The clout diaries: got some money but where to invest it?!
 

Hello my ncgs as i sit my high yellow beige toosh on this ivory throne. Where im gonna poop from and take a gander at the nice paint job maintenance did on this stall door. I saved up quite a bit of money. "Oh Ladrayce how did you manage such a spectacular feat?!?!" U ask ... well i work hard my friends while being a full time student.

So where do i invest this lump some of cash? IRA, @Aeros dignity, @Blue Bayou future AA meetings, penny stocks? @Sharp future steroid cycles to bulk up or finnys go fund me page. so yea feel free to help me adult with the finances. Im a growing boy i need sustenance.

@Amen send me 20 dollars.

I think it's fair to ask where you see yourself in years for this one

How much are we talkin here?

And is this money you are looking to invest long-term/for retirement or is there a possibility that you may need to access this money in the short term?

Living off of all of your incomes like a true section 8 advocator aka welfare.

Nah knocking people out for big bucks so they can get surgery done

Long term and somenshort term i have 24 thousand

Good stuff man. Considering you couldn't afford toothpaste last summer I'm very happy for you

The answer is invest it and my advice for that would be start a 401k AND an IRA I believe they're called in your country WITH A ROBO ADVISOR for much lower fees then banks. An American can verify. You want two different investment accounts.

In Canada we have RRSPs and TFSAs...Not sure what there equivalents are in the US but I'm assuming you have registered accounts where you save for retirement that helps with your taxes every year, but that gives you a big tax hit if you take the money out before retiring . These are our RRSPs, I'm assuming these are your 401ks? Maybe IRA?

THESE retirement account is where you want to put all your investment savings that you under no circumstances are going to withdraw until retirement.

Because your very young and you want this money to grow and compound over the next 40 years, you want to be veryyyy agressive with this portfolio. Like 90% stocks and 10% bonds split. Again, you're young and a bad year in the market wont hurt you too bad long term. As you get older and closer to retirement you'll switch from a 90/10 balance but that's what you want at this age.


next you'll want another investment account (either personal that's taxable or an IRA/401k , whichever one there's no penalty for making withdrawals).
This is your shorter term investment account where you have money that's growing but still accessible. You want to be less risk adverse with this money because it's short term.
Here you'll want to go for a 50/50 split or 60/40 split equities and bonds.

These robo advisors invest your money in Exchange Traded Funds which are passive , low-cost and more diverse then picking your own stocks.




If you for whatever reason are worried about investing with a robo advisor like Betterment or Wealth Front (I'm with Wealth Simple but it's Canadian) and want to take your own active approach to investing....

Start your portfolio buy buying VOO, VYM (this will pay you dividends) and keep your 'cash' in a high interest savings account of at least 2%+

I seriously wanna toss 2k at twizzler company stocks. But yea i m a put 15 grand into a 401k. And the rest ill look over what you said and put in one of those options.

I need a loan @Clout

@Clout

Congrats on the financial gain my g. Spend it well and prosper on....

@Clout you guys hiring part timers? My resume is impeccable

Ur hired

Love you big bro you light skinned bandit. Im sitting in the E.R. love working just love it...

Thats cool, blue bayounand amen are rich they got you bro. Send me 20 dollars for twizzlers please and thank you.

No but for real, 24k in a year on part time work? Plz

Oh i upgraded to per diem, so i can work as many hours as i like. Worked alot of doubles and sold some of my stuff from home.

Start looking at real estate bro fuck a 2% investment bro. That’s not flipping a 2 or 4 % flip ain’t shit nigga. Get this bread.