Where to put 15K?

[Brootal]

I am not sure where to really put this post but here goes:

I have been putting money aside for a while for when I am ready to start a business venture of some sort. The problem is that I haven't exactly figured out what I want to make a run at yet, and my money is just sitting in a bank account.

I am looking for advice as to a better place to have it right now, NOT actual investing "buy this stock or that fund" advice.

I don't need the money immediately, but will want it rather quickly when I am ready. Is my best bet to just leave it where I have it? It's at least a "high yeild" account if you will, at 3.5%

I would appreciate any advice. I can provide more details if needed to make a better decision.

Thank you!
​

 

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[kwerner]

Loan it to me!

Your money will be secured by real estate (as a lien against the property I purchase) and I'll pay you 12% APR.

 

[MJ DeMarco]

Keep it liquid for deployment. 3.5% is better than losing it. Remember, you aren't going to get rich saving a few bucks here and there at 3.5% unless you have 400 years to invest in that plan. When the time comes, invest it into your FL plan. Working capital is called "working" for a reason ... it works!

 

[ZDS]

Action. Don't keep it snug looking for that perfect business opportunity. It will never come. Find something and execute.

You are losing potential money keeping it there.

 

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[tchandy]

Keep it liquid for deployment. 3.5% is better than losing it. Remember, you aren't going to get rich saving a few bucks here and there at 3.5% unless you have 400 years to invest in that plan. When the time comes, invest it into your FL plan. Working capital is called "working" for a reason ... it works!

I would agree with MJ. Don't blow all of your money just because you have it. When the opportunity presents itself, you'll find a better place to invest the money. That's the time to invest it. Continue to research and do your homework.

Tom

 

[EastWind]

since you have no concrete ideas, leave it where it is, keep adding to it. but don't let it fool you especially since this might be the most money you might have ever had. after a while, it can get so big you become too scared to even spend a bit. picture this. imagine that you keep saving, it slowly keeps growing till it gets to $100,000. then, bam! you have an idea that you think might be worth chasing. will you risk that $100k? most people will not! at that point, they are so comfortable and proud of saving $100k. they will not risk even a small part of it.

 

[Brootal]

Thanks for all the replies.

Eastwind: you pretty much hit the nail on the head. I have been saving for when I "figure it out" but I am not sure when that idea is going to come.

I certainly was not going to blow it on anything, but have entertained the thought of doing something like kwerner suggested with some local investors. The problem was that they are not very liquid.

 

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[Strategy]

I might have a real good opportunity to for you that could make some real nice income if you got aim purebread334 or purebreadishere@gmail.com

the sooner the better. Thanks

 

[maximus20895]

^really...

 

[GlobalWealth]

In this case, I would put half into gold, GLD, and half into short term treasuries, SHY. This is essentially a cash portfolio with very high liquidity. By owning the GLD, you are hedging against inflation and by owning SHY, you are hedging against a strong dollar. This is not a high return option, but with only $15k, you need to keep it safe and liquid in case you need to deploy it to a business investment that can actually earn you money. I always recommend that anyone keep at least enough cash, or liquid assets, to cover their expenses for at least 1 year. Once you accumulate this amount of cash, then you start investing for return. It is a very comfortable feeling to have 1 year's worth of cash in your account in case you lose your job or your business falters.

 

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[LondonLife]

Don't tie it up anywhere. Keeping it in a high yield account with instant access is the only way you'll get it back exactly when you need it.

$15K is a good starting amount to get a website, domains etc off the ground so you'll be in a better situation than alot of people who are just starting out. The last thing a small business needs is high interest loans hanging over their head when they're in that make or break stage.

Let us know your ideas. There are alot of people here who can give valuable tips on marketing your compnay... so we may be able to help and give you that extra boost you need.

 

[EastWind]

actually, i'm surprised no one has said this.

but you should put it in YOUR FIRST BUSINESS. stop getting ready to start a business. you are just scared of losing it. even a failed venture is a learning experience. instead of starting something that needs $15k, find any idea that you can get off the ground with $1,000 and a lot of sweat equity. however, make sure you do put in 100% effort. if you went to vegas, and had $15k, you probably do gamble $1k without thinking! so just do it. put it in your first business. set a small goal and run hard with it!

 

[dfphoto]

15k is nice to have in case you get fired or an emergency comes up, I am self employed and last year I only made 15k vs 185k in 2007 in 2008 I got bit by a spider and tick and I was out of commission for 8 months. Still made 106k but you get the picture....

 

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[Smooth]

You could easily start a business for well under $15k. Just keep in mind that the key to start-ups is CASH FLOW MANAGEMENT! Just because you have $15k, does not mean you have to spend it all. In fact, in the early stages of any venture, only spend money on things that will yield an investment. Move methodically forward with a well-defined plan, but be prepared to deviate from that plan at a moments notice.

Good luck!