What are you doing with your money?

I'm 28 with like $16k to my name, most of which has been acquired in the last few months from unemployment and stimulus payments. I've invested about $2k of that, have $3200 in actual cash, and the rest is in a couple bank accounts. I've racked my brain for weeks trying to figure out what to do with my money, but so far everything feels frivolous. A car? Already have that. Land or a house? No credit at the moment, no one will give me a mortgage. Hobbies? Already have tons of video game/gardening/music making/crafty stuff. Have any of you come up with decent ways to spend money recently? Should I just be holding and investing? It just feels dumb to finally have more money than I've ever had but not have any interesting ways to spend it

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Just open a business bro

Buy trustswap

The only business idea that I've come up with and think I would be good at is opening a high end tiki bar, but this isn't exactly the best time to do that and that still probably requires getting loans. Otherwise I don't think I have enough money to really open any kind of business

do you have any debts? 16k isn't much to make any huge plays. your best bet is to try and ride the market somehow, while you build credit to get into real estate.

No debts, thankfully. I'm thinking the same though, probably best to invest and hopefully grow my reserves over the next year or two so I can cash out and buy/build a house. Just feels kind of disappointing to finally have cash and not do anything interesting with it

You got your darknode, right user?

Anyone else? Or is everyone on here just gambling on memestocks and shitcoins?

Bitcoin

$16k is fuck all, what skills do you have? if none you need to get some to make a serious income

You use your money to make more money. And then you repeat until you don't have to work ever again.

Until then, don't think about anything else.

In what world do you live where $16,000 isn't a lot of money? I know it can't buy a house or anything but I could live my current lifestyle for like two years off of that alone. I was a touring musician and sound engineer before corona, which unfortunately I think is going to be a career of the past. I have artistic skills other than that but my portfolio is centered around artwork related to the music industry so that feels kind of cancelled too. Investing in a completely new career after a decade is so discouraging that I almost 100% don't want to do it...

So just invest? And sit on my ass playing video games and eating snacks??

With respect to maintaining a subsistence lifestyle for a few years, its a decent amount of money. With respect to investing in the markets ( which you spoke about in your OP) it is truly fuck all, as historically the best investors on the planet have attained a 15-20% rate of return on their portfolios per year.

Buffet himself averaged 15%. Difference is successful investors start with far more money, so 15-20% is substantial.

I agree with that. I would throw a lot more than $2k into stocks if the economy wasn't in full on clown mode, but I'd hate to lose my [small] ass right now trying to time positions. I'm up 7.5% overall after trading for a couple months but I guess I'm still getting my feet wet. Would it be dumb to just keep looking for good swing trades? Or better to throw another ~$2k into solid tech stocks and wait?

my honest opinion is that you need to develop another skill, 90% of traders ( you are clearly trying to trade and market time and not invest) lose money.
I understand that its tough to start afresh, judging by what you are typing I think you will join the 90% in a few months

You absolutely should start investing just to get some skin in the game, the financial literacy alone is worth it. It also gives you a place to funnel excess funds when your checking account looks good and you have no debt.
I do ~10% crypto, ~20% short term stocks/options, and 70% boomer-tier etf/bond account.
The latter is: 40% VTI, 40% VT, 10% BND, 10% IAU. I'd enter a position like that slowly over the course of a year or two.

Well, I would invest long term if I actually had the money to do that. It just feels stupid to buy like 5 shares of Microsoft or something when I could use that same money to swing 2x or 3x while things are bottomed out due to an unprecedented pandemic economy. I don't have any illusions about being Buffett but people clearly make decent money from trading. As for developing another skill I'm basically too discouraged at the moment to try that. Call it depression or whatever but it feels pretty crushing to spend the first decade of my adult life investing 110% into one career just to have it go belly up due to things completely outside of my control

Forgot to mention, I have a low level recurring deposit going into an Acorns account set to their "Moderate" portfolio, which is 29% VOO, 20% SHY and LQD, 12% VEA, 10% VB, 6% VNQ and 3% VWO. Should I set it to a more aggressive portfolio or pull out and pick the ETFs and bonds myself?

Depends on what you want man, do you want to live a consumerist life style and live pay check to paycheck or achieve financial freedom. Im the same age as you and i have 300 grand cash and maybe 100 grand in cryptos and 30 grand in shares, i still feel fucking poor. To achieve financial freedom i believe i need to accrue at least 1.5 million and compound it in a vanguard etf fund to make approximately 40k a year and just live off that

I'd love financial freedom but I honestly don't see myself having the capital to reach that point any time soon. The career I chose before corona traded income for life experience, which was awesome but I'm basically poor as fuck. How in the world do you have almost half a million dollars? What did you start with? Wealthy family?

You’ll make less money trading than you will buying and holding 5 shares of Microsoft over the long term. You won’t realize it until you make a bad trade and completely fuck the gains you thought you were making

Dude you need to wagecuck and invest your savings into an S&P index, maybe get some Bitcoin if you feel like placing a riskier bet. Don’t sit on cash, it’ll just inflate into worthlessness. Don’t trade, you’ll think you’re great at it until you aren’t. Wagecuck, buy and hold over a long time period and you’ll be fine. Literally the only thing someone as obviously financially retarded as you should be doing

I did an electricial apprenticeship when i was 18 , i just work industrial electrical gigs. Ive been to mongolia , zambia, phillipines but mostly i just do construction gigs in australia

Depends on the expense ratios but that portfolio looks reasonable, maybe a bit bond heavy.
I picked mine for the international exposure with VT and inflation protection with IAU.

Or you could become a farmer like Joel Salatin. Eat the highest quality food while healing the Earth, instead of throwing your money at corporations who only care to rape the planet of its beauty and resources in the name of (((profit)))

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I'd be a farmer 100% if it didn't require the heavy upfront costs of buying land and the tools to actually farm. I live in a more rural area but close enough to people that would throw money at high quality produce.

>dude just wagecuck
Absolutely not. I'd rather live off my savings and shitpost for two more years than resign myself to that lifestyle. I get the recommendation to be cautious with trading but I'm not a mouth breathing retard that can't figure out how to not lose money.

This just feels like I'm kind of fucked unless I do something that I honestly just don't want to do. And the really depressing part is that it doesn't really have to do with choices I made, but millionaire career politicians disregarding policy that would actually benefit people like me

Buy crypto for high risk/reward returns.
AMPL, RLC and ARPA are hot right now.

You can buy 50 acres of decent land for less than $200,000. Also, you don't need heavy machinery if you're only going to raise livestock. Vegetables are a meme; you don't need them. Organic eggs, dairy, meat, and one fruit per day (for vitamin C) are all you need. With Joel Salatin's method you would increase the value of your land and heal the earth, while getting yields of a much higher quality and in greater quantities.

all in on link

You can get a no credit loan

>16k to his name
>feels he needs multiple bank accounts
Poorfags are just adorable