HOT TOPIC I have $1,000, should I invest? Save? Buy hazmat suit?

[Knowledgefactry]

I am hesitant to ask this question as I have seen how MJ responds to stupid and ~very~ broad questions in his books, but I have to shoot my shot regardless. I am a college student in about $15k in debt, soon to be graduating. I work part time and make enough money to pay my rent and necessities, but will not be making enough to save until months in the future. I have just gotten a $1,000 check from my university for a grant. As of now, my options are let it sit in the bank or invest it. Should I hold onto it in the bank with all this talk of a potential crash (high growth stocks are about to be on sale?) or pour it into an already succeeding high growth stock or even crypto currency.

I have little investing experience, just started paying attention to the investing world in the last 6 months and my current assets are small. Any advice is greatly appreciated!

 

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[Kak]

Make 1000 more $1000s.

It isn’t enough money to fret over. Set it aside for personal advancement. If you are hell bent on investing it, do whatever you want. Once again, it is only $1000.

If I were in your shoes... Just starting out... I would use $100 to go buy some business books, after you read the quintessential Unscripted and MFL, move on to business books from great entrepreneurs, ones you respect. Learn and understand what they went through to make it. This should get you 6-8 books.

At that point hopefully you have fostered a love for learning. You will have a much clearer answer when you get there than you have today. Then revisit the other $900.

Just service your student debt. Don’t send them more money than required. The Bolshevik government will likely rob people like me, and purchasing power from employees to wipe it out for you.

The markets normally crash when everyone is super bullish, not when everyone is talking about a crash.

 

[Knowledgefactry]

Make 1000 more $1000s.

It isn’t enough money to fret over. Set it aside for personal advancement. If you are hell bent on investing it, do whatever you want. Once again, it is only $1000.

If I were in your shoes... Just starting out... I would use $100 to go buy some business books, after you read the quintessential Unscripted and MFL, move on to business books from great entrepreneurs, ones you respect. Learn and understand what they went through to make it. This should get you 6-8 books.

At that point hopefully you have fostered a love for learning. You will have a much clearer answer when you get there than you have today. Then revisit the other $900.

Just service your student debt. Don’t send them more money than required. The Bolshevik government will likely rob people like me, and purchasing power from employees to wipe it out for you.

The markets normally crash when everyone is super bullish, not when everyone is talking about a crash.

I have read about 70 books in the past 2 years since I began. I fully understand the only way to truly know the answers to these questions are to continue to learn and experience things for myself; I just have FOMO I guess that there is an "easy" route to make my little money grow.

Thanks for the response! Appreciate the wisdom

 

[Kak]

I have read about 70 books in the past 2 years since I began. I fully understand the only way to truly know the answers to these questions are to continue to learn and experience things for myself; I just have FOMO I guess that there is an "easy" route to make my little money grow.

Thanks for the response! Appreciate the wisdom

You are very welcome.

To answer that question... No.

If there was an easy way to make a little money grow, there would be an easy way to make a medium or large amount of money grow. There is a reason why hedge fund managers have historically not done much better than just the S&P. There is a reason why low risk money is so cheap. There aren’t shortcuts.

Sometimes there are temporary bets that pay off... That is what you are seeing with the robinhood crowd. The dumb money is always, eventually, the group left holding the bag on some of the miserable choices they flippantly make.

 

[BizyDad]

I have read about 70 books in the past 2 years since I began. I fully understand the only way to truly know the answers to these questions are to continue to learn and experience things for myself; I just have FOMO I guess that there is an "easy" route to make my little money grow.

Thanks for the response! Appreciate the wisdom

There will always be opportunities to grow your $$. As you expand your knowledge, you will learn to spot them.

I am a firm believer in having your just in case fund sitting in cash. 3-6 months of expenses before you put money at risk in the markets.

I would use $100 to go buy some business books

Just starting out, get a library card. Only buy the books if you need them sitting on a shelf for reference.

 

[Knowledgefactry]

You are very welcome.

To answer that question... No.

If there was an easy way to make a little money grow, there would be an easy way to make a medium or large amount of money grow. There is a reason why hedge fund managers have historically not done much better than just the S&P. There is a reason why low risk money is so cheap. There aren’t shortcuts.

