Putting your money in a bank isn’t a smart move if you want to make money off it. In the US we’re a country that runs off currency, meaning we print it as we need it. By “we†I mean the Government. I believe most major countries are the same way (I could definitely be wrong). The old way (pre 1974ish??) our money was backed by gold. Meaning we only had as much money as we had gold. As we know scarcity = increased value. Now that we’re on currency our money’s value goes down each year. You know it better as inflation. It looks like things are actually going up in price but the reality it’s our dollars going down in value. So if you put your money in a bank you’ll watch your savings grow but what you can get for those dollars today isn’t what you could have got yesterday. Does that make sense? What you want to do is buy things that increase in value i.e. property, business, stocks, etc. Take the time to do a little research on these and you’ll make 150% greater returns than you would in some savings account, bonds, or CD’s. If you’d like a good book read “Rich Dad, Poor Dad†by Robert Kiyosaki.
The person renting pays off your mortgage, the house prices rise. Not much of a risk, house pricing in the UK, or London at least hasn't had any major drop for a LONG time, nor really have rent prices. Property is one of the safest investments you can make, especially with the population rise of this country.
I would use it to invest in stuff that would make me more money... of course..Id probably use it for a lot of other stuff to,but that a ways away..
I fully agree. But I'd say it's only safe if you do your homework first. Get educated...like anything else you put a lot of money into. The reward is unreal. If you put 100,000 dollars in a bank you get 4%-5% interest on 100k. If you put that into stocks you get XX% interest on 100k in stocks. But how much property can you get for 100k? In the US banks usually loan 90% of the value. So for $100,000 you can get a million dollar property. So you make your interest on one million. Not to mention if you're renting your tenants are paying down your mortgage for you. So if you study and learn this system you can make endless streams of cash flow! So basically for your original mil you can get 10 mil in property!!
If I was just given $1Million, and hadn't worked for it, I would put it ALL on Red and spin the roulette wheel and see what happened!
That's what they said about Japan. You cannot be risking less than a risk-free rate. It's called that for a reason. I didn't say real estate was risky; I said it was riskier.
I would invest heavily in mutual funds and a few online ventures.. then, I would propose.. but not until I've had....
Start an online payment processing service similar to paypal. Would need lots of money since the U.S. requires you to have a license in every state (50 states * 5-10K/state gets expensive quick).
Start a lot of businesses and make that money grow. Then take a vacation if I have some extra time. --Joe
never thought about it, perhaps i will donate it! or may be i will open some sports hub, a must need thing in india, else we will only be playing cricket though out our life
Buy my parents a home. I would put myself on the waiting list for the Tesla Roadster. Travel the world. Build some schools or support existing ones in third-world countries. Have an endless amount of fun!
Well If I have $1,000,000 than I would buy some stuff from internet, do some donations and rest will be use for my invetment plans.