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How to invest $10,000

gatoraus

New Contributor
Jan 18, 2019
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Hi all,

Just joined the forum. I’ve spent some time reading through threads and can tell their are a lot of successful people on here. Here’s my question to you guys:

What recommendations do you guys have for investing $10,000? My wife and I both work a 9-5 an enjoy our jobs (as much as you can, at least). I’ve been trying to figure out a way to invest some money. I am thinking something on the side to start and then see where it goes. I’ve read stories on here on people that are successful in real estate, e-commerce, starting companies, etc. We live in Tampa, FL and I would be curious to hear about what some of you did or would recommend to someone looking to dive into the entrepreneurial world. I am in the brainstorming phase right now and curious to hear some ideas to get the creative juices flowing.

Thanks for any input!
 
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Bekit

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That's a question that comes with infinite possibilities that COULD be good & viable... so I think anyone here is going to have more questions than answers. Thinking through these things might help you to get a clearer picture of what you want to do.
  • What are your skills?
  • What kind of background experience do you have?
  • How much tolerance do you have for risk?
  • How much sweat equity are you willing and able to add to your $10,000 to make it multiply?
  • Where can you provide value to people? i.e. what problem can you solve that other people will pay you for? What can you do better than what's currently being done?
  • Do you want an investment where you just buy something and it appreciates, or do you want an investment where you buy a business and it's on you to expand it into something far more profitable?
  • Are there restrictions or conditions or things that you would NOT consider as an answer? e.g. "I could make money drop-shipping, but I would hate my life if I did that," or "I have X health condition that limits the available options to me"?
  • How much experience do you have thinking big? Are you willing to start thinking big?
  • How much discipline, mental toughness, resilience, and grit do you already possess?
  • How good are you at identifying and overcoming any mindset issues that might hold you back from success?
Short of having answers to that, I'd just throw this out there:

You live in America.
You speak English.
You have two incomes.
You have the time to consider starting a side hustle.

That right there puts you ahead of like 99% of the world's population.

So just do a bit of research, pick something that interests you, get some experience under your belt, and grow from there.
 

Jaden Jones

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As said above, there are so many ways to go. $10000 is a good start to invest in options, see the big options thread on here if your interested. But $10000 is also enough to start a business or even buy a business. So it really is up to you. The first question would be, do you want to invest in stocks? Or do you want to invest in a business?
 

gatoraus

New Contributor
Jan 18, 2019
4
3
That's a question that comes with infinite possibilities that COULD be good & viable... so I think anyone here is going to have more questions than answers. Thinking through these things might help you to get a clearer picture of what you want to do.
  • What are your skills? Bachelors degree, background in sales, pretty intelligent guy but don’t have a handy bone in my body
  • What kind of background experience do you have? Above
  • How much tolerance do you have for risk? Don’t mind some risk. Looking to do something that can start to make good money and know risk comes with that
  • How much sweat equity are you willing and able to add to your $10,000 to make it multiply? Don’t mind afternoons and weekends but don’t have as much free time as I used to. Have a wife, 2 year old, and newborn
  • Where can you provide value to people? i.e. what problem can you solve that other people will pay you for? What can you do better than what's currently being done? This is what I’m trying to figure out and what is bogging me down a little bit. Not sure what avenue to go
  • Do you want an investment where you just buy something and it appreciates, or do you want an investment where you buy a business and it's on you to expand it into something far more profitable? Probably the first. I would even be open to a side business but nothing that requires me full time immediately. If it grows to that, then great but looking for either a purchase that appreciates or something I can do when time permits (evenings and weekends) to make some extra money
  • Are there restrictions or conditions or things that you would NOT consider as an answer? e.g. "I could make money drop-shipping, but I would hate my life if I did that," or "I have X health condition that limits the available options to me"? No, 29 yr old male so no physical limitations. Open to whatever.
  • How much experience do you have thinking big? Are you willing to start thinking big? Not much. Always worked in the corporate world. Make decent money and enjoy my job but certainly would like to start thinking about multiple streams of income and like the idea that in a few years it may grow to a full time deal just not in the immediate future.
  • How much discipline, mental toughness, resilience, and grit do you already possess? A good deal, I’m in sales (lots of cold calling) and have heard “no” plenty of times, had deals fall apart because my company had internal issues, etc. Just have to move on to the next one
  • How good are you at identifying and overcoming any mindset issues that might hold you back from success? This is something I will need to work on and is a lot of the reason I want to do research and hear opinions before diving into something. I want to feel very confident about my plan before jumping in
Short of having answers to that, I'd just throw this out there:

You live in America.
You speak English.
You have two incomes.
You have the time to consider starting a side hustle.

