How to invest 10K?

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How to invest 10K?

Postby TheWanderer » Sat Nov 26, 2016 2:28 am

I don't make a lot of money but I can save a few thou a year. I've got 10K but it's just sitting there. I know inflation is always degrading the value of money but I don't know what to do with it. But I want to grow my wealth, preferably would have some passive income but I can't afford rental properties or stuff like that.

So what should I do with 10K? Stock market, silver or gold, really would appreciate some ideas. Just want something stable, obviously don't wanna risk 10K on something too iffy since my income is low.
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Re: How to invest 10K?

Postby The Signal » Sat Nov 26, 2016 11:59 am

The easiest thing to do for long-term yield is ultra-low-cost index funds (below 0.1% fee). For that my personal fave is Vanguard Total Index. Will you lose money on it some years? Let's hope so; that's how markets are supposed to work. But will you still make nice money on it over the long term? Unless everything collapses, yes.
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Re: How to invest 10K?

Postby Morgu » Sat Nov 26, 2016 1:28 pm

The best investments you can make are in yourself.

For example: if you need glasses, consider corrective surgery. Not only will this save money on glasses, but as the decline continues, medical care will increase in cost.

Other ideas would be: learn survival skills, purchase weapons, earn a professional certification or two in your field, etc.

If you mean more strictly money investments: pay off any debts, buy a little gold (it's good insurance), put some more money into any retirement accounts you have.

If you are in America, you could obtain an FFL (Federal Firearms License) and be paid to allow people to ship their weapons to you. Not quite the same as passive income, but you can earn money this way.

You might consider penny stocks. Could invest in a few of the big weapons manufacturers (Beretta, Glock, etc).

--Morgu
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Re: How to invest 10K?

Postby EddieS » Sat Nov 26, 2016 8:58 pm

What are your hobbies/interests/skills?
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Re: How to invest 10K?

Postby xtc » Sat Nov 26, 2016 10:30 pm

Dilbert's Financial Plan (from Dilbert and the Way of the Weasel):

    Make a will.
    Pay off your credit cards.
    Get term life insurance if you have a family to support.
    Fund your 401k to the maximum.
    Fund your IRA to the maximum.
    Buy a house if you want to live in a house and can afford it.
    Put six months worth of expenses in a money-market account.
    Take whatever money is left over and invest 70% in a stock index fund and 30% in a bond fund through any discount broker and never touch it until retirement.
    If any of this confuses you, or you have something special going on (retirement, college planning, tax issues), hire a fee-based financial planner, not one who charges a percentage of your portfolio.

The vast majority of people can't improve on that.

$10k is such a small amount of money it isn't worth worrying. Interest rates are around 2%, so we're talking a couple of hundred dollars interest per year.
For anything less than a million, some say ten million, the absolute amount of money you get from squeezing it harder is too small to justify the mental energy. Just stick it in a low cost index tracker and be done with it.

Penny stocks or other 'high risk' investments are just a gamble, unless you happen to have detailed first hand knowledge of the situation. If you want to gamble with your money, you'll have more fun doing it in Vegas.

Investing in yourself, if you can think of something useful, is an excellent use of $10k.
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Re: How to invest 10K?

Postby Phathack » Sat Nov 26, 2016 11:59 pm

If you really want to get into rental properties you should seek some advice and education from those that are in the business. Owning rental properties is a business and as such are quite different than buying a home to live in.
I would not write off the rental business all together until you have an understanding of the whole game.

:ugeek:
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Re: How to invest 10K?

Postby TheWanderer » Mon Nov 28, 2016 5:16 am

Sounds like there's not much point to anything I can do with my meager cash. I've tried CDs before (before the rates hit the floor) and even then it was pointless. Even a "good" rate won't keep up with inflation. I think we normal guys are pretty much fucked. I'll probably do better just being a saver instead of an investor. Stock market seems ok since you can just stick it in there and ride it for decades. I want to keep a cash cushion so maybe my next 10K can go into stocks or bonds or whatever.

I like the idea of investing in myself, seems like a good philosophy. The problem is figuring out what to spend time on, what to work on. I do a few things but nothing I can see will improve my financial prospects significantly.
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Re: How to invest 10K?

Postby Morgu » Mon Nov 28, 2016 3:03 pm

TheWanderer wrote:I like the idea of investing in myself, seems like a good philosophy. The problem is figuring out what to spend time on, what to work on. I do a few things but nothing I can see will improve my financial prospects significantly.

We all have finite time on this earth. Investing in yourself is something you can spend as much, or as little, as you wish. Money is our time on this earth, having taken a physical form. Nothing more.

A person is made of three parts (according to the Greeks): Body, Mind, Spirit. Investing in yourself should fall under one of
those three. For example: if you wish to improve your body, invest in yourself by learning a martial art. Not only will you
be in better shape, but you will be a better fighter than most. Self preservation is a vital part of humanity after all.

