I just got 13 grand handed to me. What would be some wise investments? I'm Thinking a roth IRA. And maybe catching up on some bills
2007-08-21 14:30:14 · 9 answers · asked by turkey 6 in Business & Finance ➔ Investing
I think a great investment would be to help children in Darfur. Use the money to pay off bills, then donate the rest. It will be one of the most "wise investments" you could make: not only will you feel good but you will be helping out children, children who will never have 13 grand just handed to them.
2007-08-21 14:39:43 · answer #1 · answered by u can't hear the music 2 · 0⤊ 1⤋
First off, if you have debts...pay them off.
Next, if you want to make the most of your money, find the best investment with the highest yield. I suggest a mutual fund or if your looking for a quick return do some research to find some hot stocks.
A hot stock at the moment is TBS International.
Ticker: TBSI
It is a shipping company via water transportation. It is a hot sector that is strong because of the increased oil prices. It is currently priced at 36.00 and has the potential to hit 45/per share easily.
Doing the math real quick, assume you invest 1400 dollars of the 1500, you will be able to buy 38 shares of the stock.
Assuming the stock hits the 45 price (2 dollars below the actual target price)
Then you would have a return of 9/per share, for a total return of 342...or approx. 24.4% return on your investment....
24.4 % return is insane!
If you want to know more about the stock or howto find quality stocks to invest in drop me an e-mail @
Joseph_poma@yahoo.com
I am a high school math teacher who has done a lot of research and private investing of my own funds...
Currently I have approx 11k invested in mutual funds and stocks.
It is also important to note that I am not working for a bank or investment firm...I am just a guy trying to give some helpful advice to people to help everyone make a little money. Peace and god bless
2007-08-22 00:06:05 · answer #2 · answered by Joseph P 4 · 0⤊ 2⤋
you have the right idea but pay off the bills first if they causing you to pay interest e.g. credit cards. You usually can't earn enough to offset the debt interest charges.
Roth would be excellent. If you are not sure how to invest it my favorite is the Vanguard Star fund. but Fidelity, Vanguard and T.Rowe Price all have excellent balanced, Target allocation or Target retirement funds.
2007-08-25 21:22:23 · answer #3 · answered by J 4 · 0⤊ 0⤋
If it were me, I would buy some bonds if I had a child. Maybe start a trust fund/savings account for them. If you're older, life insurance would be a good idea. Definitely put some into savings for emergencies. However, only do all of these optional things after your bills are paid and up to date. If you are behind in payments and accruing interest on things, it makes no sense to me to "tuck it away".
Another option if you are on top of things and not in major need of the money would be to donate some to charity. It goes to a great cause and you can write most of it on your taxes. If you know someone who knows about stocks, buy a few, but don't waste too much money on it because the stock market fluctuates a lot and you don't want to waste it. :)
2007-08-21 21:41:42 · answer #4 · answered by KaitsMommy2006 2 · 0⤊ 2⤋
I would put aside a grnad for emergencies, pay off my debts, then invest the rest in a ROTH in good quality mutual funds with proven track records.
2007-08-21 21:34:37 · answer #5 · answered by Anonymous · 1⤊ 1⤋
If you have any high interest debt (credit cards especially) pay those off, and start saving the amount you would have been paying to the credit cards. Basically, loan it to yourself and stop paying interest.
Thirteen thousand is enough to put an end to two hundred dollars worth of credit card interest every month. If you work for a living to make that two hundred dollars, you'd have to earn three hundred or more to get that two hundred to pay it. If you make twenty bucks an hour, that's almost two day's pay per month.
2007-08-21 22:37:23 · answer #6 · answered by open4one 7 · 1⤊ 1⤋
invest in the aussie stock market.
its a high consistent growth market and we arent shy investers, that get spooked by the english japanese chinese or american stock market.
or look into the fledgling dubai stock exchange.
Also the aust stock market is getting good money off dubai investors because theres many many many resources coming out of australia, gold oil gas ect, andc construction companys. check out sdg, mfs, llc, osh, rio or the babys, mon ech, all have .ax if your researching out of an aust site.
any how good luck and pay the bills back first though.
2007-08-21 22:10:27 · answer #7 · answered by taz_d_lucy 1 · 0⤊ 2⤋
Suze Orman always advises people to pay off their debt before you invest in anything else.
2007-08-25 12:58:17 · answer #8 · answered by binarywoman 2 · 0⤊ 0⤋
AAA rated tax free municipal bonds until this market becomes more stable.
2007-08-21 22:14:11 · answer #9 · answered by Anonymous · 1⤊ 1⤋