The Best Way To Invest $5,000

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[miketeeveedub]

Young man: "How should I invest $5K?"
"Rich" Cooper: "Invest in my books and courses."
Young man: "So that'll make me a fortune?"
"Rich" Cooper: "It made me a fortune. Don't know about you." Drives off laughing in his Porsche

[mithicash]

Without watching first, best advice I can give you is find a hustle that you like or are good at and find out how to get it moving with that 5 grand. Continue to reinvest profits until it becomes a full time business. the hard part is actually finding something that really suits you that makes money.

[JasonAmir-qouo]

Investing in a luxury supercar like a Lamborghini can be an exciting but intricate financial decision. The value of these cars can appreciate over time, making them potential assets. However, maintenance costs and depreciation should be considered.

[YossiLavy]

Investing in yourself is the best way Well said Rich

[thdurgdhg]

Absolutely love it!! Although you can’t predict the future, you can prepare; the journey is not always easy, embrace persistence, patience and perseverance. Outline your goal and pull your efforts together to attain that goal. I had a fair share of struggles before diving into crypto last year. And let me tell you, it completely changed my life! So don't lose hope, my friend.

[iDX]

Guy who sells a course tells you to spend the money on buying a course.

[jboughtin]

I think the entrepreneur path can be valid if you have the drive, self-motivation and focus to see things through. It would probably be a good idea to get real with yourself upfront regarding your own personal strengths, talent, gifts, that sort of thing.

[claudefilion]

Excellent advice, bro. I'm 70 years old, and I find your advice highly relevant. Claude

[Astuga]

Realistically speaking: all depends on how old you are, how much money you already own and how long you project into the future.
For some 5.000 bucks are a security cushion stored at a safe place and never to be touched, in case you get sick or are confronted with other issues. Or buy gold or Bitcoin with it - when the prices are right.
For others it may be the start to get into another trade or job or get educated (or to finance it for a child of yours).
Maybe it's the boxing lessons you always wanted to take, learn another language, buy a new car before your old breaks down completely.
Whatever one does - get free from debt, dont waste it on woman and dont throw it out of the window just for fun.

[g-man]

If you have any installment debt at all - mortgage, car payment, student loan, etc. - use the full $5K to pay down the principal. If you are early enough in the loan, that's like a tax free return of 100-200% with zero risk.

Then pick your retirement date and the optimal fund mix of return and risk and max it out.

Then get a 0% credit card that pays cash out put all those excellent suggestions there and pay it off before interest accrues.

[wn]

Summing it up: Invest in yourself and make yourself better. Do the work.

[steventogami]

Buy an ETF like SPY. Mimics the S & P 500. Few money managers can beat the S & P 500. Put in on a regular basis to dollar cost average.

[paulsmith]

I put money into my 401k but only what my company will match. The rest goes into a money market or 500 index fund. Im 42. Should be able to retire with about 3 million. I make around 110k a year. Im not really talented to start a business but i find the best thing ive done is not waste alot of money on material things in the beginning so i could at least get some money saved. Im still waiting to buy a house hopefully in cash so i wont have anymore monthly high payments. Ive tried to cut out stupid things like car payments (i drive a car from the 90s) i got rid of cable still have wifi and stream stuff and keep zero credit card debt. All that stuff frees up alot if you can humble yourself and not try to worry about your image impressing people that you probably dont even like....my only recent bad money move was buying a puppet off of amazon when i was really drunk one night last year.

[Larrybird]

Advice for the book part. But them used on eBay. Instead of $250, it’ll cost you 50.

[DavidtheNorseman]

Heard and interesting - and I believe true from past experience - comment on courses. They have value in part because when you're completely self-taught you may not realize important things you've missed. Just vet them for success as not all courses are equal.

[trwilli]

If a 20 year old guy drops $5k into a Roth IRA and it grows at 10%/year on average, he will have over $440k by age 65. Not a bad investment IMO

[beerandbones]

invest another 5 or 10k into food, water, water filtration, obtaining skills, and precious metals like lead cus one day the whole things gonna come down and many people will die. However in the slight chance that that doesnt happen, ( you dont wanna live your life wating for and putting all your energy into preparedness, Live, enjoy but be smart) i agree with Cooper and i think that was good advice

[sharedsailing]

The follow up question is where are you in life? If you do not have a career, you should invest in education, training, tools, etc. If you are just starting a career, you need an emergency fund so put it in a high yield savings account. Are you going to need the money in the near future, want to save it for retirement, want to get ahead in life now, etc, etc, etc. There is no universal answer.

[MrAesir]

as an addendum to this if I was in terrible physical shape or just not fit to get some coaching /training in that area. you want to perform in the world you do better when you are in shape.

[costafilh]

Unless he is talking 5K/month, I agree with every word.