Comment on What can I do with US$10K that is a good investment?
walter_wiggles@lemmy.nz 1 month ago
High yield savings account at SoFi or Ally Bank will give you 4% right now.
$10,000 at 4% gives you $400 interest in one year.
Just about any decent dividend stock will outperform that. Look at PET for example. It is sitting at $3.65/share right now and offers a quarterly dividend of $0.30. That puts you at $1.20/share per year. 10k = 2739 shares = $3,286.80 dividend payout in one year.
Banks are the worst place to put investments. Money in bank accounts are only supposed to be there if you need it liquid, like an emergency fund or your checking account.
Baby steps. Asking someone to go from nothing to investing in stocks is quite a leap.
PET? What stock are you talking about?
PETS, sorry, don’t know why my phone cut off the ‘S’.
I just checked the top 3 companies there and every share price is through the floor lol
How much do you personally have invested in stocks like these?
Little under 30k. Bring in about 800 a month.
Ive thought about doing that with my IRA, had the market negatively impacted your yields at all?
ex-date chasing
Don’t they call that “stalking”?
Sofi isnt a bank.
hddsx@lemmy.ca 1 month ago
No offense, but that sounds like a terrible idea.
wallethub.com/profile/pl/sofi-13798023i
wallethub.com/profile/ally-bank-13000140i