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what's the best way to invest money

what's the best way to invest money

Postby dreamcast459 » Tue Feb 13, 2018 9:23 am

ok not sure if this is allowed on here but hear me out. over the past few months i have been saving money into a savings account at my local chase bank. now im not looking to get rich by any means, but im wondering whats the best way or at least a good way to invest say 300-600$ so that over time i can earn money for say future needs or future emergencies.

edit just wondering what my fellow zoners think. trying to overcome my compulsive spending habits by saving and then investing

so feel free to toss ideas my way not really sure if i wanna invest in stocks as they can be tricky to earn money on
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Re: what's the best way to invest money

Postby kremiso » Tue Feb 13, 2018 11:18 am

I'm all ears too about this... really interested

sadly atm here in Italy the best way to invest money is to spend it for ourselves,
before the banks make it disappear... :(
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Re: what's the best way to invest money

Postby sasapinjic » Tue Feb 13, 2018 12:57 pm

Depends on definition of what "best" means.
Best and most sure way is to invest in land, as long as planet exist, land will be needed, look at what happen to alaska value over just one century for example. That is long term investment naturaly, most sure but not realy suted for your funds now. For example, just after the war here, in 1995, averege land suited for house building was worth around 5 $ per square meter in vicinity of this small city, now when city get bigger and one of most important cities in region, if s worth easy 50 $ per squad meter. Smart people who had money buy off lots of land and make a fortune. We all know price of land will rise after war, but only ones that had money culd invest. I have pay 500 square meters in suburbs around 2.250 € in 1998 here for example.
Second is investment in Bank, nice easy money with little but sure interest.
Everithing else is more riskier and more rewarding, depends on your sorounding, or offers you find on the globe.
And for last, there is no easy and sure money!
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Re: what's the best way to invest money

Postby chickenwings247 » Tue Feb 13, 2018 12:59 pm

Definetly not crypto currency lost a bunch of money after the plunge lol
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Re: what's the best way to invest money

Postby dreamcast459 » Tue Feb 13, 2018 1:08 pm

having my money sit in my savings isnt bringing me much of a return
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Re: what's the best way to invest money

Postby NoMention » Tue Feb 13, 2018 1:23 pm

I am an active investor. The real question that you need to ask yourself isn’t how to invest, it is how do you want to manage your tisk when investing. You can be very conservative and invest your money in CDs and get a safe but low return. You can invest in leveraged derivatives and take on extreme risk (possibly losing everything) but also generating multiples of your investment.

Ever notice all those commercials for investment firms (eTrade, Charles Schwabb, etc) aleays have that super fine print on the bottom of their commercial? It says something to the tune of “all investments have inherrant risk and you may lose money” blah blah.

So before your question can be answered you must ask yourself what your outlook is, long term or short term, and what your risk level is. Only CDs and Money Market type of investments are safe but they fon’t really give you much in return. As interest rates move they will vary. There also may be minimum investment requirements.
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Re: what's the best way to invest money

Postby sasapinjic » Tue Feb 13, 2018 1:36 pm

dreamcast459 wrote:having my money sit in my savings isnt bringing me much of a return


sasapinjic wrote:And for last, there is no easy and sure money!


Safe with small interest, or gambling for big profit, there is no option for both, (except in extrime situations like one i have mentioned), otherwise we all will be Rich!
Especially not with only 600$...
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Re: what's the best way to invest money

Postby qedeshim » Tue Feb 13, 2018 2:34 pm

The best way in my opinion is to pay off any debt you have. And if you're renting you should save up to buy a place of your own. If you don't have a place paid off and you have any loans that are collecting interest you are wasting money investing and putting money in savings.

Once you do that investing in land id's usually a safe way to make money. Rental property is good too but you have to see it as a business and not a place you own. Because a lot of people when renting get attached to the property and it gives them headaches when they see what the renters are doing to the property.
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Re: what's the best way to invest money

Postby CBThatGuy » Tue Feb 13, 2018 2:44 pm

I went to Wells Fargo and set up an investment account with them. I am too scared to go for stocks and high risk ventures so just set up a low risk account. Put 9k in it and have been earned an additional $500 on it over the past two years.

I agree that the best advice is not to rack up any big debts. I'm 36 and refuse to own a credit card for that reason, although that did make buying a house hard when I essentially have no credit.
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Re: what's the best way to invest money

Postby CurbsidePharmacist » Tue Feb 13, 2018 3:04 pm

Hookers and blow.
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Re: what's the best way to invest money

Postby CBThatGuy » Tue Feb 13, 2018 3:07 pm

CurbsidePharmacist wrote:Hookers and blow.

I had a similar investment strategy in my 20s: video games and speed.
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Re: what's the best way to invest money

Postby HisDivineShadow » Tue Feb 13, 2018 3:13 pm

Some good advice here. :)

Stock market investment is gambling even if you spread the risk across a range of listed companies by doing it via a managed fund.

