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acqz t1_jdfr65o wrote

Bonds. Treasury bills are the safest financial instrument after cash and backed by the full strength of the US government. Never been a better time to invest in bonds now that the interest rates are so high.

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SuccessfulManifests OP t1_jdfr8ba wrote

What's the catch with this though?

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acqz t1_jdfrxt7 wrote

Your money is tied up for 1 month, 3 months, 6 months, 2 years or however long the maturity is of the bond you buy. Normally the longer the maturity, the more interest you get, but we're in an anomalous period where the 6 months T-bill is currently paying the most interest of all.

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Brave_Forever_6526 t1_jdfv6p5 wrote

Buy stock in s&p and don’t touch it, it’s only gambling if you try and time the market it’s investing when you put time in the market

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shliam t1_jdfoetv wrote

While it’s understandable that stocks and crypto can feel like gambling, it runs contrary to that to say you don’t have the time or patience.

The value returned is a result of combing time and risk. You can either take high risk/low time investments; low risk/long time investments, or somewhere in between

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GraniteMaultothedome t1_jdfso7t wrote

Open a new credit card and use it responsibly by paying for everyday things you'd normally pay for and take advantage of the introductory benefits (not all have them). Some give you cash back after spending a certain amount. So if you pay your phone and utility bills, groceries, etc, you can easily save a few hundred dollars.

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Loud_Vermicelli9128 t1_jdfnry7 wrote

Online savings account. Money is insured to $250,000 and currently get 3+% interest a month. Doesn’t get much safer than that.

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SuccessfulManifests OP t1_jdfokkt wrote

Sorry I'm confused. What do you mean by this?

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[deleted] t1_jdfrqqk wrote

Pretty much telling you get a job and put your money in a savings account provided by a bank or credit union. It’s a “safe” bet.

At the end of the day, what you’re asking is not possible.

Every possible route to building wealth requires a level of risk. This person is telling you the safest way to make money is earn a living a put those earnings in a savings account (bank or credit union)

It’s safe because the risk is trusting a bank will A.) have your money when you ask for it B.) Add 3% of what you save to your account every month And C.) the federal reserve will bail them out if they don’t have your money, and compensate your money, as long as you didn’t save more that $250,000

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keepthetips t1_jdfmkad wrote

Hello and welcome to r/LifeProTips!

Please help us decide if this post is a good fit for the subreddit by up or downvoting this comment.

If you think that this is great advice to improve your life, please upvote. If you think this doesn't help you in any way, please downvote. If you don't care, leave it for the others to decide.

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Ryane39 t1_jdfn1yl wrote

There is no “easy” way. It’s all a gamble if you aren’t willing to put the work in to learn about how the game works. You really want set it and forget it, go get a high interest savings account from Marcus Goldman Sachs or Ally.

Or, learn about a topic enough to confidently invest.

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MrKahnberg t1_jdfv4zm wrote

If you're in the US start a Vanguard account. Tell them your risk tolerance and goals and they'll give you recommendations. Source, started our Vanguard account in 1980.

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Kpt1NSANO t1_jdg1e0s wrote

If you want to multiply your money without patience, you're going to have a bad time. Maybe start a side hustle or small business, at least then your fate is moreso in your own hands?

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Original-Ad-4642 t1_jdg4qzd wrote

I recommend you learn how the stock market actually works before you dismiss it as gambling.

r/personalfinance has great resources. The Money Guy has great stuff as well.

Source: I have a master’s degree in finance.

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RascalRibs t1_jdfn6qs wrote

The stock market isn't really gambling.

And you can make money through online sportsbetting if it's legal in your state, and this is also not gambling if you do it right and just hedge the promotional offers.

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FelixVulgaris t1_jdfxqxx wrote

I have to point out that no matter how safe your betting strategy, there us absolutely no circumstance where sports betting ISN'T gambling. It may feel like safe gambling because you know a lot about it and you're using tried and true strategies, but it is stil gambling.

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RascalRibs t1_jdg0lvw wrote

No, it's not. Look up matched betting.

It's amazing how people who aren't educated on the subject quickly jump to that conclusion.

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