I have 7,000 to invest..Any suggestions on what to do with it so I can get fast returns?

Question

and for all you ignorant a**es..No I don't sell drugs..I have a good job and I was able to save it..It took ma almost a year

Answer 1

The problem is that you use "invest" in the same sentence as "fast returns." You get "fast returns" by speculating, and yeah, that can be done and yes, you MIGHT make some money and you MIGHT even make more than it would sitting in a money market fund, AFTER taxes and trading costs.

But..anything that is speculative carries a ton of added risk, and I do mean TON. That risk is probably not worth it.

You don't say what your money is for or when you will want to be able to spend it. Time frame is everything when it comes to choosing the right investment. Over longer time periods (think 7-10 years as the minimum for long term), you can afford to take on bigger risks because the market tends to trend upwards, but in between now and then, it could go anywhere.

Plus lots of research has shown that in the long run, taking on extra risk generally does not equate to equally better returns (added returns worth the added risk)

How willing are you to assume the risk you could lose 10, 20 or 50% or more of your money? If you are seeking fast returns quick, you are indeed looking at that kind of loss potential.

I would suggest that you spend some time now learning how to invest or invest your time with a good broker. A good book on investing, even one with the silly title of "Investing for Dummies" is a great start. There are lots of others to choose from.

In the meantime, put it in a brokerage firm's money market fund. That will pay about the same as a CD and when interest rates rise, so will the rate on the account (and you can move your money when you want to without a penalty)

So..sorry to say but you don't have enough info there for a specific answer, but I gave you a good, honest one anyway.

Answer 2

Careful with playing the stock market, since you could just as easily lose everything. Stocks are very high risk, and are just like gambling only with more paperwork. Do your research before buying sticks.
The safer investment in the long-term is a CD, and there are many online banks you can open CDs with that have great rates of return. CDs are safe as they guarantee their return; however the money you invest in them becomes locked up for the term of the deposit. Safer than stocks are bonds, which usually guarantee a slow but steady growth as long as you own them.

In-between stocks and bond are mutual funds, which are essentially groups of investors that you pay to manage and invest your money for you. They're pros, so typically they know how to watch the market and hopefully make good investment choices. They can be risky, but generally safer than individual stocks, and have a good potential for return. You could get with a fund manager like MetLife or Fidelity, they ought to have accounts for new investors, and should be able to help you create a nicely diversified investment portfolio. This would be my choice, personally, since I don't know enough about the stock market itself to invest in it. Managed funds usually cost a small fee to maintain, depending on your account. You could call them and research it a bit first before you make the jump.

Good luck! Saving and investing in your future is a great choice.

Answer 3

Open a share builder account for students and learn how and what stocks to buy. You can make a killing, Some report returns more than 400% in one year. Could you stand that much!

Answer 4

you and I are in about the same shape, open a brokerage account and try some safe stocks, HD, CAT, should be good for a while. Hold some, do not invest it all !

Answer 5

Great job saving! I'd say water --- more and more ppl are going with bottled water. Stock keeps rising in it all the time.

Good luck hope you do well

Answer 6

ASK SLICK VIC SAME SITE, AND YOU NEED TO GIVE THAT 7OOO BACK TO YOUR MA.

Answer 7

give the money to me and i'll figure out what to do with it..