I just ran into a little bit of cash. What would be the smartest thing I could do with it?

Question

For a shorter term pay off.

Answer 1

The smart thing to do would be to invest for the long term on some kind of tax-advantaged basis. Short-termism is a dangerous disease; it produces lots of broker commissions and tax liabilities, and those are the surest performance spoilers known to the investing world...

Answer 2

Assuming your bills are caught up for the month, here's what I'd suggest:

1. Pay off any high interest credit card debt you may currently have.

2. Open a money market account with check writing privileges (available at most brokerages) and keep it in the account earning interest until such time as you might need it for an emergency (unexpected car repairs, etc...)

3. If you're married, or even if you're not, use part of the money to draw up a last will and testament. Don't let the government decide who gets your property (and if you're married) custody of your kids when you die.


4. Open a ROTH IRA and start saving for retirement. (This is not short term, but on the other hand, any money you put into one earns interest and grows totally tax free).

Answer 3

The answer depends on your age, what you consider "smart" and how much your willing to risk.

I would say that you should take 120 minus your age and that's the percentage of stocks you should be in. Ex) I'm 24 so I should invest 96% of my money in stocks.

Assuming you're young (under 30), you could throw the money in microcap stocks (under $100 million in market capitalization) and trade in and out of them. The volatility created in such small stocks will allow you to make quick gains (or losses).

If that is not for you, buy the Vice Fund - ticker symbol (VICEX). Its a good fund that invests in recession proof industries.

Answer 4

wait for the market to take a little dip which it should do shortly them divide your money equally among these stocks

GSF, PSYS, CEO, BIDU, CWTR

Answer 5

Im taking donations.