnt taken in vain