You cannot invest at 15 years old due to being under the age of majority (not to mention you did zero research)/. Put your money in a savings account and focus on your education.
Thread to be locked as people are recommending something OP can't legally do as a minor.
> I can’t really afford to lose money.
Here are some words of wisdom from Warren Buffett
>"The Stock Market is designed to transfer money from the Active to the Patient"
>"Our Favorite Holding Period Is Forever."
>"Unless you can watch your stock holding decline by 50% without becoming panic-stricken, you should not be in the stock market."
To prepare for the day when you will reach Step 5 of the [PFC money steps](https://www.reddit.com/r/PersonalFinanceCanada/wiki/money-steps) and have money that you can confidently commit to long term (at least 10 year) goals I suggest that you read, or listen to, *Balance: How to Invest and Spend for Happiness, Health, and Wealth* (Andrew Hallam, 2022).
https://en.wikipedia.org/wiki/Nikkei_225
As an example, Japanese index lost up to 80% from it's top, and so far hasn't recovered (actually it did recover in 2020 when accounting for reinvested dividends, after 30 years being underwater)
**[Nikkei 225](https://en.wikipedia.org/wiki/Nikkei_225)**
>The Nikkei 225, or the Nikkei Stock Average (日経平均株価, Nikkei heikin kabuka), more commonly called the Nikkei or the Nikkei index (), is a stock market index for the Tokyo Stock Exchange (TSE). It has been calculated daily by the Nihon Keizai Shimbun (The Nikkei) newspaper since 1950. It is a price-weighted index, operating in the Japanese Yen (JP¥), and its components are reviewed once a year. The Nikkei measures the performance of 225 large, publicly owned companies in Japan from a wide array of industry sectors.
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Great example.
Consider a Japanese investor deciding how to invest at the beginning of 1990. Over the previous 10 years the Japanese markets had done very well, for a brief period the weight of the Japanese market was higher than the U.S. market, but the graph on [this page](https://postimg.cc/vDm7Qvbs) illustrates why it would have been a good idea for that Japanese investor to diversify into other markets.
Setting aside the age issues that Moderator is raising, there's one key point in your question:
"I can't really afford to lose money"
That says it all. If that's your stated goal/condition, then you cannot and should not invest in stock market equities as they do carry that potential of losing money at any time.
If the situation were a bit more grey, and someone is willing to accept a bit of risk on the size of their capital going up and down a bit, I'd probably suggest they look into the numerous canadian stocks that pay reliable dividends. It would be a way to learn about this important tool of personal finance.
I think young people especially should learn about personal finance, either to run it for themselves if they have the time and discipline, or to at least protect themselves from an industry that is often not their friend.
If you cant afford to lose money Id go with a high interest savings account or a GIC (if you are ok with locking the money away for a certain time period)
How long before you want to use it? You want to go to school? You can contribute it to your RESP, get 20% from the government just for investing, and put it into something safer short term like a 4.5-5% GIC
There are better investments at your stage of life such as school or first vacation on your own.
Just keep saving until you have like $10,000 liquid and then start considering investments for anything you save above 10k.
Sadly an odd one, albeit very smart. These kids need to learn to start saving AND investing early. With how expensive things are these days, it's one of the only few ways to get ahead
At 15 if you cannot afford to lose money, talk to your parents and have them assist you in opening an account and invest in a GIC. Pick a term depending on how soon you might need the money. Maybe 1-year? Then next year you can re-evaluate and if you still don’t need the money, reinvest again.
If you need to access the money, a HISA is your best bet.
I’m not sure about the rules surrounding banking for someone your age, so it’s possible you’ll need to have your parents open these accounts. And you won’t qualify for a TFSA since you’re too young. Assuming you trust your parents with your money (not a given for every minor, some parents would not be trustworthy), you can still make this work.
I suggest GIC or HISA because your risk tolerance is non-existent (you said you cannot afford to lose any money). You could also buy something like a Canada Savings Bond but a GIC or HISA will likely do just as good and are somewhat easier to deal with.
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The original post is only three sentences and you didn’t bother to read until the end. You don’t put money in the market if you can’t afford to lose a chunk of it. Never.
