Howdy /biz/.
I'm 20 years old and I'm in my third year of university (biology) without a job.
I have saved up around $40,000 (maplebux) which is just lying in a shitty 1.75% interest savings account from trading vidya game items ($10,000 tied up in other shit).
Lurked the board for a while so I have a very minimal idea of investments and certain meme stocks that are talked about. However, not too sure what to do to better my situation and put my savings to work.
I live with my parents (in a rented house) so I don't really have any bills to pay other than phone bills and netflix, and I live in a Canadian city with a very hyperinflated housing market (due to Chinese millionaire investors) so using the money for a down-payment is next to impossible.
What do /biz/?
Where in Canada are you getting 1.75% interest in a savings account?
It's originally 0.60% but an additional 1.15% for new funds (CIBC)
Canadian here too that wants to know what to do with money sitting in savings. I heard something about mutual funds. Going to talk to the bank this week.
>>1048667
Im an E town fag and if my family didn't have money I would have no aspirations to move to Hongkouver. That's probably your main problem. Cost of living. Edmonton sucks except for June July August, and Calgary is turning into a ghost town so don't consider moving here for property. As for your 40K I would honestly invest it in licenced grow ops. Yup cannabis. My buddy saw that trend got on, cashed out and bought a BMW M3 with the profits. Especially with our new gubment there's no chance of that market getting worse, actually quite the contrary.
>>1048758
I was seriously considering something along the lines of that, but my parents are fairly conservative and old-fashioned and would probably be pretty disappointed if they found out.
Would you suggest acquiring my own licence and starting my own grow-op or simply investing in an already started local one?
>>1048756
Currently have a mutual fund going with a couple thousand that's been sitting there for like half a year. Pretty shit desu. It was some type of joint mutual fund and GIC thing, and over 6 months its lost 3 bucks lmao.
>>1048780
My parents are both of those, but they are business people and money talks. I don't smoke pot anymore (makes me forget everything to a point I wonder who am I), but really it's not that detrimental, it's just easy to abuse. As for the millions who are gonna smoke it and make their lives more enjoyable but get them even more stuck in their day jobs I can't wait. Anyways I'm no expert, but to start one out:
>Aquire licence
>Lease or mortgage some property
>Equiptment for lights and temp regulation
>security fees
>measurement devices
>hydro bills
>the plants them selves
>harvesting them
>acquiring a customer base
Mind you, you do have a biology degree so that might help, but ultimately it's the amount of money and time you want to do with it. Being in the Vancouver area I'm assuming there's no outdoor land to harvest it so that will severely reduce an area to grow at least initially. I'd personally give my money to some bloke who knows what he's into, and profit on a return as I'm not passionate enough to open one up my self.
>>1048796
That's a solid idea desu, thanks senpai.
I'll definitely put some thought into it and try to get something going this summer. Seems like the toughest part will be leasing property for a reasonable price that will allow growing.
And yeah, I'm with you on the usage of weed. Doesn't appeal to me that much (only smoked it a couple times in the past), and the idea of drug-encouraged apathy seems pretty shit.
Why don't you buy VFV with your money?
Now is a great time to buy and you will make Godly returns by 2017.
Fuck a grow op make an extraction lab. Butane, flammable gasses at high pressure. Way more money, way more bad ass
>>1048667
since you are a literal nigger posting jew memes on a japanese website, no one can ever help you
These guys a right bro.
>>1048992
Seems like an expensive way to an hero tbqh.
>>1048970
Been thinking about pulling the trigger on some index funds. Is there any reason why this board likes them so much? Are there specific reasons why people tend to expect success from them in the near future?
