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February 20, 2007 @ 04:12 PM
chris dibiase

Post: 253

Join Date: Mar 2006

Location: vegas implant

so i've came up on a lil dough and instead of blowing the whole thing off on some very nice shoes, i wanted to ask all the finance/econ heads on here what or where is the best place to put this kinda money in? sure i could just dump it into a savings acct, but i need some of yall input on shit like CD's, stocks, mutual funds, or what have you. anyway help a brotha out!
February 20, 2007 @ 04:13 PM
rico227

Post: 1192

Join Date: Dec 2006

Location: BROOKLYN, NYC

just outta curiousity... where the money come from? won a lawsuit or suttin?
February 20, 2007 @ 04:14 PM
T.B.E.L

Post: 2436

Join Date: Jul 2006

Location: Seattle

give it to me =D
February 20, 2007 @ 04:17 PM
chris dibiase

Post: 253

Join Date: Mar 2006

Location: vegas implant

no lawsuit, my mom's just sold one of her properties. she had a lil extra change and wanted to start me up a lil savings. thing is she don't know either where to put the dough.
February 20, 2007 @ 04:18 PM
KINGZ

Post: 54

Join Date: Feb 2007

Location: Sacramento, CA

CD dawg I have one and that joint is safe. interest rates r decent to
February 20, 2007 @ 04:19 PM
chris dibiase

Post: 253

Join Date: Mar 2006

Location: vegas implant

put it in a savings account with high interest. I wouldnt mess with the stock market or CDs unless your either a serious stock broker or you have an artist that is going places.


i hear credit unions have higher interest, is this true? sorry never really got to do research, this news was brought to me only yesterday.
February 20, 2007 @ 04:27 PM
godsownson

Post: 260

Join Date: Jun 2006

yeah all that is nice but unless you plan on never touching the money again for another 10 years, the profit might not be all that. Depending on where you live ,I'd say invest in real estate. For $5,000.00 or $10,000.00 ,you can put down a downpayment for an apartment or a house and then rent it out and have the tenants pay for the mortgage in form of the rent they'll pay to you, until you own the house. Not only will you get back $10,000 in less than a year but you'll also own a house/apartment and by the time you're ready to sell, it'll most likely be worth an extra $20,000 at the least and more on top of that.

P.S This will also be steady income.
February 20, 2007 @ 04:32 PM
tommyroks

Post: 4408

Join Date: Jul 2006

Location: queens

safe way is put in ING or something

I would invest in the market, make sur eu know wht u doing tho.
February 20, 2007 @ 04:33 PM
MystaX

Post: 1758

Join Date: Mar 2006

Location: NJ

cosign on the CD, im gonna put some cash into one shortly... and if u wanna stick it into a an accout, HSBC has online savings accounts at 6% interest... hahaha i was like what are u talkin about charged, CDs are safe
February 20, 2007 @ 04:39 PM

Inactive

buy $10,000 worth of billionaire boys club garments
February 20, 2007 @ 04:59 PM
godsownson

Post: 260

Join Date: Jun 2006

buy $10,000 worth of billionaire boys club garments


and they wont be worth shit in 2 years..lmao. invest in my "company"....
February 20, 2007 @ 05:02 PM
Mr.BrightSide

Post: 635

Join Date: Jul 2006

put it in a savings account with high interest. I wouldnt mess with the stock market or CDs unless your either a serious stock broker or you have an artist that is going places.


Put it in savings,and when ever you need something take some out,but dont go blow it,trust me it feels way better to know that you have money in the bank that you can go and touch when ever you need to....
February 20, 2007 @ 05:03 PM
owensA

Post: 2346

Join Date: Jul 2006

Location: Live from 215

Mutual Funds have very high rates of returns and they're pretty damn safe too. Just do some research on the mtual fund. Or you can always hit up Jim Cramer, dude's a genius. don't do the stock market unless u know stocks which im assumin u dont cuz ur posting on here, i sure as hell dont know shit bout stocks but it can be very risky
February 20, 2007 @ 05:19 PM
Juan

Post: 1136

Join Date: Apr 2006

If you have a couple more freinds with that kind of cash i can help you invest it to make alot more money. It's part of what I do, but you need 45,000 minimum. If not read up and invest it aggresively. The way I see it is 10,000 is not a huge amount, so if you really want to make money take big risks with it. It's not a huge amount to loose. Personally I would not put it in a cd to see maybe $1,000 tops in 2 years. Unless your family can't pay for your college or something like that.
February 20, 2007 @ 05:22 PM
owensA

Post: 2346

Join Date: Jul 2006

Location: Live from 215

^^ 10k is a lot to many people, in fact to the majority of the population 10k is a very substantial amount of money to lose. If you consider that the median income in the US is around 30k then you need to recognize that that's about 1/3 of annual income. And btw u mind giving us an idea of what u do with that 45k im rather curious.
February 20, 2007 @ 05:23 PM
Juan

Post: 1136

Join Date: Apr 2006

yeah all that is nice but unless you plan on never touching the money again for another 10 years, the profit might not be all that. Depending on where you live ,I'd say invest in real estate. For $5,000.00 or $10,000.00 ,you can put down a downpayment for an apartment or a house and then rent it out and have the tenants pay for the mortgage in form of the rent they'll pay to you, until you own the house. Not only will you get back $10,000 in less than a year but you'll also own a house/apartment and by the time you're ready to sell, it'll most likely be worth an extra $20,000 at the least and more on top of that.

