Let me ask you a question –
Is this money you don’t anticipate needing, or do you want to invest in a business or stocks?
A business or stock investment is a long term cost, and the money will (hopefully) appreciate over time. If you need it right away, it may not be liquid enough to pay some bills, as an example.
If you are concerned about liquidity, consider buying a CD (certificate of Deposit) which you can roll over every 90 days or withdraw. If you want to invest, you have decisions to make; Do you want to pick stocks or take a long term view with 1 or more ETF’s/funds/individual stocks? Will this be in a retirement account or regular trading account?
Are there things besides the stock market to invest in, that may appreciate? -Yes.
Some Artwork (looks good and may be sold profitably at a later date)
Coin collections (silver or gold, they have smelt and collectible value)
Almost anything collectible that retains value (Lionel trains?)
You could consider putting $1500 in the stock market, and invest the rest in (as an example) Silver Eagle Coins, which can be purchased on Amazon or eBay.
That is what I would do – Invest smartly, make sure you think it through, and enjoy any future Picasso you may buy.
The Experts Guide to Collecting & Investing in Rare Coins – From Amazon
COLLECTING AUTOGRAPHS -Amazon
Consider talking about this investment with your accountant and/or your lawyer. They may have some ideas too.
Another thought – If you invest in the stock market, look at securities you can buy in the $5 to $10 range. Unless you have a lot of confidence, investing $1500 in two shares of Google might be risky… Buy one share of Google and 100 shares of a different stock pick. (as an example)
Disclaimer – I am not a professional financial adviser, so invest accordingly and consult friends, advisers, and people whose opinions you trust. I do own Google stock and lots of others; I collect specific coins, Silver Strike Casino Tokens, and souvenir pencil sharpeners. It works for me, your results will be different. -Alan
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