If you had $2500 to invest for 30 days, what would you do? Assume a medium to high level of risk tolerance and no credit card debt racking up interest expense!
This was a legit question. I've got a pretty sizeable chunk of money left over from my annual bonus, which I will need to pay some annual bills that are due in 45 days time. I hate the thought of leaving the money sitting in my checking account for the bank to profit from. $2500 is an esitmate that I am comfortable going high-risk on.
So what did I do? Well, per B, I paid my mortgage early. That cuts off a full month's interest for the 30 days. The remainder I stuck into my Roth IRA. As I've already paid the taxes on it, there will be no penalty for withdrawing it after 30 days - as long as I leave the earnings in the IRA. (yes, I'm sure about this. i do taxes for a living.) I hadn't even considered this until some of you suggested I speak with a financial advisor - at which point I realized "Dugh, I already have, AND I have a perfect investment avenue already set up." I just needed to think outside the box on this one. Thanks!
Don't do it. You can't make any money without take a bunch of risk. You might as well go to a casino and gamble with it.
If you have to give back the $2500, then I don't see the point of having it for 30 days anyway, unless this is truly hypothetical, and doesn't matter in real life...
Dawn
I wouldn't.
If I only had 30 days... Then I NEED that money.
Only invest money you don't need.
That its completely okay if its gone forever.
If you are not already in the market and do not fully understand the ins and outs of trading as well as the fees, PLEASE do not do it.
Why is is just 30 days? Your time frame is not good for the market, CD's etc.
A lot of people get into Day Trading and if you are not 100% spot on with your knowledge of the market, fees and if you blink your eye... you lose everything. VERY risky. Don't risk any money you can't afford to just throw out the window.
If this a JFF question? If you have the money for 30 days only, talk to your investment counselor for guidance and if you don't have one, talk to your banker. I do strongly suggest you get an investment counselor you trust. Are you expected to give the $2500 back and you are hoping to keep any profits? I don't understand the time limit or the amount of money.
$2500 is not much money when it comes to making an investment, especially in the market when you calculate all the fees of the in/out trading.
Good luck.
The only way you can make bank is day trading and you take your eye off of that for a second and you lose big time.
In the current market there is nothing that is going to be worth the fees.
$2500 is a mortgage payment.
I'd pay my mortgage.
How does one get $2500 to invest for 30 days? Is this a JFF question?
Can't imagine a situation that you only have the money for 30 days... That is not long enough to invest and get any real return without fees. Even a CD is only going to get you $4 or $5. If you only have the money for 30 days, it sounds like you don't really have the money to invest.
Too risky, I wouldn't even know where to begin. Dh and I are 45 and 50, past the point in life for high risk investing. Good luck
fun!
i'd go for an awesome trip!
wait, you gotta give it back after 30 days?
why bother?
there's nothing that will give you a return in that amount of time that would remotely be worth the risk.
khairete
S.
Stick it in my savings account.
30 days isn't long enough to invest in anything legitimate.
