just came into $1000 this week. What's fastest *legitimate* way to get a return?

[RIGorous1]

I luckily came into $1000 from an inheritance and I seriously don't know what to do with it. I was thinking of putting it in the bank for a retirement fund however I'm only 21 right now and that's a long ways off. I'm considering alternatives; however I wanted to hear from you guys about how to turn this $1000 into $1500 or $2000 quick?

so what do you think put it in the bank or invest it on something for a greater return?

what should I invest it in? a laptop from HD and sell on Egay? find a reseller and buy something in bulk then sell it off?

Legitimate ideas welcome, please stay away from reference to drugs or prostitution as we all know where those roads lead to...

 

[AvesPKS]

Start loansharking at 50% interest.

 

[z0mb13]

dump it in red in a roulette table

 

[notfred]

Down payment on a motorcycle.

 

[dquan97]

Buy I-bonds with a rewards card and hold it for 1yr.

 

[mjquilly]

1) PAY OFF ANY (CREDIT CARD) DEBT
2) lotsa choices....get edge-a-ma-cated

don't expect to get gain 50-100% quick

 

[RIGorous1]

Originally posted by: z0mb13
dump it in red in a roulette table

why not black? I actually thought about doing this last time I went to vegas, but don't you think that they might kick me out if I win? not to mention all the weird looks I'd get for being a "high roller" and making a wussy bet

 

[Kyteland]

Originally posted by: z0mb13
dump it in red in a roulette table

And what, only have a 47.37% chance of winning? There are much better investments then that...

 

[Amorphus]

mutual funds, start preparing early, your "I'm-only-21" is stupid. besides, the earlier you start, the more money you can spend on yourself when your children dump you in a nursing home and you're incapable of erections and mastication.

 

[TheNinja]

$1000 really isn't that much. I'd put it in the bank, a CD, or retirement.....compound interest is your friend. Or use it to gamble on sports.

 

[Howard]

Originally posted by: Amorphus
mutual funds, start preparing early, your "I'm-only-21" is stupid. besides, the earlier you start, the more money you can spend on yourself when your children dump you in a nursing home and you're incapable of chewing and erections.

Try "incapable of erections and mastication."

 

[RIGorous1]

Originally posted by: Staley8
$1000 really isn't that much. I'd put it in the bank, a CD, or retirement.....compound interest is your friend. Or use it to gamble on sports.

bet against the yankees?

(runs away now before he gets stoned)

 

[ggavinmoss]

Blackjack.

-geoff

 

[fonzinator]

Well...here's a few ideas. You could throw it in a ING money market account paying 2% annual interest.

OR

You could open a Roth IRA (tax-exempt) and throw it in there. At 10% interest, and never depositing another dime, say hello to $66,149.84 when you are 55.

If you have no bad debt to pay off, I would go for the second choice if I were you. OR, you could invest in an aggressive fund or stock of your choice (taxable).

 

[DT4K]

Personally, if I had 1000 to play with, I'd probably open an Ameritrade account and have some picking a couple of stocks.
If you want to spread your risk more, buy some shares in a couple of different solid mutual funds.
Historically, the stock market has averaged 10% a year or something like that over the LONG TERM.

Basically, you can settle for 2% and be guaranteed, hope for around 10% and be moderately safe, or go for high returns (50%) by playing the market and guessing which companies will be the big winners this year, and risk losing it all.

 

[z0mb13]

Originally posted by: Kyteland

Originally posted by: z0mb13
dump it in red in a roulette table

And what, only have a 47.37% chance of winning? There are much better investments then that...

well he did ask the FASTEST way....

 

[AgaBoogaBoo]

Invest it for LONG TERM

 

[v3rrv3]

You're going about it all wrong. Wesley Snipes once said "Always bet on black" duh

- Kevin

 

[Futher]

You could always find a red hot deal in a local retailer (such as price matches, rebates, etc.) Get as much as the product as you can, have friends help buy if you're limited to one, then resell. That should get you some quick and guaranteed profit. Make sure the product is going for more than what you're going to end up paying.

 

[glenn1]

There's no sure-fire way to "quickly" double or triple your money. Besides, what are you plans did you have for $2,000 that you can't accomplish with $1,000? Either spend it now and be done with it, or invest it for the long-term with a reasonable return expectation. Hoping to make a "quick score" will make it almost a guaranteed certainly of you being played for a sucker and losing it all.

 

[Futher]

Anyone know the best place to invest in the short run? Short as in 2-3 years, where I could put a reasonable amount of money in and get a fairly high return rate? Lets assume I have 7 grand to invest.

 

[SammyBoy]

Originally posted by: RIGorous1

Originally posted by: z0mb13
dump it in red in a roulette table

why not black? I actually thought about doing this last time I went to vegas, but don't you think that they might kick me out if I win? not to mention all the weird looks I'd get for being a "high roller" and making a wussy bet

lol, IF you win 1000 bucks at a casino, you think they kick you out? wishful thinking man, they kill you on the spot and sell your remains to homeless people to EAT. Dumbass.

 

[dnuggett]

Kick you out of a Vegas casino for winning a grand. LOL!!! Like no one has won a grand before. Stay away from Vegas.... you don't have the necessary beans to play there.

 

[alkemyst]

Originally posted by: dnuggett
Kick you out of a Vegas casino for winning a grand. LOL!!! Like no one has won a grand before. Stay away from Vegas.... you don't have the necessary beans to play there.

Yeah $1000 you win chances are by the end of the night they will get it back....

$1000 on the table for a one time bet won't even get an eye batted....it's actually a common thing to see whole paychecks being bet (any payday is crazy at a casino)...

At some casinos you need to be betting $1000 for an hour straight to even get a decent comp

If I got handed $1000, I would pay off a CC or put in into my school loans. If you are carrying any CC debt that is not paid off each month investing is sort of pointless.

 

[fonzinator]

Originally posted by: Futher
Anyone know the best place to invest in the short run? Short as in 2-3 years, where I could put a reasonable amount of money in and get a fairly high return rate? Lets assume I have 7 grand to invest.

Individual stocks or funds will produce the highest rates of return. However, high rate of return = high risk. Spread your risk by not dumping all 7K into one place. Try a few funds focused on different industries or perhaps even consider foreign market funds. Just do your research and use fund screeners to find something that is right for you.