A new factory opened up right down the street and now I'm making so much money I feel rich. I've been there about a month and I already have $1,736 left over from this job alone. At this rate, I could probably save at least 15k a year.I'm not a big spender, but I also don't know much about investing. Given my circumstances, what should I do with my monthly income?
>>62588670You sound like some kind of small town swashbuckler from Kentucky or Ohio thereabouts so just put it in the ole S&P500 there bucko.Don’t listen to ANY crypto faggots that come in here, ya hear?
>>62588676I'm actually from Texas, but S&P500 was my first thought as well.
>>62588670>save at least 15k a yeargrim
>>62588670>I could probably save at least 15k a year.>I'm not a big spenderare you a third worlder?
>>62588772>>62588780No, I'm from Texas. This year I've been doing general labor for this one guy, but the hours weren't enough and he's still been paying me $15 an hour. Now that I went from $17/hr starting out to making $20/hr this week, it's more money than I know what to do with. I could potentially make as much as $35/hr eventually. To a lifelong poorfag, that's what being "rich" feels like.
>>62588670VOO and chill. Agreed, avoid the crypto losers, they're all poor and salty millennials and older gen zs who are bagholding because the younger degens moved on to sports betting.
>>62588670If you only listen to one thing here, it should be thisStart tracking all your income and spending, and categorize itAll of itAnd don't overlook stuff...putting money in a 401k? That's income. Getting a match? Income. Interest from a savings account, dividend from a stock, cash back from credit card rewards? All income.I do exclude income taxes from spending, because there's nothing to be done about them, and I don't count capital gains/losses, because that's captured by net worth tracking, which is interesting, but I think far less informative than tracking income and expenses, which are behavioral.
As far as what you should actually do, start off with anything tax advantagedParticipate in 401k, at least enough to get the full matchParticipate in hsa if you canTake advantage of Roth IRAEven if you can't max these out yet, just start contributing somethingLook into stock index funds for these...just do something like 1/3 growth, 1/3 value, 1/3 international
>>62588670nice work on the job dude
>>62588811You're getting good advice here so I'll just say congratsThat is indeed how to get rich
>>62588670Save 10% and invest 15% of your monthly income. Plan for retirement.
>>62588670Jesus fucking christ Its USA really this bad right now? This is Mexico tier economy post sincerely.I feel bad for US i know their country is getting fucked hard by trump currently but didnt know it was this bad already.Also a lot of data is pointing for US ending really bad you guys will try to move to different countries in the future even México will be better than the US so you better be prepared, save your money and be ready to move out.
>>62589005Texas is mostly Mexico tier but if OP is getting California pay with Mexico expenses he's doing better than most of America
Don't be discouraged by people talking shit, if it's an improvement from where you were before then take some pride in it. I agree with people saying s&p ETFs, but would add try buying a bit of physical precious metals too, like 5-10% of your savings. It scratches an itch that numbers on a screen can't, but also has been a financially responsible thing to do judged by the past 6 years. It feels good to have some physical assets of value stashed on your property, assuming youre living with parents in a secure location or on your own.
Sounds pretty sweet, I'd go s&p ticker SPY with at least the majority of your savings then if you wanna get risky put the rest in BTC and/or learn to pick stocks. Listen to Jeremy to learn to pick stocks if you wanna go that route. And/or maybe Christopher Uhlhttps://m.youtube.com/@jeremylefebvremakesmoney7934https://m.youtube.com/@10MinuteTrading
>>62589035The last thing he needs to do is "trade stocks" with advice from some youtard, where even if he wins, he incurs tax liability. Putting 5-10% into gold/silver is a good idea, as long as it doesn't stop participation in tax advantaged accounts.
>>62589072Can he do limited trading within his retirement acct?I agree it's probably not a great idea but I suppose some people do it
>>62588946I don’t do any of this and still save about $80k a year
>>62589114Yes, you can trade individual stocks in a Roth IRA, but 401k and hsa will be limited to index funds, which is best for over 99% of people
>>62589175I don't understand your pointAre you saying a lack of information helps you save more or be more intentional? Based if true, but you'd be an anomaly
>>62588676this + buy gold and silver>>62588676
>>62588811thats good, but you will be working forever if you can only save $15k per year. you should get a second job
>>62589316Not necessarily If he's young, and can increase the amount saved each year (growing lifestyle slower than income), then that number could double in a relatively short period. Plus investments will gradually start compounding, even if it's invisible at first. A major market crash would actually be great for you, accumulating stocks at a discount for a few years would really accelerated things.
>>62589072If you have the time to educate yourself and discipline 'trading stocks'is the best way to make real money. It's just not easy to do and most retards get emotional ornstart before theu're ready with too little money and too big of bets and fail.
>>62589072Also 'don't trade cuz you have to pay taxes on profit'? Fuckin really? Do you want 80% of $100,000 or 80% of zero dollars?
>>62589035Btw those aren't just some youtube tards, they are both very successful verified traders. I and others have sifted through all the bs ones for you (see IMan trading). You're welcome.
>>62588670First and foremost, silver, then gold, stacked physically, not vaulted.When you have 500 oz of silver and 5 oz of gold, then start paper investments, but continue stacking an amount for precious metals.SCHD in a roth ira. S&P500 if traditional and you're never going to touch it until retirement. SCHD won't have as big og a drawdown.
>>62589072>10%70-80% should be in precious metals alone.
>>62588670WHERE IS MY WIFES SON?!?!
>>62589362The vast majority of managed accounts lose to indexesThe odds of an individual consistently beating an index is lowThe odds of an individual beating the an index when they have to pay taxes on every winner is even lowerOne of the indexes biggest advantages is you don't have to realize gains to rebalance
Dude those things never last long before they start hiring a bunch of illegal immigranrs and lowering the wages by a significant amount. In my experience. Hopefully it works out differently for you.
I'd like to remind everyone that people claiming to be rich on /biz/ are no different than people claiming to be ripped on /fit/. I guarantee you that 9/10 people in this thread talking shit are doing far worse than OP; shit we know for a fact that at least half the people on this board are actual third worlders looking for people to scam.
>>62588670Fellow Plongeur! You should not have to even ask for, as we serfs know, a plongeur when possessing the abilities will spend his earnings on the finest of liquor and any type of whore that will share his bed should he afford one.
>>62588670All in Chainlink. The peelers will hate but you're going to love me in a few years.
>>62589014And still only saving 15k in a state that has zero taxes? Jesus christ, americans, get out of your shit country asap.
OP, one word: SSODump it all into SSO and forget about it, it will do work on its own. Do good work and get promoted
>>6258867060% VOO40% VXUSIf you want to dyor, look into factor investing and you'll end up at ETFs from something like Avantis.If you never got a higher paying job than right now and are starting from literally 0 saved, you're looking at 18 years to retire safely in a lcol area with 15k/yr savings. That assumes standard performance of a 60/40 home bias investing approach w/o factor tilts.
>I make 17 an hour now>in americaHAHAHAHAHAHAHHAHAHAHA
>>62588860Finally a zoomzoom with some damn sense
>>62588670BTC won't be a bad asset to buy. And you can also put it to work on Babylon, but you need to stay far away from altcoins
>>62588697VOO and chill.
