18 years old with $60k.. whats a lucrative business do you recommend I should learn about to start and invest in?
Please be mindful that I said "Learn"
- A.J.Lv 72 months agoFavorite Answer
Honestly, life is a marathon and increasing skills and credentials has the most value. That costs money. Eventually buying a home is a good investment. That takes down payment, credit rating, no other debt really.
As to starting a business, that has no answer because you have not stated your skills. Also, everything has competition. You have not stated what could be area opportunities.
Young people are misguided about all the things it takes to successfully run a business. Try looking into that.
Legal, accounting, licenses, marketing, supply chain if physical items, servicing, fulfilment, living expenses while growing a business to profitability.
- 2 months ago
Learn about the business before you even think about starting and investing in it.
Anyone who knows anything about business sees your $60K going "Poof!" into thin air.
Put your money away in a safe place, and get rid of the notion you're going to get good advice from clueless Yahoos on an internet message board.
- babyboomer1001Lv 72 months ago
I suggest you spend only $20k or $25k max on a business investment. The rest should be put into gold or real estate, or both. I cannot recommend any business off the top off my head. See what comes your way, weigh them, use common sense and good business sense, perhaps with the help/input of your parents (unless they are losers), and consult a business lawyer for advice, and then you make the final decision.
- Anonymous2 months ago
Where did you get $60k? Do you have large amounts coming every year for the rest of your life?
Do you have a job?
You are too young for most businesses. Id say invest monthly in an S&P 500 index fund. Maybe $5k now and $1k a month forever,
And worry about your education and a job.
If I had $60k at 18, I suspect I would have lost half of it in short order.
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- D.E.B.S.Lv 72 months ago
The best business to learn is one YOU have an interest in. I could tell you to learn to grow strawberries or about flipping houses or becoming a baker. None of that matters if you don't have any interest in that sort of thing.
- HankMoodyLv 72 months ago
you can invest in my support for the homeless crab people fund