I receive $900 a month for life. How can I spend this money wisely? Invest into something profitable?

VasiliyZaitzev · 2018-04-11T21:04:44+00:00

While that's nice, it's not a "life changing" amount of money. I would recommend working, saving/investing at least the first 10% that hits your hand plus the $900. As you get older, you may want to spend it like income, but put it to work for you first. At least that's what I'd do.

You should go over to r-personalfinance for some other ideas.

SuperCrazy07 · 2018-04-11T22:02:07+00:00

Automatically invest it in a low cost index fund and pretend like it doesn't exist.

By the way, does your payout go up with inflation? If not, keep in mind that while in 2018 $900 is a little fun spending money, in 2058 (when you are near retirement) it's not gonna buy much.

weedbro69 · 2018-04-11T21:41:01+00:00

S&P 500 Index ETF. Thank me later. It’s a diversified and simple way to follow market growth and reap 10-20% annual returns.

AZ2MT · 2018-04-11T21:32:29+00:00

Here is a chance to learn about the power of compound interest. While this is not currently life changing money, when you reach retirement age, it will be.

For example, if you invest this money at an average 8% rate of return, you will have the following:

At age 45 $515,000

At age 55 $1,275,000

At age 65 $2,910,000

I know what I'd do.

shubhidoobi · 2018-04-12T04:01:57+00:00

r/personalfinance

8bitmadness · 2018-04-12T04:49:47+00:00

Take the advice in this thread, then go to /r/personalfinance and ask the same question there. Compare results and find the best option for you. In short, just invest it. There's good comments in here about it.

Marcus1138 · 2018-04-11T20:38:38+00:00

Invest a portion in your own education (books, online courses, workshops, etc), a portion into emergency savings, and a portion into retirement stocks/bonds whatever stable thing people invest in.

If you feel like dicking around with a little money on high risk high reward stuff like crypto or individual stocks that's cool too, but I'd not put more than 10% or so in that.

allyoursmylove · 2018-04-11T23:20:45+00:00

youre crazy lucky. if i had this opportunity, id be where i am now (socialite level wealthy) at least a decade earlier.

theres so many ways to turn money into more money. when you ask this question, you shouldnt be focusing on a single idea. you should be executing as many plans as possible. take risks, you can afford it. i mean you could even start your own drug operation. you could start a racketeering gang. you could run a couple businesses and make it big with that needle in the haystack. you could invest in stocks. you could intelligently analyze and bet on sports games. you could trade forex. you could trade bitcoins. altcoins. you could trade up on craigslist (search one red paperclip). good luck man, i feel like youre not the biggest risk taker ever, but trust me the only way to go from rags to riches like me is to take huge risks. and a ton of them.

is the startup bubble still not popped, the one after the dotcom era? if so then find a local startups and start investing. every company was a tiny garage-run operation at one point.

wkndatbernardus · 2018-04-11T23:44:28+00:00

Depending on your day job income, I'd start by maxing out ($5500/year) your IRA or Roth IRA (either one with Vanguard). Then, take the rest and stuff it in a taxable brokerage account (also with Vanguard). Use VTSAX or VTI as your only fund and watch the money pile up. Plus you'll get a nice tax deduction from your IRA.

Another option would be to use the money for living expenses in order to use your weekly pay to max your 401k ($18500). This is the best option from a tax and networth standpoint because all of the money will be tax deductible and grow tax free, saving you a couple grand in taxes.

Kalepsis · 2018-04-12T03:37:25+00:00

Vanguard total market ETF and physical silver.

M23W0OH7FV2t · 2018-04-12T04:36:09+00:00

This would depend on your income. For me, the extra 5,000 krone would go into your high-street bank account, but I'm in Denmark and earn almost DKK900,000/year. If you don't give a damn about the 900, go into something high-risk like crypto.

essie1623 · 2018-04-12T07:03:29+00:00

$450 in BTC each month.

18idlwk1920dc · 2018-04-12T03:09:51+00:00

All-in Bitcoin every month. Not joking.

mugenowns · 2018-04-12T01:04:34+00:00

kendallb183 · 2018-04-12T09:33:01+00:00

Go to r/personalfinance and get advice from people who do that shit for a living.

extolzeth · 2018-04-11T22:22:20+00:00

Crypto.

Open a exchange account and start pulling a couple hundred dollars in per month.

Spread it around various crypto, not all in one. r/CryptoCurrency r/ethtrader r/btc

osirise · 2018-04-11T22:39:47+00:00

Buy $900 worth of bitcoin every month. The value of it should go up exponentially compared to the other ideas on the thread. This will get you the most bang for your buck.

Title	I receive $900 a month for life. How can I spend this money wisely? Invest into something profitable?
Author	Retstortion
Upvotes	14
Comments	44
Date	April 11, 2018 8:00 PM UTC (8 years ago)
Subreddit	Posted in /r/askTRP
Original Link	https://old.reddit.com/r/asktrp/comments/8bk3ou/i_receive_900_a_month_for_life_how_can_i_spend/
Archive Link	https://theredarchive.com/r/askTRP/i-receive-900-a-month-for-life-how-can-i-spend.127755 https://theredarchive.com/post/127755

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