Alright guys.... I am 18yrs old with like 15k in my hand. The question is I am right now at that crossroad (At least I think so). So with that amount of cash, what should I do? I been planning to go turbo even before I got the car. Well, actually ever since I started lurking on this forum. You might ask me how did I plan to go turbo even when I didn't have the s2000? As weird as it might sound I REALLY FELT like I was going to own a Honda S2000. Older guys (dad and business owners) tell me to invest my $$$ and put it in the bank. Which is indeed a very wise choice, but being young... I wanna be a little faster, but also that money in the long run also sounds very nice.

So there goes my problem, should I invest the $$$ or go turbo? I am sure some older s2k owners always say to young people, "if you invest 10% of your paycheck every month for the next 20yrs you could be a millionaire/retire by the age of 40 - 50."

If you guys are going to tell me to start a business I already thought about it. Since I am only 18, there are some stuff that I still can't sign (or can I)?

Anyways any advice on what to do with the 15k would be nice.

Oh yeah, if your wondering how does a 18yr old pay off his s2k and pay for insurance and still manage to have 15K, lets say I busted my ass off to have what I had today. Also of course with the help of my parents. Alright guys any input would be nice.

-Alan

 

invest invest invest

 

So all the $$$ in the bank and let it sit there?

 

neg, find a older friend who's a broker and learn the tricks of the trade my young freind

 

[QUOTE]Originally posted by diGital.James
neg,

 

[QUOTE]Originally posted by diGital.James
neg,

 

[QUOTE]Originally posted by Presidente

 

c'mon guys. there's no sure way to make quick money on the stock market, unless you do it illegally, such as via insider trading. anyone who makes quick money on the stock market is through luck. yes, most people who invest their money see it grow, but this is a long term commitment. don't expect your $15K to turn into $150K overnight. it took 10 years for microsoft's stock to really blow up and it took probably 6-8 years for yahoo's stock to blow up. and the thing with buying into those types of companies when they were young is that they were not that enticing back then, so most would had passed up on them, and most will probably pass up on the startups today that have the potential to be jackpots down the line. the reason is that no one can predict the future!! if you play the stock market for short term profit, you'll have probably an equal chance of making $100K as you will in losing $100K. playing the stock market is basically a form of gambling. investing means, putting your money into a portfolio and let it grow over 20-40 years.

with that said, i think you should spend some of your money on a turbo and enjoy your youth a little bit. with the rest, you should invest it. apparently, you have the ability and commitment to make more money, so you can always invest more money as you make more. i personally do not believe in sacrificing enjoying your life today so you can enjoy it in the future. not only is your future not garuanteed, but you should be enjoying your life every day and not just when you are older.

 

btw, if any broker (old or young) does know the secret to making serious money on the stock market, this broker would not be a broker anymore, but would be a retired millionaire/billionaire. brokers, for the most part, make money from commission...PERIOD!! in other words, there IS no "trick of the trade" when it comes to investing...

 

Obviously you are set on spending the money on the car so here is my .2 cents

Judging by the 'trouble with turbo' posts I have seen, going turbo is a surefire way to blow the 15k. On the other hand, SC seems to be more reliable on the S2000 and you still get a hefty power boost.

After the SC you will probably still have 10k or so which you can invest. That way you get a faster car and a nest egg. I think it is a nice compromise.