correction: Ontology
correction: Ontology
FinanceQ wrote:
SF k CG bfk wrote:
any savings up to at least 3 monthly wages are left as cash reserve with immediate availability. The washing machine might break tomorrow.
6k is "nothing".
I already have 3 months saved up (this 6k is in addition to that, and other savings)
...and I don't own a washing machine
I would definitely buy a washing machine if I was you. Also a dryer.
$5,500 Roth IRA
$500 on blow or Nike shoes
A serious response - If you definitely need the money 6 months from now, and do not need it until then, either invest in a vanguard money market fund (VMMXX for example), or if you have a brokerage account already set up, buy 6 month treasury bills - which yield ~2.1% and are exempt from state tax (but not Federal). Just choose a maturity date that falls before the day you need your money, and the money will be deposited back with interest.
You want to squeeze out as much return as you can, without taking any risk (i.e. no crypto currency or nike's). Is $63 extra dollars something to get crazy excited about - no, but would losing a chunk of it be a big set back - it sounds like it.
Marijuana will legalized in Canada this summer. Buy stock in a couple weed companies like CANOPY GROWTH (TWMJF) and
GW PHARMACEUTICALS (GWPH ). You can do this via a normal brokerage account through a company like Charles Schwab. Should see a nice bounce in 6-mos time. All totally legit and legal. You're welcome.
Buy 24 pairs of Nike Vaporfly 4% when they are back on Nike.com. Relist on ebay for $449 each.. boom.. $10,776. Which means, about $6500 after the eBay fees.
But cryptocurrency. Maybe split between Bitcoin, Ethereum, and Litecoin as those are the safest. 6 months you might double your money.