I would invest said money for a few years, in order to make it a lot more money and now:
fund a trust for our local public library to become 100% independent from any power grab/censoring/book banning temptation. And, nope, it wouldn’t matter the slightest from what political side or from what moral ground said attempt would originate from.
Promote reading among the general population. Focusing on the younger generations, because they’re our future and, even though it’s starting to fade away, they’re supposed to be the ones willing to make the effort of learning and be educated, but I would also not exclusively cater to younger people. I mean, unlike with kids, I tend to think that given a chance a vast majority of adults would hardly change their behavior/opinions, as they’re already set in their path and most of them are way too proud to ever admit they could have been wrong, but I would still want to give them the opportunity.
I can’t imagine what investments you think would be able to fund any of that off of $10,000. Invest for a few years you said, so what at best you might have $12,000?
I can’t imagine what investments you think would be able to fund any of that off of $10,000. Invest for a few years you said, so what at best you might have $12,000?
Not sure what I can answer to your remark. I mean, you realize it’s a very theoretical question that was asked by the op, as none of us is about to invest 10k or even 1 million to help our city, right?
So, why do you think it was useful to point out what I already mentioned to begin with (the amount is too small to do what I would love to do)? Was it to show you can do math? Congrats, I do Origami quite nicely myself. Or was it something meaner? In which case I don’t think this deserves much congrats.
That being said, without being an expert in investing myself allow me to point out that ‘a few years’ does not mean a couple of years which, after a quick check, is the time it would take to earn a little over your 2K by investing 10k in the S&P and not doing much. That is on average, it has been more in recent years and it could easily be much more depending one’s expertise and willingness to take risks. And that is also not considering other types and modes of investments than just buying good old stocks. I don’t think a 10% yearly return is something our crypto friends would be satisfied with but I may be wrong: I don’t do much crypto (I do Origami).
So, even if it’s hard to conceive, in that imaginary world where I would have 10k at my disposal to do some good in my community I would do exactly as I said and would invest that money. Long term if needed. Patience is key, in investing like in everything else, even if that goes against the immediate gratification that seems to have become our new religion.
And only after it has made enough money, I would use it. Also, since you want to turn that little fantasy of mine, into something more realistic, I did not exclude the possibility to regularly invest more money to add to my initial capital. Neither did I mention the possibility that people good at math, maybe even you, could notice my endeavor and, despite its naivety, realize my objective is a decent one and they may then feel motivated enough to contribute (al lot more, since you and they are much better at math). And voilà, problem solved. We now are sitting on so many cash that we won’t be able to spend it. Amazing.
10,000 is probably not enough. So:
Edit: typos.
I can’t imagine what investments you think would be able to fund any of that off of $10,000. Invest for a few years you said, so what at best you might have $12,000?
Not sure what I can answer to your remark. I mean, you realize it’s a very theoretical question that was asked by the op, as none of us is about to invest 10k or even 1 million to help our city, right?
So, why do you think it was useful to point out what I already mentioned to begin with (the amount is too small to do what I would love to do)? Was it to show you can do math? Congrats, I do Origami quite nicely myself. Or was it something meaner? In which case I don’t think this deserves much congrats.
That being said, without being an expert in investing myself allow me to point out that ‘a few years’ does not mean a couple of years which, after a quick check, is the time it would take to earn a little over your 2K by investing 10k in the S&P and not doing much. That is on average, it has been more in recent years and it could easily be much more depending one’s expertise and willingness to take risks. And that is also not considering other types and modes of investments than just buying good old stocks. I don’t think a 10% yearly return is something our crypto friends would be satisfied with but I may be wrong: I don’t do much crypto (I do Origami).
So, even if it’s hard to conceive, in that imaginary world where I would have 10k at my disposal to do some good in my community I would do exactly as I said and would invest that money. Long term if needed. Patience is key, in investing like in everything else, even if that goes against the immediate gratification that seems to have become our new religion.
And only after it has made enough money, I would use it. Also, since you want to turn that little fantasy of mine, into something more realistic, I did not exclude the possibility to regularly invest more money to add to my initial capital. Neither did I mention the possibility that people good at math, maybe even you, could notice my endeavor and, despite its naivety, realize my objective is a decent one and they may then feel motivated enough to contribute (al lot more, since you and they are much better at math). And voilà, problem solved. We now are sitting on so many cash that we won’t be able to spend it. Amazing.
Edit: typos & clarifications.