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/biz/ - Business & Finance

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976173 No.976173 [Reply] [Original]

Canada-fag here. I have 10k lying around in a shitty savings account at my bank (0.8% annual return) and I'd like to do some "fun" investing with it. Not gonna get into options or some shit because that's too risky, not going to let it sit in a Vanguard account cause that's boring + slow, but I'd like to use it to learn how to increase value.

What's my best option here? Should I just learn the stock market and invest there? Should I use it to invest in my own tiny startup in some easy niche? Any other suggestions? I'm currently a university student, tuition paid for by parents and scholarships, so I have a decent amount of free time, but not enough to focus on a business.

>> No.976196

throw it all in activision/blizzard.

you're pretty much gambling that Warcraft is going to be successful and there will be a series of movies/new series of movies from other franchises.

>> No.976198

Buy PETR4 stock.

>> No.976216

Buy low cost commodity stocks. Not highly leveraged companies, but companies that are large enough that they won't go bankrupt.

Bonus points if you find yourself a good dividend yield.

>> No.976289

>>976173

Do you live on your own? Do you have at least 3-6 months of living expenses in emergency savings?

This is priority #1. No point investing if you would need to potentially draw from the money if something happens. Even if your parents pay for most things, having the ability to be independent is nice.

I know you said tuition is paid for, but do you have any outstanding debts?

Generally you are going to lose more in interest than gain from investing, so taking care of any debts is important. While there are cases where you could gain more on investments than paying off debts, there is a great psychological benefit of being completely debt free.

If these conditions are met, then have you fully invested in any tax-free investment vehicles? In the US, Roth IRAs, traditional IRAs for retirement and HSAs (health savings accounts) are tax sheltered, which provide a huge benefit for your investments. I'm not sure how that works in Canada.

As much as you say mutual funds are too slow, assuming your young age, this would be the perfect time to get started. Should you consistently contribute you could have an amazing nest egg by retirement.

>> No.976745

>>976289
Yeah I've read r/personalfinance, no debts, not worried about emergency savings as I have a good relationship with my parents, who I currently live with. I have a weekly job that covers car insurance, gas, and fast food/entertainment fees, but I just eat at home/pack a lunch most days.

The reason why I want to do a "fun investment" over something slow and reliable for my retirement is because I see this as replacing a job. I have 10k from working online, so I think if I channel my autism to some sort of investing or business building, I'll be able to gain more useful and "scale-able" life skills than the shady shit I was doing to make money before.

Thanks for the detailed response btw

>> No.976750

>>976745
>The reason why I want to do a "fun investment" over something slow and reliable for my retirement is because I see this as replacing a job

Buy bitcoin then

>> No.976802

>>976750
I think he wants to make money, not lose it.