$1,000 - best investment and why...

[leadcounsel]

Say you find $1,000 you had misplaced. You have 100% legal ownership. Your high interest debt is all paid off.

From a pure investment standpoint:

Do you invest in guns, ammunition, or something else?
Precious metals like gold or silver?
Stocks, mutual funds, bonds?
Property, house, land?
Other?

Or do you throw it at your low interest mortgage and student loans around 3-5% interest rate?

Now- let's say that $1,000 is actually $10,000... does that change your answer?

 

[CoRoMo]

Something else.

Finishing my basement is my priority right now. I suppose that falls under the 'property investment' choice though. I'm glad that I've never been in debt once in my life. Well, except for this mortgage.

Yes, $10,000 changes my answer a bit. I'd definitely break that sum up into a few different purposes. Basement, vehicle maintenance, etc. and yep, I'd have a new gun when it was all said and done.

 

[btg3]

A fundamental tenet of personal money management is to have an emergency fund in place. The purpose is to cover unexpected expenses such as home/appliance/automobile repairs, trips to the doctor, etc.

Beyond that, it's a good idea to have 3-6 months living expenses stashed away in case you find yourself in the job market.

Since you have student loans, why not get that behind you, even if <5% interest.

Also, given that you move often, I'd look at whether buying versus renting a home is helping you achieve your financial goals. Government benefits may factor in that equation.

From the info you give, I'd pay off the student loans. YMMV.

 

[Jorg Nysgerrig]

This is off-topic. You might want to ask on a financial advice forum.