8 Responses to “I have $1,000 dollars. What would be the best way to invest it to turn out profit quickly?”

1. Jeff J on January 30th, 2009 1:59 am

   you can earn high interest rates by loaning out money on prosper . there is risk, but you can get great returns if you are careful, I am getting around 15% on my money and have had no lenders default on their loans.

   Good luck

2. storeonwheels on January 31st, 2009 7:45 am

   open up a money market account or invest it in a certificate of deposit

3. nminto67 on February 1st, 2009 3:00 am

   Give it to me… I will double it for you in 3minutes… Honestly, I will…

4. Genny on February 2nd, 2009 11:55 pm

   Retirement saving fund

5. amysgetaways on February 3rd, 2009 11:15 am

   You could look at what I do. I own an on line travel agency with a really great company. It is publicly traded. It has the best commissions in the industry, awesome tax benefits, and I love the travel agent credentials. You have more than enough to invest and become your own business owner. The company has excellent mentoring, training, and support. It is not hard work, just send people to your website to book travel at very competitive prices (like using orbitz, expedia, travelocity…). I advertise on my van, had out flyers and business cards, post on bulletins, and good old word of mouth.

6. singaporetayyc on February 5th, 2009 5:42 am

   i have a super good opportunity to be a millionaire for you

   email me =)

7. Terry on February 7th, 2009 5:11 pm

   There really are no quick ways to get rich, unless you have a great singing voice, can play ball professionally, or are an excellent actor.

   Most people make money by investing early in their lives, then leaving the investment in place for a long period of time. Regular investing over the long haul (20 plus years) is how most people can and do end up millionaires.

   With $1000 as your starting amount, you are somewhat limited. There are two options I’d suggest. The easiest and safest would be to open a ROTH IRA at Vanguard (http://www.vanguard.com) and then put the $1000 in to their Star mutual fund. This is their starter fund. It is actually a ‘fund of funds’ and as such spreads your risk of losing money. It has good performance (currently returning about 15%) and it is a no-load mutual fund (you don’t have to pay to buy the shares in the fund). The management fees are low, and you won’t have to pay a maintenance fee with Vanguard if you sign up for email delivery of all documents (otherwise, they’ll charge you $20 a year for mailing statements etc).

   Go to their website, call their 800 number and talk with a representative.

8. BigBen on February 9th, 2009 3:13 am

   if you have your own business, better reinvest that money first. but if you don’t, better put it in CD or top performing mutual funds. in the same time, accumulate more wealth and knowledge, and invest in stock market when you have what it takes.

   Step-by-Step Stock Investing for Beginners

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