Teenager doesn't know what to do with his "considerable" amount of money

LH32k on 10/07/2017 - 23:38

[Sorry for the clickbaity title]
Hi everyone,

Let me just start off by letting everyone know that this is my first topic on OzB, I've been silently browsing for a few months now. Sometimes wasting hours just read interesting topics, threads and discussions here. I'd have to say my favorite was the AMA from the Victorian Cop. Sorry for not contributing :(

Anyways down to the point, I'm a teenager in my last year(s) of high school and have saved up quite a bit of money through various casual jobs but mainly through crypto-currencies, buying/selling and a few other small ventures. I've set aside around 45k for my future self and am not sure to do with the remaining ~25k. I have thought about going bigger into trading but it just seems like a very time consuming task, and with my HSC around the corner I do obviously want to focus on that.

Investment was something I have seriously considered but never really had the balls to go all in; and Before all the "buy cool shit" comments, I already own basically everything that I need and/or want, blown alot on useless shit that I'll probably never use. The only thing left would be a house(lol) and car which I can't quite justify as the only place I go to is school. The last option would just be to save it all which is obviously the smart choice, but I feel like I'm wasting it if I'm not making anything from it. I could be silly but that's just how it would go and I'd probably get tempted anyway and do something stupid.

Yeah that's basically it, Let me know if this post is in the wrong category or whatever and I'll do my best to get it sorted.

Cheers :)

Financial

Comments

  • TheBilly on 11/07/2017 - 11:37

    Why not just keep doing what you did to get that much in the first place?

    • idonotknowwhy on 11/07/2017 - 11:47
      +3

      because crypto may be a bubble.

      • TheBilly on 11/07/2017 - 11:50

        Not necessarily Crypto - Obviously the guys learnt and developed the ability to make money from crypto, use this skill of learning and identifying opportunity to just keep doing the same thing in other areas - nobody just makes 100k and then just goes… oh I have no idea what to anymore.

        • H32k on 11/07/2017 - 12:02

          Yeah nah, I am still no doubt continuing but I feel like now I'm at a position where I can invest part of what I have made as sort of like a stepping stone to something greater.

        • idonotknowwhy on 11/07/2017 - 12:05
          +2

          You need to be careful with that.
          I made decent money on crypto over the last few years, and then tried the stock market. Much more difficult :(

        • TheBilly on 11/07/2017 - 12:07

          @H32017:

          Look at everything as a % return against what you have invested. If you are making a high percentage return doing what you are doing, don't waste your time with other things. (Excuse my ignorance as I don't know how crypto works) Hypothetically if Crypto is returning you 30% and you understand your risks and when to or when not to buy; Why should you invest in something else purely for the purposes of being greater - why not just scale up your investment if you want more? i.e. a property developer doing town houses can earn similar profit as the guy doing apartments on a percentage basis (20%-30%) the only difference is scale and risk.

        • TheBilly on 11/07/2017 - 12:08

          @idonotknowwhy:

          I would have to agree, but I still think if you make a tonne in one area, you have a natural tendency to be able to see opportunity elsewhere.

        • H32k on 11/07/2017 - 12:51

          @TheBilly:

          Yeah thats how I feel right now, Like its just sitting there and I'm not making much of it

  • Shame on 11/07/2017 - 11:44

    Max long XIV ETF - up 78.5% this year

  • vicosads on 11/07/2017 - 11:51

    I'll invest it in bitcoin for only a 20% fee

    • H32k on 11/07/2017 - 12:05

      I hopped off the BTC train a few stations ago ;)

  • jchowx on 11/07/2017 - 11:53
    +4

    I was in a similar situation when I was younger. I saved $10K by the first year out of high school. I took some time off and travelled on and off for the next few years while juggling university. Best decision of my life.

    I've now travelled well over 30 countries, made countless friends across the world, changed into a more confident person and have started a grad position this year and feel like I am rich in experiences whilst everyone I meet regrets they did not travel more now that they are time poor but have the cash. My goal now is to save for a property, expand my share portfolio, build my wealth, etc etc.

