If you were given $10,000, how do you double up that amount in a short time?
By syain1972
@syain1972 (1011)
Singapore
April 11, 2007 3:31am CST
Would you invest in it or placed in a fixed deposit account or what? What are the options available? I am trying to convince my friend who has inherited some cash from his dead uncle against spending it on unnecessary things. She had wanted to get a Rolex watch as she was told by her other friends that this is an investment... Help, I do not want her to be scammed!!
1 person likes this
1 response
@kiddygurl (803)
• Singapore
11 Apr 07
Well, if I want to fully use the money for investment, I would divide the money into 3.. The first third part of the total would be put to a fixed deposit account, the second would be invested in a lower risk investment, and the rest would be used to buy higher risk investment product like stocks... That's just me.. Hehe... If I want to use some of the amount for spending, I would divide it into 4 or something, and use the 3/4 of the total for investment.. I mean, $2,500 is still a lot of money for shopping spree.. Just a thought... I don't think Rolex watch is a good idea... =)
Just my two pennies.. =)
1 person likes this
@syain1972 (1011)
• Singapore
11 Apr 07
Thanks for the useful pointers! I'll definitely use it to drum some sense in her brain! I too think a Rolex watch is not an investment. :
