Where to invest some mad money right now......

[redgtxdi]

So.....bank pays nothing...(CD's, savings, etc.)
Market's at an all time high (arguably overdue)
I'm not a bond guy....but am open to suggestions.

Roughly $50K coming maturing out of a CD. Thoughts on where to put it now?

TIA

 

[VirtualLarry]

Buy a whole bunch of RTX 3080 cards, and start mining ETH?

Near-term, seems hella profitable. Longer-term, who knows? But doesn't seem to be an out-right UN-wise investment. You can always turn around and sell the GPUs, if mining doesn't work out the way that you want. You're unlikely to lose much money on the deal.

There's always Tesla, Apple, and AMD stock, I guess.

 

[redgtxdi]

Buy a whole bunch of RTX 3080 cards, and start mining ETH?

All your ethereum are belong to us

 

[Svnla]

Break the $50K into several reward checking accounts. You will have to do some work to earn the "high" interest rates but not too shabby. Unless you are not afraid to lose the money so just invest in stocks (your risk tolerance).

 

[sandorski]

Anger Management

 

[shortylickens]

Gamestop.

 

[bbhaag]

Put some of it in TSMC. Not all of it but a couple of grand would be a safe bet.

 

[Red Squirrel]

GameStop, AMC and Blackberry. To the moon! (I can't find the rocket emoji, this will do)

Seriously though, with that much money in hard cash, I'd just use it for something nice. Still have to live. Maybe put it towards a Tesla Cybertruck or something. Or if the house is not paid off put it towards that.

 

[dasherHampton]

If I had $50,000 that I didn't need and had to invest somewhere right now I'd probably put it into NIO and let it sleep.

I really think they're going to be the #1 EV company in China when all is said and done (many years down the road).

 

[thedarkwolf]

Well after my gamestop windfall I needed something stress free so I split the cash 1/3 Apple stock and 2/3rds ARKK ETF. The Vanguard Index funds are also pretty stress free, another good chunk of my money is in VTSAX.

 

[snoopy7548]

What's the rest of your portfolio look like? Long/short-term goals?

For starters, max out your (Roth) IRA for both 2020 and 2021 if you haven't already. That's $12k right there. Throw $30k into VTSAX and let it ride (if you don't need the money for 5-10 years), then take the leftover $8k and splurge on whatever you want.

 

[zinfamous]

Pot!

No, not the stocks. Buy a bunch of pot and flip it at your local high school.

 

[Brainonska511]

Slowly funnel it into an index fund to dollar cost average, in a hedge against the market tanking, or stick it in a municipal bond index fund for some tax free growth?

I've been using a MA bond index fund as a supplement to my "high yield" savings (which is maybe at 0.3%). Double tax free interest, and it's paying out at least 3-4x more per month than the savings account right now.

 

[ponyo]

I like keep it somewhere that pays 0%. Don't insult and pay me .01% interest. That's more paperwork and taxes for me. Pay me 0% on my cash. That's how I like it.

 

[ponyo]

dp

 

[redgtxdi]

Thanks for all the replies! (Pot at the local HS sounds like a plan!)

But seriously.....muni's sound good (I might give one of Vanguard's bond funds some play).

For background....I have no debt (been smart with my $ over the years and no I'm not rich). Small "other" investments I've made in the last year....

-Solar (I live in the land Edison so combined w/ diminishing Fed tax incentives, this as a no-brainer)
-Minor interior home improvements

It's literally just loose cash but that, again, is not making any money.

(I've even thought about 2nd property, but Covid has made land-lording a mess and I don't think I want to touch that)

 

[ultimatebob]

Hmm... I'm going to go with:

40% S&P 500 Index fund
20% Technology Mutual Fund, like FSPTX
10% High yield bond fund, like FAGIX
10% Cash
10% On "Moonshot" higher risk stock plays, like Tesla or Nio
10% Cryptocurrency (Like Bitcoin or Ethereum)

 

[Brainonska511]

But seriously.....muni's sound good (I might give one of Vanguard's bond funds some play).

If your state has an income tax, you could try to find a fund for your state. Otherwise, they offer one or two generic ones that will at least save you a little on federal taxes.

(I've even thought about 2nd property, but Covid has made land-lording a mess and I don't think I want to touch that)

Landlording always seems like a mess. If I want to invest in real estate, I'll buy into a REIT fund.

 

[Stopsignhank]

What we have done is to split the money into $10K portions and invested it in 5 different stocks. Kind of fun to watch. Target and Apple have been especially good for us. I think going forward the entertainment stocks are going to boom in a year from now. Once we are on the other side of COVID people are going to be going out all the time and traveling.

We are also at that stage in life where we are looking at dividend stocks. The dividend they pay is anywhere from 0.5% up to about 7%. Of course the price of the stocks may not boom like other stocks, but you do get a dividend.

 

[redgtxdi]

Indeed! I actually do hold VTSAX (based on advice here & motley fool from about 20 years ago) where I decided that was a best "long term taxable" investment for the kiddos. (And it has been)

I'll have more CD's coming due later & may do more VTSAX. May have some fun with individual stocks too. Entertainment stocks sound great but scary seeing as the world keeps killing future plans....(Halloween king John Carpenter just admitted the new movie which was already canned for 2020 may just have to go stream-only. Los Angeles County fair now cancelled for sure....which is in SEPTEMBER for crying outloud). Just not feeling great about 2021 entertainment prospects atm.

(Also just gandered at VCAIX but that puppy don't look so healthy right now either. Maybe all things equal, VTSAX is it)

 

[Dr. Detroit]

RCL & NCLH

Or just drop into an Ally account that earns 0.6%

Spend some of the cash while maxing out your 401K?

 

[Svnla]

RCL & NCLH

Or just drop into an Ally account that earns 0.6%

Spend some of the cash while maxing out your 401K?

It is only 0.50% for savings now.

OP needs to ensure that he would pay all debts with high interest then at least 6 months of salary as emergency fund then fully funded all retirement accounts, especially employer matched.

 

[brianmanahan]

coolcoin, obviously

 

[ultimatebob]

coolcoin, obviously

I'd sell him the whole lot of it for $50K!

 

[brianmanahan]

I'd sell him the whole lot of it for $50K!

that's the deal of a lifetime!