

Ask HN: What should I do with $10k? - geuis

Kind of reaching a new point in life. I (will) have some cash saved up soon. Looking for ideas...
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andymoe
Leave it in the bank/taxable account for a rainy day/opportunity/blood-in-the-
water scenario.

10K is not really enough to create a "Balanced" portfolio of stocks. You could
buy mutual funds or bet on a few stocks but that's not as valuable as having
10k sitting in the bank at the ready.

If you are not already, start automatically saving cash and automatically
contributing _something_ to an 401k/IRA. Pro tip - Make sure it's automatic
and the money gets saved before it hits your regular bank account. If you have
the opportunity to contribute to a 401k do that - especially if they match. If
you don't then get an IRA. [1] You could create one and stick 5k in there this
year and deduct it from your taxes and continue to build up that war chest
again.

Also, see if you are eligible for a ROTH IRA[2] instead of a regular IRA.

[1] <http://goo.gl/vFXKs> (All of you do this now!) You probably want an IRA
and a "Taxable Account" so you can buy CDs (and one day stocks)

[2] <http://goo.gl/EJIUS>

[3] I am not a professional financial advisor your results may vary etc...

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davidw
If you want to invest it in something besides yourself or your business, "A
Random Walk Down Wall Street" ( <http://amzn.to/fxzgVU> ) is a good read.

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briandoll
Agreed. And if you want the elevator pitch version instead of reading that
awesome-but-very-long book: "buy index funds".

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kirpekar
<http://www.daveramsey.com/new/baby-steps/>

Go step by step

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redredraider
Buy a guitar. Learn to play it.

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redredraider
I wouldn't spend it or invest or anything. Leave in the bank or a CD and just
feel secure enough to leave your job if you start hating it. The economy is
bad.

