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I know things are different from 10-15 years ago. When you could invest in a business for 50k. But we women, well some of us are interested in business ideas. So why not. If a provider can save 10-20-50-100k she deserves to win at life. Why not turn this hobby into a stepping stone for entrepreneurs.
So with inflation, what are some ideas to consider.
25k
50k
100k
Throw some ideas out there. Also different loans to apply for. What is a good retirement strategy that isn't sex related.
Not sure if I'd be investing in a small business at the moment until we see what happens with the US economy (e.g. hard landing, soft landing, etc.)
I'd also probably look into a franchise, although you may need more than the listed amounts to get in. Perhaps with a partner? In something that people will spend money on even in a recession (kids or pets or alcohol). Alternately, rental property(ies), but again may need more upfront.
As to loans, small business loan from the government, although I don't know what the rates are. Personal loan, Home Equity Loan, etc. but I'm sure rates are outrageous at the moment.
As to retirement strategy, hope you've been investing in the stock market throughout your life. Time value of money / compounding interest. Although, in today's market, I'd look at T-bills or CDs paying around 5%. Very low risk and probably not much of a lower return versus equities at the moment (which have higher risk).
Use to be able to buy into a franchise at 50k. Sad how high things have went up. Many of us have missed our window. I don't know about the stock market. I've made investments in real estate, now I'm changing the type of real estate I invest in. Scary to not know how hard or soft we will fall.Quote:
Originally Posted by R1966
i dont know how you do your taxes, but before any investment into "business" everyone should have ROTH IRA and max it out. 6,5k a year tax free with compounding interest.
It depends how much you are trying to make and what are the goals. How big is your family and a lot more to consider. its very very subjective. I have been an entrepreneur since last 10 years. Online businesses, Warehouse management, Shipping services. These business will not require much investments if you know what you are doing. For an example; A multi 3rd party shipping store (where you see DHL, USPS, UPS all together) can be set up within under 40k. and can make decent money.
If you have family to help in the store. Kids who can work with you. its a family business and all can make decent money. and then move to next location once you have enough experience.
On the other hand E-commerce business. Selling online, Ebay, Amazon or shopify requires learning. Once you have enough knowledge you can hire people sitting in Philippines and invest as low as 5k and work your way up to 50k making at least 10k a month (Doing nothing) Just managing employees. (all from home)
Amazon has done some incredible things. I don't see it bottoming out.Quote:
Originally Posted by khanbera
This guy invests. Best advice imo.Quote:
Originally Posted by ChevyGuy
Picking individual stocks/investments is hard.