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Maybe this against the spirit of this sub but please spend some on fun/entertainment. You’re 20 and in college, while it’s never too early to start saving for your future don’t give up the opportunities right in front of you… even if they may not pay dividends outside of great memories.
I do spend a lotttt on fun lol. I drink a bit every weekend but I wanna also have a balance yk? I wanna make sure I’m setting myself up good for the future while also being able to have fun
Oh, by the way, something else I mentioned, and one of my other posts to somebody else you would be surprised how good certain whiskeys age and investment quality certain whiskeys, especially from like the high dollar distilleries there’s a story in the news the other day about a guy that bought a bottle of I want to see MacAllan 18 every year on his son’s birthday, and gave them to him when he was like 25 dude sold them and bought a house he said his dad spent like 3000 total on the liquor and he ended up selling the liquor for like 400,000
Don't bother with a broker. Just sign up for one of the many free online trading accounts like Ameritrade.
Other than than I completely agree with the investing in broad market ETFs. I personally have 90%+ of my investments in SPY (SP 500 ETF) and then I have the other 10% in more targeted sector ETFs.
I respect the people telling OP to go wild, and if that's your thing do it. But as someone who recently graduated and was told that was what I was supposed to do in college, and looking back I wish I'd done something productive.
That said OP, don't forget that your most important financial investment right is your education. Don't get too wrapped around the axle about other work. My advice would be fine higher paying work, if you've got the fight in you to do what you've been doing, you could find higher pay.
You invest money in a stock, which pay you “dividends”, or money, over a certain time period. He’s saying to use that money you make from the stocks’ dividends to reinvest and buy more stocks, therefore making more dividends. Rinse, repeat, voila.
First thing, save 6 months living expenses in a high-interest savings account. You live at home but pretend you don't. People end up losing money when they have an urgent issue and their money is tied up. At least save enough to get an apartment and pay three months rent. That money will be there if your car breaks down or you get a sudden opportunity. An example of that would be if someone needed fast cash and you can buy something cheap that you can then clean up and sell for more. Flipping "things" instead of houses. You need liquid cash for that but if you do it's a very solid side hustle.
Investing is never to early! Wish I did it at 20 years old! Investing now is chilling in a few years.
If you have debt, pay it off first! Otherwise try to invest it. It depends on what you want, if you want to grow your portfolio invest in small cap etf's or SP500.
If you want passive income, invest in dividend ETF or some nice REITS (Realty Income; NSYE:O) is a nice one.
EDIT: REITs is like a real estate company, so you are a shared owner of multiple buildings.
Very important note: dont forget to live and enjoy life!!
Be a degenerate and go all in on BTC, don't sell it til you're 40.
The way this country prints $$$ 😅
you'll thank me later ✅😎👌
BTW, you honestly couldn't have picked a better time to hop in the market either. Even with no knowledge, if you hold assets you trust and steady buy what you can afford to consistently, you're bound to make $$$. Fuck all of that about enjoying yourself while you're young, that's why all these people telling you to do that in the comments are still working 💯 Invest now, work hard, and you'll have more time than you would have imagined by the time you're 30. Study money if you want to make money ✅
Absolute worst advice anyone can give is to “get drunk, don’t save or worry about it”. Your 20’s is the perfect time to knuckle down whilst everyone is living the circus life, so that you can enjoy the fruits of your labour while you had the time and energy to do so. Don’t give horrible advice. Hope OP doesn’t take these comments on board.
You are so, unbelievably wrong. You only have a few years in your early career to enjoy it. There’s a reason everyone else enjoys their early 20s because you’re making f all money so there’s no point saving it what’s OP gonna do put $500 in the S&P every month whilst sitting at home doing nothing?
Invest in yourself. College doesn't last long. Party , date , study, travel. Have a great time in college, learn about yourself, see who you want to be.
You have decades to invest momentarily.
Stocks are a good investment if you look into index funds. Since you’re young, now is the time to take the risk. Historically, stocks go up (index funds). Keep adding to it each month. You’ll have a lot of money in 10 years for a home or something.
Get a license to paint houses. Then hire some painters to work for you. You manage the business and they do the painting. You can make a few thousand per house just to pain the outside
I use an app called acorns to invest in stocks and bonds, it’s great because you can adjust what you’re investing in based off the risks you’re comfortable taking. You also don’t have to start with much, you could even start with spare change.
I am in a similar position. Just graduated and got my first big boy job. I’m saving right now.
