What to do with my $11k?

I made $2k from being a dishwasher and $9k from other things this Summer. I don't want this money to sit around so what should I do with it? I want to put myself in the best possible position to score an internship next Summer (upcoming Freshman at terrible school). When I go in to interview and they ask for my resume I'll slap a printout of my portfolio in front of them, shows I have great cognition and decision making.

I was thinking

A. Cryptocurrencies, very volatile. I know a couple of online groups (obviously very private) who do some very unethical things here. Just take a look at cheap cryptocurrencies. $1 to $8-$10 easily and I have record of which ones they've worked with. These groups are sketchy nonetheless so idk. If you all think I'm lying I'll PM you the CC ticker symbols

B. Securities, traditional way. Can do it the 40 year old-mid life crisis- way and that researching undervalued stocks but that's boring

C. Notes, maybe put some money into sites like LenderClub where annual returns are around 7%-10%

D. Any other suggestions.

As always, thanks!

 

this bro's a troll, but thanks for the tag.

if I were your age, I'd bank half of it, and then take the other half, rent a beach place for the weekend, buy a bunch of uppers, some cali, and get bottle service for a bunch of women. that will be way more memorable than researching bitcoin.

edit: just realized this is a high school bro. still do the beach weekend, say it's a youth group retreat or something. nix the bottle service, keep the drugs, just stock the bar with a bunch of goose, patron, mixers, condoms, and house music. make sure the ratio is at least 1.5 beef to pole. 2 is better, but can get messy. you want guys with solid chill to pull ratios who are going to hype each other up but not encroach. the high school beach weekend could either end in tears of joy or blue balls and being jaded.

PS: don't let anyone drive. just get fucked up and have fun.

 

*Upcoming Freshman

Idk about trying to get wasted on a beach, but we all like passing around a joint when we're together. The only time I'll drink is at a frat party or college bars. Don't like drinking anyways tbh, was forced to drive home but made it thankfully.

Array
 
Pump and Dump:
20 years before it increases?

Are you saying you want to keep $11K for 20 years without it increasing? You can put it under your mattress if you want.

Quant (ˈkwänt) n: An expert, someone who knows more and more about less and less until they know everything about nothing.
 

This is the long-term conservative boring answer, so feel free to ignore it:

Fidelity offers a good selection of commission-free ETFs, and you should be able to create automatic monthly investments. Since you won't pay any commissions, set it to put $100 per month in a total market ETF. Hopefully at some point in the next 10 months you can add more money to the account to keep purchasing more shares each month.

 

You can't do sh*t with $1000. Do what euroazn said and buy some books to read up. Intelligent Investor by Ben Graham, One Up on Wall Street by Peter Lynch (BSD at Fidelity) and get a subscription to the WSJ and Economic Times.

Open a fake trading account on marketwatch. Learn how to do proper research from your books and then play with fake money. Get that emotional "sell when the stock is down" bullshit out of your head. After a while, save up and then invest. Good luck.

 

with that much money ETFs are basically the only option. Anything else and it would be impossible to diversify considering the fees. Im just a college kid so I have only $1,500 invested and that's what I did. Just my two cents. I also suggest you check out Tradeking.com I chose that over Fidelity since they charge almost have the fee per trade ($4.95). Fidelity is only the better option if you're investing alot more money

 

You have $1,000. I'm guessing you are young. Don't invest it in the market, invest it in a life experience. Your overall return on your life will be much greater this way. Sure you might end up with 15 or 20k on that 1k when you are ready to retire, however you can never get the time back for the experience.

Follow the shit your fellow monkeys say @shitWSOsays Life is hard, it's even harder when you're stupid - John Wayne
 

Mar 31 ITM Call/Put on TWTR

You have first earnings release as a catalyst. I'd recommend a straddle but that'd be too expensive. If you have balls you'd make a directional bet.

