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

[Reason]

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

--update--

The 10k is not a loan.

 

[driller80545]

Buy gold!

 

[brandon]

Interest on any savings account or CD is going to be neglible. Waste of time. The only reason to keep money in a savings account is because you don't want to risk it in the markets. There's no reason at all to get a CD.


IMO - either save it in a savings account for a down payment on a home or open up a vanguard mutual fund with it. A lot of banks will give you perks if you are keeping that much money with them. You may get a free lock box or free checks which will be worth much more than whatever interest they pay you.

 

[MyEyesTheyBurn]

Burn it and help fight inflation.

Alternative answer: help someone else with it (i.e. invest in small business, help a single mom, buy someone a used car).

 

[thoughtomator]

take it out in $1 bills, write END THE FED on every one of them with a Sharpie, and use it as spending money

 

[ctiger2]

Donate it to food shelter.

 

[CaptainAmerica]

If you have a place to lock up valuables :
1.purchase valuable rifles/guns
2.exchange the dollars for gold /silver/copper


keep it invested into several places that are safe in the market and don't let it just sit there as dollars.

 

[fisharmor]

First thought was "GUNS AND AMMO" but then I saw where you are.

 

[angelatc]

buy me a car!

 

[MRoCkEd]

What about a Roth IRA?

 

[Indy Vidual]

Invest in websites

 

[Cowlesy]

What about a Roth IRA?

+rep --- was hoping someone mentioned that.

If you don't think you're going to need it for anything in the near term, Roth IRA is the best investing option because it grows tax free. Not sure what the contribution limits are for them, but it's something to check into.

 

[Edward]

Two chicks at one time.

 

[fisharmor]

Two chicks at one time.

/thread

 

[squarepusher]

Two chicks at one time.

f*ckign this

 

[Steven Douglas]

Twinkies, Ho Ho's, Cup Cakes and Ding Dongs.

Invest in a good vacuum freezer, and stock it to the gills with all the Hostess products you can get your hands on, because Hostess filed for Chapter 11, and those products may not be available at any price, as a casualty of labor cost issues.

Once that happens, sell them at four or five times the price, even on ebay - If you're the only game in town, I'll buy!

 

[Cowlesy]

Twinkies, Ho Ho's, Cup Cakes and Ding Dongs.

Invest in a good vacuum freezer, and stock it to the gills with all the Hostess products you can get your hands on, because Hostess filed for Chapter 11, and those products may not be available at any price, as a casualty of labor cost issues.

Once that happens, sell them at four or five times the price, even on ebay - If you're the only game in town, I'll buy!

Pretty sure they're going to operate on debtor-in-possession financing until they re-negotiate their labor agreements, meaning they will continue to produce products.

 

[Steven Douglas]

Pretty sure they're going to operate on debtor-in-possession financing until they re-negotiate their labor agreements, meaning they will continue to produce products.

I was being facetious, the only serious side of it (as a matter of principle) being to look for anything you know is going to be relatively more scarce and also more in demand, especially in the short term.

 

[LibForestPaul]

+rep --- was hoping someone mentioned that.

If you don't think you're going to need it for anything in the near term, Roth IRA is the best investing option because it grows tax free. Not sure what the contribution limits are for them, but it's something to check into.

The Congress of the United States has stated that at this time withdrawals from Roth IRAs do not incur any income.
My 401k also grows tax free, as well as my rollover IRA. I take the tax benefit now, and will get hit with an income tax later.
i.e. A bird in the hand is worth two in the bush.

 

[LibForestPaul]

one word...Plastics!