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How and what should I start investing in at 18?

Discussion in 'Beginner's Lounge' started by letitgrow, Mar 30, 2018.

  1. letitgrow

    letitgrow

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    Hi all.

    I am looking to start my investment adventure.

    Over the next 5-7 years I aim to start a holding company with a dream of going global.
    I desire to be an influential figure in society and develop my knowledge of business.

    For the next year or two, my goal is to buy a car and a house.

    Now for the challenging aspects;
    My income per fortnight is around $1500.

    I would be most appreciative of any and all advice.
     
  2. So_Cynical

    So_Cynical The Contrarian Averager

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    Ambition is good, motivation essential, financial education a must, advise we cannot give.

    You can learn a lot from this forum, will take time though - good luck.
     
  3. Joules MM1

    Joules MM1 ....everything has an art

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    as you have not told of us the extent of your understanding about money, liquidity, capital and supply & demand

    let's start at the place to start
    get yourself a book by George S Glason The Rishest Man in Babylon and a basic method of building a stake with which to go on an adventure with....

    while youre going thru the process of building your stake read a thorough book by a successful trader/investor, for example Chris Tate, The Art of...

    get a subscription to The Chartist

    learn the difference between what "trading" is and what "investing" is - the difference is crucial, at least, you'll find the difference becomes a line that decides how much time you put into what youre doing to reach the goal you set for yourself

    and... set a goal !

    importantly, be clear on this: "thou shalt not kid thyself"

    https://booko.com.au/products/search?q=the+richest+man+in+babylon&product_type=1
    https://booko.com.au/products/search?q=the+art+of+trading&product_type=1
    https://www.thechartist.com.au/
     
    roialle_, penedo and Modest like this.
  4. penedo

    penedo

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    In addition to the other advice, bottom line right now I'd suggest to start building up a stake split between Berkshire Hathaway (Ticker BRK.B) and one of the S&P 500 index funds (VOO seems to track it most closely, SPY is most well known. Tick the box to reinvest dividends).

    Soul Pattinson (ASX:SOL) might be considered the Australian parallel of Berkshire so it could be a good idea to do the same with them as well.

    Whatever you do with the rest of your money later on, keep holding these ones until retirement.

    All these should be treated as long term investments (10+ years, preferably until retirement), not something to cash in for a car or a house.
     
  5. Cam019

    Cam019

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    This sounds an awful lot like advice!
     
  6. penedo

    penedo

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    Umm - do you mean to say I'm breaking some rules or laws? I'll delete my post if so.
     
  7. mcgrath111

    mcgrath111

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    Some detail would help, seems a bit vague.
     
  8. tech/a

    tech/a No Ordinary Duck

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    Work on your company
    Once you are drawing a wage which allows a surplus week in week out
    Say 3 X your fixed costs of living /House car/Rates Health insurance etc.
    You wont become an influential figure working for someone.

    Then look at investment.
    The wider the foundation the stronger your future.
     
  9. Mr Bear

    Mr Bear Businesses don’t change often, perception does..

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    You’re young, get some leverage, avoid a car if you don’t need one terrible investment, if you can’t afford a car you can’t afford a house, if you buy a house it will seriously limit your ability to build wealth in the market until you build equity or get it revalued.. and lastly a company is not the most effective structure to hold investments where the beneficial owner is a single person.

    Everyone here will have a different opinion on how you should invest, less than 5% know what they’re talking about.. and out of those you wouldn’t be comfortable or have the ability to implement the strategies yourself.. investing is no different to professional sport, it’s seriously competitive and requires years of practice and 99.99% of people aren’t capable and should leave it to professionals. Whether you will be one is up to how much effort your willing to put in.

    Good luck
     
  10. Redbeard

    Redbeard

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    Borrow for appreciating assets,,, pay in full for depreciating assets.
    Start small, and build up.. Open a Stock trading account and buy $1000 in something you like. Its then ready for when u need it or WANT it.
    Compounding is your friend at such a young age. either by yourself or through super, or both.
    Don't rely on "tax breaks" they help , but dont rely on them.. rules can change.
    Take a risk only with money your willing to loose!
    Dont believe everything you are told.... do your own research and make up your own mind.
    "Its your money , Ralph" .... dont let anyone take it away from you unnecessarily..

    Not everyone is working in your interests... they might put theirs first!!
     
    luutzu and tech/a like this.
  11. tech/a

    tech/a No Ordinary Duck

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    And which 5% would that be
    And this is known ——how.

    There is only one person I trust with my hard earned
    ME.

    Good street smarts REDBEARD
     
    Redbeard likes this.
  12. Mr Bear

    Mr Bear Businesses don’t change often, perception does..

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    What’s with the superiority comment? It’s obviosuly a guess and a warning to believe the investment advice of very few people. What’s the financial education of most of the people on this site capable of providing competent advice, my GUESS is less than 5%.
     
  13. brty

    brty

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    Only just came across this thread......

    "What’s the financial education of most of the people on this site capable of providing competent advice, my GUESS is less than 5%."

    Love to know Mr Bear what you consider financial education?

    IMHO the people on this site that have posted for over 5 years, and therefore read lots here, are probably better 'educated' on making money than most financial planners and business analysts.

    As someone with NO financial education, except in the school of hard knocks, experience, and running businesses, I find it more than interesting the number of financial planners/accountants etc that ask me for advice on share investments/trading.
     
    kid hustlr likes this.
  14. trading@riat

    trading@riat

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    Good to hear that at such a young age you seem so ambitious, you can achieve everything in the life whatever you want.
    The utmost part in the trading is knowledge, which you can gain through several mediums. Though it is quite long process so you need to be patient enough while learning. You have to keep in mind that success can't be achieved overnight.
    Initially try to learn as much as possible.
    Good luck!
     
  15. traderace_mkt

    traderace_mkt

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    First of all I must commend you for your zeal to succeed and make a difference to the society. Since you have just started you have a long journey ahead of you. Now let me remind you forex will be ride with its own set of highs and lows. Gather as much knowledge as you can and always have a money management plan in place. Keep a tight check on your emotions. You will need to cultivate a trading discipline that you should abide by. Learn from your mistakes. You will realize that experience will turn out to be your best teacher. All the very best! :)
     
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