Saving 40k a year - looking to diversify or grow money further?
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My wife and I are saving $40k a year? What are some ways we can make our money grow even more without putting it at a risk. We have good careers and fairly young (late 20's). Serious answers only please. Thanks
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Answer:
there is no such thing as making money without risk. the only risk free "investment" is keeping your cash to yourself, keeping it in a ready to withdrawal checking account, or a CD/savings. These are low risk, and low return. I assume you have no debt, or else you'd pay that first. Let's say you have $40K a year. In 3 years you'd have $120K. Look in places that have historically HIGH housing prices, and see how LOW they've become, this is NOT easy, but might be worth your time. If you can afford to flip houses with no debt, that's one way. NOTHING is without risk, the higher return usually the higher risk. You can also invest in bulk purchasing, reselling, I do that with less than $2,000 at a time. It's not without work, but it's rather low risk and return is not bad. If you don't want to do work, you probably shouldn't think too much about investing or making money. Since many people have trusted stock brokers, fund managers to hold their money, what happened? Stock market crash lost them 40-50%, it was nobody's direct fault, but if avoided, these people would still have most of their money.
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