Hi all,
I have 10k saved, what should I do with it? Currently it is in a saving account but its not a good rate. I was looking at the 3.5% interest rates, but thats not very much return.
So what would someone do with 10k?
Now I do have a mortgage but I do not want to put it towards that, I want this money to grow….
or should I just take it to the casino and put it all on black?
2004 BMW.
I hear there's a guy selling an X3 on here cheap…
Buy platinum(physical) especially coins and in particular lunar platinum coins produced by Perthmint as they are limited to 5000 worldwide.
Depending on your interest rate on your mortgage and your marginal tax rate, sticking it in an offset account against your mortgage would be a great investment over a 6-12 month time horizon. It's risk free and if you are paying say 5% on your mortgage and your marginal tax rate is say 30%, then that's a 6.5% after tax return guaranteed.
If you are looking to invest over a longer period of time, then there may be other options but come with more risk (and possibly reward).
Give it to me and I double it.
If a time machine can only double my money I’d be disappointed. I’d be wanting $10k worth of bitcoin purchased at 8c a coin!
time machine takes the rest of the profit, OP only gets the double share lol.
No point wasting it on food and clothing so go hookers and coke
10k is not enough, try save even more.
invest in crypto, $titano 100k APY not bad for passive income, what you got to lose
shill
$10k
now is not the time to yield farm shitcoins
he's got 10k to lose
Keep saving all you can do, return on 10k is not going to be noticable to you anytime soon
Hmmm, do you like photography? (Idea For others too)
I will give you an example. (This might not be normal suggestion.)
I had a Nikon dx camera. That depreciated.
But I had good slr lens I bought secondhand and some new but cheaper than normal.
I sold them about same price or more than the price I paid for them more than 5 years later. My Sigma art lens $500 secondhand and then $700 new. A few years later. New was $1000 and I sold mine $700.
Takeaway. If you buy cheaper secondhand good quality lenses. They can sell for same price or higher price if you take care of them. You can use them for a few years. I gain some good skills and good memories from them. Just remember not to buy kit lenses or bad ones as well as some that will be outdated.
$10,000 can get some good lenses.
This idea works as the same item increasing in price due to inflation without the item aging in quality or use. New lens to secondhand lens will definitely drop in value. But second hand to sell again will sometimes be at secondhand price if take good care of it.
Great idea. I did this about 15 years ago when Sony purchased Minolta to make their Alpha bodies. The A700 was an awesome camera (for the time).
A lot of the original Sony branded quality lenses (not the kit stuff) were just rebranded Minolta glass. I was buying any cheap quality Minolta glass on eBay like it was going out of fashion. The RS style lenses looked modern for the time and the older glass like the f4 70-200 beercan delivered superior image quality albeit with slow autofocus.
A few years later as new photographers adopted to the Sony Alpha system it was time for me to sell. I made an absolute killing. I was buying beercans for $50 as new in leather cases and selling them for $350+. I picked up 50mm 1.4 primes for $80 and flogged them for $400. I was pretty much a Minolta eBay store.
With all of my profits I upgraded to an A900 full frame camera and went to town with the latest alpha mount Sony G lenses. The 70-200 2.8 was my favourite lens ever. I had amassed a huge kit basically for bugger all (but plenty of my hobby time). It brought me many years of enjoyment but I sold it all when Sony introduced the E mount system. I could see the writing on the wall.
Sorry to ramble but you triggered some great memories for me. It was the prime time of eBay where selling fees were reasonable and bargains were there to be found if you remained patient.
Edit: for shits and giggles I just looked at Minolta glass prices on ebay. I definitely sold at their peak. Sorry to all of those that overpaid for Minolta glass from me. Not.
Haha, one day, someone threw away a old canon lens and camera, more than 10 years old. I got a hold of it and saw it had a red ring around it, it was a wide pro lens. I just took it to a secondhand shop and sold it for $900 in 10 minutes. The camera was sold about $60 only
A perfect example of knowing what to look for. I also picked up a heap of glass from op shops. People were donating all their Minolta film gear thinking it was junk because digital was taking over. Similar to yourself I picked up a box of gear for $30. It contained $$$$ worth of glass including a huge amount of macro lenses and a holy grail 100mm f2. Great times.
Of course my first post example was of buying modern lenses secondhand. Not old ones. Because modern ones are better quality and less likely to be outdated. Some lens don’t get new version for many years, unlike cameras and even though new versions come out, the old version is still worth something because new ones are likely just more expensive.
Of course. The Sony / Minolta relationship was a pretty unique scenario.
In Qld. What would someone do with it? Money grown is like money saved. You could Buy a scooter and save money on transport if you want/can.
I had a scooter, I parked near the city for free and used scooter to go into city.
Better than paying for parking in city. It was quick to get around too and fun.
My friend saves money parking further too on cheaper parking.
I can take scooter on train and not have to drive though heavy traffic for work.
If needed, scooters can save a lot of fuel or car payments or insurance etc.
If you are young you should travel and increase your experiences, otherwise travel.
You could try and JetSki to Tasmania. Take extra fuel in a rubber ducky.
Buy domain names.
I know a great financial advisor, just can't remember the name
Caddick something…
She doesn't work anymore. She shot herself in the foot.
you want your money to grow, you pay off the house
check if rates are expected to go up again
lol wouldn't you just add it to your offset account and reduce the amount of interest you pay, that's saving money right there without spending it.
Ing interest at 4%, there's no get rich quick method. Just keep saving and buy a house.
He has a house.
In that case coke and stripper's
Onlyfans
I did this, I put it in the mortgage and can redraw it when I need to. Thanks mate.