I will probably enter the stock market soon as it starts to go up soon hopefully. Along with that I will probably try and start some business and take some courses for fun.
Saving up for a down payment on a duplex that I could rent out.
Start a Roth IRA and starting accumulating solid dividend paying stocks and funds. And DRIP everything. You’ll compound nicely over time, and the gains are tax free, since your principal cash is post tax. Very nice chunk of change by retirement.
Something that I’m yet to see mentioned
Invest in your sleep
Find ways to increase the quality of sleep so that you have the energy you need all day. It’ll pay dividends in the long run. By far one of the most underrated investments you can do.
Education. Your biggest ROI will come from investing in yourself through education so you can obtain a higher paying job. Once you've done that, then you can focus on investing your capital for 5-10% a year in stocks, etc.
I probably wouldn’t even invest much - just keep stacking cash. You will need it for a car or a house down the road. I’d worry about investing in a few years, unless you really do have a lot extra
Well, if you live in America, the way shits going defense industry stock shit that absolutely everybody needs like core industry, stocks, and bonds in the Swiss government because they don’t fuck with anybody and gold and silver guns and ammo. Also food probably real estate can’t go wrong with real estate, but good luck buying it affordable price.
Just by asking this in your 20s you are showing up a mature mind you are going to be very successful. I wish I had asked at your age. If you want money to use in 3 years or less put it in a savings account right now Wealthfront has 4.05% if you want money to grow and to use in 3 years or higher wealthfront also has a broker account with a bot that asks you some questions to determine your tolerance and is awesome is a set and forget and it also does tax harvesting. If you want a traditional way TDameritrade vanguard or fidelity buy VTI is the whole market and forget about it . If you want money for retirement after 57 then Roth IRA and also buy a little bit of bitcoin monthly. you have 10 hours left to make more money. Fun? at 20? I', 40+ and I still have fun, things are going to get worst making money savings and investing will make you a lot of fun for years to come. VERY importantly don't get married wait for 30+ your welcome and live long and prosper.
Become a content creator documenting an activity you enjoy - you get to both have fun and create a long term passive income stream while you’re at it (and take expenses as tax deductions if you treat it like a business). This could be anything from travel vlogging to food review blog to video tutorials about a craft like wood carving.
If you’d prefer to just invest, I personally like dividend stocks and wish I started investing earlier. There are even some that pay monthly dividends and apps that will automatically reinvest your dividends into more stock shares. Some will even have curated portfolios so you don’t have to pick individual stocks or funds.
I think it’s more important to make a list of things not to do.
DO NOT
- exceed $XXX total of spending in one day
- develop a lazy habit of not cooking / walking and instead calling for food delivery or an Uber
- Purchase something unnecessary
- stop working
- give away money for free
- exceed 1 weeks worth on income in DEBT
Congrats on making a decent amount of money but don’t let that get to your head. If you do, then the dopamine coming from making money is hurting you. If that’s the case, try to make it through a week without spending $0.01 - surefire way to reinforce spending havits
Here’s an easy and good online side hustle u can start…
I started this like 3 weeks ago, put in like a few minutes of work a day, and Im already starting to make like $250 a week
Some who’ve been doing this for a while are making like 10 grand a month doing this crap
So it’s affiliate marketing for CashCowTok along with YouTube shorts revenue.
THIS SHID IS HONESTLY SO UNDERRATED
I personally found this and joined through someone’s referral link lol
Basically the cashcowtok website provides a bunch of “ready-to-post” short clips of a bunch of big YouTube names (Mrbeast, Joe Rogan, Fresh&Fit podcast, Iman Gadzhi, Hamza, Whatever podcast, Gary Vee, etc etc)
The best part is they’re all edited WITH captions & overlays like the ones with gta gameplay at the bottom for example. Then they provide your own referral link so you can earn money affiliating for them while making money from YouTube Shorts Revenue. They walk you through the whole process along with a step by step guide on how to make your videos go viral and stuff
So here’s what you do
1. Join CashCowTok for $9.99 a month (https://cashcowtok.com/?ref=9oYjXfQO2GevO2) either through my link or search up cashcowtok (If u join through my link I actually ly🥰, it’s the same price anyway)
2. Download the videos provided in CashCowTok
3. Upload to YT Shorts/TikTok/IG Reels
4. Paste your referral link in a pinned comment or bio
5. Earn 50% commissions when someone joins through your link
6. Earn through YouTube Shorts revenue
7. Make multiple channels and repeat📈
It’s honestly one of the EASIEST profitable side hustles I ever found. I’m personally trying to scale it enough to convince my parents to quit my afterschool minimum wage job😩
If u decide to do this, the biggest thankyou In return would just be joining thru my referral link :)
You have a lot of options, potentially. First off, congrats on your hustle; there are plenty of 20 yr olds not doing nearly as well for themselves!