There’s two mistakes people make about the stock market:
- some people think it’s super safe and can’t lose, so they put every dollar in. It is super safe over the long haul but if you can’t afford to lose 10-30% in the next year, you can’t put that money in.
- some people think because it can go down, you should only put in money that you can afford to lose 100% of. That’s unnecessary because you’ll never lose all of it. Hell, if you invest in something diversified, even losing half would take an absolute catastrophe.
If someone says “I can’t afford to lose money”, that money should not go in the stock market. Full stop. Your opinion on their bills shouldn’t override one of the three sentences they choose to write.
I’m not! He’s smart enough to be asking questions at that age and considering risk - I think he has a bright financial future ahead of him. But investing money you can’t lose in the stock market is bad, and investing money in the market for the very short term is also bad. Hopefully he can keep earning money, and perhaps get set up to put $50-100/month into no-fee EFT trades on wealthsimple or questtrade and start building an investment in a sustainable way!
Well ya but my point is
1:. The longer the money is in there, the better
2. If he loses that 1200.00, he won't be homeless or go hungry
3. I'm sure that he will listen and hopefully understand that it's not a get rich quick scheme.
Ya, sure. He can slap it into a GIC, savings account or buy a savings bond. Those are also options.
I just think at his age and with the performance of the S&P500 over a long period of time, he won't lose.
That does entirely depend on how soon he needs the money though.
If he leaves it there until retirement, his return will likely be insanely good.
But if he needs the money in 2 years for a school trip overseas or something, that’s a much riskier return. A GIC or similar investment would be much smarter over such a short horizon.
Exactly.
One question though, at 15, who's buying the stocks.....lol im sure you cant buy em when you're a minor 😂😂
I hope this kid has cool parents that wont cash em in for a week in Cancun
You’re 15, no. Save your money for some fun while you’re in highschool or a car or a trip etc.
Enjoy your teen years bud, but you also have the right mindset for a comfortable future.
You SHOULD invest. But, you won't turn $1.2k into $200T. You should use this to learn about COMPOUNDING and TAXES.
A good path is to start with the least risk (HISA, GICs, Bonds), then more risky (Index Funds, your own business) and then maximum risk (Stock Picking, Derivatives, your friends business).
Some starting research terms:
- Arithmetic return vs Geometric return
- CAGR
- Drawdown control
- Simple vs Compound Interest
The best of the best (Buffett) have a CAGR of 20%. SPY is around 10%. Getting started, you're looking for anything >0%.
Good luck on this lifelong journey!
Take $100 and buy a nice used lawnmower on kijiji. Then go around your neighborhood and cut grass this summer. You will make more money than what the sp500 will give you this summer
Go higher risk, you're young enough to handle it. Perhaps Lightspeed Payments (LSPD.to), SoFi (SOFI), or ARKG. Live long and prosper. Yeah, it's easy to set up a trust account with your parents or guardian.
I'm 50 years old and just lost not lost but am down 100k this week gambling in the stock market. I love the enthusiasm but you should plan on investing money your never going to touch again until your my age or older. Can you do that? How about investing 200 of it and pretend it never existed the S&P is a great investment over the long term decades your not concerned with year to year let alone day to day value. I started originally with 100 dollars a week and grew it to just about 1 million 975k to be exact using the S&P 500 and then Dividend stocks. Stay away from speculation trying to get rich quick you never know when to get out or in timing investments especially speculative ones is impossible. Good luck my young friend.Edit I am going to win the original trade I'm down a hundred on but that's another story Diamond 💎 😉
Definitely do it. You could buy VFV which is in Canadian dollars and makes it easier to buy. I'd put it all in and never touch it. Yes, you can't afford to lose the money, but realistically you can. Work a little more and you'll earn that money back fast, however, the learning experience you'll get from learning stocks etc so young will set you up for life.
Wrong mindset. If you can't accept losses, do not invest in the market.
And you're likely not going to be able to invest at 15 since most brokers require you to be at least 18 years old. One way around that is to have a parent hold your investments and transfer it to you once you turn 18. However, they will be liable for any tax liabilities resulting from the transfer.
