Alright so, Im a blue collar guy. Keep 3 or 4 grand in my checking, that's replenished weekly with my pay checks. This is for rent, what have yous, gambling, drinking, entertaining, etc. I have a little over 10 k in my savings and I kinda feel like I should be doing something with this, other than my BS 401k, to try and invest it intelligently. Not looking for get rich shite, just something smart. It only makes a couple dollars a month in my savings. Is there anything I can do with this money that's semi safe, that I can gain more than the savings rate. Don't want it tied up forever tho. Also, planning on a nice tax return, so in feb-march should be in the 15k range. Any small business I should contemplate or a better investment than high cap stocks? Thanks in advance. Anybody know anything about getting into the medical maryjane business? Seems like this would be highly profitable.
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Have you looked into dollar bank? I heard you get interest every day there rather than most monthly or annual banksComment -
I'd steer clear of the medical business unless you have some sort of background in the business/individuals you know well already working in the industry. Everyone and their dog is trying to make a living growing/selling to dispensaries; too much competition unless you're already good at what you do. Plus its not necessarily "semi safe".
Open a Scottrade/TD Ameritrade account and deposit a few grand. Do some research on stocks that you like and invest. Although there aren't any "safe plays" per say, growth companies such as JNJ (Johnson and Johnson), and major banks like Wells Fargo WFC are generally on the up and up. Do some reading and make some picks. You could easily make 6%-8% annually with fairly low risk.Comment