David W
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Beer and broads. |
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Gardenclaire
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Blimey, that's more than many many people EARN in a month!!! |
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fargo
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talk to a good independent financial adviser. Try www.thepremiergroup.co.uk |
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truly_insightful
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Wow, spare monthly income? Never knew there was such a thing. |
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gorilla
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If you have any debt, including mortgage then consider how much you can use of your surplus to reduce the debt.
If you are saving for a particular purpose then you need to calculate how much you need to put away and the time scale involved. If its more than five years off then a combination of fixed interest securities and equities is best, the mix depending on your attitude to risk. If less than 5 years, then a combination of term deposit accounts should be used.
A good financial adviser will advise on the above and use ISA's,OEICs etc.and also take into consideration any potential Inheritance Tax issues. If you own your own house and have total assets over £285,000 you have a problem. If you are married then a special Nil Rate Band Will is recommended together with having the investments split between you as needed.
Beware of get rich quick schemes and ensure that your adviser is regulated by FSA if in UK. |
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MR MONEY
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Talk to multiple advisors. Plus educate yourself on different investments.
Stay away from get rich quick scams or brand new investment ideas. That is an easy way to throw your money away. Also, stay away from Annuities or other insurance products.
Good luck! |
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mrstockbond
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Invest in ETFs |
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TNT
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I don't even make that much in a month.... You COULD donate it to me if you would like to....
I would just put it in a high yield savings account... Hibernia has one that gives you a ton of interest based on the amount in the savings account.... They also give you interest on your regular account.... |
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the mag
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P*** it up the wall you might not be here tomorrow |
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denxxchua
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Real Estate. |
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**tomtom
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WOW 2K per month spare.
split the money as follows:
Buy Premium bonds
Invest in property
invest in stock market ( via unit trust /mutual fund)) |
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Franco
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If you want maximum gain, buy real estate. But it will need looking after.
If you are happy with less gain but an easy life, buy some index tracking mutual funds in different markets, eg US, EU, Far East, International etc. |
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My name's MUD
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Premium bonds! http://www.nsandi.com/ |
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Kevin W
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It depends on what you want to use it for. An extra $2,000 a month will go a long way if you do it right. The first thing to do is pay down any debt you may have. Since you have that much extra, I'm assuming that you've already done that. The next thing to do is start investing in the things that will be the most benefit to you and your family later on. Set aside 3-6 months gross pay for an emergency fund in case anything happens that you need quick access to some money. The best place to do this is in some kind of money market account where the interest is keeping a closer pace with inflation than a regular checking/savings account, and if you set it up at a different bank/credit union than you are currently using then you can more easily not touch the money unless you really need it.
After you have that emergency fund established, or concurrently if you choose, the rest should go into a long term retirement program like a Traditional or Roth IRA (Individual Retirement Account). I'm a fan of mutual funds, just because the right ones have a good track record of successful investing at a good rate of return. A large number of them have averaged 12% or better for 30-60 years. If you invest $2,000 at a 12% rate of return, then in 15 years you have over $1,000,000 saved, and by 20 years you'll have over $2,000,000.
If you live in the United States or Canada, I recommend you talk to Primerica Financial Services, and if you live in the UK or Spain talk to Citisolutions. They can provide you with a free financial needs analysis, and show you amazing investment options. They've done an amazing job at educating me on what I can do to plan for the long term. |
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Xldremz
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educate yourself on investments.
Im currently using that to create income, last month was about 20k - from that same 2k you mentioned.
I will help you answer this question with my group - 13,000 members interested in this topic. see sources.
The best way in the end will be entirely up to your level of risk aversion - if you're young, risk it all - if you're close to retirement, then a different plan is adviseable.
Either way we can help ya. Free. |
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lowflyer1
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I like Dividend Reinvestment Programs, with automatic deposits. Once you pick companies you like, the only work left is watching the value grow. |
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natsbubbles
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i suggest giving it to someone who really needs your help get out of debt who could pay you back without interest.... maybe someone like me!!! that would mean you would be investing in a charitable cause and you would be able to sleep at night!! |
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