Grandma left me 20 grand

[groundpound4200 5,000+ posts]

I'll sell you an annuity paying over 4% on new money. //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif I dont think any CD can touch that.

 

[sundownz Pro Seller]

You should invest it in Sundown Audio *laughs*

But seriously... Flip had a good suggestion.

 

[Ellsworthz 10+ year member]

put a down payment on a house, market wont be this bad in 5 years, get a nice one while you can.

 

[mcsoul 10+ year member]

You'll have racked up 12 grand in credit card debt by then.

That leaves 4 grand for sundown and 4 grand for hookers and booze.

 

[duece212 5,000+ posts]

You'll have racked up 12 grand in credit card debt by then.That leaves 4 grand for sundown and 4 grand for hookers and booze.

best place to put money

 

[crunktimes.com 5,000+ posts]

Buy 20 grand in treasury bonds that double every 7 years.

I believe they only double every 14 years or so now. When I was little I remember getting bonds for my birthday and buying a few with paper route money that doubled after 7 years.

Looked it up a few years ago and it was something like 14-15 years now.

 

[Flipx99 5,000+ posts]

I believe they only double every 14 years or so now. When I was little I remember getting bonds for my birthday and buying a few with paper route money that doubled after 7 years.
Looked it up a few years ago and it was something like 14-15 years now.

The easy way to see when they double is known as the rule of 72. 72/rate is aproximated when they double. You can do the mathematics to see when they actually double, but the rule of 72 is decently close.

Treasury yields right now are so low it's not even funny. It make take 40 years or so.

 

[donpisto 5,000+ posts]

Was gonna mention pretty much what Flip did. At first it didn't make sense to invest in a 5 yr CD...due to fluctuating interest rates.

I did not think of splitting it up into 3 months, 6 months and 1 year CD's, seems like a good idea, but can have it's disadvantages. What if the 3 month CD is earning the most interest? I was going to recommend doing a 6 month CD and keep finding the best interest rates as times go on.

In all honesty, if you look at it from outside the box, it's a gamble no matter which CD you go with, because you won't know which one will have the higher interest. HOWEVER, the big however, you are not losing anything. Any bit of money gained is extra money you would not have gain had you not invested in a CD.

Splitting into 3 CD's I think is a good idea, but you are going to have to be on top of it every 3 months. Great experience for you though.

 

[Flipx99 5,000+ posts]

Was gonna mention pretty much what Flip did. At first it didn't make sense to invest in a 5 yr CD...due to fluctuating interest rates.
I did not think of splitting it up into 3 months, 6 months and 1 year CD's, seems like a good idea, but can have it's disadvantages. What if the 3 month CD is earning the most interest? I was going to recommend doing a 6 month CD and keep finding the best interest rates as times go on.

In all honesty, if you look at it from outside the box, it's a gamble no matter which CD you go with, because you won't know which one will have the higher interest. HOWEVER, the big however, you are not losing anything. Any bit of money gained is extra money you would not have gain had you not invested in a CD.

Splitting into 3 CD's I think is a good idea, but you are going to have to be on top of it every 3 months. Great experience for you though.

This is exactly why you ladder the CDs into different ranges...to take advatage of interest rate spreads over time.

 

[macq32 10+ year member]

interest rates are high, throw it in a cd

or if you were smart, open up a 401k or something. if you dont touch it itll be millions by the time you retire. That could be your entire retirement fund right there. I'd look into it.

 

[Banana Balls 5,000+ posts]

i got about 75k coming to me but i would easily give it up to keep my grandma around (tear) love that women

Pussy

 

[mbaoo]

Thats cool OP.

Thats how I got loaded.

When my nana died. I got 24,000 bucks from her.

Its was really weird going to the bank to deposit a 22,000 dollar check. (the other 2 grand came later)

Put it in a high interest CD. I put away 13,000 and spent the rest. Ive made about 600 after a year.

 

[mrogowski 5,000+ posts]

Can I be your friend? //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif

 

[IDSkoT 5,000+ posts]

i actually think i have you on my b list cuz of that box build we were gonna do but went local for shipping cost reasons, none the less i wont message you.. im drunk, and cry easily..

 

[solidcrowd 10+ year member]

401k and a millionare by when though? I kinda wanna live my life one quarter mile at a time lol jkjk.