Why am I scared to invest in stocks?
I am 21 years old and I have never put a cent into the stock market. I haven’t made a 401k yet. I have no Roth IRA. I don’t trade options. I own zero blue chip stocks. I have no small cap stocks.
My family, friends, and others tell me it’s a dumb idea. I could put money in stocks, allow compound interest to do its thing and be rich off of buying blue chip stocks whenever there’s a dip in the market.
Sounds extremely easy at first. I honestly think it is the easiest way to get rich, if… you have a ton of capital to disperse, and if you don’t care to be ultra rich.
Now I also think that if you’re long term holding anything then that comes with the highest form of risk.
Who’s to say that you live to see tomorrow?
You’re holding for years from now but you want to be rich today?
What happened to trying to push yourself to a limit that seems impossible?
Now in reality you really can’t be rich tomorrow off of really anything other than luck or insider trading. Even if you’re the best day trader in the world you still need a little bit of luck on your side.
401k and Compound Interest
Compound interest, my favorite trap. Spending twenty grand a year out of your paychecks towards something that’s going to make you rich when you are 59.5 sounds great.
Yeah, no. I honestly just don’t care to have money when I’m old. I just believe there’s more to life than being rich when I’m old.
You’re probably asking what’s a less risky way then?
And honestly I’m still trying to figure that out. I would say involving yourself in a little bit of everything.
Now the real reason I really haven’t put any money into a 401k and a Roth yet is because I haven’t made enough capital to invest into it.
In a perfect world I would have enough capital to do disperse for saving, crypto, stocks, real estate, retirement accounts, and have all my expenses on auto pay.
One day I will have this figured out. All I know is that while I am young I have to be very cautious of where I am putting my money and I am not making enough to disperse into everything.
I just switched all of my assets to just $Docker, $Miggles, and $BMX…
Not gonna look at the charts for at least a week. Maybe Monday will bring good news.
$Miggles has always been the whole reason I made an account. Believe in something.
Higher.
Not financial advice but put your money in base memes and creator coins — it will pay off HEAVILY.
If you want to know what just dm me or comment below and I’ll help to the best of my capabilities.
#Miggles #Zora #base
@jessepollak@base@zora@MrMigglesOnBase
@HNWcrypto When do you think you should start taking profits? Do you take some when you get a 2x and take out your initial or do you take some when your up 20-30%