Quote:
Originally Posted by tankerkit
since you all talking about stocks, i need some advice, i would like to start investing but I what can I do with a few hundred dollars ?
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ETFs
expect single digit % returns a year
no get rich quick schemes here
slow and steady wins the race
just keep adding every month
after a few years when you learn more about investing, can store cash every month and wait for crisis period to dump all the cash in at 1 go for enter at good price. Then watch the returns compound itself over years.
Example:
you bought at ETF at price $100. 1st yr return = 5%. Year end price = $105
next year it returned 7%. year 2 end price = $105+ $7 = $112? NO!
Its $105 + ($105 x 7%) = $112.35
As the years go up, the compounding goes up.
Remember that time is on your side if you are young.
Do not trade on margins, it'll bankrupt you once you lose big.
want get rich quick?
try sg pools, crypto, scam stocks that price at $0.001. be prepared to lose every single cent too.
If really got a few hundreds only, suggest better to keep it as emergency funds to avoid debt. The returns are too low to be meaningful. Save up consistently every month first. Getting into debt is more of a danger for you. Move into investing when you have saved up at least $10k cash