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What can I do with US$10K that is a good investment?
(lemmy.world)
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this post was submitted on 28 Sep 2024
118 points (94.7% liked)
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Passive global technology index tracking fund
I'm going to need this dumbed down so I can understand
They have low cost to you
Global means they have stock in all markets, so if us is going bad is not necessarily bad for you
Technology means they mostly have stock in technology
Index funds follow the market. They have stock on everything in a segment or general so if market does well, you du well.
I got a 7k bonus 20 years ago in the military. I seriously considered investing it in the Vangard total stock market index fund. In '04 it was trading at $54 per share, today $282. Had I invested that $7,000 I would have $365,555 today. Instead I "invested" it at the strip club because I was a young dumb E-3 in Pensacola and New Orleans was only a weekend pass away. Long story short, index funds are the way to go.
I was considering spending this $10K on an extravagant, international vacation but am trying to make a smarter investment.