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tannerday225 | I have $15,000 dollars and want to invest, where is best and..? |
hey guys i got a 15 grand settle ment or around that much and am 18 years old.. I dont wanna blow it on something stupid like most other kids would do. I want to invest as a job maybe and im wondering if this could be a good starting point. Is this enough to start doing it as a job and if it is where? Or what else could i do with it to make alot of money with it.. Just want to pay the bills.. better than being a secretary like i am right now.. Any ideas?
Additional Details
K i have no debt either and already have 1000 saved. I want to make a job out of this 15,000. That possible.. like buying and selling stocks, ect... How did warren buffet do it? Did he just start buying and selling? |
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john carlo
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Invest. It's a good start. As your money grows and you continue to invest you'll be able to afford all the things you want. Eighteen is a great age to begin.
Put some in a mutual fund. Educate yourself at http://www/vanguard.com) or other fine sites. Do a search on Google. Look for low cost and no load.
Put a couple months wages in a bank account for emergencies.
And spend a little once-in-a-while. With a solid investment plan you won't live paycheck to paycheck.
Start early; invest regularly. Good luck |
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Kevin C
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ok, here's what you should do.
1) set aside 1000 to 1500 to have fun with, unless you have some major debt going on.
2) put 1000 in a savings account. This will be an emergency fund for things like the starter going out on your car, a/c breaking in your house in the middle of the summer, etc
3) Pay off any debt you have, other than mortgage.
4) Increase that 1000 from step 2 to about 6 months living expenses.
if you can do all that with the 15k, then you are already in better shape than 95% of America
5) if you are going to college or will be soon, save the rest in short term things like CD's or a Money Market account and avoid going into debt with student loans
6) if you don't need the money for college, then invest the rest in a Roth IRA. I would recommend using Janus and going with their Total Stock Market index (vtsmx) |
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Billy B
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If that were my $15,000 I would put
10% of that into an account where I couldn't touch
Thats for sure!
Also, if you're looking to make a job out of that, you could do so very easily and very inexpensive. I don't know if you have already heard of network marketing or not but what you do is invest your money into the business and receive the opportunity to earn an unlimited amount. The tax benefits that come with having your own business is incredible!
Theres businesses that require a $15,000 fee to begin. Theres businesses that require $2,500 or $1000. I actually found a brand new company that allows people to join for only $200! No other network business out there can offer what we have.
I know it sounds like a sales pitch, its not. But investing only $200 could take you a long, long way my friend. And I'm only adding my opinion so you can do whatever you wish with that money.
You sound like a smart guy so I know you won't blow it. But remember to save 10% of everything you ever make or receive. It's important. |
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Doc9999
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Diversity is the key.
Put some in to this.
9,000% in 10 months doing nothing.
In this crisis year, 1000% in 1 year automatically!
http://automaticforextrading.blogspot.com |
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tmac5445
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The smartest thing for you to do is sock that 15K in a Individual Retirement Account (IRA). I know its early but this really helps. If you put that 15K in ur IRA and put it in a mutual fund that earned 8.5% year you would have, $392,000 by the time ur ready for retirement at age 55. Its early but you will look back on it and say it was the best financial decision you have made. Hope you take my advice! |
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jpocia03
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Is this enough to start doing it as a job and if it is where?
$15,000, won't get you that far if you are looking to use this money as a way of life. In order to make money within the market (without losing it all), is to have roughly $300,000 or so. With these funds you can spread the risk out a bit more than with your $15,000.
Or what else could i do with it to make alot of money with it.. Just want to pay the bills.. better than being a secretary like i am right now.. Any ideas?
Start looking at contributing for your future financial needs. The things you need to consider is if in fact you are looking to make any big time purchases within the next 3-5 years. If you are considering needing some of the monies, then it is best to take that amount and place it within a semi-liquid investment. Something like a money market account or a short-term cd, would make sense.
With the remaining amount, you'll want to look at some tax deferred investments. I would take some of the monies and place it within a ROTH IRA. These monies will grow tax-free at the time you'll start needing it.
I would then possibly look at getting some type of whole life insurance. Granted if you are still within good health. At your age, and assuming your health is good, your premiums should be low. The cash value within the policy will also grow tax-free, when you will start to use it.
The bottom line, is make sure that your employment future looks relatively sound. If in fact there are big changes you are looking to make in the short-term, then I would just as well keep the monies in the bank for anticipated short-falls.
What you need to understand is that when investing cash, it's the time within the market that matters the most. It's not the risk associated with it, but one can argue that point. So the sooner you can get it to start working for you, the better.
Try contacting Vanguard, and speak with a representative about the ROTH IRA account. Then speak with them about the recommendations they would have regarding some mutual fund investments. Remember, don't go hog wild and put it all in there. Also, don't watch it each and every day your stomach will turn.
If you should have any additional questions let me know. |
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Teja
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I would recommend "green" stocks. The enviromental friendlys. I recently invested into solar panels and biodegradable fuel stocks and they are looking hot. Tickers are FTEK and GU, plus they are not that expensive but on the rise, good time to jump in. |
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Ron
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If you still have your $15k, you may want to find a decent stock to invest in. I have some money in CDs right now, and the interest is horrible.
It all depends on your income goals, but you may want to take a small portion of your nestegg (say about $3,000) and place in a speculative trade. By speculative I mean something on the OTCBB or Pinksheets--also known as penny stocks.
Now I know these aren't for everyone, and would not recommend you bet the farm on a penny stock.They are very volatile and you have to carefully research your company before getting involved. The best place I have found for information on penny stocks is at investorshub.com. This is a very active message board, with tons of ideas.
When researching your stock, look for indicators such as current financial filings, and a working revenue generator. A lot of penny stocks aren't built on dreams and never get around to actually making money. Check out the sites below for more research ideas. |
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