I'd also recommend, again if you have high enough risk tolerance - VIX puts/calls (hella cheap)

Or you could experiment with a few other strategies, such as short yen - long hedged nikkei (through ETFs).

You could find merger arb candidates (and again use options for the relevant short/long position)

I'd use the capital not as an investment, but a way to learn how to try out and understand strategies because if you're running money you'll begin to understand what's actually going on.

Don't be dumb money and stick it in the bloody SPY, that's boring, you won't learn anything.

 

Thanks, this sounds like a great idea. I can get a 100-150k mile BMW/Mercedes, put $500 in fluid changes depending if I'm feeling nice that day. Other than that, I can mark it up for $1-$3k profit to people in the inner city who have no priorities and just want a nice car to impress their friends.

Array
 

This topic has been beaten to death. The answers are always the same. Search

"Look, you're my best friend, so don't take this the wrong way. In twenty years, if you're still livin' here, comin' over to my house to watch the Patriots games, still workin' construction, I'll fuckin' kill you. That's not a threat, that's a fact.
 
Ofus01:
What do you mean handle my money? Not sure paying fees on a £5000 portfolio is worth it
I agree it sucks, but you have to start somewhere. Luckily I started when I was in high school with a retail account. If you don't want to have your money sit in your bank account, and I'm assuming you have a 401k, but you need to have a discretionary account that builds wealth.
 

Def check out the search function on the site but I always recommend the same general guidelines: 1) pay down high interest rate debt 2) put aside 3-6 months of cash in a high liquid account for emergency expenses (i.e. getting fired) 3) based on your amount, I would take the ~5k and put 50% in an emerging market ETF or low-cost index fund (i.e. Vanguard) and either a UK or USA domestic focused ETF. Good luck

 

do like me. gamble with penny stocks and lose 30% of your principal and not give 1 fuck. i go haaaaaaaaaaaaaaaaaaard on the paint bb.

Man cannot remake himself without suffering, for he is both the marble and the sculptor. -Dr. Alexis Carrel
 
junkbondswap:
Def check out the search function on the site but I always recommend the same general guidelines: 1) pay down high interest rate debt 2) put aside 3-6 months of cash in a high liquid account for emergency expenses (i.e. getting fired) 3) based on your amount, I would take the ~5k and put 50% in an emerging market ETF or low-cost index fund (i.e. Vanguard) and either a UK or USA domestic focused ETF. Good luck

And don't forget to invest through SIPPs, ISAs or any other tax-efficient accounts! I know, retirement sounds far, but you gotta start thinking about at some point

 

Rental properties can be something to look at depending on the area you live in. (and have someone to manage said property)

"Even if you're on the right track, you'll get run over if you just sit there" - Will Rogers
 

Actually, I read somewhere that people who start investing younger than 20 get better returns as time passes than people that start investing at an older age (assuming, of course, the guy knows what he's doing or works with someone who knows what he's doing).

“I’m into, uh, well, murders and executions, mostly.”
 

Short Apollo Education (ticker APOL). I've been bearish on it since January 2015, look at the YTD stock chart. Matter of fact, they were down 30 something percent today after missing on earnings.

Also, look in to the long/short equity strategy. This is a way to make money in any sort of market conditions (down, up, volatile) if you do it right.

Keep in mind that to short stocks, you'll need to open a margin account, which is not quite the same as a regular brokerage account.

Hope this helps.

 
itriedtobecreative:
Actually, I read somewhere that people who start investing younger than 20 get better returns as time passes than people that start investing at an older age (assuming, of course, the guy knows what he's doing or works with someone who knows what he's doing).

hahahahahaha

so a greater time period of investing increases returns?

that's genius!!!!!!!

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee
 

That is about the worst advice you can get.

Put it in a roth IRA. If you want some experience you can select some individual stocks or just choose a low cost index fund. If you are having to ask where to invest your money on WSO you are not even close to shorting a stock. Your downside is unlimited and upside is 100%.

Or just buy a lot of books. You get an amazing return on those down the road.

