How to Invest $10,000 in 2021 (DOLLAR-COST AVERAGING VS LUMP SUM INVESTING)
Imagine you have 10,000 dollars of money available right now. You saved it up over time, you received a bonus at work or you inherited that money - it doesn’t matter. 10,000 dollars is a large amount and it could end up making you even more money in the long-term if you use it correctly. The question of what to do with a lump sum of money. Should you jump straight into investing? How should you invest it? Splitting the money up into multiple chunks and essentially using the dollar-cost averaging strategy or investing everything in one go? Before you invest that money, should you first repay your credit card debt or build up an emergency fund in case you have an unexpected life situation? In short: What would be the order to follow if you have 10,000 dollars? In this video, we will look at 4 different life situations and what to do with a lump sum of money in each life situation. This video is ranked by priority - so the first option has the highest priority. After you have watched this video, you will understand how to get the most out of your 10,000 dollars in your specific life situation. Enjoy! ⏰⏰ Timecodes ⏰⏰ 0:00 Intro 0:48 Priority No 1: Pay Off Bad Debt 2:17 Priority No 2: Build Up Emergency Fund 3:25 Priority No 3: Tax Efficient Retirement Accounts 3:52 Priority No 3A: 401k 4:54 Priority No 3B: HSA 5:40 Priority No 3C: Roth IRA 6:38 Priority No 4: Investing in ETFs 8:57 What About Investing in Individual Stocks? 9:39 Summary 👉 SUBSCRIBE for more free financial education that will help you to build long-term wealth: https://www.youtube.com/channel/UCRg3HEhj1yqSKEuSp900kIg?sub_confirmation=1 📷 FOLLOW me on Instagram to get even more financial education: https://www.instagram.com/fu.academy/ DISCLAIMER: This video is for educational purposes only and merely cites my own personal opinion. In order to make the best financial decision that suits your own needs, you must conduct your own thorough research and seek the advice of a licensed financial advisor if necessary. #LumpSum #LumpSumInvesging #DollarCostAveraging #FinancialEducation #PersonalFinance #FinancialIndependenceRetireEarly #FinancialIndependenceRetiringEarly #DebtFree #FinancialGoals #EmergencyFund #DebtFreeJourney #ChooseFI #401k #HSA #RothIRA
Imagine you have 10,000 dollars of money available right now. You saved it up over time, you received a bonus at work or you inherited that money - it doesn’t matter. 10,000 dollars is a large amount and it could end up making you even more money in the long-term if you use it correctly. The question of what to do with a lump sum of money. Should you jump straight into investing? How should you invest it? Splitting the money up into multiple chunks and essentially using the dollar-cost averaging strategy or investing everything in one go? Before you invest that money, should you first repay your credit card debt or build up an emergency fund in case you have an unexpected life situation? In short: What would be the order to follow if you have 10,000 dollars? In this video, we will look at 4 different life situations and what to do with a lump sum of money in each life situation. This video is ranked by priority - so the first option has the highest priority. After you have watched this video, you will understand how to get the most out of your 10,000 dollars in your specific life situation. Enjoy! ⏰⏰ Timecodes ⏰⏰ 0:00 Intro 0:48 Priority No 1: Pay Off Bad Debt 2:17 Priority No 2: Build Up Emergency Fund 3:25 Priority No 3: Tax Efficient Retirement Accounts 3:52 Priority No 3A: 401k 4:54 Priority No 3B: HSA 5:40 Priority No 3C: Roth IRA 6:38 Priority No 4: Investing in ETFs 8:57 What About Investing in Individual Stocks? 9:39 Summary 👉 SUBSCRIBE for more free financial education that will help you to build long-term wealth: https://www.youtube.com/channel/UCRg3HEhj1yqSKEuSp900kIg?sub_confirmation=1 📷 FOLLOW me on Instagram to get even more financial education: https://www.instagram.com/fu.academy/ DISCLAIMER: This video is for educational purposes only and merely cites my own personal opinion. In order to make the best financial decision that suits your own needs, you must conduct your own thorough research and seek the advice of a licensed financial advisor if necessary. #LumpSum #LumpSumInvesging #DollarCostAveraging #FinancialEducation #PersonalFinance #FinancialIndependenceRetireEarly #FinancialIndependenceRetiringEarly #DebtFree #FinancialGoals #EmergencyFund #DebtFreeJourney #ChooseFI #401k #HSA #RothIRA