Sometimes there are temporary bets that pay off... That is what you are seeing with the robinhood crowd. The dumb money is always, eventually, the group left holding the bag on some of the miserable choices they flippantly make.

Long live Robinhood

 

[Knowledgefactry]

There will always be opportunities to grow your $$. As you expand your knowledge, you will learn to spot them.

I am a firm believer in having your just in case fund sitting in cash. 3-6 months of expenses before you put money at risk in the markets.



Just starting out, get a library card. Only buy the books if you need them sitting on a shelf for reference.

Thank you,

 

[Ernest Panfiloff]

Long live Robinhood

$GME to the moon

 

[Johnny boy]

I think anyone investing anything less than 500k in the market needs to slap themselves in the face and use that money to grow a business.

 

[Kak]

Just starting out, get a library card. Only buy the books if you need them sitting on a shelf for reference.

Public libraries are for communists.

Personal libraries are where it’s at.

 

[thechosen1]

Public are for communists.

Personal libraries are where it’s at.

Haha well we already were forced to pay for it, might as well use it :/

but yeah I like having my book collection!

 

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[Kak]

Haha well we already were forced to pay for it, might as well use it :/

but yeah I like having my book collection!

Let me paint a picture here:

I want a specific book...

“I know let me patronize my public library!”

So I drive one of my 14 MPG 4wd SUVs down to a stale old government building before I “waste” $10.

“Sir you need to wear a mask”

Under my breath: “I hate you.” I put it on. I notice a picture of Joe Biden on the wall behind her.

“Oh crap, you don’t have it... Oh You’ll have it next week? Great!”

I come back next week.

“Sir, you need to wear a mask.”

I act like I didn’t hear the bitch.

“SIR!!!! You NEED to WEAR a MASK!”

I guess I need to either act deaf or apologize now. Next time I’ll wear my AirPods.

Back to the truck to get my face diaper.

Back inside!

“Oh a fellow patron didn’t return it on time.”

Son of a bitch.

I come back the following week.

Defeated, I put my mask on with my nose out in silent defiance.

“Sir, you need to pull your mask over your nose.”

I look around for an easy way to kill myself. Nothing. Oh well. “Sure let me pull that right up for you.”

“Do you have this book?”

“What? I can’t hear you.”

“Yeah that’s because you insist on standing behind 3 layers of plexiglass and I’m wearing a face diaper.”

“What?”

I raise my voice... “DO YOU HAVE THIS (f*cking implied) BOOK?”

“Yes, right here!”

“Hooray you finally have it? Wait... What is this nasty slime on the cover? Let me go wash my hands and why don’t you wipe this thing down while I do that?”

Finally, I get it for free, I’m walking out... And I realize... It is a 600 page book and I have a week to read it or it isn’t free.

The next day I develop a severe illness, presumably the slime was the culprit. Is this covid? No! It’s meningitis. I am dead in 24 hours.

In her mourning, my wife goes to bring the book back several weeks later...

“Ma’am, you need to wear a mask”

“You’re very late on this return, that will be $11.”

f*ck. I look down from above wishing I could kill myself even though I’m already dead.

The alternative to dying inside and then literally dying:

 

[Spino]

If you have never traded markets before then investing in stocks/crypto would be the same as going to the casino and bet everything at the roulette.

What do you want to get out of the 1000$? 1100$ 5000$ 10000$? Higher rewards requires higher risk...

I agree with some of the comments before, invest in your education, have a safety fund to be able to sustain "emergencies" and also, get out of debt

 

[thechosen1]

Let me paint a picture here:

I want a specific book...

“I know let me patronize my public library!”

So I drive one of my 14 MPG 4wd SUVs down to a stale old government building before I “waste” $10.

“Sir you need to wear a mask”

Under my breath: “I hate you.” I put it on.

“Oh crap you don’t have it... Oh I’ll have it next week...

I come back next week.

“Sir, you need to wear a mask.”

I act like I didn’t hear the bitch.

“SIR!!!! You NEED to WEAR a MASK!”

f*ck, I guess I need to either act deaf or apologize now. Next time I’ll wear my AirPods.

