So I am about to come into 50k dollars tax free? How can I use it to increase...

girlDog
girlDog

So I am about to come into 50k dollars tax free? How can I use it to increase my passive income? By more divided stocks? Truesaries? Or use it to help pay off my morgage?

Best response gets a response from me.

farquit
farquit

I currently less get about 8k a year, mostly from my rental income from renting out my spare room.

iluvmen
iluvmen

Just go to Vanguard and listen to the dude there

idontknow
idontknow

Why passive income? Are you ready to retire?

Techpill
Techpill

50k dollars tax free
the irs disagrees

PurpleCharger
PurpleCharger

Just pay off your mortage and get rid of that headache.

Stark_Naked
Stark_Naked

That's only 1/4 of my remaking principle

Garbage Can Lid
Garbage Can Lid

Dividends only make sense in a tax deferred account.

Treasury's are being sold off yet they still yield chunk change.

Best thing to do is use that money for a down payment on a condo or house in an in demand neighborhood and then rent it out.

Firespawn
Firespawn

Spend ~$1,000 on personal finance, real estate, and tax law books.

Power through them.

Use $49k investing in rental property through bank loans.

Need about 20% down.

Enjoy $245,000 in rental real estate income while you continue to learn how to more efficiently convert your income into real estate.

Master real estate enough to live passivly and gamble money on new ventures.

Thank me for retireing young and starting 100 random businesses and investmebts that more than make up for the losses.

Git gud user.

SniperGod
SniperGod

Shhhhhhhhh

StonedTime
StonedTime

Good goyim give your money back as quickly a possible while interest rates are low so the bank can use your money more wisely by investing in things you could have... Yes.. good goyim you are

eGremlin
eGremlin

You sound like a 15 year old regurgitating some shit advice you once over head.

FastChef
FastChef

So I shouldn't do that? Because it seemed like a lot of work that I don't want to do. I want it to be passive, so I can focus on my full time job

Soft_member
Soft_member

Put it into an accumulating exchange-traded fund. Fill in tax returns once a year. Done.

PackManBrainlure
PackManBrainlure

index funds are the easiest choice
buying stock individually is the hardest choice

Poker_Star
Poker_Star

Hardest and stupidest.

bu-bu-bu-but i'll totally out-forecast all those thousands of fund managers and their teams working full time and doing nothing else by reading le breibart

RumChicken
RumChicken

listen to broker forecasts, do research be willing to lose as well as gain.

1 stock - high risk, very high reward

viagrandad
viagrandad

You understand that there are people whose whole job revolves around doing only that while being supported by a whole team? Whatever information you have they have as well and can almost certainly react faster than you.

Also, don't forget diminishing marginal utility. It's not "high risk, very high reward", but rather "very high risk, modest reward".

whereismyname
whereismyname

OP here
So what's the deal?? People are saying different things, and IDK what to do.

haveahappyday
haveahappyday

Invest in kneepads

Techpill
Techpill

dividends in tax differed

What are qualified dividends