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22 and I have 100k in the bank, but really not sure what to do with it.

D

Deleted78083

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This pretty poor advice. Money is a tool, a tool you need to build most businesses. If you have a hammer and nails, you wouldn't ignore them and try to build a house without using them. You would pick them up and start to learn how to use them effectively to build the house.

Yeah, you may need 2000 or 3000 dollars to start, but not a 100 000. And investing such a hard-spared money into a business that will most likely fail (because who doesn't fail the first time) is such a waste of potential. However, building a business with nothing teaches important lessons and having 100 000 in the bank assures some sort of financial security net.

In any way, it seems we are all very enthusiastic and knowledgable when it comes to spending someone else's money, something i am the first guilty of.
 
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Bruno Calisso

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If I got that I would not touch it. I would just start a $100 business and grow from there. Failed? Repeat, it's only $100, you can try dozens of startups with this strategy, gain experience and be safe. If I couldn't make money after starting 10 small businesses I don't think I would make money with higher investments. Just be smart, start small, invest on reading and learn new skills.
 

Sanj Modha

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Stupid advice from a bum that sells online marketing services.

There's tons of companies that have started with under $5k, create something of your own and don't touch the cash. Keep it tucked away for now.

Listen to the guy with a fake profile. He's totally legit.
 

P3HSB

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Here is what I think you should do

$10,000 to start your Fastlane Business
$70,000 in the stock market
$20,000 should be stashed away in a high interest yield savings account
 
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PapaGang

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amp0193

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If you're scared of blowing your money away, you can always start a business from scratch with as little money as possible.
Then you can invest your money once you know for sure that you can be profitable.

Second this.

100k can disappear much quicker than you can imagine.

Set aside 10k or less to start a business, and keep the rest in reserve.
 

PapaGang

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Second this.

100k can disappear much quicker than you can imagine.

Set aside 10k or less to start a business, and keep the rest in reserve.
^ Third this. Twice in my career I had an idea for a business and got my first sale before I even spent a dollar. One of those sales was for 5 grand. I didn't even have a company name.

It isn't the money, it's the idea that counts.

You're lucky you have that kind of cash. It's hard to obtain, but easy to spend.

Also, if you are looking for someone to provide some feedback on ideas, I'll offer some of my time. I have made a lot of mistakes so I have excellent information on what not to do.
 
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Lyinx

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^ Third this. Twice in my career I had an idea for a business and got my first sale before I even spent a dollar. One of those sales was for 5 grand. I didn't even have a company name.

It isn't the money, it's the idea that counts.

You're lucky you have that kind of cash. It's hard to obtain, but easy to spend.

Also, if you are looking for someone to provide some feedback on ideas, I'll offer some of my time. I have made a lot of mistakes so I have excellent information on what not to do.
^fourth this
If you can use 50k to buy into an existing business, that might be one way of doing it (honestly, that would be my personal pick as I already own a small share in the company that I work in, but would gladly buy another 50k if I'd have the money)
 

Lyinx

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^fourth this
If you can use 50k to buy into an existing business, that might be one way of doing it (honestly, that would be my personal pick as I already own a small share in the company that I work in, but would gladly buy another 50k if I'd have the money)
I can't stress this enough, if you are already part of a business, you know much more about it than anyone outside the business. And you can influence decisions from the inside.
If you like the business that you work at, ask the boss if he'd be interested in having you buy a small part of the business?
Put in 5K for 6 months and see what kind of return that you get. If returns are good, then put in another 45K.
Put the other 50K towards another business somewhere else (don't put all your eggs in one basket)
 

fastlanedoll

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^ Third this. Twice in my career I had an idea for a business and got my first sale before I even spent a dollar. One of those sales was for 5 grand. I didn't even have a company name.

It isn't the money, it's the idea that counts.

You're lucky you have that kind of cash. It's hard to obtain, but easy to spend.

Also, if you are looking for someone to provide some feedback on ideas, I'll offer some of my time. I have made a lot of mistakes so I have excellent information on what not to do.

I'm interested too :D

May I know more about the business where you made a sale even before you invested money?

Thanks!
 
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Lyinx

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I'm interested too :D

May I know more about the business where you made a sale even before you invested money?

Thanks!
I'd also love to know what PapaGang does/did.. but I'll take a guess.

The reason?
you need to learn to think for yourselves, if you're always copying other people, then you won't make it.

Did you hear that there are people having problems with rats right now? due to the pandemic, some stores are closed and animals that usually lived the high life are now struggling.
this is a pain point for the store owners/restaurants as they will chew through the wires and possibly valuable goods.

