iloveosu
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Do you want to maintain access to this money? I would suggest finding the best rate for a savings account that you can. Check all local banks for this information, most of it can be found online.
Can you put it aside for 1-5 years without touching it? Then I would suggest looking into a CD. These have GREAT interest rates and you will see much more growth than you will in a typical savings account. |
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infinate XOXOs
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put it in the bank or what my parents call "a disc" and then u collect lots of interest if u put money on a "disc" |
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Joe T
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Just as others said, put it into a savings account first, then invest in CDs, bonds and etc. until you are sure what you want to do. As for me it would be to use it for opening a business. Now you may not have a specific idea of what type of business you want, so you can go to college and major in business and also think of a business you will enjoy. ONce you have planned it out invest in a business idea. |
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Cricket
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I put 10,000 in a CD at the bank. Got 5.22% on it for 4 months. It's safe and secure. |
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mcmoehring@sbcglobal.net
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Put it in a college 528 account. www.americancentury.com
If you p*ss it away, you'll regret it you entire life. |
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m8g8
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My Dad's a full-time investor, and he's had some money for my which has been growing for when I'm older.
He told me that when I have it in my name, I should keep adding more money to it and if I keep any of the interest, make sure that atleast half goes back in, so it still grows.
I think that would be the best Idea. It'll be a security for the future, and then you won't have to have a pension scheme, because eventually, you'll be earning enough interest to live off it. |
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ray s
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Let me invest it for you :-) |
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Naomi
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Be sensible, that money will help you as you grow up. when i was 12 i got £35,000. i put it in a secrity bond. 1/2 of it i couldn't touch till i was 18 and the other half in a high interest account that i needed my mother to sign for to withdraw any of it. Of course i kept a bit back to spoil my self with but that money went towards my college fee's, has put a nice deposit against a house and brought me a brand new car. But only you know what you want to spend the money on. Most banks will talk to you about there options of savings and bonds |
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fchyenne
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wow lucky you!
go to the casino and try and double it...just kidding
invest it...ask a financial adviser...a reputable one |
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Random_D
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Well it depends on how much risk you want to take. If you want to take a big risk then learn about the stock market and invest in what you think will be most profitable. If you want something a little less risky go with a mutual fund. If you want really high interest with no risk at all, open an ING direct savings account, you make about 5% a year, which in your case would be 1 grand a year. Read their FAQ: www.ingdirect.com |
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I'll answer your question
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Get your college education so you can know more about what you're dealing with. Business can be mean. Don't be that 5 year old who gets 10 bucks for his birthday and buys pokemon cards : ) know what you're doing first, and get a complete education. |
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DanHants
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Go and speak to someone at the bank.
Something like a high interest account, it might even be worth locking the account until you are old enough for driving lessons etc....
That way you can't be tempted to spend it, maybe but a grand into a current account that you can spend.. |
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wiremu
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Pay for your College with it get a good education and get a great job earning great money and have a great future |
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Freelancer
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as a teenager...deposit it with a reputable bank. Lock it in with conditions, on fixed term and then forget you have it for at least that term... |
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ghettoballzofiron
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dude ok go buy a nice race car like a 68-72 gto and get the new exhaust and put a new hemi in it (rebuild it yourself) and put nitrous in it, and and automatic transmission (important) if it doesn't have one. should total to about 5 grand. Then sand it down nice and smoothe and get a earl shibe paint job for about a grand, see if you can get racing stripes. Go to the local illeagal underground drag race and kick some *** and get some cars for winning, and you make that money money ya! |
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