[p42once]

Hi my names Russell and I'm a new user here. I just finished from working in a cruise ship for 5 months and I've saved up 15 grand. I'd appreciate it if I can get some suggestions on the best ways to invest this kind of money.

[ScottGem]

To give good advice on this we would need more info. How old are you? What other investments do you have? What are your goals for this money? What is your toleration for risk?

[p42once]

I'm 21 years old, have no other invesments, my goals for this money is to make it grow ofcoarse but I don't have a clue, and I can handle a little risk. What bank has the best annual % on savings?

[ScottGem]

Do you want to leave this money for long term growth, short term growth or what?

Currently banks are paying about 5% on short term savings with slightly higher yields on longer term savings. You are more likely to get higher returns from mutual funds. But the long or short term needs are a key to which way to go.

[p42once]

What would YOU do with this kind of money. For business purpose.

[Fr_Chuck]

Yes how long you can leave it is a issue, if you want full risk, you have money market accounts still doing 12 percent and better, but you can loose the entire investment if the market really went bad,

If you are looking a lot longer term you can put some of it in a IRA for retirement

Best bet, sit down with at least 3 investment experts, banker, investment company and see what seems best for your needs and feelings

[ScottGem]

What I would do with it may not match your pruposes. Personally I would use it to pay off debt.

I was also thinking about putting part of it away in an IRA depending on whether your goals are long term or short term. But investment advice has to fit the investor. Following advice that doesn't fit is a recipe for disaster.

[p42once]

Thanks father, maybe I'll consider that. You think I'll be lucky in vegas?