At sixteen I remember being so proud of my $600 Ford Taurus beater I bought myself with daycare assistant money. I would watch YouTube videos and fix it myself. When I see stuff like this idk whether to feel angry or jealous or both.
Invest in yourself. Finish school. Get a part time job or side hustle. In the grand scheme of things, this is nothing. You do the next 6 years right, you'll make what you lost back every fortnight. And more.
Honestly as far as school goes, college is pretty scammy compared to trade school. Youll make a recession-proof six figures easy in almost every trade, for half as much schooling and for cheaper.
If you’re 16 and living with your parents, you could take a break from investing in bear markets, and pick up a 2015 MacBook or something and work your way through some Python or JS tutorials to see if that suits you. This would be the time to do it.
Literally made 100% of it by working out ideas for things I could make and sell on Etsy. Plus my Egyptian immigrant dad would whoop my ass if he knew I lost 6k. 💀😂
Started a Etsy shop last summer that made me around 1k a month but I don’t have time to do it anymore. “It involved painting 3d printed props from movies”
Take the time you spend on this app and use that for school. It will pay for itself way more than a couple grand. Which is chump change in the grand scheme of things. As others said, do the next 6 years right, and you’ll make that back with one signing bonus.
Focus on earning money via your jobs, buy 1 share of VOO a month, it’s really this simple. Don’t try and be a bad ass, take the true path and invest vs gamble.
The normal WSB response would be, keep buying the dip with the money you don't have. Just borrow some more money, sell a kidney, sell the house/car, use the grandparents savings to buy the dip.
Put your money in good companies bit by bit while everything is going down. Keep averaging down while everyone is panicking. Take $100 and average that into each of the S&P sectors while everything is going down. Then, when normal cyclical action is restored, put money where Wall Street is selling and rotate money out of the sectors where they are buying. It takes time, but eventually that dip will look very small compared to your all-time returns.
If RobinHood let you open an account under 18....maybe a lawsuit against them for letting minors trade stocks on their platform....which I'm sure is illegal and is another failure by their company. You'll make millions.
Go buy a lawnmower and weedeater with a gas can a spool of weedeater string and go cut people's grass. Make them pay in cash and put it in ammo boxes and bury it in my backyard for safekeeping.
Might bounce back. Don't gamble anymore. Work a lot, save, and invest in broad based index funds. The new money over the next decade will more than make up for any that is still lost.
Don't put all your savings directly in the stockmarket. You are young, wait a few months to see where this shitshow goes, then jump back in. Not all at once, here and there as you don't know how long it may drop. Put some money in index funds so if you have bad days with your individual picks, that money will seem stable. Sell when you think you're a stock genius, buy when you have lost hope.
Tbh. If you were investing in long term stonks, just hold. DCA and don’t stress it. You are only 16, I’m already down 10k Year over Year and I’m still up 90% YoY. Create a strategy, mine is 60% dedicated ETF stocks (like VOO), 30% dividends (DFS, JEPQ, MAIN,etc), and for shits and giggles 10% yolo plays (wallstreetbet plays, short squeeze plays, Tesla, crypto, etc). Also tax write off up to 3k per year so, February is going to look nice for me lol
Keep grinding Focus on learning a skill. Invest only with extra money that can be lost. It’ll come back over time but buy companies you want to own not ones that you think can make you rich wuick
Boomer stocks. Think about what people need to survive and what business will survive where we are headed, which is a slow down. Food and shelter. Walmart is doing good and Kraft, just some examples of the growers over the last few months. This will pass and your money will grow again, but it will be a moment before we’re flying high again.
The heck you investing in at 16 fam? You should be slowly accumulating blue chip dividend stocks. At your age you can get some serious return down the road.
You're in too deep to sell man. Find where you'd be okay cutting ties, whether it's a break even price or a specific loss that not %80+ loss om your position. Now your only step is to just hold it. No HODL or WSB talk. Literally just hold it and hope for the best. You may be holding it for years but that's your only choice unless you just sell.
Do what you want to do, sink your teeth into it, it's thinking about an optional side project, it's like a springboard on your way forward, make your own plans and make yourself feel more accomplished.
