I built up a net worth of $30,000 this year. What are goods ways I can use my money to make money?

[RyanEC]

I made more money this year then any other year so I have been wondering if could use some of that money to make money since my liabilities are relatively low.

I was thinking of doing things such as investing in stock market, drop shipping or small scale start up investing.

[alice55]

WoW how did you did it you build more than Half of what my grandfather build in 80 years

And i have no idea when i get money i just spend it cause thé chance to lose everything when investing is too big

France is not a good country for investing any money

[RyanEC]

I still live at home and only pay $100 rent and I don’t have many other expenses. I take a lot of overtime at work and I got a raise this year.

Keep in mind dollars are worth a little less then Euros (I actually donated €50 to a French political YouTuber but it cost $55.) and inflation meant your grandfather probably made more then what I make now.
Didn’t you mention one time your grandparents lived in Paris unless I’m incorrect. If they did I’m sure they made a good amount.

[RyanEC]

Even though the French economy isn’t great now that doesn’t mean it won’t grow later on. That means you could buy stocks cheap and wait for them to grow.

But I’m not an expert on investing.

[alice55]

They lived in Paris yes until they were in their 40s and they had no help from anybody also they send my father to private boarding school but he always got expelled so it costed suite à lits of money and they also travelled a lot went to luxury restaurant and all they mostly spend all their money

After they retired in thé south of France for thé sun and warmth

I rather not invest in anything apprently thé only good things to invest in is gold

[RyanEC]

Interesting that they were able to do that knowing how expensive Paris is.
I guess your father was a troublemaker back in his school days.

I would try to just save around 20% every month and you will probably be able to save a good amount for the year next year.

[alice55]

Troublemaker is a Nice word one day he put fire into thé trash of English class cause je didn't wanna do a test XD
He got expelled
In two years he usually did 15 school

They worked a lot they used to work 80 hours a week
If i did that il would only be able to put around 2000 euros on thé side we don’t get paid much in France only 1000 euros a months so 12000 euros a years.

[RyanEC]

At least he avoided taking the test. 🤣

Where do you work now?
I remember you said you cleaned rooms as a maid, and that you wanted to be a restaurant hostess.

[Justneedtokno]

They all say invest. But have you already cleared your debts

[RyanEC]

Yes.

[ArtemisSilver]

You could learn to day trade, either for stocks or crypto. I could teach you the basics for a small fee if you like.

[RyanEC]

What kind of fee?

[ArtemisSilver]

I sent you a DM. Just something to cover my time. Hope you're interested, I enjoy teaching.

[Guy13]

Rental property. Find yourself a 200,000 unit and rent it for 1200-1400 month.

[goaded]

Get landlord insurance in case you have a deadbeat in.

[Guy13]

@goaded It does not work that way if you are trying to make money. I am an international Landlord by trade.

[goaded]

Then you haven't had a tenant who's as much of an asshole as we have.

[Guy13]

@goaded Loss of Rent is covered in catastrophe. Perhaps it is where you have your dwellings. There are areas in the USA and Asia that are Landlord friendly. I have over 700 tenants and about 30 of my own in USA 8 in Asia.

[RyanEC]

I’ll look into that @guy13 thanks.

[Guy13]

Certainly and concrete assets are the best money making asset as they do not make more land. They can make or find more gold and stock paper burns and dissipates into ashes.

Get first one half paid off asap and reinvest into a second. IF possible, find a good partner as I did and you can really make thing happen.

[tfan1]

Stock market is crap right now. But I’ve heard gold is still doing good. Might want to invest in gold 🙂👍

[KostasKouvalis]

Good for you. You're asking the wrong person though.