How to invest my idle cash $20k

hey folks howdy…so i have saved $20k and its a shame its not invested by me yet. any advise? i mean im not a saint and im all ears. . .

How did you get that much money? :thinking:

Talk to an investment broker.
I wouldn’t trust anyone in any forum telling me to put my money here or there.

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Method 1: Options Trading: Do some fundamental analysis and buy options for Nio, GameStop, AMC, BB, etc.
Method 2: Find a broker who wouldnt charge you, and then deploy an algorithmic bot to buy and sell at 1% of price.
Method 3: (The smart idea) Buy domains, and flip them for profits.
Method 4: Buy NFT and wait till you sell them for profit.
Method 5: Start a dropshipping business.
Method 6: Buy enterprise accounts for SaaS and then sell them on 1Hack.

Enjoy

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start by spending only 20% of what you make. be frugal. very frugal. if it qualifies as a want and not a need, dont buy it. also i made a jar printed with denominations of money where i cross out each time i drop a bill for savings…like under $100 = 20 circles… $50= 50 circles $20=100… each time i drop money there, i always get excited to be able to drop more money in my savings jar. in a year i made 9k doing that…plus my earnings doing my dayjob. most impt part is your determination and your goal. im now towards investing…my goal will be to be able to buy a duplex in 5 years…rent the other one while i live in it that way renter will help pay if not pay all of my mortgage…then all my salary and money i make will go straight to my savings which i will of course invest. now investing is my current debacle…i need to educate myself about trading, crypto, whatever that will yield substantial amount afterwads. you can do it too. saving money is easy once you get used to it and just focus

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be careful with trading and crypto bro, my friend went bankrupt because he played trading and crypto. Good luck to you and thanks for the advice. I hope I can do it like you. :sunglasses::cowboy_hat_face:

great ideas! appreciate it. im taking notes

Trading is another form of gambling.

Invest in index fund

Investment is directly proportional to your ones risk appetite.

Why haven’t anybody suggested Gold or govt Gold bonds? If its a long term investment, guess globally nothing can beat it… Gold is GOLD forever & it will give guaranteed ROI as the time passes by!!

Comments, inputs are appreciated…

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agreed.
but Gold ETF is nothing but govt’s poor attempt at reducing the pressure on gold.

Gold is a precious metal, and if one has heard stories from their grandpa they know gold was used as a secure way of funds when migrating one place to another, or to bribe if all other means of cash become irrelevant.

Other than USD, all currencies are secondary.
Hence, yes, do buy gold, but as an asset, not as an investment.

Choose those sources of investment which will appreciate more than the rate of inflation.

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