Is being broke or going broke, a normal fear to have? I am only 18 years old and I do not want to be living paycheck to paycheck or stressed out by my finances. Am I too young to be worrying about these things? With the new age and everyone my age or younger or older making money from Youtube and Youtubers getting more popular it makes me feel broke. I guess that is why I am working on myself to be all about me and All About Growth and not focus on what other people have but focus on what I have and be grateful.
I think that I have a pretty decent savings account, for someone my age. However, when I graduate college I would like to have a certain amount of money there which is why I have been seeking out new streams of income, which is mainly investing. I invest through Robinhood and my investing journey has certainly been a rollercoaster. I love the Robinhood app and I refer it to my friends and family; however, my get rich through investing was not a smart strategy. I think that two weeks after opening my Robinhood account I started option trading which was a big mistake. I did not know I had gambler tendencies but option trading has taught me that if I take a trip to Vegas I will lose all my money. Option trading was bad for me, then it got a little better, and then plummeted again. I would have 20$ gains some weeks and then 20$ losses, so I was effectively canceling out all that I made because I was losing the same amount the next time I option traded. So, right now I am sticking to the strategy of buying and holding. Long term wealth is better than short term wealth. Stressing myself out by option trading and losing money was not a good decision, while the stocks that I did buy was growing slowly I couldn't even see the growth because my pick of option trades was doing horribly.
Maybe I will try option trading in the future but as for right now I just want to buy "good" stocks and let those grow over time. I will let you guys know how my buying and holding strategy pans out over time and if I can continue to build my wealth to my goal amount before I graduate from college.
If anyone would like to create an account on Robinhood use my referral link below. By using the link you will get a free stock and I will also get a free stock for referring you. Also, you could just sign up to explore the APP before deciding if you want to start investing.
Here is my link: https://invite.robinhood.com/synovib
Maybe I will try option trading in the future but as for right now I just want to buy "good" stocks and let those grow over time. I will let you guys know how my buying and holding strategy pans out over time and if I can continue to build my wealth to my goal amount before I graduate from college.
If anyone would like to create an account on Robinhood use my referral link below. By using the link you will get a free stock and I will also get a free stock for referring you. Also, you could just sign up to explore the APP before deciding if you want to start investing.
Here is my link: https://invite.robinhood.com/synovib
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