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  #1  
Old 12-16-2005, 01:52 AM
DWarrior DWarrior is offline
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Default What to do with a little money?

Hi, I'm a college student and I managed to put together around 20k this semester. 10k will have to go into paying for my school, but I'd like to be able to do something with the remaining 10k.

Unfortunately, I've never had this problem before, so I don't know what to do. Is there a business I can start with 10k, or should I just save it? So far this semester, gambling has been my only source of income, but I'd like to start getting into other things, so I won't mind taking some time to run a vending machine-type business. Any suggestions?

I saw Bankrate.com has 6-month 4.6% APY CDs, I'm planning to purchase those until I can figure out what to do.
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  #2  
Old 12-16-2005, 02:31 AM
The4Aces The4Aces is offline
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Default Re: What to do with a little money?

S&P index fund
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  #3  
Old 12-17-2005, 12:26 AM
DWarrior DWarrior is offline
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Default Re: What to do with a little money?

OK, so I opened a Scottrade account, I guess I'll go with SPY

Anyone else have better suggestions?

Thanks.
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Old 12-17-2005, 04:59 AM
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Default Re: What to do with a little money?

wfmi
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  #5  
Old 12-17-2005, 06:29 PM
buffett buffett is offline
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Default Re: What to do with a little money?

[ QUOTE ]
Anyone else have better suggestions

[/ QUOTE ]
My suggestion is that if you have never had much money before, then you post a question on a poker board about the possibility of starting a vending machine business, and you only get one reply, and that reply tells you to buy SPY, and doesn't give you any reasons why or ask about anything else from your circumstances, and you're actually thinking of doing what he said, then ....
....well, I've forgotten where I was going with that, but I think you get my point.
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  #6  
Old 12-17-2005, 07:24 PM
DWarrior DWarrior is offline
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Default Re: What to do with a little money?

[ QUOTE ]
[ QUOTE ]
Anyone else have better suggestions

[/ QUOTE ]
My suggestion is that if you have never had much money before, then you post a question on a poker board about the possibility of starting a vending machine business, and you only get one reply, and that reply tells you to buy SPY, and doesn't give you any reasons why or ask about anything else from your circumstances, and you're actually thinking of doing what he said, then ....
....well, I've forgotten where I was going with that, but I think you get my point.

[/ QUOTE ]

No, it's just that this is the best advice I have received yet.
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  #7  
Old 12-17-2005, 08:17 PM
buffett buffett is offline
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Default Re: What to do with a little money?

OK, here's a real suggestion: put your money in an FDIC-insured instrument (HSBC, ING, and Emigrant Direct seem to be good choices with high yields), read five or ten books about investing and/or starting a business, sign up for some business & finance courses at your school. Give yourself at least a year of diligent study before you allow yourself to try for more than an FDIC-insured return on your investment.
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Old 12-17-2005, 08:43 PM
Sniper Sniper is offline
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Default Re: What to do with a little money?

[ QUOTE ]
OK, here's a real suggestion: put your money in an FDIC-insured instrument (HSBC, ING, and Emigrant Direct seem to be good choices with high yields), read five or ten books about investing and/or starting a business, sign up for some business & finance courses at your school. Give yourself at least a year of diligent study before you allow yourself to try for more than an FDIC-insured return on your investment.

[/ QUOTE ]

Buf,

In all seriousness, do you think thats the best thing for a college age student with a decent sized bankroll? (who has at least some concept of variance from his poker play)
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  #9  
Old 12-17-2005, 08:45 PM
buffett buffett is offline
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Default Re: What to do with a little money?

yeah, that was my actual real suggestion.
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  #10  
Old 12-17-2005, 08:57 PM
DWarrior DWarrior is offline
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Default Re: What to do with a little money?

That was kind of my idea, I was looking for something safe to put my money in while I figure out what to do with it.

I got a few books on investing that I've slowly been getting through, but I want to dedicate the next semester to school. I'll look into the suggestions you gave this weekend and decide what to do early next week. The one thing I won't start doing is trying to trade with 15k.

Thanks for the suggestions, I'm still open to new ideas.
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