If you had $5000 to invest in what will you do ?

[NDENT2003]

As the topic says.

Lets say you got a extra $5000 & you wanna invest that so you can make some nice $$$ back what will you invest in ?

A buddy of mines is getting his hands on some $$$ & doesn't know what to do with it.

No funny post like he can give it to me lol.

I really wanna help the guy out & dont want him to blow it all on some toys for his car & other junk stuff.

Here's what i told him to do -

Buy acouple of cd duplicators & cd printers & start up a small duplication company as we know alot of local rappers whos always looking to get some demos done & i think he can make some nice $$$ back.

Lmk what you guys will do.

 

[thirtythree]

I'd save it for college.

 

[bigshooter]

How old is he? Does he have any debt? The best thing to do is get rid of ALL debt, as the interest rate on almost everything is higher than the return you get on most safe investments.

 

[NDENT2003]

He's i think 22 & has no debts.

I've also been thinking on adding another $5000 with him & try to do something but i'm lost myself on what to do.

 

[cavemanmoron]

Originally posted by: NDENT2003
He's i think 22 & has no debts.

I've also been thinking on adding another $5000 with him & try to do something but i'm lost myself on what to do.

buy property that you can rent out,?



buy a classic car that needs some tlc,and resell after cleaning it,etc?

like 1970,71,72 Chevelle big block cars are good movers

or 1st generation Camaros,

 

[Vette73]

Right now Rates are to low on CD's and other safe investments. Go to a good size bank and try and get something 2% or higher that will mature in 6 months. That way the money is safe and every 6 months you can check up and see if there is anything better, if there is move it. If not just leave it there.

 

[NikPreviousAcct]

I would buy property and rent it out, while working a steady job. With that money, save up for yet another property to buy and rent out. I know a family that has 12 properties doing it that way. They're filthy rich.

 

[BillGates]

buy toys

 

[NDENT2003]

Yeah the buying property is a great idea but you gotta have good credit for something like that.

 

[cliftonite]

Am I missing something? Rental property for $5000? Where can I find it.

 

[Kevin]

What kind of property can you get for $5K? I believe funeral plots here are like $6K...

 

pay off the rest of my car

 

[TechnoKid]

If I had 5k I'd buy bonds, wait the number or so of years, and have a guaranteed return, although, there is a wait for that return, and often about 30yrs.

Or, I'd buy that many lotto tickets.

 

[silverpig]

Strippers and booze.

Spend $5k on a weekend of fun and the memories will be priceless.

 

[NDENT2003]

Originally posted by: silverpig
Strippers and booze.

Spend $5k on a weekend of fun and the memories will be priceless.

$5k might get you a weekend with jenna jamison or something

 

[Ocuflox]

529 college scholar savings program

 

[NDENT2003]

Any good ideas people to make some $$$ back & fast.

 

[PCMarine]

$5000 could multiply rapidly if you or your buddy knows how to day trade.

 

[gopunk]

put 3k of it into roth ira, buy vanguard sp500

 

[NDENT2003]

Originally posted by: gopunk
put 3k of it into roth ira, buy vanguard sp500

what is that ?

 

Savings bonds.

 

[Cyberian]

Originally posted by: silverpig
Strippers and booze.

Spend $5k on a weekend of fun and the memories will be priceless.

And may possibly last you a lifetime!

 

[gopunk]

Originally posted by: NDENT2003

Originally posted by: gopunk
put 3k of it into roth ira, buy vanguard sp500

what is that ?

oh sorry, i don't think that's the actual name of the fund, but i was referring to the index fund that mirrors the s&p 500 that vanguard offers.

 

[ManSnake]

Play high stake blackjack, you have a little less than a 50% chance of doubling your money in one round.

 

[glen]

edukation