What would be a good investment between $5k and $10k to give a persistant monthly income?

I plan to have this much saved by the time I turn 18 next year, and would like to do something useful with it. College is already taken care of, and I own my car outright. With no established credit, what would be the best thing for me to do with my money that would give a better ROI than a savings account or cd?

It will probably be around $8k or more just to narrow things down.

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However, you won't get paid monthly. if you need the cash, i'd suggest you to put aside money you need and invest the rest for long term. Read here for more detail on how to pick stocks:

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There are smart ways to get guaranteed high returns from your $8,000.
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I don't like stocks. I have invested in small business. Now I am earning 2% income monthly (24% annually). I'm sure I'll double my money in 3-4 years.

again if you are young and wont actually need the income i would consider opening a roth or traditional ira and invest it in either a fund of funds or a group of funds that cover both domestic and international investing as well as asset allocation in both growth and value strategies..over the long haul you should do much better than c.d.'s which are taxable while your funds in a retirment account grow tax deffered or tax free depending on which type you choose. systematic investing over time while you are young is the road to riches..as far as the guy who keeps suggesting people avoid stocks and invest in his "small business" game..let me point out that 75% off all business's go broke in the first six to eighteen months..it also takes between three to five years for the average small business that "makes" it to get into the black...I cant think of many riskier investments than investing in a small business....you also may want to look into unit trusts...if you really do need the income you can look into auction rate securites which are liquid every seven to ten days , also you could do a bond ladder,or if you have some help perhaps you could pick a few closed end funds with decent yields that are trading at a wide discount to their supposed nav's...

I agree with baron here...what is otherwise called a fund of funds..one of these types is also called a Target fund or lifecycle fund. They're often named like "target 2030 fund"..meaning nearing/at retirement age at 2030. There are others at 2040 and 2050 now. they generally invest in more growth potential investments (stocks, etc) and adjust themselves over time as the target date approaches. I also can't believe that this place has also become subject to every other schmuck trying to pawn of some worn out or newest pyramid scheme or whatever and try to "sell" it to people as the biggest thing since sliced bread. I also found it particularly funny about the "I don't like stocks, I invested in small business". It sounds like it's some noble thing. But the banks have already invested in that small business, presumably by a loan, or the owner themselves, by their savings. A small business owner has a small chance to make it themselves, let alone having any financial responsibility to investors, so let's have one of these folks be honest. How many people would want to invest money in something that has a 25% chance to make any money at all in 5 years, and when/if they do start to actually turn a profit, after all their hard work and dedication, are they going to want to give any of that to you, let alone be able to. It's almost comical. Don't invest in stocks, in companies that have regulatory requirements to maintain minimum revenue and reporting requirements that have to be established over several years, and a system that has long been in place. No, that system is far too risky. Oh no, invest in something that the companies just started, haven't turned a profit EVER yet, may never turn a profit, have no reporting requirements or even if they did, have nobody to make sure they keep up with the requirements. But it's a noble cause. If you want one of those, DONATE your money to your church or something, but I didn't see the word donate in your question.

Sorry to ramble on. I just am frustrated to see the "internet marketers" (and that's putting it nicely) have found their way here to where people are genuinely looking for investment guidance and understanding.

By "persistent monthly income," you appear to be saying that you want to use the income on a regular basis. A money-market fund would probably be best. On the other hand, if you want to invest it to grow over the longer term, a no-load mutual fund would be a good way to go.

I don鈥檛 appreciate casting my pearls before swine. In this forum there are many a swine who will cast doubt on the most sound advise as well as those who seek advise but won鈥檛 spend a dime for the very best advise. Yet they will throw $1000.00 down easily on a mutual fund that will 80% of the time under perform the market.

If you鈥檙e a beginner asking for investment advise, all you will get here is website and mutual fund recommendations. They will give you the lowest possible risk advise which consequently gives lower to no gains at all.

I took an online course that yes cost me some money, but it is a two for one deal and I didn鈥檛 have to follow a rigorous schedule. I鈥檓 making money in the market, even when it鈥檚 going down. Good luck filtering out the 鈥榮hills鈥?

If you are planning to save and invest that money for a long time, then I would recommend that you invest in stocks. By doing the right research and finding good companies to invest in there is a good chance that you can earn a 20-25% annual return. That means if you invest $8000 and the stock produces a 25% annual return, at the end of the year you will earn $2000, that's about $167/month.

Investing in stocks is simple and safe, so you don't have to worry about wasting to much time watching your investments. Finding solid companies to invest in is very easy and I suggest that you invest in companies that you understand. There are plenty of great companies out there that focus on the youth. You've probably heard of great companies like Apple, Google, Amazon, and Gamestop. All those companies have been great investments and produced fantastic annual returns over the past couple of years. Also, if you invest in companies you like it will make you feel better and want to hold onto them for longer. For example, if you own shares of Apple and next time you buy an Ipod, it will feel like you're buying the Ipod from yourself because you are a partial owner of the company.

Remember to do the necessary research before you invest in any company to make sure it is financially stable, growing, and is actually a good long term investment.

Here are some websites that will help you get started,
http://financiallyhip.blogspot.com
http://www.fool.com
http://finance.yahoo.com

There are better alternatives.
Don't go for stocks. Since the stock market is not going so well, overseas investments would be the best choice.

Starting a small business would be the way to go if you have time.
Alternatively try to invest in someones business. You may receive up to 20% guaranteed interest a year. You will not get such high guaranteed returns on stocks, mutual funds, bonds or CD's.
If you invest $10,000 at 20% annual interest rate, you will get back $24,883.20 in 5 years. I run my own business and my net profit is over 5% a month.

Email me at investment4us@hotmail.com and I'll give you a valuable advice if you are serious about investing. Please don't forget to mention your nickname and question at Y.A.

Best of luck!