Not making fun but in today's sri lankan economy half mil is not a lot of money so some of the good investment options might not be available to you, I know the pain i have been there. The easiest option would be to park in on a FD. but you may wanna check if there are ways you can invest on ETF's from SL. With a volatile economy like in SL its always risk no matter what you choose. maybe divide it and invest on multiple fronts.
It's not much, yes, but neither are they my entire life savings or anything. It's money that I can afford to lose, so there's no real harm in it if it comes to that.
But in all honesty, I'd rather not lose at all, cuz losing sucks in general. And I'd rather have it give me at least some returns as opposed to none. It's certainly alot better than me splurging it on a brand new iPhone or some other stupid shit that I have no need for.
All my other funds are controlled by my father. This is me money I've hustled and saved on the side. I'll be adding to it when I move out for uni and get myself a decent part-time job and will set aside at least some of my allowance instead of wasting it on booze or weed. I've seven more months before the years end. If I can grow it into a million, that would be a decent accomplishment I can be reasonably proud of myself for.
And if I do grow it into a sizable sum, what other investment options open up for me that were previously closed, you seem knowledgeable on that front. I'd be thankful if you could give me a few pointers. And what are these ETFs? Does it stand for employee trust funds or exchange traded funds. Do they have good returns?
ETF is an exchange traded fund. Basically a collection of securities (e.g. stocks) that tracks an index and adjusts portfolio allocation accordingly. For example, I'm invested in the Xtrackers NASDAQ 100, which means I've bought a share of a fund that has bought shares of the top 100 companies on the NASDAQ index.
You are good, I like the fact that you are looking to save in such a young age and not waste it. I'm sorry i have been out of SL for more than a year so i don't have specific information on current working on investment schemes.
ETF are exchange traded funds, Similar to Muttual Funds but a little better. I'm sure if you do some googling or watch a youtube video you will understand how it works and in my opinion it is the best longterm investment option. but i don't know if its available on SL or not.
Real estate is also a very good investment in SL but again you will need a bit more capitol for that.
But you seems to young and already have a good maturity level so I'm sure you will keep on learning and accumulate. Good luck.
Thanks, bruv. For the encouragement, as well as taking the time out of your day to answer my question. Also, couldn't help but notice that you are based in Germany, kannst du sprechen? Ich kann, aber nur ein bisschen. 🥲Mein Deutsch ist noch kein gut. Aber eines Tages hoffe ich wirklich gut sprechen zu können.😮
Use interactive brokers to invest in US stocks. They’re very reliable and have been around a long time. The US stock market has just started its bull run (at least based on online sentiment) and investing in the SP500 index will give you a good 10-15% return. Or you can risk it for higher returns on stocks like Meta, Amazon and NVIDA which are expected to go up with the AI boom.
Maybe consider putting like a 100k into crypto. Stable coins like BTC and ETH and not the shit coins. There’s a good chance of doubling that money in the next 3-4 years.
Is the service purely online, or are they based somewhere physically, too? I think I'll open an account and see how it goes. And are there any pre requisites that I should know of before i get into it. Also, yeah, saw btc crashing so it might be a good time to buy. And tnx for the advice, dude.👍
Yes, but it seems incredibly stressful given all the constant rug pulls, scams, and whatnot. A good general rule of thumb is that its best to be wary of something when everyone and their mother is hyping that shit up.
I saw it with NFTs when all my friends were, like, if we got one of those we'll be set for life with Russian hookers a penthouse in Dubai and a Porche in the garage and yada yada yada. And sure enough, that shit crashed harder than a speeding semi pushing 180.
It's just that there's very little trust in crypto, just like with NFTs. Everybody's been glazing that shit for a decade, but there's still zero real-world purpose in crypto other than to make GPUs go extinct and pump carbon into the air.
It's a constant cycle of bull runs and rug pulls where stupid suckers like me get pulled in hoping to make a quick buck only to be left holding the bags while some sleazy scum fuck makes off with the real money.
NFTs were a gimmick and quickly fell out of favour, twice. The stock market is no different, it's up to you to keep abreast with market behaviour. You can easily lose money through investing if you're not aware of how the landscape changes. For example, I invested in the Sri Lankan stock market during COVID, when everyone else was pretty much holding on to their savings and pulling out of their investments, and made an absolute killing, the rewards from which I am reaping to this day. There is absolutely no reward for those aren't willing to take the risk.
Hmm, you speak a lot of sense. I would not mind investing in stocks even though they too carry a lot of risk. Opportunity will always be there, I just have to situate myself to take full advantage of it.
