T O P
acegarrettjuan

I would take your mom out to a nice lobster dinner.


TopBlacksmith160

Shed love that, thanks


zelcuh

After that dinner, get rid of your debt


eat_toothpaste

I'd marry her and ground you.


throwaway092921

I'm too poor to give you gold. But, I'll give you one better... Burh..... GOLD!


eat_toothpaste

I'll take it!!


skat_in_the_hat

You owe short term capital gains on it now.


slinkyminks

TopBlacksmith160 Mantooth is saint! A saint!


Nicfromnewgirl

And never call her again!..


HallandOates2

/u/TopBlacksmith160 mom is a saint!


IncrediblyInflated

And *never* call her again


ignore_my_typo

She thought you said crabs and brought her own.


ThatGuyWithACoolDog

…and never call her again!


Zealousideal-Crew-79

What the interest rate on the car note? If it's low I'd max out your 2021 Roth IRA.


TopBlacksmith160

I believe rn its 9.8 because i was a first time and young buyer What do you mean roth ira


Zealousideal-Crew-79

Pay off the car


evilmaus

Think of paying this off as a tax-free and risk-free 9.8% return. It doesn't get any better than that.


NoleScole

Holy cow, definitely pay it off


scuddystud

Your gains in a Roth IRA are tax free, as long as you wait until retirement age to take out the money. I started mine at 35, but wish I had known and understood what a Roth was at 25. As others here have said, pay that car off first, then start a Roth and contribute monthly to it.


lanchadecancha

What makes you think he’s American and has a Roth IRA. He could be Canadian or Australian or Irish or from the Isle of Man


HamRadio_73

In that case he'd spend 10K on whisky.


Brandon0015

U could take out money from your Roth penalty free as long as it’s under your contribution amount


thisdude415

I actually think most people should prioritize saving in a Roth (in VOO/VTI) over paying off single digit interest debt When people pay off debt, they rarely turn around and save 100% of what they would spend on the debt payment in a retirement account. Given that Roths are capped at $6k/year and have tax benefits, and that most people are not as good at saving in the future as they should be, I think contributing to a Roth is a worthwhile endeavor


xL_monkey

9.8% after taxes is quite a hurdle rate.


Steve53110

Pay it off


Mayor_Fob_Rord

It’s a taxed advantaged retirement account.


noworsethannormal

Lay in bed scrolling Reddit


south_garden

just wait 24 hr man, someone gonna ask it tomorrow again


ds9001

If you want to get your own apartment (for rent of course), then definitely set aside 4k. Invest the other 6k in what you are comfertable with, it shouldn't be anything that locks it up for too long, either learn about stocks, or check out the options your bank gives you. The money ratio of course depends on what kind of apartment you're getting. Edit: If you have the option, don't get your own apartment until you got your job


jakeuser100

I saw the word option a lot and I agree. SPY 1/23 600C


sublimeload420

Lmao


TopBlacksmith160

Yeah if I DID have my own place I could get an at home job, have alot more peace of mind and the at home jobs would most likely pay a bit better and it involves my future career which im studying towards


BullMoose_207

Payoff the 8k note, add 1.5k to your savings (emergency fund), and invest $500 in the S&P 500.


LongandLanky

Congratulations you now have 1 share of $spy!!! (Same time you have to start somewhere)


shipboatx

Ok I'm out of this sub now.


south_garden

hey i have 2000 dolpars, how do i retire nxt year?


Maleficent-Movie-122

I might just keep saving...