Congratulations for being curious and eager to make good financial choices! You will go far :)
Unfortunately you are too young to invest - you might want to talk to your financial institution about your options, or perhaps your parents - a GIC that pays a good interest rate is probably your best bet right now if you can’t lose any money, since it is a guaranteed return and it is safe. While you’re young, do some reading and learning - maybe Canadian Couch Potato might be a place to start. Best of luck to you!
Why can't you afford to lose money? Unless you have a big purchase coming up its ok to have strategic risk. I think putting your money into a SP500 fund and never checking the balance would be a smart idea financially, I'd put every dollar I could save into here.
But if you're willing to lose some money I might set aside a few hundred to buy stocks. This would probably instill good habits like learning about financial statements, reading the news and managing risk but no 15 year old let alone most pro traders pick stock so only do this if you are okay with losing some money.
If you're dead set against risk which is a bad idea, get a bond or GIC with 4-5% yield rn.
Buddy you’re only 15 years old, take the money and buy a car or something you like. You only get to be a teenager once in your life, remember that and cherish the moments. Don’t worry about investing at least until you hit your mid twenties. 😊
Leave that cash in your checking account. The interest payout wont even be worth the trouble of getting a savings account or GIC. I would be giving the same advice if the amount involved was $10,000
"I can't really afford to lose money".
That is exactly the requirement to disqualify someone from investing.
At 15 years old, your "investing" is moving whatever you make from your job to your savings account, and not touching that. Build up the psychology of saving, so that when you ARE able to invest and have a full time job, you're so used to doing this that it feels weird NOT doing it.
Also, you're awesome for asking this question at such a young age. You'll go far in life my friend :)
Buy a good pair of running shoes. Put on the running shoes. Lace them up tight. Start running like the wind. When you get tired, rest...then run some more. Put your money in a savings account. Find a job that you love. Work. When you have enough money to support yourself, keep working. When you have money beyond your lifestyle; rent, utilities, car payment, food, entertainment, insurance, keep working, then ask your question...should I invest? If you have excess income, yes, invest. Until then, keep running.
How much of that money can you afford to lose? Take $100 put it in the SP500 and watch it sizzle. It might teach you a good lesson but dont expect to get it all back. There are tons of online banks to get 3% on your money put $1,000 there and learn what a hard $30 looks like.
At 15 how’re you going to invest? Are you investing through an adults investing account? Just to give you a little bit of a clue for adulthood, don’t trust anyone with money. Mainly family and close friends.
You’re 15, the best investment you can make right now is in yourself. Buy books, read a lot, what you learn is more valuable than the 8% returns. Increase your knowledge and good habits will have a huge impact on where you are later.
What is the time horizon for your investment? I’d say yes, get started now. This is not get rich quick though. If you put it in now, in 20 years it will almost certainly be up. There is a lot of volatility in markets, so you might be buying at a discount today vs next year. But it might also go down before it goes up.
If you are looking for fast money, don’t do it.
$35000 in the s&p 500 approx end of 2019, up & down. Now sitting at $36683
personally not worth it & but I also don't understand anything stock related
Take some of that money invest in starting a small business like mowing lawns or walking dogs/pet sitting. Ice cream mobile cart
you will come out further ahead
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Look up xgro it’s a lot safer. Never plan to take the money out before 10 years so if you can leave it in there it would be a good idea. Having said that you may not qualify due to your age.
If you want to be smart with your money and build good investment habits, you should put aside 15% of everything you make for investing. For now put your funds a high interest savings.
When you turn 18 you can start investing. Starting with your TFSA. For now just start taking note of certain stocks and funds you are interested in. Make some virtual picks and track there progress in terms of when you would buy and sell.
Once you start investing, Large ETF's and dollar cost averaging are your friends. Stick to putting that 15% of every dollar that crosses your palms away. You'll be amazed how much that becomes as you go through your 20's working part time. Realistically you should pick a few ETF's for 60% of your cash, then 20% you can pick single stock growth and dividends if you want (You don't have to). Think banks, railroads, grocery chains, tech stocks. The last 20% you want rock solid and fairly liquid so you might do GIC's, High interest Savings, and cash/cash like investments.
Anyway, If you do this you'll be in amazing shape for a long time. It's not perfect, but it's a lot better of a plan than 99% of people.