    Don't take your 'free' time for granted at this stage in your life. You may not see the importance in travelling now and think you have all the time in the world, but down the track when you are working full time you will lust for that sense of adventure and ability to be impulsive.

    Good luck.

    • jchowx on 11/07/2017 - 11:55

      P.S. I will trade some travel tips for some crypto tips? Haha I want to get in the game!

      • H32k on 11/07/2017 - 12:00
        +1

        If you need tips on crypto dont be afraid to ask! haha, along with me, the community is generally very welcoming and love to help out.

        Thanks also for the advice on travelling.

  • aston177 on 11/07/2017 - 12:30
    +3

    Hey mate,
    What tips do you have for starting out in crypto trading? I am also in the final years of high school and I have earned some money thru casual jobs- keen on having a crack at crypto trading. You've done a bloody good effort setting yourself up financially at this age- don't know any mates who have managed to build up that amount of cash.
    Cheers in advance for your help :)

    • nativ on 11/07/2017 - 12:55

      Bumping because I also share an interest. Everywhere I look online is just people trying to advertise their website.

  • Chubbsmcfatflabs on 11/07/2017 - 13:09
    +1

    invest 75% 10k in blue chips, ETFs.
    Rest = Go OS for a working holiday…

    You wont get a chance to do it again when you have no responsibilities..could be the time of your life..

  • dufflover on 11/07/2017 - 13:22

    The last option would just be to save it all which is obviously the smart choice, but I feel like I'm wasting it if I'm not making anything from it. I could be silly but that's just how it would go and I'd probably get tempted anyway and do something stupid.

    Then it won't matter how much wealth you end up with. You've obviously heard of rich people going broke over the many years; either because it was all paper speculative wealth (share prices or property or whatever), some because they just spent it all being used to a high life.

  • montorola on 11/07/2017 - 13:35

    OP, how old are you?

    I was gonna say to travel and buy a motorcycle!

    Freedom > all

    • H32k on 11/07/2017 - 13:45

      Mid - late teens, dont have my motorcycle license unfortunately :(

  • abb on 11/07/2017 - 13:40

    Good Investment: Buy VGS via any online stockbroker. It's "world ex-Australia", so a good balance to your (future) property empire.

    Better Investment: Gap year!

    Best Investment: pay for me to have a gap year ;)

  • [Deactivated] on 11/07/2017 - 14:46

    invest in an $80,000 car

    • H32k on 11/07/2017 - 17:38

      Genius!

  • keishton on 11/07/2017 - 16:34

    probs get a car, youll need it sooner or later. other wise put it all into vanguards. VTS has been pretty decent lately 20% per year looks like

    • H32k on 11/07/2017 - 16:36

      Ill probably buy something cheap if I do get a car as all I need to do is get to school and back, maybe something like a Lancer or a '04-'05 Impreza RS. However once I get a full license ill be looking at something better.

      • keishton on 11/07/2017 - 19:03

        Do you still wanna look cool and gangsta? If not then get a corolla bruh.

      • Icecold5000 on 12/07/2017 - 19:11

        I'd use the money to hire a UMAT tutor to ace the test to get into medicine. Graduate when I am 24 complete GP training program by age 28. Work 3 days a week and then surf the rest and still earn 180k. You are young now but take a look at guys coming out of offices in their 50s still having to work 40 or 50 hours a week UNTILL THEY ARE 67. Might be hard giving up your life until that age but it sucks being in an insecure corporate job you hate and still considering yourself lucky.

        Fark the Imprezza

        • H32k on 13/07/2017 - 17:01

          Well not to shit on medicine but I really have no interest in medicine, nor working that style of job

  • KLoNe on 11/07/2017 - 17:04

    Buy more crypto with the recent crash.

