Asked 2w ago
I'm a student looking to make some passive income.
A little contrary to other other responses here, but this is what I like to advocate: Form a conviction in a stock, and make a small position in it.
It will not make you rich, but it will:
Hope this helps, and hope you get started on your investing journey!
You are not going to make any serious passive income with 1000 dollars.
However, you should still get started with investing. Reason being once you have 'skin in the game', it would put in the right mindset. You can start to train yourself to think like an investor. More importantly, when there is a market downturn, you see how you yourself would react and adjust accordingly.
You can't exactly do the above if you do not get started. Consider robo advisory. It is 'good' for beginners since you would require more of a hands-on approach.
On a side note, I am starting a financial blog. Do check it out.
Top Contributor (Aug)
My recommendation is to wait.
A 10% return on $1k is just 100 bucks. That's not even a $10/mth return. And it's something you can earn in a few hours on a Saturday.
And to try and achieve a 10% return means exposing your capital to some risk.
I'd much rather you use that $1k to go for a course and pick up a skill someone would pay for. Like digital marketing, or coding, or video editing. You can easily make a $100/hr with some of these skills.