What are some recommendations for investments if I have $1,000? - Seedly

Investments

Stocks Discussion

Asked by Zoven Loh

Asked 2w ago

What are some recommendations for investments if I have $1,000?

I'm a student looking to make some passive income.

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Junus Eu
Junus Eu
Top Contributor

Top Contributor (Aug)

Level 8. Wizard
Answered 1w ago

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:

  1. Accelerate your learning curve - because you are putting skin in the game, you are likely to learn all you can about the stock, even though it's your first time.
  2. Because now you have dipped your toes in, the material you read (be it books/annual reports/analyst reports) will be more relevant. You will look for certain data points.
  3. You will also learn the emotional aspect of investing. Monitor how you reach when the stock dips/rises. How often do you check on the price? What is your own investment timeline? All these observations about yourself will help you learn.

Hope this helps, and hope you get started on your investing journey!

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Paul

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Level 1. Freshie
Answered 1w ago

You should invest. Either you profit or you learn from your mistake when it's still a small amount. Don't wait!

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Harvey Tan
Harvey Tan

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Level 5. Genius
Answered 2w ago

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.

https://investment-blueprint.com/

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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.

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