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 "Playing the stock market" is no different than gambling. Why should people gamble away their hard earn money |
"Playing the stock market" is no different than gambling. Why should people gamble away their hard earn money when American corporate executives simply line their pockets with it?
A... |
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 I am 15 years old. I have about $3,000 and I want to put it into an investment.? |
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They say they will ... |
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 How would you invest $60,000? |
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 Regarding the Enron case, was justice served with the death of Kenneth Lay by heart attack? |
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 Please help ..My item on ebay worth £300 is about to be sold for £10? |
I do i contact other buyers so they may bid higher ..please help.
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 Depositing more than 10K in a bank at once.....? |
| I know that if you deposit more than 10K at a bank at once, they will fill out some sort of form and report it to the IRS (or at least I'm told). My question is, what if I deposited $9300 on W... |
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 Is opening up a joint account with a friend a good idea? |
We plan on opening an online brokerage account and investing together.
Additional Details
We are extremely good friends and I trust him.... |
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| Iam 16 and looking to invest but my parents...? |
| well iam 16 iam ready to start investing i have so many ideas to make money but the first step is to put money in the stock market in GGS ever since oil prices started sucking there stocks dropped ... |
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 Will all who read this question send me £1 each, please? |
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| Most experts say there's an 80% chance the Fed will not raise rates tmrw. I believe the Alaska oil problem today will force the fed to raise one more time. I hope I'm wrong.... |
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evelinka420 | I'm 23 & I want to start investing with the money that I've saved so far. But I don't know how...? |
So I have some money saved (around 40k) and right now I have it sitting in a Certificate of Deposit--- it will become available in a few weeks and I want to invest at least 50% of that money. However, I am confused. Where do I go? I want a reputable company (person) to handle my money --- I worked very hard for it and sacrificed a lot in the process of saving and I want it to grow not deplete. What sort of investments should I look at? What are the fees and taxes involved in investing? i am kinda clueless when it comes to this but I understand the concept as a whole (I took a few finance classes). |
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lizzgeorge
 |
Here should be your priorities:
1. Contribute enough to your 401k to get the company match (if you're employed and if they offer one).
2. Max a Roth IRA. You can put in $4000 this year and $5000 next year. Roth's are such a great deal (because you NEVER pay taxes on them and they're super flexible) that the govn actually limits the amount of money you can put it. DO IT. You have to have earned income to do this though (research IRAs at www.fool.com--too much to explain here). Put the money in a target retirement date fund and forget it. I use Vanguard--Fidelity is a good choice too. No fees, low expense ratios, great reputations, great performance history.
3. Put enough aside in a high yield savings/money market for emergencies plus any big unusual expenses you anticipate making in the next 2 years. For instance, if you're going to buy a $30000 car in a year, keep $30000 plus emergency money in cash--don't put it in stocks. Make sure you're getting over 5%--savings accounts and money markets are paying more than CDs right now in many places. I use Vanguard Prime Money Market (5.22% in May).
4. Now that you've done the above things, you can invest outside your retirement accounts! If your goals are short term, stick with cash. For longer term goals, stick to index funds. Boring, but your BEST bet. They minimize taxes and fees, have no commissions to pay, and parallel the market returns (which most mutual funds lag even before fees are paid). |
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jkhtown07
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It all depends on your time horizon (how long you want to invest your money for), your capacity for risk, your goals, when will you need the money, etc.
www.vanguard.com has a great resource for first-time investors. There is a survey where they ask you questions such as the ones above, and then they offer you recommendations about how to invest your money to personally meet your goals/needs.
Also, right here on Yahoo!, the Finance section, click on Investing. - Check out the education pages, there is a quick brief of many basic investing strategies. I would read these just to get a working knowledge of investing, so if you do decide to seek professional help, you would not be easily confused.
From what I can tell, you have a decent chunk of money, and you are young. If you are looking to invest for the long haul - (retirement), I would put most of the money into stocks. Probably an Index fund, which you may find will be exactly what you are looking for. They historically have offered great returns, they require little to no effort/research on your part, and they are excellent long-term investments.
