What to do with $55,000?

I have $55,000 to invest, I want to make the most money I can. What would you suggest?

I find that when people ask for suggestions, they have less experience and are hoping to gain the experiece of others so I would suggest the following, but first a warning:

You'll find everyone sounds like an expert. the only way you can determine whats right is to arm yourself with knowledge. I hope to show you what you need to find out and offer a little advice along the way.

Step 1. (if you don't already have a brokerage account.. otherwise skip)
First decide what kind of brokerage you want to work with. You can open a brokerage account in your bank, with a large full service brokerage or an internet brokerage. I find when I get help, most people want to sell me things that are better for themвЂ¦. So I use www.scottrade.com because itвЂ™s cheap and easy with low frills. I do my own research and make my own investments. But any low cost internet brokerage service is fine.

Step 2. get a subscription to Barrons or Investors Business DailyвЂ¦

Step 3. Put your money it in 3 month CDвЂ™s right now. First the market is unstable and second you have some homework in Step 3 to do before you do any investing. I would put 1/3 in a CD on month 1, 1/3 on month 2 and 1/3 on month 3. this way you every month, 1/3 of your money becomes available if conditions improve. otherwise reinvest it in another 3 month CD.

Step 3. Go out to the internet and search on the following subjects. Get familiar with the concepts.
Asset allocation
Long term investing
Roth ira vs ira
Large med small cap
Value vs growth
Indexed mutual funds
ETF
Sector funds
Bonds CD
International funds
Market cycles
Fundamental analysis
Technical analysis

Step 4 go to http://clearstation.etrade.com/ (itвЂ™s a part of e*trade which is also a low cost brokerage) and sign up for a free account. Play around there by looking at graphs and fundamentals.
I think itвЂ™s also a good idea to pretend you have $10,000 and start buying and selling on paper. Keep track of where you are each day for a monthвЂ¦ ItвЂ™s a lot easier to lose play money then real moneyвЂ¦.

Step 5. ItвЂ™s always a good Idea to see a CFP (certified financial planner). Their job is to work for your benefit, not to sell you investments. They can cover subjects like employee benefits, insurance, budgeting, living trusts, 401k, taxes and real estate as well as investment types and investment types to keep away from.

Always strive to do your own researchвЂ¦ youвЂ™ll find everyone sounds like an expert so take everything people tell you with a grain of salt. ItвЂ™s not easy in the beginning but soon you will be the expert.

DonвЂ™t get involved with futures, currency, options (unless you get stock options at work), commodities, annuities and other derivative type investments at this time.

Good Luck

It deppends, Have you gotten all of the education you want? You can invest it in your future that way. You could also buy a good used car for getting you there. If you have a degree and r already happy with what you do and make enough income, do you have a home and furnishings? Maybe you don't want to stay in that same town. I'd say the best thing to do would be just to save it until you know what to do with it.............Invest it in a (bank) CD Talk with someone from your bank they can best tell you....... Or invest like 5 or 10000 into lots of different penny stock

Times are very uncertain. Any high percentage investment is also high risk.
So, go with a tax deductible pension income contribution at your highest possible % return. Where I am that is 5.5%.

I am starting a new international business. I can offer you two options for a return. Even if you decide to invest only a fraction, what I offer will be acceptional. (letitbenow73@yahoo.com)

talk to broker and think about mutual funds.

Seriously, with the prices of oil, I would certainly think about investing in the oil markets!

Hello--
As far as the $55,000 is it a lump sum? Inheiritance? Or is it like an old 401K?

You need to first figure out what you want the money to do for you. If it is for retirement open a Roth IRA ($4K/year limit per person) or you can put the money into an annuity. Both vehicles can provide tax deferred growth.

If you need access to the money, you can open a brokerage account and invest in some stocks or mutual funds.

If you have children you can put money away in a section 529 college savings plan.

There are many options and I've only listed the most basic, additionally there are many combinations that you can do. I would recommend speaking to a good financial advisor in your area that can help you decide what is best for your personal situation.

It really depends on what you would like to do with the money, what your regular income level is, where you live (which country) and what you are interested in.

Some ideas that haven't been listed here are:

My insurance agent has told me that I can get free financial planning assistance from an advisor associated with them (they sell their wares, but you may get good ideas this way if you are going simply on a fishing expedition),
You can purchase an annuity (which isn't the best investment, but is stable and will provide regular and dependable income for a long time),
You can invest in a wide range of stocks that you research and invest LONG term, day trading will only cause you to lose your money in fees over time or maybe only break even,
You can invest in someone elses education (to make the world a better place),
You can invest in your community in ways that maybe others would if they had the opportunity you have. For example, does your town need an animal shelter? Do you know someone who needs an organ transplant (they might get elected President one day ...) , etc.

I agree that you should tell no one (except a financial planner) what you have, I would exercise great care in what I did invest the money into, and I would - most of all - be patient with any investment.

There are some very good investments you can make that will pay off slowly, yet very well over time, and there are some that will have an immediate payoff but won't really be worth your time when you are through the total cycle of the investment.

Avoid get rich quick schemes. Don't believe the 300% Swiss account lies, and take time to ask someone you know who can manage money what option they think is best for you.

Only you know what your hopes, dreams, and goals are. Think carefully about these before you invest.

If you purchase property, make sure you set up a trust to protect it!

what you can invest the money in depends primarily on your expertise of that field. but one thing i would like to say is don't invest the whole amont into one business, so that if by chance that one fails, you can always hope for the other one to succeed.

first, don't let anyone know you have this $$$. so called friends and long lost relatives will be on your door step in no time.bank CD's are the safest.stocks and bonds are not that stable, up, down, up down.put some of your $$$ in an IRA for when you retire.don't loan any $$$ out, most likely you will never see the $$$ again or the one you loaned it to.

Put $10000 in a bank a/c for a rainy day
Put the rest on the stock market, buying 9 market leading companies in different sectors and a mutual fund index tracking the smaller companies.

This plan will give you good diversification, scope for good profits and will also help you learn and develop your own skills.

invest in a mutual fund or invest in a property coz these are the two ways which gave much returns compare to other alternative

Dear Ashley, .....this is a true story. My father came to Canada with $5.00 in his pocket. Yes, you read correctly.....five dollars. He now owns several.....MANY rental properties - all paid for. His quote: If you can't afford to pay cash........ you can't afford it!!! Rental properties are probably one of the biggest returns you will ever find anywhere. Let's say you find a rental property somewhere for $55,000.00 You rent it out for $400 - 500 a month. What bank will pay you that in interest? Meanwhile, your investment will climb in value - check where real estate is beginning to climb in value. Then buy your second house. Make sure that the rent pays your mortgage payment - but if it's not rented out..... you got the $$$ to cover the pymt. Good Luck!

Hi, i know what your question means. i also think stock market is a nice place for investing.

I found some useful tips in stock trading. It includes stock basics, how to protect your profit, find a potential increase share, control and manage stock risk, when to sell/buy stock and so on.

http://www.bernanke.cn/stock-trade/

Best Wishes && Good Luck!

buy real estate. well land anyway. more on investing,stocks and real estate on this site

you should give me 5 thousand for plastic surgery and 3 thousand so i can move back to Washington.

Donate Some for my charity

would you please contact me at actdlr@yaho.com

thanks

Can I have 1,000 dollar so I can go back home(Japan)...Please...

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