    • H32k on 11/07/2017 - 17:38

      Done with BTC now, only holding around 4BTC however I am pretty heavily invested in ETH and PASC, bought in aswell as setup mining rigs which are making me a decent amount at a slow rate

      • bassmaniac69 on 14/07/2017 - 12:16

        Lol, I am soooo effing old, I have no clue what any of what you said means!!

        I will Google it though, maybe this old dog can learn something :)

        But regardless well done on getting to where you are mate, hopefully your future is a bright one!

  • username999 on 11/07/2017 - 18:05
    +2

    When I was in my last year's of high school, I have 1500 bucks at most in my bank account and thought I was the sh*t!

    • gimli on 11/07/2017 - 19:45

      Nope Coca-Cola is always betterment

  • zambuck on 11/07/2017 - 20:39

    As at least one prior commenter mentioned, managed index funds seem like a good spot to park amounts greater than $5k until you decide at some point to buy a house. Management fees are fairly low, and rates or return tend to trend upwards in line with the stock market in general. If you wanted to be more speculative you could always go with some of the overseas markets like china or russia.

  • zambuck on 11/07/2017 - 20:40

    As at least one prior commenter mentioned, managed index funds seem like a good spot to park amounts greater than $5k until you decide at some point to buy a house. Management fees are fairly low, and rates or return tend in the long term to trend upwards in line with the stock market in general. If you wanted to be more speculative you could always go with some of the overseas markets like china or russia.

  • SaberX on 11/07/2017 - 21:24
    +3

    Save your money, and invest heavily in reading and educating yourself on how to invest and properly trade. Judging by your comments and reactions to the above you are still well from having the mature mindset required to really plough into trading or really building what is a considerable amount of money at your age - if put in the right hands. I apologise if i misjudge but from the sounds of it you have done very well at cryptocurrencies however it almost sounds like you are yet anotehr person in the right place and the right time. On something inherently speculative that will result in a heap of people who will not make any money, if anything lose a whole chunk of it. Good work on being first in, but there may be a much finder line to being a great trader than what you may misleadingly believe you may be by buying cryptocurrencies that are unsustainbly rocketing up.

    I say take your wealth, which is great for your age, and safeguard it until you are more educated to deploy it to profitable, sustainable ventures. And yes, as others have said - make your own way in life rather than assume all your parents investment properties will goto you. They could decide to use all their wealth up, strike trouble, medical issues etc. and overnight those properties could be gone. Relying on others or inheritance is not a surefire plan.

    Again - youve done well to get what money you have. Don't squander it away - your in an unique position at your age to make or break the rest of your life.

    • H32k on 12/07/2017 - 11:37

      Probably my favorite response so far.

      What fields/specifics would you recommend looking into. Also regarding the "right place at the right time", I'd like to think this wasn't the case as I have been trying to pick out seemingly profitable small ventures for the year or so I have invested my time in trying out new things. However in saying this, overall your points are 100% valid and I'd just like to thank you again for taking the time out of your day to help me out

    • outlander on 12/07/2017 - 15:21

      your in an unique position at your age to make or break the rest of your life.

      Lets not go making this into the only chance at a decent life for the poor lad. No matter what happens, wisely invest it or waste it, he's going to be okay. 25K's a lot, but the average person is only a few well good decisions away from that kind of money. If he loses this chance, they'll be another if he has the perseverance to keep trying

  • nobarginsarehere on 12/07/2017 - 00:11
    +2

    Once the ATO find money going into your bank account from mining, you will need to pay tax on it

    • djkelly69 on 12/07/2017 - 13:49

      I thought this was an interesting concept/discussion, so had a bit of a Google.

      ATO's thoughts are here.

  • noshopping on 12/07/2017 - 10:13

    45k has that been taxed? If not, don't leave it to late. A couple I knew didn't declare their capital gains and got hit with 200k tax bill. Lot of that was interest penalties. ATO generally won't touch you for years, then after 4 yrs when they catchup, you pay the bill, plus all the interest for those years. Most teenagers probably won't have hoards of $$ going into their account like yours, so you'll stick out big time in their db.

