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Just got $1000.00... what to do with it?

post #1 of 57
12/8/10 at 11:36pm
Thread Starter 
My grandmother's estate is finally settled and I got $1000.00 this morning.
So tell me, what to do with it! I don't plan on having kids, so no need for college savings. I am still young (21) and in college, but I have no bills since I am in the military. And I am going active duty, so no real need to save for a house. Thoughts?
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post #2 of 57
12/8/10 at 11:40pm
If you have an interest and the motivation, I would start investing in the stock market.
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post #3 of 57
12/8/10 at 11:40pm
Put it in the bank and think about it for a while.
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post #4 of 57
12/8/10 at 11:45pm
Quote:
Originally Posted by musicguy View Post
If you have an interest and the motivation, I would start investing in the stock market.
I agree. Buy stocks with high dividend yields such as CXO or JNJ.
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post #5 of 57
12/8/10 at 11:47pm
Whores.
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post #6 of 57
12/9/10 at 12:15am
You can buy this house: http://www.realtor.com/realestateand..._M49403-87464#
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post #7 of 57
12/9/10 at 12:17am
put away $500 into some sort of long term savings and then go play with the other $500. if you have 500 you'll spend 500, if you have 1000, you'll spend 1000... see how that works. so enjoy/blow the 500 but still be responsible by saving something for later.
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post #8 of 57
12/9/10 at 12:58am
Thread Starter 
Quote:
Originally Posted by Sherlock View Post

You couldn't pay me 1000 an hour to live in Detroit
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post #9 of 57
12/9/10 at 1:22am
PM me and I'll give you my paypal account......
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post #10 of 57
12/9/10 at 1:36am
Thread Starter 
Quote:
Originally Posted by Master-Classter View Post
put away $500 into some sort of long term savings and then go play with the other $500. if you have 500 you'll spend 500, if you have 1000, you'll spend 1000... see how that works. so enjoy/blow the 500 but still be responsible by saving something for later.

Would you recommend just putting it in my normal savings account? Or perhaps one of those high-yield savings accounts? Such as... Emigrant Direct (1%), Ally (1.09%), etc? I have seen this accounts at over 6% pre-recession....
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post #11 of 57
12/9/10 at 1:40am
put it in an index fund and forget about it for 10 years.
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post #12 of 57
12/9/10 at 1:48am
help a nigerian
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post #13 of 57
12/9/10 at 1:49am
Quote:
Originally Posted by cahlersmeyer View Post
Would you recommend just putting it in my normal savings account? Or perhaps one of those high-yield savings accounts? Such as... Emigrant Direct (1%), Ally (1.09%), etc? I have seen this accounts at over 6% pre-recession....

oh I'm no finance dude. all I meant was that whenever i get money coming in, I always take a portion off the top and put it away into a mid-long term saving of sorts. if it's regular income then i take maybe about 10-15%, and if it's something like this taht's just a bonus then I'd take half. that way I can sleep easy knowing I'm being responsible about saving something and can relax and just blow the rest on whatever I want. I've also found that desires expand to their budgets... so if you have a free $500, then that's what you'll spend and if you have $1000, then you'll spend all that. but it's the same act/fulfillment of just spending and getting something, so why waste the extra $500?

as for where/how to invest, I don't know. I assume you've got some money somewhere tucked away that's growing, just add this little bit to the pile.
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post #14 of 57
12/9/10 at 1:49am
Do something memorable. Go skydiving or mountain climbing or some such shit. The stock market is for suckers.
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post #15 of 57
12/9/10 at 2:13am
Quote:
Originally Posted by Rambo View Post
Do something memorable. Go skydiving or mountain climbing or some such shit. The stock market is for suckers.

THIS:

That or save for retirement.
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