where is the best place to invest 800 dollars???

Question

plz genuine answers only not internet gimmicks like make money for free

Answer 1

find a good mutual fund with a history of good returns

Answer 2

Put it in a savings account where $800 is enough to open the account and pays you the highest interest rate. I don't know if CITI will let you open an account with $800, but they're offering over 5% annually which is pretty good. ING might be good to look into too.

I suggest a savings account because its low risk(it's federally insured) and you can access the money without penalty. Oh yes, make sure there is no penalty or fee for getting your money out. And find out the minimum balance you have to keep to avoid a monthly maintenance fee. Don't let your balance fall below that.

I would not put it in a Certificate of Deposit or other Time Deposit because that money is not liquid. You'd have to pay an interest penalty if you took it out prior to maturity. Plus a good savings account such as a CITI or ING will beat out the rate you'd find on a CD at your local bank.

A mutual fund is also not a bad idea, but when you account for the fees, the increased risk, the fact that you're asking about investing $800, not $80,000, it doesn't seem worth it. My advice would be to put it into a good savings account. It's totally liquid with a decent, guaranteed return. And then when you save more money, where the fees are neglible relative to your balance and that balance can withstand a little more risk, then I would consider a mutual fund or other like vehicle.

Or you could take it to a Roulette table at your nearest casino and put it all on black. Or was it red? :)

Answer 3

put it into a high interest Money Market Account. Go to Bankrate.com to search the best rates from banks.....last I looked GMAC was the best interest rate, over 6%. Also, if you are a student, look into a local credit union...Money Market accounts are good because you only need a minimum of $500 to open one, and you can still use your money if need be....most have a cap of 6 transactions/ month....doable if you don't need to use the money right now.. the more that sits in there the more money you'll make! The only way to insure that you'll have your money is to keep it!

Answer 4

Buy a deep freeze for $300-400 dollars, then use the other half of the money to stock up on stuff when it's on sale.

In my experience, a deep freeze will generate over $1000 annuallly in food savings for a married couple, no children. If there are children involved, it saves you even more.

Answer 5

The stock market is a great place for it, especialy with a small amount that you can build on. Small cap stocks are stock ranging from around $1-5 and they have the potential to double if not triple in weeks if not days! You can find these stocks easily with a little research, I am using http://goldenbullpicks.com check them out you will be impressed! And always remember to do your own research.

Answer 6

The best place to invest is always the stock market. Even if the stock market goes down, you can buy ETFs like SDS, that go up when the stock market goes down. Here is a link to my portfolio at http://www.top10traders.com - it has all my favorite investments right now.

http://top10traders.com/viewportfolio.aspx?userID=5

Answer 7

Well, when EUR/USD hits 1.4000 sell about 40k units at 400:1 margin. and let that go until until it retraces back down to 1.36 or so. After that, put the 1600 profit into an margin account and branch off into mutual funds and options.

Answer 8

Buy silver, or just save it up.

I rarely have more than $800 at a time to invest, and I've done more than anybody can tell me they did comparitively when they do stocks.

Answer 9

I would gladly pay you on Tuesday for your $800 today.

Answer 10

Buy lotto tickets