20, in school, $1500

[toby]

This might seem like small change for you high rollers, but what would you recommend doing with about $1500 as a college student (not tuition money, it's extra).

Is that enough think about investing since a 5% return is just a measly $75.

Thanks,

[Michael Davis]

Use it as a poker bankroll. Much higher than 5% returns if you read these boards for awhile.

-Michael

[laserboy]

If you have the mentality for it, take the time to learn about stock valuation and long term investing while you are young. It is one of the easiest ways to build long term wealth and could mean millions of dollars over the course of your lifetime.

Whatever investment you decide to go with, I would open a Roth IRA. The gains in a Roth IRA account are tax-free which makes a considerable difference over time.

[Senor Choppy]

[ QUOTE ]
Whatever investment you decide to go with, I would open a Roth IRA.

[/ QUOTE ]

Unless you care about spending the money while you can still enjoy it.

[laserboy]

Contributions to Roth IRA's can be withdrawn penalty-free, although gains cannot.

[Carl_William]

U said: "Whatever investment you decide to go with, I would open a Roth IRA. The gains in a Roth IRA account are tax-free which makes a considerable difference over time"

My comment is: Don't you have to have a job to start an IRA. I guess a part time job might be OK. He could declare being a poker pro as a job -- would that be OK???

[Nemesis]

I didn't have a job when i dropped 2k into my ROTH IRA... it promptly tanked because of 9/11 way to go for investing =)

[laserboy]

My understanding is that you do need to have income in order to open a Roth. Poker winnings do qualify as earnings. You ARE declaring your poker winnings, right? [img]/images/graemlins/laugh.gif[/img]

[GeorgeF]

Consider investing in yourself.

Buy a couple of suits, go to a decent barber and take a dale carnegie course. Although open to the public The Dale Carnegie course is generally attended by pudgy middle aged mid level manager types. The kind of people who make hiring decisions, ie the kind worth knowing (unlike the bums you hang out with). It is very likely that you will be the only one in the room looking for entry level work amoungst people looking to hire entry level go getter types (like yourself?). Trust me when the boss man walks into HR with a resume it goes directly GO and collects $200. If you do this remember to look sharp in business dress.

http://www.dalecarnegie.com/

Alternatively go to your library travel section and look through lonely planet travel guides. See about learning a language comparitively few Americans do like Chineese Japaneese Arabic Mongolian. I suggest you spend 6 months in the US with language software and work/save as much as you can. Then see if you can do a year of your college study in that country. You may even be able to find work in that country if you are slick. $1500 is a bit lite for this plan.

Learning to play poker is a decent idea. Assuming you can do it you will learn skills they do not teach in school. You will also loose your $1500+. I suggest you reduce your risk level to 0 and become a poker dealer or other poker room employee. A poker dealer learns the most important poker skill of all, paying close attention to the game without playing any hands. Working behind the scenes of a poker room will teach you event organizing skills that will look really good on a resume.

You might try to buy $1500 of inventory and start a business. I have no idea what kind of business.

You could just leave the $1500 in the bank and leave your options open.

On the other hand you will only be 20 once, at 40 it would cost me about $15,000 to have as much fun as you can with $1500. Sad but true. Just blow the money on chicks.

[astroglide]

what would you recommend doing with about $1500

a hot girl, while you are under the influence. poker's a good idea too. i think anybody that suggests a roth ira or similar long-term investment is soundly insane [img]/images/graemlins/frown.gif[/img]