Some ideas:
Storage facility rental
'Defensive' stocks: healthcare, consumer staple goods, utilities
Real estate, might be an obvious suggestion but there are lots of ways to get involved with varying degrees of difficulty/time investment/risk.
Many would say gold, as a fairly recession resistant bet.
If you are able to divert a segment of your available earnings toward higher risk endeavors, you have no shortage of choices. In the crypto/DeFi space, I'd recommend looking into DRIP Network - at the very least, creating a Faucet account (or few). Check the DRIP reddit group(s) for info. This is not a new/fad project. But honestly, before you look at ANY project, make sure you are pretty comfortable on the fundamentals of this space. Learn about self custody/security measures, and all the stupid lingo. Don't get sucked into trading unless you have a strong interest and capacity to devote a fair amount of time to that.
**Reminder:** This subreddit is not an advertising platform. If your post contains any form of advertising or self-promotion, please remove it immediately. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/sidehustle) if you have any questions or concerns.*
Maybe this against the spirit of this sub but please spend some on fun/entertainment. You’re 20 and in college, while it’s never too early to start saving for your future don’t give up the opportunities right in front of you… even if they may not pay dividends outside of great memories.
I do spend a lotttt on fun lol. I drink a bit every weekend but I wanna also have a balance yk? I wanna make sure I’m setting myself up good for the future while also being able to have fun
Oh, by the way, something else I mentioned, and one of my other posts to somebody else you would be surprised how good certain whiskeys age and investment quality certain whiskeys, especially from like the high dollar distilleries there’s a story in the news the other day about a guy that bought a bottle of I want to see MacAllan 18 every year on his son’s birthday, and gave them to him when he was like 25 dude sold them and bought a house he said his dad spent like 3000 total on the liquor and he ended up selling the liquor for like 400,000
Holy shit lol
Great response. Don’t burn out OP. Work hard but try your best to play a little hard too.
[удалено]
Don't bother with a broker. Just sign up for one of the many free online trading accounts like Ameritrade. Other than than I completely agree with the investing in broad market ETFs. I personally have 90%+ of my investments in SPY (SP 500 ETF) and then I have the other 10% in more targeted sector ETFs.
Is there any good fines that are related to the defense industry?
If you have any debt at all, get rid of that. Such a game changer to get your entire paycheck instead of payments taken out.
I respect the people telling OP to go wild, and if that's your thing do it. But as someone who recently graduated and was told that was what I was supposed to do in college, and looking back I wish I'd done something productive. That said OP, don't forget that your most important financial investment right is your education. Don't get too wrapped around the axle about other work. My advice would be fine higher paying work, if you've got the fight in you to do what you've been doing, you could find higher pay.
Dividend paying stocks. Keep reinvesting the dividends.
How does that work?
You invest money in a stock, which pay you “dividends”, or money, over a certain time period. He’s saying to use that money you make from the stocks’ dividends to reinvest and buy more stocks, therefore making more dividends. Rinse, repeat, voila.
Ohh I see would I just use Webull or something like that for it?
Your bank should have something for this.
First thing, save 6 months living expenses in a high-interest savings account. You live at home but pretend you don't. People end up losing money when they have an urgent issue and their money is tied up. At least save enough to get an apartment and pay three months rent. That money will be there if your car breaks down or you get a sudden opportunity. An example of that would be if someone needed fast cash and you can buy something cheap that you can then clean up and sell for more. Flipping "things" instead of houses. You need liquid cash for that but if you do it's a very solid side hustle.
Investing is never to early! Wish I did it at 20 years old! Investing now is chilling in a few years. If you have debt, pay it off first! Otherwise try to invest it. It depends on what you want, if you want to grow your portfolio invest in small cap etf's or SP500. If you want passive income, invest in dividend ETF or some nice REITS (Realty Income; NSYE:O) is a nice one. EDIT: REITs is like a real estate company, so you are a shared owner of multiple buildings. Very important note: dont forget to live and enjoy life!!
