I am a poorfag who was raised a poorfag and I just received my 1200 dollar check and I am looking for advice on how to use that money wisely. So what should I do with it, invest, save...how do I use this opportunity to break the cycle of poverty?
Poorfag who got his Trumpbux
Jordan Rogers
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Matthew Flores
Not American but interesting thread
Colton Lopez
Don't bother.
Lincoln Wright
You can invest in almost literally anything right now and it will at least 2x in 4 to 6 months.
Look at what dropped significantly in price. Don't buy penny stocks or companies on the verge of bankruptcy.
Jose Sanchez
Sorry if it is a dumb question. But what is a penny stock? I have no shame in admitting my financial naivety, I have worked a 9-5 for years and have not gotten anywhere other than just existing on the verge of absolute poverty. I just don't want to live like that anymore.
Andrew Brooks
Just all in in UAL, i'm serious.
Hold it for 5 to 8 months, don't get too greedy.
It will 2x, potentially 4x. Just do it, don't ask questions, delete your fucking brokerage app and don't look at it for a long time. Thank me later.
Isaiah Bailey
I'm about to transfer $2,500 to my Robinhood. Never have traded in my life but seems like a sound investment. UAL looks low but doesn't seem like it will go under nor would the government allow it to. Thoughts?
Dominic Jones
Serious reply, friendo. Use the cash to pay off your expenses, and throw the rest in your rainy day fund.
You're not going to retire early off a small investment. You really need to get to at least 25k in money you can afford to lose before you consider investing. A penny stock is a general derogatory term for any stock trading between a penny and a few bucks. They're considered riskier than large caps, and can be de-listed from the exchange if the share price gets too low.
Good as an occasional side bet maybe with free money from dividends, but don't ever put a big piece of your stack into one.
Christopher Fisher
Buy Chainlink. You can afford at least a 300 linklet stack for 1k. Then never sell
Alexander Williams
So say I follow your advice. How long should I wait before checking in on the investment? Let's say it doubles in value do I take half and invest in something else or just sit on what I have and use money earned over time to invest in other things?