Lux Investing

What is the best "high yield" investment with $8000?

I have $8000 cash to invest but I'm new to investing. What are some "high yield" investment strategies? I am not currently employed so I have some time to devote to this task. I would ideally like to create a snowball effect of earning on this $8000 and continue to make money investing rather than working a 9-5. Any suggestions? please explain the strategy, its return on investment, and its risks. Thank you.

Public Comments

1. buy 8-16 lbs of weed. break it off into dimes eighths and quarters. sell for up to quadruple what you paid for it. make your money back rinse repeat.
2. Dude just stick it in your coffee can
3. The best place to invest your money is in yourself. The rate of return from investing in your own knowledge and skills will be much higher than anything you’ll see from stocks, real estate, or other investments. In some cases you can even measure the rate of return. Say you buy a book. Even add in the cost of your average hourly rate multiplied by the time it took you to read it. Many books will be lousy. But every once in a while, you’ll get one good idea that gives you a huge rate of return. Like 10x the cost in a matter of months. This is especially true with business and personal productivity books. But often it isn’t a breakthrough idea but rather the continuous exposure to the same ideas presented in different ways that produces a steady return over time. And the results go way beyond monetary. If investing in your own knowledge finally gives you the idea you need to quit smoking, you can measure the lifetime financial savings in the cost of cigarettes, but what is the increased level of health worth to you? What is the idea that allows you to meet and connect with your future spouse worth? What is shedding 50 pounds of fat and knowing you can keep it off the rest of your life worth? What is building a career that totally fulfills you worth? A trick I learned from Brian Tracy is to invest 3% of your income on your own personal development. I don’t know why he specifically uses 3%, but that seems about right to me. So if you earn $5000 per month, you’d invest just $150 per month on your own personal development. You could buy about 10 paperback business or self-help books; those are typically $12-16 each (but that’s a lot to read in a month). Or you could order about 3 six-cassette or six-CD audio programs; those are usually around $50-60 each, often $20-30 if you buy them used. Or that $150 could go toward the cost of a seminar or conference.
4. Take $7000 and stick it into a money market fund that earns 4-5% Take the other 1000 and investing in buy and selling options.