Should you seek financial assistance, be careful, as people in the finance profession are quick to take your money in the form of fees/commissions/etc.
A high yield (4-5%) internet savings account is a good short term solution, if you still haven't decided how to invest. Most banks now have them, but I have mine in ING Direct. Then read up a bit about the basics of investing on Yahoo, and take the vanguard survey. There are also a bunch of free advice sites on the web now. I also recommend the book - "Common sense on mutual funds", by John C. Bogle. It is not too difficult of a read, especially if you have taken some finance classes, and it will provide you with a plethora of information that will allow you to make a lot of your own decisions (and avoid having to pay a "professional" to manage (take) your money.)
I personally like Vanguard.com. They are an established, reputable company, and they offer a large amount of investing options. You can open an account with them (IRA, or Roth IRA) and put money away monthly, or yearly, or simply let your money sit and gain the interest (the vanguard 500 is a great fund).
Overall, I recommend you do a little bit of research - for someone with your penchant for saving and self-discipline, it will be in your best interests to learn a bit about investing, in order to begin to make your own decisions and choices. As aforementioned, in today's world, there are many free online sites that are wonderful resources for a young investor. |
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Joe
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You should invest in stocks, bonds, and money market funds. You want to buy a diversified portfolio of stocks, as individual stocks are too risky. For most folks this means buying mutual funds. I like Vanguard.com, other people like Fidelity, TIAA-CREF, and DFA. Buy no-load, low cost funds. If you are like most people you will invest part of your money aggressively in stock funds, and part conservatively in money market funds and bond funds. Vanguard.com has an on-line questionnaire which will give you an idea how aggressive you want to be.
If your company offers a 401K plan at work, try to invest the most you can. The money grows tax free, and some companies will match your contribution. Investing in a mutual fund IRA is also a good idea.
I like index funds. Because of their broad diversification, you are less likely to have a dramatic drop in value. They also have the lowest expenses. For stock funds, I would suggest putting ~70-80% of your money in the Vanguard Total Stock Market Index Fund. and ~20-30% in a foreign stock index fund. However, there are many different opinions out there on what the best mutual funds are. Read the links below and form your own opinion
Buying a house instead of renting will save you a lot of money in the long run. You don't have to pay rent and you build equity in your house instead.
If you have high-interest debt, like credit cards, it is best to pay this off first before trying most of the investment ideas above. You should also have 3-6 months of salary saved up as an emergency fund in a bank or money market fund before trying more risky investments.
Believing advice you get on Yahoo answers can be risky, so read these websites for further information. If you find it too confusing, contact a professional financial advisor. They will charge you significant commissions, however.
Sources:
http://www.vanguard.com/VGApp/hnw/planningeducation
http://www.dallasnews.com/sharedcontent/dws/bus/scottburns/columns/2007/vitindex.html
http://www.fool.com/school.htm
http://sec.gov/investor/pubs/assetallocation.htm
https://flagship.vanguard.com/VGApp/hnw/FundsInvQuestionnaire?cbdInitTransUrl=https%3A//flagship.vanguard.com/VGApp/hnw/planningeducation/education |
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danielgoodrich
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At your age I would consider putting it in some mutual funds with any of the brokers. One of which you have heard of (A.G Edwards, Merrill Lynch etc.)
The returns will be taxed of course but if you are truly looking to save you could take your returns and throw them into a IRA tax deffered and this would offset your tax and you are building for the future and not paying the government as well. Your principle investment should not change over the time much as well.
I wish I would have been in your position at 23.
