I'm a 29 year old male that has $20,000 in cash in my bank account. What should I do?

20 answers · 5 days ago
I hate my job and workplace. Should I buy property and rent it? OR should I buy and sell stock? Or should I do something else?

Answers

Buy a $20,000 lot and hang onto it until that area gets gentrified and then sell it for more.
Anonymous · 5 days ago
The best thing to do is spend half on US Savings Bonds and leave the rest for a rainy day. Bonds mature in something like seven to ten years. So $10K should mature at $20K in the not so distant future. Investment property is a lose lose proposition for most people unless they can afford several mortgages and the insurance and maintenance of all properties. The old saying goes like this, "Real estate to a poor man is an investment. Real estate to a rich man is a liability." Your'e dirt poor by most standards and can't afford to lose hundreds of thousands or millions of dollars in a bad real estate deal and bad tenants and rising costs and so on. Few wealthy people own anything for liability reasons or they are insanely insured.
Anonymous · 1 day ago
Right now cash is the safest thing going. Bond (saving bonds)it and shop around for getting the best interest rate on a savings account . The market is undependable right now and interest rates at banks are the best in quite a few years .
Anonymous · 1 day ago
Invest in property even if its small
Anonymous · 1 day ago
savings
Anonymous · 2 days ago
Keep saving. you need more. what you have is an emergency fund. Keep saving.
Anonymous · 1 day ago
The safest thing would be to buy a long term CD. Some are paying 3% right now and there is no risk. The only drawback is that you cannot touch the money until the term is up or you'll pay a penalty. I started doing that in the early 1990's and the money grew a lot. After a point CD value dropped and the last one I had was a 5% for 5 years, so I changed to a managed investment account- conservative. It was great until this year with the abysmal performance of the market.My wife had hers set up moderately aggressive and gained a lot more than I did, but with more risk- bigger peaks, but steeper drops. Make an appointment with your financial counselor at work or a banker. Do it right and by the time you're 50 that $20k will become $200k or more. If there's good property deals for you with only $20K you might be OK on that route, but being a landlord is a big job with lots of responsibility and tax liability.
Anonymous · 3 days ago
You won't be able to support yourself with only $20K invested in real estate or stocks. It's just not enough money. If you have a great idea for a small business, maybe $20K might get your started. But, wait, that means WORK which is what you don't want. There are very few good sources of passive income that don't involve work.
Anonymous · 4 days ago
Send the money to me, then you won't have to worry about it.
Anonymous · 4 days ago
Buy land they ain't making any more of that.
Anonymous · 5 days ago
Stock market right now is very up and down. With trend in view as going down. Real estate is a safer choice if you know what your doing, how ever prices are still high right now and they are going down. I'd sit on the sidelines for a year.... reassess in 2020
Anonymous · 4 days ago
$20,000 is mear pocket change if you had $2000,000 even then a sensible person would think twice before playing at being a stockbroker.
And you will be doing just that.
You could and probably will lose your piggy bank of small change in five seconds if you haven't a clue about the risks of playing the money markets.
And from your incredibly child like question, you don't
As for property $20.000 will not buy you much.
Stick to your job as skid row is extremely uncomfortable and cold.
Anonymous · 5 days ago
Given some of your other queries

Where can I find this G-string at?
I'm trying to find a neon yellow g-string that has a clasp in the back of it. And by clasp I mean a little metal circle that connects the three strings on the back. I've always wanted one and it seems so sexy but I can't find one anywhere.

you are a very immature 29 year old who does NOT even want to work.

In today's world of 4 dollar a gallon milk 20K is not very much beyond your emergency fund, unless you already have that in place.
Anonymous · 5 days ago
Invest in in some safe investments and keep working. Just get another job.
Anonymous · 5 days ago
Put it in a long term CD account with a term of your choosing, the longer the term, the more interest you will get. The only downside of a CD account is that you cannot draw from it outside of the grace period without getting hit with a big fee nor can you make deposits into it outside of the grace period. If you don't like your job, look for another one and have it lined up before you quit your existing job.
Anonymous · 5 days ago