If you had an extra $1,000, what would you do to make it grow?
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.
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.
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.
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.
I'd pay down my debt and put the money I saved on making money payments into my saving account.
What's the best way to do this? I own 10, have tried to sell them. (That's another question) lol Thanks.
I would reinvest it into my business to grow that and then earn more money.
I'm with peachpurple on this one...
Although I'd actually spend a big chunk on outsourcing new content for my current sites first.
Stock market and supplies for my business. That would give me a pretty good return.
by SPomposello 13 years ago
Let's say your employer doesn't match anything with your 401k, and you have no issues with saving money, you don't have a million expenses... is there any point in having a 401k, iRA, or anything of that sort then?I've got two jobs plus I'm married, my wife works, our expenses are low, I have a...
by Lizam1 5 years ago
You have 48 hours to raise $2,000. How will you do it?There are stories all over the web about products and services that take off. Others have a garage sale and turn a good profit. How will you make $2000 in 48 hours (lottery is not an option)
by HarshitG 12 years ago
Hey,As many would be aware of that stock market is one of better way to invest and reap benefits from . So what i want to know is do you guys really invest in Stock market or stick with Fixed deposits and bank interest ratesHarshit
by theboxmeister 14 years ago
Have you invested money in HYIPs ?HYIPs are high yeld investment programs that pays interest on daily basis.
by James Robertson 4 years ago
You aren't much of a gambler but you decide to buy one lotto ticket. You check up on the numbers a few days later, well after the lotto has taken place, and what do you know? You won!!! You are the newest lotto winner!! To keep things very simple lets say, after taxes, you come out with $1 million....
by Catherine Dean 12 years ago
If you had the money to spend, would you pay $16,000 for a pocketbook?
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