How do you make money really work? (bond, broker, mutual funds)
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
There's no safe way to get rich off of $10,000 period... Sure you might get lucky and double it up, but you're more likely to lose it all.
What I'd do:
First make sure that you have an economic safety net for when the "sh#t hit's the fan". It might not happen, but the feeling safety is worth more than the nominal interest you're going to earn on that money.
Second, pay down any high interest debt.
Third, treat yourself to something nice. Let's be honest... if you're just going to play with the investment, you might as well get something tangible and some good memories to show for it.
Fourth, invest CDs or bonds until we really get a sense of where this market is going.
What are you looking for? If you want to have explosive growth in that money in a short amount of time you're going to have to do something pretty risky (options trading, leveraged ETF trading, casino gambling etc.), illegal (grey market or black market ops), or fiendishly inventive.
Otherwise you should invest the money in yourself (education), pay off debt, put it in real estate, find safer financial instruments, etc. and understand that it's going to take time to make the money work.
Movie Lover this is what I would do. Take the 10G and buy about 600 shares of GE stock (currently trading at 16.50 a share). Hold it for about 6 months until the stock returns to its true value of around $25 a share and sell it. You would make at least $350-$400 in dividend payments over 6 months and profit a nice $8.50 a share when you sell it. Total profit around $5400 over 6 months.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
