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The Water Cooler
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Investing small amounts of money.
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<blockquote data-quote="HoLeChit" data-source="post: 2759847" data-attributes="member: 35036"><p>I'm cashing in on an old 457 investment account, I'll be coming upon $3800, $2800 after taxes. Best way to go about using this? I have about $3200 in debt, aside from my car. This money could put me very close to paying off debts. However, I was seriously considering taking $600 to purchase a toy (prob a new gun) and then using the rest to pay off debts. However, are there any worthwhile ventures I could invest in with such a small sum of money and make my money work for me?</p><p></p><p>WhileI would love to be debt free(or at least leaps and bounds closer), I feel that finding a way to make my money work for me would be a more profitable scheme in the long run. I can and have been paying double or triple my minimum payment on my debt for a while, so paying it off is not a problem. My question is, how do I go about making my money work for me? Buy up some affordable highly desired guns and wait for the next gun control scare? Buy up some stocks and hope for the best? I love economics/investing and can do alright with investing. I'm just looking for a fresh mindset. </p><p></p><p>Thoughts? Ideas?</p></blockquote><p></p>
[QUOTE="HoLeChit, post: 2759847, member: 35036"] I'm cashing in on an old 457 investment account, I'll be coming upon $3800, $2800 after taxes. Best way to go about using this? I have about $3200 in debt, aside from my car. This money could put me very close to paying off debts. However, I was seriously considering taking $600 to purchase a toy (prob a new gun) and then using the rest to pay off debts. However, are there any worthwhile ventures I could invest in with such a small sum of money and make my money work for me? WhileI would love to be debt free(or at least leaps and bounds closer), I feel that finding a way to make my money work for me would be a more profitable scheme in the long run. I can and have been paying double or triple my minimum payment on my debt for a while, so paying it off is not a problem. My question is, how do I go about making my money work for me? Buy up some affordable highly desired guns and wait for the next gun control scare? Buy up some stocks and hope for the best? I love economics/investing and can do alright with investing. I'm just looking for a fresh mindset. Thoughts? Ideas? [/QUOTE]
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