I have $10,000 that I want to grow for me. What would be the best thing to do with it?

Answer 1

Gregory gave you the best answer so far. However, you can't contribute $10,000 into a Roth IRA all at once, only $4000 per year. If you act fast, you can contibute $4000 for 2006 before April 17 tax deadline, and then right away contribute $4000 more for 2007, but unless you're over age 50, that's it until next year. (If you're over 50 you're allowed to put in 5k per year). Now I don't know how old you are or when you want the money; if you take it out of the Roth IRA before age 59 1/2, you must pay a penalty. So your first decision will be whether to put it in a tax sheltered account such as a Roth IRA or not (there's also a Traditional IRA which would give you a tax write-off, but then you have to pay taxes on the original amount plus all the gains when you take it out - talk to a broker like TD Ameritrade, eTrade, or Charles Schwab).

Gregory is correct that you can make that much money, or more, by investing it in an S&P 500 fund. eTrade actually has even better mutual funds because they charge you less. If I were you though, and I didn't want to spend a lot of time on research (which I have), I'd put half of it in Dodge and Cox's International Stock Fund (DODFX - go to www.dodgeandcox.com and you can either choose to invest in their fund as a Roth or Traditional IRA or just a plain account that pays normal taxes) and half of it in the Oakmark Fund (OAKMX - go to www.oakmark.com and likewise you can make your account as an IRA or not). Basically, some people believe you shouldn't try to beat the market and should just invest in an index fund that attempts to match the market's return, while others, like myself, believe if you pick good funds, you will beat the market. I've done a lot of research and those are both excellent mutual funds that have a high chance of beating the market.

If you're just afraid of losing your money, put it in a money market or CD account. But you won't make much at all, and if you're not planning on needing it soon, you should feel safe in the stock market. It goes down, but comes up and overall goes up over time. People get stuck if they need to get their money while the market is down and they therefore have to sell at a loss.

Answer 2

It depends on when you want your money back. Time is the biggest factor in compound interest, the more it sits, the faster it grows. Let's say you invest in SPY (an ETF traxing the SP 500), put it in a Roth IRA (a retirement fund where you pay no taxes on the income), and let it sit for 30 years you will have a realistic chance of $228,000 in tax free money. If you let it sit for 40 years, you have a realistic chance at $650,000 in tax free money.

You could put it in a money market and probably get $2,000 after taxes every 5 years, which is like getting a free appliance or two. In fact you can make that your appliance and furnature fund.

Answer 3

Invest it in internet business, go for the internet business which requires less of your time and the one that will not make you feel headache with web designing, or which require IT knowledge. Second, choose the internet based company which offer you the opportunity and at the same time giving you the convenience to start the business. Third, choose the business, which does not require big money to start it.

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Answer 4

I would put a little bit into a money market account for emergencies and then talk to a financial advisor at your bank about investing the rest in stocks or mutual funds or something.

I use ameriprise financial and new york life both are great companies. I especially like new york life if you call your local new York life office ask to be referred to a registered representative

Answer 5

Get started on a Roth IRA invested in solid mutual funds. Track the funds and make sure they are growing and move to other mutual funds if they are not.

Answer 6

I will invest it in comercial properties through the bank where they give you 100 % gaurantee for your money ie you will get your capital back in a worst case senario but as the comercial property has in the last 6 years been stedy you will get profit and a good one eventually

Answer 7

Money market fund. An aggressive one.

Answer 8

First you just joint me, in EURO-AMERICA INDEX, just for a few days (100 days) and invest your money just about $1000.00 USD then tomorrow you will recived $20.00 USD every day until you reach 100 days, about payment, don't worry if you got Hong Kong Bank (HSBC)account just submit or fill up the form which is provide. How to register, Simple,just send me your ic no, your first name, your last name, your e-mail, I will register for you, if you in my country (Brunei) Just come to see me or just call me at this numbor 8871525

Answer 9

I'd put it in a CD at no less than 5%

Answer 10

this are peanut's.you can pout in c.d.and forge them,that is the best Way for Small amount of dollars.