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What would you do with K?
07-27-2017, 03:28 PM
I agree, the best money that I have ever spent was on experiences. Things like cars/electronics/clothes do not make me happy almost as soon as I bought them.
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What would you do with K?
07-27-2017, 04:46 PM
First and foremost I would put 100% of it towards whatever debt I have.
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What would you do with K?
07-27-2017, 09:04 PM
In the OP, you never really clarify exactly whether this $10k is basically your entire bank account savings, or whether you just had an additional $10k windfall that you're now willing to spend entirely.
If it is indeed simply the amount you have in your savings account, I need to stress this - $10k is NOT a lot of money. Assuming you don't live like a priest, it is not even close to a year of life expenses, probably less than 6 months. You mentioned you have kids. That makes this doubly so, since if things suddenly go south at your job or business, you have zero safety net not only for yourself but also for your children. I'd be terrified in that position
Trading crypto and starting another side business can both be great ways to make more money, but they have risk associated with them. Risk-free trades and risk-free businesses do not exist. That is a fact. If you have a family, it is extremely unwise to throw your entire savings account on a venture like that.
It's your call, but if you don't have more of a cushion than $10k, I would keep the money invested in safe ETFs and some in cash. If you do have a bigger cushion, then there's a lot of great advice already in the thread.
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What would you do with K?
07-28-2017, 11:02 AM
I would either hold it in reserve for a drop in stock valuations or invest into a business of your own.
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What would you do with K?
07-28-2017, 06:53 PM
OP here's a serious answer. I would use the 10k and buy shares of BP, Shell (RDS.B) and Oxy. BP and Shell yield 7% dividends and Oxy is 5%. These are some of the biggest and most stable oil companies in the world, and their stock price will go up with the price of oil. You can cash the fat dividend checks while waiting for the price of oil to go up. Their stocks are super cheap right now compared to their all time highs.
Or you can go riskier and put some money into AMZA (MLP ETF). Dividend is around 20%.
I have money in all of the stocks listed above and have been happy with the results so far. Oil is a necessary commodity and isn't going away anytime soon. Oil prices have been at historic lows for years and in my opinion will only go up from here. There's not much else you can do with that 10k that will get you rich since it's not a large sum of money.
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What would you do with K?
07-28-2017, 10:37 PM
Take it to the casino and bet it all on the banker.
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What would you do with K?
07-29-2017, 08:00 AM
Spend on paid traffic and try to achieve 50-100% ROI over a week or two. Either from ecom or affiliate offers.
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What would you do with K?
07-29-2017, 05:30 PM
Best use would be something similar to what LINUX mentioned.
But if you want to use it to make more money, the paid traffic way is good, considering you have experience in that area and have a product. Or just throw it all in crypto, or just put it all on black. Basically the same thing. All three methods give you the opportunity to double it. Before you do anything of these three think of it as already gone so whatever happens you are prepared for.
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What would you do with K?
07-29-2017, 06:19 PM
Bet it all on Floyd Mayweather vs Conor McGregor. Bet 10k on Floyd in order win $1,666.67 at -600. That's about a 16.7 percent return in a few minutes.
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What would you do with K?
07-29-2017, 10:07 PM
^^ Actually, I think this is the best move, if you aren't going to go on an epic road trip with a Colombiana. I'm doing this myself. Should be easy money.
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What would you do with K?
07-30-2017, 05:11 AM
I would invest in 4 bitcoints. With CN and other countries investing they could possible double and triple this amount in just 1 year.
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What would you do with K?
07-30-2017, 08:35 AM
Buy four bitcoin right now and you will get four bitcoin cash if all done before August 1 and on the right exchange. It's free money, but risk is involved. However I think the odds are good and it could net you a tidy sum in the near to medium future.