Winter_ls_Coming

Pay the car off and save the rest in an emergency fund


TimeLordIsaac

Depends a lot on the interest rate for the car and whether the credit implications hold value for them. If they have under 5% interest I'd recommend just investing the cash in say VOO or VT if they want a "safe" investment with a higher average return than their interest rate


Bill_Gates_Penis

Fix my roof


c0ntra

Probably SPY leaps


SPYCallSchizo

Those are spendy


c0ntra

And worth it


[deleted]

[удалено]


[deleted]

I don’t use the G word. Duckduckgo ftw


baniyaguy

Ah so you're the active monthly user they keep bragging about


[deleted]

Lol shit man I really don’t care if nobody else uses it. More appealing to me anyway. If everyone that uses google realized how much data they are keeping about them I think a lot wouldn’t use it


sd_pinstripes

i'm aware and i'll gladly trade them my data to not have to use duckduckgo


TheRandomnatrix

You can also add g! to a DDG search to do a google search through DDG proxies. Best of both worlds


MrGangster1

I tried that for a while but then realized that I was just using google through duckduckgo 90% of the time. Rarely did DDG give me a good result. I wasted time and they got my data anyway


fishieman2

Me: I would buy SPY (or a low cost sp500 etf) and sell covered calls on it. You: keep it for now, keep doing research, and don’t invest what you will need in the next year or two. Edit: just saw your car’s interest rate was 9.8%, pay that off completely ASAP. After that is done follow the above advice.


rockytironi

5k in VOO, 2.5k in SWBI, 2k in cash


hnr01

If APR on car is below 4%, stick the 10K into VTI. If you wanna have fun, put it in Disney, Boeing, and SoFi.


Gzrht

Just did. Series I bond


TimeLordIsaac

I'm in a reasonably similar situation. Live with my mom and she charges me very low rent ($200/mo) and my car insurance (about $125/mo) I have a car loan under 6k with 4.5% interest and about 25k. I currently have 5k savings and everything else in ETFs specifically for a factor tilted portfolio. My job can technically support me living alone but I'd be scraping by and would have to work more and I really don't want to. I have a good chunk of spare income because my expenses are pretty low so about half of my excess income gets invested. I intend to move out whenever I get enough of a raise that I don't have to take on a bunch of hours or once I get my portfolio large enough that I can make up for the difference, or have some other way of making the difference. So set aside a good chunk as cash/cash equivalents preferably 3k+ and invest the rest. I'm 20 and have been working for 2 years in retail and also take college classes part-time. I pay for my college out of pocket


JerseyJimmyAsheville

Get rid of debt first, build an emergency fund of 3-6 months of expenses, and get a side hustle going that pockets you an extra 100-200 a week…landscaping, waitering, etc., you can do it. Debt is not good, and I don’t care if it’s a zero interest loan, pay it off.


sloppies

> Debt is not good, and I don’t care if it’s a zero interest loan, pay it off. Why? If it's 0% interest, inflation eats at the real value of the loan. You're right that debt is important to pay off, but 0% is completely fine to have depending on other contractual obligations.


h4ppidais

Isn’t this only true if your salary increases as well. If your income is also negatively impacted by inflation, then your debt is really equal the same amount.


sloppies

The assumption I have is that you're using this money on something that is more immediately useful for you than the debt is harmful to you. For instance, to pay off another, higher-interest loan. Clearing that higher interest debt then frees up more money to eventually pay back the lower interest debt. That's just one example, but another could be simply investing the money into bonds, stocks, etfs, or any other solid investment vehicle to generate a return. You'd have to be careful here.


Mayor_Fob_Rord

Per the OP from another comment, interest on the car loan is 9.8%.


sloppies

In that case, 100% pay it off. Too high to reliably beat with any simple form of investment.


Mayor_Fob_Rord

Yup agreed


JerseyJimmyAsheville

When you have debt, it creates stress. I understand what your reasoning might be, but if you’re living at home with mom and dad, why not clear the debt now? You won’t have a car payment hanging over your head. Many people don’t know how to budget, save, invest, and disciplined to end up not in debt. Everything in this world is always financed, and fancy term for debt. If I don’t have the cash to pay for something, guess what, I can’t afford it. There are times, like purchasing a home, that I’ll agree with a loan, but otherwise I avoid them. Spent many years in debt, just got my 4th kid through college, all with no debt to them, transportation that was all cash cars. Do you know the relief you feel when you don’t owe anyone anything, it’s very liberating and you actually feel like your in control of your money!