If you need work - put out an ad on facebook, showing what happens when rats infest a store. and then mention that you can come out and get rid of them for the customer.
You would commit to coming out on-site twice every week until they tell you to quit coming.
You would get a downpayment of $500 up-front and then batches of $500 every month or so.
then you go and buy rat poison and rat traps, and start coming out to sites twice a week.

Do you think that you can visit 5 locations every day? twice a week?

Working 6 days/week, and visiting twice a week, lets you visit 15 stores and keep visiting them the whole time.

If you charge $500/store, that comes out to $7,500 per month (before deducting expenses)

Here would be my top guesses:
1. Website design
2. re-roofing a house
3. extensive repairs on a vehicle
In all of these cases, a need was present and the customer needed someone to take care of it.

All you need to do is go out there, and look for a need.
 

PapaGang

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I'm interested too :D

May I know more about the business where you made a sale even before you invested money?

Thanks!

I had a professional colleague that learned about my new business service, and it was something that filled a need that his company had at the time, and thought that my service would lead to more sales.

So I sent a proposal for 5 grand and got the sale.

The digital asset I built for them went on to earn them over 2 million in a two to three year period. That's additional top line revenue. I'm not sure if he's on the forum, but he has read MFL and might be lurking around here.

The point is: your skills + your connections + value producing idea = money
 
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PapaGang

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I'd also love to know what PapaGang does/did.. but I'll take a guess.

The reason?
you need to learn to think for yourselves, if you're always copying other people, then you won't make it.

Did you hear that there are people having problems with rats right now? due to the pandemic, some stores are closed and animals that usually lived the high life are now struggling.
this is a pain point for the store owners/restaurants as they will chew through the wires and possibly valuable goods.

If you need work - put out an ad on facebook, showing what happens when rats infest a store. and then mention that you can come out and get rid of them for the customer.
You would commit to coming out on-site twice every week until they tell you to quit coming.
You would get a downpayment of $500 up-front and then batches of $500 every month or so.
then you go and buy rat poison and rat traps, and start coming out to sites twice a week.

Do you think that you can visit 5 locations every day? twice a week?

Working 6 days/week, and visiting twice a week, lets you visit 15 stores and keep visiting them the whole time.

If you charge $500/store, that comes out to $7,500 per month (before deducting expenses)

Here would be my top guesses:
1. Website design
2. re-roofing a house
3. extensive repairs on a vehicle
In all of these cases, a need was present and the customer needed someone to take care of it.

All you need to do is go out there, and look for a need.
^^ yep.
 
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Lyinx

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Did you read my owl post :rofl:
No, but sounds like a good idea... I'll have to read up on it.
Follow up sales, a month later, ( Do you have problems with Owl poop? get our xxxx company to come clean up for you) you get them coming, and going...

Additional followup: problems with owl cleanup guys stealing furniture from your store while they clean? hire our security services!
 

DiamondDog

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Start a business with 5 - 10k and see where it leads. If you see the business growing them pump some more money into it to speed up growth.

If it fails, well, try to break even and try another biz. You probably won't get it right the first time but with that much money in the bank, and being 22, you have a pretty good safety net.

Forget about investing passively if you want to multiply your money tenfold.

You should provide a little more info about yourself such as university studies and skills. Perhaps getting a job and some real life experience would be beneficial.
 
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goodleader

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Some real estate, some ETF, and some for your personal development like travel once this all clears up and courses online through universities or colleges.
 

sparechange

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Get one of these and start an Instagram page. Instant millionaire status :eek:
 
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lomb

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View attachment 33766

Get one of these and start an Instagram page. Instant millionaire status :eek:

Finance it and while your at it buy yourself a gold Rolex and a beach holiday, then you know youve made it until you go bankrupt and end up on the sidewalk..

If I had 100k at 22 I would likely lodge it in a savings account. The stock market is risky at the moment who wants to invest in the current crisis losses of 40-50% are possible if everything turns to crap. Long term interest rates are near zero on the markets so inflation doesnt look like an issue for a few years.
As advised dont go out and sink 50 or 75k into a business unless its low leverage low risk real estate.
If you did nothing for 10 years the 100k would still probably be worth 100k in my opinion. I dont buy the inflation line with automation and coronavirus. Many countries have sold 10 year bonds at negative interest rates, even 100 year bonds are being sold at less than 1%. Real estate can yield 7% if you leverage it you could get more cash on cash but the risk increases if its not cashflowing for some reason. Stockmarket could also yield 7% over the long term but you could be stuck if it crashes for a few years.
 
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