Back to the truck to get my face diaper.

Back inside!

“Oh a fellow patron didn’t return it on time.”

Son of a bitch.

I come back the following week.

Defeated, I put my mask on with my nose out in silent defiance.

“Sir, you need to pull your mask over your nose.”

I wish I had an easy way to kill myself. Oh well. “Sure let me pull that right up for you.”

“Do you have (the name of the damn book)?”

“Yes, right here!”

“Hooray you finally have it? Wait... What is this nasty slime on the cover? Let me go wash my hands and why don’t you wipe this thing down while I do that?”

Finally, I get it for free, I’m walking out... And I realize... It is a 600 page book and I have a week to read it or it isn’t free.

The next day I develop a severe illness, presumably the slime was the culprit. Is this covid? No! It’s meningitis. I am dead in 24 hours.

In her mourning, my wife goes to bring the book back several weeks later...

“Maam, you need to wear a mask”

“You’re very late on this return, that will be $11.”

f*ck

The alternative to dying inside and then literally dying:


View attachment 36928

Lol point made!

This was perfect.

 

[Johnny boy]

Let me paint a picture here:

I want a specific book...

“I know let me patronize my public library!”

So I drive one of my 14 MPG 4wd SUVs down to a stale old government building before I “waste” $10.

“Sir you need to wear a mask”

Under my breath: “I hate you.” I put it on.

“Oh crap you don’t have it... Oh You’ll have it next week... Got it”

I come back next week.

“Sir, you need to wear a mask.”

I act like I didn’t hear the bitch.

“SIR!!!! You NEED to WEAR a MASK!”

f*ck, I guess I need to either act deaf or apologize now. Next time I’ll wear my AirPods.

Back to the truck to get my face diaper.

Back inside!

“Oh a fellow patron didn’t return it on time.”

Son of a bitch.

I come back the following week.

Defeated, I put my mask on with my nose out in silent defiance.

“Sir, you need to pull your mask over your nose.”

I wish I had an easy way to kill myself. Oh well. “Sure let me pull that right up for you.”

“Do you have (the name of the damn book)?”

“Yes, right here!”

“Hooray you finally have it? Wait... What is this nasty slime on the cover? Let me go wash my hands and why don’t you wipe this thing down while I do that?”

Finally, I get it for free, I’m walking out... And I realize... It is a 600 page book and I have a week to read it or it isn’t free.

The next day I develop a severe illness, presumably the slime was the culprit. Is this covid? No! It’s meningitis. I am dead in 24 hours.

In her mourning, my wife goes to bring the book back several weeks later...

“Maam, you need to wear a mask”

“You’re very late on this return, that will be $11.”

f*ck

The alternative to dying inside and then literally dying:


View attachment 36928

This is my favorite reply that I've seen on this entire site in the past 6 months!

 

[j0elsuf]

You're in debt.

Pay off your damn debt first.

That's what I'm doing and I'm twice as old as you and have about 10x more debt than you.

Investing is only for those who are debt free.

From what I've been seeing, it goes like this:

Raise income ---> Pay off debt ----> Invest

Do this while consistently raising your income.

 

[j0elsuf]

Let me paint a picture here:

I want a specific book...

“I know let me patronize my public library!”

So I drive one of my 14 MPG 4wd SUVs down to a stale old government building before I “waste” $10.

“Sir you need to wear a mask”

Under my breath: “I hate you.” I put it on. I notice a picture of Joe Biden on the wall behind her.

“Oh crap, you don’t have it... Oh You’ll have it next week? Great!”

I come back next week.

“Sir, you need to wear a mask.”

I act like I didn’t hear the bitch.

“SIR!!!! You NEED to WEAR a MASK!”

I guess I need to either act deaf or apologize now. Next time I’ll wear my AirPods.

Back to the truck to get my face diaper.

Back inside!

“Oh a fellow patron didn’t return it on time.”

Son of a bitch.

I come back the following week.

Defeated, I put my mask on with my nose out in silent defiance.

“Sir, you need to pull your mask over your nose.”

