In: Finance
Three option that you can do
1) Pay for education - If you don’t have a college degree, consider getting one in something you really enjoy, but is also marketable. If you already have a college degree, consider an even higher one, say a master’s or a PhD.
2) put the money in fixed deposit or debt investment - Some high-yield investments will give you good annual percentage yield, which is awesomer for the safe investment. You’re better off, however, putting your money in the stock market, taking on a little more risk for a higher potential reward.
3) Invest in real estate - you could take the chance of buying a rental property and becoming a landlord. But even if it works out, it’s a complete time-suck. Plus, you’re missing out on the potential rewards from investing in large-scale commercial projects. But you can have a safe investment along with small source of rental income.
What you should not do with this money
1) Do not Start your own business - I want to emphasize that starting a business is extremely risky. If you put 100 percent of your $20,000 into starting a business, there’s a strong chance it’ll fail and you’ll lose everything.Now that I’ve gotten that disclosure out of the way, starting a business can be incredibly lucrative (and fun). You just really have to know what you’re doing
2) Do not invest in stock market - It include high risk of loosing the investment if you quit the job and this is the only amount what you have then it is not safe to invest the amount in stock market.