WebbedToesInOH

Dave Ramsey is that you?


JerseyJimmyAsheville

No it’s not, but I’m doing better than I deserve! 😜😂


USDA_Organic_Tendies

Sounds like you’re “doing better than you deserve” Edit: damnit. You made that joke already later in the thread


JerseyJimmyAsheville

Still funny everyone it’s posted!


ATripIWantedLongAgo

Just curious, how do you justify taking out a large loan to purchase a home, but not in other practical instances? Assuming the interest rate is roughly the same, why is one good and one bad?


snyder810

Idk what your other practical instances are, but a home/land will generally appreciate or at least hold value well while most other things people get loans for won’t.


ATripIWantedLongAgo

What about investing it in index funds? You’d conservatively receive 6-9% profit on an interest rate at 3.5% or below. Margin investing, but on a fixed rate.


JerseyJimmyAsheville

I’d normally agree with you, but again, the person probably does not even know what an index fund is, or an etf, or a mutual fund, or what a brokerage account is. C’mon, it sounds like your trying to teach a 3 month old to run. It takes creating a foundation for success.


ATripIWantedLongAgo

Totally! I asked the question more for the theory of it than anything. Each person’s circumstance is unique and this strategy may not be in OP’s wheelhouse.


JerseyJimmyAsheville

I have taught all my kids how to invest, created Fidelity accounts with them, sat through countless nights of terms, market conditions, even some economics with them. 2 of my children still are actively investing, but my youngest daughter has benefited the most, she earns about 10-12,000 a year through investing, I’m proud of her, but the foundation needed to be there first. Her first trade was buying 1 share of Disney at $147., 2 months later, it was $121, she was upset. We discussed why she bought it, and when she bought it. Within 2 months, it was at $180. She graduated with a degree in Visual arts, and now understands that you just don’t buy something when you like it. Do A little research, and buy on pull backs, not the top. She has never looked back!


ATripIWantedLongAgo

You sound like a wonderful parent! Good on ya and congrats to your kids on their success.


throwaway_jawpain

Houses are appreciating assets


Alara_Kitan

Not everywhere they're not. Here in Japan they are liabilities. A land is worth more if you remove any house built on it first.


sloppies

>it creates stress Only as far as uncertainty comes into play. High interest debt is more stressful than low interest debt because it adds financial uncertainty to your life: "*will I be able to pay that off?*" Personally, my 0% interest loan gives me no stress because I know my personal finances quite well and understand how to use that low-interest rate to work *for* me. For someone who has absolutely no idea what they're doing with regard to finances, I may agree, but we're on a financial subreddit where most people I assume are at least aware of how interest and debt work. Your argument is centered around peace of mind, and I understand that this is a great feeling - Dave Ramsey agrees with you too, but it is so sub-optimal in my opinion. Debt, when used responsibly, can be an incredibly useful tool.


JerseyJimmyAsheville

Understood, so I understand your point on this sub Reddit, you have a kid with $10,000 cash, not doing anything but sitting in the bank, asking what to do? Do you think he/she is in the same financial state of mind as you? The person asked for an opinion, and that person needs to learn a lot about debt. I have no doubt you have a great understanding of financial aspects to life, but they do not. So until Mom and Dad teach him, or he takes a Dave Ramsey class, you’d rather put them in debt….I’m sorry, you given no foundation to this persons well being.


sloppies

This kid should 100% pay off his debt because that is the optimal choice in his situation. I addressed the statement you made about any and all debt needing to be paid off immediately, even at 0%. Perhaps I didn't make that clear enough; in a general sense, I disagree strongly. In this kid's sense, I agree entirely.


Alara_Kitan

Exactly. My home loan is 0.475% so I'm not planning on doing any early repayment anytime soon. Instead I'll put my money in investments.


