I have $500, how can I turn that into more money?

Question

I have $500 and I want to turn it into more money via stocks and/or other means. What are some safe ways to buy stocks and how does it work....can they send me a check if I sell a stock? Are there other ways I can turn this money into much more money? (Going to Vegas is not an option lol.)

Answer 1

It's really tough to make money - unless of course you are filthy rich - then it's easier.  But for small amounts of money, consider talking to somebody about mutual funds.  I buy them each month through Weddell & Reed.  

Over the years, this is the only way I've actually made money in the stock market.  Unless you are prepared to study the market A LOT, then slow and steady with mutual funds is the way to go.  But it's a process of many years and lots of patience.

Answer 2

hold on to it and wait.we may enter a stock market crash

Answer 3

Without having more information about your personal information, such as age, current income and other data including risk tolerance, martial status, and demographics it would be very inappropriate for me or any other experience person to provide specific information in this type of media.

However, there are websites that serve as tutorials for novice investors as well as information for the more experienced. Such sites are Smart Money - http://www.smartmoney.com/

Winning Investing - http://www.winninginvesting.com/  

There are other sites that will be of help MSN MONEY -(http://moneycentral.msn.com/home.asp) and Yahoo Finance (http://finance.yahoo.com/),

Investors Hub  (http://www.investors.com/?tn=top), that provide access to various investment products as well as access to several experienced advisors,

Answer 4

You can give it to me and I will have "more money"