6 financial advisers and pros answer one question: ‘If a client came to you with $ 1,000 to invest right now, what would you tell them to do with it?’

Imagine this: You’ve got $ 1,000 to invest, but you don’t know exactly what to do with it. We asked six financial advisers what they’d do if a client came to them with $ 1,000 – here’s what they advise. (You can use this tool to get matched with a financial adviser who may meet your needs.)

Purchase I-bonds – Bruce Tyson, wealth adviser at Morton Wealth

“US Treasury I-Bonds are perfect for investors with less than $ 10,000 to invest. They’re purchased directly from the US Treasury via the TreasuryDirect link, they’re safe and high yield. The yield is connected to the inflation rate, currently the bond pays 9.62% and will do so through October 2022. Then a new rate will be set, as rates reset every six months, corresponding to the inflation rate at the time, ”says Tyson .

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Buy the dips via dollar cost averaging – Mark Peter Davis, managing partner at Interpay, a New York-based venture capital firm

“First, start buying the public markets. To make money, you need to be a contrarian, otherwise it’s rather difficult to buy low and sell high. Buying into a falling market is a bit scary because it’s almost impossible to know when the market is going to bottom out. The way to buy into the dip into a falling market is a little at a time. This method, called dollar-cost-average, should give you exposure to the falling price of the market. For example, maybe this investor would want to invest $ 30 into the S & P every week for the next 50 weeks, “says Davis.

Pay down debt and build up savings – Brendan MULLOOLY, certified financial planner at MULLOOLY Asset Management, Inc.

“Prior to investing in anything, they should make sure their personal balance sheet is in order. Paying down high interest rate consumer debt and creating an emergency fund are boring, but absolutely necessary steps that precede investment decisions, “says MULLOOLY.

You can use this tool to get matched with a financial advisor who may meet your needs.

Avoid the temptation to think short-term – Elliot Dole, certified financial planner at Buckingham Strategic Wealth

“Avoid the temptation to think short term. Many investors see world events and may second guess staying with a solid long term allocation. Some of the best long term opportunities may be in the scariest investments. How scary was buying the S & P 500 when it bottomed in 2009 when the period decade had brought only negative returns? Allocating an incremental $ 1,000 or even $ 1,000,000 according to a tailored, well-thought-out long-term investment policy statement helps reduce behavioral traps and helps bring the best long-term results, ”says Dole.

Think outside of the investing box – Brent Weiss, certified financial planner at Facet Wealth

“I would ask my client what area of their life needs an investment. When we deal with money, we tend to be a bit myopic in our approach. This is not anyone’s fault, the financial services industry has emphasized investing as people are trained to think, ‘I have extra money so I should probably invest it. ” Investing may be the right answer, but I like to help my clients explore what matters to them and then guide them to the right answer. Some options include investing in your personal growth, investing in your health and wellness, investing in education and investing for financial independence. $ 1,000 may be a great way to kickstart an education savings account for new parents or it could be a nice addition to an existing education savings account. Investing broadly using low-cost exchange-traded funds is always my go-to solution for clients. However, for smaller amounts it may not be a bad idea if there’s a little investment they want to make in a particular company. Smaller bets can help you stay the course and your broader investment strategy, “says Weiss.

Focus on diversified, long-term, solid investments – Gabe Krajicek, CEO of Kasaka, a fintech that provides community banks with financial products and services

“If you’re interested in the stock market, focus on diversified, long-term, solid investments that you believe in. If you trust and believe in the brand, you’re more likely to hold onto it and support it. That said, do not rely on emotions. Make choices for long-term investing by evaluating the company, not the ticker. Build up positions gradually, keep your investment costs low and avoid over-trading, “says Krajicek.

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