First of all, you’re the man. Thats awesome you’re already educating yourself and working hard. This would be my advice to you: -Keep working a job and saving/budgeting money. I say budget, not just save, because you should still budget for fun things in life at your age. Enjoy the fruits of your labor while still stacking some savings. -You asked about compounding assets - keep that mindset when it comes to investing. When you’re young it can be very tempting for you to take the bait of some higher risk or get-rich-quick opportunity. I made some dumb financial decisions hoping to win big - NFTs, individual stocks, even trends like dropshipping. Would have been much better off focusing on long term. Starting at your age compounding is huge. And a monthly contribution of some sort is a good habit to develop at your age.
Entrepreneur
Rules
- No Personal Attacks - criticism of ideas is allowed, attacking people is not.
- Self Posts Only - links can only provide supplementary material. Your post must contain enough content to have a discussion.
- No “How To Get Rich Quick” posts - This community is not about making a quick buck. Posts asking the community how to make $X, without making specific reference to a reasonable idea, are not tolerated.
- Avoid unprofessional communication - Please treat fellow entrepreneurs like respected coworkers, label conversations if NSFW and avoid deliberate provocations.
Please feel free to provide evidence-based best practices, share a micro-victory, discuss strategy and concepts with a frame work, ask for feedback, and create professional conversation. Treat every post as if you're at work and representing the best version of yourself.
The market is soft right now, so you may want to consider investing in a money market account, or just a regular savings account.
Stay out of the stocks tbh focus and pour everything you have in the business and just see where it goes
I'm new to Reddit. Want to get people to test out my prototype. Would appreciate any uparrows so I can post a bigger announcement
Create more streams of income using that money (at least 3 or4), you can invest $100, but you need to have active sources of income before investing
Don’t rush to spend it mate, find your niche, work on it a lil without dropping some cash (if it’s possible), then when you feel like it’s the one, you can use those savings.
Buy bitcoin and wait until you 30.
Keep working on that business. And brainstorm on some more.
If you’re 15 and you’re thinking like this I’ll tell you already that you’ll be successful. As for your $1500 first ask yourself whether you want immediate and high ROI with high risk or a more balanced long term approach. If it’s option A, look into options trading. If it’s option B, look into assembling a small portfolio and invest in index funds. Option C is another low yield option, but very safe; US government bonds. You’ll get back 4 ish %. Also get on LinkedIn and join groups where CEOs and finance leaders like myself share opinions, views, and data!
Ok I’ll look into that. Thanks!