I'm looking for legit financial advice. I'm 21, NEET for a week since I relocated, and have about $60k in available cash. I want to use the next few days to get into some low-risk investing. Any ideas?
If you're going to suggest ETH, at least hold my hand and step me through the buying process.
hold on to the money for atleast another 6 moths. the world market might shit itself really bad in the coming months. if you wait about 6-12 months and then invest, you can probably get everything you wanted to invest in at a bargain. start reading everyday from now, invest later.
Now is not the time, historically, the worlds markets are set to go in to bear mode, if they haven't already (which they have in my opinion)
Don't do investing, especially since you are a NEET, the best thing to do atm is to invest in yourself. What I recommend that you do is that you go to trade school and learn a trade. When layoffs start coming in, essential services like plumbing, electricity etc wil remain in demand from the common man so you can still get jobs.
Investing in yourself is the best investment you can make.
Don't go buying/investing stuff right now, for personal and for economic reasons.
When I say NEET, I should clarify that I haven't started a day of work yet. I just relocated to the other coast and am currently in the hiring process for a auto mechanic position. I start college this summer, but in the meantime I just go fishing and sit on 4chan at 5am.
Where do I begin with stocks?
For gods sake, I am trying to save you 60k
I understand you have the urge to be wise and see if u can turn a profit, but, now is NOT THE TIME!
The financial world is shitting itself. There is no point in even putting it in an ETF atm because that will go down as well.
Find a practice account on the internet and try your luck. When you start turning a profit is when you should start investing. THat makes sense right? You don't risk your own cash until you know your method works?
What I would do, is use 30k to knock off any student loans or real estate loans you have and leave the other 30k for a rainy day (you should have about 6 months worths of cash saved up just in case)
I'll go with a simulator then.
I don't have any debt or loans, but I thought about financing an investment property for around 150k once I start work. I've maxed out my Roth IRAs for the past 2 years, and all my tangible assets (car, tools, valuables) are left with my younger brother back home.
Don't do this OP
Think about it from their view
a) They don't know what they are talking about and you will go down with them
b) They do know what they are talking about and trying to fuck you over so you buy shares so it pumps and then they dump you
Real estate would be better, safer, and low risky-er wait 1 year and then you will see some massive discounts though
CDO's/Credit default swaps are still a thing, just renamed so Investment banks can make money
Chill out, wait a year. I know it seems boring but this is the wisest decision; while everyone else you know goes down.
You want to be walked through the process.
Get bitcoin wallet at blockchain.info
Buy bitcoin. (From localbitcoins this is the fastest way)
Get ether paper wallet at myetherwallet.com
Go to shapeshift.io exchange your bitcoin to ETH.
When you fuck up, OP, I want you to reflect on this moment. I want you to feel like you were played for a fool, because you were. I want you to remind yourself every morning that you didn't take the warning and you are 50k down.
Everybody else I know is an overeducated fuck with no job and an ugly gf, or an uneducated criminal with a hot gf. So me with a few rental properties won't be terrible. As for investing, I only play with my "reckless money", stuff I plan to lose anyway.
Invest in a solid cryptocurrency. Bitcoin is a good choice.
When traditional currencies start to shit themselves and banks start operating with negative interest rates, people are going to move their money to the only remaining safe place: cryptocurrencies