Financial strategies

Just finished Uni, should have a graduate job by at least next year inshallah but my problem is I don’t want to rely on one income and be stuck in this 9-5 rat race no matter how good a salary is. What can I do? I’ve heard and know well about investing in index funds and ETFs but that’s a long term thing I’ll eventually get around to doing. Share some advice if you’re doing well for yourself
 

Apollo

Staff Member
Just finished Uni, should have a graduate job by at least next year inshallah but my problem is I don’t want to rely on one income and be stuck in this 9-5 rat race no matter how good a salary is. What can I do? I’ve heard and know well about investing in index funds and ETFs but that’s a long term thing I’ll eventually get around to doing. Share some advice if you’re doing well for yourself

I suggest dollar cost averaging into ARK ETFs:


They outperform the market and are not that risky.

But you have to hold for at least five years otherwise don't even bother as short term volatility can make you sell at a low point. You need to hold for at least five years minimum.
 
I suggest dollar cost averaging into ARK ETFs:


They outperform the market and are not that risky.

But you have to hold for at least five years otherwise don't even bother as short term volatility can make you sell at a low point. You need to hold for at least five years minimum.
I’ll look into thanks but what is the minimum amount worth putting into
 
I suggest dollar cost averaging into ARK ETFs:


They outperform the market and are not that risky.

But you have to hold for at least five years otherwise don't even bother as short term volatility can make you sell at a low point. You need to hold for at least five years minimum.
And as far as the deen is concerned where does this land? Halal?
 

Ras

It's all so tiresome
VIP
Just finished Uni, should have a graduate job by at least next year inshallah but my problem is I don’t want to rely on one income and be stuck in this 9-5 rat race no matter how good a salary is. What can I do? I’ve heard and know well about investing in index funds and ETFs but that’s a long term thing I’ll eventually get around to doing. Share some advice if you’re doing well for yourself

You can't grow what you don't have. Your first priority is to increase your income then savings and only then look for opportunities with high yields.

Real estate is too heated and the stock market doesn't make sense.

You'll get much higher returns investing in your own skills and a side hustle (using those same skills).

A lot more work required but there's higher chance of success.
 

Apollo

Staff Member
And as far as the deen is concerned where does this land? Halal?

There is no such thing as Islamic banking. Every bank uses interest rates, they just change the name.

As for those returns, it does not come from interest rates, but from investing in innovative companies like Tesla etc.
 
You can't grow what you don't have. Your first priority is to increase your income then savings and only then look for opportunities with high yields.

Real estate is too heated and the stock market doesn't make sense.

You'll get much higher returns investing in your own skills and a side hustle (using those same skills).

A lot more work required but there's higher chance of success.
How about the forex market, I am a college student in the meantime but considering it as a simple way of getting into the business world which is something I wanted so badly
 

Ras

It's all so tiresome
VIP
How about the forex market, I am a college student in the meantime but considering it as a simple way of getting into the business world which is something I wanted so badly

Forex is interesting but that stuff goes way over my head.

I don't like dealing with the leverage you need to make actual money.

Forex without leverage is mostly for large companies that want to minimize their currency risk exposure.

Don't believe programs or people that say they can make a 10% return in a day...

It takes one mistake on a highly leveraged position to bankrupt you...

Get rich slowly 😂
 
Forex is interesting but that stuff goes way over my head.

I don't like dealing with the leverage you need to make actual money.

Forex without leverage is mostly for large companies that want to minimize their currency risk exposure.

Don't believe programs or people that say they can make a 10% return in a day...

It takes one mistake on a highly leveraged position to bankrupt you...

Get rich slowly 😂
I think the leverage in fx market is all about personal choices, but most of the traders even the experienced fulltime traders are adviced not to take a higher leverages which is more of gambling than trading but rather to trade with 1% or 2% leverage which means if you hold a 10k initial deposit and the market moves 50pips against your predictions, then you would have to lose only 50 dollars.

Most of those statistics I've seen about this stuff is scary, indicating that only 1% of retail traders get a positive rewards while all other ones lose their money to a larger institutional companies and brokers.

But the only things I get appealing about fx is that its user fraindly, allows you to trade in the world financial markets at any time and anywhere you are with no hardware logistics and alot of stuff to compile and manage and above all it enables you to minimize your risk when youre wrong and maximize your gains when you are right.

My motto is get rich quick so I think this stuff suits me no matter of the countless warnings about its risks:silanyolaugh: cuz I dont wanna live for salary through out my entire life
 

Ras

It's all so tiresome
VIP
I think the leverage in fx market is all about personal choices, but most of the traders even the experienced fulltime traders are adviced not to take a higher leverages which is more of gambling than trading but rather to trade with 1% or 2% leverage which means if you hold a 10k initial deposit and the market moves 50pips against your predictions, then you would have to lose only 50 dollars.

Most of those statistics I've seen about this stuff is scary, indicating that only 1% of retail traders get a positive rewards while all other ones lose their money to a larger institutional companies and brokers.

But the only things I get appealing about fx is that its user fraindly, allows you to trade in the world financial markets at any time and anywhere you are with no hardware logistics and alot of stuff to compile and manage and above all it enables you to minimize your risk when youre wrong and maximize your gains when you are right.

My motto is get rich quick so I think this stuff suits me no matter of the countless warnings about its risks:silanyolaugh: cuz I dont wanna live for salary through out my entire life

Are you really going to limit yourself to $50?

Only advice here is don't gamble your life savings away. The market never goes as planned.

There's usually a high margin required so if you end up losing everything if the market suddenly puts you 50% in the red.

The higher the leverage the higher the margin requirement.

Then there's the high interest rate for hokding5 positions overnight...
 

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