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

[Barrex]

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

Well in my response I just wrote what I did with my money. You cant start saving money (buying gold) when you have expenses like rent etc. It is like buying solar panels for your house and you didnt buy house or saying you would abolish 3 departments and not remembering which 3.

 

[christagious]

help a single mom, .

Strip club!!!!

 

[Seraphim]

Good post!

+ rep

 

[intelliot]

Start a startup company!

 

[onlyrp]

Start a startup company!

doing what though? A lot of people say 'start a business' but what specific business in today's world makes money with $10K invested?

 

[presence]

doing what though? A lot of people say 'start a business' but what specific business in today's world makes money with $10K invested?

You'd be surprised. Pellet stoves are an emerging market. Becoming a distributor can net 30% gains on sales of $1500 units.

Option B: I'd invest in the tools necessary to turn my college degree into a career. Focus on needs. Buy used.

Option C: Also consider leverage. 10k is 10% of 100k home loan. I'm on 7 acres with a cozy home on that paradigm.

Before I invested in gold... I'd consider raw materials. Barcoded building materials are through the roof right now... but rough materials... like gravel, rough sawn lumber, etc are cheap as can be. You could probably build a solid 30x50 pole barn w/ 10k. Now what could you do w/ that?

Also, If you're not sitting on $1000 of dry goods and a good food storage program... this is another good place to put yourself amid economic uncertainty.

Finally... Labor. 10k is half a year with your average struggling self employed handyman at your beck and call. Consider those possibilities.

I purchased a 10k 10 acre lot one time... Not too difficult to turn a 10k lot into a 15k lot if you're willing to wait a year for the sale; many a desperate man looking to dump land right now.

presence

 

[Paul or not at all]

Donate it to Revolution Pac.

 

[buenijo]

I am currently attending college but can handle the costs with my current income.

This money was just released to me and was a savings account that was meant to be used for college.

I already have 1k invested in precious metals.

I have a decent safety net in my savings & checking.

I have no debt.

What should I do with the 10k?

Right now I am calling around and comparing savings account %'s and CD %'s

Pay off debts if you have them. If not, then keep a cash balance sufficient to provide a buffer during hard times for about 3 months or so. Buy silver eagles with the rest.

 

[intelliot]

doing what though? A lot of people say 'start a business' but what specific business in today's world makes money with $10K invested?

How about mobile apps? If you want to make mobile apps, contact me on Skype: intelliot
(I like talking with and helping entrepreneurs.)

That's what I'm doing, and I'm making high 5 figures per month.

 

[TER]

srsly ... backpacking through some relatively safe 3rd world country best education you can hope for. maybe do some Catholic charity work while you at it.

Indeed, an excellent source of education.

 

[Reason]

I have no debt.

The 10k is not a loan.

 

[TER]

No one knows your situation better then you and the people who love you. If you have no debts, then you are at a great starting point. A good direction would be to get a job according to your skills.

 

[TER]

If you have job, and have a good amount saved for emergency, then give it to charity, and your rewards will be tenfold.

 

[Dianne]

If you go to www.homepath.com you would be amazed at how cheap some of the condo's are in the Myrtle Beach, Hilton Head, SC area. I've seen condo's listed in the upper 20k range that last sold for $145k . You know our thugs in the Congress and banksters are heavily investing in these properties; and when they are ready for them to rebound they will shoot back up. Or another option, is keep your eyes open for property in North Dakota where you can bug out if you have too. I still think real estate is an excellent investment; especially if you can buy dirt cheap and keep it rented. All those who are having their homes stolen by the government, are going to have to find a place to live.

One thing to be careful of if you consider buying a foreclosure is the tax value. For example I just saw a house listed in the Hilton Head area around 40k, but the tax value is around 130k.

 

[Dreamofunity]

What about a Roth IRA?

This.

 

[Johnnymac]

Keep it out of the banks, and the stock market. Buy tangible goods that you need now or in the future. Some ideas:

+ Quality bike (pedal) suitable for road and off road use
+ Guns, Living in CA does not restrict you from owning a gun. I suggest a 9mm or bigger handgun, pump shotgun, Ruger 10/22 for practice, service caliber rifle .223 or 7.62x39
+ Ammo for all your guns, heavy on .22LR since it might make good barter some day
+ Junk silver (pre 1964 quarters are 90% silver)
+ investment quality silver (maple leafs are nice)
+ Food, do you have a 3-6 month supply of everyday food in your house? Buy now and beat inflation....far better return than a CD!
+ Long term storage foods in buckets, #10 cans, etc.....3 month supply is a good idea
+ Quality outerwear, clothing, and footwear...think Patagonia and other top brands
+ Quality backpack and a good set of camping gear (sleep bag, mess kit, air mattress, water filter, etc)
+ Land that you can camp and grow things on.....check town auctions where they sell properties taken for taxes.....CA may be too expensive for that
+ Set of hand tools. Craftsman makes nice mechanics tools, dewalt makes good power tools.
+ Enough cash to pay your bills should some emergency hit you...perhaps enough to relocate quickly should you need to "get out of dodge"

nailed it, this is what i would do.

 

[RonPaulMyPresident]

Make a donation at www.ronpaul2012.com