This is the first time I've been on this board, so I apologize if this is a common topic.
I was recently given about $20,000 for college, and I already have all of my college expenses payed off. What would be the smartest way to use this money, my father suggested investment. I know I would greatly benefit from this in a 501K.
>>1286627
>This is the first time I've been on this board, so I apologize if this is a common topic.
Yes it is a common topic, however since you are new to this board, I'll tell it to you once. /biz/ has an own fund, that is managed by a couple of posters here that work in hedgefunds. we put money we can spare in it and they try to make the best profits. currently we are at 1340% in the course of 5 years.
however to get access to invest in it you have to be a known poster, so lurk more, learn and maybe you'll get invited. cheers mate.
Open an IRA and maximize the contributions.
Have a few thousand in the bank for normal expenses and emergency.
The rest in stocks to hold
>>1286627
First thing I would do is ask for advice of the message forum of historical Chinese lithograph enthusiasts so you're on the right track
>>1286627
You've posted this thread 4 times already
reported for spamming.
MODS MODS MODS
/thread
>>1286635
Put it in index funds and wait.
>>1286627
Keep the money in a checking account and use it for expenses you will have for the rest of your college and during the period from when you graduate to when you obtain full-time employment.
Why would you follow the general advice of putting it away for retirement when it's more useful for you now?
Shit, I can save up $20k in 3 or 4 months NOW, but when I was about to graduate I barely had $10k in the bank, a shit car, kmart clothes and every other frugal purchase.
$20k back then when I needed it, and when it wasn't so easy to get, could have meant a more reliable car so I didn't run late for work those few days, more comfortable clothes, some good times with friends, bla bla bla
>>1286627
Give it to me and I'll invest it for you. I can promise 8% p.a. return on your investment. But I work anonymously because I'm on welfare from two states on two diff identity's already. You will have to transfer the money via bitcoin. I will provide a legally binding contract between the two of us for trust purposes.
Email is [email protected] contact me if you like.
>>1288224
lmao
no no no
>>1286627
yes anon, there is an investment fund like >>1286635 says, some of us oldfags on /biz/ made, if you want we can give you the paypal account where to invest in.
>>1288224
You almost convinced me
>>1286627
hookers and cocaine
>>1286647
This, Roth IRA is best option, but you should look at which one fits your situation
