need advice on what to do with $670 a month payed from social security - i am a teenager (mother passed)
Hello all. I am a 16-year-old, and unfortunately, my mother recently just passed away. I was just informed that I will be receiving $670 a month for 30 months (until I graduate high school) from Social Security. I am a very conservative spender, and I would like to put my money somewhere that can give me a reasonable return. Any suggestions?
hookers and blow?
in all seriousness...with the stock market in the midst of a selloff...i would try to buy an S&P 500 index ETF (SPY would be my choice) when the S&P gets to 2500 (not there yet..maybe in a month tho). I would advise going all in at that point. Unfortunately, you won't have all the money by then...so you can only buy a little $670 worth. I would just continue to buy SPY as you get the money.
If you want a single stock.....i think Pinterest (PINS) is a great buy here at 19...and if you can get it lower, just keep buying it. Buy the time you turn 18, i expect it will have doubled.
What's your thesis on Pinterest?
they have only scrathed the surface on monetization. when pinterest becomes more of a buying platform (right now, its mostly just research + ads) then they will see huge revenue gains.
buy the ETF, not an individual stock in your situation......
Sorry to hear about your mother. I can't imagine what you're going through, especially at a young age, so hang in there and just know that the future is bright.
As for the money, similar to what was said above, just buy the index. Much safer for someone with limited experience and is easy enough to understand. I would wait a bit though as it is currently selling off.
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