Lets discuss 7 ways you can invest $10,000 in 2024 - and how you can best maximize your money, enjoy! Add me on Instagram: GPStephan The YouTube Creator Academy: Learn EXACTLY how to grow an audience, rank videos on the front page of searches, build your brand, and turn that into another income source: https://bit.ly/2STxofv $100 OFF WITH CODE 100OFF Get 2 Free Stocks on WeBull when you deposit $100 (Valued up to $1000): https://act.webull.com/k/Vowbik9Tm5he/main My ENTIRE Camera and Recording Equipment: https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB My second channel: null FIRST: Use some of that money towards an Emergency Fund This the money you set aside to ONLY be used in case of…YOU GUESSED IT…. an emergency, where you have no other option to turn. Ideally, the size of this fund should equal anywhere from 3-6 months worth of your expenses, and kept easily accessible….for emergencies. Lets say you lose a job, your car breaks down, or some other “emergency” happens and you need money…this is where you get it from. SECOND: Pay down high interest rate debt When you have high interest rate debt…paying DOWN that debt is like getting a guaranteed return on your money at whatever interest rate you’re paying down. So paying off a 20% interest credit card balance is like getting an immediate, guaranteed 20% return on your money - without ANY risk whatsoever. THIRD: Retirement accounts -Roth IRA This is a retirement account where you can contribute and invest after-tax money, and then all of the profit within that account is COMPLETELY tax free after the age of 59.5. You’re able to open up one of these accounts and deposit up to $6000 PER YEAR if you’re under the age of 50…and if you’re over 50, you can contribute $7000 per year. -Traditional 401K This is an account that you invest PRE-TAX money into, and then you’re taxed when you begin withdrawing the money after the age of 59.5. Now, unfortunately, the “catch” here is that you end up paying taxes when you take the money OUT of the account in retirement…so it’s not exactly a “Tax free” investment. -HSA Health Savings Account This account is specifically used to pay any out of pocket medical expenses or charges that you incur…if you don’t use them one year, that’s fine, it all rolls over to the next year. FOURTH: Low Risk Low Reward: High Interest Savings Account, CD, Bonds First, a savings account is the most obvious choice - and there’s no shortage of high interest, online savings accounts that’ll pay you above 1.7% annually. https://www.bankrate.com/banking/savings/rates/ Second, if you KNOW for sure you won’t be needing the money for a specific amount of time - you could look into putting your money into a CD, which will give you a slightly higher return while you continue saving. And third…if you want to take a little more risk with your money, but still keep it fairly safe…we have Bonds. A bond is basically just an IOU from a government, state, city, business…and again, most bonds are relatively safe. FIFTH: Index Funds An index fund is basically just an investment that tracks the overall market, and you’ll get to own a small amount of everything in one fund, for a low price. For MOST people watching this video…I’d probably recommend this route, because it’ll be your best risk vs reward in terms of how much money you’ll be making. SIXTH: Individual Stocks This is, by far - the riskiest from everything I’ve discussed - but, the payout potential could be much larger. This is because you’re placing a significant portion of your money within only a few specific companies, and your entire investment is dependent on those businesses doing well…so if you have a knack for picking stocks, and NOT trading emotionally…then it may work out for you. SEVENTH: Real Estate You could potentially buy a property up to $100,000 or so, and then rent it out. That could make you money in so many different ways, not to mention the tax benefits you’ll get of being able to write off all of your expenses, the equity you’ll gain by paying down the mortgage, and the potential appreciation of the building over time. All of which could increase your overall return dramatically. *Not Financial Advice ;) For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness@gmail.com