Whats the best way to invest 10000 dollars that wont be spent for anoither year?

Question

I have $10000 in the savings right now. I dont plan on spending it for another year-whats the best way to invest for it to grow? thanks guys! I would really like some advice from someone whos done it before.

Answer 1

If you don't mind any risk I'd put $5k in Forex trading. The returns can be insanely high; that's what I personally did.

If you're interested here are reviews of the top 3 selling Forex trading systems: http://forex-tracer.the-perfect-solution...

Make sure you're educated before spending!

Answer 2

well that choice is yours, i mean, you have the option of investing money, so you also have the option to choose what to invest in. i dont have any suggestions, but invest wisely!

and also think this: every time you earn a dollar, think to yourself, 'how can i turn this into two dollars?'

choose to be rich, man.

Answer 3

Most financial advisors will tell you that if you are planning to use the money sooner than 3-5 years out, you don't really have time to invest it in the stock market.  Especially now with the economy and the market so volatile, and your principal isn't guaranteed if you buy stocks or mutual funds with it.

Your best bet is with a money market account or a certificate of deposit.

I have had good experience with ingdirect.com, an online bank with very appealing savings interest rates.  You can set up an account that is linked to your checking account--it is all done completely online and you can transfer funds electronically from one account to the other as you need them or to deposit additional savings.  You can do a variable savings rate and withdraw from it at any time, or set up a CD with a set maturity date.  You can also set up direct regular deposits, where they draft $$ out of your checking account per your instructions, to help you keep a regular savings plan going.

Good luck!

Answer 4

ok, mabye not a thousand but i made 100 off of 10 candy bars.(but you need about ten hobos)

sell them to someone for 1$ each.

than go rob a hobo.

repeat!

lol, i really did it. with the help of my strong cousin~beat up the hobo~

Answer 5

Look into buying gold.  If the economy continues down, gold will very likely increase.

You have to question your risk tolerance.  If you NEED the entire 10K in one year, a CD is probably your safest bet, but worth very little due to current interest rates.

Answer 6

In this shaky economy your best bet would be a CD. Then you're guaranteed the return and can for sure liquidate it after a year.

Answer 7

govern't bonds

Answer 8

buy Yahoo stock

Answer 9

I've had the best luck with CD's. They're not as potentially profitable as other investments and the rates are down right now, but they are guaranteed and safe. You know what you'll be taking out when you put it in. Unless you have some kind of "insider information", the stock market is really risky right now. I bought into a mutual fund that my bank talked me into and lost $800 in a year. I earned a couple of thousand with the same amount of money on a CD.

If you do decide on this option, shop around for the best rate and be sure to get one that the interest compounds daily instead of monthly.

Answer 10

i think keep saving up for a nice car or house

Answer 11

Open a high intrest account.

or give it all me and i'll pay tou back next year :D lol

Answer 12

Well you could put some in long-term IRA and some high risk stocks.

Penny stocks are also good for getting larger returns, see here http://ihavetoadmit.com/doublingpennysto...

Answer 13

Put it in a one year CD

Answer 14

I would invest in a CD or a bond. While these won't earn you alot of money they are safe and guaranteed. With the stock market being so volotile at the moment I would stay away from this as you could end up losing money.

Answer 15

A money market fund is good, they usually get good interest and you can get at the money when you need it without penalty.

Answer 16

Shop around for a high interest CD.  They're insured.