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Started By
Message
Unexpected $50K, not immediately needed,WTD
Posted on 12/13/22 at 2:40 pm
Posted on 12/13/22 at 2:40 pm
Unexpectedly gained $50K tax free money. Don't really need the cash right now but may in future. Obviously could drop it in savings but I have to believe there is better place to park this money with some returns. Is there an account with pretty decent returns but gives you the flexibility to withdraw when needed without penalty? What are the suggestions?
12
Posted on 12/13/22 at 2:49 pm to LiteHeaded
money market account rates are going to be north of 4% yield by the time the Fed hikes rates by 50 bps tomorrow. That's nothing to sneeze at.
This stock market is not for the faint of heart and you could easily be down 20-30% in a few weeks. If you need the money anytime soon I'd keep it in money market accounts (or maybe laddering CD's to squeeze a few extra bps out of it).
This stock market is not for the faint of heart and you could easily be down 20-30% in a few weeks. If you need the money anytime soon I'd keep it in money market accounts (or maybe laddering CD's to squeeze a few extra bps out of it).
This post was edited on 12/13/22 at 2:53 pm
Posted on 12/13/22 at 3:05 pm to LiteHeaded
Yo bruh throw it into qngy at bell tomorrow or gemsf
Posted on 12/13/22 at 3:17 pm to LiteHeaded
I'd go to treasuries at the moment.
3MO/6MO/9MO TBILLS You can get 4.5%
1YR Note you can get slightly more, 1 yr cd's you can get 5%
shite you can get 3.25% in savings accounts right now.
Not the worse time in the world to get low risk yield for sure.
3MO/6MO/9MO TBILLS You can get 4.5%
1YR Note you can get slightly more, 1 yr cd's you can get 5%
shite you can get 3.25% in savings accounts right now.
Not the worse time in the world to get low risk yield for sure.
Posted on 12/13/22 at 3:50 pm to Pendulum
+1 for Treasuries.
Pick a maturity or better yet, ladder into maturities. Better yield than most CDs of similar maturity, they’re marketable and unlike CDs, there are no state or local taxes.
Pick a maturity or better yet, ladder into maturities. Better yield than most CDs of similar maturity, they’re marketable and unlike CDs, there are no state or local taxes.
Posted on 12/13/22 at 4:10 pm to LiteHeaded
Put it on red and don’t look back.
Posted on 12/13/22 at 4:28 pm to LiteHeaded
If you don’t need it, use that for some angel investing. You could turn it into a pile of cash!
Posted on 12/13/22 at 7:08 pm to BigApple
quote:
If you don’t need it, use that for some angel investing. You could turn it into a pile of cash!
Uh... not sure he is moving the needle with 50K. Plus does not sound like he is looking for the high risk option.
Obvious answers are treasuries if you think you will need it soon, if long time horizon. Can't hurt to DCA into some index funds and let it ride.
Granted if you have not maxed out your tax-advantaged retirement accounts this year. Would be a perfect time.
This post was edited on 12/13/22 at 7:09 pm
Posted on 12/13/22 at 7:14 pm to UltimaParadox
Buy XRP - Rick on assets will explode when market crashes
Posted on 12/13/22 at 7:16 pm to BigApple
Not familiar with "Angel Investing", care to provide a quicker primer to the premise?
Posted on 12/13/22 at 7:21 pm to UltimaParadox
I think you are correct in saying that the obvious is Treasuries. However, sometimes the obvious is not always the final. I am heavily leaning towards the T-bill option at 12mos, but am open to all suggestions. Yes, even the "hookers and blow" option is an option and I would bet a fantastic and fun time is really not my best bet. Let's say something between T-Bills and hookers and blow. Does that narrow it down some?
Posted on 12/13/22 at 7:23 pm to Turf Taint
quote:
Put it on red and don’t look back
Probably could book a trip to Vegas and do that, and I do appreciate that suggestion, but am gonna pass, the temptation to let it ride after a win is too great....
Posted on 12/13/22 at 7:26 pm to Houtexlandscape
quote:
Buy XRP
Ah yes buy XRP, guessing this guy is holding some heavy bags of a worthless crypto asset.
XRP the centralized replacement for cross-border payments known as Swift. This thing is even hated on by most crypto believers. Plus why would you invest in the token itself which is basically being used purely for speculation. That in itself destroys its intended utility.
If you really believed XRP will replace Swift. Then you should invest in Ripple labs
Posted on 12/13/22 at 7:42 pm to LiteHeaded
There are companies all around looking for investors. I usually like to invest 20k - 25K in companies that are preproduction. Sometimes they never work out but the ones that seem like they will be successful, I reinvest in later rounds/series of funding. I have had good luck over the last several years and a few companies have either sold to bigger competitors or are turning a nice profit. I think that if he doesn’t need the money, he could pick a couple of companies and it could turn into a few hundred thousand in the next few years.
This post was edited on 12/13/22 at 7:44 pm
Posted on 12/13/22 at 7:58 pm to BigApple
How does one go about finding those companies to invest in? Word of mouth or is there a "Craigslist" type advertising thing somewhere?
Posted on 12/13/22 at 8:37 pm to LiteHeaded
Most of my stuff has been through word of mouth.
Posted on 12/13/22 at 8:52 pm to UltimaParadox
quote:
not sure he is moving the needle with 50K.
It’s not uncommon to make 7x - 10x on your money if the company is successful. Plus, depending on the state, there may be tax incentives (Louisiana is very friendly in this area) if he already has some tax liabilities. If he doesn’t need the money, I think it’s a pretty good idea.
This post was edited on 12/13/22 at 8:54 pm
Posted on 12/13/22 at 9:17 pm to Jag_Warrior
Can you explain a little more? We’re in the process of saving for a house and we have the max tied into I-bonds, so I’ve put the remainder in a high yield savings account currently getting 3.6% but would love to get more if available somewhere else
Posted on 12/13/22 at 9:27 pm to TheJunction
Here’s link to a good explanation.
How To Buy Treasury Bills & Notes Without Fee at Online Brokers
In addition to ease of purchase and higher yields, I always mention the tax benefits that CDs and HY savings don’t have.
I have bought them on the secondary market before and also through Treasury Direct. But lately I’ve been buying new issue T-bills of varying maturity at auction through TD Ameritrade (no fee).
How To Buy Treasury Bills & Notes Without Fee at Online Brokers
In addition to ease of purchase and higher yields, I always mention the tax benefits that CDs and HY savings don’t have.
I have bought them on the secondary market before and also through Treasury Direct. But lately I’ve been buying new issue T-bills of varying maturity at auction through TD Ameritrade (no fee).
Posted on 12/13/22 at 9:30 pm to Jag_Warrior
Great thanks!
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