    • H32k on 13/07/2017 - 17:02

      According to the ATO and what I have read, doesnt look like i have to pay tax on cryptos

      • noshopping on 13/07/2017 - 18:14

        if u sell it, pretty sure its taxed as capital gains

  • jaackyy on 12/07/2017 - 10:44

    Just curious, but what exchange are you using for your trading of cryptos?

  • bobbified on 12/07/2017 - 11:17

    I thought for a second that this could be you! haha

    http://www.smh.com.au/money/investing/how-a-millennial-inves…

  • domingochavez on 12/07/2017 - 12:38

    Did you pay tax on your crypto earnings?

  • nrmd45 on 12/07/2017 - 15:06

    If you are definitely going to uni - set some aside for expenses during the 4 years of uni:

    • $500 textbooks per semester so around $3000
    • $200 Stationary budget per semester so $1200
    • And money for at least 1 or 2 computer and phone replacements over the 4 years so i'd say about $4000 for that.
    • A SENSIBLE car - you can get some pretty solid cars from the last 5 years for $15k and under. - Depending on where you live and what uni you're going to - I'd say if you live west of… Parramatta then you'll definitely want to include a car somewhere in your commute. All Western Sydney University campuses are basically driving mandatory and for the city universities, you're going to want to drive to a station and train it from there.

    The rest. Two options:

    • Save it in a term deposit or speak to your bank about sensible investment options for a future home/investment property
    • Pay your uni fees upfront. Just because HECS exists doesn't mean you have to use it. Pay upfront and it's one less debt to worry about in the future. Start your life immediately after graduating instead of being weighed down by debt.
  • Bunnyburger on 12/07/2017 - 15:17

    Hi, I posted this for the $2.5m guy in the other thread but this applies to you as well.

    "The Intelligent Investor by Benjamin Graham, A Random Walk on Walk Street by Burt Malkiel, One Up on Wall Street by Peter Lynch. These are the classics.

    Long story short passive investing beats active investing. Emphasis on less messing around and more diversification to ensure safe modest returns over a long period of time as opposed to increased volatility.The Intelligent Investor by Benjamin Graham, A Random Walk on Walk Street by Burt Malkiel, One Up on Wall Street by Peter Lynch. These are the classics."

    They go further to explain the younger you are the more calculated risk you can bear as well.

    Since you are younger I recommend two starter books "The Richest Man in Babylon" and "The Millionaire Next Door", they cover general principles but they'll help you lay a good foundation when it comes to dealing with wealth.

  • outlander on 12/07/2017 - 15:33

    Who do you want to be? That's always the first question anyone should ask themselves before looking for financial advice. If you don't know, you can easily end up taking the advice of someone more confident, advice on how they want to live their life, and wake up decades later unhappy. Then someone offers you drugs, and you're so desperate to feel something you take them, and BAM! It's all gone. Drugs can eat through a fortune just as fast as speculative trading made it

  • aaachu on 12/07/2017 - 17:22
    +1

    If life is a game of chess (or any game with objectively defined rules/goals) then there are always optimal/correct decisions in given scenarios, but it isn't.
    All these opinions people offer you, though with good intentions, are not very useful because they do not know what you really want in life and I am pretty sure you don't know what you truly want in life (very few do at your age). So the advice they are giving you is simply how they would spend it if THEY were you, which IMO is not very useful for you.

    Here are some questions that you might want to ask yourself before asking this question about how to spend your money

    • You said you've already bought all the things you want, so has any of it made you an overall happier person?
    • What are the things that increases your happiness (sustainable long-term wellbeing)?
    • What are the things that bring you pleasure (temporary joy)?
    • There are crossovers between the two; which of those conflicts (eating cakes makes me fat) and which are in alignment (hanging with friends nurtures our bond)?

    The above questions will be a starting point in realising what is important to you in life and possibly what you want in life, but to really learn about what you want, you cannot skip real experience, which is why I always recommend people to do at least one solo-trip in their life (it can be 2 weeks or 2 years). I'd grown/experience more in some of my solo-trips (i.e. 2 weeks cycling around NZ) than several years in my twenties.

