 How do i become a millionare in 20 years? |
im 20 years old in the army and want to invest/save my money so that when i retire from the army im a millionare or close to it just wondering if its possible and if so how
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Andy | I have some money to invest, I am told now is a good time to invest in banks....? |
is that good advice? What happens to shares that I buy in a bank in the event of a bank getting nationalised or bought over...
Thanks in advance for your replies. |
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enoriverbend
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Banks are a tempting but risky investment right now. There is a question about the stability of some, but overall the bank stocks are remarkably cheap and nearly all will make you money in the long term (not, however, in the short term.)
So the two ways to handle the risk vs reward balancing act are either (a) only invest in banks where you have researched them and found a high level of adequate capital resources and relatively little further risk in their investments (i.e., check their balance sheets carefully), or (b) diversify by investing in a diversified fund or ETF. I particularly like the SPDR KBW Regional Banking ETF (KRE) right now.
But in any event, put only a fraction of your net worth into banks, and only if you intend to hold the investment for the long term.
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Darren B
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Contrary to some comments investing in a bank at this time is probably good (probably as any investment in shares can go down as well as up!)
The failures of Banks like Northern Rock are quite simple to identify - they paid 6 or 7 percent on the savings balance when they themselves would borrow money from other financial instituation at 5 percent (LIBOR). Why did they do that, quite simply to 'Buy' customers and would bridge the deficit by selling their other products (home insurance, life insurance, mortgages etc). The business model was flawed, go for a top 4 bank, do plenty of research looking at their annual accounts - special attention should be paid to their gearing ratio (seek advice from a financial advisor or accountant to explain).
Banks like Barclays own the majority of their buildings (branches) so have a lot of assets, again small players lease them.
If I was going to invest 'Banks' would be a safe bet albeit the bad publicity they have received lately. Consumer confidence is low which has driven down their share value but the bottom line is the huge profits that they have made over the past 10 years + will return which will drive back up the share price - they have not become bad businesses overnight |
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Eddy T
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Keep away from investing in those banks that are getting nationalised. Their shares will be delisted and you will lose most of it. However, Barclays and HSBC are good buys. |
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BRIAN S
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You will see an increase in Lloyds TSB and HBOS if you are prepared to wait.
Lloyds will buy HBOS shares if and when shareholders approve. They have offered 60 Lloyds shares for every 100 HBOS. At today's price (102p) you could see a quick profit. |
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hopeless
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at first- dude, its not the high time to get in to bank stocks atleast,
2nd- how would you know surly tht the bank shares you bought it wont gonna be Bankrupt??? the authority(GOVT) may not take it over!!! like Lehman Bros.... the FED helped only AIG at the same time when LEH was sinking...
so nothing is predictable buddy... i would suggest you to hold on where you are... n wait untill the market become stable...or bottom out.... |
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perfectly_dark007
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depends mate its a risky time, the bank you invest in might fold, as many already have. if i was you id invest in a more stable yet underpriced stock. how are resource stocks where you are? |
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One
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Is depends on how much is some. I've got a friend investing into banks for the last 6 months. But she's doing that in sets of $10k. The total is about 500k I think. Using dollar cost averaging, her net is positive 10-20%. And she's not only buying banks but also other crashing stuff like energy. But take the advice from the rest. The market is not stable. If you dun have a lot sit tight and wait for a more predictable time. |
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ultrajones
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Do yourself a HUGE favor. Do A LOT more homework than asking this question on Yahoo Answers. That said. I hope you at least get a pointer or two. Personally, I would find, research, and invest in a great solar power company. Wave of the future. |
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alexinscarborough
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Buy Gold.
Keep it at home and watch your investment rise and rise without being taxed every year. |
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opel
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I've heard that the Northern Rock had to drop its interest rates for their savings accounts as once it was nationalised people were scrambling to deposit there!
A little different from when people were queueing all night to get their money out!
As far as investments go, property is still my best bet.
Buy at the right time and watch your investment build.
Since records began, property has doubled in value every 8 years even during the crash of the 90's.
So banks - no, property - yes
But as been stated before - do a load of research before investing
regards
Shaun
http://fractionalinvestmentpropertypension.pkp7.com/ |
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Utkarsh G
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No ways this is the worst ever time to invest in banks. Wait for some time to invest money anywhere, once the markets stables then invest in banks. |
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xXx nic tip xXx
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u can invest it into my bank account if ya wanna!!!! |
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