How much do you have saved?
A little background, I just turned 21and am a sophomore in college with IB SA locked up for next summer. I have $61k in a money market account and $65k in a Raymond James account which is pretty much all mutual funds as well as an inheritance of around $80k-100k coming my way in a month. Going forward, I would like to get more aggressive in my investing and savings as my income rises but really have no idea where to start. I obviously don't want to be a dipshit with my money. I would say that I am pretty frugal and I recognize that I am extremely fortunate to be in the position that I am. I know there's some statistics that the vast majority of wealth is lost in the third generation (which happens to be me), I just want to make sure that I am able to preserve generational wealth for my kids and grandkids.
Now’s the time to be buying the TQQQ Dip, imo. Don’t go all in like an idiot but 10-15 slugs every x months, with the rest in cash and/or SPY (whatever mix you want) You are incredibly fortunate to be in this position. Most people never save 100k cash well into their 40s and 50s
Great savings. Did you work before going to school? I’m a 19 y/o rising senior, have about $25k and going into an IB SA stint.
I had worked since summer going into 8th grade and probably made about $6-7k. I had also worked 3 jobs during summer 2020 where I made about $15k.
TQQQ is not a way to ensure generational wealth, but rather the way to losing it 60% of it in a downturn.
You are in a great position - don’t gamble it all away looking to make a quick buck
We are in a downturn tho
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