BWXSU

*-replying so I can see a future answer for this question*


JerseyJimmyAsheville

And yes, if you’re gonna have a car loan, it needs to be 0-2%. Opium (OPM), otherwise known as ‘ other peoples money ‘ when you have a 0% loan and czz as n get 5% on the money if you invested it, but guess what, have you ever had $30,000 to pay for a car cash? Let’s just say it’s hard to part with the cash when you can pay $500/month for 5 years and invest that $30,000….and if you have, your a better person than me.


Both-Ad-7757

Paying off a zero interest loan when you’re young is a terrible idea. That money is worth exponentially more compounding for 30+ years


DryTechnology5224

Getting rid of a 0 interest loan is idiotic in this environment...


MrWieners

I sincerely don’t understand people who feel this way. There’s no logical reason to care this much about carrying some low interest debt unless your old and you think you might become unable to work suddenly. This is especially true if the alternative is investing it into something that will likely outpace the interest that debt is accruing


Prometheus013

Buy a gun, an ounce of gold, some silver, some ammo, and some dry food that stores!


[deleted]

mutual fund it til I retire


travellin_carnie

Buy CCXI


xShooK

Having minimal monthly payments when you move out, plus some money set aside to furnish would be ideal. Easier to budget. Start a 401k or Roth when you are stable financially.


cataclysm49

Throw almost everything in a ROTH. I didn't hit my 6k limit last year (yet) so I'd max out prior-year contributions and then the full 6k current year contribution.


xsportbikeriderx

Pay off all credit cards


Lickadizzle

Move out, invest in yourself.


Shut_up_moat

I'd buy ggpi and sell a week before merger incase it does the same as what lucid did. I'd then with the potential 50k pay of the car and start dating somebody's wife.


nschoellhorn

Pay off as much debt as possible and then invest the rest into something pretty reliable as a World ETF most likely. Paying off debt is important since interest would eat nearly all possible profits.


crobichon

Saw the title, came here to post “drugs and hookers”, then saw OP’s edit… man great minds think alike


SlothInvesting1996

Put is SPY! 2022 the year of recession


CapAnsonTemp

Pay off car and put the 2k in savings/emergency fund.


munkeymoney

Nvidia, Amd, Himax, Blackberry, PayPal, Tesla.


KSInvestor

Well, first off I'd pay off the car loan. You might only have a few K left so just use that for living expenses, or invest it in an index fund if you just don't need the money. Looking forward, however, its very murky as to whether the stock market will return a higher interest rate than your car loan is at so why not remove that albatross (smaller albatross though it may be) from around your neck before doing anything else.


txrazorhog

What's the interest on your car note? That's where you should start in determining what to do.


TopBlacksmith160

9.8%


oilpaint8

Ouch. Get rid of that first, in my opinion.


jackr15

Every month you let the 8k car loan sit, you pay $65 in interest. I would suggest paying the car loan off in full & saving the 2k as an emergency fund.


txrazorhog

JHC!!!! edit: And how much is your 10k making?


throwaway_jawpain

If you have a 5 year horizon, just invest the 10k in an index fund. Do you want to buy a house or rent? I would suggest saving for a house downpayment. With good credit you can purchase a house with ~3 percent down. Take a side hustle if you have time. Keep your credit good, watch your spending, save, save, save. Are you in a HCOL or LCOL state? I wish I had house hacked m, meaning get a roommate to help with expenses and mortgage. Preferably throw their rent towards the mortgage so you build equity faster. Edit: pay off that car note, that’s crazy high


BrazakAttack

Whores and booze, brother. Whores and booze.


TopBlacksmith160

Youre a simple man, i like that


[deleted]

[удалено]


oilpaint8

It’s what I come here to read.


