 How do i invest $30,000 for 6 months - year? |
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muzza | Investing money for my 2 little boys? |
Hi, I want to invest $4000.00 or $5000.00, if i have too, for my children. There grandfather passed away and has left them $2000.00 each which i will invest as a total lump sum for them both, I will be leaving it in there untill they are 21. So can anyone tell me where i should invest it to get the best return?
Additional Details
I dont really know anything about investments....
They are 3 and 6 yrs old... |
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muncie birder
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I can not tell you where to get the best returns, and I would be suspicious of anyone else who said they could. Mutual funds and index funds in my opinion are your best options. They provide diversity which protects you against specific risk.
Opinion will be greatly divided on which mutual fund or index fund would be best.
My personal preference would be for a broad based equity fund that invests world wide. There are many you can choose from but none are what I would consider ideal diversification because none represent the world markets, which is what would be ideal, about 33% U S stocks and 67% foreign stocks. Don't know why there is not one. Maybe there is but I am not aware of it. An index fund that comes close is DOL, but it does not have any U S companies.
http://www.etfconnect.com/select/fundpages/etf_funds.asp?MFID=162616
Another of the same type is ADRD, pretty much the same as DOL.
http://www.etfconnect.com/select/fundpages/etf_funds.asp?MFID=103152
T. Rowe Price has one similar--PIEQX
http://www.troweprice.com/common/indexFundFacts/0,0,ticker=PIEQX,00.html?scn=Moderate_Risk/Return&rfpgid=7143
Another T. Rowe Price offering that is non-indexed is PRGSX. This fund is currently about 40% U S stock which is not too bad.
http://www.troweprice.com/common/indexFundFacts/0,0,ticker=PRGSX,00.html?scn=Moderate_Risk/Return&rfpgid=7143
Fidelity has a similar fund FWWFX
http://personal.fidelity.com/products/funds/mfl_frame.shtml?315910505
With only about $2000 you have sufficient for only one fund. Once you reach $4000 then you can split your funds and invest in a second fund. That helps your diversity. |
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accoaxum1023
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With that amount I would, personally, think of some stocks and maybe an IRA or a CD to reinvest at the end of it. I am just thinking of investing some here and there to make the money grow and then do more with it when you get the interest and stuff. |
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T_Bone
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Talk to a financial advisor! |
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eshie
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WOW, I am sorry, some people on here give wrong answers or try to promote there own business. First of all, DO NOT put money into a retirement account for your kids!!! They wont be able to touch the money until they are 59 ½ years old.
There are a lot of accounts that you will be able to put that money into. If you are trying to save for there college, you can use a 529 plan. The good thing about a 529 plan is that the money that you make in the market is not taxed when you take it out. The biggest downfall to a 529 plan is that if they do not use the money for college, there is a 10% penalty and you will have to pay the capital gains tax.
You would also be able to set up an account under the UTGMA (uniform transfer gift to minors act) or UGMA (uniform gift to minors act). This would allow you to put money away for you children and they will be able to access the funds when they hit a certain age (18 to 21). Some people like to have this type of account because there children will not be able to “blow the money on dumb things when they are young”…as one client told me.
You can put money into a standard savings account / Cash management account (to buy CD’s, bonds and stocks) but you will not be able to put the age lock on the account.
Something to buy inside the UTGMA, UGMA or 529….could be any index fund (markets have always shown gains over a long period), a value stock, or a no coupon bond (matures on a set date). I would let it sit in the S&P 500, Russell 2000 (small cap index for the long period) or something along those lines.
I hoped that helped |
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Sheoak007
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Hi what a great Mum,
All I can say about investing for the future is - buy some real estate
- find a block of land, anywhere on the edge of town- countryside cheap but able to be well serviced. Power & water phone etc.
The area will develop in time and you will be able to either improve the landscaping (get the kids to plant trees), paddock a pony!, build or settle there or sell if necessary. It is an asset to borrow against too!
Buy land - and enjoy your boys as they grow strong and healthy.
God Bless |
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Randall
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Split it between gold bullion coins and an S&P 500 index fund with the lowest operating expenses you can find. |
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Arnold
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You could put them into a 529 college fund or a Roth IRA(Individual Retirement Account). A Roth is very good for tax purposed. Edward Jones is very affordable and they work mostly with long term investments. If you have any questions, email me. |
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Kolleen Emerald
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I have found ING profound NO FEES they link with your bank so very little information is required its easy and the interest rates are ...very compatable with variable banks also interest is added monthly so it compounds...okey doke http://www.ingdirect.com
Regards Kol |
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Clauzilla
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Pork Bellies.
I Kid... It's just so much fun typing "Pork Bellies."
I hear something called "dot com" companies are all the rage down on Wall St. |
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Frank Castle
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I suggest you to open a brokerage account at Zecco and invest in the ETF DIA and they will have enough for Harvard. |
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