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Offlineviktor
psychotechnician
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Registered: 11/03/10
Posts: 4,293
Loc: New Zealand Flag
Last seen: 1 year, 9 months
Re: Where should I invest $6000 safely at 25 years old? [Re: Amphiphilosophical]
    #23747441 - 10/17/16 10:34 PM (7 years, 3 months ago)

Quote:

Amphiphilosophical said:
Sometimes investing money in needless education or degrees can resolve to bad outcomes.




If you believe there's such a thing as needless education then you are doomed to fail at life. Any advice we could give you would therefore be wasted.

:sorry:


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"They consider me insane but I know that I am a hero living under the eyes of the gods."


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OfflineBrian Jones
Club 27
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Registered: 12/18/12
Posts: 12,342
Loc: attending Snake Church
Last seen: 16 hours, 11 minutes
Re: Where should I invest $6000 safely at 25 years old? [Re: Amphiphilosophical]
    #23902237 - 12/07/16 04:41 AM (7 years, 1 month ago)

There are no safe investments that make money. There used to be safe investments that could make 5-6% but those days are long gone. You're in good shape for your age. I would recommend the Vanguard index fund that is 60/40 stocks to bonds (personally I would do 100% stocks, but that's just me).


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"The Rolling Stones will break up over Brian Jones' dead body"    John Lennon

I don't want no commies in my car. No Christians either.

The worst thing about corruption is that it works so well,


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Offlineshaggyp
California Hottboi
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Registered: 12/27/12
Posts: 454
Last seen: 1 year, 9 months
Re: Where should I invest $6000 safely at 25 years old? [Re: Brian Jones] * 1
    #23914428 - 12/10/16 08:10 PM (7 years, 1 month ago)

If you want stocks wait until the next market crash. Markets are insanely high right now and there's a good chance you can get in cheaper with some patience. But if you're saving for retirement, buying index funds (representative of large groups of stocks, less risky than buying just one stock) and holding them for 20 years will make you money. Research products like SPY and QQQ.

Also most financial advisors suggest some precious metals as well, and I personally recommend holding a bitcoin.

If it were my 6k I'd buy around $1000 in bitcoin, an ounce of gold, $1000 worth of SPY, $1000 worth of QQQ, and use your last $1000 to find stocks that interest you. Even if you pick shitty stocks, the act of picking them IMO will force you to learn more about how this works and pay attention.


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Burt Cocaine


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Offlineshaggyp
California Hottboi
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Registered: 12/27/12
Posts: 454
Last seen: 1 year, 9 months
Re: Where should I invest $6000 safely at 25 years old? [Re: shaggyp]
    #23914447 - 12/10/16 08:19 PM (7 years, 1 month ago)

IMO the best approach is to just not invest in 1 thing, invest in 5-6 different places. Dont put all your eggs in one basket and don't freak out if something dips a little (Unless you're day trading, but that's different).


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Burt Cocaine


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OfflineOrigyn
Neato
Male

Registered: 09/18/16
Posts: 1,031
Loc: On 2 wheels somewhere
Last seen: 1 month, 27 days
Re: Where should I invest $6000 safely at 25 years old? [Re: shaggyp]
    #23914537 - 12/10/16 09:00 PM (7 years, 1 month ago)

Good to see a youngin thinking about investing. I started with the dummy book Mutual Funds For Dummies then branched out to more robust readings. I started young too like you are.

I recommend a Roth IRA. It is post tax money so you get the returns later without being taxed. One of the advantages is that the initial capital invested is not locked up. You may withdraw any of the initial investment without penalty but none of the returns you made until 50 or 60 plus years old.

If you may need or want the money and returns in the near future, get a simple brokerage account and invest in mutual funds. Make sure you have the tax bill covered on your earnings.

Some may disagree, but unless you plan on doing your homework on an individual stock daily, mutual funds are the way to go.....instant diversification.

Finally, with mutual funds expense ratios (purchase fee, sales fee and operating costs) are the number one detriment to rate of returns. So look for high quality funds with low expense rations. Vanguard is known for having the lowest ERs in the business with excellent funds.

Read about expense ratios(ER), price to earning ratios(PE) and diversification!


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OfflinePatlal
You ask too many questions
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Registered: 10/09/10
Posts: 44,797
Loc: Ottawa Flag
Last seen: 15 hours, 43 minutes
Re: Where should I invest $6000 safely at 25 years old? [Re: Amphiphilosophical]
    #23915376 - 12/11/16 07:29 AM (7 years, 1 month ago)

Quote:

Amphiphilosophical said:
Currently 25 years old, working two jobs, and saving money all the time. My current savings are up to a little over 12,000 and I'd like to start using my savings for something that will make money overtime.

As a typical millennial I don't have much financial/investment knowledge but always willing to expand my awareness of better ways to skillfully invest in safe, effective, and reliable means.

Thanks for any advice that is given!




Right now the market is hot as fuck, and you're to young to be safe. Go agressive stock portfolio.


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Offlineshaggyp
California Hottboi
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Registered: 12/27/12
Posts: 454
Last seen: 1 year, 9 months
Re: Where should I invest $6000 safely at 25 years old? [Re: Patlal]
    #23916529 - 12/11/16 02:35 PM (7 years, 1 month ago)

Mutual funds are dead. Exchange traded funds are the way to go because they're less costly for financial institutions to manage, and those costs of actively managing the funds get passed on to you. Mutual funds are for old people. This isn't the 80s.

