IRA

Certificate of Deposit

 

Typically what you would consider as a long term (IRA) vs. Short Term (CD). Both won't allow you to withdrawal w/o a penalty. Some exceptions do apply. With an IRA you can take out for Major Medical Expenses, 1st Time Home Purchase, maybe something else, I can't remember. With a CD I don't think there are any exceptions. You put it in and wait.

You should plan on both simply being there without taking anything out.

 

And there is a Traditional IRA and Roth IRA to look into as well.

The best route would be to go to Edward Jones or a similiar firm and say, I've got some money, what should I do. They will be very helpful and there fees aren't outrageous at least at Edward Jones if I remember correctly.

 

definately in stacks, not enough for real estate, if you buy any type of descent mutual fund and not touch it for a long time you will get a big return, the roth isnt a bad idea but if you ever want to get it out you will have to pay a penalty. I think stack are the way to go for you cause you can get your money back in a few clicks of a button if you needed and would have to pay taxes until tax return time on the following year, but if you used the money to buy a house or business then it is tax free.

 

i think i wanna put it in some stocks, i just dont know anything about them.

 

id bank it and save it

 

see the problem with puttin it in my savings account is......I WILL SPEND IT... and im looking to get more in the long run than a crappy savings account.

 

u loose money to inflation if u keep it in the bank without spendin' it.

Put it into some agressive mutual funds (that way u have a diversified portfolio). most mutual funds have minimums, but there should be plenty that take 2 Gs.

Set up Ameritrade account (in my opinion best online broker) and go for it.

Check out Mad Money on CNBC with Cramer to see if you like stock market stuff (real entertaining show, tho don't take his advice to heart).

Some funds to check out-

ICENX Energy
CGMFX Focus
PTWZX Jennison 20 20

and one thats a little bit more calm
FBALX

and don't be discrouaged if all of these are losing money right now, cuz we just got a new Federal Reserve chairman, and there is always stock market volatility thru this phase.

wheeeeeeewww done. PM me if u have any questions.

 

If you are looking for max. short term gains = currency (however, very high risk)
Medium risk/medium gains = stocks
Low risk/small incremental gains = IRA, CD, etc etc

Just my 2cents.

 

Start an IRA. I started one when i was 20, now it has almost trippled, i put 50 a month into it as well.