If you wish to improve your mind, read some philosophy. Plato, Aristotle have written works of a timeless nature. Read some of the classics, The Art of War is always worth the read. Meditation is a skill that works all of the three (body, mind, spirit), and is low cost to learn and practice.

If you wish to improve on your spirit, read some books on religious philosophy. Can be from either your own, or another
religion. Even better: read Buddhist philosophy, then visit a Buddhist shrine, discuss Buddhism with Buddhists, etc. You might even make new friends, which is always good.

Money is used to improve yourself. You don't improve your money. This is what is meant by "invest in yourself".

:)

--Morgu
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Re: How to invest 10K?

Postby No4Dad » Mon Nov 28, 2016 4:48 pm

Take all of it and invest in Beef Bullion. When the economy collapses beef bullion will be all that's accepted for trade.
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Re: How to invest 10K?

Postby TheWanderer » Tue Nov 29, 2016 8:59 am

Morgu wrote:We all have finite time on this earth. Investing in yourself is something you can spend as much, or as little, as you wish. Money is our time on this earth, having taken a physical form. Nothing more.

A person is made of three parts (according to the Greeks): Body, Mind, Spirit. Investing in yourself should fall under one of
those three. For example: if you wish to improve your body, invest in yourself by learning a martial art. Not only will you
be in better shape, but you will be a better fighter than most. Self preservation is a vital part of humanity after all.

If you wish to improve your mind, read some philosophy. Plato, Aristotle have written works of a timeless nature. Read some of the classics, The Art of War is always worth the read. Meditation is a skill that works all of the three (body, mind, spirit), and is low cost to learn and practice.

If you wish to improve on your spirit, read some books on religious philosophy. Can be from either your own, or another
religion. Even better: read Buddhist philosophy, then visit a Buddhist shrine, discuss Buddhism with Buddhists, etc. You might even make new friends, which is always good.

Money is used to improve yourself. You don't improve your money. This is what is meant by "invest in yourself".

:)

--Morgu


I already do some of this stuff. This year I've read some Plato (The Republic) and am currently reading some Nietzsche (Beyond Good and Evil and The Birth of Tragedy) along with some classic novels. Soon I'm going to be reading the Dao De Qing. I'll read it in English first and then try to read bits in Chinese since I dabble in the language. I'm always reading and learning, which are lifelong objects for me.

I study religions, but the more I learn about them the more I see that they are 90% bullshit, originating from the flawed mind of man. Religion is a very easy and natural thing to understand. Most of what has been written about religion is man's own stewed up mumbo jumbo. Not very valuable, though often creative in a twisted way. Given that there are still many people who interpret religious texts literally, most mainstream versions of religion are not valuable, except perhaps as social time if one cares.

Learning a martial art would certainly be useful. Not sure how I could start at the moment given my situation yet it would be a noble pursuit. First I'd need to look into the different forms and find out what their purposes are.

Money is the biggest limitation I have. It is funny that an average man such as I am is freer now than ever in history to "improve" himself, his knowledge, and his abilities...but is much more limited in making money. And what's more, his learning won't often increase his income. (Although to be fair it can if his newly gained skills are in line with the market's ever shifting wants.) Inflation has killed money's value, so we're not able to live a full lifestyle like our forefathers. Learning to be independent is noble and desirable, but it won't get me the freedoms I'm seeking.
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Re: How to invest 10K?

Postby WeeZul » Tue Nov 29, 2016 9:35 pm

Bumping this one with a thumbs-up. Study, even if it doesn't bring you profit now, is never a waste of one's time.

I consider a similar course frequently these days. I have enough saved to make a down payment on a small house...if I were someplace other than California. It's not doing anything for me though.

I have a Roth IRA, a (piddly, non-matched) 401K through work, and a student loan. I'm sure there's a thing or two I could do with my money...just not sure what.
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Re: How to invest 10K?

Postby TheWanderer » Tue Dec 13, 2016 10:02 am

WeeZul wrote:Bumping this one with a thumbs-up. Study, even if it doesn't bring you profit now, is never a waste of one's time.

I consider a similar course frequently these days. I have enough saved to make a down payment on a small house...if I were someplace other than California. It's not doing anything for me though.

I have a Roth IRA, a (piddly, non-matched) 401K through work, and a student loan. I'm sure there's a thing or two I could do with my money...just not sure what.


That's the thing, making money and figuring out what to do with it is a lot harder these days. Living under a feminist regime, it always strives to make everything as tough as possible. If you get a better job, daddygov takes more money. If you invest, daddygov takes its cut. If you put it in the bank inflation renders the gains worthless. If you start a business daddygov penalizes you. If you save inflation kills your money's value. Stock market is nuts and has been proven to be nothing but manipulation, anything but a free market out there.

That's the best answer I can see too. Invest in yourself. The payoff may never happen financially. Yet a wealth in the soul will always have some real world benefits. Whether that's being less reliant on other people, or learning how to do more for yourself. There's always good that comes out of it and it's always yours. Money can come and go. Wisdom is for a lifetime once attained.
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