How to invest $5,000

[TitanDiddly]

Invest in 5G Technologies. ZOOM!!!!

 

[mugs]

Originally posted by: Hector13

Originally posted by: JohnCU

Originally posted by: Hector13

Originally posted by: Skoorb

Originally posted by: JohnCU
Open an IRA and invest in a solid, no-load, growth mutual fund.

Yep.

Nope... i don't know why people have such a fascination with IRA accounts.. sure, they are great ways to invest for retirement (duh!)... but you can't touch the money till you are 60!!! (except for some specific situations)

For most people, unless you have plenty saved, liquidity is much more important than the potential tax savings from an IRA.

Umm, that is the whole point of savings: DON'T TOUCH IT. A Roth IRA grows tax free, that is this guy's best bet.

Although, it is always a good idea to have a money market account for emergencies.

sh*t, why bother having money then?

I don't know about you, but the only reason I invest is so that I can have more money later to spend.

And, you have to remember your personal "time value of money". To me, having 10k now (when I am 25) is woth a buttload more than having 20k when I am 60 and can't have any fun with the money.

So, you'd rather have to work when you're in your 60s rather than retiring, just so you can have some extra money now? No one's saying you shouldn't ever touch any of the money you save, but not saving for retirement is idiotic.

 

[Chu]

Originally posted by: blazert40
My grandfather gave me $5,000 and said to invest it well. I have no clue what to do with it that won't be a total waste. I've never received this amount of money from anyone before. I'm looking for real advice on what would be a good way to invest the money and get a decent return on it.

Any ideas, or advice for ones who have done something with the same amount?

1. If you have any high interest debts, pay them off. If you have any debts over 4%, pay those off next.

2. If your in "the real world," stuff some away for an emergancy.

3. If you have any left, don't ask asshats on anandtech about what to do with your money 😉 Personally though, I would invest in the euro.

-Chu

 

[Hector13]

Originally posted by: Chu
3. If you have any left, don't ask asshats on anandtech about what to do with your money 😉 Personally though, I would invest in the euro.

hope you didn't bet on the euro today... it got crushed after the job numbers this morning.

 

[Chu]

Originally posted by: Hector13

Originally posted by: Chu
3. If you have any left, don't ask asshats on anandtech about what to do with your money 😉 Personally though, I would invest in the euro.

hope you didn't bet on the euro today... it got crushed after the job numbers this morning.

😉

 

[PHiuR]

get spinnazzzzzzz for your pimped out ride.

 

[astroview]

Pay off the CC debt, then open a roth IRA, and then put anything left over in a bank account. (no emergency savings req'd if you're not in the "real world," i.e. if you still live with the rents and they pay for everything emergency funds can hold off a bit)

And stop using that Credit Card!