I look around for an easy way to kill myself. Nothing. Oh well. “Sure let me pull that right up for you.”

“Do you have this book?”

“What? I can’t hear you.”

“Yeah that’s because you insist on standing behind 3 layers of plexiglass and I’m wearing a face diaper.”

“What?”

I raise my voice... “DO YOU HAVE THIS (f*cking implied) BOOK?”

“Yes, right here!”

“Hooray you finally have it? Wait... What is this nasty slime on the cover? Let me go wash my hands and why don’t you wipe this thing down while I do that?”

Finally, I get it for free, I’m walking out... And I realize... It is a 600 page book and I have a week to read it or it isn’t free.

The next day I develop a severe illness, presumably the slime was the culprit. Is this covid? No! It’s meningitis. I am dead in 24 hours.

In her mourning, my wife goes to bring the book back several weeks later...

“Ma’am, you need to wear a mask”

“You’re very late on this return, that will be $11.”

f*ck. I look down from above wishing I could kill myself even though I’m already dead.

The alternative to dying inside and then literally dying:


View attachment 36928

LMAO wow.

I do agree, the concept of public libraries is a joke. Most public stuff is a joke.

I mean the concept of public facilities are well-intentioned, but when something is well-intentioned, that usually means it sucks HARD in execution.

Although your raging against the face covers is pretty cringey, I'm no better. I think seat belts should be permanently removed from all vehicles. There are a lot of "safety precautions" that should be straight up optional.

 

[Simon Angel]

think seat belts should be permanently removed from all vehicles. There are a lot of "safety precautions" that should be straight up optional.

I suppose you prefer flying out of the windshield or banging your head against the roof then?

 

[100k]

If your a man of culture like me, then buy $AMC stonks and HDOL until March 4 / March 5th (next Thursday/Friday) that's when they release their earnings report and the STONK will go to the MOOOOoooOOOOoon.

If my emojis and the image below doesn't convince you to go all in, then you're not a man of culture after all.

P.s this is not financial advice and I'm not a financial advisor, I just happen to have a smooth brain and I like the stonk, because STONKS ONLY GO UP.

 

[Raoul Duke]

If your a man of culture like me, then buy $AMC stonks and HDOL until March 4 / March 5th (next Thursday/Friday) that's when they release their earnings report and the STONK will go to the MOOOOoooOOOOoon.

If my emojis and the image below doesn't convince you to go all in, then you're not a man of culture after all.

P.s this is not financial advice and I'm not a financial advisor, I just happen to have a smooth brain and I like the stonk, because STONKS ONLY GO UP.

He'll only get 130 shares... mooooooon!

 

[Freddy270291]

Also, don't underestimate the free/cheap knowledge that is on the web. Youtube and Udemy are unvaluable resources, take advantage of them.

 

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[100k]

He'll only get 130 shares... mooooooon!

Yeah, that's if he plays it safe.

He could also buy 9 ATM call options expiring on March 5th for $1.21 per share... giving him control of 900 shares.

AMC - Amc Entertainment Holdings Stock Options Prices - Barchart.com

Stocks Option prices for Amc Entertainment Holdings Inc with option quotes and option chains.

www.barchart.com

YOLO BABY.... this is not financial advice. Do whatever you like OP.

 

[Raoul Duke]

Let me paint a picture here:

I want a specific book...

“I know let me patronize my public library!”

So I drive one of my 14 MPG 4wd SUVs down to a stale old government building before I “waste” $10.

“Sir you need to wear a mask”

Under my breath: “I hate you.” I put it on. I notice a picture of Joe Biden on the wall behind her.

“Oh crap, you don’t have it... Oh You’ll have it next week? Great!”

I come back next week.

“Sir, you need to wear a mask.”

I act like I didn’t hear the bitch.

“SIR!!!! You NEED to WEAR a MASK!”

I guess I need to either act deaf or apologize now. Next time I’ll wear my AirPods.

Back to the truck to get my face diaper.

Back inside!

“Oh a fellow patron didn’t return it on time.”

Son of a bitch.

I come back the following week.

Defeated, I put my mask on with my nose out in silent defiance.

