If you had an extra $1,000, what would you do to make it grow?

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  1. Rosana Modugno profile image84
    Rosana Modugnoposted 5 years ago

    If you had an extra $1,000, what would you do to make it grow?

    https://usercontent2.hubstatic.com/8357463_f260.jpg

  2. mattforte profile image90
    mattforteposted 5 years ago

    Good soil, good fertilizers, and a greenthumb.

    1. Rosana Modugno profile image84
      Rosana Modugnoposted 5 years agoin reply to this

      LOL  Lots of manure, I'm sure.

  3. drpennypincher profile image93
    drpennypincherposted 5 years ago

    1) If you use the $1000 to pay down credit card debt, you'll get a 'return' on your investment of the interest rate on the card you pay down, typically 12% to 30%.  2) You could invest in the stock market- long term historical growth averages 8% per year.  Pick an index fund with low fees to maximize your profit.

    1. Rosana Modugno profile image84
      Rosana Modugnoposted 5 years agoin reply to this

      I am debt free, so your second option was what I was already thinking.  Looking into Penny Stocks at the moment but not really sure yet. Thanks for your answer though...you were on the right track for sure with me.

  4. Rock_nj profile image93
    Rock_njposted 5 years ago

    Consider investing it in an ETF that pays a nice annual interest rate by way of monthly dividends, such as:

    iShares Mortgage Real Estate Capped ETF (REM) currently pays 15.29% on an annual basis

    SPDR Barclays High Yield Bond (JNK) currently pays 6.46% on an annual basis

    Or if you want to earn tax free interest, then buy a muni bond fund that owns muni bonds in your state.

    Keep in mind that the invested principal (initial $1,000) invested in these funds can gain or lose value based on changes in the values of the underlying assets that comprise the funds.

    1. Rosana Modugno profile image84
      Rosana Modugnoposted 5 years agoin reply to this

      Thanks!  Just what I'm looking for.  smile

  5. wqaindia profile image44
    wqaindiaposted 5 years ago

    Currency Swap may be the alternative. I had to take no action as my $1000 grew from INR 55000 to Rs.70000 without any effort. Just swap the currencies and see the results. If dollar slips down in contrast to euro or pound then you may end up reconverting euros or pound in $ with good extra $. One needs to know about World and IndianEconomyToday. Higher the risk higher the profit be the main criteria.

    1. Rosana Modugno profile image84
      Rosana Modugnoposted 5 years agoin reply to this

      Very interesting!  Thank you!

  6. carlajbehr profile image92
    carlajbehrposted 5 years ago

    I'd pay down my debt and put the money I saved on making money payments into my saving account.

  7. peachpurple profile image81
    peachpurpleposted 5 years ago

    gonna buy domain names and make some profits

    1. Rosana Modugno profile image84
      Rosana Modugnoposted 5 years agoin reply to this

      What's the best way to do this?  I own 10, have tried to sell them.  (That's another question) lol  Thanks.

  8. ChristinS profile image55
    ChristinSposted 5 years ago

    I would reinvest it into my business to grow that and then earn more money.

  9. profile image0
    chrisinhawaiiposted 5 years ago

    I'm with peachpurple on this one...

    Although I'd actually spend a big chunk on outsourcing new content for my current sites first.

  10. lburmaster profile image83
    lburmasterposted 5 years ago

    Stock market and supplies for my business. That would give me a pretty good return.

 
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