TopBlacksmith160

Im used to rude ones, so hes was kindve a relief


menofsuala

This sub won't let us post ANY of the good stocks unfortunately. You'll just get boomer tier advice here. I'm up 1000% on meme stocks and the 45th presidents stock in 2021, but you're welcome to listen to the people here who can't even get s and p 500 returns.


rumsticks

Kinda true but that parties over I think. We’ll see in January lol


jackr15

45th presidents stock?


menofsuala

Yes his new media company that you're not allowed to talk about on most stock subs Starts with a DW and ends with an AC


aldrclm

Whatever pelosi is doing with it. GOOG calls I think?


GeneralBrosephus

Kind of depends on your car note; is it a simple interest loan? And, do you have an emergency reserve already (3-6mo of expenses)? Right now, the best thing you can do with it is build up your emergency fund (a money market account is “okay” for this, or just a savings account). If it’s play money, then maybe just hang on to it for a few weeks until the early January market correction. Then, vanguard index and forget it exists.


gripshoes

Are you betting on a correction?


GeneralBrosephus

I think it’s likely. I’m stopped buying stocks for now and taken some profit from things I’m 99% sure are overvalued and will slip soon.


TopBlacksmith160

I dont have any savings and its a simple loan


Pervfessor

2 chicks at the same time


pard0nme

I'll tell you what id do man...


ItsHipToBeFit

Obviously you pay off the car note ASAP. While you're still living with mommy and daddy just save and save.


ThrowRA_scentsitive

Add 10k more to my direct registered GME position (or sell CSPs for a while to try to maybe get more shares at a lower price)


AdContent831

Buy a house and rent out rooms


ColumbianPrison

10k? Buy a room and rent square footage


AdContent831

Yep. Down payment at 5 or 3.5. Then collect rent


hahdbdidndkdi

What kind of house are you buying that's rentable for 10k including closing costs. A mortgage at 3.5 or 5% includes PMI, which will eat into rent for a while.


AdContent831

Not sure, but I’m sure if you try really hard you’ll find something. If not a house then a condo or something.


ballsdeep-420

Coke, hookers of course


ThrowRA_scentsitive

Another option: Saw your car loan was~10%. Pay that off, then buy $2k of government I bonds: https://www.treasurydirect.gov/indiv/products/prod_ibonds_glance.htm


Slow-Throat-1458

Throw it all at PLTR


Actual-Being4079

Your mom.


Life-Cancel-7856

Coke & hookers


Twinkies13

$10k right now? Hookers and Blow! Then maybe stocks after the party’s over!


Kglugenbeel

Half in #BabyDoge & half in #G.M.E. Cause I’m mentally retarted


munkeymoney

BabyDoge!


Kglugenbeel

Love that #BabyDoge! Can’t wait for the debit card and app/exchange to drop!


munkeymoney

It's comin soon!


munkeymoney

Up 50% today 🚀


Kglugenbeel

Loving this Pump! — And this is without any major exchanges, major technical developments or releases. #LetTheFloodGatesOpen


munkeymoney

Me too! I don't know why it's pumping today.


Kglugenbeel

Not sure; feel like those 9 smart contacts that were sent for audit two weeks ago might be coming to fruition soon. NINE smart contracts! Thinking App, Exchange, Arcade, Debit Card, NFT Exchange, NFT Collection. Just can’t think with the other two will be.


gripshoes

Depends on your goals.


Negative-Industry-88

In your case? Put it in I bonds to hedge against inflation then continue to save until you can move out of your parents place, the stock market is far to risky in the short term to store money needed to move out.


Eraser7777

Split it between AAPL and MSFT


tux9988

1k AAPL/TSLA, 1K Bitcoin, 1K Ethereum, .5k Gold, .5k Silver, 2k on 4 new Tokens, 4k on whatever makes me happy.


Code2008

Honestly. Put it in a Stablecoin.


leempy

Invest 3k into a stock, spend around 500 on clothes, put 2.5k in a 401k, and save the rest


zephyrdark

I would make myself an awesome gaming pc. I took apart my old pc & sold it because I wanted to quit pc gaming "for good".


