Investment Advice

[raqi 734]

On 11/15/2023 at 11:25 AM, Horseyyy said:

Recently, I won an insurance settlement against someone for fracturing my spine which resulted in me getting like $50,000. I’m 18 years old and want to go to college but would rather spend the money on something that is going to make me profit or increase my experience in the stock market but apparently there’s going to be a recession soon (early 2024 according to multiple news articles) I’m wondering what I should do with the money and if it’s simply ‘invest it’ what should I invest in should I put money towards courses on options trading should I throw it all into a IRA/RA. I need advice! 

Act like the money never came to you and invest. If you can, try getting a financial advisor, and don't trust people on a gaming forum imo.

[ImHomeless 195]

Buy a Raptor and gamble the rest ! ^_^

[Horse 352]

3 hours ago, raqi said:

Act like the money never came to you and invest. If you can, try getting a financial advisor, and don't trust people on a gaming forum imo.

I’ve already talked to financial advisors, parents, and entrepreneurs but there are still smart people on this form I’ve seen it first hand how much money some people have on here it’s always best to get as much advice as possible and compare the best strategies 

[raqi 734]

3 hours ago, Horseyyy said:

I’ve already talked to financial advisors, parents, and entrepreneurs but there are still smart people on this form I’ve seen it first hand how much money some people have on here it’s always best to get as much advice as possible and compare the best strategies 

the community rn

 

[Harus 87]

On 11/15/2023 at 1:34 PM, AlexConway said:

 

Depends if you want fluidity of access.

 

If you don’t care about access, I would go with what @1998Corolla said. S&P 500 Index Funds are great for growth and moderate risk.

 

If you do want some access, never under estimate an IRA, CD, or even a good money market account (MMA). A lot of credit unions will have high interest MMA if you can maintain that 50k balance.

 

MMAs are also FDIC/NCUA insured, so if you’re worried about a recession, that’s the key.

 

CDs have contractual interest, so there’s a guarantee on your Return on Investment.

 

Finally, the money is yours, not anyone elses, respectfully decline anyone asking for money or loans, etc. If you do give a loan, always in writing to make Judge Judy proud.

 

Hope this helped

This is generally the best advice. Don't take unnecessary or wishful risks. Anything that gives above inflation revenue will stand you in good stead for your future.

[RamsBottom 7]

As someone who owns 9 rental properties and has multiple shares of the most popular stocks i would say vortex has good advice there is literally no downside to getting into real estate and investing in companies such as Nvidia,Tesla,Amazon, Vanguard, SPY. (Also keep in mind if your gonna do real estate you gotta go all out no holding back ik its scary at first but its worth all the risk/scares. Sometimes you gotta take risks to make big bucks.)