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you have $2,000 to invest. Now what?

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Old 06-21-2013, 08:54 PM   #1
Are these black helicopters for me?
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you have $2,000 to invest. Now what?

If you had $2000 to invest in something right now what would it be? Truck parts don't count...

What do you think would be the best way to make money with this money?
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Old 06-21-2013, 08:56 PM   #2
Red
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Either a 12 month CD, or if you are savvy with watching stocks (assuming you have an IRA account in good standing) I'd go with the latter.
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Old 06-23-2013, 01:01 PM   #3
Ace of Spades
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Silver. Its down right now, and mints are at full production. Eventually the charade will stop
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Old 06-23-2013, 01:05 PM   #4
Yeti Hunter
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Quote:
Originally Posted by Large View Post
Either a 12 month CD, or if you are savvy with watching stocks (assuming you have an IRA account in good standing) I'd go with the latter.
why would you want to earn 0.10-0.15% on a cd? might as well just do a savings net result will be approximately the same.


I would say pay yourself first, go start an IRA if you don't have one and let a financial advisor help you from there.
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Old 06-23-2013, 01:06 PM   #5
subaru of america
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buy $2000 worth of scratch offs.
your bound to win big!!
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Old 06-23-2013, 01:14 PM   #6
Vivid Illumination
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Might be worth opening a Roth IRA depending on your age. You'll need to contribute more than that to get the real benefit out of it though. Or are you looking for something that you can invest in now and rip it all out in a year? If that's the case your best bet is probably stocks if you can figure it out lol.
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Old 06-23-2013, 01:15 PM   #7
Senior Member
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Hi,

I am a licensed broker and you can check my certificates on BrokerCheck.org. I can tell you a few things about investments. I have my series 6 and 63 and practiced mostly in retirement planning for my clients.

http://brokercheck.finra.org/Search/...=&PageNumber=1

I stopped doing the financial planning part but still have my licenses.

.
.
.
Right now CD's are a terrible investment. So do not follow that route. As Ipreferwater stated - you should start a retirement account. You should look into something at your local bank branch or even online.

Since your initial investment is rather low of $2,000.00 you should truly try to find something with a small amount of fees. You need to find a financial advisor that isn't going to bleed you dry over the next 40 years. You should use that money to jump start your planning though. You can add a certain dollar amount to your account per year as well based upon your tax bracket. I am not a tax advisor; so I may suggest you speak to one to find your exact deposit amount based on your tax brackets.

Thats my two cents for you. Do not put your money in any deposit accounts. Savings accounts are even worse yields than CD's right now.

Thanks man and good luck!
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Old 06-23-2013, 01:19 PM   #8
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ROTH IRA no doubt,Preferred Stock
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Old 06-23-2013, 01:22 PM   #9
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10 year CD with a low cost charge for early withdrawal. If you don't have a large emergency fund already saved up this is smart for two reasons. You can save way more this way over a savings account and if you need the money in a year, you'll still come out ahead.

http://www.nerdwallet.com/blog/rates...arket-account/
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Old 06-23-2013, 01:28 PM   #10
Cornfed
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Use it to pay of any debts you have, or put it in savings.
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Old 06-23-2013, 01:34 PM   #11
Wild Ginger
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You said you wanted to make money, so forget a CD. You didn't say you wanted to lose money, so forget precious metals. Look into an IRA.
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Old 06-23-2013, 01:43 PM   #12
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Quote:
Originally Posted by BrettBretterson View Post
You said you wanted to make money, so forget a CD. You didn't say you wanted to lose money, so forget precious metals. Look into an IRA.
Plus an IRA is Tax Deductable
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Old 06-23-2013, 01:45 PM   #13
I bring the feel goods
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I'd forgo the stock market..

Personally I'd save it and hit up some rich neighborhood garage/estate sales. I've found some pretty awesome deals that I turned around and sold the very next day or 3x more.

An old teacher found a trumpet for 200$ worth 5k at a sale. With a little work and patience you can find those deals. But who wants to work nowadays?
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Old 06-23-2013, 01:47 PM   #14
"Pick up some speed.. You'll make it."
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Build to order guitar, or a new pedal bike and a banjo.


Specifically a 12 fret Grand Concert Taylor custom built to order [or] a Trek 7.5 FX and a Recording King Madison RK-R35 Resonator Banjo.
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Old 06-23-2013, 01:57 PM   #15
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I'd pay off one of the wife's many credit cards.
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Old 06-23-2013, 02:06 PM   #16
.....
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Put it in retirement or start one
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Old 06-23-2013, 02:12 PM   #17
Hillbilly
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I don't think 2k would last with me. I'd keep a little to live on, and give the rest to my parents to pay the bills...
But if that wasn't a problem, I'd just throw it in my savings account. I haven't really done much research on investing. All I know is that my dad saved about a grand and put it into GM stock- then a couple months later, they went kablooey... lost all that money, as far as I know.
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Old 06-23-2013, 02:19 PM   #18
I bring the feel goods
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Quote:
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Put it in retirement or start one
I assumed this was already happening, and if not this
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Old 06-23-2013, 02:20 PM   #19
The more people I meet, the more I like my dogs.
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Buy me a good coon hound
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Old 06-23-2013, 02:38 PM   #20
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Buy gold.
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