I am 19, I have around 100k ready to put into a business. What should I do?

[kuskus1]

@igortachkent You’re 19. You have the one thing many of us don’t. A long period of time to watch our investments grow.

If you put the $100k into VOO today, without adding a single penny to that fund ever again, you will retire with $2m at age 65. This is accounting for 7% interest. You literally have to do nothing else.

Or, invest 30k of it into a startup, and put the rest in VOO. And you’ll end up with $1.4m.

Best wishes.

 

[anonyme]

@kuskus1 it amazes me people still think this is a good idea instead of putting that money into assets so he can enjoy being wealthy young. Putting that money into a "retirement account" is retiring the money. You want that money to slave for you, making you money 24/7 actively, not wasting away for hopefully a compounding return you can enjoy when you're old as hell -- if you even live that long

 

[tiredofbeingtiredmom]

@kuskus1 The sad truth is $2 million dollars in checks notes 46 years will be peanuts. Considering that number is roughly what you need to retire today. 2 million dollars in 2069 will be nowhere near close to retirement money.

 

[613jono]

@tiredofbeingtiredmom But he could still live on the interest with middle class quality of life

 

[tiredofbeingtiredmom]

@613jono Off of 2 million dollars? in 2069?

 

[kimmarqy]

@tiredofbeingtiredmom That’s like 3 months of canned air MAX

 

[613jono]

@tiredofbeingtiredmom 19 year olds are going to need like 7m by retirement age if they want it to be like 2m in 2023 dollars probably closer to 8m

 

[pmincey]

@kuskus1 Just curious, What is VOO? I googled but I also want to make sure I have the correct idea of what this means!

 

[bones49]

@pmincey It’s an index fund

 

[jimmy1234]

@pmincey An exchange-traded fund that tracks the S&P 500 index. Buying VOO is basically a broad investment in the stock market.

 

[1daysoon]

@jimmy1234 What happens when s&p goes down? Do we still have 1.4M?

 

[pmincey]

@jimmy1234 Thank you!

 

[trustmaster]

@igortachkent Put 90% of it into a high yield savings account while you plan your next move.

 

[squeakyrn]

@igortachkent Depending on where you are, wash & fold is a booming business. It requires logistics to manage properly and the growth opportunities are many.

 

[gilbert_godfree]

@igortachkent Hear me out:

storage units

I’m reading you can get a commercial property with about 10% down and cash flow approx $4K a month.

And you’re in real estate without dealing with tenants and their toilets.

Maybe get a job at one and find out how they run, systems in place and what not before considering if it’s right for you. Win/win.

Now this is not as sexy as VOO, but I think it may be a mostly recession proof business.

 

[crkodn]

@igortachkent Have you looked into purchasing other types of routes? Bread, chips, tortillas, and the holiest of holy, Pepperidge farm. DSD vendors regularly clear 100k a yr. Buy one out right, hire a driver and finance another one to run yourself.

 

[mercy743]

@crkodn I know a guy who bought a chip route and he’s just stuck working out straight everyday paying off the loan he bought the route from. Now he has to buy a new box truck after driving an absolute beater and will be getting in debt even deeper. I feel bad for the guy honestly.

 

[crkodn]

@mercy743 Yeah that really sucks. I bought and sold one, then leveraged the profits into another one. Mine is paid off and I own my truck. If done right, they can be profitable.

 

[p4ul0n]

@igortachkent How the hell does a 19 year old have 100k. I didn't have 100k in the bank until I was about 30

 

[colonita]

@igortachkent How many of these posts are fake? Lol