So I just won around 250,000 in the lottery (my math says I get around 170 after fed and state tax). I'm 28, work minimum wage and don't wish to waste this. I already plan on going to community college (while working) for a bachelors in computer science and buying a used car for about 13 grand. My question is how should I handle the rest? Is bit coin safe enough to grow my money in? Should I just set it aside?
If you were in my position what would you do with the money?
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All in in bitcoin.
I would not post in a politics board
Bitcoin is definitely not fucking safe to put it all in holy shit lmao
buy a haram off the internet and repopulate the white race
dont be retarded and buy dumb shit.
Either buy proprety that you can rent
or invest it.
Go ask /biz/
Invest in something and let it sit there without touching it.
Buy a couple things I want and invest the rest. $170k won't really go that far if you blow it all now, but if you invest wisely you will never have to worry about your finances for the rest of your life. Put it in mutual funds and a well rounded stock portfolio.
nocoiner spotted
enjoy your nogains
/biz/
Bitcoin is at an all time high right now. Wait until it crashes to like 700 before investing significant quantities.
Might want to try to get a bachelor's of comp sci instead of CC route. Cc isn't worth very much in regards to STEM education.
Congrats on your 2nd take on life.
Place in a bank account and then find various stocks and IRAs and other ways to invest. Diversify it up.
>oooyyy vveeeyy but da jooz
Your money is nothing. You're not even at $250k.
buy like 10k in gold. It will have a yuge return eventually. Also buy guns. Save nothing, invest it all.
It is fucking safe. Even if world war 3 starts, bitcoin will still have value when traditional banks may fail.
Give it to Bernie Sanders to redistribute to blacks
I said bitcoin was a scam when it was $0.30 a coin. That feeling.
OP buy land!! and a bunch of onaholes
put it all in the same basket.
Bitcoin has gained like 200% in the past year. It's almost gold parity atm.
Even well invested, that's not enough money to be comfortable on. It's enough to give a head start if you didn't have one before. Maybe if it was 11.7m he'd be set.
Making minimum wage and buying lotto tickets? Winning the lotto is the only way people like you will ever get anything. You will probably be broke in 4 months. Fucking bitcoin wallet...
buy real estate and rent it
you could buy a house in cash and rent it and pocket all the rent forever
>bitcoin
>crash to 700
will they ever learn?
dude, I didn't even know it existed until it wass 2usd, never considered it to be an investment, used to buy drugs, had 100btc at some point
REEEEEEEE---
bitcoin is over priced at the moment.
wait until it goes down.
>buying a used car for about 13 grand
Wtf...I guess we know why you need a college degree.
Put it in the S&P 500.
Don't touch it till you're ready to retire.
Thank me later.
Travel the world for a few years doing coke and fucking sluts. Saving money is for crones who have nothing to live for
All depends on the car, and all the variables of its condition and age. Could be getting a good deal.
>WW3 starts
>EMP attacks all over the world
Whoops, so much for digital currency.
Become a Boglehead and buy index funds
Beware monkeys trading bananas
Congrats btw
You see women differently, as I did when I got an engineering degree
hookers and cocaine
donate to clinton foundation
Buy land. Its value won't decrease. Buy something with lots of trees, then sell a bunch of the trees for timber and replant new ones. In 20 years you'll be able to resell more trees. This may sound stupid to you, but at least look into it. It's pretty fucking hard to go wrong investing in land.
You can get a good care for 5k max! Also use that money to buy a house instead of slaving away to paying a mortgage.
btw how did you win the lottery? scratch card or actual lottery
Obvious answer: Buy Gold. Not paper gold, but physical actual gold.
Buy a gun. or two.
Buy a small cabin outside urban areas, preferably mountains.
Went from $0.06 per bitcoin in 2010 to $1200,00 now
The tragedy is that someone offered me 1000 bitcoins in 2010 to build them a website for selling weed seeds online and I told them to fuckoff...biggest mistake of my life.
Invest in yourself. Keep your job. Maybe buy a house or condo and rent it. That maybe a good investment too. I think it may be better to buy a new car and pay for it monthly because you'll get a brand new car. This way you wont spent fucking 13k in a single drop. The poor people's mind is on spending money while successful people only think on making money. You already are thinking on spending money on an old car and 13k of it. Nigger you're not rich.
Buy land. Preferably in some shit country.
Hire thugs to protect your land, build a small village around your manor. Wall your property.
There are African kingdoms whose military has only 1 helicopter. Farming and renting houses within your property can give you enough money to rent 2 attack helicopters and take over some small state.
Do it, you America scum!
Why are poor people so unimaginative with money?
>diuuur money means coke and whores just like du movies XD XD XDDDD
Lol.
>Invest in gold
>In 40 years you've got an equal amount of value to what you had 40 years ago
>Invest in literally anything else
>Have 10x the value you started with
>13 grand on a used car
For what purpose?
OP save it all until you've educated yourself on what to do with it. A FOOL AND HIS MONEY ARE SOON PARTED. Get smart before you start spending it.
Don't bet it all on one horse.
Buy some gold, some bitcoins, property, etc
Get professional help
Don't get a CS degree. Get an engineering degree.
They already teach loos and chinks code at a MUCH lower rate (with bad results though).
Put 25-50 thousand dollars into the S&P either through a retirement or non-retirement account. Let it sit. Dont touch the money
this
alternately you could use something like wealthfront or betterment
build that retirement fund baby
kek I remember that lardarse from the papers, he had a good few years at least. I bet it was a hell of a good time until he woke up penniless with the clap
>will they ever learn?