P.S This will also be steady income.



Not a good idea in my opinion. From his post I'm guessing he doesn't have much more money besides the 10 g's. 1. Good luck finding an apt. that all you need for down payment is 10,000. 2. What is he going to do if he can't find a tenant for a couple of months, or if the a/c breaks in the apt. He won't be able to pay for it.
February 20, 2007 @ 05:28 PM
Juan

Post: 1136

Join Date: Apr 2006

OwensA if you're looking to make money a 10,000 start is not very much. I gave my opinion. If that was all I had I would take the risky route. I'm not looking to make 1,000 in 2 years. Alot investment firms will not take a $10,000 investment.
February 20, 2007 @ 05:35 PM
owensA

Post: 2346

Join Date: Jul 2006

Location: Live from 215

OwensA if you're looking to make money a 10,000 start is not very much. I gave my opinion. If that was all I had I would take the risky route. I'm not looking to make 1,000 in 2 years. Alot investment firms will not take a $10,000 investment.


No im not doubting ur advice at all, I was just stating that to many people 10k is a very large amount of money to risk and that, consequently, many people are unwilling to risk that much. As an investor im sure ur away that most ppl are risk advese. I suggested the the mutual fund route if he doesn't know much about stocks or investment as those do have decent return for quite low risk. Ur opinion is certainly valid, but if all u got is 10k it's not easy to just put it all on the table and put it in a risky investment position. And also, what kind of investment are u in as u said u needed 45k (which im away is not that much either)to start, im genuinely curious, not trying to come off confrontational
February 20, 2007 @ 05:45 PM
Juan

Post: 1136

Join Date: Apr 2006

I understand your point. I just meant what I would do. Obviously if this guy is struggling to pay rent and doesn;t have insurance etc. He should stay far away from my advice. It sounded to me tho that he comes from a good family, where if anything goes wrong he has something to fall back on. I do private investments, but I don't really want to give details out on this thread. If you're really interested, send me a pm.
February 20, 2007 @ 05:53 PM
owensA

Post: 2346

Join Date: Jul 2006

Location: Live from 215

right right. ya, really depends on his situation. I just wasn't sure about dude's financial position b/c on one hand his mom just sold a property and gave away 10 grand but on the other hand he said his mom has no idea how to invest hte money, kind of an odd situation for some1 to know so little about investing $ but at the same time being able to sell real estate and give her son 10k straight up. Could be she's a rich woman with mad money n a few properties or she just sold the apartment her dead uncle gave her in his will...
February 20, 2007 @ 06:11 PM
cuddles

Post: 2556

Join Date: Mar 2006

Location: Vegas

didnt get to read everybodies posts cuz i am off to work but def. mutual funds, not sure how many finance majors or investment heads we have on here other than brianfromchicago and myself but ya, get a good no load mutual fund there are a lot of them to choose from so just do some research a good site to learn a little about investing for beginners would be finance.yahoo.com
February 20, 2007 @ 06:41 PM
casanova

Post: 647

Join Date: Jul 2006

Location: Inglewood

okay i read all the post and i still dont know what a CD is?
February 20, 2007 @ 06:48 PM
azfan

Post: 341

Join Date: Oct 2006

Location: SoCal

go to school.
February 20, 2007 @ 07:31 PM
chris dibiase

Post: 253

Join Date: Mar 2006

Location: vegas implant

damn, thanks for all the feedback. yea i don't think ima do the real estate route, what i really wanna do is just put it in some acct and like sit on it for some years. as for my situation i already have a savings that i've put together myself for the past 4yrs, it ain't no 10k tho. i might just check out that yahoo finance after this.
February 20, 2007 @ 07:44 PM
mackelface

Post: 359

Join Date: Oct 2006

okay i read all the post and i still dont know what a CD is?


A CD is like a savings account except you get a higher interest rate and you can't touch it. I recommend you do that with it, if you shop around online you can find rates upwards of 5%.
February 20, 2007 @ 07:44 PM
owensA

Post: 2346

Join Date: Jul 2006

Location: Live from 215

if ur trying to sit on it, look into mutual funds for sure. it's prolly ur best option, much better returns than any interest that the bank'll give ya and it's pretty damn safe, def read up tho, it is 10k so u better educate urself on where u $ might b goin
February 20, 2007 @ 09:16 PM
rayshiest

Post: 1093

Join Date: Sep 2006

Location: brownsville brooklyn

i asked this same question a couple months back with 2,000. now its 700.













/wrist
February 20, 2007 @ 09:47 PM
ichapelle

Post: 215

Join Date: Dec 2006

OH Shoot!
What happened
February 20, 2007 @ 09:49 PM
passivaggressiv

Post: 99

Join Date: Mar 2006

okay i read all the post and i still dont know what a CD is?


Certificate(s) of Deposit.
February 20, 2007 @ 09:52 PM
T.B.E.L

Post: 2436

Join Date: Jul 2006

Location: Seattle

buy $10,000 worth of billionaire boys club garments


and thats STILL only a weeks worth of clothes..razz

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