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Comment by treebog | Hacker News Reader

Rather than trying to find some get rich quick scheme, I really recommend you find work you enjoy that pays money and prepare to work for another 10-20 years. Invest wisely and avoid risky schemes like cryptocurrency or trading.

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I expect OP is young (as am I) and our biggest threat is that we often don't know what the wise investment is. My personal strategy is to invest in: Skills > Tools > Relationships > Knowledge > Cash for rainy day > Stocks > Crypto/Prediction markets/gambling. The last one feeds into the Skills/Knowledge investment, and I've often heard it's not worth doing at all; but learning to flip $10 of garbage asset into $11 in a crummy market sounded like a skill worth risking $10 to learn, and it's given me huge respect for existing financial institutions because I was able to personally encounter all the risks/problems they protect society from.

Nobody knows what a great investment is, just understand your risk threshold and be OK with taking risks.

If you want a general rule of thumb look to invest in the broader market mainly and then have smaller portions of your portfolio invested in riskier assets.

This. The Bogleheads strategy is maybe not exciting, but I believe it works if you stick to it.

If your time horizon is long enough (which is it because you are young) just put your money in the stock market. It will climb over 20 years even if there are some down years. It's not a get rich quick scheme but its an easy way to acquire wealth over time. It has served me really well and I'm in my early 30's.

Deviation away from the boring 401k/RRSP/SIPP/ROTH/TFSA/ISA into index funds, without justification, is just another form of "get rich quick".

The best source I know of for learning to invest is The Bogleheads’ Guide to Investing. It doesn’t just tell you what to invest in, it explains the why.

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