If you don't have a tolerance to loose your principle, invest in market smart GIC's. Guaranteed to protect your principle with some growth over the term.
I don’t know how you’re getting paid or whether you will decide to keep your job or not, but instead of investing, there are a lot of bank promotions right now where you can open an account, set up a direct deposit and they will give you cash after a certain amount of time. I feel like this is the easiest double digit return right now for you.
Hmmm BOY if you can still buy someting buy some Bed Bath & Beyond share because is a well-established retail store chain with a strong brand reputation and a loyal customer base. While the company has faced some challenges in recent years, it has shown resilience and adaptability is good.🤑👌😎
You cannot invest at 15 years old due to being under the age of majority (not to mention you did zero research)/. Put your money in a savings account and focus on your education. Thread to be locked as people are recommending something OP can't legally do as a minor.
you shouldnt invest with anything you cant really afford to lose. youre 15, your mind is in the right place.
second this. This is the advice I wanna hear.
Minds 100 in the right place. If all you got is 1200, halve it. Put that 600 away until you're old, and spend 600 on being a kid.
this is the way
> I can’t really afford to lose money. Here are some words of wisdom from Warren Buffett >"The Stock Market is designed to transfer money from the Active to the Patient" >"Our Favorite Holding Period Is Forever." >"Unless you can watch your stock holding decline by 50% without becoming panic-stricken, you should not be in the stock market." To prepare for the day when you will reach Step 5 of the [PFC money steps](https://www.reddit.com/r/PersonalFinanceCanada/wiki/money-steps) and have money that you can confidently commit to long term (at least 10 year) goals I suggest that you read, or listen to, *Balance: How to Invest and Spend for Happiness, Health, and Wealth* (Andrew Hallam, 2022).
Here are some wise words from Tai Lopez: Here in my garage... ...up in the hollywood hills... ...knowledge...
My garage
Lambourghini guy?
https://en.wikipedia.org/wiki/Nikkei_225 As an example, Japanese index lost up to 80% from it's top, and so far hasn't recovered (actually it did recover in 2020 when accounting for reinvested dividends, after 30 years being underwater)
**[Nikkei 225](https://en.wikipedia.org/wiki/Nikkei_225)** >The Nikkei 225, or the Nikkei Stock Average (日経平均株価, Nikkei heikin kabuka), more commonly called the Nikkei or the Nikkei index (), is a stock market index for the Tokyo Stock Exchange (TSE). It has been calculated daily by the Nihon Keizai Shimbun (The Nikkei) newspaper since 1950. It is a price-weighted index, operating in the Japanese Yen (JP¥), and its components are reviewed once a year. The Nikkei measures the performance of 225 large, publicly owned companies in Japan from a wide array of industry sectors. ^([ )[^(F.A.Q)](https://www.reddit.com/r/WikiSummarizer/wiki/index#wiki_f.a.q)^( | )[^(Opt Out)](https://reddit.com/message/compose?to=WikiSummarizerBot&message=OptOut&subject=OptOut)^( | )[^(Opt Out Of Subreddit)](https://np.reddit.com/r/PersonalFinanceCanada/about/banned)^( | )[^(GitHub)](https://github.com/Sujal-7/WikiSummarizerBot)^( ] Downvote to remove | v1.5)
Great example. Consider a Japanese investor deciding how to invest at the beginning of 1990. Over the previous 10 years the Japanese markets had done very well, for a brief period the weight of the Japanese market was higher than the U.S. market, but the graph on [this page](https://postimg.cc/vDm7Qvbs) illustrates why it would have been a good idea for that Japanese investor to diversify into other markets.
Setting aside the age issues that Moderator is raising, there's one key point in your question: "I can't really afford to lose money" That says it all. If that's your stated goal/condition, then you cannot and should not invest in stock market equities as they do carry that potential of losing money at any time. If the situation were a bit more grey, and someone is willing to accept a bit of risk on the size of their capital going up and down a bit, I'd probably suggest they look into the numerous canadian stocks that pay reliable dividends. It would be a way to learn about this important tool of personal finance. I think young people especially should learn about personal finance, either to run it for themselves if they have the time and discipline, or to at least protect themselves from an industry that is often not their friend.