Good Luck |
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anthony s
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First you need to figure out what are your long term goals. An investment is a vehicle that will take you where you want to go. So first you must figure out where you want to go. Why are you investing? How much money do you want to have? By what age? Are you saving for a down payment on a house? Are you investing you get enough money to start your own business? Are you investing for an early retirement? These are the kinds of questions you must sit down and ask yourself. Once you answer your own questions, you will easily find the type of investment that will take you where you want to go. |
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derobake
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You are your own best financial advisor. You simply need to learn the basics of investing. Download my free book on retirement investing. Click on my profile and read my info to get the site, or email me. |
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Robert N
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Hello, You have received some fairly good advice thus far but none really answered your question as most were generic. I am a retired banker and personally I invest through an investment club for a monthly income. In your case I suggest first get in contact with an investment club and invest $10,000.00. With the club I am in you would earn $530.00 per month profit. Next I would contact a financial advisor/planner and let him/her know that you have x amount of money that you want to start a Roth IRA and also you want VUL insurance and disability Insurance.
The reason for the investment club is obvious and that is to generate immediate monthly income to enhance what you currently earn. The VUL is a Life insurance plan that at your age if you maxed out a policy say for $250,000.00, you could eaisly be worth over a million by the time you are ready to retire especialy if you max the Roth too. These two investments could and have the potential to make you very comfortable as in the millons in the 30 years when you may want to retire.
The Disability insurance would be there for you in case of injury or severe illness. A lot of people over look this insurance and do not realize how important it is.
I would also keep at least twice your monthly expenses in a regular savings account for emergencies and any funds left after investing in the above put back into a CD. hope this helps if I can be of any further help write me at bankerbobretired@yahoo.com Have a great day!
. |
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A.Mercer
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Watch out. There are lots of scammers in here who want your money. There will be people answering giving you links to their wonderful "business" ideas.
Ok, first off. Congrats on saving that much money by the age of 23. That shows that you have some financial skills. Not many people are able to do that these days.
Do you have an emergency savings plan? Lets say that your car broke down tomorrow right after you got so sick you could not go to work right after you found out that you needed a surgery right after you found out you had lost your job. Can you pay the bills for a few months and take care of some of these expenses. The general idea is to have about 3-4 months of your net monthly salary put aside. That way, if something did happen, you could go 3-4 months without working, maybe longer if you became frugal. Set that aside first. Do not invest that money in something that will be hard to get to or that could lose investment. CDs are fine for that. You may take a bit of a hit if you need the money early but it is not too bad. If everything goes well, you will never need to touch this money. If something goes bad, then it is there. Do you want to sleep at night? Then don't put yourself into a situation where you wonder what you would do if something bad happened.
Ok. Do you have a retirement plan at work like a 401k or a 403b? Make sure you are contributing to that. If you start now, by the time you retire you will be loaded. This is without considering your $40k. Making small contributions over the next 40 years or so will make you lots of money in there. These accounts grow tax-deferred, meaning that no taxes come out until you withdraw the money.
Now, you say you want to put your money into something that will grow but protect your investment. Not too many things can do that. Those that do generally pay back at a lot lower interest rate. Normal savings, government bonds, and CDs are the main ones here. A money market fund is going to pay around 4-5% but there is a chance that your money can go down instead of up. Plus the interest rate can change as well.
Tell you what, there is no answer here. You are going to need to do some serious research before you can proceed. Leave the money in the CDs for awhile and do some learning. What you need to do is go to the book store and spend some money on either The Idiots Guide to Personal Finance or Personal Finance for Dummies or both. These books are pretty good at laying down the basics. From these you can find other books to read. Also, Yahoo, MSN Money, Motley Fool, and Bankrate have lots of articles on all sorts of different areas of personal finance. |
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rickg155
 |
Evelinka,
I'm 26, and am in a pretty similar situation financially.
I opened up a brokerage account with schwab and put all my money in there (though any of the other companies, like fidelity or smith barney, would be the same type of thing).
I put some of it into bonds, some of it into mutual funds, and some into a money market. Most of them have fees around 1-1.5%. You don't pay any taxes (except on dividends) unless you sell things, and then the tax rate is anywhere from 15%-35% depending on how long you held the stock/fund for, and your income bracket.
