I'm 16 and just don't know where to start.
My goal in life is to enjoy the ride, and after countless nights of deep thinking I've figured that one of the easiest ways to increase your enjoyment on life is to become wealthy. So I've made it my goal to become a millionaire early on in life. With that being said, I understand that's a lot easier said than done but I'm determined and stubborn in achieving that goal. I joined this website in order to expand my knowledge on not just real estate investing but advice on relatively anything so that's the purpose behind my very first post.
Right now I'm sitting with:
1600$ personally saved up in my bank account
A steady paying job ($200, every other week)
My families also in the middle class.
I want to know what I should be doing right now with that income and my 1600$ saved up. Should I start investing? Where? How? How much money should I invest? What do I invest in? I'm actively searching for answers and I thought this website could be a shortcut. So feel free to give me advice. Any advice is appreciated!
Most Popular Reply
Since you're still very young and without much money, I would use that money to first invest in yourself. You should buy & read books, and lots of them. Specifically real estate, personal finance, business, and self-development books. Listen to the BiggerPockets podcasts, read the blogs, and learn from any other resources you can get your hands on.
While you're doing that, some other things you should do:
- Apply yourself in school
- Keep working your job or find a higher paying one
- Learn a valuable/marketable skill you could monetize and turn into a business.
You really don't have enough money to the point where it's worthwhile to start investing. There are no shortcuts to becoming wealthy or successful. You have to take consistent action over a long period of time in systems with leverage that allow you to work smart AND hard to get magnified returns.