I have 30 grand. What should I do with it?

[puporing]

I was a bit hesitant to share this but depending on the market you're in, 30k might be enough for investing/downpayment in a rental suite. That is if after assessing risks you see a potential for positive return on it. You'd want to have backup cash in case it doesn't rent out/sits vacant. So this advice is only really good if you're in a decent market with not already over-inflated prices.

[thibault]

On 5/2/2022 at 2:36 AM, benny said:

@Leo Gura What's wrong with that?

Unless you inherited or something, you worked hundreds of hours to save up that money. It takes probably 1 hour per month to manage your money yourself. There is no additional insider information that will become available to you from having someone manage your money, all they will do is standard things you can read in any book about investing. If they had insider information, they wouldn't be working for an investment firm, they would own an investment firm.

All you are doing when you hire a manager is meeting the most opportunistic and greedy people in the world with a big sign on your forehead that says "take my money". I would not be surprised if you are paying ~25% of your gains in management fees. You are essentially choosing to go through a middleman because you are too lazy to educate yourself financially.

[BuddhistLover]

• @benny get a better job.
• save money

Edited May 10, 2022 by BuddhistLover