    The better understanding of yourself and what is really important to you (this is a lifelong process), then the easier it is for you to know how to spend your money. Money is simply a tool in life which we gain by sacrificing our time in the present. Then the choice is, do we spend it on…
    1. Material things (what we need is actually very minimal)
    2. Experiences
    3. Investing your money to gain more time
    4. Effectively giving/sharing to those in need (don't just randomly adopt a child, check out kiva.org and look into effective altruism and get the best bang for your buck)

    So I won 25k playing poker when I was 22 in 2006, and I'd spent it on a car. If I was to make the decision again, I'd buy a cheaper car and consciously spend the rest of my money in each of the above categories, and measure how each one affects my happiness. This is practical philosophy; define your intentions, ask the right questions and then do testing. In this case I am experiment on myself to see what actually makes me happy. With more and more data, I will have more confidence in what actually makes me happy and what doesn't, then it's clear where I'd allocate/spend my money. And happiness is ultimately what we want right?

    • IndianaBargainHunter on 13/07/2017 - 11:17

      This is absolutely stellar advice. Wonderfully written and I totally second the notion of giving to kiva.org.

      At some point, the material things you own become a lodestone around your neck. Better to have experiences than material things that can outlive you.

  • Plug on 12/07/2017 - 17:24

    How about plonking a chunk into a super fund just in case your dreams don't quite come to fruition.

  • Mysterious Laptop on 12/07/2017 - 17:28

    since you're heading into HSC soon, you should have your Ps by now? just go out and get a toyota 86, theyve depreciated below 20k now or book a trip for after hsc

    EDIT: i can see you have an Evo in your display pic, im sure you would be keen on getting a mad car

  • TimboAus1234 on 12/07/2017 - 17:32
    +1

    Hi OP,

    I can only speak from my own experience, but I would say working holiday.

    Place your money in a high-interest account or something similar and travel and work being young it will give you some great experiences and a chance to meet a variety of different people I used to be a chef finished school at 16 did an apprenticeship and as soon as I was qualified travelled to the snow seasons. I did one in Perisher and one in Charlottes Pass, and then in the summer I worked in the tropics Hamilton Island, Hayman Island, Lindeman Island after that I went overseas and worked in Ireland, Austria and England. Came back a year or two later and through all that time of working, Drinking and partying had the insight in what I finally settled on what I wanted to do for my career. Went to Uni scored average GPA of HD in IT and now work for the government I believe travelling and learning to fend for myself for the years gave me a great kick up the arse. And when I went to uni albeit a bit older (25) I found that had higher work ethic than most (not all) of the other students.

    Also working in places where people have to spend a lot of money to get to is great and as there is a high turnaround with the staff you get to meet people who are travelling as well and will give you a couch to sleep on when you need it! Dont become a chef, haha but you could pickup bar work and will find it easy to get work in places like that and when you're done travelling you will have a nice nest egg to come back to.

  • exit on 12/07/2017 - 19:03
    -1

    Final year of school?

    Consider investing cash into tutoring and other sources of external help for your HSC, if you think a higher ATAR will open more doors for you.

  • Murdrum on 12/07/2017 - 19:44
    +1

    Not enough people have recommended travelling. Take a year of after Uni or sprinkle your travel throughout your Uni. Making the most of your breaks during the years at Uni is pretty important, Uni can be tough depending on your goals. Once you start your

    Maybe your cash (and parents?) could help you study at the top uni in the world for the field you want to study.

    In your career, if you end up working one of many well paying full time jobs, you may have commitments that reduce how much you can travel. Which, if you've had a taste of travel and haven't had your fill, you will regret.

  • chumlee on 12/07/2017 - 19:59

    You've done well to save that much money and invest in the right stuff at the right time so take an adventure and backpack overseas for a few months.

  • heidisapirate on 12/07/2017 - 20:31

    Go on a holiday. Especially if you haven't already. Go with your friends, or by yourself. You'll always get the chance to buy something at a later date, but going out and having an adventure and experiencing the world is something you'll always remember and treasure.

