While saving isn't a bad answer per se, at the end of the day there are better ways to invest $1,000. Whether it is your first time investing $1,000, you just got your tax refund, or you are simply looking to invest $1,000 every month.
If you haven’t got one already, a 401(k) retirement plan is one of the best ways to invest $1,000 especially as you could literally double your money (more on this in a second).
Like a 401(k) plan, IRAs are tax advantaged, meaning you can pay into one before tax has been deducted. However, because an IRA isn’t sponsored by your employer, you won’t benefit from any matching.
Robinhood really shines is that it is a commission free platform. That means you can trade for free, with every dollar saved on commissions effectively an extra one in your pocket.
Robo-advisors are algorithm-driven digital platforms that use information you provide them to make investment decisions on your behalf.