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I'm in a position where I can save roughly...
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I'm in a position where I can save roughly $3000usd a month. I'm 25.

What the hell should I do with this money to make more?

My only qualification is ChemE.
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Start buying and selling shit.
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First commit to save up like $15 - 20k. That will be your emergency fund. Put it in a savings account and forget about it. Then, even if you lose your job or have a medical emergency you'll be fine and not have to sell anything.

Next, read mrmoneymustache.com - he teaches how to save up enough to retire early, like in your 30s.
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Buy high.
Sell low.
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Also you could just do; left, right, down, down ,X, L1, L1, triangle, O, X to double your money.

Continue to until rich.
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Learn how to day trade. It's not hard, it just takes a lot of practice to get good.
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>>1075736
Small-scale or large-scale?
As in: eBay flipping or buy bulk sell singular?

>>1075738
Rainy day fund seems like a good idea.
I'll read up on mrmoneymustache, I've heard a lot about it. Seems like even if I don't want to retire (I like working), it's a good way to have additional money.

>>1075743
>>1075773
I got mixed feelings about investing. I know it's a good idea but I can't help but feel taken advantage of at every step.
>Read books by people wanting to capitalize off of poorfags who want to get rich
>Invest through people who just take a chunk of my money to do the paperwork
>Pay tax off of what I earned if I finally make money
I guess I just need to stop bitching and actually do it.

>>1075752
I prefer greedisgood 999999, it even gives me lumber
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>>1075773
If I'm really good at World of Warcraft economies would I be good at day trading? ;^)

I feel like I have the personality for day trading (math and spreadsheet junkie with no life), but I need my hand held when it comes to real life. I don't know who to make a "day trading account" with, what kind of information or paperwork is needed, how to actually initiate the trade, who do I "buy from", who do I "sell to", what is the real-life equivalent of the "auction house" that I spend all my time camping, etc.
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>>1076395
>If I'm really good at World of Warcraft economies would I be good at day trading? ;^)

This is what got me into trading. No, it won't make you good at stocks but it shows you have interest and will making learning easy as shit while also giving you a bit of an understanding how shit works.

Yale and others have free classes online that will teach you everything you need to know and more.

Wow is like baby tier trading but there are similarities.
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>>1076395
Also, get the Robinhood app. unlikely you'll get rich from it but it's a great entry level tool for learning how to trade and what that entails.

After you're done with robinhood you should get an ameritrade account. Take your time to learn though before losing tons of money.
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>>1075735
diversify! invest in many things every month. also let me trade forex for you :) i only want to trade for /biz/ exclusive
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>>1076395
yes i think so. i started in virtual currencies like hats and items in games forex and stocks are close to the same just a little more risky
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>>1075738
>mrmoneymustache.com
Mr. mustache speaks the truth
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>>1076437
>robin hood is great because you can only lose a few hundred $

True, but the real benefit is all the bad habits you develop with your day trading of penny stocks
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>>1075738
dude go fuck yourself u don't need a 20k emergency fund you big noob noob.

just throw it in the stock market and if ur really hurting take it out
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OP, If you can really save 3k a month, you're doing great. I work a shit job and can only save 1k/month which is pathetic. Assuming you have nothing right now,you should be able to have a 10k emergency fund, and 26k in investments by this time next year.
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>>1077744
Someone was paying attention in elementary school!
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>>1077744
>I work a shit job and can only save 1k/month which is patheti

mfw half of the world works for 2 dollar a day and a bowl of rice.. fuck of entitled brat.
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>>1075735
$3000 a month LOL. I make that in a day sometimes. STEM meme destroyed. STEM fag btfo. Swing trading. Learn it.
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>>1077781
I've already admitted being a buffoon when it comes to investing.
Swing trading seems to be a viable, but the amount of money I have to pay to buy/sell stocks would make it pretty much completely a guranteed loss, or am I missing something?

On any note, my monthly surplus will only make it easier for me to build capital, so I would say STEM is still good.
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>>1077326
It is a pretty big amount, I guess it depends on how much you spend on a monthly basis.
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This advice is all terrible. At a minimum you should put $2000/mo into a sit-and-forget set up, like a diversified collection of ETFs (lots of equities, a little bit of fixed income).

I do not know how long you can sustain these savings, but $24,000/yr can quickly grow into a retirement fund that will let you quit being a wagecuck early. In fact, the more you put a way the quicker it will happen.

If you do $2000/mo you can use the remaining $1000/mo as funny money for riskier investments and hope for bigger gains in the short to medium term. There is nothing wrong with doing soemething like that, but it would be silly to do only that and cuck yourself out of a comfortable retirement.
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>>1075735
Buy houses to rent out. Renters pay your equity.
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In the long run if you know how to do home improvement competently and quickly(the important part) you could get into the rental market.

If you want to keep working for 10-15 more years get your MBA or do PMP cert. Engineering plus those is $$$
Thread replies: 24
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