2007-01-17 00:39:36 · 6 answers · asked by tyler 2 in Business & Finance ➔ Personal Finance
Anywhere you wish. Ask yourself what are your investment goals. They should be income, growth and preservation of capital. If preservation of capital is of prime importance, buy certificates of deposit at a bank. The current interest rate is about 5% and the principal and interest are guaranteed by the FDIC.
2007-01-17 00:46:21 · answer #1 · answered by regerugged 7 · 1⤊ 0⤋
totally depends on what your goals are and how much time you have to reach them. If you are young, equity in stock or a home, etc.. is a good start assuming you dont' have a lot of high interest debt right now.
Index funds will return 8% - 12% a year over time which means your 10k will be worth quite a bit if you let it continue to build value.
If you may need the money at any time and don't want to risk the principal, you should open an online bank account that will issue you checks and an atm card. They pay higher interest rates than normal banks and are still insured.
good luck.
2007-01-17 03:38:23 · answer #2 · answered by techibd 2 · 0⤊ 0⤋
You should try prosper.com. But only invest in loans with a credit rating of C or better and a DIT of less than 20%. I have had tremendous success with Prosper. Most of the loans I've funded have at least a 10% - 18% return. A lot better than any CD and safer than the stock market! Good Luck!
Check out this article from the NY Times.
http://www.nytimes.com/2006/02/13/technology/13ecom.html?ex=1297486800&en=a0ac72b7453152ab&ei=5090
2007-01-17 01:48:31 · answer #3 · answered by steffers4979 4 · 0⤊ 0⤋
I would invest in paying off any debt you have. Would you take out a credit card loan or a loan against your car to buy stocks? No. but if you use it there you should make the decision to stay away from debt...otherwise it would be a bad investment.
If your not done with debt I would choose a aggressive growth stock mutual fund with atleast 10 years of a good trackrecord.
2007-01-17 01:31:33 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Assuming no high interest debt and little investment experience.
Find a mutual fund or ETF company and begin investing in 2 of their offerings. Invest in increments to lessen impact if markets turn South (open account with minimum, increase in 1 month intervals. Oil and Oil Service based fund offerings may be one good sector to consider at this time, Brokerage may be another to consider.
Here's a good place to start: http://www.amex.com/?href=/etf/EtMain.jsp
2007-01-17 03:49:53 · answer #5 · answered by CajunWon 2 · 0⤊ 0⤋
certificate of deposit at your bank
2007-01-17 00:43:10 · answer #6 · answered by S W 3 · 1⤊ 0⤋