Im in school right now to be a dental assistant, and I already own my home. I want the last of my money to grow without risking losing it in stocks or high yield investments. I have considered cd's but they tie it up for a year and I only get 5%.
2007-05-04 11:50:35 · 11 answers · asked by nikko 1 in Business & Finance ➔ Investing
I would argue that "the smartest way to spend $20,000" is to NOT spend it.
2007-05-04 13:11:05 · answer #1 · answered by Cardinal Rule 3 · 1⤊ 1⤋
I think what you mean is what's the best way to invest 20,000. If that's the case, the best thing to do is to get yourself financially educated first. If that's not suitable for you, try to find advisor, a trustworthy one, to assist you with your financial matter. Personally, I invest in shares and trade options. But that require special knowledge and understanding. I'm also passionate about investing. So small setbacks won't deter me. Like you said, you want to be a dental assitant. Investing might not be your cup of tea. Therefore, talk to several financial advisors before you make your decission. Remember, if you don't know what to do with you money, and you tell public about it, thousands of people, who 'know' what to you with your money, will come to you.
2007-05-05 01:16:18 · answer #2 · answered by Sang Suci 2 · 0⤊ 0⤋
Put it in a money market mutual fund as your emergency fund. They yield better than a cd and you can usually write checks ($500 minimum) against the account. When you are more comfortable with investments you could look at conservative stock and bond mutual funds.
In the mean time subscribe to "Money" magazine to educate yourself about investing for the long-term.
2007-05-04 12:09:27 · answer #3 · answered by BD in NM 6 · 0⤊ 1⤋
Diversify with different mutual funds. Put some in a money market fund, some in bond funds, some in REIT funds, and some in stock funds. That way no single market segment can drag your whole portfolio down. Distribute according to your risk tolerance.
I recommend Vanguard's index funds and money market funds.
2007-05-04 12:30:09 · answer #4 · answered by rainfingers 4 · 0⤊ 0⤋
Many banks use the money that you give them to buy your CD and then buy government tax lien certificates. They are 0 risk and have huge rates of return. Learn more about them here:
http://bstsystems.taxliens1.hop.clickbank.net
or
You can invent a product and get it to market for about $20,000. The fastest way to get rich is to invent a product that is highly desireable in the marketplace and put it on qvc home shopping network to see if its marketable, and hope it takes off.
http://www.cnbc.com/id/15838512/
2007-05-05 07:13:56 · answer #5 · answered by Anonymous · 0⤊ 1⤋
High Yield Investments it's too risky. You can try, but take care.
2007-05-04 12:00:23 · answer #6 · answered by bouchu 2 · 1⤊ 0⤋
Put it in ING Direct saving because there no restrictions. $20,000 would give you $70 monthly interest.
2007-05-04 16:15:54 · answer #7 · answered by freeman 2 · 0⤊ 0⤋
I would open an IRA account at your bank or talk to the person in charge of that account.They will help you.
2007-05-04 11:59:52 · answer #8 · answered by SKUNK 2 · 0⤊ 0⤋
Buy Sony, Microsoft, Nintendo, Apple and Yahoo!
2007-05-04 12:45:29 · answer #9 · answered by Anonymous · 0⤊ 3⤋
A growth mutual fund would probably be good for you.
2007-05-04 11:53:58 · answer #10 · answered by Judy 7 · 0⤊ 0⤋