[SonicGerm]

Hello everybody,.... (hello Doctor Nick)

Anyway I have 20k just chillin in my savings account. I could payoff my car with it. I only owe 15K but I feel I should invest it in a CD or something. I have a mutual fund and IRA but lately they have hit the shit. I'm just seeing what advice my forum brothers have for me.

Thanks.

[Tondtar]

Being debt free is the best investment these days.

I say pay off the car and invest the rest buying beaten down stocks which is sure to make a rebound in the near future - like CSCO

[txusa03]

not an advice nor am I expert but someone told me dont let this market scare you, this is really a time to buy buy and buy

[ADHD]

Pay off your DEBT!!!!! THat should be the first thing everyone should be doing right know!!

[RMA]

Only if your debt is a non-interest fee loan that is

[sinnet112]

Pay off at least part of the 15K, then put the rest into a short-term CD (6-months is about right). GMAC's offering one at 4.00% APY which is not bad at all (and it's FDIC insured so even if they do go under, you'll be fine).

http://gmacbank.com/todays-rates/cd-rates.html

In 6 months time, take it out and then invest it in these markets. I have a feeling they'll be even more battered down then than now. No point in going in when it's just going to get worse.

[MJC///M3]

You can play a few options (if you know how to trade them)....throw in a few december puts on XLF (financial sector index)....mabye turn yourself a nice little profit.
If your not into equity speculation...I'd say pay off your debt for now, market has yet to hit bottom....only way i'd invest in market now...is short sell. (you may get an occasional rally, but overall trends are still pointing lower).

[Brunotheboxer]

I would either invest it into property or the stock market. This is a great time to buy if you are in for the long haul.

[Spec 1]

I'm an insurance and banking advisor working for my licenses in financial advising. Good practice is to leave yourself enough to fall back on in your savings account (rule of thumb is at least 3 months income), apply a good chunk of your remainder towards your debt, and talk to an advisor to get some money into the market. It's great that you've got both the mutual funds and 401k going. CD's are relatively (well, very) conservative investments vs stocks being highly volatile right now. If you're investing for less then 5 years, throw it into CD's. If you're investing for 10+ years, throw money into the market now, it's a great time to buy.

[LACSTER]

Bcome a hard money lender and charge 20% interest.

[kgb1637]

Sinnet112 hit it on the head. Use those CD's, especially the 6 month ones. You'll gain at least twice the interest and if you're not spending it, might as well make as much as you can. I'm still skeptical of buying, buying stocks right now. Still space for it to still fall plenty.

[BaLLzZz]

In my case i would pay 10k off leaving my loan too 5k + interest put 5k into 6 month CD and play with the remaining 5k in the current market. But that's just me...

[jdink]

To answer this question we need to know what % you are paying on your car loan.

[mpimping]

Originally Posted by 3BANGER

Bcome a hard money lender and charge 20% interest.

bad idea but you could double your money in card counting or poker in 2 years but you have to be good...

[mpimping]

or just put it all on google

[Rick]

Now might be a good time to put some money in the market, there still might be some downside though. GE closed at $16.29 today but it's a solid company IMHO!!

[BaLLzZz]

Im thinking of getting some GM stock very soon

[its ray den]

you think they're going to get bailed out by the govt?

[BaLLzZz]

Originally Posted by its ray den

you think they're going to get bailed out by the govt?

I think so because they control at least 15% of all jobs int he usa. I really dont think the govt can handle a loss of 15% of the whole working force. But im no professional yet

[Laser McCool]

GM wont get the bailout.. IF I were you, I would sink a few thousand in CITI (c) its at 8.45 right now. that is a STEAL!! its 52 week was 37.50 and they did not participate in any of the lax lending guidelines of other banks over the years. I also like VISA at 50 dollars a share

[Spec 1]

/\ To add to that Metlife is very low, I think in the $10-15/share range right now, but it should easily get back up to $60/share over the next two years.

[HLDC11]

cash is king!