Posted Friday, August 28, 2009 10:56 AM
So I just recently received some money from a Trust Fund that was set up for me when my mother passed away several years back. It was about $20,000 that I received.
I put $10,000 in my checking account (just so I would have it there to pay off any bills that were outstanding and such) and $10,000 into my savings account.
What I'm wondering is if anyone out there has any advice as to whether I should put it into a short term CD, let it sit in savings, or maybe invest in some small stocks and see if I can double it short term.
Yes I know this is a gambling site, and I know I can put it towards the upcoming NFL season...that however is not an option at this point. I have my gambling millions already set aside.
A co-worker of mine put $1000 into 5 separate stocks that were currently trading for less than $5 each...but had at one point in their life been up around $20-25...is there anyone out there that has tried something like this? What would be the best way to approach such a thing?
Once again....all opinions will be welcome, and this is a serious question, so lets try and limit the hookers and gambling suggestions.