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Simple and to the point -- Somebody says here's 2-3K
Posted on 2/17/14 at 12:47 am
Posted on 2/17/14 at 12:47 am
How would you take that money and make it grow and work for you? Whether its start up money for a business, stocks and a portfolio, auctions, anything, etc.
I'm curious to hear what some guys with more experience would do trying to get ahead at a younger age, given the circumstances.
I'm curious to hear what some guys with more experience would do trying to get ahead at a younger age, given the circumstances.
5
Posted on 2/17/14 at 1:00 am to TRUERockyTop
VTSMX
Posted on 2/17/14 at 1:29 am to jimbeam
buy cars and flip them for 40-60% profit.
buy them broke and fix them and get top dollar.
buy them broke and fix them and get top dollar.
Posted on 2/17/14 at 4:38 am to TRUERockyTop
VGSTX Vanguard Star Fund. $1k Minimum investment. 9.85% return since inception.
Posted on 2/17/14 at 6:18 am to TRUERockyTop
Two or three grand isn't much for a nest egg. If you can use it for seed capital for a business that would be good. Using it to invest in funds and such is more likely to work if you can wait a hundred years.
Personally I would plow it into bitcoins a year ago.
Personally I would plow it into bitcoins a year ago.
Posted on 2/17/14 at 6:29 am to TRUERockyTop
quote:
How would you take that money and make it grow and work for you?
Posted on 2/17/14 at 6:30 am to AthensTiger
For someone who knows how would you start an account like that? And what exactly is it and how do you grow your investment with it?
Thanks for the responses guys.
Thanks for the responses guys.
Posted on 2/17/14 at 6:34 am to TRUERockyTop
quote:
For someone who knows how would you start an account like that?
Go to Vanguard.com
Open Account
Linked Bank Account with Funds
Purchase said fund
Profit
Posted on 2/17/14 at 6:52 am to TRUERockyTop
If you are in college I would just try to flip stuff on craigslist. Is there any popular hobby that you are particularly knowledgeable about? If so, hunt for good deals, negotiate, re-sell, profit.
One of my buddies does this with musical instruments and averages about +30% per transaction. If you don't work full time already, could be a decent option. All depends if you think working an extra few hours a week is worth the return you can get. Checking for deals daily and having the flexibility to meet someone in the middle of the day with cash would likely be your biggest differentiator.
If you don't have time for that, just open a vanguard account, buy an index fund and forget about it.
One of my buddies does this with musical instruments and averages about +30% per transaction. If you don't work full time already, could be a decent option. All depends if you think working an extra few hours a week is worth the return you can get. Checking for deals daily and having the flexibility to meet someone in the middle of the day with cash would likely be your biggest differentiator.
If you don't have time for that, just open a vanguard account, buy an index fund and forget about it.
This post was edited on 2/17/14 at 6:54 am
Posted on 2/17/14 at 7:40 am to Chris Farley
If someone just handed me $2k, I'd go to the boat and let it ride on red. Easy come, easy go.
Posted on 2/17/14 at 8:09 am to guttata
Exactly.. 48% odds is a pretty damn good chance of doubling up
Posted on 2/17/14 at 8:11 am to brbowhunter
With $2k, I'd use it for fun. That's not enough to really do much with in regards to retirement or anything like that. If I had to invest it, I'd probably try to time out a Tech stock or just dump into a Blue Chip Dividend stock or a dividend ETF such as VYM.
I'd like to hear some more about this. How do you find them? Work with a shop to fix them for cheaper?
quote:
buy cars and flip them for 40-60% profit.
buy them broke and fix them and get top dollar.
I'd like to hear some more about this. How do you find them? Work with a shop to fix them for cheaper?
Posted on 2/17/14 at 9:59 am to TRUERockyTop
The Star fund is made up of 11 other Vanguard funds. It is roughly 60% stocks. The expense ratio is .34%. No upfront fees. Minimum initial investment is $1k and min additional investment is $100. Seems to be a good place to put 2-3k. You should be rewarded if you keep adding to it over time, quarterly or monthly, and stick with it long term.
Posted on 2/17/14 at 9:41 pm to LSUtigerME
If your looking for cars, invest a little and put out an ad or two saying you'd pay cash for cars, people will call..but this will only work if you know how to fix cars (which I don't)
As for saying saving 2k won't help with retirement is ridiculous, It's the small savings that count over time
Compounding interest is a powerful tool
As for saying saving 2k won't help with retirement is ridiculous, It's the small savings that count over time
Compounding interest is a powerful tool
Posted on 2/18/14 at 4:26 am to AthensTiger
Re: the Star fund, since this guy is young, shouldn't he be in something that is more than 60% stocks?
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