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Fazdli84 | What can i do with my $8000? |
Should i just leave it in my bank? Should i buy some funds? It would be better if i could get higher returns as well... |
 |
 
SNW
|
Faz,
First, if your money is in the bank right now, make sure it is in a high interest bearing account (such as ING). Second, the $8000 you have is merely your reserves cash. (This is not a put down). What you might want to do is start building your foundation. Use that $8000 to leverage larger lines of credit from credit unions and banks. With a bit of cash and a strong credit score, you can amass a $50k-$75k line of credit. If you are a disciplined person, and can invest that money in appreciating assets such as real estate, you can increase your returns from 5% (your bank) to 100's% ROI (because it's not your money).
I don't want to get ahead of myself. Don't believe that just because you have only $8000, you are limited to what you can do with it. You are only limited to your imagination. Think big, and big things will happen. Educate yourself, (I don't mean go back to school full time, or spend thousands of dollars on educational material, but instead of watching TV at night, go to a book store and read a book, for free, on investing. Join an investment club, they are free, and you can network and find other people to help you on your way.) Ask many questions and fill your head with as much knowledge as possible.
You have the choice....become a millionaire in 5 years, or make 5%-8% return on $8,000 in the bank account.
Happy Hunting |
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elidet_reyes
|
Leaving it in the bank is not a good idea.
I recommend getting a personal financial advisor. Through AIG, you can get one, and best of all, it's free.
They set you up for your future.
A good way is to invest in mutual funds. If you need to keep it in the bank for easy access, when you get to $10,000, get a liquid CD account.
The best thing to do is get a financial advisor.
If you live in the valley near the LA area, I know a great one. Doesn't cost a thing, it's your money, they just help you manage it. |
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NBA BALLER
 |
maybe invest half in stocks and save the rest in your bank account |
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Geeeyaaa
|
Consult your financial adviser.
It really depends on what you want in return.
Banks can give you an average of 5% return with little or no risk. ( $ 300.00 a year with 8k invested)
Mutual funds are riskier and can give you a higher return rate than a savings or cd account.
Stocks are risky and you can earn 100 bucks or more a day with your money if you know what you're doing. Buy low sell high at a discount brokerage. |
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jackie
 |
if you don't plan on using it any time soon, put it in to a CD or go to a bank and talk to an investment specialist. they will be able to help you with the money. |
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crashoverride
|
Make some investments on different businesses so that your money multiplies and will never be lost. |
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bhalpern123
 |
Invest in a retirement date mutual fund with low fees. Try Vanguard or T. Rowe Price. |
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Scenic Point
 |
buy up a whole life insurance policy with it that you won't have to make future payments on or, very small payments. then, you can cash in or, borrow money off that policy in the future. |
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dimitardimitrov2005
 |
go to vegas |
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†ღ†Jules†ღâ€
|
I would use that money and put down a deposit on a house. |
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jytopy
|
high returns come with high risks.
if you want to play save, leave it in a long term deposite where you can get higher interests. else if you want money fast, invest in stocks. but advise you not to put all your 8000 bucks in. |
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Seduce A Stranger :]
|
You should buy me something pretty. :] Kidding, of coarse. I would just leave it in the bank. You never know when you're gonna need some money for any reason, it's good to know it's there. And plus, it gathers intrest. Good luck, love! |
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Harmon
 |
Pay off your bills and invest the rest in the stock market. |
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christineherson
 |
Can you get a term deposit with your bank? They usually have good returns. |
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David
|
Invest it in Forex. I work online and my income is at least 35$ an hour. I participate in forex online. If u are interested
in forex, i can recommend you one of the most useful
website about forex. See below:
www .best-ranks. com/forex.htm |
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Captain Trips
|
You send send it to me. |
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Veronica
 |
PASS IT TO ME ;) |
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