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Smartattack
C'mon man
Registered: 12/21/18
Posts: 3,778
Loc: A thought
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WWYD?
#27204197 - 02/13/21 05:45 PM (3 years, 1 month ago) |
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What would you all do with a surprise acquisition of $20k if your only objective was to start making it do something for you? I'm happy to hear mild to wild, safe to risky. Im self employed ATM and have no interest in putting the money there as I would like to switch directions but am not sure what or why. Just seeking ideas.
-------------------- * Smarts videos * Planet of the APES I'm a fungal white supremacist.
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙
Registered: 05/08/01
Posts: 23,563
Loc: city of angels
Last seen: 1 day, 4 hours
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- If you are decent with numbers, with the time and inclination (i.e. the determination and discipline) to learn how to actively trade, leveraging an equity account at an online stock broker can be a lucrative way of growing your assets.
- If you don't want to take the time to actively trade, and are comfortable taking on higher than average risk, allocating the $20K between bitcoin and ether cryptocurrencies would be a fine idea as well.
- If you don't want to take the time to actively trade, and are not comfortable taking on higher than average risk, put it into the S&P500 index ETF: SPY
If you are in the US, want this money to grow long term as part of your retirement strategy, and have no reason to use it on discretionary purchasing, contribute the maximum annual amounts into a Roth IRA account. This is a tax advantaged account classification, which will otherwise function the same as a regular brokerage account, which is applicable to the above investment options (although with crypto you would be buying the equity trust equivalent instead of holding the actual asset -- you can setup a Roth IRA to custody your own crypto, but it's a little more involved).
-------------------- -------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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Enkidu
"No-Such-Person"
Registered: 07/09/16
Posts: 10,698
Last seen: 8 months, 8 days
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Id buy a house
If i had a house i might put a lot toward paying it off
Maybe see about buying a property to flip or rent, prolly flip though the way things are right now.
If none of that sounds appealing id prolly invest some and save some.
Unless you have savings already.
If i just had extra money nothing to do with it had savings and a house, id invest.
Crypto and stocks for me
And id learn how to manage them
-------------------- Within You , Without You
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Ahab McBathsalts
OTD Windmill Administrator
Registered: 11/25/02
Posts: 35,161
Loc: Wind Turbine, AB
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Pay off any debt, invest in yourself or future earning potential. Invest for the future. Earmark it for school or training or throw it in a 6 month CD if you are getting squirlley about having that amount available to you. If you don't know right now, take a couple of months to decide. Don't throw it at something over a weekend if that is a larger amount for your normal household earnings.
-------------------- "Nobody exists on purpose. Nobody belongs anywhere. Everybody's going to die."
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Smartattack
C'mon man
Registered: 12/21/18
Posts: 3,778
Loc: A thought
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I thoroughly understand that it isn't a huge amount to work with, however it is more than I am accustomed to having at once. I'm not great with money by any means but I'm also not one for money burning a hole in my pocket. Worrying about wasting it away isn't an issue, I can wait on a good idea.
-------------------- * Smarts videos * Planet of the APES I'm a fungal white supremacist.
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ManianFH
living in perverty
Registered: 07/06/04
Posts: 14,955
Last seen: 5 hours, 2 minutes
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ROTH IRA for sure, start investing. This is assuming you have no debt.
Also, depending on where you live and your ability to afford a mortgage, you could consider using it to beef up your downpayment on a property.
-------------------- notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... " ChrisWho said: "It's all about the journey, not the destination."
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Smartattack
C'mon man
Registered: 12/21/18
Posts: 3,778
Loc: A thought
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I have no debt and own a home that is quite nice and is being owner financed at 0%. My housing situation is more than peachy and my property is already waaay over value. The money isn't enough to buy anything substantial for property and certainly not enough to do anything for improvement to make it flip worthy. I live in Maine and Its an area where the whole country is fleeing from the pandemic, real estate is literally a bidding war ATM. I just want the money to work for me a bit.
-------------------- * Smarts videos * Planet of the APES I'm a fungal white supremacist.
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Ahab McBathsalts
OTD Windmill Administrator
Registered: 11/25/02
Posts: 35,161
Loc: Wind Turbine, AB
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Buy a couple books on investing.
-------------------- "Nobody exists on purpose. Nobody belongs anywhere. Everybody's going to die."
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budmanman
OTD Masterbater
Registered: 02/07/07
Posts: 18,116
Loc: PNW
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Yeet it all into bitcoin, watch btc crash to 15k and think you are a fucking idiot and wait 3-5 years and sell when btc hits 500k and think you are a genius.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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Smartattack
C'mon man
Registered: 12/21/18
Posts: 3,778
Loc: A thought
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🤔
-------------------- * Smarts videos * Planet of the APES I'm a fungal white supremacist.
