What to invest in with $2000?

What to invest in with $2000?

Postby hieremias » Sun Jun 05, 2011 7:47 pm

Heres the thing. Im 19 years old. recently my dad went to jail for immigration purposes cause the lawyer messed up his paperwork and he was there for 4 months. when they fixed his status i had to borrow 10 grand to get him out. so far im 7 grand in debt to people. My dad would pay it off but hes not in the physical condition to be working right now. So i have to take care of the household. I have a job fixing computers but its not making me enough money to pay off my debt and pay the bills. Right now i have 2 grand that i wanna invest with but im not sure what i can put them in to make some extra money. Any good ideas?
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What to invest in with $2000?

Postby ghazanfar » Sun Jun 05, 2011 7:48 pm

You could do the the stock market and try to day trade your way to getting alot of money or bonds, but those are generally long term
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What to invest in with $2000?

Postby jazmina39 » Sun Jun 05, 2011 7:50 pm

You could do the the stock market and try to day trade your way to getting alot of money or bonds, but those are generally long term
Be safe. FDIC insures certificates of deposit. You can get one or two at any bank. From $100 and up. Separate the $2,000 into two $500 and one $1,000 CD. Only get a short term CD for now. like a 4 or 6 month, if available 9 ask the bank - check the business section of your Sunday paper) That way, y if you suddently need the money to help your family, you can get at it within 4 or 5 months without paying a penalty. you will pay a penalty if you take the money Out before its due date. PS - you will not make a lot of interest money right now but you wil not lose any money either. The money can grow slowly and safely. And you can access it within a reasonable amount of time. When the cds come due, try to stagger them but arranging their due dates to come up at different months.
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What to invest in with $2000?

Postby bradleah77 » Sun Jun 05, 2011 7:52 pm

buy a pound of marijuana and jus sell and make immense profit.. my dad was an immigrant when he came and made a killing off of that but he sold drugs not plants but marijuana is a good kick off to make quick money. im being dead serious
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What to invest in with $2000?

Postby tyree55 » Sun Jun 05, 2011 7:53 pm

You haven't said what percent interest you are paying on your debt. However, you are unlikely to find an investment that will return a percentage that is higher than the interest you are paying on the debt. So your best bet might be to use some of the money to lower the amount you owe. However I would keep a thousand dollars as an emergency fund in a bank.
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What to invest in with $2000?

Postby wilburn » Sun Jun 05, 2011 7:54 pm

Oh jesus, let me tell you straight up. You are not in the situation to invest... that is all speculative. Even in a CD... I mean, you could need that money and have to pay a small penalty. You need to put that money in a savings account, or use part of it to pay down any high-interest debt. One of the best ways to save it to eliminate debt. If you have 2grand, put $1000 in savings and $1000 toward paying off the debt. This is only true if you don't think you will need the $1000 debt-payment for something else more important.

Don't invest it in anything! I mean heck I could say SILVER... it's risen 21% in six months, which I don't even wanna goto the trouble to annualize... 42%?? But it's speculative. It could crash at anytime... in my opinion, it's so high right now (kind of like a bubble) because everybody wants it. I don't see companies needing it more... just consumers wanting it more,and I know personally people who have made considerable money off of investing in it.

In your situation, I would suggest a no penalty CD or a simple savings account for whatever money you just don't need. Use the rest to pay down the bills. If you are not default on the bills, then you can use what's in your savings to pay the bills each month. But the interest you will make is TINY. You'd be better off with a checking account.
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What to invest in with $2000?

Postby levey71 » Sun Jun 05, 2011 7:55 pm

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