And do not give me crap responses. I am critical here. I have 10 dollars in my bank comment to gangling as well as wish to put it to creation the profit. Any millionare moguls out there have advice?
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{ 6 comments }
How about set your kids up with a lemonade stand and split the profits with them? It’s been in the 90’s where I live for the last three days. Could be a great rate of return.
When you accumulate a little more, is there some business you’d want to start on the side? Something you could do part-time to earn more money? The profit from above could be the nest egg to get you started.
Guess what I’m saying is invest in you.
With only $10 to invest, the safest place for it to be, is to remain in your bank account. There is no place that I am aware of that you can invest such a small amount (other than a bank). It is simply not worth anyone’s time or effort.
How about a lemonade stand? Seriously, there are huge profit margins, albeit on a small scale, in a lemonade stand.
Ok, seriously, with only $10 to your name, you should solely be thinking about saving a portion of your income to accumulate an emergency fund of at least six months living expenses. Take this money, leave it in your FDIC insured bank account (which will earn little or no interest income) and leave it there for immediate access… in case of an emergency. Once that’s accomplished, then, assuming you are fairly young and can concentrate on long-term capital appreciation by taking greater risk, you can put an incremental funds into a very low load index fund like Charles Schwab’s S&P 500 index fund (ticker SWPIX). Good luck.
Purchase a few gallons of gas. Use it in an emergency or in 5 years when prices double.
Feeling lucky? If so grab that $10.00, run to your local 7/11 and buy 10 Mega Millions Lottery Tickets, the return on those are astronomical, well that’s if you win of course, and remember scared money does’nt make money!
Best way ot invest that $10 – buy a good book to learn as much as you can about trading/investing.
http://www.tradersdaytrading.com/trading-books.html
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