How should I invest $1000

robby · #1 (**permalink**) 11-16-2004, 05:34 PM

I have $1000 to invest and I was wondering what everyone here would do with it. This is extra money so anything within reason I would be willing to consider. Where would you invest the money?

terry1156 · #2 (**permalink**) 11-17-2004, 06:29 AM

It depends a lot on how much risk you want to take with it. If you are looking for a fairly safe place with good growth potential, then I would say a stock index fund. If you want to play a little, then do some research on your own and buy some individual stocks.

If you have a hobby that you know about well, you may want to invest in some of the upper end merchandise of that hobby.

Tree0164 · #3 (**permalink**) 11-18-2004, 04:12 AM

Do you have any credit card debt? If yes, put it towards that

Do you have an emergency fund? If no, put it towards that

If you got both of those squared away. Maybe invest it in a Roth IRA for retirement. Like Terry said it all depends on where you want to invest it. Most investment firms require a deposit of atleast $2500 these days. Check with Fidelity investments or Charles Scwab they may not require the $2500 deposit.

Good luck!