$500 Investments...

shopgirl · #1 12-04-2002, 01:00 PM

Are there any savvy investors on Greek Chat?
If so, how would you invest $500?
How about $1000?

madmax · #2 12-04-2002, 02:20 PM

If you have any credit card debt with "18%" rates then pay off your debt. That right there would be an 18% return.

If you don't have any debt then go to bank and put the money in a CD.

Optimist Prime · #3 12-04-2002, 02:27 PM

amazon.com or suncom wireless but also that company that makes those chemical handwarmers

chopper816 · #4 12-04-2002, 07:24 PM

i would buy ford stock!!! its kinda low right now, but if you want something for the long term, its a wise investment.

aephi alum · #5 12-04-2002, 09:33 PM

Don't invest in the stock of any company whose name ends in .com

If it's only $500 or $1000 it's probably not worth putting in the stock market. You would only be able to get a few shares unless you're buying penny stocks.

I'd use it to pay down or pay off debt, or save it if you have an upcoming big expense.

shopgirl · #6 12-04-2002, 10:13 PM

Thank you all.

I appreciate your input.

I agree that it would be wise to pay down debt. However, when should you invest? For example, do you wait until you have an extra three, four, or five grand? It seems as though there will always be debt of some kind to pay down. In that case, do you never invest?

chopper816 · #7 12-04-2002, 11:19 PM

i think youd have to find a good balance. if you never invested, but you decided to pay off your debt, then what are you going to do when you retire? you wont have anything to pay off, but youll have nothing to live off of either. so like i said, a good balance is needed. you could make it a priority to pay off your debt, but set aside a portion of your disposable income for investing. my parents always told me growing up to save a portion of my allowance or paychecks when i work and put it in savings, well you could do the same. set aside some of your income for investments.

valkyrie · #8 12-05-2002, 01:10 AM

Every time I see this thread I think hmmm, $500 investment? That's easy! I'd buy a handbag! $1000? Even better!

Sorry, I know that's not what you meant, but it's a great investment!

Rudey · #9 12-05-2002, 02:23 AM

fool.com It'll help you understand when the best time to invest is and how to go about finding the best method for you. If you really feel like you want something more advanced than the Motley Fool to guide you, I'd suggest reading Barrons.

-Rudey

shopgirl · #10 12-05-2002, 11:57 AM

Quote:

Originally posted by valkyrie
Every time I see this thread I think hmmm, $500 investment? That's easy! I'd buy a handbag! $1000? Even better!

Sorry, I know that's not what you meant, but it's a great investment!

It's tempting...

shopgirl · #11 12-05-2002, 12:02 PM

I appreciate all of the replies.
I just want to start somewhere...and soon.

Rudey- I'll check that site out.

Chopper816- That makes sense.

Thank you.

damasa · #12 12-05-2002, 08:10 PM

What kind of investment are you looking for? Something shorter orterm or something to invest for a longer period of time? That can make a world of difference.

I highly suggest not putting your money in the stock market right now. Some stocks are doing well but with only a $500 to $1000 investment on some of these, you may barely own any shares at all (depending on the stock price).

If you know anything about bonds, you should look into that, I couldn't tell you which because I'm not a big bond fan myself.

You could look into opening up a mutual fund.

You could open up a money market (I think Baird has a money market you can open with as little as $100). The interest rate might not be too great, but no rates are great right now.

Maybe open up a short-term (6 month, 8 month, 12 month) CD.

My suggestion, start an IRA. I think everyone should open up an IRA as soon as they can (the younger the better).

If you have any other questions, feel free to pm me.

Blaine

damasa · #13 12-05-2002, 08:34 PM

Are you looking for something shorter or somewhat of an investment over a longer period of time?

Mutual funds
Money Market (Baird is offering one for only a $100 deposit right now)
IRA (I storngly recommend this to everyone, start one if you haven't alreayd, the sooner the better)
Bonds

I'd try to stay away from investing in stocks for the time being.

If you have more questions just feel free to pm me.

Blaine

shopgirl · #14 12-05-2002, 11:39 PM

Blaine,

I'm not really sure what I'm looking for. I have a savings account and a Roth IRA. I need to be better about contributing to them and I will once I get my feet off the ground. In the meantime I'm trying to explore other options that do not consist of having an extra five grand to spare.

Thanks for the information.
I will pm you if I have any questions.

Tom Earp · #15 12-06-2002, 12:00 AM

Invest hell!

Better off putting it in a can and burying in the yard! Just remeber where it is!

There is no good place to invest money in the open market at the moment! Market, or mutual funds, they are in teh same boat as everyone else!!!

Ah, one thought tho, if you find an armament company as if GW B has his way, we will be in a full blown damn war!

For what you are talking about, it is not really worth thinking about investment at this time! Keep that money back for a rainy day!

Investing is like going to Las Vegas, it is a big gamble!