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.
I think if 20k meets the type of business you dream of, then depending on your friend's job, continue to keep 15k in your savings book and try to save another 5k. This is safer and more practical. Also, borrow $5k or my additional opinion is save $15k in bitcoin and you keep your job because bitcoin is uniquely trusted and carries absolutely no risk.