Hey guys,
BTW I am not asking for financial advice, just wanted to hear your thoughts
I'm starting to make some income off my business, nothing crazy, but for my age (16 yr) it's not too bad and much better than working at a fast food chain.
I am definitely making more than I spend and my bank account is growing each month. But what I've read is that, especially during the current economic climate, you should be investing a percentage of your income each month and DCA.
It sounds like a good idea on paper, especially since it seems like a waste to keep money in my bank, while the value of it slowly decreases.
I have dabbled in the crypto space last year, but only lost money. I've never invested in stocks and less keen to, since I don't really have enough money to make that worthwhile and would have to get my parents to make me an account (with crypto I can open one myself).
So with that being said, my current plan is to invest monthly, with 10% of my entire capital, into Ethereum (ETH), as it is one of the only cryptocurrencies I believe in and one of the safer cryptos. Also if I'm DCAing then I don't need to time the market so much.
Another option could be to invest this 10% into tech ETFs or the S&P 500... but idk
Let me know your thoughts and your personal experiences with this,
Thanks so much!
BTW I am not asking for financial advice, just wanted to hear your thoughts
I'm starting to make some income off my business, nothing crazy, but for my age (16 yr) it's not too bad and much better than working at a fast food chain.
I am definitely making more than I spend and my bank account is growing each month. But what I've read is that, especially during the current economic climate, you should be investing a percentage of your income each month and DCA.
It sounds like a good idea on paper, especially since it seems like a waste to keep money in my bank, while the value of it slowly decreases.
I have dabbled in the crypto space last year, but only lost money. I've never invested in stocks and less keen to, since I don't really have enough money to make that worthwhile and would have to get my parents to make me an account (with crypto I can open one myself).
So with that being said, my current plan is to invest monthly, with 10% of my entire capital, into Ethereum (ETH), as it is one of the only cryptocurrencies I believe in and one of the safer cryptos. Also if I'm DCAing then I don't need to time the market so much.
Another option could be to invest this 10% into tech ETFs or the S&P 500... but idk
Let me know your thoughts and your personal experiences with this,
Thanks so much!
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