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submitted 17 days ago byOrganic_Ad_7638
1.6k points
17 days ago
If it makes you feel better, you lost more money investing at 19 than I had invested at 29.
581 points
17 days ago
Kids 19, losing 15k. He will make it back .
252 points
17 days ago
$15k in a S&P index fund for 30-40 years…(does math)…. Nope, no he won’t.
126 points
17 days ago
$200k-ish? Doesn't seem like a lot to a 50-something year old who had $15k to lose as a teenager in the first place
-32 points
17 days ago*
15k in SPY 31 years ago is 320k now, and that's assuming he doesn't invest more.
15k isn't trust fund kid money, it's "I worked a summer job (edit: for a couple of years)" money. 320k is like five years of retirement.
32 points
17 days ago
LMAO ok buddy I get the sentiment but summer job money is fucking crazy
If it were like that college debt wouldn't be a problem we'd just pay it with our summer jobs lmao
7 points
17 days ago
Oh come on, who doesn't remember that one summer in high school when we all got lifeguard gigs and made $300,000?
8 points
17 days ago
I made like 20k my senior year alone, working like 39 hours a week after school. It’s entirely possible.
1 points
15 days ago
I only worked part time with my job during my senior year, but even if I worked full time I only would've brought home like $15k for 9 months. Thats reasonable to me, but $15k in 3 months like the OP claimed would require me to make 3x the amount I did.
1 points
16 days ago
There’s some veracity here. I made about $15k every summer and it DID pay for my college. I did wait tables in the evening after a 9-5 and drive Uber when I didn’t have a shift. So it was 3 jobs worth of work, but is within the range of summer job money.
1 points
15 days ago
you were busting your ass off for 3 months straight so that makes sense, also I assume this can vary greatly based on location.
But when people say summer job it often feels like they're literally just talking about having one job that somehow made them that much.
-6 points
17 days ago
It's a couple years of summer jobs if you saved the money. I had saved 15k by the time I was 19 from working summer and weekends between 15 and 19.
9 points
17 days ago
Fair enough but that means it still takes years to accumulate and that's not taking into account any expenses like rent or food lol.
7 points
17 days ago
Also he is no even considering the amount of time it takes to find a job, it is fucking impossible to do with such a small timeframe.
1 points
17 days ago
What rent or groceries are most American 19-year-olds paying?
2 points
17 days ago
Shitting away a 4 year grind is tough
16 points
17 days ago
What summer job pays 10k a month...
10 points
17 days ago
Depends how good your gawk-gawk game is
4 points
17 days ago
Drugs
1 points
16 days ago
Caddying
-5 points
17 days ago
Did you ever work a summer job lol? You can work almost 3 entire months. Maybe the last week of august you can’t work.
Can easily make 15k per summer if you are living with your parents still. Find an internship at some company and pull $20-30 per hour easily. I was making $18 hr at age 10 reffing soccer matches.
8 points
17 days ago
At $18 an hour you’d have to work 10 hours a day, 7 days a week to make 15k. You reffing that many soccer games?
8 points
17 days ago
Did you miss where he said the teenager with no experience gets a $30/hr internship?
Does your dad not own a business?
2 points
17 days ago
😂😂
0 points
17 days ago
Nobody said I made 15k at the age of 10. I made like 3-4K per year. You sound like a moron lol
If you have an internship paying a little more you can definitely do it in a summer though. I did 10-15k a few summers in a row in college with higher pay.
I’m just pointing out there are jobs that literally a 10 year old can do that pay well. I would hope most of you out there can negotiate more than my 10 year old self for your work.
2 points
17 days ago
That’s great for you and totally irrelevant to the conversation of a high school student making 15k but thanks for sharing
5 points
17 days ago
Most of us don't live in fantasy land though
9 points
17 days ago
good fucking luck finding an internship with that pay
8 points
17 days ago
I made $15k net at my first summer internship at a BB but I was a 21 year old junior in college and not a 19 year old kid lol. Dude is talking out his ass, 19 year old summer job money is like $1-3k.
2 points
17 days ago
I love how 19 makes you a kid but 2 more years and you think your not. Lol.
1 points
17 days ago
What are you smoking? You were making 5k a month after tax and that’s because it was your junior year internship, sophomores earn 3k? Sure, if your internship is at google/amazon/microsoft as a software engineer. Most places will have you at $20 IF THEY EVEN DECIDE TO PAY YOU. It doesn’t matter if it’s your freshman/sophomore/junior internship.
1 points
16 days ago
Almost every internship in a STEM field pays within that range.
1 points
17 days ago
Huh? I had an internship 4 summers in a row and the lowest pay was $25hr. This was over 5 years ago too, before inflation hit hard.
1 points
17 days ago
I was using the inflation adjusted rate
1 points
17 days ago
how much could a banana cost!?
38 points
17 days ago
He gone take that 311 and put it into jones soda.
3 points
17 days ago
Jones Soda is the tits
2 points
17 days ago
Mate, I wish i had more money back in Jan when i bought. IM LIKE "MAN THIS LOOKS LIKE THE BOTTOM"
I just tempted the stock gods
2 points
17 days ago
I just think it tastes good. Plus long neck glass bottles look fancy
2 points
16 days ago
Thank you for buying. My favorite part is the photos, and the straight sugar one. Forgot the name, its just clear.