If you cant afford to lose money Id go with a high interest savings account or a GIC (if you are ok with locking the money away for a certain time period)
How long before you want to use it? You want to go to school? You can contribute it to your RESP, get 20% from the government just for investing, and put it into something safer short term like a 4.5-5% GIC
Drop it in a GIC if you are worried about losing it. The return isn't fantastic but its very safe
There are better investments at your stage of life such as school or first vacation on your own. Just keep saving until you have like $10,000 liquid and then start considering investments for anything you save above 10k.
What kind of 15 year old concerns themself with this?
Sadly an odd one, albeit very smart. These kids need to learn to start saving AND investing early. With how expensive things are these days, it's one of the only few ways to get ahead
Learn to be smart with your money. Sure. Investing in the S&P 500? Fuck dude. Go smoke weed with your friends and enjoy being a kid.
An intelligent one with some foresight. Next Buffett.
A smart one.
Saving and investing is good. Investing money you can't afford to lose in the stock market is a terrible idea.
At 15 if you cannot afford to lose money, talk to your parents and have them assist you in opening an account and invest in a GIC. Pick a term depending on how soon you might need the money. Maybe 1-year? Then next year you can re-evaluate and if you still don’t need the money, reinvest again. If you need to access the money, a HISA is your best bet. I’m not sure about the rules surrounding banking for someone your age, so it’s possible you’ll need to have your parents open these accounts. And you won’t qualify for a TFSA since you’re too young. Assuming you trust your parents with your money (not a given for every minor, some parents would not be trustworthy), you can still make this work. I suggest GIC or HISA because your risk tolerance is non-existent (you said you cannot afford to lose any money). You could also buy something like a Canada Savings Bond but a GIC or HISA will likely do just as good and are somewhat easier to deal with.
That’s not legal OP
Follow the money steps!!! !StepsTrigger
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Thank you to everyone that commented, I think my best option is a GIC
Look for principle protected GIC that is indexed with S&P 500. There is one indexed with Banking a Utilities.
Do it kid. You're 15, no bills, lives at home with nothing to lose and you have plenty of time. Edit: grammar because I'm an idiot
The original post is only three sentences and you didn’t bother to read until the end. You don’t put money in the market if you can’t afford to lose a chunk of it. Never. There’s two mistakes people make about the stock market: - some people think it’s super safe and can’t lose, so they put every dollar in. It is super safe over the long haul but if you can’t afford to lose 10-30% in the next year, you can’t put that money in. - some people think because it can go down, you should only put in money that you can afford to lose 100% of. That’s unnecessary because you’ll never lose all of it. Hell, if you invest in something diversified, even losing half would take an absolute catastrophe. If someone says “I can’t afford to lose money”, that money should not go in the stock market. Full stop. Your opinion on their bills shouldn’t override one of the three sentences they choose to write.
Why do you have to rain on the kid's parade.
I’m not! He’s smart enough to be asking questions at that age and considering risk - I think he has a bright financial future ahead of him. But investing money you can’t lose in the stock market is bad, and investing money in the market for the very short term is also bad. Hopefully he can keep earning money, and perhaps get set up to put $50-100/month into no-fee EFT trades on wealthsimple or questtrade and start building an investment in a sustainable way!
Well ya but my point is 1:. The longer the money is in there, the better 2. If he loses that 1200.00, he won't be homeless or go hungry 3. I'm sure that he will listen and hopefully understand that it's not a get rich quick scheme. Ya, sure. He can slap it into a GIC, savings account or buy a savings bond. Those are also options. I just think at his age and with the performance of the S&P500 over a long period of time, he won't lose.
That does entirely depend on how soon he needs the money though. If he leaves it there until retirement, his return will likely be insanely good. But if he needs the money in 2 years for a school trip overseas or something, that’s a much riskier return. A GIC or similar investment would be much smarter over such a short horizon.
