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/biz/ - Business & Finance

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23209036 No.23209036 [Reply] [Original]

I'm a dumb paycheque to paycheque leaf who just won ~$50k after taxes, should I dump it into a tax free savings account?

>> No.23209048

yes

>> No.23209145

No, dump it into LINK, CLV, ETH and BTC.

>> No.23209246

Be brave. Chuck it into crypto like the rest of us.
One of us one of us one of us one of us one of us one of us

>> No.23209343

>>23209246
I'm not normally one to gooble gobble, but you're making a strong case. So chainlink then?

>> No.23209379

>>23209036
>tax free savings account
wait, what are these words? do you get taxed on your savings?

>> No.23209430

>>23209379
Not OP but I'm assuming he means that the interest generated by the account is untaxed

>> No.23209479

>>23209430
There are also TFSA investment accounts where you're not charged capital gains tax on any stock profits.

>> No.23209664

>>23209343
Don’t risk it on a token that is built on ethereum and doesn’t to anything

Just buy bitcoin or Eth if you are going to put any of it into crypto

You just received life changing money

Yes, this is life changing money for you as you live paycheck to paycheck so don’t gamble it on shitcoins

>> No.23209685

>>23209036

I assume that by winning that money and asking /biz/, that it is a non-essential amount of money, which you can afford to lose partially or even fully?

If that's the case, then I'd seriously consider taking the chances and investing into crypto, pm and stocks (whichever you are more comfortable with). A savings account is a simple "no worries" solution, but considering future inflation rates, it might not even preserve your money's current value.

As it is a quite substantial amount of money, I would suggest investing into more established coins and not some /biz/ degen coin selection.

>> No.23209700

>>23209036
dump it into Statera

>> No.23209775

>>23209036
dont buy any shitcoin shilled by pajeets on here claiming imminent mooning
put it in btc, eth and link and wait a year or two and enjoy the lambo

>> No.23209795

>>23209664
>Doesn't do anything.

Kek

>> No.23209914

>>23209036
5k into gold bullion, 25k into ETH and BTC, 20k into blue chip stocks

>> No.23209992

Put it all on Bitcoin
Or chainlink if you're a gambler
You will avoid sudden wealth syndrome this way, because your newfound money will be in jeopardy, but in the long run will make you more money

>> No.23210040

If I were you I'd put half into Bitcoin and half into XMR and wait 5 years before cashing out.

This will ensure you have no losses as it is very low risk with very high reward potential.

Good luck OP

>> No.23210177

>>23209036
All in xrp!!!

>> No.23210393
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23210393

>> No.23210479
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23210479

>>23209048

>> No.23210504

>>23209036
you're not pay check to pay check anymore. keep 3 months pay check, the rest into some sort of investment doesn't matter that

>> No.23210869

>>23210504
Someone with a brain.

Solid advice on taking 3 months living expenses and setting it aside for a rainy day. You never know when shit may go pear shaped