Iv'e thought about buyin some property and sittting on it but im not sure.... any advice would be appreciated..thanx
2006-10-10 13:47:49 · 23 answers · asked by brad b 1 in Business & Finance ➔ Investing
put it in a CD and collect interest. continue saving until you have enough to buy a nice house so you'll have a nice house fully paid for, no payments. thats a BIG worry put past you for the rest if your life if u wanted it to be. dont waste it on anything else
2006-10-10 13:49:44 · answer #1 · answered by Jena S 2 · 0⤊ 0⤋
SPY and QQQQ. These are indexs, basically a basket of stocks. SPY tracks the SP500. Few mutual funds have beaten the SP500 over the long term. Put the money in a ROTH IRA (although you can only put $4,000 a year in a Roth Ira, you can have another account to put the rest in). If it grows 8% a year on average (the past has been 12%, but that's the past) , you are looking at almost $1.6 million at 65 with much of it tax free (because of the Roth). If you hold off to you are 70, you are looking at just over $2.3 million, which is good enough to retire on. Remember, it will take over $219,000 to buy in 50 years (if inflation stays on average of 3%) what it will take $50,000 today.
2006-10-10 21:28:41 · answer #2 · answered by gregory_dittman 7 · 0⤊ 0⤋
Don't get too anxious to get rid of it. There is no free ride and the real estate market is about to collapse (it's already falling). You are better off to keep it in a local credit union, not a national bank, or invest it in tools or other useful things that you will be able to turn into a job in the future, perhaps in a rural area.
The future isn't bright, but it will require bright people who have tools.
Don't invest in anything that you don't know intimately. If you have to trust a broker, then you will have to risk even more to pay them.
If you want change in the world, keep it in your pocket. You have 50,000 votes right now, use them well.
2006-10-10 20:53:13 · answer #3 · answered by auntiegrav 6 · 0⤊ 0⤋
It's not enough to invest in real estate. Diversification is always key and with that amount you can diversify only so much. I'd suggest putting no more than half in a solid stock mutual fund (shop around for a financial advisor you can trust). Keep $5,000 in a liquid savings account with as high of a yield as possible and put the rest in certificates of deposit. Rates are good at this time. "Ladder" the CDs -- buy them in different months and at varying rates so that they mature at different times. E.g., buy a $5,000 6 mo and a $5,000 12 month this month. Then repeat next month.
2006-10-10 21:13:15 · answer #4 · answered by derrtrichard 3 · 0⤊ 0⤋
property is always good but you have to keep it up so that might not be wise at your age because i know that when i was 20 i didnt know much about property how about starting a buisness something that reflects one of your interests maybe you like cars open a auto shop or maybe you like dancing open a studio sit down and decide what your best intrest is and invest in that
2006-10-10 20:51:11 · answer #5 · answered by lisaisfunn1 3 · 0⤊ 0⤋
Put it in a market index fund. In 40 years when you are ready to retire it will be 4.6 million, yes million dollars.
2006-10-10 22:18:35 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Have you gone to college? If not, definetly that. Or if you have get a great car or invest some into a house. Maybe a boat or jet ski or something like that
2006-10-10 20:49:44 · answer #7 · answered by ? 3 · 0⤊ 2⤋
Buy some gold, think the price still going up.
2006-10-10 22:54:21 · answer #8 · answered by sing 2 · 0⤊ 0⤋
Buy 500 one hundred dollar bills with it.
2006-10-10 20:52:16 · answer #9 · answered by Anonymous · 0⤊ 0⤋
I think your idea is a good one. Buy some property... a house or condo.
2006-10-10 20:55:58 · answer #10 · answered by voyagernj 2 · 0⤊ 0⤋