Where should I invest this play money?

[mark_1]

I recently sold a car in which I received $7,000. I leased a car in place of this sale with zero out of pocket for 36 months. I have cash in a savings account as well as a cash money account. Theoretically, this sale money is "play money" meaning I would be willing to take some, most or all of it and invest in something high risk with the hopes of high returns over next 36 months. I also understanding I could lose it all. Unfortunately, I do not know anything about investing and am looking for suggestions on what to do with this money or who to talk to. I could throw it in my CMA account (Merrill Lynch), but it is not a high risk account and is setup for retirement. Thoughts?

[bjl584]

I think it depends on the rest of your financial picture. Are you on track with retirement? Do you have other debts? Do you foresee any major expenses in the next couple years? Is this $7000 truly play money, or would it be better served using it for something else?

Can I ask why you leased a car? Leasing usually is not a good financial move.

[disneysteve]

I recently sold a car in which I received $7,000. I leased a car in place of this sale with zero out of pocket for 36 months.

Why the heck did you lease a car? Why didn't you take the $7,000 and buy another car? I'd say you need to park that $7,000 somewhere safe so that when your lease is up, you have the money in hand to buy your next car with cash. If you invest this and lose it, or lose a chunk of it, what will you use to buy the next car? Or will you lease again and lock yourself into endless payments?

Don't ever lease a car again.

[feh]

Why do you consider the $7K "play money"? Why don't you save it for retirement?

[disneysteve]

Why do you consider the $7K "play money"? Why don't you save it for retirement?

It isn't play money. It is money that should have gone to the next car purchase. Now that OP is locked into a lease, it should be set aside to buy a car when that rip off is done.

[coffee]

Right now no one knows and the market is a crap shoot. Buy some type of commodity based ETF or fund.

[feh]

Right now no one knows and the market is a crap shoot. Buy some type of commodity based ETF or fund.

I disagree. Need the money in 2 or 3 years? CD or money market.

[Anton James]

I think we are at the point in the economic cycle where an upturn is about to take place across the US and Europe to a degree (UK, Germany, BEnelux and France.

With this in mind I think potential stocks to look at tare those that have been depressed since the credit crunch - there are some potential fast rising stars in there imo. Be careful which sectors you are looking at, I like high technology and think that will see growth this year in the US and UK.

ATB

[Allisons Financial Advice]

It isn't play money. It is money that should have gone to the next car purchase. Now that OP is locked into a lease, it should be set aside to buy a car when that rip off is done.

sound financial advice imho

[CandaceKroslak]

Re:Where should I invest this play money?

I think real estate is one of the best investment ,one will never regret after investing in it.But before investing in it you must know various secrets of real estate market.

[MatthewC]

Personally, I am in favor of buying cheap cars myself. As others have mentioned here, your lease is a rip-off. Leases are. As someone else said before, don't ever lease again.