I'm 19 and have saved up $1,000

I'm 19 and have saved up $1,000
I know its like pocket change for most people, but I want to learn how to invest this and move forward
Is there a stock market app or something for android that I can use to progress?
I want to start getting my life together and think about my future.

Look at robinhood

Thank you I'm downloading it now.
Do you have any experience with it?
I'm obviously not looking to make a million dollars in a week but I would like to know how much you've gained in the time you've use it?

>Wants to get life together
>Thinks 1k will do that for him

No reason to gamble it with a high risk taxxed market.
I would put it in a high yield online savings account and not touch it until you have saved up 6mo of living expenses to start. Once you have 6mo of living expenses don't touch it.

>high yield
>savings

mythical beast these days m8.

wait untill the market plummets eg. BP when the rig blew up. etc. then dump your money on that stock and wait.

i use stock trainer its free

i also made 2k on SNAPS first days of its IPO
and sold off everything in the first day and as you can see today its down 7.60%

If you dont know what you are doing buy a index etf and wait.

all these apps are bs and made to scam you

buy gold

Bad time to be investing in US equity markets. We have had a 8 year run up, we are near the top. Especially since Trump isn't going to get comprehensive tax reform done. If you want to invest in stocks dollar cost average in slowly and ladder the rest in CDs why you wait to trickle the money into stocks. Also historically very few managed funds beat the S&P 500 index over a five year horizon. KISS applies, go low cost and diverse holdings. Index funds are the way to go.

For a long term (1 year +) investor you are looking at an 8% average gain per year. Short term ( 1 > year) investor depends on what kind of risk you are working with. If you know how to swing trade you can make above the average percentage in a month or if you are good enough in a week. Of course the potential for how much you can lose increases with how much you can gain, that's apart of the risk. If you plan on short term investing then I recommend you heavily learn how to trade, same thing for long term but it isn't a necessary.

With that "smallish" amount of money and even more...
search for S&P 500 ETF and buy that.
Inform yourself what the actual product is.
Hold it for a long time 5 years or even longer.

+ You might to wait with your buying cause the market is a little blown up right now (just my oppinion)

1000USD * 7% = 1070USD/year

70USD / 12 months = 5.83USD/month

would it be stupid to invest in snaps again while its low now in the hopes of it getting back up high

i dont know why but in the last 6 months i have bin able to make around 300-500 a day b4 taxes on just trading low end stocks no higher then 1.75 a share. investing with around 5-7k and never holding on to a stock for more then one day

Not exactly because growth compounds. Rule of 72 and all that.

Wow. Way to pay short term capital gains there champ.

You can also try betting on esports when you know the pro scene. I made like 5k last LCK summer split. Just dont bet on some shitty tier 4 russian csgo matches

whats this mean?

i could never now bc of the high capital just to get in the risk would be too high for the short term return......bc im still poor :)

capital gains (essentially money your money makes) are taxed differently than income (money your labor makes); depending on your country, you can be taxed at different rates between long and short term capital gains (with short term being a higher tax rate, usually)

So how much of his 2k would he lose to taxes for selling his stocks so quickly
and do you pay the taxes upfront while trading the stocks or at the end of the year?

Anyone telling you to invest has no idea what they're talking about. $1000 is not even chump change, you won't make anything with it. Put it into savings, continue saving until you have several months' worth of expenses saved up.
Once you have that, then you can look into index funds. If you have a job at that point that has a 401k or roth IRA, you should take advantage of that.

tl;dr: Save your money, you will make nothing trying to play the stock market

my capital tax on 2k short term (less then a year) is around 600.......i know it sounds bad....but on the good side i work from home....im lazy as hell....i get to be with my kid all day and save around 300 a week on child care