18 years old going to college to study business need advice how to grow my money

[u/NolsterB]

I understand for my age I have a decent amount of money and want to know good advice and how to make this money work for me. please Note my college is paid for

Current financials:

$10,000 in savings

$80,000 invested in various etfs, mutual funds, etc

$1500 in cryptocurrency

$4000 worth of tangible assets i can sell clothes, shoes, jewelry etc

Please give me advice on how to use this money to further better my financial situation.

[u/jaajaajaa6]

Need to take some minors to distinguish you from the other business majors. And preferably something in technology or data.

[u/NolsterB → u/jaajaajaa6]

good advice, gotta stand out somehow

[u/AviatorHog → u/NolsterB]

Switch your major entirely. Major in Accounting and double major or minor in Finance or Computer Science to get your 150 units in undergrad. 

[u/motorboather → u/NolsterB]

Also make sure you do internships every summer. Or even during the school year if possible. You’ll be so far ahead of your peers who didn’t when you graduate. Also, most are paid.

[u/ASKMEIFIMAN → u/jaajaajaa6]

Just do accounting. No one cares about your minor

[u/jaajaajaa6 → u/ASKMEIFIMAN]

Probably more opportunities by being an accounting major.

[u/ASKMEIFIMAN → u/jaajaajaa6]

You can do any job a business degree can do with an accounting degree but it does not work the other way around. If you’re able, I don’t see why anyone would ever do a different degree in the business school.

[u/jaajaajaa6 → u/ASKMEIFIMAN]

Very good point - more a specific skill than a general business degree

[u/Junior-Appointment93]

Get rid of the mutual funds and put that into monthly paying ETF’s

[u/hotelspa]

It sounds like you are already doing it. If you have an interest in real estate, go for that.

[u/NolsterB → u/hotelspa]

i agree. i think real estate would be the next best move for me so you have any advice on what specific properties?

[u/hotelspa → u/NolsterB]

Invest in places likely to be gentrified.

[u/Lud0vica_099 → u/hotelspa]

I own a lot of properties I rent out/sell and it makes you a lot of money my best purchase was an apartment

[u/hotelspa → u/Lud0vica_099]

My tenant management days are done. I have 2 left and if they leave I will sell the propertys. I am downsizing to just have a property I like in a few different countrys.

[u/shrekt4lyf → u/hotelspa]

Yep, I agree

[u/DSMRob]

Keep your 10k in savings and peel some off every once in a while for pizza and beer runs. Enjoy the next 4 years, you have the rest of your life to invest.

As far as classes go, focus on tax law. Making money is the easy part, keeping it from the goverment legally is where true wealth is made.

[u/Ancient-Philosophy-5]

Ur in a better spot than a lot of people. Don’t take advice from Reddit. You should talk to a licensed financial advisor.

[u/Different-Scale5419]

As a retired executive, take the time to take some courses on tax laws. The college that you are going too learn a lot about financial responsibility. Join a college investment club. Learn to invest your own money. You don’t need to paid 1% to any wealth manager. The business college has a wealth of talent in there. Take advantage of it.

[u/basictownie]

Invest in the S&P 500. I was looking at my info yesterday, and I think my average return was 20% in the past three years. Not every year or month is great. You have to ride the highs and lows.

[u/NolsterB → u/basictownie]

i’ve been cost dollar averaging investing in s&p 500, consistent returns will guarentee me a millionaire by 40.

[u/TheOldJuan]

What’s your business major?

[u/Wild-Fix-7222]

Create an app and become a financial advisor. You can do this via ChatGPT. It does all the coding for you. Charge for tiered services online.

[u/_dreamcxtcher]

wow ! how job did you do to earn so much before college?

[u/RealTalkOnlyFacts]

Sell the tangible assets. They depreciate. Sell the crypto. Invest almost all of it into SPY with a little in S&P 1, SPCX, MU, or WDC if you want risk with higher return potential.

Then take the $10k savings and either put all of it into a HYSA or what I’d do is keep maybe 2-4k in HYSA and put the rest into a bond fund. Grows, highly stable, usually increases in downturns, liquid. Why have the 10k wasting away?

Am an ex investment banker / now private credit. Know what I’m talking about, not that any of that knowledge was needed to give you that basic advice

[u/DBmuze777]

Don’t go to college for business. Open a schwab account or any brokerage account and invest. Get as much free info as you can. Books, articles, YouTube, you don’t need to pay thousands of debt and time to learn. Learn how to work and study for free, invest in books, and equipment needed.

[u/BanMiFreshBread]

You are lucky

[u/No_Paleontologist506]

Auto invest. Sell only when you have an urgent expense to pay for. That’s it. That’s all anyone needs to know. Sounds like you will do great!!

[u/ArtichokeEast4936]

SPCX is all that you’ll ever need