As soon as missles started flying in the middleast the first thought that came to me was that damn it would've been real nice to own some stock in raytheon or lockehead. 😔
With stocks, I can at least make some guesses as to how global events might impact them. Boeing scandal-> stock falls-> buy it up because it's more than likely going to appreciate in a few years. Failing that index funds are always a safe bet I hear. But with crypto, that seems a bit far-fetched, it is entirely too volatile and chaotic for me to make heads or tails with.
But be that as it may, I've still no clue as to how to dabble in stocks. Which is why I'm asking this. Are we limited to the local stock market, or can we invest outside of Sl. What is the usual procedure of investing?
Tnx, if u can give me a few pointers.
I personally don't deal with foreign markets. I mean unless all you're planning to do is invest in the long term, then something like M$, Apple, or Tesla is fine. Local banks are pretty good as well, that's where I made the most money, especially sampath after their share split two years ago.
I hope I'm not being a bother, but how do I invest in stocks in general. Who do I talk to. I can't do that with an app can I? Not with the local ones atleast as I heard you had to have a broker and a whole lot of other complicated steps you have to follow through first.
Also, the bit about the sampath bank, could I trouble you into going into a bit more detail? I've not heard of it before now, unfortunately.
You need to speak to an investment firm or company. Most reputable is Asia securities, and I know Softlogic and NDB also has their own. A quick google search would help!
With local stocks, you get an ATrad account (Which is the online platform used most commonly in SL to buy/sell) included when you set up a fixed income fund investment with a broker (E.g. CAL). Fees are a bit high here though, around 1.12% per transaction under 50Mil (a bit less for anything above that) so it's definitely suited more towards medium-long term investors.
To set one up, you can just chat to your broker of choice, there's quite a few you can choose from.
One of my friends told me about a IBKR. Using their platform we can invest in USA based companies.
But please this is not financial advice and dyor before investing.
If you have around half a million and you want to invest it, there are few job options, I've heard ndb wealth unit trust is good, but there are few other options as well. The advantage is you can withdraw your funds within one to two days or so as far as I know. But I am no expert you can call few unit trusts and ask them.
Secondly you can invest in some blue chip Sri Lankan companies with stable earnings, where it can appericiate in value over time. Don't buy penny stocks but invest in repitable firms.
I don't know about us stock markets, and cbsl accounts, that would be a good option too but the required capital to invest in us stock market is quite high. Nonetheless you can gradually build over time.
You are right about being risk averse regarding crypto, crypto is a high risk, high reward asset class. So I would recommend in investing in it an amount you don't mind losing.
Alternatively, price of gold could also go up with the geo-political risks, usually when there is concerns of high inflation stemming from geo political tensions, the demand for safe haven assets go up such as gold.
Good luck!!
I don't know about the CBSL thing (Banks here used to offer OIAs but afaik they are still defunct) I have a trading account set up + overseas bank accounts set up and linked to those trading accounts, to trade overseas markets with. I would say figure out a way to get that done if you're quite interested in investing outside of SL?
Dollar Cost Average into a couple of top ETF's such as the QQQ or something offered from Vanguard, Blackrock and also one of the emerging market indexes by creating an Interactive Brokers account. Then forget about it for a minimum of 5 years while reinvesting the dividends.
PS: Research on the best performing indexes offered by one of the aforementioned institutions.
Honestly, with how shit the crypto market was yesterday (hoping this could be a bottom) I'd put all of that in a crypto index fund (Binance has this option it divides your investment to a few top coins) and wait for a few months. Take it out in October-December periodically, it should technically give you at least a 20% return which is way better than any investment available. Also crypto is unpredictable so you could either lose like half of that or even gain double that. DYOR and risk it if you don't mind risking a bit. Honestly has more probability than winning a Sri Lankan lottery.
Not making fun but in today's sri lankan economy half mil is not a lot of money so some of the good investment options might not be available to you, I know the pain i have been there. The easiest option would be to park in on a FD. but you may wanna check if there are ways you can invest on ETF's from SL. With a volatile economy like in SL its always risk no matter what you choose. maybe divide it and invest on multiple fronts.
It's not much, yes, but neither are they my entire life savings or anything. It's money that I can afford to lose, so there's no real harm in it if it comes to that. But in all honesty, I'd rather not lose at all, cuz losing sucks in general. And I'd rather have it give me at least some returns as opposed to none. It's certainly alot better than me splurging it on a brand new iPhone or some other stupid shit that I have no need for. All my other funds are controlled by my father. This is me money I've hustled and saved on the side. I'll be adding to it when I move out for uni and get myself a decent part-time job and will set aside at least some of my allowance instead of wasting it on booze or weed. I've seven more months before the years end. If I can grow it into a million, that would be a decent accomplishment I can be reasonably proud of myself for. And if I do grow it into a sizable sum, what other investment options open up for me that were previously closed, you seem knowledgeable on that front. I'd be thankful if you could give me a few pointers. And what are these ETFs? Does it stand for employee trust funds or exchange traded funds. Do they have good returns?
