Question: What Should I Do With 20k?

How can I double my money?

Here are some options to double your money:Tax-free Bonds.

Initially tax- free bonds were issued only in specific periods.

Kisan Vikas Patra (KVP) …

Corporate Deposits/Non-Convertible Debentures (NCD) …

National Savings Certificates.

Bank Fixed Deposits.

Public Provident Fund (PPF) …

Mutual Funds (MFs) …

Gold ETFs.More items….

What should you do with 50k?

Whatever it takes.Pay off the credit and medical debt.Put 8 months expenses aside in a savings account as an emergency fund.Buy a reliable used car, 3 years old, Honda, Toyota. … Invest the maximum amount for the year in a Roth IRA in an S&P 500 index fund.More items…•

What can I do with an extra 20k?

How To Invest 20kBuy Stocks. Getting hold of stocks is very easy. … Invest in Cryptocurrency. Cryptocurrency is a great way to invest your cash, especially if you have 20k. … Start A Business. A business is a huge investment. … Put Money in the Bank. A fixed-term deposit is similar to a savings account.

What should I do with 20k Reddit?

Unsure on what to do now? 25, with 20k in savings.Write a budget. … Pay off any debt (other than a mortgage) ASAP.Get your full 401(k) match from your employer.Save up an emergency fund: I like ~6 months of cost of living expenses, some do 3 months, some do more.Once your emergency fund is built I’d up your 401(k) contribution to 15-20% of your income.More items…•

What is the best investment for 20000?

Gold is a safe-haven asset, but has also outperformed many other investment vehicles in recent years, making it one of the best ways to invest 20k. In terms of return on investment, gold is one of the best options to back, especially considering it has much lower risk than other assets.

What will 20k be worth in 20 years?

How much will an investment of $20,000 be worth in the future? At the end of 20 years, your savings will have grown to $64,143.