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1. buy stocks with it
2. buy 1oz of gold
3. throw it into your Roth IRA
And why?
if it's just 1100, i would save it in my Emergency fund. if you have more than 6 months in the emergency fund already, i would open a schwab account (a free account. make sure), and buy S&P500 with the 1100.
if it's just 1100, i would save it in my Emergency fund. if you have more than 6 months in the emergency fund already, i would open a schwab account (a free account. make sure), and buy S&P500 with the 1100.
I already have more than 6 months of emergency money.
You can do #3 and still do #1 or #2. I think gold is a terrible thing to buy so I'd lean toward buying stocks.
I have a Roth IRA. It was opened around 2001 and only because I didn't qualify for an employer-sponsored 401k. When I finally became eligible for a 401k, a few years later, I stopped funding my Roth IRA and now my 401k is about 3x as big as my Roth IRA. I contribute 15% to my 401k.
Gold fluctuates quite a bit. I remember back in the 80's it was up to about $800 per ounce (that's about $2K in today's money) and it dropped down under $300 in the late 90's/early 2000's.
I have a Roth IRA. It was opened around 2001 and only because I didn't qualify for an employer-sponsored 401k. When I finally became eligible for a 401k, a few years later, I stopped funding my Roth IRA and now my 401k is about 3x as big as my Roth IRA. I contribute 15% to my 401k.
If all credit card debt is paid and emergency funds have been set aside, I would open an ING Sharebuilder account and put the $1,100 into a good long term investment stock like BRK-B. Buy in to Berkshire and forget you own it, except for when you want to buy more, and let Warren Buffett put it to work for you.
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