No, they see the current price and think its the same thing as 2013. Though I am waiting for that moment BTC bubbles up again like it did years ago, only to cash out and rebuy lower.
how so?
This is not good advice right now; the policies that made 2008 happen are still in place (loan banks and investment banks not separated + people defaulting on houses by leveraging mortgages for college debt), so another crash in incoming
BUT BUT BUT, if you wait until this crash happens, and THEN buy land, you can end up with more land than god, and land that WILL up its value until the next crash (which is probably also still incoming)
Gold is a terrible idea for a first investment. Go with the American stocks first. Gold can be bought later. Look into the S&P 500
Honestly. I would buy a home. Own it outright. There is something nice about a very cheap cost of living.
Nothing fancy find a decent place for 100k.
I came into some money at 22. Little less than you but about 150k
I bought my home out right no mortgage. Bought my furnishings and a used car.
Got married and had a family young. Since my cost of living was so cheap I could raise my family on a single income. My wife fot to stay home and raise the children instead of a daycare.
Fast forward im 37 now. My children are in school full days. My wife works part time too.
The cheap cost of living gives us flexibility in life most people our age do not have. We can come and go from jobs as we like. We own our lifes. Our belongings and possessions do not own us. We have more time to spend with our family.
Since i own my home getting money in loans is very easy. I dont get held hostage by credit ratings. I always have collateral to secure loans for new cars. Loans for vacations etc.
Its a nice feeling working only 3 to 4 days a week. Not having to feel trapped. Knowing i could walk out and get a mcjob and still pay my bills.
I sold at 1170 trying to buy that dip (havn't traded since two bubbles aggo), I hope this isn't the biggest mistake of my life
Don't listen to anyone ITT. Assuming you're not full of shit, use the money to get out of debt. Pay off college in full, your house, whatever. No interest payments alone will more than double the value in the long run.
I wouldn't larp on Sup Forums about winning 250 grand.
Sounds like youre both a bit too optimistic about the state of the world and economy in coming next 10 years.
Same can be said about your bank account and the value of those shit dollars you carry around in your wallet.
The only hard asset to stock besides land is guns, ammo, water, and food.
How much rent do you pay?
What are housing costs around your area?
The whole stock market is an enormous bubble, wait until it bursts soon and then buy the dip.
It's going to be a fucking huge stock market crash, that shit has been coming for a long time.
In 10 years I want you to remember what you just said. We are not there yet as human beings yet. Give it another 100-150 years
It's the impending crash that starts the race war, you know.
People have been saying that since 2014, more paranoid ones since 2013
170k isn't enough to live on, even in the riskiest investments, dumbass. Add a zero, then you can start thinking about living off interest income.
170k is a hell of a start for later on, however, you could easily grow that to an interest income to live off. Invest, forget. Plow gains back into it. Grow, grow, grow.
China wants their own electronic currency and will ban bitcoin probably. So the what would the value be?
ill be dead in 5
I'm talking raw, vacant land. Even if you think another housing crash is coming if you buy property that has trees that you can sell you'll be able to make money back immediately. I personally know one person who literally made all of his money back like this, and he still owned the land after the fact. It's like he got it for free. That's obviously not going to be th e case for everyone. But long term, it's going to pay off eventually. They aren't making any more land obviously.
High yield index funds.
>bitcoin
>not a yid pump and dump
you should put all your money into this wealth consolidation scheme, goy
There is always eventually an economic collapse.
Always.
Is this some pasta? because ever single idea is flawed.
you can't get a bachelors in a CC.
CS is a shit field. because they only want to hire cheap pajeets with work visas.
buy a new car for 18k
faget
Keep some cash
Buy a few gold coins; keep them in a safe in a bank
Put some money in a stock index fund (S&P500)
Put some money in a bond index fund
Spend some money on you (cigars, whisky, watches...) because you could get hit by a car tomorrow
He's not wrong. Stocks are hugely overvalued. They're going to come down hard.
That's why I wouldn't suggest investing in index funds just yet. Wait for the crash, buy 4 times as much as you could right now.
I'd buy my dream house in a envious location. Such as a luxury area with a view. Use the money as a down payment if it affords a easy to pay mortgage payment. There's nothing better than having a place on the hills that over watches all the suckers suffering as you sip a beer during the setting sun. Invest into solidarity. I bought a house asap. I'd sell mine and buy one of those on the hills or rebuild a giant brick building if i have that money.
25k into S&P500
20k into small/mid cap american stocks
buy a small/mid condo in full
thank me later
People have been buying the dip forever too, but it's pure speculation. The thing has ballooned out of control the past few years, it can't last forever and the bigger the bubble the sooner the crash.
it's inevitable
We can only hope.
Given that Bitcoin has absolutely no intrinsic value it would probably crash following a world shattering event.
Try to purchase a million dollar house.
Convince the bank by showing them your money.
Improve house.
Refinance in a year.
Sell it higher.
170k will disappear if you do not spend it wisely.
PS I like Dimensional Funds.
us.dimensional.com
Land or invest in stock. Do your research on stock and I'd recommend doing an index. I'm also guessing that you don't do day trading, so buy and hold. Sell when you think is appropriate but be aware of the capital gains tax. If you wait a year, the tax rate drops and it's 0% if you're at the bottom %-tile of wage earners. You'll need to figure out what it is for you. Also remember that nothing is guaranteed so you could lose it all or you could earn quite a bit. Just make sure you make a good, calculated risk.