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Is €250 really enough to start a second income?

  • 06-07-2021 10:17pm
    #1
    R3_Regera
    Registered Users, Registered Users 2 Posts: 31 ✭


    Keep seeing all these promoted ads for Tesla,Amazon, etc
    It really doesn't seem like that could be a thing that works!


Comments

  • #2
    L1011
    Registered Users, Registered Users 2 Posts: 72,146 ✭✭✭✭L1011


    They're all investment pump and dump scams. They will tell you that stock X is 'the new Tesla' and show what some other stocks rose by, but that stock will never rise.

    250 in Amazon now would bring you an annual income of... nothing. Cause they don't pay dividends. And its growth over a year is unlikely to ever exceed a few hundred, which you'll need to pay CGT on.


  • #3
    touts
    Registered Users, Registered Users 2 Posts: 6,629 ✭✭✭touts


    You can start a second income with €0.

    It just takes hard work. And it doesn't matter if you spend €0 or €10000. Hard work earns money.


  • #4
    krissovo
    Registered Users, Registered Users 2 Posts: 2,645 ✭✭✭krissovo


    I theory yes but you need to invest in a penny stock that turns unicorn which highly unusual, so yes they are scams. Unfortunately the good penny stock is usually only offered to venture capitalists who go through a due diligence process to quantify the potential and their aim is to keep the stock price low at flotation.

    Take amazon, if you invested €250 on day 1 of the flotation that would be worth ~$6million now but not many had the faith to invest in a online book store without the vision behind it. The main investors had insight to the big picture and made a killing.

    To make real money on stocks you really need to invest around €50k in a mixed stock portfolio of high risk and low risk bets and hope you find you have bought into the next unicorn to make your fortune.


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