General Question

elman25's avatar

Best 1000 dollar investment?

Asked by elman25 (159points) May 2nd, 2008 from iPhone
Observing members: 0 Composing members: 0

6 Answers

jrpowell's avatar

Do you want to flesh this out a little more? Do you want to start a small business? Buy securities?

My advice would be to pay off any debt you have. The interest on your credit cards or auto loans will probably exceed what you could hope to make on any investment that small. And paying down debt is reliable. Any investment for the most part could result in no gains or very minimal gains. If you don’t have any debt that is a different situation.

Breefield's avatar

If I had 1000 dollars to invest I’d buy survival supplies such as water, food, and a something to heat such things with. I’m just one to be prepared, and with the way things are looking right now, being prepared can’t be that terrible an idea…maybe I’m just paranoid.

LanceVance's avatar

Um, I’d say the best investment would be a computer. Imagine that. Buy a $1000 computer, make $1.5 billion like Zuckerberg. :)

wildflower's avatar

Invest in experience and memory: go traveling.

boffin's avatar

J.P. is correct….Pay off something (debt)
Or add this $ as a Principal only payment on the house.
Start or add the $ to your 401k, Roth IRA etc.

Aislin's avatar

I agree. Pay off debt, especially credit cards. In the current economic environment, any other answer to this question might involve more than a cursory look at your portfolio to make the best decision on a small investment. You can always find a way to invest in yourself… or, hide it somewhere in the house and “foget aboud it.”

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