What to do with $48,000.

[Yellow Yam Scam]

If you got $48,000 tomorrow, what would be the most efficient legal way to turn that into more money outside of the stock market? Let's say that we're okay with a fair amount of risk here.

 

[Hyperion]

I would sell yo-yos on the San Francisco boardwalk.

Because thats how Tommy Wiseau made his fortune.

 

[Morbid Boredom]

A Certificate of Deposit is the safest way to make money off of such a windfall. The interest it earns depends on a few factors, but time is the most important -the longer that money is in the bank's hands, the more you'll get back.

 

[Yellow Yam Scam]

A Certificate of Deposit is the safest way to make money off of such a windfall. The interest it earns depends on a few factors, but time is the most important -the longer that money is in the bank's hands, the more you'll get back.

This is essentially risk free though, right?

This is kind of play money in a sense, I'm fine for higher risk for potentially higher yields.

 

[The Fool]

oh you want to spend it?

 

[Vitriol]

This is essentially risk free though, right?

This is kind of play money in a sense, I'm fine for higher risk for potentially higher yields.

If you don't own property then that would be one option, the rent should pay the mortgage with a bit left over fir pocket money and so long as you are careful where you buy it will normally appreciate.

Obv 48k won't get much on its own, but its a good sized deposit and should get a cheap mortgage.

 

[KingGeedorah]

Buy cocaine. Sell cocaine.

Done.

Now you have a new car and a house.

 

[Fallensaint]

If you're not playing the stock market, commodities maybe or an ALtX or currency exchange?

Realistically your safest bet would be to invest in a balanced portfolio consisting of foreign and local currency and stocks as well as property. Easiest way to do this with limited funds is through unit trusts.

 

[The Fool]

find your old middleschool bullies and become The Count of Monte Cristo

 

[Strelok]

Take $500-$1,000 0f that and spend it on a consultation with an actual financial advisor, instead of asking for investment advice from a board that spends all day obsessing over lolcows.

Or spend it 50% on Bitcoin, 50% on Chris, and get back to us on which made it dissapear faster.

 

[KatsuKitty]

Start by completely paying off debt with an interest rate higher than 3% or so.

Whatever is left over, take 95% of that and put it in an index fund.

Gamble with the remaining 5% on biotech stocks that have a moderate volatility and 13% annual return.

 

[Fallensaint]

Take $500-$1,000 0f that and spend it on a consultation with an actual financial advisor, instead of asking for investment advice from a board that spends all day obsessing over lolcows.

Or spend it 50% on Bitcoin, 50% on Chris, and get back to us on which made it dissapear faster.

$1,000 to see a financial advisor?

 

[AnOminous]

Buy cocaine. Sell cocaine.

Done.

Now you have a new car and a house.

Remember to hire an evil lawyer played by either Sean Penn or Bob Odenkirk at some point in this process.

 

[Strelok]

$1,000 to see a financial advisor?

For investments it's not an uncommon sum. They tend to bill a $150-$250 an hour. Others bill a percentage, but I'm not in the mood for math.

 

[QI 541]

Invest it in something, probably stocks.

 

[Zim]

1760 gallons of sex lube.

In reality I'd do what @KatsuKitty recommends. Pay off debt and invest the rest. Patience = profit a lot of the time.

 

[ASoulMan]

Straight into the bank account.

Also, using it to pay off any debt.

 

[chimpburgers]

Use as much money as possible to pay off any high interest debt, especially from credit cards or auto loans. Put the rest in something like Vanguard if you're not interested in learning technical analysis and fundamental analysis. I'd avoid those online brokerage firms like Charles Schwab too.

 

[melty]

Spend it on a liberal arts degree, lol

 

[Crisseh]

Have you thought about starting a predatory loan shark company?