 What is the best way to invest my money? |
| I am twenty seven and would like to start investing. I have only $2,000 saved but am able to add more each paycheck since most of my other bills are now paid off. How should I invest to earn more. ... |
|
 I am new to share market.Kindly give some name of the site where I can find some ideas to start trading.? |
| If anyone can give their views and ideas about trading will be helpful. What are the online newspapers gives best idea about share market. (Both Indian and American company shares)... |
|
 Anyone who are Forex Traders? |
| Those of you who activily trade the Forex. What trading software and charting do you, use? Any complaints or comments. I am not yet paper trading, but will soon.. I would like some feed back. T... |
|
 When are we going to see the market hit bottom? |
| It seems like the market keeps going lower and lower every day with no end in sight. Any one have a clue, predictions?... |
|
 Where do Venture Capitalists get their money? |
| I'm researching the VC community and am interested in any sites that detail how the market works - ... |
|
 What is better-Mejiers, K-mart, Target, or Wal-Mart? |
| I want to know this so I can tell my dad to go there more often.... |
|
 Where can I buy a..........? |
| recordable CD player? I live in England, how much do they cost and were can I buy one?... |
|
 When will the next stock market bull run begin? |
I reckon September 2010
Additional Details
Sorry, I mean Sept 2009. We will have seen the worst of the credit crunch and housing market downturn by then who agrees?... |
|
 Will gold go to 3000 dollars? |
| there is no way for the fed to raise interest rates anytime soon, and the dollar is in a free fall.... |
|
 Hi guys,i want to start to invest in stock market.? |
| i want to start investing in stock market and i dont have commerce background.and i have very little idea about stock.can anybody help me how to learn to invest in stock market and where to start ?... |
|
 I'm interested in investing in the stock market.Where do I start and how do I go about it? |
| Where and how do i get started in investing in the stock market and which stocks are the best to invest in?... |
|
 Can you major in Investing? |
| Is it possible to receive a degree in investing, or even a minor of sorts? And what would I have to do in order to get a job doing this type of work at a company? Thanks once again for y'alls ... |
|
 Is that true we can earn money through forex investment? |
| My brother in law didn't work for 2 years and he is now doing the forex investment for 2 years, but until now he still didn't earn any money, but he said he will earn a lot after he found a ... |
|
|  |
BettyBoo | Ok i have 26,000 in 401k and 11,000 in an IRA, I maxed out my 401k and IRA already this yr, 200 more to invest |
i have an extra 200 a month to invest, since i maxed out my 401k and ira this year already, and i have a house with a 200,000 mortgage, i put 100 extra a month to my mortgage principal, where should i put the extra 200, i would like to invest it somewhere so i can retire early, i am 27 years old now, married with no kids, my income is only 34,000 a yr, not much but i have managed to have 30,000 in CDs for emergencies and for when I do have kids, what do you think I should do? My income will not increase as I have pretty much maxed out at my customer service job. help I do not want to work for longer than I have to, what amount do you think I would need to retire early? |
 |
 
Dave W
 |
First. let me say that I think you're doing well to have saved what you have at your age on a $34,000 salary. Having an emergency fund in CDs is good.
Regarding the 401k, are you sure that you've maxed out on that? The government limit is $15,500 this year, so unless your company has a relatively low limit on the percentage you can save, you can probably do more with the 401k.
You didn't say what kind of income your spouse has. If you qualify, did you put the IRA money in a Roth IRA? That's what I'd do. Even though the contribution to a regular IRA is deductible (depending on your combined income), you seem to have good saving and investing habits, so you might well have a higher tax rate in retirement than you do now, so if it were me, I'd rather pay the taxes now at low rates and then never have to worry about paying again.
Depending on your mortgage rate, I personally do not like the idea of paying extra on it. If the rate is anything below 7%, you can almost certainly get more than 7% (averaged over the long term) from investing that money in a stock index mutual fund. If you put extra money into a 5.5% mortgage, you're only getting 5.5% on that money. Historically, the stock market averages close to twice that.
As for me, I'd put any extra money I can save into a no-load mutual fund that tracks a major stock index (e.g. S&P 500, Mid-Cap 400, Russell 2000). Vanguard, Fidelity, T. Rowe Price, American Century are all good mutual fund companies. Historically, over long time periods, stocks have provided a higher returm than any other asset class, so I like to invest any money I don't need for at least a couple years in the stock market.
As for retiring early, I have the same goal. :-) Let's hope we both achieve it. You can see how you're doing and how much you need by using one of many retirement planning calculators available. For example, CNNMoney has one at http://cgi.money.cnn.com/tools/retirementplanner/retirementplanner.jsp |
|
r_kav
|
You need to do what ever is necessary to increase your income. There is no reason, at your age, to throw in the towel. Go back to school and learn how to do something that pays a better salary. |
|
siagnon
|
You're good, guy. You know money management, alright. You're one of the very, very few I know ...
