How would you invest $5000 right now?

I have US $5000 that I don't plan on using soon. Any ideas as to how I could invest this money now?

One Idea
I was considering purchasing some expensive software and use it to provide a service on Fiverr. If the software is expensive, I'll have little competition. Of course, I'd make sure the software has a money back guarantee in case I can't make any money on Fiverr. I don't know which software to buy though.


Thank you guys!
 
That is the perfect amount to start a Forex account with. In two weeks you could double it to 10,000 if you follow a proven strategy, have risk management and control your psychology.
 

redbeard

Hummingbird
Moderator
Please don't do this:

Jefferson said:
That is the perfect amount to start a Forex account with. In two weeks you could double it to 10,000 if you follow a proven strategy, have risk management and control your psychology.

Without knowing your personal financial situation, it's hard to say what would be a worthwhile investment.

Do you have any debts to pay off? If so, that's usually the best place to start, especially before you start investing, and double especially before you start trading.

From there, how much income do you have coming in every month? Do you want to make a career change, or become self-employed? If you can invest that $5,000 in learning a skill that will take you there, do that.

Don't even consider trading unless you're ready to lose the entire $5,000, and have reliable income streams outside of trading to help fund your account.
 

Vincent Chase

Kingfisher
Gold Member
Jefferson said:
That is the perfect amount to start a Forex account with. In two weeks you could double it to 10,000 if you follow a proven strategy, have risk management and control your psychology.

Much better chance he'll lose all of it.
 

debeguiled

Peacock
Gold Member
Buy T Bills or a T Bill Fund/ETF and keep putting money into it until you have one year's operating expenses socked away in case of sickness or loss of work.

Then start talking about investing.
 

The Grey

Sparrow
redbeard said:
Please don't do this:

Jefferson said:
That is the perfect amount to start a Forex account with. In two weeks you could double it to 10,000 if you follow a proven strategy, have risk management and control your psychology.

Without knowing your personal financial situation, it's hard to say what would be a worthwhile investment.

Do you have any debts to pay off? If so, that's usually the best place to start, especially before you start investing, and double especially before you start trading.

From there, how much income do you have coming in every month? Do you want to make a career change, or become self-employed? If you can invest that $5,000 in learning a skill that will take you there, do that.

Don't even consider trading unless you're ready to lose the entire $5,000, and have reliable income streams outside of trading to help fund your account.

He was joking lol

Best way to invest $5000 right now I reckon, is starting your own business.
 

SteezeySteve

Woodpecker
Save it for living expenses for when im at the point where i am almost self sufficent and ready to focus on my own business

Use the money to cover costs while that comes to fruition.
 

General Stalin

Crow
Gold Member
Depends on your situation.

If it were me and I had zero debt then I would simply put it away and use it as a stepping block to build a nest egg or a downpayment for some investment property. $5k isn't exactly a big enough sum of money to really invest in anything worthwhile enough to net respectable returns. If you don't have anything small and near-term that you could use that money on (paying off debt, doing some repairs to your car, straightening your teeth, whatever) then just put it away and add to it.
 

Jetset

Ostrich
1) Any debts?

2) If American, do you have a Roth IRA and what is your tax bracket?

3) What's your time horizon, meaning how long will you leave it before you might need to draw it down? This is an absolutely critical question.
 

Mig Picante

Woodpecker
liberlandio said:
I have US $5000 that I don't plan on using soon. Any ideas as to how I could invest this money now?

One Idea
I was considering purchasing some expensive software and use it to provide a service on Fiverr. If the software is expensive, I'll have little competition. Of course, I'd make sure the software has a money back guarantee in case I can't make any money on Fiverr. I don't know which software to buy though.


Thank you guys!

I am not suggesting that it's a good idea BUT if you were cemented to this idea.

1. Make the ad and see if you get any bites to gauge interest for your service before buying software.

2. Secondly, why use a platform that takes a cut of your money? Create your own site and advertise it yourself.
 
If you do use it to learn how to trade, I would still trade small (10% of your account in trades) and I'd count on losing just about all of it. trading is an incredibly risky way to invest

You should provide more information, such as how much risk you are willing to take, passive vs non-passive, etc.
 
10% of the account is a small trade? Don't you mean 2 or 3%?

If you open an account of USD 500 (not 5000) and you risk 2% you can make 35 losing trades and still your account is not wiped out. Nobody has a losing streak of 35 trades. Nobody. Not if they use a proven system.

Do the maths, calculate it in a spreadsheet. The numbers don't lie. 500 dollars, risk 10 on each trade, with 35 losing trades your account is not wiped out.

People lose their account because they don't calculate their stop loss properly. If you risk 2% per trade you won't wipe out your account even if you make 35 false trades in a row.
 

Mig Picante

Woodpecker
I recently saved 5k to invest and prefer individual stocks. I am starting to think it's not a big enough sum as you have to pay brokerage/transaction costs which eat into the yield. Instead I'm aiming for 10k. Looking at income stocks and intend to buy and hold for 5+ years, collecting the dividends while continuing to save.

Saving $5k is nothing to dismiss, but it's important to have all your financial habits sorted out first, lowered or removed all your recurring expenses/bills and have enough cash for an emergency/unexpected event so that you don't become a forced seller.
 

RatInTheWoods

Hummingbird
Gold Member
Pay off any debt you have.

Replace or repair any items coming up for mandatory replacement ie bring forward inescapable costs.

If you have any left, then that amount of money is best held at call as cash, as an emergency fund.

In the event of an emergency you don't end up homeless, without a car so you lose your job, or going hungry.

$20K is the minimum parcel I would consider investing.
 
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