In 6 months I've self-taught myself a lot about it, so I've tailored my portfolio around what I've learned. But if you don't have the time to do that, there are templates which basically tell you how to distribute your money effectively. Or you can also talk to reps once you open an account.
Since you're young like me, I'd guess you're fairly computer literate. I did all of my investing through the schwab website -- transferring money in, buying/selling, etc. It was quite easy. |
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heavenseyes98
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I don't know much about it either to be honest, however our banker suggested when we do start to save money that a Roth IRA is a good one. Hopefully you will get several answers and you can compare them all and research them or talk to your banker.
Good Luck |
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Easy Peasy
|
For impartial advice try the
http://www.fool.com
website |
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Buzzy
|
You're young, so I suggest investing in an international mutual fund, who, in turn, invests in companies all over the world, ie: China , Europe, So. America.
Open an account with either Chas Schwab, Vanguard, or Fidelity. They are all top notch and will guide you. Rely on their professional management to select the stocks within their respective mutual funds.
If you have a retirement plan such as an IRA or Keogh, there are no taxes until you retire and start to take money out of the fund. Expenses are minimal with these companies and your money is secure as can be. If you don't have a retirement plan, do IT FIRST! |
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Sandi Lansing
|
There are several good answers here, so I don't have much new to add. I would just second the answers that recommend Vanguard.com and investing in index funds. The principal behind an index fund is that you will do as well as the market overall is doing without gambling that you can pick a fund that will beat the market. Trying to beat the market carries quite a lot more risk. There is also some risk in being too conservative, so your idea to move some money out of the CD is wise. Index funds are also the least expensive way to invest in the stock market.
There are reputable people at reputable companies who can help you with investing, but the commissions are expensive and the funds recommended by professionals often carry higher on-going expenses. The fact that you've taken some finance classes and saved a substantial amount of money already is a good indication that you have the ability to direct your own investments. Park the portion of your money that you want to invest in a very simple, broad index fund - like Vanguard's Total Stock Market - and keep studying. If you read John Bogle's book, chances are you'll decide to leave your money in an index fund even after you've learned quite a lot. |
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Machiavelo
 |
Just open a high yield savings account, HSBC or ING Direct. |
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ford_rebel89
 |
I would strongly suggest going in to an investment firm, or something like that. Go somewhere you know and trust someone, and they will help you out with whatever you want to do - low or high risk. What my wife and I did, is put a bunch of money into a CD at a bank which is what you already have yours in. With the amount you have, you could make a lot more. Just leave it in there, shop around for some of the better interest rates. That's probably the best way to ensure you don't LOSE money in the process. Anything else you do could potentially cost you money. But if you are looking for higher risk stuff, then go to an Edward Jones investment bank, or some place similar, and let them know your scenario. They'll be more than happy to help. |
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Steve
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go to your local credit union.
they should offer investment services at lower costs then say JPMorgan or a Smith Barney investment firm and in most cases its the same product. they will give you no cost, obligation free consultations and set you in something that will do what you want it too.
ask about low risk and no risk investments. in most cases if you want a good return on your money you need to take some risk... no risk items are savings and CD's and a very very very low number of investment products. |
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idratherbsurfing
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mutual funds. 500. minimum first . Start your retirement asap. even though you are 23.
With the market and with the stocks Things change.! For the guy who keeps up with it very well and is a friend of mine his name is Rob Black. Look him up online.He knows his stuff. He wont mess around.
signed,
Penny V. |
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Ryan M
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Go to scottrade.com and invest in ETFs. They are like mutual funds but trade like stocks. Unlike regular mutual funds you only pay taxes when you sell the "stock". Google "ETF and Stocks" for more info. |
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toofunky29
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Mutual funds will do.Depending what your goal is- you can open non-registered mf if you want your money make more money in short term OR registered RSP MF if you want to invest for your retirement.Try to find a bank who offers non-load MF -this way you won't pay commission. |
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