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Comments (44)
You aren't going to build wealth by paying off debt and maxing out retirement accounts with $30k.
Bootstrap a business.
Preferably, SaaS in a large addressable market with clear product-market fit.
If only I could source that. Maybe I'll buy every Social Capital SPAC instead.
Lol yeah, just start a SaaS business, ezpz.
You have the right idea, IPOE, merging with SoFi, say less
Depends if you can live without it and financially secure. Personally, I would go all in on crypto - pick a penny stock and hope for the best. Could end up zero, or 10-100x initial investment... put a price alert at 10x and just forget about it. When it's ready to make you rich, itll reach out
I agree with the crypto investment, I actually did this same thing back in the spring with my entire net worth and am up close to 100k. But putting it in a penny stock or random token is retarded. Go 90% bitcoin, 10% ethereum and let it ride.
imagine thinking that putting your entire net worth into the 'safe' crypto is a less retarded 'investment' than putting your entire net worth into the 'random' crypto
Lol what bank do you work for?
Hope it's public so I can short it
Stellar Lumens XLM is a penny stock ... was 5 cents a few months back, and just won a major contract with government of Ukraine, and sits around 30 cents. Lots of potential, similarly other penny cryptos ... TRX ADA etc. Your logic makes no sense. Highest return comes from the underdog early stage projects, and like I said if you can live without and want a disproportionately high reward to risk ratio (and can live with it going to zero but uncapped upside) ... that's my bet. I've bought $20k penny stocks and looking to buy another $30-50k hopefully in the next few weeks before the major institutional players come on board. Plus, working in PE means this is the only "stock market" like investment you can probably only make, which makes it quite exciting as a side hobby. Recommend checking with your compliance team before doing so. Your call, this is not financial advice ...
Throw it all in FNILX and check back in 20 years from now
statistically the best advice
Quant (ˈkwänt) n: An expert, someone who knows more and more about less and less until they know everything about nothing.
Statistically the worst response ...
Stupid crypto and penny stock gambling aside, if one is actually looking for a reliable investment I would use my first time home buyer credit and get a multifamily house with like 3% down using the $30k, live in one unit and rent the rest out to cover my mortgage and even make some extra profit. You could buy a ~$1m property with a $30,000 down with first time home buyer credit (for simplicity ignoring the extra fees although those are material and worth considering) and in low cost markets you can definitely get a 3-4 family property for that. Note 4 unit is the max size so if you buy like a strip of townhomes for $2mil you'll need the 20% to put down on that bad boy.
That is just too difficult to find where I live. I am actively looking at properties though.
Oh I was just saying in general not for any particular person (especially since 75% of this forum is in a T1 city where real estate is way expensive for this level of investment)
I'd buy as many GME shares as possible and hold like my life depends on it. Join the crew m8ty, we're robbing some soyboi shortsellers for dinner. The booty has just begun. Anyone telling you to put it into some lame ETF has no balls or is a boomer.
Array
Whats your thesis/horizon for GME?
Problem for me is my compliance group prevents us from buying pretty much any name and even ETFs. Also, my equity sentiment model indicates the market is way overbought right now. Reluctant to load up on stonks at this level.
Hey man, I don't have compliance issues to worry about so this was just my answer to what I'd do with $30k. I'm in it for the long haul because I've met Ryan Cohen once and have been in awe of what he did with Chewy starting from nothing with a business model everyone assumed would fail. Given he, and both the CFO & CMO from Chewy are now heading up the board I think there's a huge turnaround to look forward to. I'm already in for about as much as you mentioned and it's been a very good week, but I won't be looking to start profit taking until after Q4 earnings at the earliest.
Array
My thesis is that GameStop is gonna get a banking license
That sucks regarding regs - but equity sentiment doesn't really apply here. Fear $100B companies when using sentiment, not specific smaller cases (distressed/ emerging). Just my 0.02
GME Gang CHEKING IN, same horizon, get ready for best multiples this company has ever seen --> e-commerce revolution
My body is ready, if this keeps up I might get myself a Porche 911 as an early Christmas gift.
Array
Pay Down Debt and Build an Emergency Fund
Invest for Retirement
Put Money into a Health Savings Account
Invest in the Stock Market
Start A College Fund for Your Children
Put it all on black
So long as it's not on your lamb ass
Everything seems so overvalued. Stocks, crypto, real estate.
I'd go real estate. There is going to be massive inflation coming and you can borrow with low interest rates.
Buy CCIV and thank me later
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