2006-06-13 08:54:07 · 6 answers · asked by Anonymous in Business & Finance ➔ Investing
Kristin G- What do you mean investment property?
2006-06-14 07:42:21 · update #1
First, I would make sure you have at least 3 months salary saved up in the bank or in a money market fund for an emergency fund. (Some people say 6 months.) Financial disasters like getting layed off or sick happen to all of us.
Second, I would pay off all high interest debt. Pay off everything you can except the house mortgage and student loans. Paying off debt is one of the best investments you can make. You will have more money in the future because you won't have credit card bills to pay.
Third, if you have money left, start investing in stocks, bonds, and money market funds. You want to buy a diversified portfolio of stocks, as individual stocks are too risky. For most folks this means buying mutual funds. I like Vanguard.com, other people like Fidelity, TIAA-CREF, and DFA. Buy no-load, low cost funds. If you are like most people you will invest part of your money conservatively, in money market funds and bond funds, and part aggressively in stock funds. Vanguard.com has an on-line questionnaire which will give you an idea how aggressive you want to be.
Investing in a mutual fund IRA for retirement may give you an income tax break. Talk to your tax adviser. You may also be able to invest in a stock mutual fund via a 401K plan at work. Buying a house instead of renting will make you a lot of money in the long run.
Believing advice you get on Yahoo answers can be risky, so read these websites for further information. If you find it too confusing, contact a professional financial advisor. They will charge you significant commissions, however.
2006-06-13 09:41:18 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Definitley open up a 401K, get a money market account, or if you have good credit, buy an investment property. You can refinance it in 6 months and pull at least 30k out. Then, you cna invest with that money.
2006-06-13 09:09:51 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Saving cash is high-quality however I recommend you be taught to earn a living, too. Can you write white papers on what you already know and promote them on-line? What approximately renting matters you possess? Read Rich Dad Poor Dad for more information. For saving cash, take a look at studying Jean Chatzky, Dave Ramsey or Suze Orman, all on-line. Also, be taught to take a position. Look at Dividend Reinvestment Plans and be taught to try this.
2016-09-09 00:59:14 · answer #3 · answered by vanderbilt 4 · 0⤊ 0⤋
start a 401k plan for retirement as soon as possible. It is never too early to start saving for retirement. An easy way to save is put your money in a CD or Certificate of Deposit. There is absolutely no risk and you earn a higher interest rate than a regular savings account.
2006-06-13 08:58:47 · answer #4 · answered by endosmoka 3 · 0⤊ 0⤋
make a bank account instead of cheking account put saving account and hey will give you interest(money) depends how much you put in that saving account...;)
2006-06-13 08:58:30 · answer #5 · answered by Tha best!! 2 · 0⤊ 0⤋
ebay i hear is good
2006-06-13 08:57:03 · answer #6 · answered by siveenm 2 · 0⤊ 0⤋