What should a 18 year old to do ensure he's not dirt poor?

Of course it is going to happen. No one knows exactly when, it could be tomorrow it could be years from now.

See pic attatched though, and tell me why investing in stocks is risky.

People must also remember if you aren't doing this over a long term (10 years atleast), it's not investing.

Look into motivated money by peter thornhill. That one has helped me and my old man alot.
Although we both have bachelor/master in commerce.

Do you have any idea how depressing it is to see your portfolio go down during a crash?

Will do, thanks bud.

No I don't. You should not check your portfolio during a crash, if you are invested in good companies, it is impossible that they won't go back to where they were.

History doesn't lie. People just need to change the way they look at charts/graphs

would you guys say weed stocks are profitable?
and i heard that lithium going to have a run too

U open a shareholder type account, something that lets u buy tract shares.

Take 10-20% of every dollar you ever want and put it in the market and never ever take it out of fail to put in.

You will be rich. Please just do this. Starting at 18 you will be set by your 30's.

Yes, weed is profitable. But the question of which company to invest in is still an issue because most of these weed companies haven't had the time to prove that they're well run.

organalabs.com/
Organa's well run. The CEO gets up at 7 and the workers aren't lazy stoners.

vapenclear.com/
Vapen clear has the THC inhaler, which is the future of THC consumption. It's the quickest, easiest, stealthiest, most accurate dosing method.

aeroinhaler.com/
Aeroinhaler does this as well.

IDK if these guys are even public I just know about them from research.

thx for this little spoonfeeding, will do more research, but im really unsure if weed stocks gonna be worth it

Can I keep putting in more and more money into my shareholder account?

conventional investments will not make you money unless you're already financially secure, so i wouldn't worry about that at 18
being so young, if you start learning how to provide extremely focused value you'll have an edge over your peers focused on being jacks of all trades and masters of none. stop thinking about what society can do for you, but about what can you do for someone else better than what anyone else could
this doesn't have to be on a worldwide level, i.e. if there's no plumber in a 10 miles radius and you pick up that trade and do it well, that makes you the most important person in that very specific sector
do not watch news, there is nothing to learn from epidermic reaction to events. dumb men discuss people, average men discuss events, great men discuss ideas

Is 100-200k euros enough to make it by investing in the stock market? I live in eastern europe so I dont need to make that much money

>Can I keep putting in more and more money into my shareholder account?

Yes, that is exactly the point, you continue to add, dogmatically, always. Every paycheck, every birthday envelope with cash in it, etc...you deposit a set percentage into your investment account and buy assets.

you should read Investing Demystified by Lars Kroijer

That book teaches you the basics of investing- stocks, bonds, real estate and a bit on precious metals if I remember correctly, at a beginner level

I will read it, thank you.

and a US stock crash would bring about a global recession, so yes it would

Okay so is the US market the most important out there?

any major market crash has a ripple effect on the global market, but definitely the US market is the big issue. take a look at how other markets went when the U.S. was dealing with the housing/mortgage/banking bubble on its own (which, arguably, has nothing to do with other markets at face value). we're not necessarily looking at a depression, potentially a recession soon, but if you're not investing for the future potential and expecting to get rich in a week, you're not cut out for this line of work

People asking for stock advice are idiots. There is no advice to get, you put your money you have that's investable into an index fund as soon as you can. This is a 40 year investment, dont try to time the market, you aren't fucking day trading. Time is the biggest factor in investing, getting your money in 10 years sooner is the difference between possibly 1 million and 3 million when you go to retire. My only advice, any money you have to spare, invest into index funds and leave it the fuck alone.

c- could someone answer me pls

arguably yes, but as the user above me said, markets have a ripple effect- look up 1987 Black monday crash, began in Hong Kong ( another crucial market), and spread all over the world.

Hell, look at the recent DOW JONES crash 2 weeks ago. The day after it crashed, the Nikkei ( Japan stock exchange) and the Shanghai stock exchange tanked hard the next day

If you can't do simple math to figure that out yourself, then no, you have no hope of making it.

what are you saying? your starting capital is 100k-200k? if so you could turn that into millions over a 20 year period via the stock market.

If you are asking about your target being 100-200k, you will need to reinvest if you want income for life

Also, "make it" is subjective- some can live happily on a lower salary, some cant. What sort of lifestyle do you want?

My goal would be to be able to make a living out of it but still leave a part of the earning so i could have a good retirement. I would be fine with 1-2k a month
Do you think thats realistic?

I think one is coming too in the next 10 years or so, but

time in the market > timing the market

isn't just a meme. Just have some savings put aside for the crash and invest more low

You expect 12-24k return on investment consistantly on 100-200k? Wtf are you retarded? You can expect to safely get 3-5% in a safe investment, which is only 3-5k or 6-10k a year depending on your 100-200k range. Also a portion of that has to be reinvested back into your nest egg to protect against inflation. So no, you wont make it, not even close.

fuck this third world country wagecucking life. Currently looking for jobs, hard as fuck to get one, when you finally do salaries offered are around 400usd and they request years of experience. That's not even enough money to live,desu wtf. REEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE

you havent fucked yourself over with the degree user, it'll give you a cushion of time you need to find a system to make money that works for you, for most of us it's crypto, i'm a compsci student and I spend more time trading than actually doing my course, hope to drop out next year on these gains and go crazy, who's to say you can't do the same?

