forgivebutdonotforget911
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If you want a SURE THING. then buy a CD with the money. As long as you do not take it out, you have a guaranteed return on your money. It may not be much, but it is a sure thing.
Usually a sure thing, buy some farm or ranch land near a growing town. It will take 10-20 years, but the value of the land will only go up and all you have to do is pay farm/ranch land taxes on it.
Right now a lot of people who tried to flip houses are wishing they didn't as the housing market has gone down the tubes. Since it is a buyers market right now, you might be able to find a good home cheap from a bank foreclosure. Remember though, taxes on homes are quite a bit higher than empty land.
If you want something a bit more risky, buy mutual funds, where the risk is spread out over a number of different stocks. A Standard and Poor 500 fund is usually a safe bet in the long run.
If you really want to take a risk, consider buying collectibles. Antique gold coins are often good as they hold their value because they are antique vs being just gold. Where a Canadian Maple Leaf will go up and down with the price of gold, a 100 year old Double Eagle will hold its value better. Antique rifles are also fun.
The Biggest risk is to pretend you are a stock market whiz and buy a bunch of one stock and it goes down the tube. (Planet Hollywood for example, started around $15 and now is about worthless.)
My personal advice. Put $10,000 in a long term CD with the best rate you can find. Put another $10,000 into land. Put another $5000 in a S+P 500 Science and Technology fund. Then sit back and do not get antsy over how the stocks do, just wait it out. By dividing your assets, if one does bad, you at least got the others as back ups.
A sure |
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