What should I do with $3000?

What should I do with $3000?

Postby Soapy » 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.
Soapy
 
Posts: 1
Joined: Sat Sep 25, 2010 5:18 am
Top

Re: What should I do with $3000?

Postby Sandra » Sat Sep 25, 2010 5:29 am

donation
Sandra
 
Posts: 1
Joined: Sat Sep 25, 2010 5:29 am
Top

Re: What should I do with $3000?

Postby nicole » Sat Sep 25, 2010 5:43 am

Eat it.
nicole
 
Posts: 1
Joined: Sat Sep 25, 2010 5:43 am
Top

Re: What should I do with $3000?

Postby Rick_B » 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.
Rick_B
 
Posts: 2
Joined: Sat Sep 25, 2010 6:02 am
Top

Re: What should I do with $3000?

Postby Dillon » 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.
Dillon
 
Posts: 1
Joined: Sat Sep 25, 2010 6:13 am
Top

Re: What should I do with $3000?

Postby PST_Stephanie_Bred » 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
PST_Stephanie_Bred
 
Posts: 1
Joined: Sat Sep 25, 2010 6:18 am
Top

Re: What should I do with $3000?

Postby First_Place_Turtle » 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.
First_Place_Turtle
 
Posts: 1
Joined: Sat Sep 25, 2010 6:31 am
Top

Re: What should I do with $3000?

Postby Kevin_Dsouza » Sat Sep 25, 2010 6:37 am

Invest it in good mutual fund or silver
Kevin_Dsouza
 
Posts: 1
Joined: Sat Sep 25, 2010 6:37 am
Top

Re: What should I do with $3000?

Postby Patrick_K » 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
Patrick_K
 
Posts: 1
Joined: Sat Sep 25, 2010 6:57 am
Top

Re: What should I do with $3000?

Postby John_Kulla » Sat Sep 25, 2010 7:32 am

Invest in silver for this amount and you will get good result
John_Kulla
 
Posts: 1
Joined: Sat Sep 25, 2010 7:32 am
Top


Return to Investing

Who is online

Users browsing this forum: No registered users and 0 guests

cron