Financial advise needed

[Jon]

I just recently came into a little bit of extra cash and I am just looking for some input and feedback on what I should do with it.

A little bit of background on me.
I'm 26 (since last thursday ).
Currently have no debt to anyone.
I do not have a full time job, but work my ass off making things, fixing things for people, and doing graphical and image manipulations for several individuals/companies, all of which pay irregularly but enough that I stay afloat.

Now this will all be hypothetical since I am not into giving all that many details as to the amount, from who or where the money came from, or anything like that. All I will say is that I received the money legitimately.

So say you have $10K and you are in the same boat as I. Have no debt, little to no expenses, and don't want to spend it on blow and hookers (first thing that came to my mind... ).
How would you invest it? Or what would you invest it in?

[Pandemic]

Further education.

[mtnbikaah]

roth IRA.... set it aside for retirement....

or put it towards a down payment on a house?

[MikeW]

Id either tie up loose ends or put it away. Dont blow it. Anything more than a few hundred dollars could really come in handy in a pinch.

[Jon]

Further education.

I really don't need any further education. Already spent enough time and money getting all educatified.

roth IRA.... set it aside for retirement....

or put it towards a down payment on a house?

Thought about a house since the market is crap right now and there are some hell of good deals, but I don't think I could afford a house payment without a steady income.

An IRA is in the back of my mind as well.

Another option I have right now is a municipal bond. The local municipality is selling some bonds at $5K intervals, earning a little over 5%, paying interest biannually. Only problem is that the money would be tired up for at least five years or ten if you want a better interest rate. That was an option I was looking heavily at.

Id either tie up loose ends or put it away. Dont blow it. Anything more than a few hundred dollars could really come in handy in a pinch.

Yeah I really don't want to blow it either. I'm perfectly happy living my broke ass life and would like to hold onto as much of the $$$ as possible. So getting it tied up for a while might be a good idea just to avoid spending it.

Good feedback guys, keep it coming!

[deevergote]

I say tie up $5,000 for 10 years. Put $3000 in something a little more short term, but still safe. The remaining $2000, put it into well researched high risk investments. You could see a significant return. You could also lose it... which is why 80% is tucked away safe, earning a steady return!

That's what I would do, if I could keep myself from spending it on something worthless.
Actually, I'd probably use it to get my teeth fixed (I want to get veneers on my 4 top front teeth... it'll be nearly $8000, I figure), Lasik surgery on my eyes (which may not be possible for me anymore...), or dump it on my house (it's already more than half paid off... an extra 10 grand would help a hell of a lot!) But those are my personal financial needs.

[Makaveli2k]

Excuse me while I put on my reading glasses for this.

Fuck Bitches. Get Money.

=p

Sorry I can't be of more help.

[Accrdwgnguy]

CD saving account. Higher interest.

[foamypirate]

Mutual Funds get my vote. Split between:

Growth
Growth & Income
Aggressive Growth
International

Mutual funds tend to average 12% returns. In 10 years, that gives you $31,000. You'll have $1,000,000 in 41 years if you never invest another dime.

[PointBlank]

Buy as much gold as you can.

[Jon]

Thanks for all the input guys, some ideas are better then others (HELL YA FUCK BITCHES. GET MONEY! ).

I think I've decided on what I'll do with it. It's probably going to get split like this:
50% into a longer term account (either a CD, mutual fund, bond, IRA, something that I know will gain longer term).
30%-35% into a short term account (short term CD, stocks, maybe something that is higher risk or a place that I know I can pull the money out of in case I need it).
And the remainder will stay liquid spread across my savings account(s), never know when my 20 year old CB will die. .

I may spend some of the liquid cash to buy some quick sell items that I know I can make a buck on, but nothing big.

[bobbycos]

roth IRA.... set it aside for retirement....

or put it towards a down payment on a house?

cd at the bank !!!!!!!

make your money grow !!!!!!!!!

[Jon]

cd at the bank !!!!!!!

make your money grow !!!!!!!!!

Most CDs are only pulling 1.75% for a five year note... not all that good if you ask me.

[foamypirate]

Most CDs are only pulling 1.75% for a five year note... not all that good if you ask me.

Especially considering the 4% annual inflation average. You are basically losing money in a CD...

[HondaB18]

Especially considering the 4% annual inflation average. You are basically losing money in a CD...

CDs/Savings are considered securities. Not investments.