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Ask HN: I've saved up $80k USD. What should I do with it?
11–20 of 112 posts
Re: Ask HN: I've saved up $80k USD. What should I do with it?
#12I would prefer to buy property any time. People will always need housing. So while the price of the property is pure speculation, rent is a nice steady source of income.
Assuming you had no property, would you be comfortable with your first purchase being something you can't yourself live in? Also, would owning mean a huge time investment maintianing it?
Re: Ask HN: I've saved up $80k USD. What should I do with it?
#13Buy BTC
Re: Ask HN: I've saved up $80k USD. What should I do with it?
#14Depending on your age and background, consider investing in yourself, e.g. invest in things that help you finish your degree or boost your career or invest in your physical health. Returns of such investments might be considerable.
Re: Ask HN: I've saved up $80k USD. What should I do with it?
#15Short answer: Dump it all in VFIAX and ignore it for about 30 years. Alternately, wait for the housing market freefall that is scheduled to hit about 180 days from now, and buy a foreclosure or two. EDIT: Cosigning the above recommendation about maxing out a Roth IRA each and every year as well, and of course maxxing out any company-matched 401(k) options.
I've heard that the decrease in prices is expected for business housing, not so much in residential. What are your thoughts on that?
Re: Ask HN: I've saved up $80k USD. What should I do with it?
#16Whatever you do, don't follow the advice of posters here at HN. If even one of them has valid advice, it is coincidence.
Re: Ask HN: I've saved up $80k USD. What should I do with it?
#17Do you have any interest in building a startup yourself? If so, $80k will last you 4-5 years for bootstrapping if you move to a low cost area and don’t have any dependents or other expenses.
Re: Ask HN: I've saved up $80k USD. What should I do with it?
#18Well, it depends on your situation, but in general you could consider:
- Do you have high interest debts? Paying off debt is a guaranteed return.
- Can the money be invested, or is it earmarked for e.g. downpayment for a house, new car, education, or other short to mid-term purchases ? Consider your investment horizon. If it's less than 3-5 years, consider leaving it where it is.
- Can you spend it on yourself, e.g. improve your earning potential or start a business ?
- If you want to invest it in the stock market, I would not try and pick stocks, but spread it across a number of well diversified funds. I also would not spend all the money at once but e.g. aim to invest a chunk of it every month over 6-8 months
Think within the context of broader personal finance considerations, there's already a few good links in the answers.
Re: Ask HN: I've saved up $80k USD. What should I do with it?
#19Do you have any interest in building a startup yourself? If so, $80k will last you 4-5 years for bootstrapping if you move to a low cost area and don’t have any dependents or other expenses.
I have no experience with this, but I would caution about starting a startup purely because you have enough money to run it for a while.
Re: Ask HN: I've saved up $80k USD. What should I do with it?
#20What do you want? How old are you/how much career do you have left to fix a screwup? How much of a catastrophe is losing everything? Are you responsible for other people's well-being? Where are you located? How do you feel about risk? What is your housing situation?
I used a similar amount to buy a very small house in cash, but this would be considered a poor move in many ways (mortgages are pretty cheap debt). It works for me, though.