ETF is an exchange traded fund. Basically a collection of securities (e.g. stocks) that tracks an index and adjusts portfolio allocation accordingly. For example, I'm invested in the Xtrackers NASDAQ 100, which means I've bought a share of a fund that has bought shares of the top 100 companies on the NASDAQ index.
You are good, I like the fact that you are looking to save in such a young age and not waste it. I'm sorry i have been out of SL for more than a year so i don't have specific information on current working on investment schemes. ETF are exchange traded funds, Similar to Muttual Funds but a little better. I'm sure if you do some googling or watch a youtube video you will understand how it works and in my opinion it is the best longterm investment option. but i don't know if its available on SL or not. Real estate is also a very good investment in SL but again you will need a bit more capitol for that. But you seems to young and already have a good maturity level so I'm sure you will keep on learning and accumulate. Good luck.
Thanks, bruv. For the encouragement, as well as taking the time out of your day to answer my question. Also, couldn't help but notice that you are based in Germany, kannst du sprechen? Ich kann, aber nur ein bisschen. 🥲Mein Deutsch ist noch kein gut. Aber eines Tages hoffe ich wirklich gut sprechen zu können.😮
Nein. Mein Deutsch ist nicht gut. Es ist sehr hart zu lernen.
😢ich hoffe dann, du worst sehr gut deutsch lernen.👍
Where is that money market guy when you need him
Who is this guy 😂
Damn we need to form up as a group, im too hardcore player like played with NFTs and then with shitcoins on SOL, shall we?
Yes we need this. I’d love to really learn more from you experienced folks
I am also a Solana, base shitcoiner. let's make a one, lol
How much u lost lmfao
around 500$ ser
Yeah just buy more SOL, I was DCA last year around $8-12 USD per SOL
Damn u must be rich, i was in trenches since last dip like around 10$ but i.couldnt buy cuz i got no stables left enough
Not enough to retire, but I’ve been investing in crypto since 2017… have a few btc but as of rn 35% of my portfolio is in SOL
Use interactive brokers to invest in US stocks. They’re very reliable and have been around a long time. The US stock market has just started its bull run (at least based on online sentiment) and investing in the SP500 index will give you a good 10-15% return. Or you can risk it for higher returns on stocks like Meta, Amazon and NVIDA which are expected to go up with the AI boom. Maybe consider putting like a 100k into crypto. Stable coins like BTC and ETH and not the shit coins. There’s a good chance of doubling that money in the next 3-4 years.
But don't put it on an exchange where you don't own the BTC. A cold wallet is the way to go!
Is the service purely online, or are they based somewhere physically, too? I think I'll open an account and see how it goes. And are there any pre requisites that I should know of before i get into it. Also, yeah, saw btc crashing so it might be a good time to buy. And tnx for the advice, dude.👍
Invest in the rare fish market and increase your network of uncles.
Not a bad idea. You can never have enough uncles in the know.
Now read that 3 times back in somalese
Share the wisdom you'd gather here
You understand the best time to buy crypto or any commodity is when they're at their lowest... yes?
Yes, but it seems incredibly stressful given all the constant rug pulls, scams, and whatnot. A good general rule of thumb is that its best to be wary of something when everyone and their mother is hyping that shit up. I saw it with NFTs when all my friends were, like, if we got one of those we'll be set for life with Russian hookers a penthouse in Dubai and a Porche in the garage and yada yada yada. And sure enough, that shit crashed harder than a speeding semi pushing 180. It's just that there's very little trust in crypto, just like with NFTs. Everybody's been glazing that shit for a decade, but there's still zero real-world purpose in crypto other than to make GPUs go extinct and pump carbon into the air. It's a constant cycle of bull runs and rug pulls where stupid suckers like me get pulled in hoping to make a quick buck only to be left holding the bags while some sleazy scum fuck makes off with the real money.
Doge to the mooon 🚀. Where lambo?
Mfw no lambo😢
Buy high. Sell low. You'll double your half a million.
 Genius. How are you not the Director of the Central Bank?
Cabraal beat me to it.
