What should I do with $3000?
Posted: Sat Sep 25, 2010 5:18 am
If you had 3k just sitting in the bank, what would you do as far as investing or whatever? I'm 21 years old.
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What should I do with $3000?
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Posted: Sat Sep 25, 2010 5:18 am
Re: What should I do with $3000?
Posted: Sat Sep 25, 2010 5:29 am
donation
Re: What should I do with $3000?
Posted: Sat Sep 25, 2010 5:43 am
Eat it.
Re: What should I do with $3000?
Posted: Sat Sep 25, 2010 6:02 am
It would depend on the purpose of the money. If it were part of my cash emergency fund I would leave it right there in the bank where I could easily get to it in case of emergency.
If I did not want to touch it until retirement, then I would put it in a good stock mutual fund inside my ROTH IRA.
If I were saving it for a house downpayment in five years or so, I might put it in a money market account.
If I did not want to touch it until retirement, then I would put it in a good stock mutual fund inside my ROTH IRA.
If I were saving it for a house downpayment in five years or so, I might put it in a money market account.
Re: What should I do with $3000?
Posted: Sat Sep 25, 2010 6:13 am
Spend it on something you really want or something you'd enjoy or maybe go on a holiday for a couple of weeks.
Re: What should I do with $3000?
Posted: Sat Sep 25, 2010 6:18 am
You could invest it in a money market or certificate of deposit. Or you could also invest it in a mutual fund, if you are willing to take on a little risk. Check out this article to explain these types of accounts and the risks involved.
http://www.helium.com/knowledge/29062-tips-for-young-investors
http://www.helium.com/knowledge/29062-tips-for-young-investors
Re: What should I do with $3000?
Posted: Sat Sep 25, 2010 6:31 am
Your best bet is to speak with a financial advisor.
No one here can really answer that question for you, since we do not know what your time horizon is or your risk tolerance.
For example, if you needed to double your money by tomorrow and you have an extremely high tolerance for risk, then someone could advise you to gamble the $3000 at the casino.
However, if you have a very long time horizon (i.e., many years) and a very low tolerance for risk, someone could advise you to invest in U.S. Treasury Bills.
For anything in between, there's the stock market, options, futures, real estate, gold, silver, fine art, antiques, etc. etc.
Call a financial advisor.
No one here can really answer that question for you, since we do not know what your time horizon is or your risk tolerance.
For example, if you needed to double your money by tomorrow and you have an extremely high tolerance for risk, then someone could advise you to gamble the $3000 at the casino.
However, if you have a very long time horizon (i.e., many years) and a very low tolerance for risk, someone could advise you to invest in U.S. Treasury Bills.
For anything in between, there's the stock market, options, futures, real estate, gold, silver, fine art, antiques, etc. etc.
Call a financial advisor.
Re: What should I do with $3000?
Posted: Sat Sep 25, 2010 6:37 am
Invest it in good mutual fund or silver
Re: What should I do with $3000?
Posted: Sat Sep 25, 2010 6:57 am
you can turn that $3000 into $300,000 if u can use ur head.... BIG business u can do with a small investment like that r FOREX or affiliate marketing... u can buy your own guide for less than $100 and use the rest as small investments when u need to use it.. use it wisely u can turn that into millions.. i wish i had $3000, i cud've done a LOT with that
Re: What should I do with $3000?
Posted: Sat Sep 25, 2010 7:32 am
Invest in silver for this amount and you will get good result