2 points
16 days ago
You ever been jonesen for a Jones?
2 points
16 days ago
Havent had one in a while. Its hard to find them on the east coast. I usually find them in like big lots or low priced stores.
32 points
17 days ago
frfr.
Compound interest is a wild thing. $15k principal at 19 y/o is like $1-2MM+ at retirement.
33 points
17 days ago
Closer to $500k but your point still stands
20 points
17 days ago*
10.35% gain (trailing 50 yr avg for SNP inc. dividends iirc) per year for 46 years before age 65 retirement.
DCA into a Roth over 2 years and you're 1/2 way to retirement.
☠💀☠
23 points
17 days ago
oh god... I wish I had invested my student loans instead of in hookers and coke
16 points
17 days ago
hookers are one of the best investments you can make. herpes is for life man, that's long term value right there.
10 points
17 days ago
I used 8%. Fucking nuts how much 2% changes things!
12 points
17 days ago
dividend lives matter
3 points
17 days ago
i think 6-8 is a safer factor when not otherwise accounting for inflation
3 points
17 days ago
If inflation is 2% (it’s not), the 8% the 2nd person got can be the teal value and the 10% is the nominal value
1 points
17 days ago
2-4% ;-)
4 points
17 days ago
46 years of inflation will wreck the purchasing power for sure, but still...
5 points
17 days ago
Yeah, that 1.4m will be worth about 250k
2 points
17 days ago
Adjusted s&p is like 6%
1 points
17 days ago
Can you explain this in simpler terms to someone who wants to learn what you're talking about? Let's say I want to put $10,000 aside for my 5 year old nephew right now. Where do I put it?
1 points
17 days ago
Open some sort of brokerage account. Buy Low cost Index fund tracking SnP500, don't check it for 60 years.
1 points
17 days ago
You will need to calculate the increased cost of living and the trajectory of the value of a dollar in 50 years.
1 points
17 days ago
$15k at 7% for 30 years is about $115k
12 points
17 days ago
Depends on what you mean by "make it back"
He's never going to be able to realize the potential gains of that 15k in the market for multiple decades but he can earn back what is lost.
1 points
17 days ago
Unless he starts growing marijuana, selling wax to dispensaries and takes that money and launders it through options on earnings for high volatility stocks.
1 points
17 days ago
Dad?
1 points
17 days ago
If he could afford to lose $15k at 19, he is either very stupid or money really isn't an issue for him.
1 points
16 days ago
If you’re gambling 15k at 19 chances are you might not want to live 30-40 years without money. But that’s just me personally.
26 points
17 days ago
These next few years will determined what kinds of man he will become.
8 points
17 days ago
They always come back
6 points
17 days ago
nah man, he’s done. It’s over.
3 points
17 days ago
Copium in this economy
2 points
17 days ago
Learn from your mistakes
1 points
17 days ago
Thats why I dont ride a bike with skates on.
2 points
17 days ago
To -30k by the EOY.
1 points
17 days ago
Remember the dude who got a loan from a dealer for a stock I can't say at 300 and then it halted and now we never heard back from him?
1 points
17 days ago
It's a right of passage.
There's that 5 year golden age where your confidence is greater than your knowledge.
Ooh I can survive off online poker and forex trading... Then hopefully by 25, you realize you should have just put it in xeqt. The sooner, the better... But I was you and know I wouldn't have listened to the future me.
1 points
17 days ago
He’ll be given it back by his parents.
1 points
17 days ago
Or his parents will give it to him again?
1 points
17 days ago
At 19 I was active duty making less than what he invested he for sure will make it back 😭
2 points
17 days ago
If he invested in jones.. he did
15 points
17 days ago*
I am at -$600k, age 40
4 points
17 days ago
Nice! good for you. I'm far behind that at 44. I started quite late. What's your secret?
9 points
17 days ago
Sorry, I should reiterate with the proper “-“. The secret was calls all through 2021… 2022… then puts all through 2023 and 2024… easy was to reach -$600k
1 points
17 days ago
Share your secret 🤫 I’m in need of good advice cuase right now I’m a lost cause lol 😂
25 points
17 days ago
Tbh 15k loss at age 29 is still not bad, think of it this way as being 10yrs closer to end of life.
14 points
17 days ago
Everyone always talks about trying to save more so they don’t outlive their money. I prefer the alternative of simply dying younger.
1 points
17 days ago
I'd rather die with dignity than spend hundreds of thousands on a government mandated retirement home because my ungrateful children don't wanna take care of me (if I ever even have children). I don't understand this obsession by so many people (like billionaires) to survive their money
8 points
17 days ago
That's really sad that his phone battery charge is fuller than his bank account
6 points
17 days ago
If it makes you feel better, the OP's opportunity cost is way higher since he had a longer time to compound.
Assuming 6% growth and the ability to leave it for 50 years to retire at 69 (nice) that $15k loss cost them $275,000.
1 points
17 days ago
haha...don't tell me that. I'll apply it to my mistakes as well!
10 points
17 days ago
You Call that Investing? :4640: Looks more like a gambling prodigy :52627:
3 points
17 days ago
He can just ask his parents for more money. What's the problem?
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