Results 1 to 18 of 18

Thread: $5,000 to Invest... Any Suggestions????

  1. #1
    Senior Member TopHeavyCutie's Avatar
    Joined
    Feb 2007
    Location
    Las Vegas, NV
    Posts
    123
    Thanks
    5
    Thanked 25 Times in 12 Posts

    Default $5,000 to Invest... Any Suggestions????

    Hi Gals & Guys,


    I have a little over $7,000 in my savings account with WaMu (Chase), and would like to invest $5,000 of that into sumthing that will make my 5k grow and work for me, and keep the other 2k liquid for emergency purposes.

    I have ZERO...Yes that Right....ZERO debts, No CC Debt.....VERY small Bills ( i.e Lights,Power, Food, Make-up Etc.) My Boobs bought and paid for....Single as can be...No Man or Girl in my life....No Kids.....You get the idea.


    Anyone have any suggestions on how to PROPPERLY make my $5,000 work for me????


    Thank You.


    XOXO
    Future Captain for United Parcel Service's Ultra Hot Aviation Fleet




    www.Myspace.com/VegasBarbi (Professional Page)
    www.YouTube.com/7674Princess
    www.Myspace.com/17674Pricess (Personal page)

  2. #2
    God/dess hockeybobby's Avatar
    Joined
    Nov 2007
    Location
    Canada
    Posts
    4,969
    Thanks
    1,811
    Thanked 597 Times in 382 Posts
    Blog Entries
    1

    Default Re: $5,000 to Invest... Any Suggestions????

    Here's something I'm intrigued with at the moment: http://www.chartwellreit.ca/

    Chartwell Seniors Housing REIT (real estate investment trust). CSH.UN (toronto stock exchange)

    Shares today traded for $3.89 at the close (1000 shares/units = $3890.00). It pays a 19% distribution, a little over 6 cents per unit, per month...or 74 cents a year. For a thousand shares then, you'll receive a deposit of $60 every month in your trading account.

    Also, they have a distribution re-investment plan that allows you to invest the monthly distributions into new units without commission automatically, and receive a 3% bonus as well:
    http://www.snl.com/Irweblinkx/drip.aspx?iid=4100072

    Assuming you hold these units for 5 years and there is no cut in the distributions (always a risk for these instruments), a 20% yield means you will now own the units for free (20% X 5 = free), and be receiving $60 a month income.

  3. #3
    God/dess
    Joined
    Jan 2004
    Location
    Your imagination
    Posts
    2,875
    Thanks
    19
    Thanked 174 Times in 119 Posts

    Default Re: $5,000 to Invest... Any Suggestions????

    slap it in CDs or an interest-bearing account. anything else is too volatile for the next 18 or so months. at least keeping it in CDs is pretty liquid and you get 3-5%.

  4. #4
    Featured Member
    Joined
    Jun 2007
    Posts
    961
    Thanks
    4
    Thanked 17 Times in 17 Posts

    Default Re: $5,000 to Invest... Any Suggestions????

    How long don't you need the money for? WaMu offers CDs.

    I would stay away from 'specialty' type investing (REITs) until you learn about them, and even then, I have never gone with a REIT, I prefer REOCs.

    http://www.investopedia.com/terms/r/reit.asp

    http://www.investopedia.com/terms/r/reoc.asp

    The REIT linked above was trading at almost 3x higher in January.

    As I said, invest in a CD, learn a little about investing, see a financial adviser, then when you can cash out, go from there.
    Quote Originally Posted by The Snark View Post
    But then I suppose the sort of people who write this kind of crap generally don't allow their opinions to be tainted by things like "facts" and "reality".
    Distortion becomes somehow pure in its wildness
    The note that began all can also destroy

  5. #5
    God/dess hockeybobby's Avatar
    Joined
    Nov 2007
    Location
    Canada
    Posts
    4,969
    Thanks
    1,811
    Thanked 597 Times in 382 Posts
    Blog Entries
    1

    Default Re: $5,000 to Invest... Any Suggestions????

    ^^^It's tough to beat a high interest savings account for security.

    Also...you could put the 5K towards a down payment on a house/condo?

  6. #6
    Featured Member
    Joined
    Jun 2007
    Posts
    961
    Thanks
    4
    Thanked 17 Times in 17 Posts

    Default Re: $5,000 to Invest... Any Suggestions????

    Quote Originally Posted by The Snark View Post
    But then I suppose the sort of people who write this kind of crap generally don't allow their opinions to be tainted by things like "facts" and "reality".
    Distortion becomes somehow pure in its wildness
    The note that began all can also destroy

  7. #7
    Banned Melonie's Avatar
    Joined
    Jul 2002
    Location
    way south of the border
    Posts
    25,932
    Thanks
    612
    Thanked 10,563 Times in 4,646 Posts
    Blog Entries
    3
    My Mood
    Cynical

    Default Re: $5,000 to Invest... Any Suggestions????

