This has to be one of the most requested video topics I get, especially for the people just starting out. This $1000 amount should give you a head start in whatever you do and begin the foundation to you making a lot more money. Feel free to add me on Snapchat/Instagram: GPStephan
Let me first preface this by saying that it really depends WHAT you want to do and what your situation is. I’ll give you my own recommendations, but ultimately your own situation will dictate what’s actually best for you. If you want to start a business, I’d likely give you different advice than if you want to invest long term in something passive. So I’ll try to cover as much as I can.
My first and biggest piece of advice for anyone, no matter what you want to do, is to use that $1000 to invest in yourself. This will likely give you the highest return on investment. I’m not talking about spending it all on a $997 course, but use it towards good books - use it towards learning, taking seminars, taking some courses or classes, and expanding your knowledge about what you want to do. Investing in yourself is a good idea no matter how much money you have and would be the pinnacle of what will generally get you the highest ROI.
My second piece of advice is for someone who wants to start a business. I’d recommend using that $1000 to get you towards starting that business you want to do. If you want to develop a website, use that money to start the website. Want to start an app? Use that money to start an app. Do you want to do something online but don’t have a computer capable of doing it? Use that money. If you want to wholesale real estate, use that $1000 towards marketing materials. Figure out what you want to do and see how you can stretch your $1000 to make your business a reality. Even if it fails miserably and you lose your $1000, I promise that will be the best learning experience of a lifetime. That $1000 mistake will be worth way more firsthand than any college class could ever teach you.
My third piece of advice is for someone who wants a more stable, long term investment they can pretty much just forget about to give them some passive returns. In this case, I’d highly recommend a low-fee index fund, like what Vanguard offers. They have several funds with $1000 minimums that should get you a good head start on investing long term. You can also get a ton of diversification depending on what fund you go with and this would give you a solid foundation for investing. You’ll also learn some background about index funds and diversification in long term investing.
My fourth piece of advice is for someone who wants to learn the stock market and doesn’t mind putting their money in riskier investments. With this, you can trade individual stocks and you will learn a TON by trading firsthand. The downside is that commissions will eat you alive when you’re making regular trades. BUT, it’ll be an amazing learning experience. You can do the same with cryptocurrencies and I’m sure it would be an equally good learning experience. Just understand the risks involved.
The whole purpose of this first $1000 should really just be to use it to jumpstart whatever it is that you want to do. Because lets be real, $1000 is not a lot in the bigger picture. However, $1000 should be enough to start moving you in the direction to begin making $10,000…then $100,000…then a $1,000,000. It’s about creating a foundation that supports you to continue making even more money. It’s not about maximizing your returns at this level, it’s about creating learning experiences at this level where losing 10% costs you $100 vs losing 10% on $100,000 costs you $10,000. The mistakes you make on this level will be avoided when you begin doing things on a much larger scale.
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Once again Graham you keep it 100%I did buy the book buy it rent it profit by Bryan M chavis I'm still working my nine-to-five but this was one of the Investments in myself like you said invest in yourself I'm just saving my money for least 20% down on something if you have any more good advice for me I will greatly appreciate it thank you
I meant what do you think of air bnb as in, what do you think of being the air bnb host? do you know anyone with experience in that area and is that something you would suggest to get started instead of putting a down payment on a property to rent out if you don't want to take on the risk of owning a property right away?
Get into crypto if you're not, my good man! It's a perfect time. Accumulation phase, where the price is incredibly low. It will probably go lower (4800?), but this is the best time you'll have to buy in quite some time.
Buy just a little bit Graham, just to diversify your portfolio.
So if you invest through a roth ira you pay taxes upfront. But if you buy a stock for let's say 100$ and then you sell for 110$ is that 110$ able to be put back into buying without paying taxes on it or do you have to pay taxes agian?
Fuck seminars screw courses and books and whatever else you said spend 1000$ on I want some real advice not some guy telling me to go out and spend a grand on classes so I can spend another grand on the stock market and loose it instantly
I’ve always heard you say that index funds return between 7 and 9%, but on the vanguard website, it says that the S&P 500 index fund returns an average of 15% annually. Am I missing anything or were you just generalizing?
Trading actual stocks with a few thousand dollars was one of the scariest, but most fulfilling things I've ever done. You learn how the market works, how to analyze a stock/company, understand market psychology, etc. Listening to quarterly conference calls gives you an insight into WHY business do the things they do and how to grow a business. I also went on forums and had quite knowledgeable people with much more trading experience than me give me practically a graduate course in trading and financing and business in general. That insight also helped when I started my business to build a business model that worked for my situation.