That right there puts you ahead of like 99% of the world's population.

So just do a bit of research, pick something that interests you, get some experience under your belt, and grow from there.

I went ahead and posted the answers above for anyone else that wants to chime in because I realize now that my first post was a little vague. I appreciate the response and questions. I have considered real estate but was curious to hear some other ideas people have had success with.
 
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gatoraus

New Contributor
Jan 18, 2019
4
3
As said above, there are so many ways to go. $10000 is a good start to invest in options, see the big options thread on here if your interested. But $10000 is also enough to start a business or even buy a business. So it really is up to you. The first question would be, do you want to invest in stocks? Or do you want to invest in a business?

Open to either but I don’t know a thing about stocks and I’m little intimidated by it. Did you invest in stocks? If so, did you just read some books or take classes?
 

Jaden Jones

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Open to either but I don’t know a thing about stocks and I’m little intimidated by it. Did you invest in stocks? If so, did you just read some books or take classes?

I started with stocks and moved to options, I was also intimidated. I did lots of reading and had a practice account for over a year before I moved to real money. The options thread in this forum is amazing, there is lots spelled out for you. But honestly I would just get a practice account and start. Even though TOS gave me $100,000 in a practice account, I only used $25000 of it to reflect what I actually had, so I could see the real profits or losses. A year is probably a little crazy, but it was when I was younger and could not afford to lose that $25000. 3 Months of solid practice and reading would be good I think, but its really up to you. Buying a business would be reading and studying as well, so it really comes down to what do you most want to read about.
 

gatoraus

New Contributor
Jan 18, 2019
4
3
I started with stocks and moved to options, I was also intimidated. I did lots of reading and had a practice account for over a year before I moved to real money. The options thread in this forum is amazing, there is lots spelled out for you. But honestly I would just get a practice account and start. Even though TOS gave me $100,000 in a practice account, I only used $25000 of it to reflect what I actually had, so I could see the real profits or losses. A year is probably a little crazy, but it was when I was younger and could not afford to lose that $25000. 3 Months of solid practice and reading would be good I think, but its really up to you. Buying a business would be reading and studying as well, so it really comes down to what do you most want to read about.

That is really good info. I appreciate it! If you don’t mind me asking, what types of returns did you see? Did you do pretty well with it?
 
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jesseissorude

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What recommendations do you guys have for investing $10,000? My wife and I both work a 9-5 an enjoy our jobs (as much as you can, at least). I’ve been trying to figure out a way to invest some money. I am thinking something on the side to start and then see where it goes.

I love it.

But I wouldn’t spend a single penny until you make $1000 on your own.

Grow using your customers’ money, not yours.

You’ll know when you’ve found a viable side-business when you’ve made that $1k.
When you reach that point, you’ll know exactly what the business needs to grow, and I wouldn’t hesitate for a second to dump the 10k where it needs to go.

Test your ideas. Fail fast and CHEAP. Once you find something that’s working for you, then you can invest with confidence
 

Rabby

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I live in Tampa too, hi!

There's no right answer to your question. Personally, I invest in developing my own products and services. For me that has a good return. Other "investments" I make are really speculations. Stocks, private startups, and occasionally futures options. They would be dumb if I needed a fixed income by a certain date (like a retirement supplement), because there is no guarantee, and little certainty. But they make sense in my case because of my risk tolerance and other life choices. What should you invest in? There's no way I can answer that. Nobody else can either.

If you want to get into real estate, I recommend going to one or more Creative Real Estate Exchange meetings and watching and listening. You can absorb a lot there. I have not followed in the footsteps of most of the investors there (residential RE), due to being addicted to product development. They're fun though... you'll see all sorts of non-money things being traded for real estate, mostly bread and butter rental houses. You'll learn something regardless of the type of investing you get into. Anyone can show up.
 

Private Witt

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I love it.

But I wouldn’t spend a single penny until you make $1000 on your own.

Grow using your customers’ money, not yours.

You’ll know when you’ve found a viable side-business when you’ve made that $1k.
When you reach that point, you’ll know exactly what the business needs to grow, and I wouldn’t hesitate for a second to dump the 10k where it needs to go.

Test your ideas. Fail fast and CHEAP. Once you find something that’s working for you, then you can invest with confidence

This is spot on man! Making that $1000 is very satisfying and a good place to be if you have 10k to dump into it.
 

Jaden Jones

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That is really good info. I appreciate it! If you don’t mind me asking, what types of returns did you see? Did you do pretty well with it?

I can safely see about 40% a year. I can really push this up if I spend some time and focus, I tried for a month to see what I could achieve when I really focused and was able to 20% for the month (240% per year). However it took a lot of focus and made me quite anxious all month as it was basically day trading. Most people should be able to spend a minimum amount of time per week and make about 25% a year. I would start selling credit spreads or puts, as these are the easiest to understand and generally the safest.
 

