I have $40,000 in my checking account. What's the safest/smartest way to increase it in a year?
Hello, I have little to no knowledge of personal finance. All I know is it's better to invest it than just leave it there.
The question is where?
A quick google searches says ETFs like VOO or VTI are my best bet.
Just looking for ideas/advice. Thanks.
Edit: Guess we have a bunch of pelosi minge munchers in here
Yep that was my original post, but for some reason they got triggered
Give me your 40k and at the end of the year I'll give you back $80k. Sound like a good deal?
How did you get $40k in your account?
Energy ETFs with low fees to combat inflation and ride the momentum
SPY or VTI are the best long term if you are looking for something safe to dump money in and forget about it for 40 years
WSO will tell you to do crypto, day trading, meme stocks etc but unless you are super into that stuff and can handle losing a large amount of your money, don't do it
Someone about to say TQQQ in 3 … 2 … 1 …
Happy New Year TQQQ
Ah yes, ape everything into 60% TQQQ and 40% UPRO. This is the best strategy to make you shit yourself. *thumbs up*
TQQQ that motherfucka bro.
Absolutely do not buy TQQQ despite what people will say. A 33% drawdown EVER in the nasdaq = you lose all of your money permanently
Not entirely true. It’s 3x levered on a daily basis so you’d need a 33% drawdown in a single day.
been a while since I wrote about what you should do with your money. since I'm licensed by finra, you won't find any security recommendations herein
so in sum, I wouldn't focus on growing it within 12mo, I'd focus on your overall financial strategy and that will lead you to decide if those funds should be short, medium, or long term, and then you just invest and move on with your life
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