2006-06-10 12:00:45 · 19 answers · asked by TONY B 3 in Business & Finance ➔ Investing
By careful investing on the Stockmarket over a period of 20-30yrs + re-investing the dividends..... forget about the idea of short-term investing (e.g. buy Monday, sell by the following week).... long-term is where the real money is at.
2006-06-10 21:00:30 · answer #1 · answered by Anonymous · 4⤊ 1⤋
Invest it in the broader market, perhaps an index that tracks the Dow or the S&P500, earning between 7-10% it will double roughly every seven years, so if you put $10,000 in this year, it needs to double a little les than 7 times to turn into $1.28 million, ie it will become over a million in around 49 years, or seven "doublings".
Compound Interest is your friend!
2006-06-10 12:06:17 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Real estate. Use it as a down payment to buy a rental property. Then start saving the rent payments you get each month, and when you get $10,000 saved up buy another property. Repeat forever.
It would be nearly impossible to gamble $10,000 into millions, unless you bought a racehorse or did something crazy like that, and even then the odds are stacked against you.
2006-06-10 17:01:41 · answer #3 · answered by Anonymous · 0⤊ 0⤋
go to my profile
click on the link for Real Estate
with 10,000 for Real Estate that is a good start to get you going
play it right you'll be in the millions in no time
2006-06-10 12:42:23 · answer #4 · answered by umdanddvd 3 · 0⤊ 0⤋
Don't invest it all right now. Put the most in your Roth IRA for this year. I think it's $4000. Invest that $4000 in four mutual funds: each with $1000. Repeat for the next couple of years. As for the mutual funds, I'd recommend one for big stocks, one for small stocks, one for foreign stocks, and one for bonds. You'll have to wait a while.
2006-06-10 13:31:04 · answer #5 · answered by Anonymous · 1⤊ 0⤋
All you gotta do is send it in a postage paid envelope straight to my house. I'll turn it into a million dollars in no time... You see, I have magic powers. The thing is, there's no guarantee if it will work or not! It might just disentigrate!
2006-06-10 12:03:09 · answer #6 · answered by jeff_is_sexy 4 · 0⤊ 0⤋
If you invest $10,000.00 in the Stock Market with the help of a Portfolio Manager like myself or a Financial Advisor you will have millions before you die.
If you invest $10,000.00 at 18 and you don't smoke you could die at 85 with $2,179,529.34
NOTE: I used a Return on your investment of just 8.5% which is very conservative.
If you are older just increase the return on your investment a little.
If you really want to become a millionaire I suggest you to open a brokerage account at Scottrade and then drop me a line.
Top 3 Answerer in Business & Finance. (Vote for me)
2006-06-10 14:58:45 · answer #7 · answered by Anonymous · 0⤊ 2⤋
By investing and reinvesting for the rest of your life, and by not spending one single penny of it. Look for steady low to medium rates of interest and returns. Don't go for anything flashy or fast.
Remember, to have the millions, you have to make every penny work for you. A penny spent can be hundreds to thousands lost.
2006-06-10 12:05:11 · answer #8 · answered by quietwalker 5 · 0⤊ 0⤋
Just put it in a high intrest rate account with ING investments or Franklin investments or you can play with it in the stock market by yourself. very risky but its kinda fun. by the time your like 60 you should have plenty of cash if you do it right
2006-06-10 12:06:00 · answer #9 · answered by Jess C 1 · 0⤊ 0⤋
Put it in your savings account and wait 200 years.
2006-06-10 12:01:58 · answer #10 · answered by Panada 4 · 0⤊ 0⤋