Should I buy an existing profitable e-commerce store, invest in crypto, invest in Vanguard ETF, or buy a brick-and-mortar business?
Consider short-term CDs. You can get about 5% with no risk of loss unless you cash out early. I have been doing $240k at 6-month intervals, earning over $12k a year.
With that amount, I’d only look into real estate.
Shan said:
With that amount, I’d only look into real estate.
Due to high interest, I don’t want to get into real estate. Even after paying mortgage fees and renting out, I’d be in negative cash flow (in Australia). Also, I’m not a big fan of interest due to religious beliefs.
@Keaton
E-commerce and crypto are a gamble unless you know what you’re doing.
Shan said:
@Keaton
E-commerce and crypto are a gamble unless you know what you’re doing.
FTFY: E-commerce and crypto are a gamble.
I would start educating myself about finance and investing.
Beck said:
I would start educating myself about finance and investing.
That’s why I’m here.
DCA into VOO/VTI or whatever makes sense to you. In the long run, they can’t be beaten.
Eventually, you’ll want to set up the trifecta of passive income - rentals, dividends/interest, and options trading income. Mine also includes business income, which is almost totally passive since it’s run by my team daily. I also experiment with crowdfunded real estate and gold-backed personal loans.
@Finley
Invest in ETFs with the highest return/volume.
@Finley
I really want to buy a business that can be run by a team with little supervision, where I don’t manage day-to-day operations.
Keaton said:
@Finley
I really want to buy a business that can be run by a team with little supervision, where I don’t manage day-to-day operations.
Haha, the first step is to run the business yourself. You need to understand every detail of your operation and build systems to automate your company with as few employees as possible.
Anyone who thinks they can buy a well-running business and just take over with minimal effort is setting themselves up for failure.
I have similar questions, so no advice from me.
I recently attended a website flipping seminar and came away with no new insights.
I’d recommend a book called ‘The Psychology of Money.’ It helped me understand my financial goals at a similar level to yours and my personal risk threshold.
Why not invest everything into something low risk, focusing heavily on bonds? As long as you don’t buy single companies and choose an ETF that fits your risk tolerance, you’ll be fine. Change your mindset from saving to investing, and you’ll do well.
Kieran said:
Hysa.
That advice would have been good two weeks ago.
Kieran said:
Hysa.
That advice would have been good two weeks ago.
Why was the advice good two weeks ago but not now?
Arden said:
Kieran said:
Hysa.
That advice would have been good two weeks ago.
Why was the advice good two weeks ago but not now?
The Federal Reserve is cutting rates.
Arden said:
Kieran said:
Hysa.
That advice would have been good two weeks ago.
Why was the advice good two weeks ago but not now?
What makes HYSA possible? High-interest rates.
What did the Fed do? They dropped interest rates.
So now it’s just a SA.