What do with 10000 dollars

In fact, major bathroom and kitchen remodels often don't have a large return on investment. New siding, new roof, and new windows often pay off better. Small changes within the kitchen or bathroom, such as the addition of granite countertops, often pay off. Another change with a large ROI is updating the home's curb appeal.

You may even get bonus points for energy efficient changes you make. Depending on the tax year, you may get a tax break for the new changes made. But keep in mind, you don't want to wrap up too much of your investment capital in your home. If you need cash, you can't just sell your living room. It's a good idea to have a diversified strategy overall. Did you know? Many people use this as a side gig. They write when they have time and become affiliate partners with businesses to make money.

For starters, you can further your education before starting. Take classes on starting a blog or get in-depth training in your chosen industry. The more you have to talk about, the better, so education helps. You'll also need money for the domain name, platform, and website hosting. You may also need to upgrade your computer equipment, camera, microphone, and video equipment.

Start a Podcast If writing isn't your thing, but you love to talk, consider starting a podcast. It works like a blog, but you don't host a website. You will need equipment and a host for your podcast, though. When you first start, your free website may offer enough support. As you gain more followers, you may need greater capabilities. Too many listeners can cause glitches in your podcast. This could be bad for your following.

Today, SoundCloud and Amazon S3 top the charts in podcast hosting. No matter which you choose, read the fine print. Some services, including Amazon S3, charge a base fee, but it increases as your following increases.

Just like a blog, though, you can monetize your podcast. You can sell advertising time within the podcast or let a company advertise on your host page. This can help you afford the podcast hosting fees. Start Investing Today. Before that money burns a hole in your pocket, consider your goals and timeframe. Are you going to need to use it anytime soon? If so, avoid putting it somewhere that's too risky, especially if you might need it in the short-term.

Will it fund a luxurious vacation, help you retire, or buy a house? First, categorize your goals as being long-term retirement or short-term vacation. These timelines dictate the level of risk you may want to take. Here's a basic rule: The shorter the timeframe, the less risk you can take. The longer the timeframe, the more risk you may be able to handle. Riskier investments tend to have more ups and downs.

Do you have time to ride them out - and perhaps get a greater return? It's a key question for every investment you make. Apps, such as Personal Capital, can help you look at all of your investments at once to see how they're developing.

Read more in our full review of Personal Capital. Risk : The chances you take with your money. It is the level of variability of your investments, which may go up or down. It could hurt or help your financial situation.

If you worry a lot, less-risky investments may be better. Obsessing over your investments isn't healthy. They may cause you to make rash decisions, affecting your finances. If, on the other hand, you don't worry much, more risk may work if you're okay with potential losses. Knowing you are in it for the long run may help. The best thing for most investors is to invest in a low-fee, broadly diversified, stock market index fund. Buying an individual stock is subject to tremendous risk.

A mutual fund or ETF diversifies, and the volatility of that investment will be much less than that of the average single stock. A low-fee fund is essential, as that means more of the investor's hard-earned cash is being put to work. Just as stock market returns compound over time, the deleterious effects of high fees also compound over time.

Total annual fund operating expenses are a miniscule 0. And there is no minimum investment required. Robert R. In a perfect world, a balanced portfolio works best. It gives you a mix of risky and non-risky investments.

When risky investments lose money, they can often be offset by more stable investments over time. When to Invest : If you've got a big chunk of money gathering dust and very little interest in a traditional savings account, then investing in stocks or mutual funds may be right for you.

But don't risk losing money you may need in the short term. Consider creating a rainy day fund first to cover unexpected expenses, including car repairs, illnesses, or even loss of a job. Or invest that money in a risk-free option like a high-yield savings account or CD.

The fees alone would eat away your profits. Instead, they handle their own investments. Even without a financial advisor, though, you may pay fees. Look closely at the fine print before choosing an investment. Stock trading costs: Cost of buying or selling a stock Annual fees: Cost of holding an account with a particular company Account minimums: Fees you pay if you don't meet the required minimum Account maintenance fees: Fees to have your investment accounts at the financial institution Sales loads: Fees added to mutual funds upon purchase or sale you should avoid these Advisory fees: Annual fees paid to the investment professional assisting with your portfolio Expense ratios: Annual fees charged by mutual funds or ETFs, as a percentage of assets.

Just as you might comparison shop for large ticket items, you should do the same for an investment firm. Ask about their fees. You may even be able to negotiate some of them. Keep in mind, though, if you decide to change brokerage firms, you may face tax consequences. For more information on fees, see How to Invest Money. If you are unsure about a brokerage firm, a great tool to use is BrokerCheck. They provide information about a broker's background, experience, and prior complaints.

As part of our series on saving and investing, CreditDonkey asked a panel of industry experts to answer readers' most pressing questions. Here's what they said:. Start by answering the following questions:.

Evaluate your situation: Do you have a retirement account? Do you contribute the maximum amount to it? Are you in debt? Is your interest rate higher than any rate of return you could get? Do you understand mutual funds, robo advisors, and stocks? Do you want to try something unique? Knowing your situation will help you make a more informed decision.

Many investment options have small minimum requirements and low fees. Write to Kim P at feedback creditdonkey. Follow us on Twitter and Facebook for our latest posts. Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content.

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There are two options for individual retirement accounts IRAs — traditional and Roth. The main difference is the tax treatment of contributions and withdrawals. You can write off contributions on your taxes each year with a traditional IRA, but your withdrawals are taxed during retirement. With a Roth IRA, you contribute after-tax dollars but pay no taxes on withdrawals.

Make sure you check out the Internal Revenue Service IRS website for a complete list of restrictions, penalties, and other terms. You may also want to take your nest egg and invest it in your child's college fund.

Your best bet is a plan. The cost of college continues to rise, and anything you can do to help pay for these expenses can help your children decrease their reliance on student loans.

One of the key benefits of investing more of your money in your k , IRA, or in a is that you're effectively investing in the stock market. While it is riskier than your checking or savings account, you can expect to get a much better return on investment ROI over time.

Gains on money invested in plans are tax-free, as are withdrawals when used for college or educational purposes. Putting extra money toward paying down high-interest debt is financially savvy, assuming you have your emergency fund funded. Research all fees and expenses that may come with any investment you choose, as some fees can take a chunk out of your investment over the long-term—you don't want your investment efforts to have an adverse effect on your savings.

Internal Revenue Service. Federal Reserve Bank of St. Roth IRA. Find out more: Should you invest in bitcoin? Another tip is to drip feed money into your pot over time to give it the best chance of growing.

Find out more: Are Premium Bonds a good investment? Find out more in our guide to ethical investing. This is because you need a large deposit as we explain here.

Property funds could be an option. Fund managers buy properties then pass on the income and capital growth to the investors who buy into those funds. Find out more in our guide to property investment. Markets go up and down, so investors should check their portfolio occasionally. But only make alterations if their circumstances change, or to rebalance their portfolio.

Rebalancing might mean buying more shares when stock markets fall to be in a position to benefit when markets bounce back. Find out more: Investing for beginners course: module one. Receive regular articles and guides from our experts to help you make smarter financial decisions. By entering your details, you acknowledge that your information will be used in accordance with our privacy policy. You can unsubscribe at any time. This article contains links from which we can earn revenue.

This revenue helps us to support the content of this website and to continue to invest in our award-winning journalism. For more, see How we make our money and Editorial promise. Searching Money Mentor. See all results.