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Enkidu
"No-Such-Person"
Registered: 07/09/16
Posts: 10,698
Last seen: 8 months, 8 days
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I would invest some in crypto.
Specifically btc and eth.
I personally would also be investing in semiconductors, rare earth minerals, maybe some raw materials /gold and silver, and some of the up and coming tech such as electric cars and 3d printing. Some other interesting sectors i know less about.
Maybe some sustainable/renewable energy.
But thats just me. Id highly encourage becoming as educated and relevant investor as possible and manage your own assets.
But i am not trusting.
Some tech heavy etf's might do well.
Things can change fast though. I feel as if being educated and paying attention will allow best results for protecting assets and maximizing gains
I also personally believe in investing in areas you wish to perform well in the future, for example im not a big fan of apple etc even though they perform well. Certain companies i wont invest in just for profit. But to each their own.
-------------------- Within You , Without You
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trees
Registered: 02/08/09
Posts: 9,273
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Just know that you will see your money go down at some point where most newbs fear sell for a loss and then try to FOMO back in when they see it going back up and then when it goes down again they fear sell again and then suddenly half their 20k is gone
-------------------- Trees is dead, this is his mum posting
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Ahab McBathsalts
OTD Windmill Administrator
Registered: 11/25/02
Posts: 35,161
Loc: Wind Turbine, AB
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Re: WWYD? [Re: trees]
#27206701 - 02/15/21 02:53 AM (3 years, 1 month ago) |
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Investing has been stupid easy in almost all markets since October. Even since June volatility has been lower and it's been a straight shot up.
It won't always be this easy.
-------------------- "Nobody exists on purpose. Nobody belongs anywhere. Everybody's going to die."
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budmanman
OTD Masterbater
Registered: 02/07/07
Posts: 18,116
Loc: PNW
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You have to winklevoss it and just yeet it all into btc.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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Tripsurfer
Bring Back Asante!
Registered: 08/01/12
Posts: 7,129
Loc: West of Windward
Last seen: 14 days, 6 hours
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Cocaine and hookers
-------------------- Ach en wee ben ik de klos, met mijn boog schoot ik een albatros... A philosopher is a person who knows less and less about more and more, until he knows nothing about everything.
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Smartattack
C'mon man
Registered: 12/21/18
Posts: 3,778
Loc: A thought
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Not a fan of either one
-------------------- * Smarts videos * Planet of the APES I'm a fungal white supremacist.
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Tripsurfer
Bring Back Asante!
Registered: 08/01/12
Posts: 7,129
Loc: West of Windward
Last seen: 14 days, 6 hours
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Select 20 crypto's, invest $1000 in each of them
-------------------- Ach en wee ben ik de klos, met mijn boog schoot ik een albatros... A philosopher is a person who knows less and less about more and more, until he knows nothing about everything.
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LogicaL Chaos
Ascension Energy & Alien UFOs
Registered: 05/12/07
Posts: 69,835
Loc: The Inexpressible...
Last seen: 36 seconds
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Definitely invest in some Cryptocurrencies. There's lots to choose from, just pick a few and do some research on the technology of them.
Also consider investing in stocks for any new, upcoming hi-tech/new tech companies that look promising.
You can also buy some gold/silver/titanium/platinum and hold onto it.
-------------------- "What you must understand is that your physical dimension affects everyone in the higher dimensions as well. All things are interconnected. All things are One. Therefore, if one dimension is broken or out of balance, then all other dimensions will experience repercussions." - Pleiadian Prophecy 2020 The New Golden Age by James Carwin PROJECT BLUE BOOK ANALYSIS! (312 pages!) | Psychedelics & UFOs | Ready to Contact UFOs? | The Source on Mushrooms| Trippy Gematrix | Dj TeknoLogical | Fentanyl Test Kits R.I.P. Big Worm || The Start of the Ascension Process was 2020. Welcome to the Next Great Era of Earth 🌎🌍🌏 Oregon Eclipse Festival 2017 :: Aug 19th - 21st :: Pure Paradise Very Effective LSA Extraction Tek | 💧 Advanced Cold Water LSA Extraction Method 💧 | Mescajuana - Mescaline with Marijuana | DMT Dab Bongs | UFO Technology! Shpongle
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Dblackishaw
DoleMite Mofos!
Registered: 08/23/13
Posts: 53
Last seen: 2 years, 11 months
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Buy silver
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por
Registered: 02/18/21
Posts: 80
Loc: USA
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BTC BTC MOVE IT MOVE IT MOVE IT
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