Starting out in investing as a student.

Kcampo

I am a 17 year old finishing my leaving cert next year. I will (hopefully) be in college within the next year and my cost of living is negligible even though I am living away from my parents. I have about 800 euros in my savings account and I would like to begin investing so that towards the end of my tenure as a college student I have a larger some of money due to investing.

However, I know next to nothing but I do know that paying for brokers and professional advice can take a big dent out of my savings so I'm looking for advice as to what I should start with or what I could read up on to assist in my situation. All advice is appreciated. Is bitcoin something reasonable to invest in or what are better choices?

tp25

don't ask for this online. If i am you, i would buy myself a nice course books or actual course for 800eur, much better invested than any of the above

topper_harley2

Forget BitCoins is my first instinct. What is the obsession with these things?! Read all of these threads for a start, plus all of the books they recommend: http://www.boards.ie/vbulletin/showthread.php?t=2056682316.
Also absorb all of this website http://www.investopedia.com/ and register on askaboutmoney.com for general financial advice/learnings - there is ALOT more to financial wellbeing than investing.
You'd also be wise to hold onto the E800 in deposit account, first year can be an surprisingly expensive and fun time in college.....

Zascar

I know I'll get absolutely slated for this but I say definitely put it in Bitcoin or other cryptocurrencies. You are only supposed to invest what you can afford to lose - you are young - take a risk - you'd probably just drink the €800 in a few months anyway. It's nothing in the grand scheme of things. Crypto is kicking off right now - get in, have a play, learn loads. Invest a small amount in a few ICO's. Many coins are doing 10x and many more. If you lose it all (unlikely) so what it's €800.

Don't let people scare you off. I was about to invest €1000 in Bitcoin when it was $100 - but people scared me off. I shudder to think what I would have now if I did, as I undoubtedly would have got into other altcoins like Ethereum etc which has done 7000%.

OP have a read of the "Buying Bitcoins" thread. We also have a telegram group - and pm me for a youtube playlist of videos to help you understand it all..

<awaits barrage of insults>

A Battered Mars Bar

Buy a 4 bed house and rent the other 3 rooms out to students during college and use that to pay back the mortgage. Do a 10 year course like a doctorate of a doctoring doctor. Then sell house when it's reached 50x what you paid for it when you finish college.

grazinggreen

A Battered Mars Bar wrote: »

Buy a 4 bed house and rent the other 3 rooms out to students during college and use that to pay back the mortgage. Do a 10 year course like a doctorate of a doctoring doctor. Then sell house when it's reached 50x what you paid for it when you finish college.

Got a good laugh at that!

I would chance the bitcoin too if I was your age. Its absolutely not an investment, more a gamble based on others piling in after you. Make sure you sell before it peaks and collapses, as it surely will.

At your age, treat your investments as an education. Invest in shares, not funds and educate yourself. Read up a lot and research. You might not have made a lot by the time you finish your studies but you will have had a valuable education in investing which will stand to you for the rest of your life.

Oh and stay away from property. Its too illiquid and long term.

Kcampo

Thanks everyone for all the advice

Austria!

75% Eth, 20% OMG, 5% Monero, keep investing in this ratio.

gavmcg92

Zascar wrote: »

I know I'll get absolutely slated for this but I say definitely put it in Bitcoin or other cryptocurrencies. You are only supposed to invest what you can afford to lose - you are young - take a risk - you'd probably just drink the €800 in a few months anyway.  It's nothing in the grand scheme of things. Crypto is kicking off right now - get in, have a play, learn loads. Invest a small amount in a few ICO's. Many coins are doing 10x and many more. If you lose it all (unlikely) so what it's €800.

Don't let people scare you off. I was about to invest €1000 in Bitcoin when it was $100  - but people scared me off. I shudder to think what I would have now if I did, as I undoubtedly would have got into other altcoins like Ethereum etc which has done 7000%.

OP have a read of the "Buying Bitcoins" thread. We also have a telegram group - and pm me for a youtube playlist of videos to help you understand it all..

You're big into your Bitcoins!

I think the biggest issues we have is that it's more gambling than investing but it definitely shouldn't be written off. I think at most alt currencies should be no more than 10% of your portfolio if you are looking at investing long-term/regularly. 

I think OP you would be best spending a bit of your money looking into investment books like The Intelligent Investor, Random Walk Down Wall street and Winning the Loser's Game to name a few. and then set up an account with Degiro.ie to regularly contribute to and invest with.

Like others have suggested, if this is the only savings you have then you may be best to leave it where it is and even bolster it up a bit so that you have an emergency fund to hand just in case. First year in college can get expensive! I think I spent 60 euro on the first day joining societies and I actively went to just one of them over the course of my 4 years!

Bitcoin

I agree with the above. I think you'd be crazy to not have at least some money in crypto-currency. It's one of the best performing asset classes and yet we've only scratched the surface on the user base.

cork93

If your purpose is to "invest" the money as the title suggests then you should stay well away from cryptocurrency. Buying cryptocurrency is pure speculation, it is not an investment.

If you want the thrill of gambling with the money then sure buy some bitcoins... or play roulette!

the_syco

Zascar wrote: »

Don't let people scare you off. I was about to invest €1000 in Bitcoin when it was $100 - but people scared me off. I shudder to think what I would have now if I did, as I undoubtedly would have got into other altcoins like Ethereum etc which has done 7000%.

If doing BitCoin, don't have the wallet stored on your phone; have heard of people loose serious amounts of Bitcoin lately, whose wallets were on their phones.

IMO, look at battery companies, and if you can get some shares cheaply, consider them. Batteries that are currently mainly used for phones, but there's a big demand for the same batteries for the electric cars.

Another thing would be to keep an eye on what companies the US military are buying from. I think they're looking at new boots, new standard pistol, and also new humvee replacement. If you pick the right company, you could make a buck.

But remember; you'll need to keep an eye on your shares, as reward and risk are two sides to the same coin.