Question about money

Question

So I just recently received some money from a Trust Fund that was set up for me when my mother passed away several years back. It was about $20,000 that I received.

I put $10,000 in my checking account (just so I would have it there to pay off any bills that were outstanding and such) and $10,000 into my savings account.

What I'm wondering is if anyone out there has any advice as to whether I should put it into a short term CD, let it sit in savings, or maybe invest in some small stocks and see if I can double it short term.

Yes I know this is a gambling site, and I know I can put it towards the upcoming NFL season...that however is not an option at this point. I have my gambling millions already set aside.

A co-worker of mine put $1000 into 5 separate stocks that were currently trading for less than $5 each...but had at one point in their life been up around $20-25...is there anyone out there that has tried something like this? What would be the best way to approach such a thing?

Once again....all opinions will be welcome, and this is a serious question, so lets try and limit the hookers and gambling suggestions.

CMJohnson1 · Answer

So I just recently received some money from a Trust Fund that was set up for me when my mother passed away several years back. It was about $20,000 that I received.

I put $10,000 in my checking account (just so I would have it there to pay off any bills that were outstanding and such) and $10,000 into my savings account.

What I'm wondering is if anyone out there has any advice as to whether I should put it into a short term CD, let it sit in savings, or maybe invest in some small stocks and see if I can double it short term.

Yes I know this is a gambling site, and I know I can put it towards the upcoming NFL season...that however is not an option at this point. I have my gambling millions already set aside.

A co-worker of mine put $1000 into 5 separate stocks that were currently trading for less than $5 each...but had at one point in their life been up around $20-25...is there anyone out there that has tried something like this? What would be the best way to approach such a thing?

Once again....all opinions will be welcome, and this is a serious question, so lets try and limit the hookers and gambling suggestions.

bucknuts · Answer

Get a practice FOREX account and teach yourself to trade..........then open a mini account with 2k and start putting your money to work

mrmyass · Answer

Put it all on the Cowboys vs Niners. No joke bro easy money.

richrogers76 · Answer

Accept my friend request.  I want to sent you a PM.   Thanks

theclaw · Answer

I would consider a ETF or mutual fund that tracks the S&amp;P 500 and the Nasdaq

gamble04 · Answer

I would stick to your cds until you get a good understanding for the type of investing you want to do.  Dont be in any rush!!

KktdocT · Answer

C.Ds are safe.  Go with them.  Don&#x27;t put it on any game.  It&#x27;s your mother&#x27;s!!

umpire14 · Answer

This is money that you can&#x27;t afford to lose. It was given to you for a reason. Put the money into a short term cd 6 months or so for now. It&#x27;s not the return on your money that counts - it&#x27;s the return of your money. Look, I was in the investment business for 28 yrs before I retired and I speak from experience. Take time to learn ... and do it yourself! It&#x27;s your money and no one other that you will care as much about it as you do. Stay away from the risky stuff like small priced stocks, forex, etc. until you have a complete understanding of what you are doing. Then stick a toe into the water. The key to success is risk management. Good luck.

ChuyenTinhDenDo · Answer

best advice

TILTOLOGIC · Answer

Really? Or am I missing the sarcasm in this post?

CMJohnson1 · Answer

Ok, so a slight update in the situation. About 3 weeks ago, the transmission went on my truck. Fun shit I know. Anyway, I have used up a little bit of the original amount of the money.

Between paying off the immediate bills and debts I had, and of course buying a few things I needed...I have about $14k left.

What I was thinking about doing is taking $3,000 and laddering CD's in a 1, 2, and 3 year term. $1,000 in each one.

i_Win_u_Lose · Answer

wished i had 20 k to mess around with..

juelesbenedict · Answer

Late post I know, but you have to realize something CM.  While a CD or other deposit account is secure, you are getting shit interest on the money and meanwhile the dollar is bleeding value like no tommorrow.  If I were you, I would invest in equities, since the market will continue to melt up while the dollar loses value.  If you are more risk averse and want to minimize your exposure choose some blue chip stocks with a dividend and sell some calls against them.  You can achieve a 6-8% return with minimal risk, and you won&#x27;t lose value if the dollar keeps going down.

Question about money

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