It is in a bank account right now and it is getting 0.89% interest. I want to buy a motorcycle in a few months, but if i make a good return on this money than the motorcycle can wait. I just wanted to know what i should do. What about paypal and thier interest rates, i heard they were over 4% and that can be taken out whenever. I would greatly appreciate anything you guys can give me. thanks
2006-10-25 07:38:22 · 8 answers · asked by xcrusader12x 1 in Business & Finance ➔ Investing
Consider researching your own companies... right here on Yahoo! Finance. I have found some solid performers this way. Go to: http://screen.finance.yahoo.com/stocks.html
2006-10-26 14:26:18 · answer #1 · answered by Mike S 7 · 0⤊ 0⤋
Having that money in a bank is only making money for your banker. Take that money and visit your local coin dealer. You should invest in silver bullion bars (not the soup kind!). With 2K you should be able to get around 160 ounces. You should buy 10 -12 10oz bars and a few 1 oz rounds and/or bars. Stay away from expensive silver coins and just buy bullion coins and bars. You should also have some gold bullion but you will need a little more money for that. I am not an investment adviser, but silver is where the smart money is right now. Do a little research and you will find that silver is getting ready to skyrocket. A 2K investment today could bring a 300% - 400% return over the next year. Silver is expected to exceed $30 per oz soon. Good luck!
2006-10-25 23:43:24 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Hi.
It doesn't make any sense putting your money in a bank account or CD. If your not getting more than 3% (inflation), then you money will be of now value in 20-30 yrs.
Conservative Approach: You can open an investment account and purchase no load mutual funds. Use one of the discount brokers like E-trade of TD Ameritrade.
Aggressive Approach: Purchase a good blue chip stock that's has recently depreciated in value.
If you want to save on taxes then open a Roth IRA Account and your money will grow tax deffered. Investment is the only way to accumulate significant wealth these days....
2006-10-25 15:18:00 · answer #3 · answered by corey j 1 · 0⤊ 0⤋
I think the stock market is the best place to put the money. Of course in the market you can always lose some of your money, but over the long term, the market is the best place to invest - even better than real estate.
If you are looking for ideas on what to invest in, I would suggest http://www.top10traders.com - this is a free site that shows what the best traders are buying and selling. You can create your own portfolio of stocks with $100,000 in "play" money, and then see how your picks compare to other investors. The best traders at the site are making around 8% a month on their portfolio - that's a lot better than a money money cd. Good Luck.
2006-10-25 14:53:50 · answer #4 · answered by Anonymous · 0⤊ 0⤋
You can put it in one of two things a savings since it is more than a hundred dollars, let it build interest and still be able to take a little out at a time if needed, or put it in a C.O.D. account leave it alone and let it build interest until you are 25yrs old or older. You would be supprised on how much money that can turn into. That is what I suggest. I have C.O.D. accounts opened for my children so that when they get out on their own they have something to fall back on. You should do the same for yourself.
2006-10-25 14:53:02 · answer #5 · answered by no.#1 Mom 4 · 0⤊ 0⤋
Buy SPY (SP500) and sell at the end of January. Then keep the money in a money market. You might make $200. The trouble is compound interest requires time to make it work and you aren't working with much time.
2006-10-26 03:43:59 · answer #6 · answered by gregory_dittman 7 · 0⤊ 0⤋
Check out 3-month and 6-month Certificates of Deposit.
2006-10-25 14:45:57 · answer #7 · answered by Anonymous · 0⤊ 0⤋
a vast amount of marijuana or cocaine, flip it and watch it grow.
2006-10-25 14:46:45 · answer #8 · answered by prettyredbone2006 1 · 0⤊ 0⤋