What would you do with the money right now? I'm asking in complete seriousness, and could really use the advice. Where would you invest? And mutual funds worth looking at? How much into gold & silver?
If You Had $20k and No Savings...
What would you do with the money right now? I'm asking in complete seriousness, and could really use the advice. Where would you invest? And mutual funds worth looking at? How much into gold & silver?
If I had $20K, I would say I had savings.....
"The journalist is one who separates the wheat from the chaff, and then prints the chaff." - Adlai Stevenson
“I tell you that virtue does not come from money: but from virtue comes money and all other good things to man, both to the individual and to the state.” - Socrates
Do you own a home yet? If not get a duplex/triplex/quad and take advantage of the government's FHA program, and make money by renting out the other unit(s)
<= 3.5% interest rates
3.5% money down
270k max loan for single family, up to I think ~500k max loan for a quadplex property.
These loans are guaranteed by our wonderfully generous government, so if you have anything better than terrible credit you instantly qualify.
The Matrix is a system, Neo. That system is our enemy. But when you're inside, you look around, what do you see? Businessmen, teachers, lawyers, carpenters. The very minds of the people we are trying to save. But until we do, these people are still a part of that system and that makes them our enemy. You have to understand, most of these people are not ready to be unplugged. And many of them are so inured, so hopelessly dependent on the system, that they will fight to protect it.
Haha, well my savings WERE Apple stock, but I had to bail on it because I think it's a sinking ship. I'm a small business owner making $800 a month, so it will be a long journey before I have more money to invest. I just need a safe place for that money. Inflation makes savings accounts pointless.Originally Posted by Original_Intent
Put the 20k to work.
Humanity is repugnant to freedom.
Curious , how are you living on 800 a month ? I am getting read to throw $1500 in the mail for bills
That will get me by , to Thanksgiving .
Consumerism is a bitch. It creeps up on you pretty quickly. I learned a lot about it the first time I moved from my house to an apartment...couldn't believe how much crap I've purchased and only use irregularly.
Humanity is repugnant to freedom.
This.
Figure out a way to make that $20k turn your $800/mo small business into a $5k/mo small business.
Even if it only ends up being $2500, you can still spend 20 months saving up the $20k again, and still have almost twice the income.
There are no crimes against people.
There are only crimes against the state.
And the state will never, ever choose to hold accountable its agents, because a thing can not commit a crime against itself.
Is this money you may be needing in the next couple years? If so (and you indicate you want safety), you want to take less risk than if you won't need it for a long time. You will at least want to keep enough in a safe, liquid form to be able to cover all your expenses for a year (they used to say about six months but given the current employment situation I would want a year) should you for some reason lose your income source. I would not put that money into stocks or metals. But having said that, where I have a block of my "emergency fund" is in a stock- a dividend paying utility stock. Look into DRIPs or Dividend ReInvestment Plans- the cheapest way to invest in stocks (lower costs means higher returns). I get a guaranteed return with the dividend and utility stocks tend to be pretty stable so are less risky than other stocks. I keep another chunk (at least three months expenses) in a basic bank account. Low interest but safe keeping for the money. Having a reserve was critical the last time I found myself out of work- and it took 11 months to find a new job.
Freedom is a state of mind. Nobody can take that from you unless you let them.
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