7 Ways To Invest $10,000 In 2024

Lets discuss 7 ways you can invest $10,000 in 2024 - and how you can best maximize your money, enjoy! Add me on Instagram: GPStephan

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FIRST: Use some of that money towards an Emergency Fund
This the money you set aside to ONLY be used in case of…YOU GUESSED IT…. an emergency, where you have no other option to turn. Ideally, the size of this fund should equal anywhere from 3-6 months worth of your expenses, and kept easily accessible….for emergencies. Lets say you lose a job, your car breaks down, or some other “emergency” happens and you need money…this is where you get it from.

SECOND: Pay down high interest rate debt
When you have high interest rate debt…paying DOWN that debt is like getting a guaranteed return on your money at whatever interest rate you’re paying down. So paying off a 20% interest credit card balance is like getting an immediate, guaranteed 20% return on your money - without ANY risk whatsoever.

THIRD: Retirement accounts
-Roth IRA
This is a retirement account where you can contribute and invest after-tax money, and then all of the profit within that account is COMPLETELY tax free after the age of 59.5. You’re able to open up one of these accounts and deposit up to $6000 PER YEAR if you’re under the age of 50…and if you’re over 50, you can contribute $7000 per year.
-Traditional 401K
This is an account that you invest PRE-TAX money into, and then you’re taxed when you begin withdrawing the money after the age of 59.5. Now, unfortunately, the “catch” here is that you end up paying taxes when you take the money OUT of the account in retirement…so it’s not exactly a “Tax free” investment.
-HSA Health Savings Account
This account is specifically used to pay any out of pocket medical expenses or charges that you incur…if you don’t use them one year, that’s fine, it all rolls over to the next year.

FOURTH: Low Risk Low Reward: High Interest Savings Account, CD, Bonds
First, a savings account is the most obvious choice - and there’s no shortage of high interest, online savings accounts that’ll pay you above 1.7% annually.
Second, if you KNOW for sure you won’t be needing the money for a specific amount of time - you could look into putting your money into a CD, which will give you a slightly higher return while you continue saving.
And third…if you want to take a little more risk with your money, but still keep it fairly safe…we have Bonds.
A bond is basically just an IOU from a government, state, city, business…and again, most bonds are relatively safe.

FIFTH: Index Funds
An index fund is basically just an investment that tracks the overall market, and you’ll get to own a small amount of everything in one fund, for a low price. For MOST people watching this video…I’d probably recommend this route, because it’ll be your best risk vs reward in terms of how much money you’ll be making.

SIXTH: Individual Stocks
This is, by far - the riskiest from everything I’ve discussed - but, the payout potential could be much larger. This is because you’re placing a significant portion of your money within only a few specific companies, and your entire investment is dependent on those businesses doing well…so if you have a knack for picking stocks, and NOT trading emotionally…then it may work out for you.

SEVENTH: Real Estate
You could potentially buy a property up to $100,000 or so, and then rent it out. That could make you money in so many different ways, not to mention the tax benefits you’ll get of being able to write off all of your expenses, the equity you’ll gain by paying down the mortgage, and the potential appreciation of the building over time. All of which could increase your overall return dramatically.

*Not Financial Advice ;)

[al-b]

For an easy reference, here's what he covers in the video :)

1:24 1. Create an emergency fund in an account with at least 1.7% interest
3:24 2. Pay off any high-interest (4.5%+) debt you have
5:20 3. Retirement accounts (1. Roth IRA, 2. Traditional 401K, 3. HSA)
10:33 4. CD / Savings / Bond
13:04 5. Index Funds
15:15 6. Individual Stocks
16:35 7. Real Estate

[KRYPTOKINGGAMING]

Why am I watching this, I have like 5 Dollars.

[ilyesbenmoussa]

0:06 lol my guy didn't even bother remake the video, he just changed the title to 2021 😂

[TheDudesterism]

When he said “taxes make me very sad”.
I felt that.

[johndeopaduaART]

This comment is strictly for the youtube algorithm

[dimitri]

"In case a recession comes by"😂😂😂 this was on point

[TheRealGuywithoutaMustache]

I’ll invest $10, 000 into iced coffees

Sounds like a plan, right?

[aarin]

You are obviously hiding a funny haircut.

[leahmolly]

When you invest, you're buying a day you don't have to work

[duncanbannon]

*When Graham uses the same compound interest calculator as you do*

Pure joy

[isaacrurengo]

Any youtuber who educates me, inspires me and builds me, I in turn like their content, subscribe and share with at least 5 people that I care about. You sir fit this part

[benscott]

Success is about focusing Your energy on what creates results and using what you already know

[sarahhandler]

Every time you want to spend money, turn around, go home, and turn on one of these videos so Graham can tell you why you shouldn’t

[bubu]

Graham you should make a video on how interest works on credit cards. I find that a lot of people have the wrong idea on how it works (used to be me). Definitely would help out a whole lot of teens. GREAT VIDEO BTW

[wilsonsheldon]

I made my first million during a self acclaimed foreseen crash, what i can say to early investors is diversification and solid management. I Reserve much gratitude for Jane Marie Kunak my humble advisor.

[strcrackedgg]

Anyone else excited that a “BUT GRAHAM!!!” Segment!!!?

[VegasLyfe]

I'm 29 and you have changed my life thank you been with you since 60k follow

[jesbensommichael]

Great video. We all strive for financial independence and better life. It’s not difficult in achieving this through the right investment, living frugally, and budgeting. I’m glad I learned early in life to work hard for financial freedom

[marissaf]

graham has had such an impact on my life, i have saved so much money! i now snort crack instead of cocaine because it is much cheaper. thank you, graham.

[charlottewick]

Graham, my generation rarely listen to young people for their advice. That has changed for me. Because knowledge is increasingly in such a rapid pace, your generation is able to absorb it and apply it quicker than mine. I find you intelligent and well spoken. I adhere to your financial principles and it’s has yield great results.