I'll give you specific recommendation:
Heard of Plan D? If not, dig some info about it. Anyway, besides medicare recipients benefiting it, drugs companies will too - thanks to Uncle Sam. Of the drug companies, Pfizer produces 8 of the top 20 drugs medicare recipients use.
Buy few Pfizer stock. Ask your broker for the Pfizer certificate. Don't let them have on "street name". Once you have it, the company has a record of it - in your name, not brokerage. You can then request the company to let you join on their DRIP (dividend re-investment program). Now everytime they pay dividend they send you a notification of it telling you they purchase more shares out of the dividend they credited for you.
Also on that same notification there's a portion you can cut and fill needed info and send it back to them with your $200 x 3mos. to be purchased for more shares. Do this every 3 months.
It could be wise to keep all the records of transactions (for tax purposes) since you're dealing here long term.
Don't get scare when I say long term - your money here is liquid. If you need money, you can always request the company to sell so much number of shares and they will send you the proceeds.
Right now Pfizer is a good buy. |
|
jeff410
|
Invest in taxable mutual funds. And keep paying a little extra on your mortgage. |
|
kathyw
|
Good question. You could gamble on the stock market but any money in the market is going to be money you are willing to lose. I would put money in Procter and Gamble's dividend reinvestment plan and do that every month, forever. There will be no cutoff point - just keep pouring it in there. Then when you are ready to retire, take the dividends as income and don't reinvest them. That's for this $200 a month. Any other raises you get, use a different strategy. But in the case of dividend reinvestment plans, the only thing you are going for is quality stock (P&G is one of the best), dollar cost averaging (which is achieved by mindless investing in the plan, no timing involved, no strategizing), and time - use it cuz you got it! |
|
Jess2424
|
First, let me tell you, you are doing very well based on your income/savings level. It is hard for us to tell you what to do because you did not include your husband in the equation. Now that you are married, everything you do financial effects your total household income numbers. My first advice would be for both you and your husband to max out the 401k and the IRA's. Then, if you still require something for your retirement and want tax-defferal benefits, the only investment vehicle with growth would be an annuity. If it was me, I would start putting 200 in a mutual fund account for now and then do a financial plan with your husband and start determining things like.....
When you want to retire(retirement is about 75% of your total household income to live at the same level you are now)
What are your goals...
There is just too many variables for us to tell you correctly what to do with the money. You and your husband should sit down and formulate a financial plan to get a better idea what you want to do. Even though you probably "think" its your money, but now that you are married, technically its a total household thing now....
Good luck.. |
|
Insurance Made Easy.biz
|
did your wife max out her IRA and her retirement plan? If not you could invest the money in her accounts. Another option would be to simply invest in a mutual fund you could be subject to capital gains each year but until the account becomes very large this is usually not a problem. I would check out the Investment Company of America fund by the American Funds. you could also open a tax sheltered 529 college savings plan. the money grows tax free. you would have to name a beneficiary (someone who you intend to spend the money on) this could be a niece or nephew and you could always change the account over to your child when they are born. |
|
My Plan B
|
It seems that you have good money management skills.
If you would like to retire early from a different higher-paying job go to www.networthusa.com
My business partner retired after 1 and a half years...and was able to quit his 50,000 a year job.
Please contact me if you would like to get started or have any questions.
I will gladly assist you.
I am 23 years old, working from home, and working on retiring my husband from his job.
You do not need to work all your life to retire. You cab retire EARLY!!!
Timea
networth_cashflow_usa@yahoo.com |
|
Charles C
|
If you like to invest in a cd that offers high returns, I know several banks in the Philippines that offers 20% interest per annum net of tax, interest payable monthly and is covered by 12 post dated checks each year for 5 years.. It is totally secured by PDIC. The banks (12 banks and growing) are a member of a group of companies that has interest in lending, credit cards, motorcycle assembling, pension and education plans marketing,newspapers and mutual funds You can email me for more information . |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
9 | 5 minutes(s) ago
| | | |
9 | 30 minutes(s) ago
| | | |
9 | 33 minutes(s) ago
| | | |
9 | 43 minutes(s) ago
| | | |
9 | 45 minutes(s) ago
| | | |
9 | 2 hour(s) ago
| | | |
10 | 5 hour(s) ago
| | | |
10 | 6 hour(s) ago
| | | |
10 | 7 hour(s) ago
| | | |
10 | 10 hour(s) ago
| |
|
Homepage 
Financial
Forum 
Investing 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
