I have 20k in capital as of right now. I definitely not looking to take vacation trips with this money. I rather have it grow. What steps should I take and what should I do?
Invest it and keep investing more, and reinvest your gains. Become knowledgeable in the area you invest in do you don’t invest blindly so you don’t lose your money. Invest for the long term and don’t stress out about market fluctuations. Don’t get caught up in street talk or office talk or the stock tip of the day. Understand what you are buying and build wealth slowly and surely. Also learn about leverage and how it can increase your returns, but understand the risks associated with it.
House hack is great way to start. $20k is enough for a house hack where by living in one unit of a 2-4 unit building you can buy with just 3.5% down on an owner occupant loan. With all that leverage your net worth rapidly increases even just from mortgage paydown. Otherwise non owner occupant requires 25% down normally and $20k invested in stocks or syndications isn't going to really make much after fees.
@Chris you should invest 10000 in a mutual fund stock and maybe find a piece of real estate for a flipper 👍🏿
Definitely have to do my due diligence in any investment that I make. Thanks for your reply.
It sounds like this is all of your cash. I would recommend to do nothing at this time. Put it in a savings account, educate yourself, come up with a plan and execute. Know the difference between investing and speculating.
@Chris Bustillo . Invest 10k in GLD. Put the other 10k in the SPY. Everyone can agree the market is high but nobody can agree when it corrects. There are not many assets right now worth putting money in....accept for gold IMO.
If u r willing to take on more risk, put the second 10K in GLD in a month or two.