I’m 14 years old with $5,000 and a job at Tim Hortons. I really want to make more of it. I don’t have access to a computer. The only thing I’m really good at is games. Please give your best advice.
Being 14 gives you a great opportunity: the magic of compounding interest can grow your money significantly. Every paycheck, save a chunk and put it into a mutual fund that invests in an index fund. For example, if you save $100 a month, you could have around $40,000 in 20 years and $200,000 when you turn 50. Amazing, right? You can do this on your phone with a brokerage app (like Robinhood), but you’ll need an adult to help you set it up since you’re not 18 yet.
@BudgetBoss3
FXAIX is a great choice.
Consider buying a computer.
Drew said:
Consider buying a computer.
Why?
Drew said:
Consider buying a computer.
Why?
A computer is essential for investing. At 14, you may need your parents’ help to get started.
Why?
A computer is essential for investing. At 14, you may need your parents’ help to get started.
Interesting.
@Ren
A Roth IRA is a good option. I’m curious to see what others suggest.
You could try streaming! It might take time to start earning, but it allows you to make money from gaming.
Skyler said:
You could try streaming! It might take time to start earning, but it allows you to make money from gaming.
All I have is an Xbox though 
.
Skyler said:
You could try streaming! It might take time to start earning, but it allows you to make money from gaming.
What games are you into? Streaming is a great option! You might also check out Tribally, a Web3 gaming platform that rewards players and offers features like staking and PvP challenges.
If you start saving $200 a month at a 6% interest rate, by 60, you could have around $502,810 due to compounding. Investing your $5,000 now could grow to about $150,000 by the time you’re 67.
Macon said:
If you start saving $200 a month at a 6% interest rate, by 60, you could have around $502,810 due to compounding. Investing your $5,000 now could grow to about $150,000 by the time you’re 67.
I feel like now is the time to take risks.
@Ren
What risks are you considering?
Macon said:
@Ren
What risks are you considering?
Nothing. I guess that’s why I’m here.
Macon said:
@Ren
What risks are you considering?
Nothing. I guess that’s why I’m here.
If you’re unsure, it’s better to wait and save. You can start investing at 18 and feel relaxed about your finances later.
Look for renewed ThinkPads on Amazon. You can get a great computer for under $200. Renewed gaming PCs are about $700 if you want to mine games.
Put it in a high-yield CD or savings account and leave it alone.
Work with your parents to get a laptop. Being a minor, they’ll need to authorize any investments. Once you have a computer, consider starting a YouTube channel to make money. YouTube has tutorials to help you get started.