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Thoughts on the Best Ways to Invest $1000

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Nearly a couple of years ago I asked the readers, what's the best place to invest around $1000?.

Earlier this week, Jim Wang asked 24 experts and a wannabe (myself) about the best ways for newbie to invest $1000. I figured he'd get the same two answers from everyone:

1. Vanguard Mutual Funds or ETFs
2. or a Robo-Advisor

And of course those were the two things I mentioned. (I may have cheated by giving two ideas.)

In fact a number of people echoed those thoughts. Since I expected those two, I'll give you some thoughts on the other ideas mentioned. Those ideas were largely thinking outside the box. Everyone has their opinion and that's what makes us (and life) exciting. So here are my thoughts on a few of the suggestions (for what it's worth):

  • Spend the money by Marginal Revolution - Simply because rates on investments are low right now. It's an interesting thought as much of the year the markets have been flat and interest rates are very low.
  • Pay down debt by The White Coat Investor - Love this, but I'd say pay down bad debt. There's a difference between Good Debt and Bad Debt
  • What's your goal by Investor Junkie - This was probably the best of the non-standard advice I had read.
  • Invest in yourself by Nerd’s Eye View financial planning blog - I've never been a fan of Invest in Yourself, because there are a lot of investments that give you no return and suck up your time and energy. It's really hard to know which are good investments... and if you did, you'd probably have already invested in them, right?
  • Invest in what you know by John Paul Engel - Not a huge fan of Peter Lynch's buy what you know as I mentioned before. I knew that everyone would carry internet phones in their pockets back in 2004 and bought Palm stock. How do you think that worked out for me? I'll cover another company that went similarly bad for me in a few days. There's a big difference between the idea and the execution of the company. It can be almost impossible to know how a particular company is going to execute, right Enron investors?
  • Save it in an Emergency Fund by Cashville Skyline - I kind of thought this went without saying, but when you assume that, you can get in trouble. Good idea on Kate for saying it.
  • Depends on the person by Three Nine Financial - This is almost like me cheating and offering a couple different options. Yes it does indeed depend.
  • Don't be emotional by Hylland Capital - Once again, this is a great suggestion and the kind of thing that I simply would have glossed over.

So what do you think? How would you invest $1000? Let me know in the comments below.

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Investing

Posted on June 23, 2016.

ESPN Insider and Magazine Warning

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Two years ago, I excitedly told readers about a deal for two years of ESPN Insider (and magazine) for $9. The deal was really for the magazine, but the magazine subscription comes with ESPN Insider for free. ESPN Insider is the premium content subscription on ESPN’s properties (for those who aren’t into sports). If you […]

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Spending

Posted on June 21, 2016.

A Salad of Business Thinking (Part 1)

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I have a bunch of ideas to share today. There’s thread tying them together, other than them being about business, so I’m just referring to it as a “business thinking salad.” Hopefully, it’s good and you don’t spend your time picking out the metaphorical red onions. The first two headings are about personal/family stuff… along […]

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About / Admin, Business

Posted on June 20, 2016.

Minor League Baseball is a Great Value

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[Editor’s Note: This is one of the few baseball posts NOT written by our resident expert baseball addict Kosmo. I’m going to try my best to live up to the high standards he sets.] Several years ago, when my wife and I lived out in California, we went to our first Minor League Baseball game. […]

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Save Money On...

Posted on June 17, 2016.

Rewarding and Motivating Myself

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I have a problem. It’s a “first-world” problem, so I don’t expect any sympathy. Father’s Day is just around the corner and my wife asked what I wanted. I honestly couldn’t think of much. I kind of want this Intel NUC to update our Windows Media Center that eliminates our cable box rental fees. The […]

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Budgeting, Financial Planning

Posted on June 14, 2016.

Some of My Favorite Deals Now…

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Earlier today I wrote about how I felt weird about this deep post on payday loans on a Monday… especially because my core audience (those pursuing financial independence) probably doesn’t care. I’m always on the look-out for good deals… and I thought I’d share a few to balance that deeper article. Consider this my version […]

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Deals

Posted on June 13, 2016.

Are Companies that Make Payday Loans Bad? (Part 2)

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This is a little deep for a Monday post. After all, it seems like every woman I know is hung-over from their Tony’s/Hamilton “Super Bowl” last night. And most (all?) of us have Orlando in our hearts. I’ll try to make it up to you with something fun on Friday. I could write “10 Ways […]

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Society and Money

Posted on June 13, 2016.

Four Ways to Earn Passive Income by Investing in Real Estate

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[Editor’s Note: The following is a guest post by Ben Miller, CEO & Co-Founder, Fundrise.] Most of us earn a living based on the work we do five days a week and then every few weeks or so we receive a paycheck. When we quit working, the paychecks stop and we’re left with whatever money […]

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Real Estate

Posted on June 9, 2016.

John Oliver Makes Debt Buying Interesting

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This may speak more to the lack of excitement in my life, but one of my favorite parts of the week is watching John Oliver. He’s funny (though sometimes his analogies are too over the top) and he covers important things. It’s surprising how many things just seem wrong with the world. (When I’m the […]

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debt

Posted on June 8, 2016.

The Lost Sock Drawer and Books Galore!

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This was an interesting weekend as far as frugality goes. I scored a couple of big frugal wins: The Lost Sock Drawer A few years ago I decided not to throw out any of my orphaned socks that have no matches coming from the laundry. Instead I saved them in the “lost sock drawer.” My […]

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Frugal

Posted on June 6, 2016.

 
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