# Join me in my journey starting at -50K in debt from student loans and stock fun



## ctee (Dec 18, 2017)

Age: 26
Student loan debt starting: $49,500 
Background: Parents never helped me with anything, haven't lived at home in 9 years. Worked through school, helped out my parents even though they never gave me anything but i guess they can't help anyways. Kept a good credit score and live in one of the most expensive cities in Canada. 
Current debt: $38,000 

Investments:
Currently dabbling in penny stocks for short term gain, and some long term stocks. 
holdings: abbatis for short term
aurora cannabis for long term (less than 1 year)

RRSP: $6,000

Watch me go from nothing to a lot in a few years ! very motivated in buying property, stocks and working lots of overtime!


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## kelaa (Apr 5, 2016)

My advise is that dabbling in penny stocks and speculative stocks is not a financial plan for most people. It might be a hobby or source of entertainment. Most of us on this forum won''t get to financial success by making a few thousand a year on good trades. We'll get there by keeping our budgets under control and investing consistently. 

But then again, I think you have to stay mostly true to your nature. Have you read those investor profiles where someone became a millionaire multiple times in their lives through junior resource stocks, and then other times they were so broke they had to borrow money from their spouse to recapitalize? Wouldn't work for me, but it obviously works for them.


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## Mookie (Feb 29, 2012)

Being young and motivated to get ahead financially is a great start, but I agree with kelaa that dabbling in penny stocks is not the best way to get there. 

With very few exceptions, most successful investors take a long term “get rich slowly” approach by investing in a balanced portfolio of solid and stable blue chip companies (either directly through stocks, or via ETFs or low fee mutual funds). This may not be nearly as exciting to you as your plan to go “from nothing to a lot in a few years”, but is more likely to actually succeed.

I would also suggest that you eliminate that debt of yours before you start investing. This will give you time to read up on the subject and make better investing decisions when the time comes.


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