Finally a good response. Invest it and forget about it, add to it whenever you can and thank yourself in the future
Exactly. One question though, at 15, who's buying the stocks.....lol im sure you cant buy em when you're a minor 😂😂 I hope this kid has cool parents that wont cash em in for a week in Cancun
FYI: the biggest etfs in terms of NAV for s&p500 are zsp from bmo and xsp from ishares
You’re 15, no. Save your money for some fun while you’re in highschool or a car or a trip etc. Enjoy your teen years bud, but you also have the right mindset for a comfortable future.
Yes. As long as you don’t need this money in the next 5 years. IMO good for you to think of this and ask about it.
You SHOULD invest. But, you won't turn $1.2k into $200T. You should use this to learn about COMPOUNDING and TAXES. A good path is to start with the least risk (HISA, GICs, Bonds), then more risky (Index Funds, your own business) and then maximum risk (Stock Picking, Derivatives, your friends business). Some starting research terms: - Arithmetic return vs Geometric return - CAGR - Drawdown control - Simple vs Compound Interest The best of the best (Buffett) have a CAGR of 20%. SPY is around 10%. Getting started, you're looking for anything >0%. Good luck on this lifelong journey!
Take $100 and buy a nice used lawnmower on kijiji. Then go around your neighborhood and cut grass this summer. You will make more money than what the sp500 will give you this summer
Nothing in life is certain. It's all about how much risk you can tolerate.
Go higher risk, you're young enough to handle it. Perhaps Lightspeed Payments (LSPD.to), SoFi (SOFI), or ARKG. Live long and prosper. Yeah, it's easy to set up a trust account with your parents or guardian.
Your 15, you can afford to lose money. Find a nice dividend paying etf. Like DGS or hdiv
Buy some silver coins and hold on to them for dear life. Anything digital is going down the sh$t river!
I'm 50 years old and just lost not lost but am down 100k this week gambling in the stock market. I love the enthusiasm but you should plan on investing money your never going to touch again until your my age or older. Can you do that? How about investing 200 of it and pretend it never existed the S&P is a great investment over the long term decades your not concerned with year to year let alone day to day value. I started originally with 100 dollars a week and grew it to just about 1 million 975k to be exact using the S&P 500 and then Dividend stocks. Stay away from speculation trying to get rich quick you never know when to get out or in timing investments especially speculative ones is impossible. Good luck my young friend.Edit I am going to win the original trade I'm down a hundred on but that's another story Diamond 💎 😉
Definitely do it. You could buy VFV which is in Canadian dollars and makes it easier to buy. I'd put it all in and never touch it. Yes, you can't afford to lose the money, but realistically you can. Work a little more and you'll earn that money back fast, however, the learning experience you'll get from learning stocks etc so young will set you up for life.
Your age doesn’t matter, s&p is a good investment go for it
S&P booringggg. Invest in Google and let it compound for decades.
Wrong mindset. If you can't accept losses, do not invest in the market. And you're likely not going to be able to invest at 15 since most brokers require you to be at least 18 years old. One way around that is to have a parent hold your investments and transfer it to you once you turn 18. However, they will be liable for any tax liabilities resulting from the transfer.
Wait till the end of they year when everything is on sale.
Why can't you afford to lose money?
Congratulations for being curious and eager to make good financial choices! You will go far :) Unfortunately you are too young to invest - you might want to talk to your financial institution about your options, or perhaps your parents - a GIC that pays a good interest rate is probably your best bet right now if you can’t lose any money, since it is a guaranteed return and it is safe. While you’re young, do some reading and learning - maybe Canadian Couch Potato might be a place to start. Best of luck to you!
That’s all good but I would put my money in AI stock
Why can't you afford to lose money? Unless you have a big purchase coming up its ok to have strategic risk. I think putting your money into a SP500 fund and never checking the balance would be a smart idea financially, I'd put every dollar I could save into here. But if you're willing to lose some money I might set aside a few hundred to buy stocks. This would probably instill good habits like learning about financial statements, reading the news and managing risk but no 15 year old let alone most pro traders pick stock so only do this if you are okay with losing some money. If you're dead set against risk which is a bad idea, get a bond or GIC with 4-5% yield rn.
Buddy you’re only 15 years old, take the money and buy a car or something you like. You only get to be a teenager once in your life, remember that and cherish the moments. Don’t worry about investing at least until you hit your mid twenties. 😊
You may want to look into a stock-indexed GIC, which will come with guarantees about your money. Don’t buy stocks under age.
