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OfflineYaya
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Registered: 01/19/20
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Last seen: 3 years, 10 months
Investment 4 Friend
    #26442277 - 01/19/20 08:13 PM (4 years, 10 days ago)

Peace all
Need advice, my friend recently came into 20,000usd. He wants to know how to invest it/best investment vehicles to grow fairly quickly. He's recently unemployed.

His background:
doesn't own a house (rents)
Doesn't have car car
Only debt is student loans


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InvisibleAhab McBathsalts
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Re: Investment 4 Friend [Re: Yaya] * 3
    #26442293 - 01/19/20 08:24 PM (4 years, 10 days ago)

Pay off student loans. Guaranteed risk-free return.


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"Nobody exists on purpose. Nobody belongs anywhere. Everybody's going to die."


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OfflinegeokillsA
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Re: Investment 4 Friend [Re: Ahab McBathsalts] * 2
    #26442417 - 01/19/20 10:04 PM (4 years, 10 days ago)

Yeah, pay off the loans and if there's some scratch left over, consider opening up a Roth IRA investment account that can then be placed into any number of more or less risky investments.  Unfortunately, $20K isn't a huge sum in the good ol' USA these days, so depending on what amount is owed on the debt, it may make sense to just roll the money over in short term CD's as a sort of quasi-savings/emergency fund.  If there is money left over and this friend has reliable income however, definitely consider the Roth IRA for long term tax advantaged capital appreciation.


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OfflineBrian Jones
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Re: Investment 4 Friend [Re: Ahab McBathsalts]
    #26442702 - 01/20/20 06:55 AM (4 years, 9 days ago)

Quote:

Ahab McBathsalts said:
Pay off student loans. Guaranteed risk-free return.




Exactly. I don't know what the current interest rate is on student loans, but odds are this is better than investing and continuing to pay on the loan. Even if he owes more than 20K, knocking off that sizable chunk will save him a lot of interest payments.


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"The Rolling Stones will break up over Brian Jones' dead body"    John Lennon

I don't want no commies in my car. No Christians either.

The worst thing about corruption is that it works so well,


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OfflineYaya
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Registered: 01/19/20
Posts: 2
Last seen: 3 years, 10 months
Re: Investment 4 Friend [Re: Brian Jones]
    #26450850 - 01/24/20 09:31 PM (4 years, 5 days ago)

Thanks guys. I'll share this with him


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OfflineLogicaL ChaosM
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Re: Investment 4 Friend [Re: Yaya]
    #26452914 - 01/26/20 03:54 AM (4 years, 3 days ago)

Id recommend investing a small portion of that money (after paying his student loan debt) in some inexpensive Cryptocoins :cool:


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