I Just got $1K as a 15year old

[Tankkeepers]

Good luck and hope all your future endeavors go fantastic

 

[Weasel1960]

Congrats. Investing is wise but so is rewarding yourself for your efforts. Spend it wisely on something that will make you happy.

 

[Dark_Knightt]

Another risky investment but likly to pay off in the energy game is nuclear fuel and solar and wind by the time your my age we will be out of or close to out of fossil fuels making them a premium

Thats the good thing with the company NRG though. They produce and sell electricity generated from coal and fossil fuels, as well as from uranium, wind and solar. So either way they are making energy.

 

[Tankkeepers]

Thats the good thing with the company NRG though. They produce and sell electricity generated from coal and fossil fuels, as well as from uranium, wind and solar. So either way they are making energy.

And prepared to expand in any direction as one type dies off best kind of investment right there a company prepared for just about anything that might come

 

[Clownfish_Boy]

I would just hang on to what your not gonna invest and when you see that coral you must have then buy it!

Very wise advice.... When you have the hots for something it is best to just wait a while; that way you don't buy merely on impulse.

 

[Clownfish_Boy]

I see your setup doesn't have a skimmer, Dark Knightt; you could put some of that $500 into a good Reef Octopus or Aqua Maxx HOB skimmer. Guaranteed to give you crystal clear water !

 

[Velcro]

I'd take that 1k and buy myself some new grandparents that know how to use a calculator

 

[MnFish1]

Another risky investment but likly to pay off in the energy game is nuclear fuel and solar and wind by the time your my age we will be out of or close to out of fossil fuels making them a premium

Or try PLUG - at 13 - its probably cheap =- hydrogen fuel. buy 30 shares - and put it away lol. I'm not. a financial advisor

 

[ZoWhat]

I personally At your age would buy my FIRST CAR

Are you crazy? Lol

Your 1st car needs to be a Honda Civic with 300k miles on it that you bought for $2k

Cars are consumable commodities. Use 'em and junk 'em.

Every single car DEPRECIATES 15-25% every year you own it.

Go talk to 24yr olds guys who go buy a $30k brand new truck and in 5 yrs they are shocked its worth $3,000. They lost $27,000 in 5yrs driving a nice truck. What did a nice truck get you? Nothing but a ride from point a to point b... that totally wasted your money

Never buy new, always buy at BEST off a 3yr lease. You'll have a really nice house and nice things if you unbrainwash your desire to drive nice new cars.

Cars are money pits. You have plenty if time to enjoy nice cars when you're in your 50s and 60s where depreciation isn't that big of a deal with a solid financial standing....which works bc your good looks will be gone at 60 but you'll have a really nice car. Lololololololololol


.

 

[Dark_Knightt]

Are you crazy? Lol

Your 1st car needs to be a Honda Civic with 300k miles on it that you bought for $2k

Cars are consumable commodities. Use 'em and junk 'em.

Every single car DEPRECIATES 15-25% every year you own it.

Go talk to 24yr olds guys who go buy a $30k brand new truck and in 5 yrs they are shocked its worth $3,000. They lost $27,000 in 5yrs driving a nice truck. What did a nice truck get you? Nothing but a ride from point a to point b... that totally wasted your money

Never buy new, always buy at BEST off a 3yr lease. You'll have a really nice house and nice things if you unbrainwash your desire to drive nice new cars.

Cars are money pits. You have plenty if time to enjoy nice cars when you're in your 50s and 60s where depreciation isn't that big of a deal with a solid financial standing....which works bc your good looks will be gone at 60 but you'll have a really nice car. Lololololololololol


.

Ive had that exact mentalit for a few years now lol. Drive an old car, save money. Live in a smaller home, save money. Then when Im older I can retire or if I make lots of money I can enjoy life a lil bit.

 

[Sm51498]

Consider the future value of that money. 1000 dollars today invested in an S&P500 index fund (dividends reinvested) with an average rate of return would be 128000 dollars when you are 65 which at an average inflation rate is like 103,000 dollars in today's money. Time and compound interest are your best friends and nothing is more valuable or more powerful than that pair. I wish I learned this lesson when I was younger. imagine if you invest 1000 dollars a year into a retirement account holding just the S&P500 index from now on until you are 65. Just from that you'll likely have 1.3 million in your account and you'll have a whole lot more if you increase that amount as the years continue. Trust me when I say 1000 dollars a year is *nothing* in the long run. you have a *golden* opportunity at your age. Don't squander it like I did. I now have to invest 20% of my income just to catch up.

Trying to buy specific equities with a 50 year time horizon is a futile exercise. Maybe you win, maybe you don't. Buy an index fund of quality companies (S&P500) and don't look back.

 

[DiaTom]

You could use all that to help start a business (landscape, painting, etc) for yourself or you could save it all toward a car. That's a good chunk of change to have all at once - see if you can make it work for you.

 

[Mr_Knightley]

Impressive man! I'm of a close age to you and get almost all of my money from trade ins, helping my parents with dogs and doing intense yard work. Anything helps for me lol
Also, you are brilliant to invest that half! Most other guys my age just blow their money instantly, but saving and investing is half the point of having money in the first place lol

 

[OrionN]

Don't spend the 1000.00 on something that require maintenance. Definitely don't spend it on a reef tank.
Reefing is really for people that have a steady income since it take a lot of money to keep a reef tank running.

 

[Mikeht11]

I'd take that 1k and buy myself some new grandparents that know how to use a calculator

Pretty sure they didn’t make 1 million profit..... not as clever as you thought, huh?

 

[Dark_Knightt]

Impressive man! I'm of a close age to you and get almost all of my money from trade ins, helping my parents with dogs and doing intense yard work. Anything helps for me lol
Also, you are brilliant to invest that half! Most other guys my age just blow their money instantly, but saving and investing is half the point of having money in the first place lol

Yeah most people about our age spending it all on Supreme hats and stickers XDD

 

[Velcro]

Pretty sure they didn’t make 1 million profit..... not as clever as you thought, huh?

Did I say $10,000 was what the money should have been? Nope. But assuming 1% of the profit is 1,000, which correlates to a 100k profit, I'm trying to understand how 4 years worth of work is worth a 100k profit.

 

[Mikeht11]

Did I say $10,000 was what the money should have been? Nope. But assuming 1% of the profit is 1,000, which correlates to a 100k profit, I'm trying to understand how 4 years worth of work is worth a 100k profit.

Well considering it’s his grandparents, maybe they have just been doing the work as they go about their everyday life and not using it as needed income. Some people as they get older just find themselves something to keep them busy and if they make some money in the process it’s a bonus.

 

[sp1187]

4 years of work/$1000?
I think child labor laws was broken.

 

[sp1187]

I just did a search for Mono, Ontario.
what a beautiful place to live.