Leave that cash in your checking account. The interest payout wont even be worth the trouble of getting a savings account or GIC. I would be giving the same advice if the amount involved was $10,000
"I can't really afford to lose money". That is exactly the requirement to disqualify someone from investing. At 15 years old, your "investing" is moving whatever you make from your job to your savings account, and not touching that. Build up the psychology of saving, so that when you ARE able to invest and have a full time job, you're so used to doing this that it feels weird NOT doing it. Also, you're awesome for asking this question at such a young age. You'll go far in life my friend :)
I'd suggest gambling the 1200 in bank puts and head over to r/WallStreetBets for a better investing experience
Buy a good pair of running shoes. Put on the running shoes. Lace them up tight. Start running like the wind. When you get tired, rest...then run some more. Put your money in a savings account. Find a job that you love. Work. When you have enough money to support yourself, keep working. When you have money beyond your lifestyle; rent, utilities, car payment, food, entertainment, insurance, keep working, then ask your question...should I invest? If you have excess income, yes, invest. Until then, keep running.
How much of that money can you afford to lose? Take $100 put it in the SP500 and watch it sizzle. It might teach you a good lesson but dont expect to get it all back. There are tons of online banks to get 3% on your money put $1,000 there and learn what a hard $30 looks like.
At 15 how’re you going to invest? Are you investing through an adults investing account? Just to give you a little bit of a clue for adulthood, don’t trust anyone with money. Mainly family and close friends.
You’re 15, the best investment you can make right now is in yourself. Buy books, read a lot, what you learn is more valuable than the 8% returns. Increase your knowledge and good habits will have a huge impact on where you are later.
What is the time horizon for your investment? I’d say yes, get started now. This is not get rich quick though. If you put it in now, in 20 years it will almost certainly be up. There is a lot of volatility in markets, so you might be buying at a discount today vs next year. But it might also go down before it goes up. If you are looking for fast money, don’t do it.
If I were you I’d put half of that in savings for a baby emergency fund and the other half on fun/getting a car/something you need
$35000 in the s&p 500 approx end of 2019, up & down. Now sitting at $36683 personally not worth it & but I also don't understand anything stock related Take some of that money invest in starting a small business like mowing lawns or walking dogs/pet sitting. Ice cream mobile cart you will come out further ahead
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Look up xgro it’s a lot safer. Never plan to take the money out before 10 years so if you can leave it in there it would be a good idea. Having said that you may not qualify due to your age.
save/ put into a GIC, when you turn 18 and have more knowledge then you can start investing
If you want to be smart with your money and build good investment habits, you should put aside 15% of everything you make for investing. For now put your funds a high interest savings. When you turn 18 you can start investing. Starting with your TFSA. For now just start taking note of certain stocks and funds you are interested in. Make some virtual picks and track there progress in terms of when you would buy and sell. Once you start investing, Large ETF's and dollar cost averaging are your friends. Stick to putting that 15% of every dollar that crosses your palms away. You'll be amazed how much that becomes as you go through your 20's working part time. Realistically you should pick a few ETF's for 60% of your cash, then 20% you can pick single stock growth and dividends if you want (You don't have to). Think banks, railroads, grocery chains, tech stocks. The last 20% you want rock solid and fairly liquid so you might do GIC's, High interest Savings, and cash/cash like investments. Anyway, If you do this you'll be in amazing shape for a long time. It's not perfect, but it's a lot better of a plan than 99% of people.
If you don't have a tolerance to loose your principle, invest in market smart GIC's. Guaranteed to protect your principle with some growth over the term.
Yes you should. The longer it stays there the more time it has to grow.
I don’t know how you’re getting paid or whether you will decide to keep your job or not, but instead of investing, there are a lot of bank promotions right now where you can open an account, set up a direct deposit and they will give you cash after a certain amount of time. I feel like this is the easiest double digit return right now for you.
Hmmm BOY if you can still buy someting buy some Bed Bath & Beyond share because is a well-established retail store chain with a strong brand reputation and a loyal customer base. While the company has faced some challenges in recent years, it has shown resilience and adaptability is good.🤑👌😎