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Posted by HeatherWG 3 years ago In:

wall street, money, economy, crisis, meltdown, financal, walletpop on the economy

HeatherWG Asked About 'The Financial Meltdown - AOL Money & Finance'

Where's the best place for me to put $1000 right now?

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8 Answers

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JennieLP Answered:

It depends on how you plan to use the money. If you can afford to put it in a retirement account and not touch it until you stop work, this is a great use of $1,000. Even if you've already maxed out your tax-advantaged IRA or 401(k), you may able to put the $1,000 in a Roth IRA. Money in these accounts grow absolutely tax free. Or put it in an 529 account for a young child who someday can use the money for college. That's another way to keep your money growing without having to use some of it to pay taxes.

If you think you might need the $1,000 to pay bills or cover an emergency in the next year or two, put the money in a savings account where it won't be locked up and where you'll earn a decent interest rate. Emigrant Direct (http://www.emigrantdirect.com) is a possibility. It's paying 3.75 on the first dollar you deposit and it's FDIC insured.

If you want the money available, but you think you're not going to need it right away, invest in an index fund. Vanguard (http://www.vanguard.com) charges low fees and has been predictably reliable over the years. Stock prices are low now. When they rise -- and they almost certainly will -- you'll make money.

Posted 3 years ago
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xanadar Answered:

I would look to invest in commodities. These have real world value and in realistic terms, their value never fluctuates. The apparent rise and fall of commodities prices is actually an illusion. The value of commodities never changes throughout history. The devaluation in currencey only makes it appear so.

check out these links: http://www.youtube.com/watch?v=z6NfXk7Bvc8

http://www.youtube.com/watch?v=_Rr_Gqn-3Wc

Hope this helps

Posted 3 years ago
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Brad Answered:

you should put your money into a secured and fixed annuity iin which the company (such as Bankers Life & Casualty) is insured dollar for dollar and not FDIC for only $100,000 such as most banks.

Posted 3 years ago
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Josh Smith Answered:

I'll second JennieLP in needing to know more about your financial situation but in my case I would look at adding it to an emergency fund earning a decent rate, such as HSBC or look at a 6 month CD, many of which have decent rates.

Posted 3 years ago
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bcm867 Answered:

In gold - or under your mattress.

Posted 3 years ago

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bcm867 Answered:

In gold - or under your mattress.

Posted 3 years ago

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emilie Answered:

If you have children you should invest into a life insurance, that someday when you leave your children and families are taken care of.Also in the meantime life insurance builds up cash value that you can use later in life for whatever reasons. Email me at eignacio@ft.newyorklife.com