The good news is that you only have 1000 left to lose. The other good news is that, provided you don't leverage yourself or trade options, you can only ever face losses of 100%, but your gains can be much higher.
Start delivering Pizzas kid
Kaisers is hiring I can get you in easy
Does that even cover the fuel bill anymore?
Do the opposite of what you did
Hire this man!
Take my upvote you bastard.
Definitely best advice given.
How dose a 16yo open a account anyway
OP should contact the brokerage. Tell them the purchases were void since as a minor the contracts cannot be legally enforced.
Isn’t this uh.. how do you say… not legal?
Idk about actually opening an account, but my parents bought me and my two brothers shares from different companies when we were all very young.
a custodian account, but they can only trade stock i believe, or atleast I can only trade stock. Im 16
WSB will tell u how, But it's gunna involve a Wendy's.....
You took the words out of my mouth. Unlike those dumpster Wendy's workers, those aren't words..
Sir this is a Wendy’s
at this point, I wanna hear new ideas on how to make my money back
$7k at 16yr….fuck you. You’ll be fine
How are these people even investing? Dont you need to be 18?
Srsly right. Just shut up and sit down in the back while the adults talk. Okay guys… how do we make $7k?
At sixteen I remember being so proud of my $600 Ford Taurus beater I bought myself with daycare assistant money. I would watch YouTube videos and fix it myself. When I see stuff like this idk whether to feel angry or jealous or both.
These are the best lessons. I wish I learned when I was 16. I was too broke to lose money in the stock market at 16.
Haha came here for this.
Literally my thoughts … when I was 16 I was working at Chuck E Cheese for 8$ an hour … happy af w my 200$ paychecks … this kid will be alright
Exactly
Just hold; you are young and have plenty of time. Concentrate on something else.
All they have is cash in their account.
And turn on dividend reinvestment.
Half a year at Mc Donald’s
They're paying 18 an hour where I am. Maybe 10 weeks
Invest in yourself. Finish school. Get a part time job or side hustle. In the grand scheme of things, this is nothing. You do the next 6 years right, you'll make what you lost back every fortnight. And more.
I love how people breeze over stuff like “get a side hustle”, as if its as easy to get like grabbing lunch or something.
This right here
Nailed it.
Honestly as far as school goes, college is pretty scammy compared to trade school. Youll make a recession-proof six figures easy in almost every trade, for half as much schooling and for cheaper.
You get a high paying job by getting a skill, education or not.
Get a job at any fast food restaurant. They are all hiring.
It might take a few years, but soon enough, you'll figure out you got a very valuable lesson at a very cheap price.
Just hold for 3 to 5 years..
Whatever you are doing, do the opposite
Call up your bank and dispute the original deposit/ charge then claim someone stole your ID,to robinhood, and they opened that account
What did you invest in?
If it went south I was there 😂
If you’re 16 and living with your parents, you could take a break from investing in bear markets, and pick up a 2015 MacBook or something and work your way through some Python or JS tutorials to see if that suits you. This would be the time to do it.
I’m taking an intro to CS course at my local community college currently. I actually enjoy it a lot!
I’m 41 and down 93%.
Im down 50%, good thing it was only $18
1st delete this app if you want to invest . Second consider the money you invested gone for ever .
https://giphy.com/gifs/luke-skywalker-Xjo8pbrphfVuw
That’s the neat part: you don’t
When I was 16 I only had $400, surprised you had so much money at your age, daddy boy
I had summer jobs in highschool. Worked graveyard in a factory when I was 16. Felt rich as fuck with 6k at the end of the summer.
[удалено]
Literally made 100% of it by working out ideas for things I could make and sell on Etsy. Plus my Egyptian immigrant dad would whoop my ass if he knew I lost 6k. 💀😂
Ask
Don't you have to be 18 to play in the stock market?
Just Over Broke
Turn 65
yeah... wait until you turn 18.... then talk to the people behind the Wendy's dumpster.
Chapter 11 is the only way you’re coming back from that one
The best preforming portfolios are the ones no one touches. Widows with dead husbands who are left stock usually do great cause they don’t touch them.
Start suckin dick for wooden nickels
Did you try uninstall and reinstall it should reset
Whatchu mean? Diamond Hands, no?
