3 answers
Elias
Student
Miami Gardens, Florida
9
Questions
Asked
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Is it better to invest into a business in order to be able to create your own company, after you complete your service for the military or go to college to earn a degree?
I am 18 years old and would want to join the navy for a minimum of 5 years, but I haven't exactly decided on what to do when I return back from the navy. I would like to invest into the stock market and crypto but I need to learn more about it, In order to invest and to be fully aware of everything. Also, I would like to start my own business and to run my own company one day after my 5 years into the navy. #business #Decisions #Soontobeveteran
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3 answers
Randy Grady
Sales
2
Answers
Atlanta, Georgia
Updated
Randy’s Answer
Elias: I admire your desire to join the military. My personal experience was outstanding. I spent 4 years in the US Army and it was a great experience. You develop skills and build upon your talents in ways you never would imagine. The military will challenge you everyday and you will be a better person for it.
Leveraging your military experience in civilian life is incredibly powerful. Applying the skills you learn from your military experiences will be reflected in how you make decisions everyday. Whether you decide to attend higher education or start your own business or work for someone, your military background will follow you. Many employers prefer veterans because they tend to be loyal, hard working, honest and dependable.
Looking beyond your military aspirations, what is it you love to do? Is this something you can do in the Navy? Perhaps you can gain valuable experience and excellent training in the Navy that can be leveraged in your career after the Navy.
As far as investing goes, perhaps a financial advisor is someone you should check with before you do anything with your hard-earned money.
Leveraging your military experience in civilian life is incredibly powerful. Applying the skills you learn from your military experiences will be reflected in how you make decisions everyday. Whether you decide to attend higher education or start your own business or work for someone, your military background will follow you. Many employers prefer veterans because they tend to be loyal, hard working, honest and dependable.
Looking beyond your military aspirations, what is it you love to do? Is this something you can do in the Navy? Perhaps you can gain valuable experience and excellent training in the Navy that can be leveraged in your career after the Navy.
As far as investing goes, perhaps a financial advisor is someone you should check with before you do anything with your hard-earned money.
Rahul Indoria
Banking
1
Answer
Singapore
Updated
Rahul’s Answer
Hi Elias, I agree with Randy that military experience will help you with potential employers for the qualities he highlighted. Even more, i think time in the military will help you build discipline and self confidence - essentials for success in business. These qualities are essential to help you face a challenge, remain calm and find a solution.
Which brings me to your aspiration of investing in the stock market / crypto and starting a business.
1. Investing first - start by reading financial news. It will be hard / confusing at first. But if you stay the course and start to google stuff you dont understand, you will begin to catch up. Hopefully, you will have enough time in the 5 years in the Navy to keep reading up and improving your language. Also, you could read Warren Buffet's annual letters to shareholders - i mention these not because of a fascination with the man, but the letters are simply written and provide a clear understanding of drivers of a variety of businesses.
2. Starting a business - with all the background knowledge, you will still find yourself learning on the fly and making mistakes. This is because you would need to gain the experience to develop 'intuition' of dealing with people. This is perhaps the most important aspect and includes employees, partners, counterparties (customers, suppliers, service providers, lawyers, etc. ), govt agencies, banks / financiers etc. A well-run business will need to account for all these people being satisfied and yet needing you enough to not rip you off.
Hope this helps and all the best !
Which brings me to your aspiration of investing in the stock market / crypto and starting a business.
1. Investing first - start by reading financial news. It will be hard / confusing at first. But if you stay the course and start to google stuff you dont understand, you will begin to catch up. Hopefully, you will have enough time in the 5 years in the Navy to keep reading up and improving your language. Also, you could read Warren Buffet's annual letters to shareholders - i mention these not because of a fascination with the man, but the letters are simply written and provide a clear understanding of drivers of a variety of businesses.
2. Starting a business - with all the background knowledge, you will still find yourself learning on the fly and making mistakes. This is because you would need to gain the experience to develop 'intuition' of dealing with people. This is perhaps the most important aspect and includes employees, partners, counterparties (customers, suppliers, service providers, lawyers, etc. ), govt agencies, banks / financiers etc. A well-run business will need to account for all these people being satisfied and yet needing you enough to not rip you off.
Hope this helps and all the best !
Shady Abdelhamid
Auditor
8
Answers
Cairo, Cairo Governorate, Egypt
Updated
Shady’s Answer
Elias: I think that you have to invest in yourself by Increasing your knowledge to become what you want
Hey Shady, this is good general advice but this student is specifically asking about which option (investing in a business or college) would be better for them. Could you provide any insight around that?
Gurpreet Lally, Admin