$10,000 wind fall how do i spend it wisley ?

Question

I could pay bills, by new car but i would realey like to invest and turn into 30,000
any ideas

Answer 1

If you have any revolving debt (such as credit cards) one of the best investments you can make is to get rid of it. But what you should really do is take a look at a good mutual fund, such as the Vanguard one mentioned, and compare the last 6 months performance to the highest interest rate debt you have. Then put the money into whichever one has the highest rate. If your Visa has an interest rate of 18% and the fund averages a 12% return then you would be better to pay off the credit card. If the fund were performing at 20% though you would be better off to stick your money there. Maybe the wisest thing to do is spend $100 and sit down with a broker or financial planner who can give you up to the minute advice. That's their job, they answer that question for a living.

Answer 2

I do not know how this is a physics question........
However, I would save a about 500-1200 for a spending spree and then invest or save the rest. You should have at least two months work of income saved in an account that you can get your hands on. I actually suggest three months worth. Trust me...I evacuated from Katrina...It is a life saver.

Answer 3

Trade currencies. Short the United States Dollar against the Turkish Lira.

Answer 4

Put $9,500 in an index fund with Vanguard - perhaps total market fund that tracks the Wilshire 5000. Enjoy the other $500 on something you really would like, but also have a need for.

Answer 5

Open an online banking account that pays a high interest rate. Don't buy anything that will depreciate, and invest in a stock that has nothing to do with the housing industry.

Answer 6

Have a good time with 2K and then buy two or three good stocks with the rest. I can give some suggestions.

Answer 7

I would use it as a down payment on real estate..

Answer 8

i would have to totally agree with kcpaull