# data[].attributes.body
My rich uncle surprised me with $10,000! I am free to do with it as I wish, and the only requirement is that I must save or invest all of it- I can't use any of it to buy dinner tonight!

Let's assume I have 6 months of all my expenses saved up. Here is how I am going to save and invest my $10,000!

I currently have a checking account for the first level of investment, so I am not skipping any steps!

I am never going to reach the 5th stage of investment, Speculative Investment, because unless I win the lottery I am unlikely to have enough disposable income that I can invest and not worry if I lose the money.

# data[].attributes.attachment_caption
I want to buy a car in the next 3 years.

# data[].attributes.body
Since this is the first purchase I will make, I have less time to make the money work for me. Therefore, I will have to start with more money. I plan to save enough money for a car by starting a CD account with $5,000 of my $10,000. The top rates for a 3 year CD account is between 4.35% and 5.35% APY. With one of these rates, I can reach almost $6,000 in the 3 year time period. With the little money I had already started saving for a car, I will be ready to buy my first used car!

I am in the second stage of investing; Beginning to Invest. I have opened a CD account, which is a low risk and accessible way to save and invest. I will use this stage as my first step into the investing world, as a low pressure way to make my money work for me.

The type of saving and investing tool I am using in this scenario is a CD account. A CD account is an account where a certain sum of money (one time deposit) is held for a length of time specified in a contract. Interest is earned on the money being held in the CD account, and a CD account is considered a low-risk way to invest. If a CD is purchased through a federally insured bank, the FDIC will insure your CD for up to $250,000.

# data[].attributes.body
When I was born, my parents started a 529 plan for me. At the time, we lived in Utah. When we moved to Virginia, they rolled the money over and it became a Virginia529 plan. According to Virginia law, anyone can contribute to a 529 plan... even the beneficiary. However, only the owners (my parents) receive the state income tax deduction. I plan to put $2,000 dollars of my $10,000 into my Virginia529 plan, in addition to putting in some of my paycheck. It will be practice for paying student loans!

I am in the third stage of investing; Systematic Investing. This is when I have the need for longer term investments with higher returns. I will use this stage to help work on my understanding of slightly riskier investments.

The saving/investing tool I used in the scenario was a 529 account. 529 accounts are medium risk. The money is not insure by the government, nor is it backed by the state. There is a type of account insured by the FDIC, but there is no automatic coverage- you have to choose this plan. The amount of interest it earns is not set, and will fluctuate based on market conditions. It is possible to lose money by investing in a 529 account! However, my parents believed the benefits were greater than the risks, so I will support their decision.

# data[].attributes.body
In order to save for retirement, I plan to put $2,000 dollars into starting a Roth IRA account. As a young person, I am lower in the tax bracket which means I wouldn't benefit as much from tax-deductible contributions like a traditional IRA. With my initial deposit of $2,000, I would continue to add more after tax dollars with each paycheck once I get a job- even if it's only a little bit. After all, a little money over a long period of time often gets farther than a lot of money all at once!

I am in the third stage of investing; Systematic Investing. This is a VERY long term investment, and I would like it to have high returns. Within the terms of a Roth IRA I can diversify my investments (stocks/bonds), and I will eventually invest a portion of each paycheck. I chose to use a type of IRA instead of a 401K plan because I don't have a stable place of employment as a high schooler.

The saving/investing tool used in this scenario was a Roth IRA. A Roth IRA account is medium risk, because it is possible to lose money. The FDIC will insure (up to $250,000) all deposits made into the account, however they do not insure any investments. Therefore, you could get some of your money back, but not all.

# data[].attributes.attachment_caption
Invest in the stock market in the next 30 years.

# data[].attributes.body
Before I turn 50, I want to invest in the stock market. I am intimidated by the stock market, so a goal of mine is to invest in it. With the remaining $1,000 of the original $10,000, I will invest in the stock market. I will need to hire a financial planner/investment advisor to help me with this decision as I know I will not be confident enough on my own. I know this goal doesn't have a huge purchase or sense of well-being at the end, but it is a long term goal of mine.

I am in the fourth stage of investing; Strategic Investing. Investing in the stock market is strategic, and I am looking to diversify my financial portfolio even further.

The saving/investing tool used in this scenario was a financial planner/insurance advisor. There is always risk in this decision, because the stock market fluctuates and if the stock market crashes you will lose your money. Even if the market is doing well, you can still fail because the stock you chose to invest in isn't doing well. Although a financial planner can help you make these decisions, there is still a good amount of risk whenever the stock market is involved.