What’s the best way to invest 10000 dollars today? is it good to invest $10,000 in stocks, real estate, gold or just use 10000 dollars to pay off your debt?
Want to know the best way to invest 10000 dollars? Is it in stock market, real estate investment, gold, education or you will just use 10000 dollars to pay off your debt? A reader of InvestmentTotal.com seriously asked a question what is the best way to invest 10000 dollars? I have an opinion in this question but I would rather ask my readers to collect information and share the best answer here. If you are from UK of course, the question for you is what is the best way to invest 10000 pounds (since your currency is Sterling Pound).
Benjamin from Oklahoma, USA asked;
“I saved almost $15,000 working as a full-time manager in one of the famous store in Oklahoma. I want to invest $10,000 and used $5,000 to buy what I want, just a simple rewards I want to give for myself. May I know what’s the best way to invest$10,000 today? Thanks!”
1st Option: Invest in Education
If I were you, try to spend at least 1,000 dollars to learn how does investing works. You can attend seminars, consult with a financial experts like CFP, buy personal finance and investing books. This way, you will gain more knowledge and you will use these knowledge when you’re investing money especially when you’re investing long term.
2nd Option: Buy Stock Shares
You can start buying stock shares. Select the best companies. Preferably, you should choose a company you are familiar with its products and services. And you should choose a company that you know it will still exist 50 years from now. Select stable company. Search the blue chip stocks in your country. Blue chip stocks are ideal to buy and hold.
3rd Option: Start a Small Business
Third, you can start a small business with small investment capital. Try to be an entrepreneur. Your 10000 dollars can be a good investment capital as a start up capital.
4th Option: Buy Real Estate Property
Fourth, in a 10000 dollars, one best ways to invest it is through real estate investing. Maybe you asked, how can I buy real estate properties worth $10,000? Try to learn how to flip a house. Use your $10,000 as your down payment. or use $8,000 as your down payment and the rest is to use for fixing the properties.
5th Option: Invest in Gold
If you’re not familiar with stock market, real estate investing or you don’t want to start a business, you can invest your $10,000 by buying gold. Gold is also a good investment.
I prefer to invest in education first, and then practice the knowledge I have learned. When I discovered investing, I read a lot of personal finance books. I didn’t invest. I make sure that myself is equipped with knowledge before I invest my money. As Warren Buffett said, “Risk comes from not knowing what you are doing.”. You have to learn how to invest and what are the risks accompanied in a certain investment vehicle. You have to know everything, if you want to succeed in investing, educate yourself first!
Let the readers share their ideas on what’s the best way to invest 10000 dollars. You can use the comment box below and write your ideas. Your investing ideas are highly appreciated. Thank you!