My dad gave me 100k. I'm canadian.
How do I invest it? I work a minimum wage job part time. And I have to pay 900 dollars in rent plus food every month.
How much should I invest in a TFSA every month or year.
I invested 3500 each in XCEL, Chevron, AT and T, Church and Gamble, Altria and Kraft 13 days ago. So far I've made 900 dollars. Should I stay invested in them?
What are other things I can invest my money in?
I am literally clueless in what to do with my money. I still wear crappy cheap clothes, own a crappy computer, use a crappy flipphone and own nothing good. I'm too scared to waste my money on stuff because I don't want to end up broke.
>>1011904
canadian couch potato
you probably didn't learn enough before you chose those stocks. im not saying they will fail but you probably have no idea which way any of the companies will go. 4% gains in 13 days doesn't prove anything at all, and you should definitely be looking at long term trades and not becoming a day trader.
>>1011904
I don't really know if you should be taking investment advice from 4chan.
Anyway, index funds and bonds then don't look at it for 30 years.
>>1011904
redistribute it: buy 100k dick suctions for $1 each
Wrote a novel on this and got depressed and deleted it. I'll summarize it.
Basically the most money I've had was 2k given me by my parents. I blew through half of it on three pairs of shoes. One pair was slightly too small, another pair gave me blisters, the last I gave away as a gift. Okay so what I'm saying is that fashion is a huge money sink. Fashion doesn't make you sexier, funnier, or whatever than you already are. Fashion is how rich people show off; if you aren't a millionaire, you aren't close to rich, and therefore fashion will always be humiliating.
100k isn't that much. You won't get rich by investing it in big stock options. You're basically just gambling. Instead, start or help start a business and ensure that your money goes where you send it. Everyone else is trying to make money as well, bringing 100k to the table is great if you can get them to bring something in return.
I'm willing to wager that you have no good rationale for investing in the companies you chose.
If you are a financial idiot, I would recommend that you do not buy individual stocks. You're a child playing a game with the big boys. When a company gets hit with bad news, professionals will act on it the very next day upon the opening bell and you'll be oblivious to it.
You're better off investing in an ETF for a particular sector, because the risk is spread across many companies of the same sector. It's far easier to know what sectors (oil, base metals, precious metals, consumer goods...etc) will go up or down, rather than an individual company since you don't know how to read financial reports.
>>1011904
With that much money first thing is max your tfsa for this year, then for next year too. Its the safest investment and pays back around a buck a month for every 1000 invested.
You should still have a substantial amount left that you can use on a basic house to mortgage.
With a large down payment that you can drop your monthly rates would be lower than your rent and you wont be paying someone else's mortgage by renting lol.
>>1012500
Also nows a really good time to buy a house cause interest rates are low as shit too.
>>1012500
What benefit would I have putting 5500 in this year? Doe s this mean when january 1st comes I can immediately put in another 5500?
>>1012118
Its what /biz/ said to invest in
>>1012283
What kind of business should I invest in? How do I go about doing that.
I have no idea what kind of business to investin or how to find someone doing htat.
For example if someones opening a dry cleaning place. How do I know about this. How do I invest? How do I know its smart to invest in a business like this or if i can trust the person?
