Dominic
Well-Known Member
- Location
- Salt Lake City
If someone gave you $8,000 tomorrow and you had to save it or invest it where would you put it to grow?
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Let's pretend...
- Thread starter Dominic
- Start date
Jinx
when in doubt, upgrade!
- Location
- So Jordan, Utah
gold it seems to be the most stable.
but realistically it would depend on how liquid the money needed to be and when you intended on using it.
If you are starting your 401k that you won't touch for 40 years, put it in a 500 index fund and forget you had it.
but realistically it would depend on how liquid the money needed to be and when you intended on using it.
If you are starting your 401k that you won't touch for 40 years, put it in a 500 index fund and forget you had it.
Tacoma
Et incurventur ante non
- Location
- far enough away
Plastics. They're the future.
1995zj
I'm addicted
- Location
- Herriman, UT
New World Fund through American Funds.....seriously though like said, it depends on how long you want it away for. If someone were to just give it to me though, I'd put it in one of my mutual funds like I mentioned and just forget I had it. 10, 20, 30 years down the road it'd be a nice sum of money waiting for you to help retire early 
RockMonkey
Suddenly Enthusiastic
When are you going to need it? A year? 3? 5? 30? That makes a big difference. If you'll need it withing the next year or two then just a money market account somewhere. If you won't need it for 5 years then I'd put it in a mutual fund somewhere (you'll have to find one you like). If you want to save it for retirement then put 5k (or is it $5500 this year?) in a Roth IRA, and put the rest in your 2010 Roth IRA.
Jinx
when in doubt, upgrade!
- Location
- So Jordan, Utah
I like this the best...
- Location
- The Land Northward (Bountiful), Utah
down payment on a house....
just sayin
just sayin
Bear T
Tacoma free since '93
- Location
- Boulder, mt
The Save the Bear Foundation,
downpayment on an investment that grows, on average, at .39% above inflation over the long term
It's definately one of the safest places to put money, but if he's not ready to buy a home right now then over time that 8k would be much better off in a higher interest rate roth.......
....besides, I'm pretty sure that his downpayment is taken care of when he's ready.
pfinder
mudd-addict
- Location
- in orem Utah born and raised
pfinder
mudd-addict
- Location
- in orem Utah born and raised
lol that works
Dominic
Well-Known Member
- Location
- Salt Lake City
I was in a bad accident when I was little, I am fortunate enough to have a structured settlement as a result. I hope no one thinks I am being cocky or boastful in posting this, I try to maintain a certain humbleness about the settlement,I am fortunate yes but did almost die. Every year I get a little and I have nothing to show for it. I want to put it somewhere that it will grow at a decent rate without risking loosing it all. I have plenty of time to let it grow. I have been looking at mutal funds, roth ira, putting into my 401K etc.
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you arrogant bastard! It's not like you're getting rich off of 8k. I think it's smart of you to put it away, and the sooner begin letting it build interest, the bigger it'll be when you're older and want to buy that yacht with the two submarines.
1995zj
I'm addicted
- Location
- Herriman, UT
x2......on the arrogant bastard part