Investment Ideas

[Zetta_x]

While you may not know me, when it comes to having things, I'm a minimalist. What I mean by that is I do not spend money... like at all. I rarely ever do anything expensive, I don't go out to eat, I don't have a smart phone, I have had the same clothes for the last 3-4 years, I only drive to school and to see my girlfriend. I will be changing jobs, not only will my income double, but I won't have any higher living expenses. I have saved $500+ a month for several years and now I have accumulated quite a lot of money.

Now I want to invest some of the money into things but I literally have no ideas. Some things I do not need: Gym membership (included in my school tuition), transportation, software (you already know), etc...

I'm looking for two things:

1) Things that may return money over time
2) Something that may have great utility

Thanks =D

 

[Clarky]

one of these savings accounts like an isa (spelt right?) might do you wonders if you keep the money stored, my missus found some kind of account that if you kept your money in there for 3 years you would get double back, might be worth looking into

 

[Zetta_x]

one of these savings accounts like an isa (spelt right?) might do you wonders if you keep the money stored, my missus found some kind of account that if you kept your money in there for 3 years you would get double back, might be worth looking into

That's what I want to do. I will be doing school for 4-5 more years. My fellowship actually covers 95% of graduate school expenses (doesn't cover books). I was thinking of taking out a student loan (one that doesn't require payments or interest until after you graduate) and pool it with my savings and put it into one of those accounts. When I graduate, close the account, pay it in full, and work up my credit.

 

[Clarky]

sounds similar to an idea a friend of mine had once, he thought of getting a credit card with a one years no interest, withdrawing as much money out of it as he could, shoving that into an isa, leaving it for a year to gain as much money as he could, taking the money out needed to cover the credit card bill after the year is up, keeping the interest in the isa still and then repeating the process. still I would read up on it a bit more than what I have put in front of you, I'm sure theres bound to be a catch somewhere

 

[Zetta_x]

sounds similar to an idea a friend of mine had once, he thought of getting a credit card with a one years no interest, withdrawing as much money out of it as he could, shoving that into an isa, leaving it for a year to gain as much money as he could, taking the money out needed to cover the credit card bill after the year is up, keeping the interest in the isa still and then repeating the process. still I would read up on it a bit more than what I have put in front of you, I'm sure theres bound to be a catch somewhere

Yeah, I have an aunt who works for a bank, I want to get some details about investments from them. Although, I get about 54 cents of interest a month in a regular's saving account... not much.

 

[Clarky]

can relate, got a few grand chucked away in a savings account and last time I checked it was gaining about 30p interest a month

 

[Gahars]

You can always try to play the stock market, but that can be a risky proposition. Getting that money in a bank account with a good interest rate is probably a safer idea.

Of course, those are the boring answers. If you want exciting, try investing some money in black jack... again, and again, and again...

 

[Pleng]

I have a large amount of debts which are generating interest at 16%. You're welcome to pay them off and enjoy an 8% return on your investment - better than you'll get anywhere else

 

[Sterling]

Look into high return short and long term investments. When you get a bit of money pooled I'd think playing the Stock Market would be right up your alley. I've hear many people buying tons of Penny Shares and in the instant they gain a cent or so they sell them. It's a high risk high reward type thing. If you're going to take the Stock Market route, you'd better talk to a Stock Advisor. Since they get paid good money, most will have solid advice.

 

[Zetta_x]

As for stock market and any other probability of losing the money; I would love to do this. All of my grad school is statistics and I have already done a number of years with probability and predicting.

I may lend out the money in return for investments. My family is going through a money crisis since my aunt's last year failed brain surgery/stroke. While I have been contributing to the overall problem, but I can lend out money directly.

Thanks for the ideas

 

[Sterling]

Anytime. A word of warning though, my Uncle was widely considered to be pretty damn good at playing the market, and now he's 70,000 dollars in debt with his mother. Like any good gambler, have a fund you use only to play the stock market. Don't use any money outside of that fund, and always re-invest a percentage of the profits. Put the rest in the pocket you don't use for playing the market. And never, I repeat NEVER place all your eggs in one basket.

 

[Zetta_x]

I figured I would be like Daniel Tosh and bet $25,000 on a single blackjack game.

 

[Nathan Drake]

If you just want to watch your money grow, a stock market mutual fund would probably be right up your alley. Don't save your money and expect it to be worth your time in a savings account at a bank. In a mutual fund, you can see upwards of 12% interest. At a bank, they consider .5% to be pushing being reasonable. Of course, mutual funds come with a certain amount of risk. They aren't really playing the stock market, but there's always a chance that the account could crash and burn at some point in the future. You're essentially guaranteed to earn though if you do some research and learn how to invest correctly. I can't count the number of videos I had to watch talking about this stuff, and it certainly seems like a reasonable path.