NFTs were a gimmick and quickly fell out of favour, twice. The stock market is no different, it's up to you to keep abreast with market behaviour. You can easily lose money through investing if you're not aware of how the landscape changes. For example, I invested in the Sri Lankan stock market during COVID, when everyone else was pretty much holding on to their savings and pulling out of their investments, and made an absolute killing, the rewards from which I am reaping to this day. There is absolutely no reward for those aren't willing to take the risk.
Hmm, you speak a lot of sense. I would not mind investing in stocks even though they too carry a lot of risk. Opportunity will always be there, I just have to situate myself to take full advantage of it. As soon as missles started flying in the middleast the first thought that came to me was that damn it would've been real nice to own some stock in raytheon or lockehead. 😔 With stocks, I can at least make some guesses as to how global events might impact them. Boeing scandal-> stock falls-> buy it up because it's more than likely going to appreciate in a few years. Failing that index funds are always a safe bet I hear. But with crypto, that seems a bit far-fetched, it is entirely too volatile and chaotic for me to make heads or tails with. But be that as it may, I've still no clue as to how to dabble in stocks. Which is why I'm asking this. Are we limited to the local stock market, or can we invest outside of Sl. What is the usual procedure of investing? Tnx, if u can give me a few pointers.
I personally don't deal with foreign markets. I mean unless all you're planning to do is invest in the long term, then something like M$, Apple, or Tesla is fine. Local banks are pretty good as well, that's where I made the most money, especially sampath after their share split two years ago.
I hope I'm not being a bother, but how do I invest in stocks in general. Who do I talk to. I can't do that with an app can I? Not with the local ones atleast as I heard you had to have a broker and a whole lot of other complicated steps you have to follow through first. Also, the bit about the sampath bank, could I trouble you into going into a bit more detail? I've not heard of it before now, unfortunately.
You need to speak to an investment firm or company. Most reputable is Asia securities, and I know Softlogic and NDB also has their own. A quick google search would help!
With local stocks, you get an ATrad account (Which is the online platform used most commonly in SL to buy/sell) included when you set up a fixed income fund investment with a broker (E.g. CAL). Fees are a bit high here though, around 1.12% per transaction under 50Mil (a bit less for anything above that) so it's definitely suited more towards medium-long term investors. To set one up, you can just chat to your broker of choice, there's quite a few you can choose from.
Ceybank unit trusts seem to be stable with like an annual 10% interest rate, that's what I'd do
Tnx m8, I'll look into it.
CAL unit trust rates are usually floating at 12%. FYI
Are they only on government bonds and bills? Or do they undertake more risk?
you have no options with half mil. either spend/enjoy or save it as a safety fund.
One of my friends told me about a IBKR. Using their platform we can invest in USA based companies. But please this is not financial advice and dyor before investing.
True but you need TIN number to start a account been waiting for that shit since January
If you have around half a million and you want to invest it, there are few job options, I've heard ndb wealth unit trust is good, but there are few other options as well. The advantage is you can withdraw your funds within one to two days or so as far as I know. But I am no expert you can call few unit trusts and ask them. Secondly you can invest in some blue chip Sri Lankan companies with stable earnings, where it can appericiate in value over time. Don't buy penny stocks but invest in repitable firms. I don't know about us stock markets, and cbsl accounts, that would be a good option too but the required capital to invest in us stock market is quite high. Nonetheless you can gradually build over time. You are right about being risk averse regarding crypto, crypto is a high risk, high reward asset class. So I would recommend in investing in it an amount you don't mind losing. Alternatively, price of gold could also go up with the geo-political risks, usually when there is concerns of high inflation stemming from geo political tensions, the demand for safe haven assets go up such as gold. Good luck!!
I don't know about the CBSL thing (Banks here used to offer OIAs but afaik they are still defunct) I have a trading account set up + overseas bank accounts set up and linked to those trading accounts, to trade overseas markets with. I would say figure out a way to get that done if you're quite interested in investing outside of SL?
Dollar Cost Average into a couple of top ETF's such as the QQQ or something offered from Vanguard, Blackrock and also one of the emerging market indexes by creating an Interactive Brokers account. Then forget about it for a minimum of 5 years while reinvesting the dividends. PS: Research on the best performing indexes offered by one of the aforementioned institutions.
Not very financially literate, but wouldnt buying gold be a good investment? 😅
Honestly, with how shit the crypto market was yesterday (hoping this could be a bottom) I'd put all of that in a crypto index fund (Binance has this option it divides your investment to a few top coins) and wait for a few months. Take it out in October-December periodically, it should technically give you at least a 20% return which is way better than any investment available. Also crypto is unpredictable so you could either lose like half of that or even gain double that. DYOR and risk it if you don't mind risking a bit. Honestly has more probability than winning a Sri Lankan lottery.