How should i spend 10000 dollars

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Here is our detailed guide for how to invest in stocks. When you use them, you get exposure to stocks without actually having to pick individual stocks. But maybe you want to pick stocks. Hands-on or hands-off investing? Pinpoint your goal.

Nerdy tip: If you want to make your money grow, you need to invest it. Learn the fundamentals, how best to reach your goals, as well as plans for investing certain sums, from small to large.

Read more. Learn More. If you have a k , get your match. Max out an IRA. Select your investments. On a similar note Dive even deeper in Investing. Explore Investing. Get more smart money moves — straight to your inbox. Sign up. NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula for online brokers and robo-advisors takes into account over 15 factors, including account fees and minimums, investment choices, customer support and mobile app capabilities.

You market the products on Amazon's website. Once sold, Amazon ships the items for you. It's the simplest form of selling products online. You don't need coding, graphic design, or social media experience for success. You'll have access to Amazon's large marketplace of buyers, and you only do a fraction of the work involved with other selling sites. It almost provides immediate gratification. You can sell new or used items. Fix Up Your Home Your home may be your largest investment.

If it's outdated or needs a facelift, certain improvements can have a direct impact on your home's value. You don't need to make drastic changes to see a large improvement in value. In fact, major bathroom and kitchen remodels often don't have a large return on investment. New siding, new roof, and new windows often pay off better. Small changes within the kitchen or bathroom, such as the addition of granite countertops, often pay off. Another change with a large ROI is updating the home's curb appeal.

You may even get bonus points for energy efficient changes you make. Depending on the tax year, you may get a tax break for the new changes made. But keep in mind, you don't want to wrap up too much of your investment capital in your home.

If you need cash, you can't just sell your living room. It's a good idea to have a diversified strategy overall. Did you know? Many people use this as a side gig. They write when they have time and become affiliate partners with businesses to make money. For starters, you can further your education before starting. Take classes on starting a blog or get in-depth training in your chosen industry.

The more you have to talk about, the better, so education helps. You'll also need money for the domain name, platform, and website hosting. You may also need to upgrade your computer equipment, camera, microphone, and video equipment. Start a Podcast If writing isn't your thing, but you love to talk, consider starting a podcast.

It works like a blog, but you don't host a website. You will need equipment and a host for your podcast, though. When you first start, your free website may offer enough support. As you gain more followers, you may need greater capabilities. Too many listeners can cause glitches in your podcast. This could be bad for your following.

Today, SoundCloud and Amazon S3 top the charts in podcast hosting. No matter which you choose, read the fine print. Some services, including Amazon S3, charge a base fee, but it increases as your following increases. Just like a blog, though, you can monetize your podcast. You can sell advertising time within the podcast or let a company advertise on your host page.

This can help you afford the podcast hosting fees. Start Investing Today. Before that money burns a hole in your pocket, consider your goals and timeframe. Are you going to need to use it anytime soon? If so, avoid putting it somewhere that's too risky, especially if you might need it in the short-term. Will it fund a luxurious vacation, help you retire, or buy a house? First, categorize your goals as being long-term retirement or short-term vacation.

These timelines dictate the level of risk you may want to take. Here's a basic rule: The shorter the timeframe, the less risk you can take. The longer the timeframe, the more risk you may be able to handle. Riskier investments tend to have more ups and downs.

Do you have time to ride them out - and perhaps get a greater return? It's a key question for every investment you make. Apps, such as Personal Capital, can help you look at all of your investments at once to see how they're developing. Read more in our full review of Personal Capital. Risk : The chances you take with your money. It is the level of variability of your investments, which may go up or down. It could hurt or help your financial situation. If you worry a lot, less-risky investments may be better.

Obsessing over your investments isn't healthy. They may cause you to make rash decisions, affecting your finances. If, on the other hand, you don't worry much, more risk may work if you're okay with potential losses. Knowing you are in it for the long run may help. The best thing for most investors is to invest in a low-fee, broadly diversified, stock market index fund.

Buying an individual stock is subject to tremendous risk. A mutual fund or ETF diversifies, and the volatility of that investment will be much less than that of the average single stock. A low-fee fund is essential, as that means more of the investor's hard-earned cash is being put to work. Just as stock market returns compound over time, the deleterious effects of high fees also compound over time.

Total annual fund operating expenses are a miniscule 0. And there is no minimum investment required. Robert R. In a perfect world, a balanced portfolio works best. It gives you a mix of risky and non-risky investments.

When risky investments lose money, they can often be offset by more stable investments over time. When to Invest : If you've got a big chunk of money gathering dust and very little interest in a traditional savings account, then investing in stocks or mutual funds may be right for you.

But don't risk losing money you may need in the short term. Consider creating a rainy day fund first to cover unexpected expenses, including car repairs, illnesses, or even loss of a job. Or invest that money in a risk-free option like a high-yield savings account or CD. The fees alone would eat away your profits. Instead, they handle their own investments. Even without a financial advisor, though, you may pay fees. Look closely at the fine print before choosing an investment.

Stock trading costs: Cost of buying or selling a stock Annual fees: Cost of holding an account with a particular company Account minimums: Fees you pay if you don't meet the required minimum Account maintenance fees: Fees to have your investment accounts at the financial institution Sales loads: Fees added to mutual funds upon purchase or sale you should avoid these Advisory fees: Annual fees paid to the investment professional assisting with your portfolio Expense ratios: Annual fees charged by mutual funds or ETFs, as a percentage of assets.

Just as you might comparison shop for large ticket items, you should do the same for an investment firm. Ask about their fees. You may even be able to negotiate some of them. Keep in mind, though, if you decide to change brokerage firms, you may face tax consequences. For more information on fees, see How to Invest Money. If you are unsure about a brokerage firm, a great tool to use is BrokerCheck.

They provide information about a broker's background, experience, and prior complaints. As part of our series on saving and investing, CreditDonkey asked a panel of industry experts to answer readers' most pressing questions. Here's what they said:. Start by answering the following questions:. Evaluate your situation: Do you have a retirement account? Do you contribute the maximum amount to it? Are you in debt? Is your interest rate higher than any rate of return you could get?

Do you understand mutual funds, robo advisors, and stocks? Do you want to try something unique? Knowing your situation will help you make a more informed decision.