I have 10000$ what would be the best investment I could do?

Question

So basically I received a car from my uncle who moved oversees the car is worth about 10000. I don't need a car since I live in NY so I basically am going to seel it. What should I invest in and how, ...any kind of advice is appreciated. ...Thank you

Answer 1

well if your like 18 years old then i would definately put the money towards collage, but dont just spend it on anything is cool, since you could go into dept and you want to pay the bills. and you never know, life has surprises and you might need money urgently.

Answer 2

It depends on your tolerance for risk.  You can be very safe and get a guaranteed low return or gamble on bigger returns.

Answer 3

You have a nest full of eggs right now. Let's see how many of them hatch, and how healthy the new chicks are.

In other words, having a car that's worth about ten grand doesn't mean anyone will pay that for it. I'd sell the car and then decide how much you have to invest.

Good luck.

-Stuart

Answer 4

The first thing you should do is educate yourself about the facets of the stock market. Once you have done that, you need identify what are your goals for trading. In other words, you need to develop a personal trade plan.

A trade plan defines where you are, where you want to be and how you will get there. The importance of a trade plan is it takes the emotions out of trading. It's a system you develop according to your risk level. You are no longer trying to trade the entire market. Instead you focus on select patterns and indicators to leverage opportunities in the market.

It already sounds like you have some ideas of what your goals are. Now you have to define how it is you will achieve your goals. You can define how risk you are willing to take on to achieve your goals. What will be your long term goal. How does break down into monthly, weekly and even daily goals. All of these are different questions to help formulate your trading system..

Once you have it set, then you create routines and checklists to implement or put your trading strategies in action. Sticking with your plan, routines and checklists will help remove the emotions out of your trading and focus on the fundamentals and technical analysis of trading.

Answer 5

I would invest in an electric car :D

Answer 6

I would invest it on cisco corporation

Answer 7

if you have 10K , diversify your investment to different investment, don't put your everything in one basket , investment is risk , but return is good if you are lucky or good , but with my experience , this is my investment with over 100K , their minimum is 15K , i appreciate their job.take a look

Answer 8

If your young I would put it in a medium to high risk mutual fund.  This is what I have my children's college fund in and I make a lot of money towards their education.  I made 1,000 last quarter.

Answer 9

Throw it all in a bank!!! :) and watch it grow

Answer 10

if you don't have an emergency fund that will support you for six months, SAVE it in a bank or short term CD. Otherwise, I like bank preferreds, specifically JPM-PS or PZ yielding aver 7.5 percent right now. Everything else is too risky.

Answer 11

I woukd save about half... you know, to get you out of a jam in the future...do you want to get a new car? or do you want to buy a house? idk lol Pretty much make sure you save half... you live in NYC? stock market baby

Answer 12

I advice u invest in Stock,buy Share!

Answer 13

I would suggest that you invest your money in stocks market (long term) and you can do your research like getting information through internet..and through my own experience i advise you against saving your money in the bank because their interest rate is way too low that still insignificant after over a year of savings..i advice also against educational plan because the money you save in this plan can't be used if you or your beneficiary decided not to go to school (either in college or universities)..try to search mutual funds (free tax and protected)..to begin with..try the website of Western Reserve Life it's almost over the world..specialty in Life Insurance (long term)..money market..mutual funds..savings account with much higher interest rate of at least 4% compare to banks of .1%..

Answer 14

I found a great opportunity to invest at 8% APR with no risk.

Feel free to email me at FastMoney2000(at)yahoo.com for more details.