Bored with money...

I've never had money before now suddenly I got a chunk of change and no idea what to do with it. Not enough to buy a house, but enough that I don't gotta work for a bit of I don't wanna. But what do I do with it? Should I invest? Put it in an RRSP? GameStop stock? Lol jk... Just use it to live? I don't really want a vehicle as I hate driving and there's no other bigger items I really need since I rent. I also don't wanna waste it...

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If I were you..

Apr 4, 2021 at 3:54am

I'd prep for basically every kind of apocalyptic scenario I could think of, focusing on killing off herds of AI infected zombies and genetically engineered chimera monstrosities invading from planet X.

Anonymous

Apr 4, 2021 at 4:49am

Travel, bitcoin?

Anonymous

Apr 4, 2021 at 5:46am

Everyone has a (different) opinion how you should spend your money. It might be worth reading through some of the reddit pages for investing, stockmarket, wallstreetbets if you want the full spectrum of idiotic opinions. And then maybe reading some classic investing books with different approaches (random walk down wall street, rich dad poor dad...) And then throw all that out and go Diamond Hands Ethereum To The Moon! (jk...sort of)

23 2Rating: +21

I put a couple grand in crypto

Apr 4, 2021 at 6:51am

It’s up by 20%. I cashed out 400 in Bitcoin to diversify into other crypto currencies

H.P...

Apr 4, 2021 at 7:30am

... lovecraft, iirc, had the idea that money was for two things: spending or making loans to friends, tho this was before our modern access to credit.

I mean, if it's not enough to buy a house, it is a question of how to invest it. There are a number of property trust REITs on the TSX, e.g. loblaws has one that owns the underlying title to most of their grocery stores.

So, there are ways to invest in real estate even if you cannot afford a whole property. Although as with any asset where you hold stock in a company, that stock does not necessarily reflect the underlying value of its holdings.

You want to save it. If you are old, you might break your hip. You want to be able to go to USA to get it fixed, not wait for months in Canada while you decline. Everyone rich does this btw, they love our socialist system...for other people.

Mojita

Apr 4, 2021 at 7:41am

Save it until you find a purpose for it.

Here’s a thought

Apr 4, 2021 at 7:46am

Why don’t you save it? Depending on how old you are and how much it is, investing it into an RRSP now will always help you down the road. Trust me, being old and poor is no picnic.

Anonymous

Apr 4, 2021 at 8:21am

It's summer so go camping away from
" cough cough " covid city.
Try petting a bear in the woods.
Some fresh air in your lungs and a bit of quiet can clear the mind.
Heaven am I right lol
That doesn't cost too much either !
Save your money the shit winds are beginning to blow :)

7 7Rating: 0

You say that it's not big enough

Apr 4, 2021 at 8:29am

to buy a house... but is it big enough to make a down payment? And if not a house, then maybe a condo? If you buy a 2 bdrm one, you could rent out a room.

Not a $hill

Apr 4, 2021 at 11:01am

Congrats! Dollar cost average your way into some low-fee ETFs to start. Also, buy a few Ethereum. It's going places this summer. (This is not financial advice.)

8 8Rating: 0

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