I’d just keep adding more to my savings.
Do I need the money soon? Then I leave it in savings.
If not, I’d put it into dividend stocks to get paid regularly.
If I never expect to need it again, I’d buy as much SCHD as possible.
This only applies to money you consider ‘extra’ though.
I put $10,000 of my savings into VGT back in 2014. Today, it’s worth $56,000. Wish I had invested more!
Tech has grown a lot, and while it may grow slower in the future, it’s still a good bet. But if you’re planning to use the money soon (within 1-5 years), I’d go with a high-yield savings or money market account.
I’d get an automated eCommerce store through an agency.
I’d try crypto mining. If I had $5.5k, I’d buy two KS5 20TH miners. They’d make me about $27 a day in passive income.
Austin said:
I’d try crypto mining. If I had $5.5k, I’d buy two KS5 20TH miners. They’d make me about $27 a day in passive income.
How much does your electricity cost daily? And what coins do you mine?
@francoismitterand
Most miners don’t even break even because newer and cheaper machines come out. Or, the coins drop in value because everyone’s mining the same ones. If you want to burn through cash…