    6 ounces of gold ?

  8. #8
    Senior Member TopHeavyCutie's Avatar
    Joined
    Feb 2007
    Location
    Las Vegas, NV
    Posts
    123
    Thanks
    5
    Thanked 25 Times in 12 Posts

    Default Re: $5,000 to Invest... Any Suggestions????

    Hmmm....What could I do with 6 onces of gold???
    Future Captain for United Parcel Service's Ultra Hot Aviation Fleet




    www.Myspace.com/VegasBarbi (Professional Page)
    www.YouTube.com/7674Princess
    www.Myspace.com/17674Pricess (Personal page)

  9. #9
    God/dess
    Joined
    Jan 2004
    Location
    Your imagination
    Posts
    2,875
    Thanks
    19
    Thanked 174 Times in 119 Posts

    Default Re: $5,000 to Invest... Any Suggestions????

    if you don't know, get a CD or dump the money in an ING online savings account instead.

  10. #10
    Senior Member Butrcup98's Avatar
    Joined
    Sep 2008
    Posts
    148
    Thanks
    0
    Thanked 3 Times in 3 Posts

    Default Re: $5,000 to Invest... Any Suggestions????

    How long can you leave the money alone? If you think that you'll need it in less than 10 years, then a cd is probably your best bet. Capital One is offering 5.10% for a 5 year cd that you open online.

    If you plan to leave that money alone for 10-20 years, then invest in a mutual fund. Most of those have long term returns of around 10%.

  11. #11
    Banned Melonie's Avatar
    Joined
    Jul 2002
    Location
    way south of the border
    Posts
    25,932
    Thanks
    612
    Thanked 10,563 Times in 4,646 Posts
    Blog Entries
    3
    My Mood
    Cynical

    Default Re: $5,000 to Invest... Any Suggestions????

    Hmmm....What could I do with 6 onces of gold???
    potentially turn US$5000 into US$10,000 in 2009 ?

  12. #12
    Featured Member Winged Dinghy's Avatar
    Joined
    Sep 2008
    Location
    The dirty south
    Posts
    1,381
    Thanks
    1,942
    Thanked 1,992 Times in 605 Posts
    Blog Entries
    17
    My Mood
    Fine

    Default Re: $5,000 to Invest... Any Suggestions????

    I'm really interested in learning more about investing in gold. I'm in an almost identical boat as the OP, finance-wise. Melonie, do you have any info or links I can peruse to learn more about buying gold? I did a search for threads but turned up very little.

  13. #13
    God/dess Zofia's Avatar
    Joined
    Apr 2002
    Location
    Durham, North Carolina
    Posts
    2,417
    Thanks
    2,964
    Thanked 2,370 Times in 934 Posts

    Default Re: $5,000 to Invest... Any Suggestions????

    I do not normally recommend mutual funds, but, a good S&P indexed fund might be a good place to start. Another good potential investment is some local business that is traded on the NYSE. A local that you know well. In Vegas, look at the casinos. Pick one or two with good business plans and low P/E ratios and buy a few shares. Remember, the only rule of investing, buy low, sell high. Right now, stocks are low.

    HTH
    Z

  14. #14
    Featured Member vivianbear's Avatar
    Joined
    Dec 2007
    Location
    Southern CA
    Posts
    1,507
    Thanks
    555
    Thanked 2,238 Times in 572 Posts

    Default Re: $5,000 to Invest... Any Suggestions????

    $7000 isn't a whole lot of money. Why don't you just hold on to it and keep putting cash in your account? Make sure you have an 8-month emergency fund and a chunk of scratch in checking for petty cash and then look forward to investing.
    "SS=stripper shit, in the same spectrum as CS=customer shit, which is within the spectrum of SaS=sales shit, which is all contained in the universe of BS=bullshit." -- Jay Zeno (mod)

    "Show me a hot chick and I'll show you someone who's tired of fucking her."






  15. #15
    Banned Melonie's Avatar
    Joined
    Jul 2002
    Location
    way south of the border
    Posts
    25,932
    Thanks
    612
    Thanked 10,563 Times in 4,646 Posts
    Blog Entries
    3
    My Mood
    Cynical

    Default Re: $5,000 to Invest... Any Suggestions????

    well, in regard to gold price cycle theory, you might read ...

  16. #16
    God/dess threlayer's Avatar
    Joined
    Aug 2003
    Location
    Syracuse
    Posts
    5,921
    Thanks
    369
    Thanked 419 Times in 290 Posts
    My Mood
    Fine

    Default Re: $5,000 to Invest... Any Suggestions????

