As the title said, I’m 15 years old and have AU$1400 saved up. I no longer have a job and am working on a small business of mine, which has just $300 in revenue in the last few months.

The reason I’m here is because I’m not sure if I should invest in some compounding assets or something else, and if I should educate myself on stocks/dividends before making a decision?

I have read finance books such as Rich Dad Poor Dad, the Warren Buffett Way, and others, so I do know a lot about finance/business considering my age.

I previously had a job as a dishwasher for AU$16 per hour, and so I got $1700 from that after working for 5 months.

If I should ask this on a different r/, please direct me there so I can figure out what I should do :)

  • alpha7158@alien.topBEnglish
    1·
    2 years ago

    Honestly, age aside, given what you are doing I’d probably keep it aside for working capital (think of it like an emergency fund for your day to day business spending).

    Index investments etc are ways to keep wealth and potentially grow it over time. But it’s not a way to earn money quickly unless you are very lucky. They are good to learn about, and index investing subjectively good advice that entrepreneurs often do with their wealth, but index investing is not entrepreneurship.

    So if your goal is to be an entrepreneur, then the entrepreneurial thing to do is to use that capital to help you with your business.

    Other ways to spend it:

    1. Marketing (start small, test, spend more once you found a channel that work)
    2. Equipment. E.g. Could a new computer help you to be more effective?
    3. Self learning. E.g. could a $200 online leadership course or $20 Masterclass subscription help you to be more effective.
    4. Graphic design to improve your small business branding and make you come across more pro.