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 Replies: 16 / Views: 2,146 |
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Valued Member
United States
139 Posts |
Hey
I am currently a student, but I have some money saved. I would like to make an investment, but I am not sure what kind? I am thinking somewhere around $1000 to invest. This will be my first investment (first of many I hope). I am open to any suggestions. This is money that I don't necessarily have to have immediate access to either. I have thought about doing lots of things, but I am not sure what is the best. Everything from buying a valuable coin and holding it, to mutual funds, and stock market.
Thanks for any suggestions
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Pillar of the Community
United States
2520 Posts |
What part of the country are you located in?
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Member
United States
917 Posts |
Do you suddenly have a bridge for sale Ratman ?  |
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Pillar of the Community
United States
2520 Posts |
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Pillar of the Community
United States
532 Posts |
I say stock market. Everything is on sale.
Everyone else has already taken the beating. Will it be a straight upward gain from now onward? Doubtful but it really is at a good place to make some bargain purchases.
Who REALLY knows, but past few weeks have been amazing.
Edit- woops spelling check.
Edited by RFB
07/24/2009 02:54 am
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Valued Member
 United States
139 Posts |
im in the SE ratman...what kind of tower do you have for sale haha
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Member
United States
917 Posts |
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Pillar of the Community
United States
2520 Posts |
south of the Carolinas?
Edited by ratman4762
07/24/2009 03:00 am
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Valued Member
United States
139 Posts |
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Pillar of the Community
United States
2520 Posts |
Well, since you aren't in my backyard....If you have a little free time (since you are a student)and if you don't need to invest all that money immediately...try roll searching halves for silver! There is absolutely no financial risk at all, it's fun and can be quite profitable. I've been collecting coins since 1972. But only for the last couple (3 or 4 ) months have I been roll searching halves. In that time I obtained at face value a little more than 2 rolls of 90% silver and more than 10 rolls of 40% silver halves.
face value of 12 rolls = $120.00. Silver melt value of same 12 rolls = $606.52.
Todays price of silver $13.77 oz. You will never lose money on your investment and the potential for profit is very good!
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Pillar of the Community
United States
4085 Posts |
I would open a Roth IRA account and put it into a good, no-load mutual fund. I would start with a low-cost index fund such as Vanguard Total Stock Market Index or Vanguard Target Retirement 2050. Stay away from stock tips or concentrated fad investments and start with something basic.
Ken
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Pillar of the Community
United States
2661 Posts |
 with ratman4762. Search rolls of halves. You only have upside potential there. But if you do decide to play the market, might I suggest Oceanfreight (OCNF). It is a Greek based drybulk carrier and the stock is very cheaply priced with a P/E of only 0.89 and an estimated EPS of $1.52. It has great upside potential in a global economic recovery. I have enough confidence in it that I have over weighted my portfolio with it to the tune of 25% of my holdings and it has already paid off in spades. I am not telling you to buy this stock! Just saying you might want to look at it and make your own decision. Edited by Tim Stroud
07/24/2009 09:40 am
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Bedrock of the Community
United States
20753 Posts |
Currently a student is a little vague. Grade school, high school or college? If not in college yet, you may well find that money your discussing is hardly anything. Having sent some individuals, my kids, to college, I think I spent an equivalent to the nations dept. The stupic meal plan was about that for one semister and seldom used.
So meanwhile back to your money. Remember that regardless of what you do with your money, it is the liquidity of it that may make a difference. I mean if you need money tomorrow or the next day, almost any investment, sort of a bank account, it not advisable.
Coins would take a lot of time finding someone to purchase them. Stocks have to be sold though a broker and they usually send you a check in the mail or a possible direct deposit but it still takes time. Any IRA would mean a penalty for early withdrawals.
So to sum it up, put that money in a savings account for college.
With a college degree you could end up sitting in front of a computer and talking to us about how you just spent that money.
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Member
United States
917 Posts |
Sage advice from just carl I think , do a Fonzy and sit on it ..although like Ratty says , theres no harm dabbling with some bank rolls.Not like your going to lose any money , itll just be heavier  ...and youll jingle when you walk Edited by wetglaswegian
07/24/2009 7:09 pm
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Pillar of the Community
United States
1151 Posts |
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Pillar of the Community
United States
1599 Posts |
I would suggest a Roth IRA. I have found myself approaching retirement and most of my assets tied up in tax deferred funds. Nothing really wrong with that except as tax rates continue to go up, I have to reconsider retirement. On the other hand, considering the current economy, I would be paying off debt with any available cash. That may not be a consideration for you as a student. But when you get my age, your priorities change. Good Luck.
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Replies: 16 / Views: 2,146 |
Posted 07/24/2009 02:46 am