Hey people with little to no money like me! Try and join some community groups that are in your area that have free seminars. In some of my meet up groups, they talk about real estate, cash flow, meet with other entrepreneurs starting and advance and more. It's all depends on individual research of your area. The more you surround yourself with like minded people and people who can guide you, the better success you will have.😄Good luck!
Alright, I don't feel so bad now. What you said is pretty much what I did, I took the money I had and bought a bunch of books and a few course's I was interested in. I wasn't sure if that was the right move considering money's tight right now, but after watching this I'm confident I made the right choice.
There was no videos like this to my knowledge from my years in middle school to college, and I searched immensely because I just wanted to learn how to invest. I wish I knew this way back then or had someone like you to teach me when I was begging for this knowledge. Thank you soooooo much. I needed this. Wish you could be apart of my financial team while I was in College. 😘💰👏🏾🙏🏾🤝🏾
@Graham Stephan. 🙋🏾♀️ So I've taken the steps to receiving my Property Management Liscence & have meet amazing people through class already in the industry. My goal is to pay off my College Loans in 1 year through Real Estate Investing. Is that possible?
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PUBG Play of the Game first of all, you have to drop that mentality... I am black myself btw. You can make it in any field. You just have to increase yourself in as much knowledge as you can in that field, especially if you know look the part. You have to know what you’re talking about towards and backwards
Graham Stephan Thanks for the quick reply Sir. But all the courses I see, there is someone else whose given the same knowledge for free and I'm grabbing it from there. So investment in myself still confused about it. Sorry for the trouble though.
Anything that betters yourself...doesn't matter if you spend money on it or not, invest your time. Learn for free! Intern for people and charge nothing just for the experience. Buy self help programs. Anything!
22 and no money, using financial aid to get through college. Plan is to get a part time job that can support a FBA business I'd like to start. If I could get just those two income streams started, that would be amazing. After that I'd like to get started in stocks, P2P lending, and buying my first rental property.
I'll start with the first 2 for this year though. The other 3 I'll start next year.
...I should probably think of some classes to take at school that could help me with all this. What's the best kind of college courses I could take?
I invested in myself by enrolling into Cisco CCNA computer networking courses which landed me a job in tech support for a company which makes software for trading on the markets. Hopefully that experience will make me learn more about finances and how to invest properly. I also have a 3-year bachelor's degree in Entrepreneurship though that didn't teach me as much as I wanted.
Great video, but what about the tradesman? You always talk about coders, app builders, real estate agents, but what about the guy that is talented with his hands and builds, plumbs, or wires their area of Americana. What do you tell them, how do they invest? What are the ways to establish their financial future? How can a tradesman differentiate themselves and build wealth. Trades don’t fade so how can we make more wealth?
Simplest way would likely be to use index funds...slow and steady. Check out Vanguard, many of those funds historically average about 7-8% annually. Or continue saving for a down payment on rental property!
trading fees? Just use robinhood. You get a free stock when you sign up with a referal, ranging from $5-$200 and there is zero trade fees.
Now I am going to link my refer thing because who doesnt want a free $5 just by signing up to some iphone app..
Take your $1000 and start trading individual stocks with no fees.
Why can no one figure out the opportunities to invest in things. I started out with $25 in May of this year and have been able to grow that into over $4000. And I'm earning over $750 a month in completely passive income at age 14.
Because of cryptocurrency 🤑🤑🤑.
Great video, instead of $1000, I lost my entire capital on my first failed business and starting from zero again. As much as I regret for going so aggressive with my first business, I've learned something valuable and won't ever make the same mistake again
Get a free Apple or Facebook stock by joining robinhood through this link http://share.robinhood.com/scotts583
once you download it verify your email and link your bank you will recieve the stock (we both get one)
you can keep it or transfrer it to your bank keep in mind this is a free app free to trade free to sign up
What do you think of REIT`s ? For a person who wants to invest in real estate passively REIT`s may be a good way to go. There are a lot of them out there. Although I have been researching some that invest in single family homes ,which I will list here, that are losing money and I don`t know why . RVEN, INVH,SFR these reits buy and renovate homes and then rent them out. But I looked at their income statements and balance sheets and they are all losing money ??? Why ?? Do you know why ?? Thanks.
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