Everyone is talking about buying some stocks with small amounts of money and keeping them for 5 to 10 years. Would that be a reasonable thing to do for a college student?
I mean, I can save like 1k per year at best for this. How much can it being in a short time like 5 years, 10 years? Should one do it whith such a small amount of money?
>>1014552
you cant , wait until you have a steady income or there's really not much of a point, you won't make much of a return and your funds are safer in a savings account.
It's not worth doing. Keep your powder dry until you have 10-20k and make a good investment in the stock market or a small business or real estate. Investing with a thousand dollars means you're going to spend A significant amount of time just trying to cover your trading fees.
who the fuck is everyone
everyone is dumb
>>1014552
Although investing isn't necessarily a game for the rich, it is a game for the financially stable. Focus on getting a career that pays well during college, don't choose a useless major that isn't going to get you any money and work your ass off. When you get that job you'll be able to save up more money per unit time to invest. The more money you make, the more you can save for investing, the quicker you'll recover should you fail, and the cozier you'll be in general.
I'm personally going into dentistry and when I'm making my $120000 I'll be living frugally while I pay off my student loans and save up for investment in either stocks or in a business. Point is, I can try to invest as a broke student now, but my return on investment would be abysmal. I might as well read and learn all I can about money now since I'm swamped with dental school anyway. Then I will emerge from my cocoon a rich bastard
>>1014552
Bought 40 euro worth of bitcoins. If I make no profit it's still fun and a nice learning experience.
Don't expect to get rich of it.
Curious, never been on this board. I've been working since age 14 (almost 20 now) and I have a car, no student loans (sophomore but college fund and scholarships) and a part time job at 12/hr but currently have basically no hours. I've put away around $13,500 in my savings account that has almost no interest. I'm assuming it would be smart to relocate these funds into assets that would slowly gain money, as theyre useless right now sitting in an account. What should I do with them?
>tl;dr
> age 19 college sophopmore
>college debt is not a factor
>already have reliable transportation
>$13,500 rotting in a savings account
>shit job atm, no hours
>also am going to pay 1500 in rent in the next 5 months so call it $12000 in the bank
>want to use this money to make more money while adding to it with a part time job
>how to use funds???
>>1014564
>trading fees
Okay grandpa