>Yes, that is exactly the point, you continue to add, dogmatically, always. Every paycheck, every birthday envelope with cash in it, etc...you deposit a set percentage into your investment account and buy assets.

The thing is user, what you need to understand WAY before any technical aspect of investing, asset classes, all that other shit is this.

Being rich is a mind game way more than a technical game.

Starting at 18, if you can religiously pay yourself 10-20% of every dollar that comes your way, the odds of you being successful and having a nice pile of money 15-20 years down the road are very very good.

This journey is self fueling, at first it will be like pffttt, this is stupid, I am getting nowhere, but 5 years in it will start looking significant, that growth feeds back into the head game of trying to protect and make the pile bigger, maybe you increase your cut to investments by 5%, who knows, but you NEVER stop adding, whether its every money, every week, whatever, and you NEVER take out.

This is 100% a head game and it is you against yourself.

if you're talking traditional asset classes, like stocks and bonds, be it through index/mutual funds or in shares, that is not realistic in the slightest. the stock market isn't like crypto moon missions. if you invested 1-2k a month into a mutual or index, hell, even an IRA, you could be rolling in big bucks in many years time, which, at your age, should be what you're looking for.

I know everyone wants to make it rich quick, but this isn't the game for that, traditional assets shed much of the risk involved for more stable gains/losses, which still doesn't even mitigate certain things (the crash last few weeks sent my funds into a dividend tailspin). if you want to potentially lose all your money or make it rich in a years time, gamble with crypto. if you're trying to invest money in the hopes that 25 years down the line, you should turn to traditional. buy in and forget about it, you'll thank yourself.

>buy in 1998
>wait 8 years
>break even
Fuck that lol.

Start learning to code. Do practice interviews and find a way to spin a criminology degree as relevant to software development and make yourself not look like a spaz who makes $30k decisions based on a whim.
Yea you fucked yourself "studying what you're interested in" but you can dig yourself out if you stop making stupid decisions now.
>t. Software dev with a philosophy degree at your income target

>buying index funds and not holding for the majority of your life
I'm gonna get shit for this, but I think the last thing you should sell in your portfolios are exchange tracking index funds. I've been sitting on S&P indices for a few years now and I don't see any benefit in reinvesting those dividends elsewhere. Once you open one, all you have to do is regularly contribute (even automatically through bank transfers and the sort) and set dividends to reinvest back into the fund and you have a free money making machine if you just hold on and live your life

Start a company and shelf it.
Learn handyman trades.
Buy a fixer duplex.
Buy another rental.
Move out of duplex and buy fixer single family house. Fix and sell, you'll have to live there for a year and a day, then profits are tax free. Take those profits and buy another fixer house ... rinse and repeat until you don't have a mortgage.
It helps if you get a real estate license.
This really only works when you're young and single, your wife won't want to move every 2 years.

Then just buy rentals until you can buy apartments.

Then retire to Fiji at 40. You're welcome.

The problem is if crypto will still be huge like it was last year and it is right now, gonna have to wait and see desu.

Do you think they'd let me work with software and shit like that in the UK without a degree? I mean worst case is I just move to US and become a software dev.

Doesn't sound too bad desu.

Nigger, just finish your degree, it wasn't that hard.

user is right OP, Comp Sci degree. Focus on machine learning. Building AI will secure you a career in a field that will run the planet by 2040.

If you demonstrate that you can do the work (GitHub portfolio, pseudocode tests during interview), and can communicate ideas effectively, then yea you'll get hired.

Nice, might learn code then. Like python or some shit.

I mean if I switch from criminology to comp sci now there's just no chance I can keep up with the other students, I only talked and trolled around in my IT and science classes so I'm fucked.

you think 80k a year would make you happy/feel advance, but once you hit that milestone and still broke you'll be in the same depression state as you are now

I'm not really depressed, just wanna make sure I have at least some cash once I'm a bit older.

I plan on living in a one room apartment, live cheap with those 80k and slowly build a business up or just put the money into whatever that can make me profit.

80k is way better than 25k per year.

>Moved to US, become Dev

That's a terrible idea, you'll get wagecucked into a crater. US companies for the most part treat devs worse than this board treats black people and Jews.

Lmao really? How come everyone is going into that career option?

If you're in the UK, get an ISA with Iweb. Put money every month into a vanguard retirement fund which pays out.

If you start saving more than 20k a year, then start putting money into a vanguard retirement fund which accumlates. This is important because capital gains tax is lower than income tax - and dividends are income.

The important thing is never to cash out your funds. Keep doing that for a few decades and you're set.

When you've got over a 100k, you can think about picking stocks (low P/E I think is a decent strategy). Make sure you've never exposed to one stock too much. No stock should be more than 5% of your portfolio.

A great book to read is a random walk down wall street. Has an accessible introduction to modern finance like CAPM and MPT.

>7924559
Its easy to learn, easy on the body and can be fun. But there are too many people doing it. /smart/ wagies build up a blue collar trade business. You dont need to be einstein for it, just have some work ethics at first. Once its established, youre set.

dAmn thank you, sounds like good advice tbqh. Gonna read up on it and read the book too.

Fair enough makes sense