I'm looking to buy a house in the next 12 months but I want to turn $5000 into much, much more.
2006-08-17 05:29:30 · 10 answers · asked by Ry_man 2 in Business & Finance ➔ Investing
You say you want to turn 5k into much much more, but what are you willing to risk? The higher the reward, the higher the risk. A safe place to keep your investment is in a CD @ 5%. If you are willing to take a loss in order to possibably gain higher returns, there is always the stock market....but again, it is a risk-to-reward ratio.
2006-08-17 06:00:36 · answer #1 · answered by jazzzame 4 · 2⤊ 0⤋
Currently the safest way is CD's or Money Markets. Very low risk with a guaranteed return. If your lucky you can find 6%.
If you do want to risk it try looking into some stocks with Trusts, like real estate, financial, oil, These usually will pay a higher dividend than a bank but you'll be risking your original 5000.
2006-08-17 07:13:04 · answer #2 · answered by reallyno 3 · 0⤊ 0⤋
Short term money markets are a great way (with no risk) to go. My wife and I are getting 5+% return on 100K we just banked at Wachovia. We are building a new house, and we wanted to keep the money liquid until the house is completed in 3 months, but with good interest, and no risk of loss, as in the case of investing in stocks. True, 5% will only net you 250.00 in interest in 1 year, but you'll have $5250 (at minimum, since interest rates are rising) to put onto your new house, assuming you do not add any more principal to the money market, and you risk nothing, as the account is FDIC Insured. Also, unlike CD's, these have no minimum terms to keep your money in the bank.
2006-08-17 05:39:44 · answer #3 · answered by wespectmyauthoritah 3 · 1⤊ 0⤋
Like Jazzzame said: < Risk = < Reward.
Stock options provide a lot of leverage on the up side but you could lose what you have.
Stick with a CD and Save Save save!
2006-08-17 06:36:43 · answer #4 · answered by kcincon 3 · 0⤊ 0⤋
Los Vegas
2006-08-17 05:37:11 · answer #5 · answered by BobbyD 4 · 0⤊ 1⤋
You can turn $5,000.00 in $10,000.00 in a minute if you bet on Roulette and win.
In case you haven't figure it out already. The fastest way is not hte best way.
2006-08-17 15:33:42 · answer #6 · answered by Anonymous · 1⤊ 0⤋
6 month CD's (certificates of deposit) can be purchased thru your bank and pay the most interest in a short amount of time
2006-08-17 05:35:40 · answer #7 · answered by Anonymous · 0⤊ 1⤋
Go shopping, your gain in happiness does not have comparison
2006-08-17 06:57:14 · answer #8 · answered by TICO100% 2 · 0⤊ 0⤋
you can invest $97 in this system and earn $400 or more per day.
2006-08-17 10:54:59 · answer #9 · answered by Anonymous · 0⤊ 2⤋
Donate to charity.
2006-08-17 07:12:20 · answer #10 · answered by ChelSEnal 1 · 0⤊ 2⤋