Have a little money, want to turn it into more money...

[Justin14]

So I have a little money after my last car transaction and I want to take a chunk of it and turn it into more money.

Total 2500, willing to play with 500 or so. Safety is more important than huge return. CD's and savings accounts are too slow and earn next to nothing. Maybe if I could buy something in a lot and sell for a higher price?

Open to ideas here.

[jnm2.0t]

i hear you can buy stock in facebook now.

[AZGolf]

i hear you can buy stock in facebook now.

Want to know the secret to making a small fortune? Start with a large fortune invested in Facebook at the IPO price.

[a_riot]

So I have a little money after my last car transaction and I want to take a chunk of it and turn it into more money.
.

Photocopier.

[Justin14]

lolz all good answers.

But... how about going to the local auto auction? Hmmm.

[firefighterjunkie]

Storage unit auction I'm only half kidding - my grandparents do it and make a good bit of money doing it.

[AIRider]

Buy yourself a watch. When you have a little more money then dabble in stocks, commission will eat at your 500 very fast if you're thinking of doing a few transactions.

[bubbagti]

Penny Stocks You'll be a millionaire by the end of the week

[dunhamjr]

lolz all good answers.

But... how about going to the local auto auction? Hmmm.

even if you get lucky, you really aren't going to turn $500 into very much, unless you go illegal.

$500...
auction car? its a crap car that no one wanted.
storage locker? maybe you make money.
in stocks? you would have to pick very lucky, or have great timing.

what you can earn also depends on timeline. if you could put the money away for 20 yrs, with reinvestment, lots of mutual funds would give you a decent stack at the end.

but based on the very small amount. and that you asked here. means your timeline is not 20-30 yrs.

[ValveCoverGasket]

But... how about going to the local auto auction? Hmmm.

is the market for old luminas and chevy celebrities really that strong where youre at?

[EUROBORA8V]

It is all possible with the stock market. There is a Jewish guy in NYC who currently trades with about 3 mil. He does it from home. He was given $13,000 by his parents when he went to college and turned it into 1.5 mil in one year. I think he was daily trading for the entire market session. It is possible.


I opened up a sharebuilder account with ING a month ago. So far i am about 18% up over one month. I am starting with small trades and take advantage of their automatic investments for a $1.00 commission. Plus i've got a $50 bonus from them. I am investing into dividend paying shares so there will be some bonus later.


OP: Start following the market, do your research and try to understand how the market works.

[dunhamjr]

It is all possible with the stock market. There is a Jewish guy in NYC who currently trades with about 3 mil. He does it from home. He was given $13,000 by his parents when he went to college and turned it into 1.5 mil in one year. I think he was daily trading for the entire market session. It is possible.


I opened up a sharebuilder account with ING a month ago. So far i am about 18% up over one month. I am starting with small trades and take advantage of their automatic investments for a $1.00 commission. Plus i've got a $50 bonus from them. I am investing into dividend paying shares so there will be some bonus later.


OP: Start following the market, do your research and try to understand how the market works.

its not a guarantee. is not probable. its not even likely.

you cannot just jump in and randomly pic winners. you have to immerse yourself, and even then you can still lose... very VERY easily.

have i picked winners? absolutely, i have sold off a couple of positions at 30, 35, 40% gains... and i currently have a couple i am holding right now with a +40% gain. but i also have had some -50% losers.

i am up more then down.
but have i turned $13k into $3M... hell no.

[Vision33r]

If you are a long term investor, historically speaking it is the most sound investment over a long period than risky stocks.

Say that $13,000 investment into Apple in the 90s could be worth $1.3 mil today.

[ValveCoverGasket]

If you are a long term investor, historically speaking it is the most sound investment over a long period than risky stocks.

Say that $13,000 investment into Apple in the 90s could be worth $1.3 mil today.

how about a $13,000 investment in pets.com in the 90s?

[EUROBORA8V]

its not a guarantee. is not probable. its not even likely.

you cannot just jump in and randomly pic winners. you have to immerse yourself, and even then you can still lose... very VERY easily.

have i picked winners? absolutely, i have sold off a couple of positions at 30, 35, 40% gains... and i currently have a couple i am holding right now with a +40% gain. but i also have had some -50% losers.

i am up more then down.
but have i turned $13k into $3M... hell no.

I was not implying at OP taking $500.00 and turning it into 500k. Heck, turning $500.00 into $1500.00 is a damn good scenario. I am just saying that Stock Market is the way to go. Most younger people tend to invest into dividend paying stocks to gain some leverage.

[AJB]

You want to make some cash..toss all $500 down on a hand of Black Jack. You said your were willing to gamble a bit....

[EUROBORA8V]

You want to make some cash..toss all $500 down on a hand of Black Jack. You said your were willing to gamble a bit....

OP will haunt you in your dreams if he takes your advise and looses it.

At least you can not blame anyone particular if you loose in the stock market.

[rich!]

could play the options game but going to take a bigger knowledge base

[1.8Tquattro]

Gold and Silver

/nezraM

[AIRider]

Go visit some forex forums, and you'll see noobs pipe draming about 20 pips a day on 1:100 leverages and how they're going to turn 500$ into millions. It's possible they say. Of course it is, is it probable. Go and try out, let us know how far your 500$ takes you.

[Justin14]

Go visit some forex forums, and you'll see noobs pipe draming about 20 pips a day on 1:100 leverages and how they're going to turn 500$ into millions. It's possible they say. Of course it is, is it probable. Go and try out, let us know how far your 500$ takes you.

What the hell are you talking about?

OP will haunt you in your dreams if he takes your advise and looses it.

At least you can not blame anyone particular if you loose in the stock market.

Truth

[dunhamjr]

I was not implying at OP taking $500.00 and turning it into 500k.

actually with your whole... 'my friend took $13k and made $1.5Million in a years" comment... you kind of WERE implying that.

[EUROBORA8V]

actually with your whole... 'my friend took $13k and made $1.5Million in a years" comment... you kind of WERE implying that.

Not a friend at first.


I was implying that Stock Market can yield significantly large gains. Duh, it is obvious but i am not sure on how deep is OPs financial knowledge.

[Justin14]

Not a friend at first.


I was implying that Stock Market can yield significantly large gains. Duh, it is obvious but i am not sure on how deep is OPs financial knowledge.

Two words. Kiddie pool.

[AIRider]

What the hell are you talking about?

Noobs pipe dreaming about turning 500$ into millions.

[Justin14]

Noobs pipe dreaming about turning 500$ into millions.

Seriously. Never going to happen!! lol