My husband and I have saved about 250k. We have about 15k of debt (auto loans that are just about paid off, and credit cards), not including house note. Anyway, I was just wondering what some of you out there would if you had this money. I have about $10k in stocks, 40k in CDs and a little. I would like to see our money grow. Would you start a business? What would you do to make your money grow? I am somewhat of a risk taker just to keep that in mind in your answers
2007-12-20 08:19:31 · 5 answers · asked by cheryl h 3 in Business & Finance ➔ Investing
1. pay off the debt.
2. open a roth ira
2007-12-20 14:37:35 · answer #1 · answered by njyogibear 7 · 0⤊ 0⤋
Buy canroys! They are Canadian oil & gas royalty trusts. They are at historic lows right now so its really a great time to get in, in my opinion. Besides that fact that most of them pay over 15% in dividends, alot of us invested are expecting prices to go up 50% in the next 6 months. Check yahoo finance and look up stocks like HTE (my favorite) or PVX. The good thing about them is they pay the dividends monthly so you can actually live off the interest if you have enough. 250k would give you a monthy income of 38,000 per year if you bought PVX or about 45,000 per year if you were in HTE.
2007-12-20 08:35:20 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I would pay off the 15K of debt and invest the rest. Your choice of investments should be based on your age, employment, total financial situation and tolerance for risk. Whatver you do, make sure you diversify the investments.
2007-12-20 08:28:38 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Since your a risk taker, I would defintely start a small business of choice like event planning or something and see where it takes you.....
2007-12-20 08:27:50 · answer #4 · answered by smartiebc 5 · 0⤊ 0⤋
invest it.
2007-12-20 08:35:31 · answer #5 · answered by Anonymous · 0⤊ 0⤋