I recently came upon an extra $11,000 and was wondering what the best thing to do with it would be?

Investments, IRA's, etc....any body got any advice??

Investing in a retirement account is one of the best ways to pay yourself. You can invest cds, stocks, mutual funds, bonds, ETFs inside IRAs.

Roth IRA has TAX FREE growth and TAX FREE withdrawal at retirement.

Traditiona IRA is tax DEDUCTIBLE but taxed at retirement.

You can contribute a max of $ 4,000 a year in IRA. Before 4/15/07 you can claim for 2006 and after 4/15/07 for 2007.

High yield cds and savings accounts are FDIC insured and are at 5%. (Equivalent to high yeild bond)

If you want to take risks and want a higher return, you can invest in mutual funds, stocks, ETFs and history shows that they yield higher than savings accounts. (12-38%) But there is a chance of losing your money as well.

invest it in me.

Pay off any debts you have FIRST! If you are paying interest on a debt, paying it off gives you a guaranteed return on your money!

Put most of it in high intrest accounts. Check current rates for CDs with your bank. Then take a little of it and buy something for yourself!

How liquid do you want it to be and how much risk can you handle?

If you put in IRA you won't see it till your 65, not without major penalties.

pocket about a grand and invest the rest. CD's are good and so is an IRA. But make sure you don't invest more than you can afford. For instance if you come up short on cash and need to cash in on one of these early. If you empty an IRA acct you will be penalized big time by Big Brother. And you can lose cash by cashing in CD's early.

talk to your bank about a cd account or an account which has a good interest rate and leave the money in there for at least a year

or

invest in a small business that will double your money if done correctly.

good luck.

Pay off any credit card debit you have and relax for a while!!!!1

Give it to me

Give some to a charity.........

you should pay off any debts frist. after that you should put in more than one bank by splitting it up. that way you can collect interest from the bank

buy some clothes from:

gucci
chanel
christian dior
yves saint laurent
dolce & gabbana
balenciaga
manolo blahnik
calvin klein
prada
valentino
jean-paul gaultier
givenchy
christian lacroix
or giorgio armani


hahahhhhh sike. don't buy clothes. pay off any debt, donate, donate, donate some more, invest some in stocks, and put whatevers left in a savings account for your kids or grandkids or whoever.

go to your bank and set up an appointment with a financial advisor

Invest. Invest in your own business that might make you at least twice that

pay off any credit card debt and any medical bills. everything but the house payment and start a emergency fund of 3 to 6 months exspenses for a rainy day. It will rain!