 

A hooker is probably better than a traditional college girl. Think about it, you bang the college girl, you wake up the next morning and she demands you take her out to breakfast. Then she demands you go spend time with her, then go out to eat where she orders extra for herself. Then she demands to have sex again and it goes over and over again. Before you know it my bank account it empty.

Yea I will stick to hookers

Array
 

That would be nice. Lots of my peers have went to Europe while I've been here working. My friend is actually offering we go to NYC during break this upcoming school year which I've been considering. We would stay in the UES at his relatives' apartment.

I'm wary about traveling to Europe ATM, though. I don't like all the ISIS craze happening and I don't want to be a victim. I mean this in a very serious way also, don't want to come off as a joke since a relative of mine was pretty close to one of the terrorist attacks in Europe.

Array
 
Pump and Dump:
That would be nice. Lots of my peers have went to Europe while I've been here working. My friend is actually offering we go to NYC during break this upcoming school year which I've been considering. We would stay in the UES at his relatives' apartment.

I'm wary about traveling to Europe ATM, though. I don't like all the ISIS craze happening and I don't want to be a victim. I mean this in a very serious way also, don't want to come off as a joke since a relative of mine was pretty close to one of the terrorist attacks in Europe.

I wouldn't worry about that. You're probably more likely to be killed in an auto accident in the US than killed by ISIS.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee
 

Honestly it's pretty safe for the most part. If you look Caucasian then you have almost nothing to be afraid of. On top of that, if you stay in semi-sketchy places like hostels like I did, you can save a decent amount and get to know some interesting people. Airbnb is definitely the way to go in a group though.

Quant (ˈkwänt) n: An expert, someone who knows more and more about less and less until they know everything about nothing.
 
m8:
Go on a 2 week trip to Europe. No one interviewing you is going to care what you did trading-wise your year before college. They will however love to hear about that time you spent backpacking through Europe for 2 weeks.

Yes, this.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee
 
DELETED1029384756:
Or you can turn it into MORE money!

Definitely you can turn it into more money,,,,i am not an expert at it but sure i would do it...still a month travelling around the world would make my mind much happier!

 

Honestly with only $11k I'd open a high-yield savings account and stick in there. Get around ~1% risk-free and have yourself a rainy day fund. Wait for the upcoming 10% correction, then put some into an index fund.

Props to your real job as a dishwasher. America needs more people like you.

If everyone was a trader, the world would stop functioning.

 

How many times have I heard you people going "10% correction" for the last few years? It is a fact that time in the market especially at a very young age will always win. You keep waiting years for that 20% crash to come not realizing the market had gone up 30% that entire time and you would have been better off just investing earlier than waiting for a dip.

Buy an index fund and no there will be no correction in the near term imo.

 
RocketToTheMoon:
How many times have I heard you people going "10% correction" for the last few years? It is a fact that time in the market especially at a very young age will always win. You keep waiting years for that 20% crash to come not realizing the market had gone up 30% that entire time and you would have been better off just investing earlier than waiting for a dip.

Buy an index fund and no there will be no correction in the near term imo.

This. People are trying to act like hot shots spamming "a correction is coming!" across chat rooms and forums. You're not God, you can't time the market. I just bought at the dip(s) yesterday for AMD and averaged down to 12.35. If I had tried to "wait for correction" this probably wouldn't have happened.

 

I'll go 40% with option A. Cryptocurrency is highly volatile but like your nickname suggests, it can be a quick profit for pump and dump altcoins like XRP, Ripple. There are many other pennies on the dollar altcoins in the market to buy and try to dump it after it rises 100% - 300%. You would need some extensive research and inside information but RIpple for example jumped 10% after AMEX using blockchain technology supported by Ripple for US - UK transactions.

Litecoin is also pretty good right now, right after the news of Lightning making BTC / LTC transactions almost instant. LTC jumped 15% just today. I would ride on LTC until $100 by end of this year most conservatively speaking.

 

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