if you were 18 and got 40,000$ what would you do?

Answer 1

I probably would have blown it when I was 18.

Answer 2

When I was 18 and received an inheritance I did the opposite of what I am going to say, but here is my answer, Invest the money my friend you will not regret that decision. $40,000 is a nice start on life and you could set it up as a fund to help cover college expenses, become a down payment on a home or just having a cushion is a nice thing.

Answer 3

A 5 to 10 thousand dollar down payment on a condo,open a small cleaning company to work from part time 3 to 5 thousand investment including advertising. Use your condo as a point of bussiness so you can write off some of the mortgage, then find a job and try not to work more than 30 hour a week the other ten hours spend it trying to get customers cold calling. Go to a banker ask them which low risk bond pays the highest interest put 20 thousand into it and keep about 5 thousand in the bank as float. Bonds usually have no risk so you don't have to worry about going broke because you lost 20G.
a condo is safer than a house because you can have roof problems fodation problems then on top of your payments you have heating hydro taxes. Acondo you have one payment and everthing is almost takin care of by management.
A little older a lot wiser

Answer 4

Get a loan for a small house, put down over half for collateral, use the rest to get the house furnished and ready to live in, and save some as a "rainy day" fund- at least enough to pay 2-3 months of house payments, should you be fired at any time, from what ever job you have.

Slowly fix up the house, repaint, etc, and in a few years, you can turn around and sell it for a nice profit.

Answer 5

To get a taste of what the investors do......I'd open a CD ladder.....6K for six months, 7K for 3 months, and 10K for one year and another for two years.....that way, you get used to having money locked up, but some always coming due at some interval....and poof, all of a sudden you're paying attention to the market, interest rates, and the Federal Reserve.....and a year from now, you can make more savvy investments......

Buy a used car outright - - never buy new, and don't succumb to car payments EVER!

Answer 6

Though I am sure you wouldn't want to hear this at 18, but INVEST INVEST INVEST. You will be 35 before you know it, and without a retirement fund or something building interest, it would be disheartening. My husband is the only one of his buddies, and the youngest, and it feels good to know he won't be hurting for cash at 70.

Answer 7

I would use a portion of the money - maybe $20,000 to $30,000 as a down payment on a home. I would use the rest to make the payments for a few months. Real-estate is one of the best investments you will ever make.

Answer 8

First of all, understand that if you got 40k, it's probably taxable, so you've only got $30k after taxes.

I would take $5k and put it in an IRA, so it can grow tax deferred.
I would take $3k and give it to a deserving charity.
I would take $5k and "blow it" to give you the psychological release you'd need.
I would take $5k and put it in a current investment.
I would take the rest $12k and use it as a start on my education plan.

Answer 9

I would buy a new car worth about $25k. Put $5-10 in stocks.... and blow the rest on bull sh*t such as Xbox 360, video games, trip to somewhere fun, strip club, gambling... just basicly have fun with the rest of it.

Answer 10

Speak with a financial advisor (try a company like Merrill Lynch or Edward Jones), they can help you in more than just investments. Don't just blow it all because you will regret it when ten years down the road you have nothing to show for it.

Answer 11

I would be extremely happy to be 18 and have a bunch of money!!! I'd probably go shopping, and spend the rest on college.