What would you do with $5,000...

[Lance_Best]

Are you kidding me???? He won't have any left of his $5K. You should refrain from suggesting stupid things just so you could find an opportunity to display your signature.

LT

...glad to see were supportive and positive! Keep up the great work!

Los Angeles to Beijing $ 772
San Francisco to Shanghai $ 854
Washington to Beijing $ 1104
Chicago to Shanghai $ 988
Los Angeles to Guangzhou $ 812

Holiday Inn Beijing is
560.0 Chinese Yuan Renminbi = 77.12882 US Dollar Per night, 10 nights = $770

So far were at $1,758 this is just a top level look. There are always people who say why you cant. Which is strange, I didn’t thing there would be many on these boards...
This is something I’d like to do, and I don’t believe requires a huge start up costing. If you do your research, talk with some suppliers and manufactures before you go. Have your agenda set and stick to your goals, you could get a lot of mileage out of a trip like this.
Or, possibly you’d spend all your 5k and I should refrain from suggesting stupid things.

[ladyk5]

Personally If I knew then what i know now, I would start a business. I got a 1% interest loan 30K at a young age, everyone at the Academy did and although i did not waste it (I was young but not so dumb) I invested it in the stock market (day trading), IRA and mutual fund investments, real estate down payments, car down payment, and paid off bills while some of my fellow classmates spent theres on buying a nice fancy car and other dumb stuff. Now I will say i made decent decisions but if i could do it over I would buy more real estate and start a business (most likely internet). No matter what you decide to do make sure that you let your money make money for you not take money from you...

[allysa]

If I have that money, I'll would put the 75% in the bank and the remaining will finance my start-up business. The business I'm good and interested in..

[rpm]

Recessions aren't the best time to invest. Buy some books and take some courses to help you lose the dumb. Accounting and business courses, Micro and Macro economics would be good. Computer programming courses are invaluable.

[webgal]

If you're out there LOOKING for a place to invest or spend the money or for a business to start, you're likely not going to find the best opportunity, because you're putting a priority on time (finding it NOW) rather than quality (finding the best opportunity for my dollar).

When the right opportunity or idea comes along, you'll know it, and you'll know it because it will likely be in an area that you are familiar with and enjoy.

Ditto. Otherwise you are ripe for a scam artist. Sit back, relax and just keep your ears and eyes open.

[kiddoso]

Recessions aren't the best time to invest.

That's a generic statement that is mostly incorrect. It all depends on what you are investing in. If anything, I want to argue that recessions create plenty of opportunities.

[BusinessAdviser]

That's a generic statement that is mostly incorrect. It all depends on what you are investing in. If anything, I want to argue that recessions create plenty of opportunities.

I'll go ahead and hop in your boat. With stocks, as one example, recessions are the BEST time to buy. Ever heard of "buy low, sell high?!" Don't believe me? Try taking Warren Buffet's word for it.

[getit4u]

I agree as well. "buy low sell high"

[cardcarrier]

Hey Zack, be careful when you tell people that you have $5000 and are young and dumb. There are a lot of people on here who might take advantage of that fact. Hide your weaknesses and shine your strengths. Take your time... I'm not sure how old you are, but $5000 can go along ways towards building a business.. it can also disappear in the blink of an eye.

I started my business in May of 2006 with $6500 that I borrowed.. this year I will do $800K in sales and I have a staff of 9 people. Move slow and keep your eye on the ball.... if you ever have any questions please feel free to send them over. I'd be glad to help you and I have no desire to do anything with your money...

What business did you start?

[cardcarrier]

what business did you start?

[bigredtomato]

You can start a business with a lot less than $5k. But why start one business? You could start up 2-3 and see which one does best if you've got a few ideas. But, the important thing is that you think each business idea through and prepare a business plan for each. It needn't be a big document though, it could easily be covered in a single page.

Big Red Tomato Company » How to write a business plan on a page

Ps. I agree with LT. Spending money on China is far too risky at this stage. Especially when you could use Alibaba.com - The world's largest online B2B marketplace. to find a partner - but you do need an idea and remember, intellectual property is not protected to the same extent that it is in the US or in Europe.

[andi]

Have much money but young and dumb, how pity...
If you are not dumb, we could help you to start your first store without money.
For us, money is not the main problem. Your high desire in starting business is the first.
Sorry

[amazing_richell]

Be clever enough to choose a business that you will have your profits. And don't you ever trust directly to someone if you don't even your sure about it.

[hippie_wantab]

I'd stash $4k in the bank or maybe some popular shares and then brainstorm to see what business ideas you can come up with for $1k. If you lose $1k you'll know what to avoid with the second idea If you get onto something good on the other hand you'll still have the rest of the cash to boost it up.

Yep, I've got to agree with this. If you don't have personal savings for a rainy day.. the Murphy is going to come calling.

Go to your local library and pick up The Total Money Makeover by Dave Ramsey. It's not an investment book, it's more geared to people that never learned how to make money work for them and the basics of how to manage finances, savings and yes- investing.

[wend09]

I was in contact with a young entrepreneur Bilal Hafeji in lancashire, he told me some basics methods of how to use money effectively.

Never involve your self in intrest.
If you are investing always check your risks
and keep track of your money, where you spend it what you spend it on etc...