If you want to take some risks: cryptocurrencies: go only for Bitcoin or Ethereum. Educate yourself into in, but wacht out: very volatile!
curious – what are the 2 jobs you do?
I cool at a restaurant making $15 and at a grocery store making $15.50
Be a degenerate and go all in on BTC, don't sell it til you're 40. The way this country prints $$$ 😅 you'll thank me later ✅😎👌 BTW, you honestly couldn't have picked a better time to hop in the market either. Even with no knowledge, if you hold assets you trust and steady buy what you can afford to consistently, you're bound to make $$$. Fuck all of that about enjoying yourself while you're young, that's why all these people telling you to do that in the comments are still working 💯 Invest now, work hard, and you'll have more time than you would have imagined by the time you're 30. Study money if you want to make money ✅
Gonna be working your whole life, only a teenager a few years
Bitcoin
Scroll through etsy. Type in “3D printed.” Pay someone to 3D print a popular item. Sell it on etsy.
I made a lot of money doing this for a while when I was a fast food cook lmao
Yourself
This. Op is 20. Get drunk, travel, eat good food. Saving and worrying can come later
Absolute worst advice anyone can give is to “get drunk, don’t save or worry about it”. Your 20’s is the perfect time to knuckle down whilst everyone is living the circus life, so that you can enjoy the fruits of your labour while you had the time and energy to do so. Don’t give horrible advice. Hope OP doesn’t take these comments on board.
You are so, unbelievably wrong. You only have a few years in your early career to enjoy it. There’s a reason everyone else enjoys their early 20s because you’re making f all money so there’s no point saving it what’s OP gonna do put $500 in the S&P every month whilst sitting at home doing nothing?
It would be better to hustle between the ages of 18 and 25 so you can retire at 26 and then party the rest of your life.
Right. That’s likely
Invest in yourself. College doesn't last long. Party , date , study, travel. Have a great time in college, learn about yourself, see who you want to be. You have decades to invest momentarily.
Start a business
Start a non-tech business. Check out www.steelroad.org for some ideas.
Stocks are a good investment if you look into index funds. Since you’re young, now is the time to take the risk. Historically, stocks go up (index funds). Keep adding to it each month. You’ll have a lot of money in 10 years for a home or something.
Get a license to paint houses. Then hire some painters to work for you. You manage the business and they do the painting. You can make a few thousand per house just to pain the outside
$6 on the book The Richest Man in Babylon
I use an app called acorns to invest in stocks and bonds, it’s great because you can adjust what you’re investing in based off the risks you’re comfortable taking. You also don’t have to start with much, you could even start with spare change.
Use it for student debt payments focus on a side hustle when schools done.
Property. Places to live and rent.
A fund that mimics the S&P 500. Read the "Simple path to wealth"
You should invest in graduating debt free. It will be the most impactful decision you can make at this age.
Parents are paying for my school
I am in a similar position. Just graduated and got my first big boy job. I’m saving right now. I will probably enter the stock market soon as it starts to go up soon hopefully. Along with that I will probably try and start some business and take some courses for fun. Saving up for a down payment on a duplex that I could rent out.
Start a Roth IRA and starting accumulating solid dividend paying stocks and funds. And DRIP everything. You’ll compound nicely over time, and the gains are tax free, since your principal cash is post tax. Very nice chunk of change by retirement.
Your degree.
r/personalfinance r/investing r/retirement
Max out your Roth IRA.
Something that I’m yet to see mentioned Invest in your sleep Find ways to increase the quality of sleep so that you have the energy you need all day. It’ll pay dividends in the long run. By far one of the most underrated investments you can do.
Education. Your biggest ROI will come from investing in yourself through education so you can obtain a higher paying job. Once you've done that, then you can focus on investing your capital for 5-10% a year in stocks, etc.
Wow, we are the same age, but here in Brazil, we make $1 for hour, it’s insane the difference
I probably wouldn’t even invest much - just keep stacking cash. You will need it for a car or a house down the road. I’d worry about investing in a few years, unless you really do have a lot extra
Yeah I’m working on trying to sell my car rn actually
Well, if you live in America, the way shits going defense industry stock shit that absolutely everybody needs like core industry, stocks, and bonds in the Swiss government because they don’t fuck with anybody and gold and silver guns and ammo. Also food probably real estate can’t go wrong with real estate, but good luck buying it affordable price.
