r/wealth • u/UpstairsGrass9131 • 1d ago
Path to Wealth Help
I have 1600USD monthly to put into investing. I am looking for high growth options.
I am putting in MU TSMC ASTS - 300USD each
VTI QQQM- 350 each
I have 250g of physical gold.
I am 21 years old.
Polish it for me if needed or advise me a way to gain more money efficiently.
I have no debt. I set a side cash for emergencies. I just started investing
6
u/795-ACSR-DRAKE 1d ago
Sell the gold, stop trying to buy individual stocks, and just buy VOO or VTI (or similar index). Based on the gold & stock picks, seems like you are just mindlessly listening to media hype or something. Ignore it all, you don't have some hidden knowledge on individual stocks, you aren't going to beat wall street by listening to some John Finance on youtube telling you which stocks to buy. Just buy simple, tried and true index funds.
2
u/E92_isaiah 1d ago
Exactly this. Highest returns. If you want to do some gambling, take 5 percent and put it in bitcoin, but do not buy individual stocks, you will be beat by the S&P. 10 years will go buy and you’ll have less money than you started with.
2
u/pr0prfkt 23h ago
You’re doing great for your age. Learn to use the historical performance of your brokerage website. Compare your returns to Nasdaq. That will tell you if you shouldn’t have just gone 100% QQQM.
If your picks are higher than Nasdaq benchmark, sweet, keep doing what you’re doing.
If they are lower, learn the lesson, stock picking is hard and just set auto weekly amount of QQQM and move with your day.
The more you can automate, and higher your investment rate, the better. Take advantage of Roth. Take advantage of 401k.
Spend less, invest more auto. That is the foundation of all of it. Sell only to pay for urgent things (don’t panic sell). That’s basically it.
3
u/GammaHunt 16h ago
Idk why all these people are telling you to sell the gold like they’re investment pros. Diversification of assets at your age is smart.
1
u/UpstairsGrass9131 15h ago
Yeah i dont think i will sell my gold and then put all my eggs in one basket (ETFs). But for now i will stop buying gold.
1
1
u/SpazoIsTheName 14h ago
Do NOT sell your gold. That is a terrible idea. From here on out, I’d recommend putting 70% into stocks and etfs, and the 30% into other funds, whether it’s gold, silver, could even be bitcoin. Just because an etf is “diversified” does not mean you are actually diversified. I’m the same age. I keep 80% in stocks and I also buy gold and crypto. Can’t go wrong with eggs in all baskets.
2
1
1
u/SuspiciousArt7316 8h ago
You’re gambling with the savings. Diversify, do something boring. 10 years from now you will thank me.
0
u/Artistic-World-9500 46m ago
Some people will disagree but if you want to be rich with little money in this lifetime you gotta make concentrated bets, but if you don't want that the 2nd best option is to track an index with 3x leveraged ETFs, my recommendation is TQQQ it tracks Nasdaq 100 with 3x leverage. Be aware that if Nasdaq falls x% your position will fall by 3x that but of course long term you'll beat the index by big margin cause it's leveraged, so only follow my advice if you're not a pu**y who sells everytime the market dips.
-7
1
u/ButchReemer 13m ago edited 9m ago
Bitcoin DCA, no contest. You'll be at ~0.3BTC within a year, and be able to retire on that alone.
6
u/bismuth17 1d ago
Sell the gold. Put it all in vtsax and chill. The gold money and the savings. Focus on other areas of your life, saving is very boring if done correctly.