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22 Years old and I’m serious debt and loses. - Any advice to build myself out of this hole? Any advice would be appreciated
Wallstreetbets
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Hungryhippolife
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22 Years old and I’m serious debt and loses. - Any advice to build myself out of this hole? Any advice would be appreciated
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L
Lykshares
1y Staff
Man, this is nothing comped to student loans and my cc debt.
*welcome to wendy's*
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L
Lykshares
1y Staff
The best advice. Stop trading. At 22 your gonna take a lot of risks in life. It’s apart of being in your early 20s. Make those risks enjoyable. Go to Vegas if you want to gamble at-least you can get laid gambling that way. Staring at your phone all day
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shaking with anxiety is no way to enjoy your 20s.
As far as what you should do now with your 16k loss. Go back to work because you are not one of the 10 people here who made it to retirement at 20 with a lucky gamble. Don’t worry neither am I or most on here. It won’t take you that long to recover. Put your money in a robo advisor or balanced funds that you don’t have to look at or touch. Little by little over time.
If you want to keep trading because it’s fun. I would not play with more than 1-5% of your total net assets. So if your in debt and don’t have assets. That is 0 right now. That’s okay you will trade better when your future does not depend on the success of your Robinhood account.
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Lykshares
1y Staff
You still have 40 years of work ahead!
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L
Lykshares
1y Staff
I think it is too late to gain interest on cash in your robinhood account tbh
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