And make the most money? It can be anything. I just need some ideas.
2006-09-21 14:14:43 · 15 answers · asked by Anonymous in Business & Finance ➔ Investing
Use $5000-$10000 to get a good investing education. Then with the remaining monies, you'll be able to multiply that faster than just investing the $38K now.
There are lots of areas you can look at. You might start by reading rich dad, poor dad by Kiyosaki and secrets of a millionaire mind by T Have Eker. In fact, their websites are:
richdad.com
millionairemind.com
From there, you can get training in a number of areas which will bring you to a new level (if you're willing). If not and you want to be lazy. Just get some large bills and flush em down the toilet. Or go to Vegas and invest it there.
It's up to you. I'd seriously look at enducation, especially if you want to do as you say and make the most money!
Hope that helps!
2006-09-21 14:29:08 · answer #1 · answered by Yada Yada Yada 7 · 2⤊ 1⤋
Savings bonds and Cds. Cds are safe and you can select the term.. the longer the term and the more money you put in, the more money you will make off of it. Buying real estate is risky. 10 years ago I would have said buy some land but not anymore the market is always up and down if you look at the last 3 years, some people selling homes have Lost money. And if there comes a time you need cash fast its not going to be readily available, whereas with a bank cd you can get your money anytime during business hours, shop around for the best rates and lowest fees. I withdrew one early and lost about $500.00 because I pulled a 3 yr cd's money out 6 months early. So perhaps set a bit aside say $8,000 in a 18month cd and 30,000 into a 5 yr one. but talk to a bank rep about your options and which will benefit you the most. Real Estate and stocks are not "safe investments", banking is.
2006-09-21 14:39:08 · answer #2 · answered by ChrissyLicious 6 · 0⤊ 2⤋
I would use this money towards the purchase of a rehab home. If you find the right investor or Realtor, they can help you find the right home to purchase and help you determine a financial strategy to rehab the home to a sell-able condition. Keep in mind, the area you buy the home, the current days on market, the growth potential, and most important the comparable homes in the area. Find a ugly home with mostly cosmetic problems for a great price and watch that $38,000 grow! Best of all, in the right market, you can find a great return on your money within 1 or 2 months depending on how long it takes to get the house ready.
Every city is different so make sure you know what's going on with that market.
I'm a Realtor/Investor in Albuquerque and we have one of the hottest markets in the country. Find a good place like this and make your money work for you!
Email me if you have any questions!
http://www.ExitYourHome.com
2006-09-21 18:31:09 · answer #3 · answered by Anonymous · 0⤊ 1⤋
I would invest it in top names in the Biotech and Technology sectors. Both areas are starting to run and there appears to be a great deal of both value and upside in the market.
http://biotech-profits.org/
http://tech-stocks.org/
Both of these sites have good insight and analysis into both the sectors and specific companies.
All the best with your investing.
2006-09-21 14:25:56 · answer #4 · answered by phx_oil 2 · 1⤊ 1⤋
invest it in the futures market...you can get around 2-10 % in a month.it works for me
2006-09-21 17:18:04 · answer #5 · answered by Zico 2 · 0⤊ 0⤋
Stock Market.
2006-09-22 11:34:21 · answer #6 · answered by Anonymous · 0⤊ 2⤋
Savings Bonds: Double your money in 7 years.
2006-09-21 14:22:46 · answer #7 · answered by Mazz 5 · 1⤊ 3⤋
Spend a couple of Hundred and get a financial adviser. Check them out first.
2006-09-21 14:22:54 · answer #8 · answered by ? 6 · 0⤊ 3⤋
self employed? invest in your own bussines
2006-09-21 15:21:42 · answer #9 · answered by Henry W 7 · 1⤊ 1⤋
Invest in a home business or real estate with this company http://rstinson.prowealthresults.com
2006-09-21 14:22:54 · answer #10 · answered by Anonymous · 0⤊ 6⤋