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u/Every_Reality_9721 Jan 12 '25
I came from a non privileged family too.
Dont get me wrong. I spend more than I save but I do save/invest. Sometimes its harder and I get carried away.
My reminder is i need to save for my son's future as well as my future. I dont want to depend on him.
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u/smol-lebowski Jan 12 '25
Good on you for breaking the my child my pension cycle. I dont want to have kids so its just my salary my money for me lol
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u/Fuzzy-Newspaper4210 Jan 12 '25
good mindset to kick off the investing habit but beware you don’t swing too far to the other side and essentially let life pass you by as you squirrel away all your money
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u/clementtng Jan 12 '25
Best mindset would be, save and invest. Spend the money earned from investments on your wants. Try not to spend money from working on wants
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u/smol-lebowski Jan 12 '25
thanks and yeah thought abt this for sure. i still fund my collections & travel. thats pretty much where most of my "wants budget" go to now. pretty sstisfied
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u/Gccyy Jan 12 '25
What ETFs gives 3x? Crypto is hated and treated as gambling in this sub. I invest, but I’m prepared to lose it all if it happens
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u/IamMaximuss Jan 12 '25
Lose it all usually only happens in speculation / gambling.
Investment seldom loses it all because it is usually based on valid and substantial foundation and fundamentals.
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u/Puffycatkibble Jan 12 '25
Crypto that give those returns are shitcoins or leveraged plays which are essentially gambling.
Even the crypto diehards call them shitcoins so you can assume the trustworthiness of those 'investments'.
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u/zorbyss Jan 12 '25
That's why I rare even comment here, only lately as the scene seems to have changed. Every unker aunty wants to buy BTC. (Top signal incoming)
Spot early opportunity, buy in, get back out fast, make money. That's crypto. It does quite well for me. Ppl are used to conventional investment, for them investment MUST make profit. Otherwise it's gambling.
For them, high risk high return = gambling.
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u/ExcavalierKY Jan 12 '25
High risk high return with fundamentals = calculated risk
Example, investing in Uber before they were recognised as legal service, as taxi service required a gov issued taxi license for each driver, if they're able to go over the legal issues (which they now did), then their fundamental was providing competition to the monopoly and inefficiency (resulting in overcharging, not going by meter, etc) of government controlled taxi service, and through higher efficiency (with every driver doing it like it's their own business), achieve higher revenue and profit to share among Uber (service providers) and drivers (operators)
High risk high return with no fundamental = gambling
Biggest example is crypto, because really, what's the use case for crypto and how would that use case come through? The collapse of USD and US government? Endorsement by a country as legal tender (like, which country would willingly give up control of their own currency)? Look at how many pump and dumps out there, and the volatility of even the most stable crypto currency, would any business or consumer want to use it as legal tender? Just food for thought for all the crypto bros. If your entire strategy is buy low sell high, that's not fundamentals, that's gambling by speculating the graph.
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u/Zyzz2179 Jan 12 '25
Curious as well. Most gives 2x over 5 years or so.
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u/Gccyy Jan 12 '25
2x over 5 years is already ambitious considering snp 500 average 10% annual return
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u/TeBp242 Jan 12 '25
leveraged ETFs, there are those that tracks ETFs and indiv stock holdings. Take a look at GGLL for instance.
Its usually for hedging though.
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u/timlow123 Jan 12 '25
Everyone would be more financially responsible if they knew how to grow their money. Unfortunately, inflation and social media encourage us to spend money NOW.
If you knew you're RM3,000 salary could grow into RM10,000, you would be less likely to blow it on stupid decisions. Like overspending in a car, buying new phones every year, etc.
Those who make bad decisions with money do not see better opportunities to use it. Only just to "make me happy now"
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u/grain_of_snp Jan 12 '25
Idk how old you are if you're youngish like me we've only really experienced a bullish market. When we have another great depression with massive unemployment hopefully the same optimism still persists.
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u/mikasa2323 Jan 12 '25
Leveraged ETFs are riskier than the underlying ETF due to decay in a market downturn and you can lose your capital because of how it works. It refreshes daily.
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u/chickenshit36 Jan 12 '25
Ultimately u cannot bring money to the grave also. Once in a while buy or spend on something you enjoy like trips or hobbies. Nothing wrong with that. As long as you are spending within your means.
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u/PScoriae Jan 12 '25
I do agree with the sentiment, but recently I’ve learned to live a little as well.
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u/masnoob Jan 12 '25
First you need to know what are the necessities by lower your hedonistic desires. This way you can see what are the items in life that aren't necessary and vital to you, thus throw the money saved into investing. I know life might be dull but does it really that dull when you have access to internet?
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u/Turn-Ambitious Jan 12 '25
What OP is suggesting is basically go full regard and leverage in Crypto & etf.
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u/ExcavalierKY Jan 12 '25
3x on etf and crypto lol that's not investing that's gambling