Susan M
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Pay yourself first! before you pay anyone else. Treat it like a monthly bill. otherwise you will be 50 before a flash of your eyes and you will have nothing! |
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RMC
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paying yourself first is an excellent answer if this question pertained to personal finance. it is great advice, but not the best investing advice as it doesnt really get you anywhere with investing.
my biggest piece is a set of four steps and comes from experience and nobody else: do your research, ask questions, be skeptical, and trust your gut.
Research and skepticism being key. I dont like to go into an investment (whether its a common stock purchase or an angel investment) unless I have done my research to the point where I could feel comfortable answering questions from outsides inquiring about the investment. Skepticism is important because if it sounds to good to be true it usually is. Companies and people don't like to let themselves sound bad. And just remember, everytime you're buying - someone else is selling. Why are they selling? and Why are you buying? |
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atg28
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Start early - all of the graphs are right- starting as early as possible really makes a difference.
I started as a fluke at age 23 and I didn't end up contributing to my funds for several years - I still made money for the years I didn't even contribute.
Make this year's tax return your initial investment. |
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julia
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don't waste money, pay off debt, and pay yourself first. |
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summuzz
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Candy and hookers, that's the way to go. |
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mike_alegend
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Buy low and sell high |
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Unazaki
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Put your money in a bank to receive a percentage increase. |
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oakhill
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In percentages, invest your age in bonds and the remainder in diversified stocks. -John Boogle, Vanguard Mutual Funds. |
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Stephanie C
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Place your money in MANY different investments...any economic text book will tell you mutual funds, retirement funds (401k's and IRA Roths), saving accounts, owning property MAY OR MAY NOT be a good investment so its best to put your money away numerous places...But thats the best advice, don't focus on just one place.. |
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MR MONEY
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Pay yourself first. 10% in company retirement plan plus additional 10% on your own. Save until it hurts.
Invest in stock based mutual funds. If you invest in Cd's, the bank will take your money and make more with it (investing in stocks).
If your house is your biggest investment, then you're in trouble.
Finally, Don't spend it until after you get your paycheck. |
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toddk57@sbcglobal.net
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well: I'd been investing some good savings where they'd
keep records on each amount every day ! |
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angrysandwichguy_2007
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Don't write naked options. |
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Jeff
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A penny saved is a penny earned - Ben Franklin
Quit spending money you don't have, to buy stuff you don't want, to impress people you don't like - Dave Ramsey |
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Leo Lion
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Don't fight the market trend.
I heard this mentioned many times.
I also heard stock market commentators tell people to sell their stock, and instead the stock went up.
Averaging out over time seems to work best, with a plan (as mentioned) to pay yourself with periodic increments. |
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famousfailure
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know the market you are going to invest in. also, no one ever gets rich on accident. |
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Dennis G
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admit loss and bail when stocks are running back ...lot of people lose considerable money waiting on markets to turn around. |
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Silly Girl
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When I was 24 I had a friend that wanted to sell her home. I had no money to buy it but said I would. All she wanted was the down payment she'd put down. I feel like God put me there for that purpose.
So I borrowed the money and bought that house. Now I could have sold it myself and made a profit right there and then. But before I did anything I talked with my "dad". He said either sell it quickly or rent it and sit on it for awhile. So we prayed about it and the renters stayed in that home long enough (8yrs) for the price to go up and up. We sold that home and paid cash for the one we now live in.
I believe investing in real estate to be the best thing. I've bought other property. While others paid the bill *renters*. I am a low priced renter, in that I mean I do not charge what the going price is. I'd feel terrible if I did. And I still make a good income and I sleep well at night.
Best advice was to sit on that property. Thanks Dad!!!
God started me on a long road of buying, building, renting, selling. It's a sweet income. |
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Anemone
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The best advice I got was to put my money into a managed portfolio. Even though I pay a quarterly fee, that account is far outperforming all my other investments as well as outperforming the market in general. I started saving in my copmany 401K plan 18 years ago and it has been hugely satisfying to watch my portfolio grow each year. You probably won't get rich overnight, but you can accumulate wealth over time. |
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phoenixbard2004
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One word... Plastics. |
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gluckstadt_randy
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to Tithe |
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Francis P
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Beside all advise given by grate peoples here which i found to be sound. My advise is :
"FIRST PAY YOUR TITHES"
1. Please Save as much you can until you are running out of income.
2. Put your saving in Fixed Deposit in any trusted bank only.
3. Funds and Stocks may be advisable if you are willing for some short term profits but in long term no bond or debenture is so much profitable that you risk your money.
4. Invest in Local Area BC. That will keep rotating your money.
5. Invest in Funds and Stocks only with the extra money left after saving. |
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Brick
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SAVE-SAVE-SAVE
Put money into a retirement fund as young as possible. (401k now days is the best) Don't put too much money in one stock. |
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holeeycow
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Buy real estate. Don't buy useless junk. The best thing to collect isn't cars, clothes it is money. |
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Quick2Answer
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The 19th century economist Adam Smith wrote that it is our moral obligation to become wealthy enough to support not just ourselves, but those we love. This prevents them, and you, from becoming a drain on the greater society because you have not strived to make more of yourself.
In this light, do everything you can to improve your position financially so that you can help those around you more than you can now.
Who knew that becoming wealthy was not just a good way to live, but the moral thing to do?! :)
As far as the one thing that I learned that would most appropriately teach me to invest it's this:
Every transaction has a spread. Take the expected percentage of return and make sure that it is greater than the percentage that you are paying for the money to invest in that asset. If it isn't, pay off the debt!
Ex1. Stocks=>9-12%, Home Equity Loan=>-7%. This gives you a net 2-5% and therefore is worth doing.
Ex2. New Car=0 to -20%, Car Loan =>-7%. You net -7 to -27%! You should have paid cash for the car instead! |
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Yoda
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Stay out of the markets ,,,,, they are run and controlled by the corporate/political sectors and organized crime ,,,,, |
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pervertidamente
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Invest in the Microsoft! |
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Prakash P
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Have you ever thought about investing TIME rather than investing money?Look at successful people what they have done.They had no money when they started any venture.Such as Dell Computer etc..I teach people investing time efficiently to create an income stream.Drop me an email at setuup42yahoo.com
for more information. |
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Sleepless in Chicago
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Invest in the future.
Live for today. |
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dmpeters_67
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The best advice I ever got was to invest my time before my money. No one will watch our for your money like you. Read up, take your time and start slowly and diversify. Use what you learn for future investments. Listen to CNBC, read the papers, and buy a book on basic investing. Just remember what I say: Invest your time before your money. And there are NO guarantees. Period. |
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badmanbrown
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Invest in the shares of MultiCell Technologies! I took that advice and won big near the end of 2003. It has since retraced all the gains and is now set for another run. MCET.OB With a little patience, you can't lose. |
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Dr. HOUSE
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Dont pee in the wind! |
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