 Best investment...need advice? |
Hi,
I have $20,000 in my bank account. I'm looking for the best way to keep the money I already have, and also make some money off of it. I was hoping to be able to make at least ... |
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 To the people who Know about money....HELP!? |
ok so i have saved 3grand in the bank...its in a savings account... how can i make this money grow by minumum 25% in one year???
Additional Details
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Blink-Monkey-Blink | I have like 5 grand to invest.? |
can be long and short term. I dont really want to play the stock markets because i dont know what im doing.
any ideas
and no I wont give it to you lol |
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Lady Faversham
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Northern Rock have a good account that is higher than 5% and you can have instant access as well - put it in there and then think about doing what the answer below says!
You could also invest in an ISA - get some advice from an independent financial adviser - you can get it for free - at your bank - or look on mortgage express customer website - where it says find an ifa. |
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♥Pink Princess♥
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how bout investing in me ;D |
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jduck1979
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the first thing I'd suggest is paying a visit to leading financial website THE MOTLEY FOOL, who have one of the best pages on the internet for those wanting to learn how to invest but find the usual sources nearly sends them to sleep (including a very good article on how to profit from shares):
http://www.fool.co.uk/investments/investments.aspx
If you want to get a clue what you're doing with the stockmarket, check out this article:
http://www.fool.co.uk/school/2006/sch060130.htm
Then practise for a couple of months on the UK fantasy stockmarket game at http://www.bullbearings.co.uk
If after that you feel like you can tackle playing the UK stockmarket afterall (and it's actually alot easier than it looks), then the HALIFAX SHAREBUILDER account (licensed from the US original Sharebuilder.com) is a very beginner friendly way to start investing in shares.
http://www.halifax.co.uk/sharedealing/sharebuilder.asp
If the stockmarket still doesn't appeal, then I'd recommend the online "social lending" exchange called "ZOPA" which was set up by the founder of EGG + a few other escapees from major financial institutions in order to allow people to lend & borrow money at interest rates they choose. In addition to earning interest on the money you lend out, they also pay you £30 for each new sign-up you get that lends out £500 or more, or takes out a loan there (they also get £30 as well).
http://www.zopa.com/ZopaWeb/affiliate/?referral=duck1979
Here's the 2 articles where I first learned about it:
http://www.fool.co.uk/news/your-money/loans/2005/09/16/how-to-borrow-cheaply-become-a-bank.aspx
http://www.fool.co.uk/news/comment/2006/c060406d.htm
If that doesn't appeal either, you'd probably be best off just sticking with a good old fashioned savings account
http://www.fool.co.uk/savings/compare-savings-accounts.aspx |
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Sara b
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Invest in an index fund where the risk is spread out over many stocks & industries yet makes on average good but stable returns. Remember stay for the long haul no matter what you invest in. Index fund follow the bulk or all of the stock market & on average get about 6%-8% much better then a savings, bond, or money market account. The index fund I have was up 12% the last 3 years & still up 7% this year even with the ups & downs. Get that from a money market or savings account. |
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Ronin
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Put it in an online bank for now until you find out what you want to do with it. HSBC is paying over 5%. ING is close to that. Maybe a stock mutual fund. It's not a lot of money so your options are limited. |
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Damon W
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If your interested in entertainment, music, concerts...i am organizing a concert tour right now and am looking for an investor to come in and invest about $5k for some upfront fees for it. You can easily see a 5-10% return on it in as little as 45 days. If your interested let me know! |
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bpeter3196
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I second Sara B cd's tend to tie your money up for x amount of time so do bonds both of which pay higher then a savings account but not as good usually as the market. Also index funds or even matual funds you don't have to be a rocket engineer or understand to still benefit from. Again think longer term. Mutual funds at least pay dividends also helping your investment grow that way also. Compounding is wonderful too. |
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none
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Invest in education, the return is unlimited
http://www.sinardy.info/MyMentors.php
If you invested 5,000 in Microsoft share 1986
today you have more than 1.5 millions dollar
invest in education... |
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The_Informer
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Go to your bank and ask them?
ISA's are good for a year.
But the best way is by buying utilities shares, have them for so many month's and then sell them |
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x
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5 Grand is not a very large sum of money, I'm afraid so you are not going to get a large return "quickly" for your investments.
My self, I would go to Mutual Funds for the long term investments.
If you have a job, look into a deferred Comp where you can keep the money in until 59.5 years old, then take it all out, or, when you retire, you can slowly "drawl down" on it until your 59.5 years old.
IRAs or other things like that are good, and you can add to that sum, instead of just letting it set there and try to grow by itself.
I wish you well...
Jesse |
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Franco
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Congratulations dude. But is it dollars,pounds, yen or confetti money? |
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kingl
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www.assettinvestments.com have proven to be quite good for me as an alternative investment. |
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Hoodoo
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They say invest it in something that everyone wants....property.
Five grand may get you a 3ft x 3ft plot of land. You want something that is definate its value will increase. Sorry can't help you in that! |
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Kenny
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Look at Money Market funds, CD's, and I-bonds. |
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