if i want to save $500 a month, where can i invest?

Question

someone please give me advice or a site. Thanks!

Answer 1

Ah.

Investment.


Investment is probably one of the smartest things one can do during thier lifetime to insure high payout for retirement or just plain money uses.


Vanguard probably is the best investment company.

Right now, thier mutual funds are low, so I would encourage you to invest now and when they rise--mutual funds, even with thier ups and downs, must rise in the long run, you will make thousands or even tens of thousands of dollars.


The STAR investment of Vanguard probably is the best option for new and tentative investers.

Answer 2

Open an account via amertitade.com or etrade.com

I have been investing for 10+ yrs (I am only 24) and have increased my accound around 4,000%

I would be a buyer in the following stocks (all for which I own)

ENG (best should double by end of yr I have owned this for 5 yrs)
AOB (should test $8-10 by dec)
VCLK ($20 by Dec)
ARTG (Do research its primed to at least hit $5)
HOM (I sold at $3 it then shot up to $12 now at $6 may be a buying opportunity)

NOTE: I have a MBA in Finance from Wayne State University (Detroit) and am 75% through the MA in Economics (Monetary Policy/Int'l Finance) program as well.

FYI: Do not listen to anyone on TV i.e. Jim Cramer everything he says may not be bad but think about this what he says is the gospel for many so according to supply and demand his listners all do the same thing after he speaks which can throw a strong company out of whack for a while (note my ENG a few months back)

Do not be scared of the stock market and remeber to make money you have to take risks the reccomendations are in my oinion the best way for you to make some good $$$ w/ in the next 6 months. Then when you sell out look at putting the $$$ in a CanadianEnergy Trust like PenGrowth ticker PGH (pays a monthly dividend)

Answer 3

First, this site is inappropriate for that question. You can invest almost anywhere with that sum.

The problem is that we do not know what the money has to accomplish. For example, if you were buying a home and this is the downpayment in three years, what you should be investing in is different than if this is for your children's college or your retirement.

Additionally, we do not know the liabiliites you possess. Does this $500 also have to support small children if you die? Do you have a spouse or a mortgage? Are you at risk of unemployment?

Since I do not know the city you live in, I suggest you either go to a local Edward Jones representative (a broker) or to a fee only financial planner. Both will do well by you.

Answer 4

I would recommend doing your own research... are you really gonna trust some yahoo from Y!A to tell you what to do with your hard-earned cash?

If you want some tips, here's what I can suggest:

1) Check out www.sharebuilder.com for an easy way to start investing at a low cost per transaction. This program allows you to purchase partial shares and invest a regular amount each month, sort of like an automatic savings account but better!

2) Only invest in companies when you know what it is they do. If you can't figure it out, don't bother! I got this tip from my dad... he was thinking of investing in Enron but couldn't figure out exactly what they were doing, so he didn't. Thank God!

3) Only invest in companies that pay a dividend. These are YOUR companies, they need to be working for you and keep your interests and needs in mind. Dividends hold a company more accountable.

4) Start out with "safe" stocks -- S&P 500 types: GE, PG, JNJ, large corporations... you won't make a lot of money fast, but over time they will prove to be steady and reliable options to "shore up" your portfolio and allow you to take greater risks elsewhere.

Answer 5

The Futures & Options markets are an incredibly leveraged market involving a low enter cost possibility and a double in market gain for the last 5 years (see CRB.) Be sure to choose wisely in brokerage requiring a learning experience and open communication.

Answer 6

Open an account with a mutual fund company. You can set up automatic withdrawals monthly. Just pick a market index fund to start with. T Rowe Price is a good company.

Answer 7

I would recommend Silver!
Or Gold!
They are doing well and are rising for the summer preparing for Christmas!
Great time to buy!

Answer 8

try vanguard.com, need to have 3000 for initial investment

Answer 9

Well, You can always give it to me....i'll invest it for you!!!

Answer 10

use systematic investment plan (SIP), MAKE YOUR OWN PORTO FOLIO, 25% IN MUTUAL FUNDS, 25% ON STOCKS, 25% ON INSURANCE,25% FIXED DEPOSIT