  • phunkyfeelone on 12/07/2017 - 20:57
    +1

    A bit of everything;
    - Travel: Those who haven't done it don't understand. You come back with a lifetime of interesting stories, you meet great people from diverse backgrounds, you'll regret it later if you don't, and nobody ever says "I wish I never did that". I blew my first house deposit backpacking around the world for a year - i met my (now ex) wife, i've seen more stuff than people can get their head around.
    - House: Keep saving for the cheapest house you can. No matter how sh!tty it is, you're better off than those paying off someone else's investment.
    - Car: you don't need a good car - get a small, reliable car for transport.

    While backpacking and travel, you'll get the girls - both while you're travelling and afterwards. It happens…

  • fizzle on 12/07/2017 - 21:18

    Gold and Military based shares. Companies that are into laser technology for tattoo removals (next boom) :)

  • chinanumberone on 12/07/2017 - 22:22

    Man you're insane!! I'm on a similiar boat about to hit yr 12 next year and only got around 2k banked.. I'm only 20 bucks into the crypto game hahaha since i havent figured out how to verify accounts as we're in Australia and under 18. Are you trading under your parents names or yours and what exchange do you use because your portfolio is really fat! Hope you keep it up we're the next gen crypto millionaires :)

  • asrey1975 on 12/07/2017 - 23:43
    +1

    Hi, Congratulations on making some money in crypto! Agree mining is a dead end game unless you have access to a server farm in china or where electricity is cheap and video cards are available.

    If you're already put the big chunk of money onto Bitcoin (and are holding on cold storage) well done! Always backup your keys, make sure you have several copies in a safe place and clearly labled - worst thing you can do is lose them/it and then its all gone.

    For the reset of the money? Put some aside for a decent holiday post HSC! unless of course your parents are willing to send you on a good break! say put $5k aside for that, take a friend!! Get a passport! make it interesting and have a fun reward for getting through the HSC!

    As for the rest, would think you should also put it on bitcoin (and HOLD) till after HSC, maybe put $10k across 2-3 of your favourite alt coins maybe. Do not need to be day trading any of these coins now once you've bought in, just hold till post-HSC and review it then :)

    FYI my tip is don't sell any bitcoin (or other holdings) - there is more money to be made with a buy/hold (for 5-10yrs) strategy if you can have the patience. Every time there is a new high, you think "sell sell!" - worst idea ever, this stuff (bitcoin) keeps going up), some of the alt coins do disappear over time though as you would know, so buy/hold bitcoin = #1 crypto strategy over time.

    PPS: Investing in bitcoin is going to pay off more than FX, stocks, shares, ETF, super (unless you put super into bitcoin), gold anything else IMO. Your on a winner here!

    Enjoy.

  • Eeples on 13/07/2017 - 01:33
    -1

    Money in the bank, in school, multiple properties coming your way…. perhaps you should donate big time to charity.

  • ProjectZero on 13/07/2017 - 09:11

    I personally wouldn't put it towards education because HECS (if eligible) is the best loan you can get… it only goes up with inflation and there isn't interest AFAIK.

    Put that 25k you have towards some type of investment, its not enough to get a property but its a start and you can continue to build up the funds until you can get a property (preferably a house with land so it continues to go up even after the bubble bursts). If you can't continue to build up your funds, I'd try some of the other investment opportunities mentioned here.

    Having more property is only going to be better for you, especially if they're paid off or are paying for themselves.

  • Reverse Snorkel on 13/07/2017 - 09:14

    Invest your money in safe shares. Get yourself a share manager if you are not sure. If you invest in big banks or companies that won't ever loose money, your money will grow while you do your study. Make that money work for you while it's not doing anything. Then when you are ready to come back, you can cash out and make a lot of money back.

  • jasonchen1207 on 13/07/2017 - 10:16

    Firstly, you've done extremely well being so young and having made and saved so much money.

