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Old 08-04-2007, 03:50 PM #1
maddog91
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Ok so I'm 17 and no real time for a normal everyday job..Some quick investing q's

I have about 1700 in the bank..And I was wondering me being 17 no experience whats the best way to maybe inves tthis money and get some sort of profit..Im not looking to net 10000% more..Just maybe a few hundred every time I do this...I cant invest in stock and Im under 18 so the bank wont even open a door for me..What do you all consider is something I can study up on and work it up and make a few hundred bucks..

Thansk alot smart people!!!

eric
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Old 08-04-2007, 04:26 PM #2
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Maybe you could get ur dad to help you with the stocks till ur 18.
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Old 08-04-2007, 04:29 PM #3
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Your goals are too high.

If you want to pull a couple hundred off "every time you do this" in order to make $200 a month your returns would have to be 141%. That just isn't a realistic number.

I think you can expect to make about $75 a year on it in some type of guaranteed return product. That is after taxes...

Sorry bud, but your request just isn't feasible.
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Old 08-04-2007, 05:08 PM #4
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If I were you I'd start an IRA. Starting now only allows that to grow even longer. I started my 401k at age 25 but wish I'd started it at 19. Start your retirement funds early and contribute often. You'll be flush with cash by the time you retire. I know it's not a "sexy" decision but as far as money-making goes... it don't get much better than 40 years of compounded interest...
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Old 08-05-2007, 01:04 AM #5
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An IRA is definitely the way to go.

I've got about 11k or so in one that was created at age 18. By the time I retire, it will be an *** load of money. When I can hold down a decent job, I plan on adding a whole lot more to it.

My dad created one when he was 25 about 40 years ago. He only put about 2500 in it, but now it's worth about 62k. Do the math. It starts out really slow, but as it compounds near the end, it gets pretty hefty.

It won't pay off now, but if you live to age 60 or so, you'll thank yourself.
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Old 08-05-2007, 02:59 AM #6
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no, pick a busisness route you like and stick to it. i am a photographer and whenever i get bored, i just go out, take pics, print huge prints go out, take pics, print huge prints, and sell em. the camera i bought was 1900 with 2 lenses, but if you really work at it, it adds up. im 15 and i have 20k in the bank from when i was 13. or do something else you like and sell your ****.
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Old 08-05-2007, 11:18 AM #7
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Quote:
Originally Posted by AxiomaticDave View Post
If I were you I'd start an IRA. Starting now only allows that to grow even longer. I started my 401k at age 25 but wish I'd started it at 19. Start your retirement funds early and contribute often. You'll be flush with cash by the time you retire. I know it's not a "sexy" decision but as far as money-making goes... it don't get much better than 40 years of compounded interest...
Your advice makes no sense.

The poster is not looking to build wealth for the future, he is looking to generate income now. An IRA most definitely will not do that.
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Old 08-05-2007, 12:44 PM #8
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somich is correct.Im not in the situation for mney int he future.Thats when Im like 19 that I will start saving.I need more money now.College,when I go out ect...

Reading all the feedback and loving it..thanks
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Old 08-05-2007, 04:09 PM #9
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Okay. Then there really is no "get rich quick" scheme. Your rate of return won't be high enough to meet that need for spending money that you desire, on almost any investment choice. The best way to earn money right now is a job.
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Old 08-06-2007, 10:18 PM #10
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My advice makes perfect sense. I stated that that's what I would do. While he may have shorter-term goals - building wealth for the future should be everyone's goal. Making a few hundred everytime he decides to dabble in investing is unrealistic unless you're a relentless market-watcher and have lucky timing. Everything I've ever seen says it's best to let you money grow long term - but maybe they don't make any sense either.
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Old 08-07-2007, 03:15 AM #11
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Then enjoying living on a STRICT budget your whole retirement life. Enjoy getting beat up by inflation.

Equitys have outperformed all asset classes for the past 20 somthing years(cant remember the exact number). Im not saying thats what this guy should do but your way is just a middle class way of looking at things....you can never get rich that way.
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Old 08-07-2007, 04:21 PM #12
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Quote:
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I stated that that's what I would do.
Right...but the poster asked what he should do, not what you would do.
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Old 08-07-2007, 05:55 PM #13
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lol thanks guys..reading and sucking it all in..,keep posting..
thanks alot
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Old 08-07-2007, 10:43 PM #14
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buy drugs in bulk haha.... jk

no but seriously
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Old 08-08-2007, 04:22 PM #15
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buy drugs in bulk haha.... jk

no but seriously
This forum is generally a bit more mature than the rest of ST. I suggest you fall into place as well.
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Old 08-09-2007, 06:42 PM #16
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thought bout the drugs..Then it hit..I like to sleep at night knowing noone wants to kill me.

I wont get my door busted in by the FBI

And yea..Im safe..lol.
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Old 08-10-2007, 05:30 AM #17
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you could get like 7 zips, flip em for $2100 300/zip. thats like 700 in a week. there is money to be made by taking a risk.
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Old 08-10-2007, 10:37 AM #18
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zips?
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Old 08-10-2007, 11:36 AM #19
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zips?
ounces of teh marijuanas.
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Old 08-10-2007, 12:29 PM #20
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flip an ounce to a brick
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Old 08-12-2007, 02:17 PM #21
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You only get caught selling drugs if you're greedy and willing to take the risk.

I sell just enough to buy my own weed. I buy a quarter almost every week, and sell most of it since I don't smoke that much.


You don't have to buy an ounce then break it up into dime bags and sell all of that just to make a profit.
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