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?
Leo Gutierrez
It's not gonna go down. In the worst case scenario it will still be around $25 in less than a year time but that's highly unlikely.
If you don't know what else to invest in go ahead and do it, i don't see a better stock that isn't volatile for long term. Don't gamble on crypto. Only 1 of 40 shilled cryptos actually mooned, the rest is history.
Brayden Anderson
Thank you for the reply. I understand that a large amount is required to really get started in investments and I will avoid penny stocks like the plague, but I see this 1200 as "free money" that I can use to start and maybe build something to turn my life around. Not looking to retire and 40 or anything but I this as an opportunity to start building a better life, even if it's only a mild improvement.
Zachary Cox
I just put $1k in UAL and might dump the rest of my funds (1.5k) when the transfer completes. Thanks for the advice. If I lose the money I wouldn't care but I don't see it going anywhere other than up. Hopefully my 2.5k will be closer to 10k in 6-12 months.
Ayden Baker
if you want to invest it, unironically buy LINK. if you want to break the cycle of poverty, there may be more immediate ways you can use $1,200 to do that. get creative, only you can know what would best suit you in your situation. what opportunities are available to you, or WOULD be available if you had $1,200 to put towards it? do you need a new set of clothes to look the part for a new job? do you want to spend one tenth of it on books to increase your financial literacy? figure out what's lacking from your life right now, and then think about what you can do to address that. then, and this is the most important step, actually fucking do it. money is potentiality, it's power, so don't squander it
Jeremiah Roberts
I will genuinely consider what you have said. Maybe investments are not what I need right now, I am only 32, married with no kids so I have the flexibility to take on potential risks, such as a career change. Thank you for your advice.
Kevin Adams
Just dump it into a blue chip and get some dividends going with low risk.
Evan Allen
Don't listen to these niggas, of you are going in on airlines buy DAL. XOM if you are going oil, maybe MRO. Also you are an ignorant poorfag so don't go all in on anything. Buy at least 3 stocks you are confident in. Always check the financials or look up what some way smarter guy has had to say about them. You don't want to accidentally buy a company that's going under.
Lincoln Turner
in 2017 i put 2,500 into link
im also 30 working as a dishwasher
now that $2,500 is about 54,000 USD.
make a coinbase, transer 1,200 and buy link. a couple hundred linkies is better than nothing.
that 1,200 can become 600 in a few months. but who cares. there were times my 2,500 became like 600 bucks
Colton Flores
Buy silver and sell it when it actually decides to go up.
Nicholas Jenkins
chainlinks
Asher Howard
Theres so many stackers that could actually make money on their stack right now because the price for physical coins is insane - why aren't they?
Oliver Carter
You are correct that I am an ignorant poorfag, no shame, just the absolute truth. I appreciate all the advice I have received, honestly thought I would have been called a fag then ignored lol. But A lot of what I have received has really made me think. I am starting to see what should have been obvious....that the problem is me, but at least that I a problem I can fix. I will look into what you suggested and Google me up some more information. I have a pen and pad, writing all this down.
Kayden Bell
Unironically, ignore everything you hear about "stock" vs "crypto" vs "metal." The method by which you own something isn't relevant to its value.
If you don't plan on spending time here every day for a couple years, to develop your social sense about who's serious, who's lieing, and who's pretending to lie, do NOT make trades. Buy and hold. Add to your stack, don't fuck with it. Here be dragons.
This is how you break the cycle: own it. Put everything you make that you aren't spending on life into investments. Don't touch them. Don't look at them. Just do you work, fuck your bitch, and play with the boys. One day you'll get fucked, and you'll have to go look for something to sell off. All of a sudden, out of the blue, that $100 you had extra one month years ago is worth $10,000 and you're not fucked any more.
No one gets rich chasing dreams. They get rich enjoying what they have.
Gavin Ortiz
FANG.
Hunter Johnson
2/2 Buy link. Don't miss the singularity.
Charles Parker
I have been a dishwasher many times in my teens-20's. It's frustrating only in so far as I have seen many companies with all the tools for success pissed away by incompentent management and ownership, which made me jaded towards business and not really give any thought towards my own. I will look into Link and get. Better grasp on what I am dealing with. But I hope to have at least half your success if I take that route. Honestly, thank you for your reply, really gave me a lot to think about.
Noah Martin
Based and Bloomer-pilled
Ased and redpilled
Jace Murphy
>tools for success pissed away by incompentent management and ownership
Lol get used to it.
Michael Gomez
Ayden Watson
Thank you, I do not expect my life to change overnight and I will frequent this board often... knowledge for its own sake. For the number of times I have been told to buy Link it is pretty much certain that I will go that route, if not today then asap. I am glad I started this thread, i have already learned a lot. I was confused on what to do with investments once you have them but the scene you described makes a lot of sense. I appreciate you taking the time to offer your advice.
Jaxson Nelson
You've pointed out a good bit of philosophy :D
As it's pointed out in "Rich Dad, Poor Dad," you're taking the time to learn what you need... not to lift yourself to riches (only vaguely plausible,) but to guarantee that what you teach your children will keep them out of the slums.
t. a diehard bull
Logan Bennett
If you're gunna stick around, I think the best thing to keep in mind socially is survivor's bias. You only hear opinions from the people who're still here, and there are different reasons for that.
Bulls got where they are by consistently accepting opportunity losses in exchange for long term security. They do better on average than bears, because they're basically betting that humanity by and large will improve things, and that's a very safe bet. Nothing really filters them though - it's just a herd of idiots meandering in the correct direction.
Bears don't do as well on average, but they tend to win big gainz or literally lose everything. You hear more often from bears who got lucky, because the ones who don't are the guys who literally neck themselves.
We're all fucking liars and thieves, we just have different reasons for saying what we do.
Blake Morgan
Just keep the $1200 in your emergency fund. You sound like one of those Americans that would die if a $400 bill suddenly popped up.