Ok, I just got $1000 dollars from a canceled bank account I forgot I had. I could just stick this $1000 in the bank, but it won't grow much there. Should I just buy stuff, or find something to invest in... stock...bonds...ira....

Me being 20 and in college I could just pay for college, but I want to see this money grow someway somehow, doesn't matter how long it takes. Any suggestions?

 

imo

 

lol yes booze and kegs and anything else

 

I had the same thing happen to me a few years ago. I "found" $1500 in an old bank account when I was about 23 (an account my mother opened for me when I was like 10, and I'd put all of my summer money into until I was 16). I had every intention of investing that money into something of value. . . but ended up taking all my friends out and paying for drinks and food for like a month. You know what they say about a fool and his money. . .

Anyway, take your $1000 and put it in the bank for a rainy day. There'll be plenty of time for real investments once you have a job. At 20, and in college, you never know when you can use that cash. Spring Break? Another vacation? Use it on something that will enhance your life experience. . . just don't blow it on booz and pizza.

 

Yes, please PM me for my address so you could send it to me. I promise to do something useful with it.

 

I think I'll just donate the money...

 

To me?

 

are you serious?? unless, you have lots of other cash lying around, you should do what happs22 said, and save it for a rainy day. everyone should have some cash in the bank for emergencies. sure you can invest it, but do so only if you already have your emergency cash stash set up. once you've invested the money, it is not as easy to liquidate it in times of emergency. also, if you have debts, such as credit card debts, you can use the money to pay some or all of the balance off. there's no point in investing the money, if the interest you are paying on your credit card balance will be greater than the return you will yield from your investment. remember, the first rule of investing is: pay off your high interest debts first.

 

one way for it to grow

 

OK ok, I won't donate it. Yesterday I put it in my other bank account. I think it's just gonna sit there for some time.