Andy Black

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I wouldn’t spend a single penny until you make $1000 on your own.

Grow using your customers’ money, not yours.

You’ll know when you’ve found a viable side-business when you’ve made that $1k.
When you reach that point, you’ll know exactly what the business needs to grow, and I wouldn’t hesitate for a second to dump the 10k where it needs to go.

Test your ideas. Fail fast and CHEAP. Once you find something that’s working for you, then you can invest with confidence
This.

I’d keep the money safe and get scrappy learning how to add value , get paid, and turn a profit.


Imagine two beloved nephews came cap on hand.


One would like to borrow 10k to learn how to do day trading.


The other nephew has been selling car mats from his eCommerce store for 7 months. He’s got spreadsheets showing a bumpy start but continued growth now.

He’s been spending money on Google Ads, Facebook Ads, and content marketing / SEO. He’s focused now on Facebook Ads because that’s where he’s getting a better ROI.

He can’t expand as fast as he wants because of cashflow, but has worked out that his visitor-to-sale-rate from his Facebook Ads is 4.7% and he can tell you his ROAS.

He’d like to borrow 1k to increase next months Facebook Ad spend, and if it goes well he’s hoping to get to 5k/mth ad spend very quickly.


Who are you more tempted to lend the money to?


(PS: I don’t do eCommerce so that’s just a made up example.)
 

Harbourmaster

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Before spending any the $10,000 I would spend $50 and buy the two books featured on this site The Millionaire Fastlane and Unscripted . Read them front to back, then back to front, then read them again. Become familiar with the concepts, the methods and the goals within them. Know it inside out. And while you’re doing this keep an ear out for people speaking about their problems and annoyances. Ask them probing questions. Figure out if you can potentially solve their problems and add value to their life. Don’t try to figure out what business to start with $10,000 instead listen to the world around you and offer a valuable solution to the market. You’ll be rewarded.
 
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Jaden Jones

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i would say put it into an high interest savings account and dont touch it until you have reached your mark on what you are saving for.


This is pretty much the second worst thing you could do.... The first being under a mattress...
 

socaldude

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Every so often we get a thread like this.

It's really not worth your time to try to get 5% off $10k.

Yes, you can put it into options but it's very easy to make mistakes if you are new.

Your best bet is always to start a business with it.

Get into a market. Get to know it and you will spot opportunities.

Start asking yourself things like:
-How much money is moving through this market?
-Who are the participants? The buyers and sellers?
-How do the buyers and sellers behave or make decisions?
-Can I predict buyers and sellers decisions?
-How can I make life easier for buyers or sellers?
-What is the most important thing to know in this market?

Most are stuck because they just don't put the work in to be self-aware or to understand markets well enough. Opportunities don't just pop into our heads we have to do the work to be aware and immerse ourselves into these kinds of things.

If you are still stuck and you can't break into a market as an entrepreneur you will probably have to start out as an arbitrager. Buy something cheaper in another market and introduce it into another market.
 
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MHP368

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Hi all,

Just joined the forum. I’ve spent some time reading through threads and can tell their are a lot of successful people on here. Here’s my question to you guys:

What recommendations do you guys have for investing $10,000? My wife and I both work a 9-5 an enjoy our jobs (as much as you can, at least). I’ve been trying to figure out a way to invest some money. I am thinking something on the side to start and then see where it goes. I’ve read stories on here on people that are successful in real estate, e-commerce, starting companies, etc. We live in Tampa, FL and I would be curious to hear about what some of you did or would recommend to someone looking to dive into the entrepreneurial world. I am in the brainstorming phase right now and curious to hear some ideas to get the creative juices flowing.

Thanks for any input!

I vote home painting company. Run ads on places like homeadvisor for earpy clientel and just systemize and delegate that bad boy.

So thats my shooting from the hip proposal for your 10k
 
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Harbourmaster

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I vote home painting company. Run ads on places like homeadvisor for earpy clientel and just systemize and delegate that bad boy.

So thats my shooting from the hip proposal for your 10k

Whaaaaa?? How in the world is this helpful advice?? We don’t know if there is 100 other “home painting companies” in his area. We don’t know if he is physically able to hold a paint roller or be on his feet all day. This kind of advice is the exact opposite of what he should do. He should start looking around him for opportunities where he can add value. Test the market. See if people are willing to pay him for the value he is offering with real money. He should make sure that his business model follows the CENTS framework. $10,000 can disappear extremely quickly if he just randomly chooses a niche out of the blue.
 

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