sudonym x
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Buy gold, your money will grow faster than stocks. |
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raringvt
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Your best bet with that amount of money is to leave it where it is. If you need it in 6-9 months stocks/mutual funds would be a very risky proposition. If you can't afford to potentially lose it, you could do just that in the stock market. It is easy to be tempted if you've had success in a stock picking game, but just as easily as you've made fantasy money, you could lose REAL money that you need for college. When I was in college the stock market was on fire (graduated in 2000). I bought a lot of individual stocks and did well for a short time---before losing almost all of it when people realized that the markets were over-valued.
If you had a 5-10 year time horizon for the money, I'd say go for it, but you don't. Play it safe, you'll need that money soon. In the meantime, take some time to learn about investing before you do it....and don't take stock tips from people on the internet! |
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rickbrokaw
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NO! keep your money in the ING account. This account guarantees you 4.3% whereas the stock market is a very dangerous place to put all of your money. If you didn't want a return immediately I would recommend a ROTH IRA fund or a Mutual Fund which will invest in multiple stocks for you. |
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beautyqueen18
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Sink it into my college and wardrobe fund. And you're only 17? Good work man, keep it up! Sorry I have nothing relevant to say. |
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Lion J
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Invest it in your education. If you were to keep it for books and classroom supplies, you can write it off as educational expenses. You will be learning all of your life, so invest in your education!!! |
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Sauce Me
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If 6-9 months is your time frame, then go ahead and buy some GOOG after its recent pullback. Buy two shares and watch it climb back up.
Or buy some call options in another company that you think might jump higher over the next 6-8 months. |
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Jonathon J
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6 to 9 months is not a whole lot of time for investing. To see any type of return in this short a period will have to be at high risk. It may even be higher then taking your money to the Casino. You may be able to find smaller start up companies with low value stock prices. This way $1000.00 will buy several shares and can hopefully grow from new releases or any type of values the entity could potentially bring to the market sector. |
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just me
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Talk to a financial advisor... |
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man_marathon
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put it in a safe deposit box |
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pompeius1
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Where to investement always depends on how much time you have before you will need to cash out, how much you have to invest and the risks you are willing to take. Based on your time lines I would consider two options:
- keep the money in your ING Direct Savings account where you seems to have a pretty fair rate
- consider a 6 month CD which could give you a slightly better rate. But you would have to lock in your money for 6 month so if you not sure when you will need it - I would go with the first option. Plus, you are really not talking about a large amount here so I would argue it's simply not worth the effort to move your money into CD
As far as the stock market - it's all about the risks you are willing to take and your skill. If you consider yourself to be a good investor and you know your stocks - sure, you can always make a few extra money. Knowing that you are going to college and will probably need this money, I would personally not recommend going into stock market now - especially considering it's speculative nature today. |
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wanglu75
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This question depends on your investment objective:
5-10% return: buy a CD
10-20% return: buy a stock in the segment of financial industry through a discount broker.
>20% return: ask a friend who is a stock-trading pro to operate the $1000 for you. |
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BIGTEX_2
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virtual stock is ALOT different than real. trust me on this. the reason ppl are better on virtual stocks is because they dont have feelings for that money. Emotion can influence you judgement. you should be safe and invest in ETF's and or mutual funds. Open a Zecco account (dirt cheap fees) |
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kookoo4travel
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Invest it in me! |
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