Whatever you think is a good idea or seems like a good move… do the exact opposite
My guy, this is some actual advice, put that money into a roth ira. Get a job, and don't fuck around too hard with options yet.
How soft are them hands
You win the moron peace price
Easily with a job
puts
Get a job for $15 an hour and work 400 hours.
Get a job
get a job bozo
HOLD
Get a real job and stop gambling
Children shouldn't be allowed to invest
Sorry gone is gone.
Lmao...ask for more in lunch money from parents
Wait and check back in when you're 30
Bear
How did you got the 7k in the first place ?
Started a Etsy shop last summer that made me around 1k a month but I don’t have time to do it anymore. “It involved painting 3d printed props from movies”
Buy COIN.
/s ^
Diversify your portfolio into food, water, and mining stocks.
Take the time you spend on this app and use that for school. It will pay for itself way more than a couple grand. Which is chump change in the grand scheme of things. As others said, do the next 6 years right, and you’ll make that back with one signing bonus.
Go to uni get a degree
no way
What did you bought?
That’s the neat part
Focus on earning money via your jobs, buy 1 share of VOO a month, it’s really this simple. Don’t try and be a bad ass, take the true path and invest vs gamble.
The normal WSB response would be, keep buying the dip with the money you don't have. Just borrow some more money, sell a kidney, sell the house/car, use the grandparents savings to buy the dip.
16… get a few pay checks from work and you should make that all back. $5k loss isn’t worth the time.
Just hodl man. Thats all at this point. Be diamond hands not paper hands.
Wait until you're 17.
Buy SPY puts
Double down on deep OTM FD’s and get the lube…
Consider it as your investment in learning about stock market 😆
I bet you can make 10k easy this summer mowing lawns
by waiting
Hold your socks for 15 years.
YOLO ATER
Never give up easy
Put your money in good companies bit by bit while everything is going down. Keep averaging down while everyone is panicking. Take $100 and average that into each of the S&P sectors while everything is going down. Then, when normal cyclical action is restored, put money where Wall Street is selling and rotate money out of the sectors where they are buying. It takes time, but eventually that dip will look very small compared to your all-time returns.
Don’t sell U will make it back
time and consistency
Meh that's what a few months wages on an average salary. You're 16. Just go "oops" bag hold it to see what happens and move on.
If RobinHood let you open an account under 18....maybe a lawsuit against them for letting minors trade stocks on their platform....which I'm sure is illegal and is another failure by their company. You'll make millions.
Hold and wait. It won't happen overnight.
HODL.
Go buy a lawnmower and weedeater with a gas can a spool of weedeater string and go cut people's grass. Make them pay in cash and put it in ammo boxes and bury it in my backyard for safekeeping.
Might bounce back. Don't gamble anymore. Work a lot, save, and invest in broad based index funds. The new money over the next decade will more than make up for any that is still lost.
Hodl (gme)
Consider it tuition. What you have gained is experience. Learn from it.
Don't put all your savings directly in the stockmarket. You are young, wait a few months to see where this shitshow goes, then jump back in. Not all at once, here and there as you don't know how long it may drop. Put some money in index funds so if you have bad days with your individual picks, that money will seem stable. Sell when you think you're a stock genius, buy when you have lost hope.
HODL. IT’S THE ONLY WAY
Time In The Market
Tbh. If you were investing in long term stonks, just hold. DCA and don’t stress it. You are only 16, I’m already down 10k Year over Year and I’m still up 90% YoY. Create a strategy, mine is 60% dedicated ETF stocks (like VOO), 30% dividends (DFS, JEPQ, MAIN,etc), and for shits and giggles 10% yolo plays (wallstreetbet plays, short squeeze plays, Tesla, crypto, etc). Also tax write off up to 3k per year so, February is going to look nice for me lol
your future is bright, work hard and you'll make up those money in no time.
You've got the rest of your life to make that money back, and you will in multiples. Take it as a $6,000 education expense.
You have lost this year… but hold.
At the beginning of COVID my portfolio was super bad.
Consider it gone, check back in a few years. Get a job
Cash out when you graduate college, maybe by then you’ll have made your money back
Simply buy the peak, sell the dip.
