Is it a good idea for an 18 year to hold saving in NFLX stock?
I have about $1000 in savings (excluding spending cash)
I don’t want this money sitting in my bank
Is it a good idea to buy NFLX shares at hopefully ~ 150 per share and hold for the long term? $Netflix(NFLX.US$
I don’t want this money sitting in my bank
Is it a good idea to buy NFLX shares at hopefully ~ 150 per share and hold for the long term? $Netflix(NFLX.US$
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cheezyans : Spend that money and enjoy your youth
72795057 : I recommend you only put $100 in a Netflix stock account at most and puting most of the rest in a online savings account like Marcus that will yield high interest if you absolutely cannot resist the urge to spend then only spend $10 because you have so little that you might as well have $10 it only seems like a lot more than it is because you are so young and it is saved. if you for instance said you only have that in general you are considered poor that is how little it actually is. don't get me wrong it is still good that you have it.
The reason why you are not making enough noticable interest is because the bank is actually doing the investing for you with your money while it is in there and also making profit by loaning out your money too and then giving you a little bit of interest cuz they have to deal with all the expenses of a physical bank plus you have to remember that investing in stocks is risky you should only put in what you are willing to lose. This question is very similar to if you had asked us " Should I gamble with all my money?" because investing in stocks is just a regulated fancy form of gambling.
I am 31 now and I really wish I was saving and investing at 18 you will not be enjoying your youth by spending up all the money you worked so hard to keep what you will do is feel bad later cuz not only can't you buy much but you have to remember that initially you wanted to save and invest which means you want your money to grow not to go.
ChrissieeOP cheezyans:
smruti : don't put all your money to one stock instead make a portfolio of stocks from different sectors.