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Sounds lovely Stan but ... |
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 If you were a multi-millionaire, where would you invest your money? |
What would be the smartest way to invest millions?
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What about foreign banks?... |
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I am 32. I don't own a home. I have my own car. I don't have life insurance. I can risk all. I work as a computer technician. It took me about 10 ... |
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Priscilla B | What is the best way to start investing money at 30 years old? |
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SWH
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Your at the perfect age to start your retirement savings program. Here's some ideas for you to get started in decreasing order of importance.
1. Contribute enough to your 401k to get the company match (if you're employed and if they offer one).
2. Max a Roth IRA. You can put in $5000 this year. Roth's are such a great deal (because you NEVER pay taxes on them and they're super flexible) that the govn actually limits the amount of money you can put it. DO IT. You have to have earned income to do this though (research IRAs at www.fool.com--too much to explain here). Put the money in a target retirement date fund and forget it. I use Fidelity--Vanguard is a good choice too. No fees, low expense ratios, great reputations, great performance history.
3. Put enough aside in a high yield savings/money market for emergencies plus any big unusual expenses you anticipate making in the next 2 years. For instance, if you're going to buy a $30000 car in a year, keep $30000 plus emergency money in cash--don't put it in stocks. Make sure you're getting over 5%--savings accounts and money markets are paying more than CDs right now in many places. I use Fidelity Money Market (5.%).
4. Now that you've done the above things, you can invest outside your retirement accounts! If your goals are short term, stick with cash. For longer term goals, stick to index funds. Boring, but your BEST bet. They minimize taxes and fees, have no commissions to pay, and parallel the market returns (which most mutual funds lag even before fees are paid).
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The Iconoclast
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Depends on what you want this investment to do for you. Each situation is different and requires a different strategy.
For example, if it's for retirement, look into a 401k or a Roth-IRA.
The advantages of a 401k is that you put pretax money into the account. Therefore, if you gross 1,000 a week and take home 800 (assuming a hypothetical tax rate of 20% with all deductions), with a contribution of 10%, or 100 dollars, you would then gross 900 dollars and take home 720 dollars (assuming the same hypothetical 20%). You just made 20 dollars (800 versus 720 + 100 in the 401k. If your company offers a "match" up to a certain income, max that percentage out, but don't do anymore. Put anymore you wish to save into a Roth. When you withdraw the money at retirement, you are then taxed on the amount you take out. The income taxes are deferred until you take it out during retirement.
A Roth-IRA is post tax money. So in the same example as above, if you net 800 dollars a week, and you put 100 dollars into your Roth, you would have 700 dollars wages and 100 dollars in the Roth for a total of 800 dollars. The great thing about a Roth is that the money is not taxed again. When you withdraw it at retirement, you get it tax free because it's already been taxed with your yearly income taxes. A Roth has other advantages like being able to pull up to 10,000 dollars our penalty free for a down payment on a house, and other things.
For short term savings, a money market account or a High Yield Savings Account, such as EmigrantDirect.com or INGdirect.com may offer a good solution.
For 3-5 year outlook, go to vanguard.com and look into short term and intermediate term bonds. Anything longer than 5 years but NOT for retirement could be put into a mutual fund.
I would not suggest investing in individual stocks, unless you really know what you are doing and have the self control to ride out the markets. I have a Scottrade account, but I consider my money in my stocks as a gamble, not as a solid investment.
And remember diversify! |
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lavito
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If you have enough, invest it such that you have enough interest to maintain your life style untill you think your likely to die.With about 100K, at the age of 30 you should be able to have a modest lfiestyle to the age of 65, and retire now. |
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bucklady
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i wanted to invest too, but i didn't want to loose my money so i went with a few cd's, you get about 5% with an eight month peroid but you can choose to do a cd for a longer period of time this is just one idea. |
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Squirrel
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The first thing I would do is start a 401k... |
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derobake
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Read about investing. Mutual Funds for Dummies is an excellent book to start with. I also have a free downloadable book from my website. Click on my profile and read my info to find the site or email me. |
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kelly
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I would do a 401k at work or an IRA if you don’t have one at work. If you do an IRA I would learn about ETF's they can get your investment into lots of stocks but they don't load down your profit like mutual funds do. 401k's you can choose between there funds I would go with the most aggressive and most invested in stocks when market is in a bull market like it is now. When it turns bearish then move it to less aggressive. If you have extra after you hit your max in a 401k or IRA then setup a standard trading account with any of good brokers like scotttrade and trade ETF's in there too. Be sure to read up on market trends and learn how the stock market works learn to recognize bull and bear market reversals these take a long time to happen but when they do you need to make adjustments to take profits and lower risk in your portfolio. You might make a few adjustments a year unless you want to learn to trade then it takes more learning and time. Market's go up and down that's normal nothing is bad about going down because it means it will go up again. You just need to keep an eye on it but somthing you do once a month. There are a lot of books out to learn about how the stock market works. |
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Succes
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You should understand the main reason why you want to spend money buying a particular stock. This step should preclude investing in stock. It allows you to move swiftly as soon as the price of the stock goes down a lot. If you know the main motivation about purchasing a specific stock, you will not hesitate to buy it once the price falls.
http://debt-trap.com/category/Stock-Investment-Ideas.html |
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Frank Castle
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Open a brokerage account at Zecco and invest in Sony, Microsoft, Nintendo, Ebay, Amazon and Yahoo! |
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ofer l
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1. What is your plan? What do you want to do - buy a house, start a business or go back to school? Do you have all of it place and would you like to start saving for retirement?
2. Diversify.
3. Don't buy single stocks unless you are doing DRIP or D.C.A.
Call me 201 796 7995 it will be much faster to decide; |
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Push
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Pass alittle of that over here im 30 to lol. |
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beesting
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First step draw up a monthly budget.
See if you have any extra money left after buying monthly essentials.
If you do have enough money left, start an interest bearing savings or checking account. At the same time look into a coin shop that sells Gold coins.
Here is some VERY interesting information:
http://www.kitco.com/ind/B_Hunt/jun052007.html
{Excerpt} Now how about stocks vs. gold? Here's where it gets scary...
In the chart below, we've plotted the S&P against "real money"... gold. So how are stocks doing against real money? Break even? Not even close. Try a real loss of 60%... |
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