Also the market is hot, but you buy dips, not peaks. If the S&P never dips below 2020 again I'll eat my own shit. Buy when the market isn't hot so you can pay less for the same shit.

Just my opinion, but worth researching the points I'm making. Pay less for the same shit.


--------------------
Burt Cocaine


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OfflineCrystal G
I'm a teapot


Registered: 06/05/07
Posts: 19,584
Loc: outer space
Last seen: 8 months, 6 days
Re: Where should I invest $6000 safely at 25 years old? [Re: shaggyp]
    #23929437 - 12/15/16 01:40 PM (7 years, 1 month ago)

I would put it in a universal life insurance policy. The kind of policy where you put money into it for 20 to 30 years, and then you can start taking out $1,000 or so every month for the rest of your life.

You're young too, so your premiums would also be really low.


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Offlineshaggyp
California Hottboi
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Registered: 12/27/12
Posts: 454
Last seen: 1 year, 9 months
Re: Where should I invest $6000 safely at 25 years old? [Re: Crystal G]
    #23939540 - 12/19/16 12:18 AM (7 years, 1 month ago)

The way things are looking with inflation over 30 years, your $1000 per month will be able to buy you a meal per day at mcdonalds for the whole first 2 weeks of every month.


--------------------
Burt Cocaine


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Offlinetripo3
Trippy-Hippo


Registered: 04/02/16
Posts: 324
Last seen: 5 years, 5 days
Re: Where should I invest $6000 safely at 25 years old? [Re: shaggyp]
    #23941436 - 12/19/16 07:33 PM (7 years, 1 month ago)

savings, or cd is best choices or a bond, or if have time and can make more side money put it in a fixed income


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Tripo's First Grow Log


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InvisibleTakethatdarwin
Stranger

Registered: 12/19/16
Posts: 95
Loc: Shill, U.K.
Re: Where should I invest $6000 safely at 25 years old? [Re: shaggyp]
    #23942669 - 12/20/16 08:23 AM (7 years, 1 month ago)

Quote:

shaggyp said:
The way things are looking with inflation over 30 years, your $1000 per month will be able to buy you a meal per day at mcdonalds for the whole first 2 weeks of every month.



lol I was jus thinking the same thing


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Making sure these bored retired hobbyists stay busy during the holidays. Looking through some of them it looks like they Waste so much time and effort on these mediums they should be compensated salaries. Everyone could use some holiday double time ;p


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InvisibleKush_Zombie
smug piece of shit
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Registered: 10/22/14
Posts: 4,793
Re: Where should I invest $6000 safely at 25 years old? [Re: Morel Guy]
    #23943553 - 12/20/16 01:55 PM (7 years, 1 month ago)

Quote:

Morel Guy said:
Wait til after the election.  I hear the economy always goes to shit after a new elected President.  Housing could go to shit again.  Hate to see you invest then take a tumble after the after shocks of a new Government.



I'm sure the economy will get better towards the end of his election :ohyou:


--------------------
How to get started in bulk:
Presto 23-Quart Pressure Cooker
BOD's Simple as FUCK Still Air Box
PastyWhyte's Easy Agar Tek
Munchauzen's Cultivation Video Series
How EvilMushroom666 Prepares His Grains (I use jars with Synthetic Filter Discs)
What is G2G? (Grain-to-Grain)
Damion5050's Coir Tek (I use 5.5 - 6 quarts of water instead of 4. Also ignore step 13 and ignore the monotub completely. The only purpose of this tek is to show you how to make a simple substrate. I also add gypsum to it but not necessary)
Spitball's Monotub Tek (A liner isn't necessary but is useful)
Use 6500k lights throughout the whole process. When you wake up, turn the light on. When you go to sleep turn the light off. It's as simple as that.


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OfflineBrian Jones
Club 27
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Registered: 12/18/12
Posts: 12,342
Loc: attending Snake Church
Last seen: 16 hours, 11 minutes
Re: Where should I invest $6000 safely at 25 years old? [Re: Kush_Zombie]
    #23950825 - 12/23/16 03:56 AM (7 years, 1 month ago)

Inflation has been low since the 70's, and very early 80.'s so I have no idea what you people are talking about.


--------------------
"The Rolling Stones will break up over Brian Jones' dead body"    John Lennon

I don't want no commies in my car. No Christians either.

The worst thing about corruption is that it works so well,


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OfflineBrian Jones
Club 27
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Registered: 12/18/12
Posts: 12,342
Loc: attending Snake Church
Last seen: 16 hours, 11 minutes
Re: Where should I invest $6000 safely at 25 years old? [Re: tripo3]
    #23950860 - 12/23/16 05:04 AM (7 years, 1 month ago)

Quote:

tripo3 said:
savings, or cd is best choices or a bond, or if have time and can make more side money put it in a fixed income




Fixed income is dead. The percentages are so low they are embarrassing. Like for every dollar you put in you get 2 cents I  would still take a chance on an index fund or a 60/40 stock/bond fund. I guess it depends on weather Trump has something encouraging happen or a catastrophe. But fixed income is now so useless you might as well hide the money in your basement.


--------------------
"The Rolling Stones will break up over Brian Jones' dead body"    John Lennon

I don't want no commies in my car. No Christians either.

The worst thing about corruption is that it works so well,


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