What should a financially retarded person do with $5k that took a year of saving?

[Anonymous No.53374782]

Bros, I'm the first to admit that I'm kind of retarded. Worked in menial labor my whole life. It's taken me a year to save up just $5k and I just wanna use it to help me not have to fucking work so much. Is it even possible for the economically illiterate to invest such a meager amount and have it mean something in five years?

[Anonymous No.53374792]

>>53374782
wtf. is this real???

[Anonymous No.53374819]

Safe boomer way, invest it all in a low cost eft. Like spy. Set up an account and every paycheck have it auto deposit as much as you can. Even 150 a check is better then nothing. If you can do more do it.

250 a check into spy in ten years will be over 100k. Obviously more money you can spare will equal higher yields

[Anonymous No.53374827]

>>53374819
What the fuck is spy?

[Anonymous No.53374832]

>>53374792
Why did it take a year to save 5k? Is it due to a low paying job, or silly expenses or a combination of both.
I only earn 1800-2000 euros a month and have managed to save 5000 euros in 6 months, would've saved more if not for all my fucking uni fees.
Is this 5k the only amount in savings you have?

[Anonymous No.53374845]

>>53374827
Go watch a 5 minute YouTube video on sp500 investing. Open a brokerage at any of the available ones, set up auto deposit, and treat it like a bill for your future. The more you pay the sooner you will be free. Helps if you are young

[Anonymous No.53374859]

>>53374827
It is an Exchange Traded Fund (ETF). It is just a fund on the stock market that is basically a blend of stocks rather than just an individual company.

That is good advice though. Easy to sign up for a stock account and start auto-depositing. Just set it and forget it. You'll be shocked when you look at it a few gears down the road.

[Anonymous No.53374861]

>>53374782
Invest in yourself. Buy some books about living with whatever condition you have that is making you retarded. The more you understand your learning disability, the better you'll be able to cope. Maybe hire a wrangler for a couple weeks who can keep you from eating glue.

[Anonymous No.53374877]

>>53374832
After my bills I only have about $500 extra each month. I live pretty modestly and only really spend more than I should on food. I'm not buying Starbucks and avocado toast, but I love a good ribeye. I have a 200 mile radius of homogeneity in people's and won't surrender that for better work opportunities.

[Anonymous No.53374900]

>>53374859
How safe are these? Is it like any other stock and you may as well have lit your money on fire if they crash?

[Anonymous No.53374910]

>>53374877
What is your emergency fund?

Do you have any retirement account with your work?

Generally the rule of thumb for lower income folks is (I know /biz/tards will yell at me for this) max Roth IRA contributions then put leftover into a 401k if your job offers one.

[Anonymous No.53374925]

>>53374900
Just Google SPY and look at the max chart. It has its dips like anything in the market, but generally over a long period of time it will grow.

[Anonymous No.53374983]

>>53374782
You should ignore everyone in this thread trying to turn you into a lifelong slave. If you want to escape that situation with any youth left to enjoy then you absolutely need more risk. You need it. You need to buy a stock that could do a 2x in the short term. I recommend COIN, or just straight up buying ETH. If you ignore me you'll be not much better off than you are now in a year. But if you heed my words, you have potential to save yourself. Long term I'd say keep stacking ETH, but don't be afraid to sell it to trade other short term opportunities you spot on /biz/. Everyone else in this thread is a faggot that belongs on reddit.

[Anonymous No.53375033]

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You should return to reddit and kill yourself. That's what you should do.

[Anonymous No.53375066]

>>53374983
Omg you're right. After that 2x OP can retire with his $10k.

How could we be so silly.

OP, just get on dextools and check the Live New Pairs tab. Go All in on the first one that has a name you like.

[Anonymous No.53375073]

>>53374910
cant believe i'm reading this fucking shit on /biz/ honestly. if he wanted your advice he could've just asked his great grandad lmao

[Anonymous No.53375085]

>>53375066
you'll never make it, and neither will OP with you ruining lives with your garbage advice that every truck driver follows. get the FUCK back to plebbit