10 Things You Would Use $10,000 for If You Had it Right Now. 

Many people use some extra cash, whether it be paying off debt, looking for other investments, or simpling saving it. If you had $10,000 right now, how would you use it? On an online forum, many posters commented with opinions on how they would use $10,000 right now.

1. Student Loans

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Student loans may be the bane of our existence as schools get more expensive, and these loans hang over our heads as we look for jobs and try to start our financial future on the right foot. An extra $10,000 can knock these loans out and start life with no debt. 

2. ETFs

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An exchange-traded fund, or ETF, is a great investment tool to help create wealth. Investing can be simpler by investing in a low-cost index fund ETF or simply going with an S&P 500 ETF that allows investors to have returns equal to the market. $10,000 can be a great way to continue that investment journey. 

3. Real Estate

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Real estate is a great way to invest your money if you have a strategy for navigating everything. $10,000 may not be as much money as it once was, but one poster put it this way, “Save it until you hit $25000, get a duplex on an FHA loan with a 5% down payment, move in and then rent the other half the amount that it costs to pay the mortgage.”

The beauty of having a little cash is taking advantage of opportunities. Buying a duplex and living in half of it gives you a house and a property to rent the other half. Now you are house hacking and getting some cash flow to pay off that mortgage. 

4. Savings Account

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A good emergency fund starts with putting your money away in a savings account to earn interest. As interest rates have risen, you can get a reasonable rate from 3.75%-4.5% or even higher. If you do not need the $10,000 right now, you can put it away for a rainy day or when an opportunity arises. 

5. The Mortgage

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People like to get rid of debt as soon as possible. It makes sense. If you have a higher mortgage rate on your property, the better use of your money could be to lower that principal and pay off the loan sooner. Less principle on the property means fewer interest payments that you will have to pay. 

6. SCHD or Other Dividend ETFs

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SCHD is a popular dividend ETF that allows people to get similar returns as an S&P 500 ETF, with a larger dividend yield. That is good news for those dividend investors out there. So if you are looking for a good dividend ETF, SCHD could be your go-to pick. 

7. Certificate of Deposit

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A Certificate of Deposit or CD has come a long way since low-interest rates. With interest rates much higher, you can snag a CD for 5%. That means your money will continue to earn instead of sitting in your bank account not gaining too much. One poster mentioned, “I just bought a $10k CD with a 5% one-year return.”

8. Index Funds

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Like ETFs, index funds offer investors low-cost investment vehicles that can help them get a decent return. Vanguard, Fidelity, and Schwab make some of the best low-cost index funds. So if you are looking for a simple investment with a market return, look at an index fund to put that $10,000. 

9. Reducing Debt

Benefits of an emergency fund

Debt can cripple your financial future. One of the best things to do with your $10,000 is to reduce your accumulated debt. The more you can reduce, the faster it will be paid off, and then you can use your money for other investment opportunities. 

10. Cryptocurrency

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Some people are into cryptocurrency to make money or hold it as an asset. You could invest in some crypto. One poster shared their strategy, “It would be a 50/50 split between Bitcoin and Ethereum. Easy 5x returns within the next 13-15 months as long as you start selling once BTC hits $150k and don't get greedy.” This is a strategy that the poster will do, but we never know what cryptocurrency could do in the future. 

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Why stealth Wealth
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Vanguard ETFs for a Comfortable Retirement
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For more ways, check out this thread.

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