What should I do with the 10k I just got for college...

[GeorgiaAvenger]

How about land?

 

[eric_cartman]

i think you should buy two or three ounces of gold and maybe some silver (depending how much you have). and then convert the rest to some foreign currencies. maybe buy government bonds from countries like Australia, New Zealand, Singapore, Norway, etc.

or agricultural commodities could be a good idea also. Jim Rogers seems to think that's a good idea.... so buying something like RJA might be something to consider.

 

[eric_cartman]

This is conventional wisdom - in this case it is wrong. Sorry dude.

If you think the USD is doomed one way or another, then purchasing foreign currencies and their bonds is folly - THEY ARE ALL TIED TO THE USD.

if the USD is doomed... that's why you have some gold and silver. however, what if the price of gold and silver falls? if we have a big deflationary collapse, then having some foreign currencies could be a good idea. telling someone to put 100% into gold and silver i don't think is always appropriate. having 30% to 50% in PMs is more than enough IMO... and you should diversify with other stuff. gold has been going up for like 11 years in a row... it's not inconceivable that gold could have a few losing years... and if that's the case, you can use your cash to buy cheap assets if the opportunity presents itself.

 

[Reason]

Hmmmmm....

 

[paulpwns]

Max out a Roth IRA. Follow Clark Howard's advice
http://www.clarkhoward.com/

 

[SilverDollarStandard]

What you have now is not money, it is credit; a promise to pay money, an IOU, otherwise known as a debt instrument. As they have already defaulted on their liabilities, at current market rates your $10K in Federal Reserve member bank credit is worth less than 5% of its face value or only around $423 in cold hard cash i.e. silver specie since a dollar is a coin containing 0.773 troy ounces of pure silver whether Federal Reserve Chairmen Ben Bernanke knows it or not. Of course there is no guarantee that your $10k in bank credit will be continue to be worth $423 in real value and literally no one thinks it will ever be worth its face value ever again while more than a few have pointed to the plausibility of a scenario in which it becomes worthless. Remember that there is significant counter party risk that bank deposits with Federal Reserve member banks will decrease in real value substantially especially considering the Federal Reserve's need to create more credit to purchase Treasury bonds to finance the massive ever increasing annual Federal deficits. I recommend converting your bank credit into money. Cold hard cash is liquid, durable, divisible, fungible, ductile, malleable, rare, portable, and it will never be worthless. $423 is a good savings to start, but of course much more would be necessary to constitute a nest egg of savings sufficient in size to afford a retirement when you are no longer able to work so I say continue stack that much every year if you can.

 

[Len Larson]

All the good ideas (gold and hookers LOL!) have already been mentioned, so I'll just throw this one out there.
How about a dividend paying whole life insurance policy?
Here's a link: Bank on Yourself vs. Roth IRA

 

[Elwar]

Bitcoins

http://www.mtgox.com

Bitcoins are currently being produced at an inflationary rate of 25% per year and have gone up several hundred percent in the past year. At the end of 2012 the inflation rate will drop to 12.5% which will leave Bitcoins price rising from there on as more people start using Bitcoins, outpacing the inflation rate.

The price is currently around $6/Bitcoin...I see the price at least $20-$30 by the end of the year. And the potential is there that it could be valued in the 100s if it gained enough popularity.

Bitcoin will never be worth $0 as it cannot be destroyed.

The value is currently on the low end. It fluctuates so perhaps wait for it to drop around $4 to buy.

 

[Zippyjuan]

Unless I missed it, we still have not determined if this is a grant or a loan. If it is a loan and you don't need the money I would turn it down unless you can find a guaranteed return higher than the interest rate on the loan (and there are few guarantees). Remember to include all costs of the investment too- purchasing and reselling it plus any taxes on returns.

Borrowing to invest is not a good idea.

 

[Krugerrand]

2,500 of these:

 

[onlyrp]

2,500 of these:

*thumbs up*

 

[truthsaga]

europac.net

 

[Jordan]

Good thread. Full of responses on what to do with $10,000 from people who don't have $10,000.

 

[Edward]

Good thread. Full of responses on what to do with $10,000 from people who don't have $10,000.

You don't need $10,000 to do what I suggested... if you're me.

 

[Steven Douglas]

Good thread. Full of responses on what to do with $10,000 from people who don't have $10,000.

What, you don't think I have a chest freezer full of delicious and soon-to-be-rare Twinkies, Cupcakes, Ho-Ho's and Ding Dongs? Pshaw.

 

[r3volution]

if you have any outstanding collage loans pay those off first . if not $2500 to paul and some too PAC ?

 

[LibertyIn08]

Good thread. Full of responses on what to do with $10,000 from people who don't have $10,000.

"You must spread some Reputation around before giving it to Jordan again."

 

[Diggerjr01]

Start a business

 

[onlyrp]

if you have any outstanding collage loans pay those off first . if not $2500 to paul and some too PAC ?

Tu Pac? that's an awesome name for a PAC!

 

[onlyrp]

Start a business

can you be more specific?