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rivermobster

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And putting it all on black...

What would you do with 30k cash, to make some good money with it?
 

PaPaG

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And putting it all on black...

What would you do with 30k cash, to make some good money with it?
Day trade....depending on what you invest in and how good you have your trends pegged in at you can make 1.5-3% a day easily...
 

Xring01

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Day trade....depending on what you invest in and how good you have your trends pegged in at you can make 1.5-3% a day easily...

Day Trading takes alot of time, but he is correct.

Assuming you have fully funded your 401K, your kids education and have emergency funds in place and the $30k is over those $$$.

Assuming you have a full time job and dont have the time to Day Trade. I would recommend investing or Swing Trading those funds.

If thats not your cup of tea, then maybe flip Trucks or Boats with it. There is alot of $$$ to be made right now.
 

Hypnautic

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Answers are usually the same and pretty boring.

Real estate would be my top answer. Not enough for down payment in perhaps your neighbor but look to NV, AZ or TN. Pick up little SFR or Condo.

Stocks/bonds/EFT. Diversify as much as possible. Look for depressed areas that will bounce back. Example I bought USO (United States Oil fund) from $27-38 between April and Sept 2020. Puts me up 50.29% as of today.

Max out retirement. 401k, 457 (if applicable) IRA’s etc.
 

j21black

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And putting it all on black...

What would you do with 30k cash, to make some good money with it?

Bought my daughter a truck for 8k a couple years ago. Just sold it for 16.5. She wants one that costs about 30k. I told she could pick the color and I'd throw the money down on the table and see where the ball bounces. She said no.
 

Rajobigguy

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What are you looking for in returns? Long term or short term? If your are just looking for a short term flip like turning 30000 into 35000 then throw it into GM or Ford, both of which are trading at a lower rate right now due to chip shortage and will likely have a breakout later this year as the shortage eases.
If your looking for something more dramatic like turning 30k into 60k then bet on black.
 

rivermobster

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What are you looking for in returns? Long term or short term? If your are just looking for a short term flip like turning 30000 into 35000 then throw it into GM or Ford, both of which are trading at a lower rate right now due to chip shortage and will likely have a breakout later this year as the shortage eases.
If your looking for something more dramatic like turning 30k into 60k then bet on black.

Good question. Short term.

My daughter has the 30k in her bank account, and she has been thinking about investing in an air b&b.

We just got off the phone a friend who has a ton of rental properties. He gave us some solid advice.

Still looking at all options though. Thanks!
 

samsah33

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I assume you have paid down your high interest debt. Mortgage/student loan debt aren't bad assuming you have good rates plus there's some potential tax impacts there.
 

COCA COLA COWBOY

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The stock market is pretty darn fun, but fund the account with $30,000, but only play with $1,000 until you feel confident. I can give you some stocks to start following. I recommend an Ameritrade Account/Think or Swim. I'm no veteran and I learn more and more everyday, but it is pretty fun and exciting.

You can dabble a little in Crypto....Open a Coinbase account and start dabbling. Bitcoin has become pretty consistent with ups and downs. I would buy around $30k and stay in until somewhere around $40k, then sell or short back on the way down.
 

monkeyswrench

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If it's your daughter's investment, I think it should probably be based on her long term goals and possibly future career path.

When I was about her age, my long term goal was some sort of home. If that's her scenario, I'd try to figure out how to move that money towards real-estate. The problem currently is the market is too hot I'd think for a young buyer to get into a property as a rental. The short term gains probably wouldn't be squat, but in the long term she could generate a hell of a bargaining chip for her own future home or investments.
 

traquer

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Put $5k into crypto, and another $500 every month. Use the rest for something else that was mentioned here, but I wouldn't skip a few grand in crypto. I put $500 in it years ago, forgot about it and worth $30k now. If I didn't start trading a few years ago it would been worth $150k at the peak. Party ain't over yet.
 

boatnam2

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Buy 2 properties in Memphis Tenn, have them rented out and managed. Save rents and buy another one every year while interest rates are good. Lots of competition but buddy has picked up 4-5 last 2 years so you can get them. If i was 25 that whats i would do, or buy a boat lol
 

H20 Toie

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Only smart thing to do is put it in the bank, save it until november and then come party with us in key west, it will be worth every penny, :)
 

brgrcru

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If you had 38 k

you Could buy one bitcoin. Ha ha
and see what happens

But you need 8 k more lol
 
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Real-estate or just leave it in the bank and when everything crashes then invest in the stock market.
 

Backlash

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Sell the dope in L.A. county. That way you dont have to worry about getting arrested and doing time in jail. D.A. isnt filing possession cases, so, keep the "Sales" part hush hush. 😁
 

WYRD

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Just be careful if she picks hookers-n-blow, loose your mind and you might end up blowin hookers.
 

HB2Havasu

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With Super Inflation on the Horizon I would put the money into inflation safe investments such as heavy metals, real estate, and OSB, lol 😂
 

Bigbore500r

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Good question. Short term.

My daughter has the 30k in her bank account, and she has been thinking about investing in an air b&b.

We just got off the phone a friend who has a ton of rental properties. He gave us some solid advice.

Still looking at all options though. Thanks!

Take the 30k, buy a property somewhere you can short-term rent that will cashflow, and BE the airbnb. Forced savings account, let the equity build up as she operates it
 

GRADS

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🤣

 

BHC Vic

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I’d buy etherium and watch it run up in aug.
 

PaPaG

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I wish I had the balls to day trade. I just don't
It is nothing to be afraid of, do very small orders, try one of the free online brokers and trade on a fictitious portfolio for a while, get the hang of it and only trade small and what you can afford to lose then do slight increases after you do your research and find your trends solid. You can trade by the 100's or even smaller amounts til you get your footing..it is not for everyone that is for sure.
 

Dana757

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I would talk to a financial advisor. My investments have been cracking this year!!
 

rivermobster

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Short term guys. Short term...

We both have plenty of long term investments. Including her going to USC. 😉
 
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rivermobster

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Take the 30k, buy a property somewhere you can short-term rent that will cashflow, and BE the airbnb. Forced savings account, let the equity build up as she operates it

This is Exactly what she wants to do!
 
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