Have $10,000, now what?

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#1128632 14-Sep-2014 22:11

if it's easy money I'd invest in the highest gains with highest risk. don't touch it till you're 35 ... could be a millionaire ... or lose it all

mattwnz

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#1128634 14-Sep-2014 22:16

The OP should really get financial advice from a registered financial expert.

AidanS

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#1128635 14-Sep-2014 22:22

mattwnz: The OP should really get financial advice from a registered financial expert.

Why would OP need that, when he's already been given this...

dcole13: kush, mushrooms, coke, all that stuff

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#1128655 14-Sep-2014 23:13

nakedmolerat: Pay off all debt and save the rest.

Man, I wish I could do that with just $10,000....!!!

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#1128658 14-Sep-2014 23:14

Unregistered: Am curious to know what thoughts yall have around making the best use of $10,000?

The person is a single male and working/renting in Auckland.

It's unfair that he should have $10,000 when other people do not. Give it away at once.

kiwirock

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#1128694 15-Sep-2014 01:53

insane:
Unregistered: No specific debts/goals/risk pref, just unsure what to do with it. A few of the comments look interesting...I guess the bank is safest?

Safe usually means low return on investment. If you're young and are earning good money then you can afford to be more risky with your investment, just like how you have split your kiwi saver up across the different funds (conservative, moderate, growth, balanced etc) , you have changed from the default right?

Yeah aand safe investments usually pay the tax and just keep up with inflation, little own the rise in cost of living. Money sitting in a savings account just keeps it's worth, it doesn't really gain anything.

If I was going to invest, it'd be property (insurable - shares not so much) or lithium, silver or healthcare. The world needs all of it to live, make medication and batteries, electronics and fix the aging population in hospitals.

Invest in something tangible, not a piece of paper you get in return that you hope won't disappear when something goes belly up.

If you want others to manage your money for you, mutual funds, banks etc... guess who gets rich from your investment? The banks can loan your pinga's out 9 times over and you know what they make on loans from other customers.

If you're ever interested in investing, I found Robert Kiyosaki a great read. Rich Dad Poor Dad, Cashflow Quadrant and Prophecy, great ways to breakout of middle class mindset.

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surfisup1000

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#1128743 15-Sep-2014 08:11

Unregistered: Am curious to know what thoughts yall have around making the best use of $10,000?

The person is a single male and working/renting in Auckland.

Listen up, friend. I have a rich uncle in Nigeria who recently passed away and I require 10k to release his estate of which I am the sole beneficiary and I'm willing to share half with just you, my good friend.

But seriously. Pay off debt first, as previously mentioned. Or, if they have a big expense coming up then use that instead of going into debt.

10k isn't a heck of a lot, and would earn around $7 a week in interest after tax in the bank.

Could take a gamble on xero shares. They are half the cost they were a little while back so are looking relatively cheap just now. I was even thinking about it, now the hysteria has diminished.

Or, wait until after the election and buy power company shares after a market dip. Buying after a dip and holding medium to long term can be profitable.

BTR

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#1128748 15-Sep-2014 08:25

turnin: Import something ( that you know a lot about)

Are you talking about importing something legal or illegal?

Spend half and save the other.

heylinb4nz

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#1128816 15-Sep-2014 09:41

pay off debt,

save the remaining half

spend the remaining half on a course (depending on his current employement)

robjg63

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#1128822 15-Sep-2014 09:46

Unregistered: No specific debts/goals/risk pref, just unsure what to do with it. A few of the comments look interesting...I guess the bank is safest?

Thats would be my call - but I am really dull like that.
$10k is a nice little 'buffer' to have for the unexpected things in life as noted elsewhere.
Silly to put it into anything risky.

Nothing is impossible for the man who doesn't have to do it himself - A. H. Weiler

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#1128827 15-Sep-2014 09:53

has the OP been back? looks like skycity has swallowed his $100,000 ... waitaminute, I thought he only had $10,000?

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pbgben

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#1128970 15-Sep-2014 12:45

Pay off debts (Im sure you would have done this already)
Convert to USD, withdraw in 1$ bills then replace shower?
Go on a decent holiday
Live the Bilzerian life for a day
Learn to fly
Buy an RV (Rip out the interior, add some work benches, water supply, gas, generator, glassware, bulk chemical supply) [Investment/High Risk maximum return]
Take a homeless guy shopping
Donate (Look into the financials first)
Adopt an African child
Buy a wife (Yup, its possible. Check for small print, some come with unwanted extras)
Setup a hosting company for NZ business, I've done some looking into this... its surprisingly profitable!

I could go on, but thats enough I think :)

$5USD 1GB RAM, 10GB SSD VPS in SYD

dcole13

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#1128972 15-Sep-2014 12:49

pbgben:

Adopt an African child

Buy a wife (Yup, its possible. Check for small print, some come with unwanted extras)

I could go on, but thats enough I :)

Forgot drugs

Home ADSL: School:

pbgben

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#1128974 15-Sep-2014 12:51

dcole13:
pbgben:

Adopt an African child

Buy a wife (Yup, its possible. Check for small print, some come with unwanted extras)

I could go on, but thats enough I :)

Forgot drugs

No, its covered :P "Buy an RV (Rip out the interior, add some work benches, water supply, gas, generator, glassware, bulk chemical supply) [Investment/High Risk maximum return]"

$5USD 1GB RAM, 10GB SSD VPS in SYD

Bee

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#1130061 16-Sep-2014 16:46

I once read an article about Bonus Bonds that stated that if you have $10,000 invested in it the odds are you will win some prize every month...

This is an experiment I intend to try if I ever have a spare $10K...

Doing your best is much more important than being the best.

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