Topic: What would you do in this situation? Invest or save? - page 13. (Read 1566 times)
legendary
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It depends on the specific situation and the type of business. Since you say in option 2 that you would get the money over a long period of time, I would opt for option 1, start the business smaller and gradually grow. There would be a third option, which I see he has not considered, which would be to take out a loan for that $5,000, which I am not a fan of because it adds risk and costs right from the start of the business but it is very common nowadays.
If you have plans to start a dream business that requires a capital of $20,000 and you were able to make a savings of $15,000 which obviously isn't enough to start up the business, what would be your decision or advice?
1. Invest the $15,000 into a smaller business hoping that the returns will yield the remaining $15,000 in a short period. Note that this has the potential of failing and wasting the already-saved $15,000.
2. Keep the $15,000 while doing other work that will yield the remaining money over a long period.
Would love to see your input or a better suggestion apart from the ones I pointed out above.
N/B
This is the typical situation a friend finds himself and we are just brainstorming in what best to do.
1. Invest the $15,000 into a smaller business hoping that the returns will yield the remaining $15,000 in a short period. Note that this has the potential of failing and wasting the already-saved $15,000.
2. Keep the $15,000 while doing other work that will yield the remaining money over a long period.
Would love to see your input or a better suggestion apart from the ones I pointed out above.
N/B
This is the typical situation a friend finds himself and we are just brainstorming in what best to do.
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