I’m just gonna wait and watch it burn. Then rise from the ashes in a mighty blast on the next bull run in a couple of years
Keep grinding Focus on learning a skill. Invest only with extra money that can be lost. It’ll come back over time but buy companies you want to own not ones that you think can make you rich wuick
Hold.. honestly
Boomer stocks. Think about what people need to survive and what business will survive where we are headed, which is a slow down. Food and shelter. Walmart is doing good and Kraft, just some examples of the growers over the last few months. This will pass and your money will grow again, but it will be a moment before we’re flying high again.
You wait.
Average down 👍
if you're 16, you have a lot of time to stay in the market. just HODL
You hold. You average down. You wait.
Get a job. This isn’t one.
Start yours father's taxi again
You don't. Get a job and invest in yourself through college or trade school
Get a job?
Get an adult to call the broker and yell at them for selling financial products to children. Might get it all back!
The heck you investing in at 16 fam? You should be slowly accumulating blue chip dividend stocks. At your age you can get some serious return down the road.
You're in too deep to sell man. Find where you'd be okay cutting ties, whether it's a break even price or a specific loss that not %80+ loss om your position. Now your only step is to just hold it. No HODL or WSB talk. Literally just hold it and hope for the best. You may be holding it for years but that's your only choice unless you just sell.
Buy Lumen
Do what you want to do, sink your teeth into it, it's thinking about an optional side project, it's like a springboard on your way forward, make your own plans and make yourself feel more accomplished.
Ask your parents for $6,000 more dollars.
Dont sell. Wait 10 years. Profit
You're 16. Just wait. It will go back up at some point in your life.
The good news is that you only have 1000 left to lose. The other good news is that, provided you don't leverage yourself or trade options, you can only ever face losses of 100%, but your gains can be much higher.
#dogecoin to the moon brother :)
Go find a job
Don’t pull out. Just keep it in there as long as you can
Get educated, work hard, earn money, put that in index and you will recover 4 figure loss in no time.
Keep investing then wait until you retire you’ll have millions. Markets go up and down don’t let this discourage you.
get a job
This is what you get for listening to WSB
You work and eat a pay check
You are 16 and have more money than me in my 30s After losses that is
https://youtu.be/HSFHW_rW5GY
Buy GME and just hold. You’ll make you’re 6 grand back with patience and diamond hands.
Lol dude...
You start investing in yourself.
Buy VTI or VTSAX and hold. Don't look at your account unless you are buying more VTI or VTSAX. In 20 years you will be rich.
Do the opposite.
How do you even have an account. I’m assuming it’s your parents.
Go to work
Dumpster behind Wendy. 20% return if you overcome your gag reflex
Rip
You most likely won’t. Not on the stock market at least, get to work.
Mcdonalds is hiring, like 2 months and quit
Put it in an s&p 500 index fund, contribute monthly, and forget about it. Focus on school
Get off of robinhood
You don’t. You wait.
Don't worry; it's a recession. It will pass. Hold if you can and find safer alternatives. Probably find a job in the meanwhile to while you're at it.
Oof
Aaaaand it's gone.
Get a job
Hold 5-10 years haha
Stop buying trendy shit
You hold for another 5 years. The stock market always recovers
anyone who knows forex well here??🤔🤔
Sit tight wait for the Republicans to get back in office I’m down over 30g
Hold!!!
Maybe start reading? Apparently you are not following a sound investing strategy
I had a 62 Corvair - bet no one remembers them/ made by Chevy. You’re young and market will come back. I’m old & losing lots.
Depending on what kind of stocks you have there, advice would be:
Your 16. Get over it now. Wait til you have real $ on the line. This is a good hard lesson for you to stay humble
Wait. Don't cash out. Keep investing in mutual funds. In a year or two you'll be way ahead.
Hold and u lost nothing. It may take some years but it will return
I'm 5 and what is this?
Just don’t sell, and you will hopefully gain it all back in a year or to.
You wait. Do not sell now. Join the army, you wont have time to trade stocks for a while.
all you need is 2 things kid!
Start shorting?
You’ll make that with one summer’s work
That’s the neat thing, you don’t
Wait
LOL get a job