Hey brehs, so I need a bit of assistance. I am receiving a $6000 bonus and I want to invest in to get back as much money as i can. I was thinking of putting it in a Roth IRA, or a CD, but I wanted to hear what you guys think is the best solution.
How to make the most out of my $6000?
- Thread starter SupaVillain
- Start date
IRA would be my move, and then divvy up the 6K into some SP500 and NASDAQ low cost EFT's.
But it really depends on your situation in life.
Do you have debt?
Are you in a field where you can parlay a few G's into a certification and then make 20K more next year?
What's your health looking like?
But it really depends on your situation in life.
Do you have debt?
Are you in a field where you can parlay a few G's into a certification and then make 20K more next year?
What's your health looking like?
I am currently studying for my CPA. I am healthy and the only debt I have is student loans.
So without getting too much into it
The real question is should you pay off some of your loans with the 6k, or something else.
Option A - Emergency Fund
And if you're just starting out in life, that 6K would be best served as an emergency fund.
Now if you're savings are already on blast (3-12 months of living expenses),
Option B - Safe Investment over 30+ years, vs paying down debt over 10-15 years
It's a question of whether or not paying your debt down beats out investing in the S&P500 in your IRA.
Is loan cost over 15 years >> than S&P 500 gains from now to retirement.
That's not just a math question. It's a question of priorities.
I have an online savings account that is approx 20k. I do need to fix my car, so I’ll probably put most of my cash on that. What is the max price that I should put in for fixing my car? It’s an oldie, 2011 Chevy Malibu
It's really about your next best alternative.
6K probably won't buy a better car than what you have. If you can trade it the Chevy for a Toyota or Honda...just maybe...but I'd prefer to have the cash than sink it into a depreciating asset.
UncleTomFord15
Veteran
6k in a cd will literally only give you 300 dollars back roughly for a year long cd. Maybe put it in I bonds if you want to be safe for a pretty much guaranteed 7% a year.
Or you can flip a piece of land. Find a piece of land no one wants buy it for 2k. Flip it for 5k. And continue to do bigger numbers as you grow. More risky than bonds obviously but higher rewards.
Or you can flip a piece of land. Find a piece of land no one wants buy it for 2k. Flip it for 5k. And continue to do bigger numbers as you grow. More risky than bonds obviously but higher rewards.
Wargames
One Of The Last Real Ones To Do It
You cold put that in a Roth IRA
Bryan Danielson
Jmare007 x Bryan Danielson x JLova = King Ghidorah
Maaaaaaaannnn
If y’all could’ve invested in AMD stocked today y’all could’ve made MONEY
It opened I believe at $13 per shares and right it’s like $87 and was as high as $90
That’s fukking insane
If y’all could’ve invested in AMD stocked today y’all could’ve made MONEY
It opened I believe at $13 per shares and right it’s like $87 and was as high as $90
That’s fukking insane
AMD hasn't been $13 since 2018.
Controversy
Superstar
Invest in $MSFT and then kick your feet up for the next 10 yrs...don't overthink it lol
Bryan Danielson
Jmare007 x Bryan Danielson x JLova = King Ghidorah
Could’ve sworn it was stated that? Either way… last week was a good week for them after the MCST announcement
Invest in yourself