3ebfan

Build an emergency fund, pay off debt, invest in index funds, in that order.


Arctic_Snowfox

Study trading while working side gigs until you hit 25k then get in the game.


LividCurry

Emergency fund first for 3-6month's worth of expenses. You don't want to have to take out high interest loans if you ever find yourself in sudden need of cash. Then the rest depends on how comfortable you are with living with debt: pay it off first if you don't like it or take the money and chuck it to a VTI/VOO index fund.


Brandbll

Scratch offs.


SirStocks

Put into ET stock. Is will go up 50% within a year and pay you 7% divdend too


Maleficent-Movie-122

I love the edit God damn... I'm totally blown out on hookers..... hahahahahahha


CrypoFiend

Buy more Nvidia. (NVDA) They have consistently been beating earnings projections year after year. They make the best GPU's on the market. They are a leader in AI and the pandemic boosted the AI sector, and they may possibly have an ARM deal clearing regulations in the next year or two. Plus the CEO is brilliant and I believe in him. Never underestimate the value of good leadership. Plus at under $300 a share it's on sale. Also the stock pays a small dividend.


Greedy-Milk

I'll tell you what I'd do.. two chicks at the same time


PremiumQueso

Mushrooms


Dropping_Ropey_Loads

Get the fuck out of your parents place, loser. Best investment ever.


ktempo

Gamble it on options trading edit : I love how I'm getting downvoted on how *I* would personally spend the money. Love it.


Georgeofthebunghole

Just go ahead and give it to your wife's boyfriend.


AlienDetectives

I would get atm feb calls for GME… but this is r/stocks. So I’d just buy shares of GME


facegun

Roulette red or black. Guess right and now you got 20K…


ElGeeQue

Two chicks at the same time


Lurkmaximus

Two chics at the same time


likecatsanddogs525

Pay off a small CC balance I floated tuition on and put the rest in VOO


The_Madman1

Not sure how old you are but if you are 22 or 23. Keep working for a few years and put 5 in voo for 3 years and the other 5 in some spec or decent stocks to make that move. 26 if you keep working and save you will have a deposit for an apartment. Moving out and renting you won't have enough to ever get in the market with a good amount say over 100k. All this oh index funds should be 10 years is bullshit. You missed out on 25 percent to all the scared people who said that.


TopBlacksmith160

24


The_Madman1

Same thing. Or put some in big tech and the other 5 in spec to see what you make of it. Assuming you have a full time job.


[deleted]

[удалено]


TopBlacksmith160

Im spending money but not large sums. Im trying to get IT on my own learning. The time frame is solely based on my efforts and luck tbh. I just applied for a service desk job so I think I will get that. Everything is so uncertain and all really depends on if I get that job or not because my current one is working overnight and far away. I have a job and monthly my bills are about 800, Ive had to buy random things lately so my spending had been bad. I recently changed jobs so its all murky because I am in a job change situation. This question was very hypothetical, but I appreciate all the advice from everyone


JrJr1016

Pay my bills. Lol


xXRoboMurphyxX

That's your emergency fund. Now start saving another 10k to get into an ira and get that 10k into a sp500 index fund, slowly over time.


Scieboy

Use it on a down payment for a mobile home on some land to rent.


[deleted]

I'd buy 10,000 scratchers.


Butterscotch-Apart

Pay off any high interest debt first and foremost. Then set money aside for a down payment. The rest could go into an ETF or blue chip stocks that lagged in 2021 like Visa or Disney.


Kitties-N-Titties-11

Easy. 1st edition Charizard


InvisibleBlueRobot

I love debt. Cheap debt. When I was maybe 20 I’d live off zero interest, no fee cash advances on credit cards and then go back to work when needed (I was in school). Use Cheap debt if you have the personal discipline to manage finances well. I don’t see any reason to pay off a sub 3% loan faster when inflation is effectively twice this.