For years you saved up some cash because the interest rates in the Bank.. or at least in Canada are hovering around 0.5%. So basically keeping any cash in the bank is losing money from inflation. Keeping it outside the bank is risky and ALSO loses to inflation. So what do you do? I have searched the internet but have never found the "right" way to go about it. I have only seen what to invest in.. but not HOW.
If you had $25, 000 in CASH what could or what would you do with it?
Here are some suggestions I have heard:
Invest in Strong Companies
Real-Estate
Investment in Education
Bonds
Precious Metals
Annuities
Art
Hedge Funds
Cryptocurrency
But Again.. this is CASH? If you had $25, 000 in CASH MONEY.. what would you do with it?
If I had 25 thousand knocking about, I would put at least half into cryptocurrencies with solid fundamentals. A small portion would definately go into BTC, but other interesting projects I like are Monero (completely anonymous), ETH (really great tech), SIA (decentralized storage is just gonna grow) and AMP (new model to monetise content creation/sharing).
Art is always good, as it gives you something to look at.
Make sure to spend some of it on experiences that give you life-long memories!
I'd give some to charity and use the rest to plant a small orchard and make some nice garden beds.
charity is always good..this is about growing money to GIVE more charity so I can give more charity;
In Canada it's kinda hard to invst in an orchard or garden as the weather is not good.
I am not from Canada, obviously, but maybe "christmas trees" grow well there? Also, I read a book called seed money in action. I do not recall the authors name but his view was that giving charitably was the foundation of growing wealth. I too believe that. I also think spending cash on education is a good, wise, and practical investment. However it does not provide any monetary return either.
yes.. it's true. Giving money does lead to getting more money. It's actually a biblical concept.
Buy a random cryptocurrencies now, and check it in some years.
Expect not less than 300-800% return :)
seems like a gamble just like silver and gold.
Well, i don't think. with silver and gold you probably just "save" your money.
With cryptocurrencies, probably you will multiple them. If you don't want risk, just buy some Bitcoin and keep them.
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Funny enough ... This is what I have been asking myself lately . The dollar is starting to loose value. I just want to put my money in places with little to no third party risk. And not in a full blown bubble. That basically leaves just metals gold/silver and cryptos. When the dollar, stock market, and housing start going down ... I dont want to be on that boat. What are you thinking of doing ??
Well, I invested in Gold and Silver in 2009 and bought up to 2013. Since then the Gold and Silver prices have been manipulated in an environment that keeps me uncomfortable. I looked at Bitcoin in 2009 but didn't know how to purchase it.. then it was like $5.00.. so I feel kinda shitty about that. Right now cash can sit outside the bank.. but it collects dust. I would even look at collectibles and art; but I have heard problems wit forgeries in Art.. I'm basically stuck ;). That's why I wrote this article.. to see what a person would do step by step.
All my extra money is going straight into the crypto
I keep it in cash for emergencies. Just knowing that I have enough to keep me going a year makes me feel good.
I go with 5 year CD's. Still losing money to inflation. But you can get 2%
I also buy silver, the most undervalued metal. I play it pretty safe at my age soon to be 69. Gave up vote will follow @cullyguy