    You have both time and money at your age and I would be investing both. What's important is knowing what kind of life you want to live and then preparing for that. A previous comment about spending the money travelling is definitely valid. You change so much depending on your experience from 18-25 and spending time and money to explore and discover yourself is very worthwhile. This can help you answer the question: What do I want to experience and do in this lifetime?

    At the same time, having a big load of cash is also a big advantage.
    I'll assume that you eventually want to live a life where you can enjoy most things without having to worry about money. (since you're on ozbargain) You can also start to think about the question: How can I set myself up so I won't have to work/worry about money for the rest of my life (and experience those things I want to experience)?

    You talk about buying a house or a car, but what about travelling, hotels, top quality tv, audio, etc. Then there are experiences that you need a lot of money for or that money cant buy. i.e Round the world trips, space travel (in future), spending time with celebrities, etc. Depending on the level of your wants and needs your requirements for money will be different.

    To be able maintain a level of financial independence I believe you need wisdom (get his by learning) + cash (for investment). For the learning, invest in your education, but for the sake of financial independent, not the typical stuff like University. Look into the top business/financial books, you can get these for under $25. There are great educational courses (and many scams) out there too that cost significantly more than a book. i.e. Landmark Education is worth checking out. I haven't done these but Anthony Robbins courses I've heard are good too. This is probably the best way to invest your time and money.

    Then you can look at different options of investing your money that give a better return than what everyone else is going for. What everyone else is going for (stocks, property, bonds) usually doesn't need you to be skilled at whatever it is. You put your money in there and forget about it. This is very passive (you have no control over how much you earn from it). If you go for something like a stable small business, your return could be much greater and at the same time you feel like you're growing into someone who can take on even more. For me it's a liquor store where I've got staff happily serving the customers.

    It appears that you're decent at trading, not everyone is. It may be worthwhile continuing to pursue that direction. If it's "time consuming" but it's made you more money than your peers, it probably is worth the time investment? As you get better at it you can do bigger trades and make more money in less time. I'm just saying its worth looking into further (i.e. finding a trading mentor even if it costs some money).

  • Lunatic on 13/07/2017 - 14:32

    You need to diversify ya bonds!

  • H32k on 13/07/2017 - 17:04

    Didn't expect this many comments to be honest haha! Thanks so much for all the responses so far and I read all of them but obviously cannot reply to everything. Sorry bout that

  • fruxo on 13/07/2017 - 17:41

    Travel. No contest.

    Take a year (or a few months at last) between school and uni to travel. After uni you will want to try and find a job in your field ASAP, not to mention you might be tied down with serious relationship etc. This period before uni is the optimal time to experience the world and maybe even gain some perspective on things.

    Especially in your situation where you have saved a sizeable sum and you are not worried about affording a house in the future etc.

    Seriously. Travel. It's the correct answer to your question. Saving can be done later. It doesn't sound like it's going to be a major concern for you.

  • jenkemjunkie on 13/07/2017 - 19:25

    how large is your parents power bill with your leet crypto mining rig?

    • H32k on 13/07/2017 - 21:13
      +1

      Not very, people overestimate how much power a few gpus use running at 60% power lol

  • CurrentCalculations on 14/07/2017 - 00:43

    Buy Nvidia shares on NASDAQ.

    Tesla, Audi, Mercedes, Volvo and Toyota have joined forces with them for the sole purpose of autonomous cars.
    Other car manufacturers use them for other purposes such as BMW's infotainment system.

    They're leading the pack, and most of these manufacturers are pushing for fully autonomous cars within the next several years.

    Leave your money in there for the next 5 - 10 years, and then wait for the Australian dollar to go quite low and cash out.

  • Irate Monk on 14/07/2017 - 12:07
    +1

    Travel lot, travel cheap to know the world and yourselves better. Maybe you can start with experiencing Ayahuasca at Iquitos, Peru. You can emerge as your own Ver 3.0. Then travel some more. Get a motorcycle, ride long distances.

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