bla bla
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So a month ago you had a mortgage and a $60K loan (according to your own question) and now you have $5000.00?
I would put the 5000.00 towards paying off your debts (if indeed there is a word of truth in anything you are saying)... or I guess you won the lottery! |
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wisegirl74
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Put it in a money market account. or an retirement account. |
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Jeff
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Debt repayment is the best use.
Do you have any credit cards, car payments, student loans, or mortgage?
After that, the next-best place to put it depends on how long you intend to keep the money invested.
Less than 5 years: Bank account.
More than 7 years: Stocks.
Which stocks: Pick 5 companies (in 5 different industries) that have done well over the last 30 years.
Pepsi
Exxon
Haliburton
Wal-Mart
For example: Wal-Mart in December 1974 traded at $15 a share. Since then, the stock has split 9 times, each two-for-one. That's a 512-1 split.
Today, that $15 share in 1974 is worth 512 shares each worth $50.78 ($26,000) Plus all the dividends. |
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STEVEN F
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Congratulations, you have an EMERGENCY fund. Think of this not as an investment to earn anything, but as an INSURANCE policy to protect you from emergencies. Put it in a money market account. The returns will be SLIGHTLY better than a savings account with nearly zero risk. DO NOT try to maximize the earnings on this money. Do that with additional money you save later. |
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hawks1690
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Hi,
The best thing to do would probably be to invest it. I know opf a good site where you will find loads of advice tips and resources which will help you.
Thanks
http://good-financial-planning.info/ |
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Dana R
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You can give it to me! :o)
I suggest a CD for a long term goal. You lose nothing. It's all gain. You just can't take it out before or you do lose. |
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Hmmmmmm
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first off you can stop bragging.
If you really want to put it to good use you can donate it to a much needed charity and have a good feeling about yourself or you could spend it all on junk and be a selfish fool. you decide |
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emmyanderson
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put it in a CD and earn money on your money easy!!!! |
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Xtina
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i would talk to a sock broker, and invest it in the market |
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zipper
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Go to your Bank and buy a five year CD. Buy US SHAVINGS BONDS. They will double your money in ten years and have tax deferment as well. Or give it to me and I will put it to good use! |
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starshyne59
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If you don't want to lose it, I would suggest a CD at your local bank as that is the safest. You could also open an IRA. It might be a good idea to talk to an accountant or CPA about your best options based on your individual situation. |
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Johnski
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BDX |
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VirtueOfIntolerance
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I'd say buy some gold.
it went from 270/ounce to over 1000 and I bet it'll go higher.
the person who said you can't lose money with the banks is nuts... I've worked for several banks, and believe me, the banks care about their own bottom line a whole hell of a lot more than yours. |
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Turkey Choke
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invest in stock or a home or start a small business |
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Kate
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Open a mutual fund; invest it! |
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<3
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if you're planning at all to invest in the stock market than i suggest investing in BANKS
you can never lose from banks |
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