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Started By
Message
$1000 to invest or save? (Beginner here)
Posted on 9/26/12 at 11:53 am
Posted on 9/26/12 at 11:53 am
I have about $1000 in savings I would I like to put to good use, I've never done anything with a money market before, but I'm willing to try something new.
Where do I start?
thanks!
Where do I start?
thanks!
10
Posted on 9/26/12 at 12:05 pm to GeauxTigersGo
What portion of your savings is the $1000?
Posted on 9/26/12 at 3:38 pm to GeauxTigersGo
Is that all the savings you have or is it an additional amount you have above your reserve, emergency savings?
Posted on 9/26/12 at 3:43 pm to GeauxTigersGo
Put it in your checking account. Act like a $1000 balance is zero. The fees saved on avoiding a bounced check is more than you'd make in interest elsewhere.
Posted on 9/26/12 at 3:50 pm to Ric Flair
quote:
The fees saved on avoiding a bounced check is more than you'd make in interest elsewhere.
WHAT?
Simple solution: Don't spend more than you have then you don't have to worry about bouncing checks like a doofus.
Posted on 9/26/12 at 3:51 pm to GeauxTigersGo
I would set it aside to use in emergency situations. It's a nice cushion to have.
Posted on 9/26/12 at 7:44 pm to Brian Wilson
quote:
I would set it aside to use in emergency situations. It's a nice cushion to have.
Dave agrees with this
Posted on 9/26/12 at 8:03 pm to GeauxTigersGo
Keep it in the savings account and pretend you don't have it to spend
Posted on 9/26/12 at 8:48 pm to GeauxTigersGo
I hate to break it to you, but the investment climate these days is so poor right now that it almost doesn't matter what you do with one grand. If you had a couple million it might be different but with 1K I would go one of two ways:
1) Just stash it in your checking account, use it as a reserve.
2) Gamble on stock picking and day trading.
I would very seriously consider option 2, and I'm not flaming or joking. Pretty much everyone will be tempted to play with fire at some time in his investment career, and with only $1K at stake this is a good time to learn your risk tolerance. But learning your limit is the point here, not trying to get rich.
There is only one way to learn what keeps you up at night, after all. Better to do this now.
1) Just stash it in your checking account, use it as a reserve.
2) Gamble on stock picking and day trading.
I would very seriously consider option 2, and I'm not flaming or joking. Pretty much everyone will be tempted to play with fire at some time in his investment career, and with only $1K at stake this is a good time to learn your risk tolerance. But learning your limit is the point here, not trying to get rich.
There is only one way to learn what keeps you up at night, after all. Better to do this now.
Posted on 9/26/12 at 11:12 pm to foshizzle
$1000? Bet the ravens moneyline at home tom,my book is at -1000 that's easy $100 and 10% have you seen the browns offense? Sweden doesn't have a prayer
Posted on 9/26/12 at 11:32 pm to foshizzle
quote:
I hate to break it to you, but the investment climate these days is so poor right now that it almost doesn't matter what you do with one grand. If you had a couple million it might be different but with 1K I would go one of two ways:
1) Just stash it in your checking account, use it as a reserve.
2) Gamble on stock picking and day trading.
I would very seriously consider option 2, and I'm not flaming or joking. Pretty much everyone will be tempted to play with fire at some time in his investment career, and with only $1K at stake this is a good time to learn your risk tolerance. But learning your limit is the point here, not trying to get rich.
There is only one way to learn what keeps you up at night, after all. Better to do this now.
To be fair, either the investment climate remains meager or deteriorates further and $1,000 is still relatively insignificant, or the investment climate rebounds and $1,000 yields appreciable gains in the relative long term (if yields reflect the general investment climate). If we assume that the current investment climate is particularly poor then buying and holding seems like the best option.
Posted on 9/27/12 at 8:05 am to foshizzle
quote:
2) Gamble on stock picking and day trading.
don't you need more than 1k to day trade?
Posted on 9/27/12 at 8:07 am to foshizzle
which platform do you use fo
Posted on 9/27/12 at 8:56 am to GeauxTigersGo
are you in school or out of school? if your in school i'd buy $1,000 worth of something you can re-sell and get to hustling. if your out of school. i'd do the same thing, look for an opportunity to flip your chips till you get enough money, then invest in real estate, commercial not residential.
This post was edited on 9/27/12 at 9:05 am
Posted on 9/27/12 at 9:39 am to BowDownToLSU
quote:
Dave agrees with this
Who is Dave?
Posted on 9/27/12 at 12:37 pm to ThaBigFella
quote:
$1000? Bet the ravens moneyline at home tom,my book is at -1000 that's easy $100 and 10% have you seen the browns offense? Sweden doesn't have a prayer
Posted on 9/27/12 at 2:01 pm to GeauxTigersGo
If you already have a little extra for emergencies set aside, establish a Roth IRA and split it over a couple ETFs. It's a really easy way to develop good habits and begin to build for your retirement.
Posted on 9/28/12 at 3:09 pm to GeauxTigersGo
double post a day later wtf
This post was edited on 9/28/12 at 5:28 pm
Posted on 9/28/12 at 5:54 pm to acgeaux129
That's ravens bet I told u wa money!!! Byu is -6500 tonight that's right put down $6500 to win $100 lock of the day...double down man that's how you get rich
Posted on 9/28/12 at 6:30 pm to ThaBigFella
GTFO with this shite.
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