investing money or ways to make money?

[deathb4disco]

If you like to read, I highly recommend this book:

Amazon.com

[Takeum]

Whatever happened to the old,theory of investing in the 3 things that will never lose it’s luster,,, liquor, cigarettes or woman’s beauty products?

[deathb4disco]

Whatever happened to the old,theory of investing in the 3 things that will never lose it’s luster,,, liquor, cigarettes or woman’s beauty products?

The S&P 500 has got them covered.

[papasage]

if i was a young man i would invest in rental property . i bought a house 12000.00 lived in it 30 years . put vinyl siding on it was 12,000.00 bought another house to live in and rented it and paid for my newer house with the rent then sold it for 25000.00now i have a house worth 60.000.00.

[DockShootinJack]

Property is always a good move

[Redge]

Property is always a good move

X3!


Sent from my iPhone using Crappie.com Fishing mobile app

[Ketchn]

real estate for sure , they aint making more dirt ....we are about to pull all our stock market dollars and buy more property , we have easily doubled if not tripled a 150,000 dollar investment in 3 years on the last property and the first one tripled in 9 years .
one thing for certain there are some windfalls in the stock market , but they can go away as quick as they come .
dirt aint going away ....just saying .

[Atimm693]

$1000 won't get you anywhere in property. Honestly real estate seems like it's in a huge bubble right now and I don't want any part of it. This much growth just doesn't seem sustainable, at this rate in another 5 years nobody will be able to afford anything.

As far as stocks go, you are best to go with a low fee mutual fund or ETF. Even the best swing/day traders struggle to beat these. There are several mobile apps that make it easy as can be, Fidelity, TDAmeritrade, Robinhood, etc.

I wouldn't be so quick to pay off low interest debt with it, the stock market averages around 10% APR, any loans with an APR less than that are better left alone, you will make more by investing it. This is why a lot of really well off people still borrow money, their liquid cash is invested, earning more of a return than the loan. Things like credit cards, payday loans, personal loans, etc with a high interest rate, absolutely pay it off first.

Crypto is not a bad choice either, as long as you stick with established coins like Bitcoin or Ethereum. Buy and forget it for 10 years, the volatility will make you crazy.

As far as side gigs go, that will depend on your skill sets. Could be anything from photography, website design, computer repair, welding/fabrication, mechanics, handyman stuff, tax prep, HVAC, etc. I am a mechanic by trade, and will do side jobs from time to time for $50 an hour. When the going rate for a shop is $100+, that makes me a bargain and I am usually turning away work.

You can start mowing lawns with a couple thousand bucks, that business is generally pretty lucrative if you have time management skills and are able to work on your own equipment. A small trailer and a second hand mower don't cost that much.

Side gigs have sort of become the norm, just about everyone I know has one of some kind. That's just life as a millennial in this crummy economy.

[DockShootinJack]

Very well said

[Tracker123]

Looking for some ideas for making some extra money. What kinds of ways have some of you made extra money besides cutting grass. What's a good way to invest small amounts of money like 1 thousand at a time? Have you done small stocks, if so which stocks are good? Is there a good financial planning company you have had success with? Have you made money online?

Number 1 - eliminate all debts. This includes mortgage/rent, vehicles, boat, etc. Pay zero interest on anything. This may be an issue due to not having credit history for those have none - like me. Buy something on occasion and pay off promptly.

Number 2 - capitalize on the matching 401K program at your employer if still employed. Diversify the 401K programs you have. I gain an average of 25%/year on investments.

Number 3 - land. Multiple acres, high ground, on water.

Number 4 - what you are good at - consulting, contract labor, etc.