I have $2,500 to invest but not sure where I should. I'm 24, married, I rent but hope to buy within 2-3 years?

Question

I have $2,500 to invest but not sure where I should. I'm 24, married, I rent but hope to buy within 2-3 years?

Answer 1

If you're only looking to invest for 2 to 3 years then I wouldn't bother with shares. Especially not for only $2500. Shares are only worth while if you're looking for a long term investment (and ideally you would have a larger amount of money to work with)

I'd look into something like a term deposit if you can get one for that amount of money (in Australia you can't get them for less than $5000) Other than that or a savings account there isn't too much you can do with $2500 and for such a short period of time.

Your best bet is probably just to go into your bank and ask them what high interest savings accounts or term deposits they have. I know in Australia you can get online only savings accounts that offer 7% interest but I'm not sure what it's like where you live.

Answer 2

If you'll need the $2,500 to help you buy your home 2-3 years down the road, buy a 2-3 year CD.  

Answer 3

Gold or Silver are a safe investment.

buy unpolished bullion .  

Answer 4

I have always invested in myself if that makes any sense to you, it's the only 100% guaranteed investment you can make. I was able to retire at a early age and now devote my time to my family and helping others do the same. I am always available to answer your questions and help in anyway I can.

Answer 5

Look into short term CD's.

Answer 6

you're on the right track by asking questions. wanting to buy a house tells me you want big returns. my suggestion is to do lots reading on how to invest and understand that nobody cares more about your money than you.

i personally like the motley fool

Answer 7

lock it away in a term deposit. if that is all you have, you cant afford high risk investment.  

Answer 8

Maybe put SOME into shares, not too much though

Answer 9

put it in the bank..do NOT spend it..add $20 to it every week :P

Answer 10

Here is a suggestion I know many people will not see or understand, But Like the Trumps and gates and buffets etc. of the world, when they make an investment in RE or anything what is one common denominator? They all use corporations for all their financing and the reasons are simple which are By using a corporation you get better interest rates, you are not tying up your personal credit and you are protecting your assets. You still have to pay back the loan naturally whether through a corporation or personal but the advantages are well worth going this route. Lets say you personally get sued for whatever reason, you could lose your home and all your other assets but when they are under a corporate umbrella, they can not be touched unless the corporation is sued but if it is a personal lawsuit it can not, does that make any sense? Anyways getting back to your situation with  $2,500.00 you can purchase a aged shelf corporation and during the next year start building the corporations credit which is not to hard to do and if you have a good fico it is very easy. When it comes time to purchase your home, You can now apply for and receive loans just on your signature using the corporation for $100,000.00 to as much as $600,000.00 This way you purchase the home, It is paid in full but you have a corporate note to pay. But it is on your signature through the corporation. If you need someone to coach you through the whole process I suggest [e-mail] they are professionals, they sell aged corporations and you can always ask questions and receive an answer without extra charges like many companies charge. Good luck

Bob