So, if you were taking this advice......... <iframe width="420" height="315" src="https://www.youtube.com/embed/k5hWWe-ts2s" frameborder="0" allowfullscreen></iframe>
Get on Investopedia website. They have a market intro for newbies and it's somewhat interesting to read. http://www.investopedia.com/investing/investing-basics/ Also someone mentioned Ramit Sethi's personal finance book here a while ago. It has some great ideas. Also James Altucher's Choose Yourself is outstanding.
I started late february this year and i made/gained a little over 40% of my money in stocks here in the Philippines.. I'm starting to love this stuff
-Write a book -Become an Artist -Become a Trainer -Walk and Care for Dogs -Teach Kayak -Real Estate Agent. -You'd also be surprised how easy it is to become a small town judge if you hang around the courtrooms in several states and get to just talking. What you want to do is something fun that can be done in your spare time. So you enjoy it. And if it doesn't pan out no big deal. But something like real estate is very good because it gives you a second skill set for when you lose your job later in life, which is likely to happen at some point to everyone.
While this is a risky idea you could invest in a house and live there for a year or so and rent it out assuming it is a good rental market in your area. If Houston, i am guessing prices are still high now but rental market is probably decent too. I live in DfW and housing and rental market are booking so i will continue to rent out my starter home that is being paid down in a 15 year loan at a low interest rate. Of course house was bought in 2009 so good timing i guess. It seems cash will be king soon once interest rates rise but who knows if we will ever get back to high yield CDs and money matket accounts like in 2007. It is a volatile time right now. I invest as well but i am not sure this is the right time to start investing in taxable accounts. Contribute at least 10% to 401k after funding emergency fund (important step!) If not sure if you want to be a landlord then the stock market is about the only place to earn a little on your money. The 2 safest stocks IMO are Apple and Exxon Mobil. They treat shareholders well and both are undervalued at this point IMO. Would have to be somewhat long term on this and maybe contribrute a certain amount of excess income per month? You can but Apple at no commission and setup monthly deposit through Loyal 3 website. Exxon Mobile stock can be purchased directly from Computershares. Com and monthly deposits can be made as well. I do feel bad for younger Millenials that have been gun shy by the stock market. I think some are coming around to it but they may be entering at a volatile time. Good luck to you on this and report back. Having excess income is a good thing so being cautious with it is okay too but there are still some ways to make your money work for you if you know where to look.
^^^ Forgot to mention that loyal 3 does not do automatic dividend reinvestment but computershares does which is great since you want to accumulate as many shares in these companies as possible over a long period of time. Once you get your feet wet you can expand your portfolio but a small amount of stocks is better than too many. You might as well invest in a dividend aristocrat ETF if you want a ton of diversification. Taking calculated risks while you are young and single is best time to do it as long as it is money you don't need this second. Also, when you do buy a house, pay 20% so you don't have to pay PMI which is just throwing money away. If you can't save for a down payment, you can't afford it.
5 - 10% annual returns on a market index fund like You could telemarketing at night, or some kind of inbound customer service. You be a night auditor at a hotel. You could learn to tend bar, then offer to do the books or work with vendors to the point that you know how to run a retail business. You could buy some trucks at auction and hire some subcontractors and start a local shipping business, or start a landscaping or janitorial business. You could also buy some crappy condos, clean them up and rent them out. The only probably with doing that in Houston is your HOA fees basically double your mortgage payment.
So you plan on saving up money to buy a house before you start a business? It stands to reason that, if your business is successful, you could have an easier time buying a house. You should get on that business plan of yours. Right now, it seems like you don't have all that much to lose, so its the best time to go and do something risky like starting a business. The more you have to lose, the harder its going to be to get a business going. Just my two cents.
