I managed to save close to 100K over the last 4-5 years. No idea what to do with it though. I work in tech, been focusing mainly on increasing my salary and now I believe it's time to start doing something with the fruits of my labor. Where do I start? How can I invest/spend it? I don't own a house, just a car. Any help, advice or links much appreciated.
@paul_ernst real estate is probably the best investment you can make. It also lets you get away from spending on rent each month.
Other options include:
Invest in businesses and ideas you find appealing or promising.
Donate to charities.
Take a vacation somewhere.
Buy huge amounts of chadcoin.
Cut hours and spend the time on yourself and your goals.
@paul_ernst in terms of maintaining your wealth. Make sure your savings is not sitting in a low interest account. Many banks online are offering 5% interest just to house your money.
Real estate is always a good investment. Whether that's a house or rental property.
Stocks are volatile but you can invest in index funds which hold groups of stocks.
Max out your ROTH if you haven't been doing that.
@paul_ernst I fundraise for a Boys and Girls club. You can donate to a local club or become a monthly donor and support the kids
@Lionsmane8 making more money is not really the problem at this point really. Life in tech is also really often mundane and boring. I'd rather start cutting my hours.
Redacted giving shit financial advice:
So I was listening to Redacted the other day, and was baffled by the poor "advice" given on the stock market.
Check this out from 8:05:
It's a message from a sponsor. But the anchor throws in some personal "advice" as well, like: "With all the chaos around the world now, I am personally investing in hard assets like minerals, gold, silver etc".
Now, I'm not an expert or anything, but even I know you buy low, and sell high. And right now, due to said "chaos around the world", hard assets are freaking expensive. It's a bubble that's going to burst the minute the conflict in Ukraine gets resolved (probably after the summer, next spring at the very most).
Investing in that market now, with the prices already so inflated, and a tanking of those prices right around the corner, sounds like a sure way to lose your money. A much better strategy is to invest in markets that are doing poorly now, but will improve once the conflict is over, and goods and services start flowing again across the East-West divide. I've already got a 24% return on my index funds simply by following that strategy - and that's even before the conflict is over.
I don't trust these guys on anything. This is grifterhood 101. I get forwarding a message from a sponsor for pay. But forwarding a message or a product you can get behind is one thing. Grifting poor advice and shit products is a totally different matter.
Fucking grifters everywhere. Don't trust anything or anyone - especially don't trust people who seem to be "on your side".
Read More@Durek_The_Bald Gold is high indeed right now... but if the new BRICS currency launches sooner than later, then gold 3000+ is a very real possibility.
It being around 2000 though, lots of downside possibility.
Gold bugs seem to include a lot more wackos and conspiracy theorist types than the general population, is one fact I've discerned. Therefore, careful who you listen to if making buy/sell decisions.
What would really be smart is to dig out the old sluice box and pan, and try to find a few ounces oneself. My experience there is, lot of work for not very guaranteed results.
Dubai?
Man I don't even see other people commenting on this post say otherwise than the US.
You can also try Southeast Asia, or Japan.