How Would You Invest $10,000.00? - AfroChat - African American

Cheese Biscuit · April 9th, 2005, 02:51 AM

If you had $10,000.00 right now, how would you spend it?

Mra75 · April 24th, 2005, 02:51 PM

I'm surprised this topic didn't get any responses.

I would continue to fund my education. I'm great with money so of course I've already started to invest since I was 18.

Cheese Biscuit · April 24th, 2005, 07:40 PM

MRA75, I also find it hard to believe that no one bothered to respond to this topic. It's a safe topic and it's not the most boring topic that I've seen here. This question has been patiently awaiting a response since April 9th and today is April 24th.

I appreciate the time that you took to respond. You're great and your response is also great. What type of investments are we talking? Wish I had started when I was 18. Better late than never. Have you given any thought to teaching others how to budget, save and or invest?

I'm going to send you a private message before this day is over.

charliekilothree · April 24th, 2005, 07:51 PM

Since I'm not investment savvy, I don't really know how I'd invest $10K. I would probably place it into some type of retirement account.

Cheese Biscuit · April 25th, 2005, 01:06 AM

CK3, would you consider investing in real estate (for rental income)?

elmb · April 25th, 2005, 01:24 AM

This is a wonderful topic b/c most of us(people of color) instaneously think of what I'm going of buy!!! This is by far alot of money, you can't really do much in real estate with it, at least not in New York City. I would put in in life insurance (term), so that you can get money off of it after a certain amount of years.

Cheese Biscuit · April 25th, 2005, 02:17 AM

Elmb, that's a good answer. Either that or an IRA that will hopefully suppliment retirement. I know several Seasoned Citizens that are currently working because they really have no other choice. They need the extra income.

I know someone that actually has that much money right now. Too bad it isn't me. If I had that kind of money, I would probably put it in an IRA so that I could retire in about 5-10 years and actually enjoy my retirement years. I do have at least two different accounts set up that will help during my retirement years. I know people that haven't set up anything and they're already in their 40's. That's bad news.

ebonysista · April 25th, 2005, 02:57 AM

I would definitely invest in real estate. I am currently working on getting my real estate license and there is so many ways to invest in real estate. I was thinking about rental property or buying fixer-uppers or forclosures. I would also like to invest in REITS (Real Estate Investment Trusts). I have been looking into those as well. These are listed similar to stocks, but deal in investing in various kinds of commercial properties. I would also put some into an IRA account to help with my retirement.

charliekilothree · April 25th, 2005, 07:16 AM

Quote:

Originally Posted by Cheese Biscuit

CK3, would you consider investing in real estate (for rental income)?

No, I would not. I don't think it would do much for rhat purpose. If it was $100k that would be a diferrent story.

Cheese Biscuit · April 25th, 2005, 03:32 PM

Ebonysista, sounds like a plan, a great plan.