    Gold, only if you believe in Mel's predictions. You'll likely pay extra for purchasing, including sales tax; they you have to store it in like a safe deposit box. Further, it doesn't earn interest. Then when you go to sell it someday, you'll have to pay a seller's commission.

    So putting it away in a safe place (forget about almost any interest for now) and adding to it. That isn't a very large amount, so if you have a big emergency and need to get at it right away, then you'll have it instead of having to take a loan. Do you need a place to put it so you aren't tempted to spend it?
    I loved going to strip clubs; I actually made some friends there. Now things are different for the clubs and for me. As a result I am not as happy.

    Customers are not entitled to grope, disrespect, or rob strippers. This is their job, not their hobby, and they all need income. Clubs are not just some erotic show for guys to view while drinking.

    NOTE: anything I post here, outside of a direct quote, is my opinion only, which I am entitled to. Take it for what you estimate it is worth.

  17. #17
    Banned Melonie's Avatar
    Joined
    Jul 2002
    Location
    way south of the border
    Posts
    25,932
    Thanks
    612
    Thanked 10,563 Times in 4,646 Posts
    Blog Entries
    3
    My Mood
    Cynical

    Default Re: $5,000 to Invest... Any Suggestions????

    ^^^ just to be technically correct, NO sales tax applies on bullion bars or bullion coins ... only to 'collectible' coins (which is the reason that I buy one ounce bars !). And yes there is a 'spread' on the purchase price and sale price ... which right now is running about $20 an ounce ... which is a bit higher than a discount stockbroker's commission but about the same as a full service stockbroker's commission. Most importantly of course is that if you had placed the order for gold bars when I first posted (the 11th), you would have already gained $37 an ounce in value ... more than enough to cover the 'spread'.

    As far as tax treatment, gold bars and bullion coins (like Krugerrands) are treated as a commodity transaction. As such standard capital gains tax rates apply i.e. 15% if you hold them for a year.

    In regard to gold versus US Treasuries, with today's lowering of the FED funds rate to essentially zero, short term bond investors are now in a position of 'paying the gov't' to hold their dollars !!! This essentially removes the often used criticism of gold ... that it doesn't pay interest ... because short term US Treasuries no longer pay interest either !!!

    As to the option of 'high interest' CD's from ING, GMAC and other lenders that are currently offering interest rates that are well above 'market', keep in mind that both ING and GMAC have a significant risk of going belly-up in the absence of a bailout by the Dutch / US gov't. Put very bluntly, these 'troubled' financial institutions are forced to pay 'above market' interest rates to attract 'investor capital' for a REASON !!! If a problem were to happen, such that getting your money back falls to waiting on FDIC insurance payouts, these CD's won't be paying you any interest either. And even if all goes well, the CD interest payments are taxed as ordinary income at a typical rate of 25-30% for a full time dancer.

  18. #18
    God/dess threlayer's Avatar
    Joined
    Aug 2003
    Location
    Syracuse
    Posts
    5,921
    Thanks
    369
    Thanked 419 Times in 290 Posts
    My Mood
    Fine

    Default Re: $5,000 to Invest... Any Suggestions????

    I suppose one could buy gold Krugerrands using a 'valid' New Hampshire addess with no sales tax. Gold futures for Feb 2009 were today $842. Gold prices have been quite variable lately from over 1000 down to below 800 (in about a year). You are just banking on everything going to hell in mid-2009. By itself, with no regard for its history, gold is a kind of silly buy; but with its long history you have at least some idea what will happen.

    Current price is $868.
    Last edited by threlayer; 12-17-2008 at 10:46 AM. Reason: add current price
    I loved going to strip clubs; I actually made some friends there. Now things are different for the clubs and for me. As a result I am not as happy.

    Customers are not entitled to grope, disrespect, or rob strippers. This is their job, not their hobby, and they all need income. Clubs are not just some erotic show for guys to view while drinking.

    NOTE: anything I post here, outside of a direct quote, is my opinion only, which I am entitled to. Take it for what you estimate it is worth.

Similar Threads

  1. CNBC stock contest Win $1,000,000.00
    By AmyLynne in forum Dollar Den
    Replies: 1
    Last Post: 08-30-2011, 02:59 PM
  2. Replies: 2
    Last Post: 08-17-2010, 09:35 PM
  3. Replies: 26
    Last Post: 03-07-2010, 05:04 PM
  4. How would you invest $11,000?
    By ivy44 in forum Dollar Den
    Replies: 59
    Last Post: 01-03-2008, 01:10 PM
  5. Replies: 31
    Last Post: 08-11-2006, 10:27 AM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •