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/biz/ - Business & Finance

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432202 No.432202[DELETED]  [Reply] [Original]

So I made my first money this year, 3000€. Where do I put it in without having to pay too much attention to the investment? The main job has a higher priority and is very time consuming after all.

>> No.432204
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432204

>>432202
yeah, no.

you need to look at your ENTIRE situation when dealing with money. remember, it's a stupidly important resource that you shouldn't treat lightly.

here's a rough guide.

>> No.432210

>>432204
so you are saying I am better off storing it in cash?

>> No.432228

>>432204
also this infographic is not suited for me. I live with my parents, have no debts, do not need an emergency fund as I am insured and in my country there is welfare you can live from. I can make an investment before piling up a financial safety-net.

>> No.432232

>>432210
I'm saying it entirely depends on the situation.

what's your security like? do you live with parents or pay rent? the latter may have you needing cash in an emergency. do you have some cash to use in the first place? what are your education, job, life goals. do you need to make stuff happen sometime in the near future where, again, you may need money?

lets say you have your daily life in order what then. have any debts that can use the extra money? do you even want to pay them faster if you have the cash? what are your retirement option, can you hide it from uncle sam a bit better.

shit goes on and on and it's something very personal. you have to see the big picture. yeah, you may say "BUT I DON'T GIVE A SHIT LOL #YOLO" when in reality you need to tackle this shit yesterday. immerse yourself in your finances and intertwine it with your life.

>> No.432237

>>432228
okay, that's a bit better

>do not need an emergency fund as I am insured
insured against what? medical? life? what if your tire blows out? are you insured for that?

everyone needs liquid savings. what it is may change, sure, but you do need to have a cash reserve.maybe 1k in euros is fine. but also look at your goals. make sure you have all that squared away. i don't know what investment options you have as i live in burger land so your on your own but just be careful and vigilant as to what you do with your cash

>> No.432240

>>432232
I am 26 and an entry level software dev earning less than 10$/hour. I still have to make my masters degree in two years. I don't pay rent. I do not have any goals and I do not plan on retiring as I have health problems that will result in me dying before 50 anyway.

>> No.432245

>>432237
medical, yes. I don't need life insurance as I have no kids and will never have any. I do not use a car. I thought about general liability insurance but I think the only thing it does effectively is calm down neurotic people worrying too much.

>> No.432280

does anyone else have an opinion, other than the insurance salesman here?

>> No.432289

3000 isn't really a lot to invest unless you plan to get into drug dealing. Put it in a TFSA or something and keep and maybe do things like flipping electronics on kijiji or some shit.

You could put it into the stock market I guess, but unless you go into super risky stocks (which I wouldn't recommend in your position) you won't really make fuck all.

>> No.432321

>>432289
but even a few % per year are better than nothing. or how much do I need to start trading in your opinion? 20.000?

>> No.432332

>>432321
There's no set amount but don't start with real money. Just "play" by yourself in a spread sheet or something, study the markets, do your homework, etc and go with what you think feels right.

But ya, investing isn't always black and white, or there's no real cookie cutter method to success, if there were everyone would do it. You gotta keep your ear to the ground and constantly be looking for new opportunities.

Gold/silver are also pretty good bets right now, I can't see either of them (especially silver) going down dramatically any time soon.

>> No.432351

>>432332
aren't there algorithms for that? can't you bind your stocks to what successful people invest in? or simply put it in something that has been growing for decades? what about investing (as a partial owner) in the housing market? the big cities are supposed to get gentrified even more in the future.

>> No.432399

>>432202

Nice screenshot, asshole. You could have at least done it without pausing.

>> No.432413

>>432202
God. I love people like you. You take the other side of retarded investments and make me money.

Please. Invest it. Options is best.

>> No.432442

>>432202
Find the best mutual fund to manage your money
>Anything that promises over 10% year-over-year is probs a lie
>Allocate towards conservative investors like Warren Buffet
>Do your research, these people are managing YOUR money. Would they care if they lost yours?
>Always keep at least 6 - 9 months away for rainy day fund, 10% or less should be used for speculation
Hope this helps.

>> No.432500

>>432202
Warsaw Stock Exchange -> CIG or CDR
Leave the money for 2-3 years sitting and there you have it. 100%+ profit. Check both companies for yourself.

>> No.433185

>>432202
Where do I put it in without having to pay too much attention to the investment?
>spy