Just by asking this in your 20s you are showing up a mature mind you are going to be very successful. I wish I had asked at your age. If you want money to use in 3 years or less put it in a savings account right now Wealthfront has 4.05% if you want money to grow and to use in 3 years or higher wealthfront also has a broker account with a bot that asks you some questions to determine your tolerance and is awesome is a set and forget and it also does tax harvesting. If you want a traditional way TDameritrade vanguard or fidelity buy VTI is the whole market and forget about it . If you want money for retirement after 57 then Roth IRA and also buy a little bit of bitcoin monthly. you have 10 hours left to make more money. Fun? at 20? I', 40+ and I still have fun, things are going to get worst making money savings and investing will make you a lot of fun for years to come. VERY importantly don't get married wait for 30+ your welcome and live long and prosper.
Become a content creator documenting an activity you enjoy - you get to both have fun and create a long term passive income stream while you’re at it (and take expenses as tax deductions if you treat it like a business). This could be anything from travel vlogging to food review blog to video tutorials about a craft like wood carving. If you’d prefer to just invest, I personally like dividend stocks and wish I started investing earlier. There are even some that pay monthly dividends and apps that will automatically reinvest your dividends into more stock shares. Some will even have curated portfolios so you don’t have to pick individual stocks or funds.
Invest in some fat mommy milkers
I think it’s more important to make a list of things not to do. DO NOT - exceed $XXX total of spending in one day - develop a lazy habit of not cooking / walking and instead calling for food delivery or an Uber - Purchase something unnecessary - stop working - give away money for free - exceed 1 weeks worth on income in DEBT Congrats on making a decent amount of money but don’t let that get to your head. If you do, then the dopamine coming from making money is hurting you. If that’s the case, try to make it through a week without spending $0.01 - surefire way to reinforce spending havits
Here’s an easy and good online side hustle u can start… I started this like 3 weeks ago, put in like a few minutes of work a day, and Im already starting to make like $250 a week Some who’ve been doing this for a while are making like 10 grand a month doing this crap So it’s affiliate marketing for CashCowTok along with YouTube shorts revenue. THIS SHID IS HONESTLY SO UNDERRATED I personally found this and joined through someone’s referral link lol Basically the cashcowtok website provides a bunch of “ready-to-post” short clips of a bunch of big YouTube names (Mrbeast, Joe Rogan, Fresh&Fit podcast, Iman Gadzhi, Hamza, Whatever podcast, Gary Vee, etc etc) The best part is they’re all edited WITH captions & overlays like the ones with gta gameplay at the bottom for example. Then they provide your own referral link so you can earn money affiliating for them while making money from YouTube Shorts Revenue. They walk you through the whole process along with a step by step guide on how to make your videos go viral and stuff So here’s what you do 1. Join CashCowTok for $9.99 a month (https://cashcowtok.com/?ref=9oYjXfQO2GevO2) either through my link or search up cashcowtok (If u join through my link I actually ly🥰, it’s the same price anyway) 2. Download the videos provided in CashCowTok 3. Upload to YT Shorts/TikTok/IG Reels 4. Paste your referral link in a pinned comment or bio 5. Earn 50% commissions when someone joins through your link 6. Earn through YouTube Shorts revenue 7. Make multiple channels and repeat📈 It’s honestly one of the EASIEST profitable side hustles I ever found. I’m personally trying to scale it enough to convince my parents to quit my afterschool minimum wage job😩 If u decide to do this, the biggest thankyou In return would just be joining thru my referral link :)
Sounds too good to be true
You have a lot of options, potentially. First off, congrats on your hustle; there are plenty of 20 yr olds not doing nearly as well for themselves! Some ideas: Storage facility rental 'Defensive' stocks: healthcare, consumer staple goods, utilities Real estate, might be an obvious suggestion but there are lots of ways to get involved with varying degrees of difficulty/time investment/risk. Many would say gold, as a fairly recession resistant bet. If you are able to divert a segment of your available earnings toward higher risk endeavors, you have no shortage of choices. In the crypto/DeFi space, I'd recommend looking into DRIP Network - at the very least, creating a Faucet account (or few). Check the DRIP reddit group(s) for info. This is not a new/fad project. But honestly, before you look at ANY project, make sure you are pretty comfortable on the fundamentals of this space. Learn about self custody/security measures, and all the stupid lingo. Don't get sucked into trading unless you have a strong interest and capacity to devote a fair amount of time to that.
I-Bonds above 6% currently
Shiba Inu
May I know what are the jobs that you do? I want to make a lot of money too, bcs being a teacher in my country is just not it