“Sir, you need to pull your mask over your nose.”

I look around for an easy way to kill myself. Nothing. Oh well. “Sure let me pull that right up for you.”

“Do you have this book?”

“What? I can’t hear you.”

“Yeah that’s because you insist on standing behind 3 layers of plexiglass and I’m wearing a face diaper.”

“What?”

I raise my voice... “DO YOU HAVE THIS (f*cking implied) BOOK?”

“Yes, right here!”

“Hooray you finally have it? Wait... What is this nasty slime on the cover? Let me go wash my hands and why don’t you wipe this thing down while I do that?”

Finally, I get it for free, I’m walking out... And I realize... It is a 600 page book and I have a week to read it or it isn’t free.

The next day I develop a severe illness, presumably the slime was the culprit. Is this covid? No! It’s meningitis. I am dead in 24 hours.

In her mourning, my wife goes to bring the book back several weeks later...

“Ma’am, you need to wear a mask”

“You’re very late on this return, that will be $11.”

f*ck. I look down from above wishing I could kill myself even though I’m already dead.

The alternative to dying inside and then literally dying:


View attachment 36928

Kindle or Kobo. Whichever poison you prefer. AND a library card.

No need to walk in. No need for a face diaper. Log on to your Digital Library.

My state encompasses every city. Arkansas Digital Library Consortium - OverDrive

Texas has several. So, I am not sure if your local library would work in South Texas or et cetera et cetera.

For Example:

Sam Walton ebook

1. Sam Walton
2. Sam Walton

I have SAVED tons of $$$ on books. If I like the book. Of course I'll purchase it. If I hate it. I get rid of it.

The only bad thing though. That Sam Walton ebook is 1 of 1. That is all the library has. So, if it is checked out or another person has it on hold. You would be waiting months.

 

[sparechange]

Let me paint a picture here:

I want a specific book...

“I know let me patronize my public library!”

So I drive one of my 14 MPG 4wd SUVs down to a stale old government building before I “waste” $10.

“Sir you need to wear a mask”

Under my breath: “I hate you.” I put it on. I notice a picture of Joe Biden on the wall behind her.

“Oh crap, you don’t have it... Oh You’ll have it next week? Great!”

I come back next week.

“Sir, you need to wear a mask.”

I act like I didn’t hear the bitch.

“SIR!!!! You NEED to WEAR a MASK!”

I guess I need to either act deaf or apologize now. Next time I’ll wear my AirPods.

Back to the truck to get my face diaper.

Back inside!

“Oh a fellow patron didn’t return it on time.”

Son of a bitch.

I come back the following week.

Defeated, I put my mask on with my nose out in silent defiance.

“Sir, you need to pull your mask over your nose.”

I look around for an easy way to kill myself. Nothing. Oh well. “Sure let me pull that right up for you.”

“Do you have this book?”

“What? I can’t hear you.”

“Yeah that’s because you insist on standing behind 3 layers of plexiglass and I’m wearing a face diaper.”

“What?”

I raise my voice... “DO YOU HAVE THIS (f*cking implied) BOOK?”

“Yes, right here!”

“Hooray you finally have it? Wait... What is this nasty slime on the cover? Let me go wash my hands and why don’t you wipe this thing down while I do that?”

Finally, I get it for free, I’m walking out... And I realize... It is a 600 page book and I have a week to read it or it isn’t free.

The next day I develop a severe illness, presumably the slime was the culprit. Is this covid? No! It’s meningitis. I am dead in 24 hours.

In her mourning, my wife goes to bring the book back several weeks later...

“Ma’am, you need to wear a mask”

“You’re very late on this return, that will be $11.”

f*ck. I look down from above wishing I could kill myself even though I’m already dead.

The alternative to dying inside and then literally dying:


View attachment 36928

Kak novels, where do I paypal the money?

True story, I went to look for TMF in audio at the book store, while back it was in the store and didn't buy it at the time (went again) and helped myself to the computer to search for it, no joke a MAN in a dress with makeup that was 1 foot taller than me was saying to visit the front desk...

Ya know, the don't assume my gender but I'm a 6 foot+ man with broad shoulders wearing a wig and heels

 

[mdot]

Let me paint a picture here...

