Ok, so about a year ago my uncle, whom I hate, gave me enough money to pay for me to complete my education. Naturally, he didn't give me enough money to pay for books or for living, but rather, to just cover tuition for the rest of my courses, plus a little extra in case I need to retake one or two.
Now, my mom is going to Montreal for a conference in August, which is when Montreal is famous for its sometimes scorching heat. Anyways, the city is also famous for its fashion, and my mom loves fashion. So, I want to be able to give her a couple thousand to spend on shopping, because I know she would never spend that money on herself while she is there.
This is where the debate comes in. You see, I have enough money sitting in this account to buy quite a lot of a penny stock, which would hopefully then grow by about 40 cents and earn me a couple thousand easily. The only issue is that I could also loose all the money, or a portion of it, and that would put me between a financial rock and a hard place... Usually I like hard places, but not in this situation.
This isn't just about the trip though, I really wish I could help my family out a little more financially than I can, and this would be the perfect way to give my mom a well deserved gift. I'm SO torn !
I have a couple of stocks that I like, they are in growing sectors, mostly energy and fuel companies, and they trade at least 20,000 shares a day. This means that they can increase rapidly and therefore have quick rewards. These shares have barely fallen in the last couple years, rather they have had rising trends. However, stocks like this, when they do fall, tend to fall quite quickly and badly.
I have no idea what to do. I want to start soon and open a trading account online, if and when I decide to go through with the plan. Argh, this is just SO confusing. On the one hand, I really could benefit from this investment and thrive. On the other, I could loose money and not have enough to finish my education.
Hrmm. Darn Decisions.
Tuesday, May 16, 2006
To Invest or Not To Invest
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2 comments:
I think you should give the money to your mom.
There is always "THE" investment, if you don't invest in this one, another one will come along shortly.
I think you should spend the money on what it was given to you for. Study. After that you'll have all the money to spend as you like, but lose this - and you're screwed. And not in a nice way.
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