How would you invest 1000$

[Biggsly]

All I can tell you is what I would do with it. I would put it in an envelope, mark it as extra money, and stick it back in the safe. Someday when you find something you really want, or a vacation you want to take, you have it.

 

[CGS1]

I would put it in my 401K.

 

[Parks 788]

No expert here but just sat down with our financial guy on Friday. He is well trusted and is working our financials for the first time. He has done wonders for my folks monies that is somewhat substantial. I really like his approach.

Our main concerns were our retirement and our son's college coming up in 3.5 years. We haven't done much for his college and our retirement is on track better than we thought. I'll get to my point shortly.

We have approx $16K in cash set aside for his college and want to find an investment for it to grow for three more years. We are also transferring approx $2K/month into a separate savings account for his college/car fund and any other incidentals. Our advisors recommendation was that with where the market is now and looking back a history he feels that it is a fairly good time to be conservative with investments. He said that everything is priced so high that in may investment options you are paying $90-$100 to earn $100. And then what happens if you see a correction in the markets in the next three years and you are looking at a loss or at best even money at that time. He will be getting back to us with some liquid options for this money to look at and he was good with looking at 6-12 months CDs at our credit union. HE was also good with us just keeping it in our savings as we are now.

HE is also bringing me down on my high risk tolerance in my 401K to a more realistic/moderate level. Because of the long run up with the stock/real estate market he feels it is a good time to be more conservative and will be pushing my 401k options in that direction.

My point is it may not be a great time to invest in achingly aggressive manner as you could stand to loose some of your money if the tide changes. Despite what is happening with the trump economy, it is a lot of peoples opinion that we are well overdue for a correction.

Pay off any debt you have and/or sit on the cash with a 3-6 month CD. Or put in seperate savings account where you have easy access to it in an emergency.

 

[Oklahomabassin]

What are interest rates for a $1000 CD? About 2%? I wouldn't waste the time to take off work and go to the bank for $20.00 even I knew it would only take me an hour tops.

 

[Mack45]

Last time I checked CD rates they were only 1 percent.

 

[MrShooter]

Crypto currency

 

[Parks 788]

What are interest rates for a $1000 CD? About 2%? I wouldn't waste the time to take off work and go to the bank for $20.00 even I knew it would only take me an hour tops.

Yep, they are not much but pay more than a standard savings account. It was only a thought as it keeps the money fairly liquid and can't loose value as a stock or fund could if things went south. All it is is an option

 

[Shadowrider]

A large cap mutual fund or ETF that will return 12% isn't hard to find. I just yesterday saw an ETF that was up 30% in a year. No way I'd do CD's. I'd self direct through an online brokerage and run trailing stops on everything.

 

[Oklahomabassin]

Yep, they are not much but pay more than a standard savings account. It was only a thought as it keeps the money fairly liquid and can't loose value as a stock or fund could if things went south. All it is is an option

Nevermind....time is money.

 

[MacFromOK]

Last time I checked CD rates they were only 1 percent.

http://cdrates.bankaholic.com/