What to do with 20,000 dollars?

Question

I have 20,000 dollars. what should I do with it to make the most money from it? I was thinking about a money market account with a 2 percent interest rate. Is that a good idea or should I try something else?

Answer 1

I just put some into a CD with 5.30% interest -- that's better than 2% at least!

Answer 2

6 mo t-bills 5.00%. $10,000
TDF $2,000
SAY $1,000
BAC $2,000
HD $2,000
SWZ $2,000
COP $1,000

That will diversify you across 6 or 8 different countries, give you a good cash reserve, t-bills and also is relatively low volitile with the exception of SAY. That is the one speculation.

At the end of 6 months when the t-bills come due if the market has dropped a couple of thousand points only put $5,000 back into the t-bills and the other 5,000 into the above stocks. Otherwise role it back into more t-bills.

Answer 3

HOW TO BLOW $20,000 IN ONE NIGHT:
3 bottles of Louis Roederer Cristal 1999 champagne at $249.99 = $749.97
1 night at the world's most expensive hotel, the Mansion at MGM Grand = $5,000
Transportation, limo= $1,500
3 High class Hookers at $1,000 each= $3,000 excluding tax
Take plane to restaurant The Masa in the Time Warner center for a which meals are over $300 and you have 3 High class hookers with you = $1,200
Side trip to the Blue Bar at the Algonquin Hotel in Manhattan for the "Martini on the Rock" (engagment ring in a martini) for the Brunette High class Hooker that does that thing with her tongue = $10,000

You might be in a little debt but you have that High class Hooker to make money for you now and the memories from the night of your life. I did all of the research lol.

Answer 4

check bestrates.com for the best MM rates.

ING has some good rates too.

if you don't need the money for a year or so you might want to stick it in a CD. but beware of the interest penalties for early withdrawl with a CD.

good luck

Answer 5

put it in stock...or put it on somthing that cost more than that i would put it down on a nice house.....the value will go up and if u ever decide to sell u may just make ur money bak depending on the market at the time....my other opinion would be to donate it to a good charity for children....

Answer 6

You could take a set aside a portion of that money (Retirement Account) unless you have plans of using the money sooner.

Answer 7

I'd say first buy yourself something nice and then follow your heart on the investment part. Which ever way you go I'm sure you'll do the right thing. Enjoy life we only get one!! Take care

Answer 8

Jim Cramers MAD Money on Cnbc Watch and learn!

Answer 9

I would go on an extended trip to foreign lands. You won't make $$ but you will make memories and gain new insights.

Answer 10

give them to me, i will take a masters degree and after 2 years ill give you back 40000 dolllars.
nothing beats that.