My wife and I will be getting $40K from a settlement. You always hear people say "Takes money to make money". So how can I take this $40K and make it make money? What are some options your suggest or recommend? Stocks,savings bonds,IRA????
2006-06-21 17:25:25 · 5 answers · asked by bigddave32 1 in Business & Finance ➔ Personal Finance
Definitely the stock market is your best bet with 40k. You will need to do extensive research, spend a few hours a night with stock news and business cash sheets, and develop your own method of investing where you think your money has the best chance to prosper. These things are absolutely necessary unless you will be giving your money to an investment broker who you probably do not know to invest it for you.
I've been in the market for a few years now and it is unbelievably fulfilling. It takes much more hard work and sweat than most people think. Good luck with whatever you decide.
2006-06-21 17:32:52 · answer #1 · answered by JustJake 5 · 0⤊ 0⤋
$40k is a good sum of money to invest in a business. The stock market is the last place you should head to with as little knowledge as you sound like you possess. Of cause there are billions of dollars to be made from the stock exchange but there are trillions more to be lost by sheer inexperience.
Invest in small business idea where you would not even require any hired help. Unfortunately I don’t have any idea of your closest town but there are always small solutions that are required on a daily basis. There more people make money the more they get lazy.
I work as a business consultant and all I do is charge people for giving them ideas on how to make money. One great idea I gave to a woman who just received money from an inheritance, about $20 000, was to start a small school transportation service for the upper class suburb next to where she stays. What she does now is collect all the kids from their houses, take them to school and bring them back home at certain times.
The kids didn’t like riding the bus and sometimes their parents were very busy to take them to and fro school. She charges the parents $300 a month per child and she has ten kids she takes back and forth from school. All she had to invest in was a good minivan.
Look around, people hardly ever good business advice for free. I know I would open a small handbag shop for women!
2006-06-21 22:58:52 · answer #2 · answered by kope k 2 · 0⤊ 0⤋
The stock market but its risky. The best bet would be to buy gold (check out the rise in gold prices in the last 10 years) or invest in real estate but I guess you wont be able to buy anything substantial with 40 K.
2006-06-21 17:36:37 · answer #3 · answered by ash_m_79 6 · 0⤊ 0⤋
I don't think you need that much money to start your own business. I started with only couple of hundred bucks.
You can maybe start with affiliate programs. get a website and sell for other companies. the more sales you make, the more money you're gonna earn.
2006-06-21 17:30:02 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Invest in a low cost / budget mobile telecom company. Like "EasyJet" dit it with his airline company.
2006-06-21 20:04:30 · answer #5 · answered by f m 1 · 0⤊ 0⤋