I need help..so heres a good question for you!

[Wtg78]

I still have all of my stimulus money. I stuck it in a high yield CD and I just keep renewing it for the highest rate I can get. Between all three payments it was $3200 for me. I just keep rolling it over with the interest, an average of about 6% APY. It has already made me a hair over $1000 on it's own. If I can keep averaging 6% APY over the next 20 years and just keep rolling that interest back in, I will have about $10,000. As long as the bidenomics train doesn't keep wrecking our economy, that may even be worth something lol.

Wish I would have done that. I want to invest but I have no clue what I'm doing tbh. I wanted to invest in some AI stock but don't know who or how .

 

[ImpulseRocket]

Wish I would have done that. I want to invest but I have no clue what I'm doing tbh. I wanted to invest in some AI stock but don't know who or how .

Before you dive into investing it's a better idea to build up a strong savings first. Figure out how to live without at least 10-15% of your post tax income, then have that auto-deposited into a savings account or two, one of which you can't access easily and one that you can. The more you can manage, the better. I put 25% of my post tax income into 2 savings accounts. Build it up to a point where you could live on just that account with all of your "needs" covered for at least 6 months.

Once you have done that, then worry about investing, and shift that money from savings to retirement or other such investments.

 

[Chainlube]

Basically. He lives in an old camper trailer in his mom's yard, and plays video games all day.

That is figuratively a mommy's basement.

 

[Wrench]

It's a shame. I thought the "stimulus checks" during the "pandemic" was the stupidest thing. My dad ended up using them to do some much needed repairs to the house, so if anything we worked harder to get stuff done around the house, and no one took a break from working.

2021 I got a $2k stimulus check and bought an E Bike

I also sent one to @DAMIEN1307 but it seems to be still in the mail

 

[Wtg78]

Before you dive into investing it's a better idea to build up a strong savings first. Figure out how to live without at least 10-15% of your post tax income, then have that auto-deposited into a savings account or two, one of which you can't access easily and one that you can. The more you can manage, the better. I put 25% of my post tax income into 2 savings accounts. Build it up to a point where you could live on just that account with all of your "needs" covered for at least 6 months.

Once you have done that, then worry about investing, and shift that money from savings to retirement or other such investments.

Thank you for the feedback so I know not to waste my time in investing at this point and stage, but to instead manage up savings and make It work for me. I get it ...makes sense.

 

[ImpulseRocket]

Thank you for the feedback so I know not to waste my time in investing at this point and stage, but to instead manage up savings and make It work for me. I get it ...makes sense.

t's about building financial stability. Having a nest egg to back you up when the hard times come is critical. You can also manage to invest and save at the same time if you have enough extra income. I am blessed at this point in my life with the ability to do both, and do both with a lot more money then I have been able to do so with before, but it has not always been as such.

No matter what you do, the real challenge is not touching that money. Also, avoid debt as much as you can. That will give you a huge leg up over other people.

 

[robe]

t's about building financial stability. Having a nest egg to back you up when the hard times come is critical. You can also manage to invest and save at the same time if you have enough extra income. I am blessed at this point in my life with the ability to do both, and do both with a lot more money then I have been able to do so with before, but it has not always been as such.

No matter what you do, the real challenge is not touching that money. Also, avoid debt as much as you can. That will give you a huge leg up over other people.

That is the best advice going. I'm not joking or kidding by saying that.
Few follow the best advice. I'm no exception to that statement.
If you can follow what has been outlined above, you will be so far ahead of others.

 

[Wtg78]

t's about building financial stability. Having a nest egg to back you up when the hard times come is critical. You can also manage to invest and save at the same time if you have enough extra income. I am blessed at this point in my life with the ability to do both, and do both with a lot more money then I have been able to do so with before, but it has not always been as such.

No matter what you do, the real challenge is not touching that money. Also, avoid debt as much as you can. That will give you a huge leg up over other people.

I'm definitely at near poverty level. I work but it just pays thr bills I get lucky and get things from people from time to time cause I helped them. or somebody of grand gesture needed my service with whatever.i kinda wing s**t in my life and mostly loose but when it comes to people at least the ones that know me I have a good name and good names that are trustworthy, honorable, and stable usually at least in my case find people that love to help as much as I do. It's not always that way but you show gratitude and a kind heart it is sometimes given back. Either way not sure if I'm gonna use a paycheck or my taxes ...I'm thinking taxes is my beat bet cause I don't see it other than on paper and it won't enter my hands and i.didmt have it all yr so what do I need it for now is how I'm gonna look at it. Thank tho for the great input on something I been wondering on weather tondo or not.

 

[Dogsoldier]

I'm definitely at near poverty level. I work but it just pays thr bills I get lucky and get things from people from time to time cause I helped them. or somebody of grand gesture needed my service with whatever.i kinda wing s**t in my life and mostly loose but when it comes to people at least the ones that know me I have a good name and good names that are trustworthy, honorable, and stable usually at least in my case find people that love to help as much as I do. It's not always that way but you show gratitude and a kind heart it is sometimes given back. Either way not sure if I'm gonna use a paycheck or my taxes ...I'm thinking taxes is my beat bet cause I don't see it other than on paper and it won't enter my hands and i.didmt have it all yr so what do I need it for now is how I'm gonna look at it. Thank tho for the great input on something I been wondering on weather tondo or not.

When a person leaves this earth the only thing he leaves behind is a good name.

 

[Dogsoldier]

When a person leaves this earth the only thing he leaves behind is a good name.

Hang in there and never quit or give up!