So i got 5 grand stacked and im looking at options as to what to do with it that will yield me more gains and make dat money work for ME.

If you had 5 grand what would you do with it? To make it grow for you, any stocks in particular? a high risk mutual funds account? put it towards a down payment on a townhouse/condo? etc etc...

I've been thinking about investing in a bottle of whisky, strictly as an investment but i can see it giving quit the backlash so im hesitant on that one, its a bottle of 44YO whisky tomatin 1971 only 252 produced. Comes up to about 6k after taxes in Canada, not to sure if Canada has as big of a whisky luxurious audience as US / UK / ASIA.


Anyways i'm interested in what you guys would do.

All into Dogecoin

Mutual funds are a way of the past for the average investor. The high management fees make the yield terrible compared to ETF with low management fees like vanguard funds.

If you're young usually growth over income stocks like high yield dividends and REITs.

401k

401k > Roth IRA > ETF's

You're still investing into ETFs in your 401k.. So no one answered the question above as he's inquiring what financial vehicle people are recommending.


Also I'd have to disagree with the other two posters . They clearly didn't think of tax consequences which is a sign of poor financial investing.

A 401k should be contributed to when you're earning a high income often once you have matured in your career progression and are near your highest earnings. It will have the greatest benifit to you at that point.

A Roth Ira is better when you are just putting away small amounts at a time sporadically.

Judging by your post you don't have high earnings or you would not be on jsp asking what to do with 5k.

Upon making your Roth Ira you then transition to 401k.



This post was edited by wesley123 on Jul 25 2017 09:13am

To late for edit ment maxing not making

Go to casino.
Play roulette.
5k on the double zero.
Profit.

If you don't have a roth IRA then get one. Pump $200 a month into it and retire rich. If you already have one then go with mutual funds.

200 a month hahah. Come on be realistic. You should be putting away 1500 a month past the age of 25 in my opinion at a minimum unless investing in an asset via a mortgage payment which in essence is forced savings. Let compounding do some work then move those amounts into income generating units like REITs or high yield divideds for retirement which will provide a decent income stream to couple with social security.

Slowly sell off to achieve retirement goals. Liquidate any assets not needed like the family home and snow bird your years spending it around d the world.


Mutual funds are not a wise choice for an average investor. The management fee is out of control on most.


Robo advisors do a better job and most ETFs produce the same results with lower fee.

This post was edited by wesley123 on Jul 25 2017 02:00pm