In the crash of 2008 I lost almost a third of my savings literally in the three months between the previous valuation and the cashing in of such an investment. You also have yearly management and other fees taken out of it too.

I was also getting into what are called "penny shares' at one time too. This is where you invest small amounts, typically of the size the OP describes, in a small company or companies which you hope are going to have their shares rise in value significantly. This can be long term but generally not.

When they do rise and the cost of selling and buying shares in another company has been worked into the equation out you cash in and reinvest in another company, growing your money in the process.

When it goes well you can get great returns in comparison to any other investment but the risks are such that the reverse is equally true. Financial newspaper's experts' recommendations and other (online) financial pundits often get it wrong too. No matter how you dress it up it is no different to gambling.

If the company fails to deliver you can be stuck with shares worth nothing and never likely to worth anything no matter how long you hold onto them. In short, like any other gamble, you should only risk what you're willing to loose.

Otherwise unless you have tens of thousands of $/£ to invest savings rates almost everywhere are so, so low it really is hardly worth the effort of opening a new saving account of any sort. You might as well let it sit wherever it is now earning the same paltry interest and just add to it regularly from whatever income you have and hope the bank itself doesn't go bust. :)
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Re: what's the best way to invest money

Postby mrpink999 » Tue Feb 13, 2018 3:35 pm

I'm going to agree with Curb on this one
600 is not alot to invest unless you are buying and selling.
(many big businesses started this way to raise capital

Both examples are highly sustainable and in high demand + +
They both have volatile issues tho - -

The white can simply melt away under certain circumstances and leave you broke with a runny nose and a cold sweat, many customers want freebies, etc..

The other is very lucrative but also is volatile in terms of angry hookers, aging products, diseased customers ..beware.
(where are the equal rights liberals? .. I wanna have a 2 for 1 sale)

Check your local laws before taking these routes, certain parts of the country are not so friendly About these practices, About 50% of law enforcement use these commodities personally< dont start lyin' now

I recommend buying and selling with some degree of discipline to ensure profit.
Good luck on your new business ventures
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Re: what's the best way to invest money

Postby nornor1 » Tue Feb 13, 2018 3:59 pm

Just Save your money. easier said than done I know. People that are wealthy, are actually very cheap.
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Re: what's the best way to invest money

Postby sasapinjic » Tue Feb 13, 2018 4:26 pm

qedeshim wrote:The best way in my opinion is to pay off any debt you have. And if you're renting you should save up to buy a place of your own. If you don't have a place paid off and you have any loans that are collecting interest you are wasting money investing and putting money in savings.

Completly agreed here, if you have your own place you save big time for rent.I have build my own house in 1999, it had only first floor finished and no roof, so i spend next 5 years finishing her off with money i was to spent on rents in that 5 years . I finished her in 2004, from then i am rent free. Thats 14 years of not paying any rents, so far! :D
Imagine what can you save with lets say 30 years of not paying rent!
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Re: what's the best way to invest money

Postby Bartman72 » Tue Feb 13, 2018 5:10 pm

I'll address the spending side. I spend a lot on video games mostly, so I have a budget in Excel. I'll allow myself to spend $X each week for entertainment. I add up all my receipts, and if I spent under one week I can spend that much more next week.

Aside from that, I brown bag my lunch at work and eat out maybe 2-3 times a week. I have a prepaid Verizon flip phone that I spend about $10 a month on average.
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Re: what's the best way to invest money

Postby Gamerone » Tue Feb 13, 2018 5:35 pm

keeping it in savings is great, also bonds is a great way to go, stock market well if you find one thats profitable maybe, buts thats a gamble. buying and renting properties ect. can give great money. You can can store it in a secret hiding place at home ect.
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Re: what's the best way to invest money

Postby Preston2011 » Tue Feb 13, 2018 8:17 pm

Go to the casino and put it all on red!
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Re: what's the best way to invest money

Postby CBThatGuy » Tue Feb 13, 2018 8:22 pm

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Re: what's the best way to invest money

Postby ISO_Ninja » Tue Feb 13, 2018 11:14 pm

All of this general advice is sound..... but with just $600, it's not gonna do anything for you today. You can't buy property or much else, and the stock market is pointless with just $600.

I would definitely look into jump into crypto currency with that because it could actually make you real money in a short timespan by daytrading or week trading. The reason why is because you don't need to buy an entire share of a coin..... like Bitcoin, for example. Most people think you need $10,000 to buy one (or $8,500 at today's price). No, you can invest $10 into bitcoin. If BTC goes up 10%, your $10 earns 10%.

Now, if you wanted to buy Amazon stock, you'd need the entire $1,400 to purchase a share of AMZ.

However, my suggestion would be to build a crypto mining PC.... your PC will literally earn you consistent money every month.

Take your $600 and buy Nvidia GeForce 1070 graphics card and upgrade your existing PC.... that card should mine you $30/month profit on a bad month and about $100/month on a good month. NiceHash is a good, user-friendly site to join a mining pool.

Turn your PC into LITERALLY a money-printing machine... and legal.
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