2006-09-11 16:34:10 · 20 answers · asked by happyjoyii 2 in Business & Finance ➔ Investing
Depends on your timeframe, your risk tolerance, your availability of time, and your desire to apply time to causing this to happen.
For very short time, you probably need to gamble.
Beyond a short time period, you have more options. You can invest it in a variety of vehicles.
With a little more time, you can use a portion of it to learn a new skill or to start a new business. With that new business, you can grow the money more easily!
Hope that helps!
2006-09-11 18:49:25 · answer #1 · answered by Yada Yada Yada 7 · 1⤊ 0⤋
In what period of time are you wanting the profit? I have been investing in Real estate in a "hot" developing tourist market south of Cancun called Bacalar and the Costa Maya. Look it up on the net.
I may can find an opportunity for you to double your money. Write me so we can talk further. Otherwise, I'd look into a real estate option. Put $5,000 down, or less if possible, on an option and try to sell before the option is called. Or, just buy a house - just depends how quick you want the return. barrybacalar@yahoo.com
banks won't double your money, stock market and IRA will give 6% to 10% if lucky. Stay away from the casino.
Find me 9 more people and I can double all of your monies. I have a property in mind.
2006-09-12 11:57:33 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Depends upon the amount of risk you want to incur. A fast way ( and highly risky) is to gamble- poker, slots, lack-jack, etc. You cab turn 10K into 20K or zilch, in one evening!
If you want a safer way, buy good quality diversified growth stock no-load mutual funds. that should roll out double in 7-10 years, on average.
2006-09-11 23:42:12 · answer #3 · answered by seeitmiway32 5 · 0⤊ 1⤋
Daytrade the currency market. You could actually do that in a single day. But, of course, you could lose the whole thing.
But seriously...you could take a course in how to trade the currency or option markets and double your investment in a few months after completing the course.
2006-09-11 23:55:08 · answer #4 · answered by Tim43 3 · 0⤊ 0⤋
What kind of timeline are you looking at? And what kind of effort are you looking at?
If you dun mind working hard and making $10K as fast as you want.. then email me at verityy@yahoo.com and we will discuss your qualifications ;)
But if you are looking for money to fall from the sky.. sorry, you have to look elsewhere ;)
2006-09-12 01:03:58 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Open up a savings account at http://www.ingdirect.com
take $2,500.00 and put it into a savings account on their and use it as an emergency account....take $2,500.00 and put it equally into 3 Cd's ranging from 6 month 9 month and 1 year......
set up an account at http://scottrade.com
use $2,500.00 and purchase a portfolio of stocks ranging from something like this: 2% into Vz. 6% into HD 6% into DIS 6% into PG 6% into KO 4% into COO 4% into BP 9% into BAC 9% into WB 8% into JNJ 7% into PFE 5% into MMM 5% into GD 5% into GE 5% into MSFT 5% into INTC 5% into ADP and 3% into VVC
that should start you out diversified
with the last of the $2,500.00 you can open up a Roth IRA at like http://edwardjones.com
go with American funds they are good funds and relatively low expense ratios.....
2006-09-11 23:53:56 · answer #6 · answered by General Custer 4 · 1⤊ 1⤋
ok ill bet you your 10K that you can't pick the number im thinking of
2006-09-12 00:38:38 · answer #7 · answered by chef_q_c 2 · 0⤊ 1⤋
Look at investing in a small business
2006-09-11 23:37:27 · answer #8 · answered by Byron W 3 · 0⤊ 1⤋
Define best way?
Best = Shortest time/ least effort/ less sweat?
2006-09-12 04:38:04 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Save it towards buying a house.
2006-09-11 23:44:46 · answer #10 · answered by anonfuture 6 · 0⤊ 1⤋