Real advice wanted please. I have about 7000 in my savings account. Where is the best place to invest it?

Real advice wanted please. I have about 7000 in my savings account. Where is the best place to invest it?

I'm in the us too

that depends,
1 - do you currently own your own land?
2 - do you currently own the place you live in?
3 - is the place you live in and own on the land you own?

4- what are your current expenses?

>tfw this guy was drawn as a penis head all along

You don't own your land or place you live in technically until you pay off your mortgage..... so in 20 years or so he will be better off then he is now.

unless,
you buy your land,
instead of taking out a mortgage.

example:
someone was selling land ,
i bought it,
now i own it.
no mortgage involved.

crypto currencies can be be a good place to put a couple hundred bucks

I'm currently a high school senior

Telling you right now, buy real estate. Bought a house for 292k 3 years ago, sold for 429k currently putting 30k in a 300k house which i can prob get close to 385k when I am done. As long as the market stays the same

Yes but if you are buying lots in a city it will be more expensive then out in the country. If you have an opportunity to buy land near any residential development that is currently ongoing for the next 5 years, then man you will be set in 15 years

...

i bought a lot,
in a pretty big city.
no mortgage involved.
about 10k for enough for me to live on.

the variable here is:
if you are in high school, and your parents / family are still supporting you, you aren't paying your own bills, and you won't become homeless per not sustaining your expenses, be aware that it is a huge step up as an individual to own the place you live in, as opposed to renting it.
there is a system in place, in society, to keep you working under someone to make just enough money to pay rent for a place you don't own and will get kicked out of.

so,
real advice:
if you have money saved up,
are still in high school,
and do not own the place you live in,
invest your money into a place to live in that you will own.
paying the equivalent of rent for something you dont own on property tax for something you do own is significantly better for your long term goals.
take it from someone who worked retail after high school as an independent / no help from family or parents for 5 years and had all his money sucked into rent and bills before getting his shit together and now owns his own situation to invest further into long term life goals.

Don't listen to these clowns, land? House? Instand debt! 7k isn't that much man, it's a good cushion to start but if you have a job, keep doing what you are doing. The only thing you should be investing in now is 401k. Live below your means and work your way up to 10k savings. Then pretend you have 0 dollars at start from there.

Yeah I was kinda shying away from that land stuff. I don't think settling down before I even go to college will be a good idea. What if I can get a good job in another city? Ya know

Instant debt? you bet.

Difference is, you can sell your land or house WHENEVER YOU WANT, and make a decent profit. 7k on stocks will take 15+ years to do anything, and that is if you put it in high risk. Property is a great investment, just don't overpay and buy a dump that will cost more in the long run. Remember when you turn 55 or 60 on top of your savings you can sell your house and downgrade to something smaller, and in turn using your massive profits invest more into retirement.

You need property, stocks and some savings. Have enough in your savings to pay for any emergency in your home, IE basement repair, roof etc

very simple, put your savings into a bank.

Land, always land.
Land value always goes up, people always need land, always invest in land, you can't go wrong.

ok.

back to the question

what are your current expenses?
are you homeless?
is your dad going to kick you out if you invest what you have saved in something that gaurantees he is going to continue to be paying for your ass?

what is your current income and expenses?
that is necessary to know before determining what is best to invest in.

invest 7000 dollars in something that will be 14000 one day.
but, be homeless until that day.
see what i mean?

my steam account. can't go wrong.

Buy as many SNES classics as you can and sell them all on ebay in a few months

...

if your american, in gold. your economy is about to tank.

These all depend on the current state of economy
>gold when economy's good- sell when bad
>land when economy is bad- sell when good
>GIC accounts

loolololololol. crypto currency will see far bigger gains. If it tanks or not, billions of drug and small arms $$$ go through bitcoin.

My heroin addiction please just send something

Bit coins, 1 bit coin will be a 4k$ worth it

Gold and Bitcoin or other crypto currency

buy a house

>buy something that has 0 liquidity

you people are idiots

research n buy ico. initial coin offering. its like preordering crypto currency