An alternative picture:

I want a book with a list price of $60 (I'd say that's a more fair price for a 600pg in my experience). Some textbooks are hundreds of dollars.

I check the book availability on my phone. If they don't have it I request it from that or another library in the system. I wait a few days and am notified when it's come in.

I drive my 14MPG SUV to the stale government building (which if it were more modern or fancier, some would complain their taxes were wasted on making the building nicer!).

I put on the cloth mask I bought from Amazon for $10, which is reusable, way softer, more breathable and comfortable than the disposable ones. Regardless of my views on the effectiveness of masks or my thoughts of the risks of COVID, I put it on anyway as a pro-social gesture to those who absolutely are scared or uncomfortable being around unmasked people, without casting judgement on them.

I get my book. While I'm there I have a chance to skim through many other related books. Perhaps I find one or more others that have information I need. A human being at the front desk helps me check out. The books are probably sanitized on their way in and out of the library.

If I'm not finished with my book I extend my loan from my phone.

---

If I'm fairly certain about the book and it seems like it's on hold indefinitely or not at the library, I'll buy it.
If I like the book enough that I need more time with it after a week, I'll probably end up buying.
If I find the book valuable enough that I want it always as a reference, I'll buy it.

My 2c.

 

[Kak]

An alternative picture:

I want a book with a list price of $60 (I'd say that's a more fair price for a 600pg in my experience). Some textbooks are hundreds of dollars.

I check the book availability on my phone. If they don't have it I request it from that or another library in the system. I wait a few days and am notified when it's come in.

I drive my 14MPG SUV to the stale government building (which if it were more modern or fancier, some would complain their taxes were wasted on making the building nicer!).

I put on the cloth mask I bought from Amazon for $10, which is reusable, way softer, more breathable and comfortable than the disposable ones. Regardless of my views on the effectiveness of masks or my thoughts of the risks of COVID, I put it on anyway as a pro-social gesture to those who absolutely are scared or uncomfortable being around unmasked people, without casting judgement on them.

I get my book. While I'm there I have a chance to skim through many other related books. Perhaps I find one or more others that have information I need. A human being at the front desk helps me check out. The books are probably sanitized on their way in and out of the library.

If I'm not finished with my book I extend my loan from my phone.

---

If I'm fairly certain about the book and it seems like it's on hold indefinitely or not at the library, I'll buy it.
If I like the book enough that I need more time with it after a week, I'll probably end up buying.
If I find the book valuable enough that I want it always as a reference, I'll buy it.

My 2c.

But how do you avoid meningitis?

 

[ljean]

I check out a lot of library eBooks on my Kindle.

 

[mdot]

But how do you avoid meningitis?

Universal Healthcare? lol

 

[BizyDad]

I check out a lot of library eBooks on my Kindle.

Ergo: Auto renewals and no late fees.

Kak's story was so behind the times, the government was actually ahead of him on this one. Not often you see that.

Here's the thing. The library has an incredible value offering. Free books, movies, audiobooks, music, a lot of which is available virtually.

Sure, the future billionaire believes everyone should line their walls with books. I respect that. (Calling a hypothetical librarian a bitch for doing her job, I respect that a lot less.)

For me, I hate spending money on a bad book or a bad meal. That's why I tend to order things that I know I like on menus, and why I try to at least get a sampling of a book before I spend money on it. Just because the book has good reviews, or it was recommended to me, doesn't mean I'm going to enjoy it.



Sure, sometimes I break these habits, and sometimes I'm pleasantly surprised. But usually not.

I love the personal library comment. I just bought two more bookshelves for my walls. But I guess I just take an extra step in making sure that the books that come into my home are quality.

For those starting out, library is way more affordable. Build the ginormous library wing of your home once you've made it.

Lastly, bravo on the thread hijack. I bet no one saw this coming...

 

[Kevin88660]

I work part time and make enough money to pay my rent and necessities, but will not be making enough to save until months in the future.

What is stopping you from making enough to save months into the future?

Once you have more financial cushions you can invest in your own business idea. While it doesn't have to be expensive it certain needs some money.