Where is the best place to invest your money?

Question

I have been at the same job for 4 yrs, i am leaving this job soon and i dont want to get into a 401k here and the job I am going to doesnt have one, it is a nutrition place and wellness center for women. Where is the best place that i can invest my money to have it come directly out of my checking account?

Answer 1

you have several options available to you. a 401k is really the best investment for retirement but since you don't have that option available an IRA is a good investment. there are 2 different kinds of IRA's the first is the traditional which I recommend, you can write off the amount of money you put into the account on your taxes for a tax credit every year that you add to the account. however the interest on the account is taxable when you withdraw the funds. a Roth IRA is the second type, you can not write it off on your taxes each year however because you cant write it off on your taxes you aren't taxed on it when you go to withdraw the money. both types of accounts you can put in a max of $4000 a year. and both have penalties if withdrawn before age 59 1/2. there are also many different types of annuities that are also a good investment. Most banks now days offer several different investment options and they have financial planners which are typically free to talk with who then can take into consideration the whole picture with your finances and help you make the best decision for you and your financial status.

Answer 2

Have money taken out and put into a savings account. When it reaches $2000 open a Roth IRA at an online brokerage company and invest $1000 there. I would keep alternating between building up my savings and building up my Roth IRA… Savings is important for those emergencies.

There are some very beneficial things about a Roth (though you can’t use it as a tax deduction).

I would choose an indexed mutual fund. Personally, I like the ones by Vanguard because of the very low maintenance fees.

Get on the internet and learn about ‘indexed funds’ and ‘Roth IRA’. There are rules about Roth IRA’s that you need to know about. Yahoo has a financial page with some good information to start learning, but you’ll find others as well

More and more we are going to have to be responsible for our own financial well being and you can only achieve that by educating yourself. Think of it like a Wellness center for Women only it’s a Wellness center for Finances…

Good luck

Answer 3

When someone says that she has money to invest, I'm assuming that she already has cash set aside in a money market account that will cover 6 months of regular bills. I'm also assuming that all of her credit cards aren't carrying any balances. That said, you also need to decide on a goal. Is this a short term goal that you're investing for? If so, maybe a high yielding money market fund like Vanguard Prime Money Market (currently 4.9%) would be a good place to park some cash. If you have a longer time horizon, how about starting with some Vanguard index mutual funds? The minimum investment is low and most index funds do better than managed funds. If retirement savings is your goal, Vanguard (along with other mutual fund companies) have these "Target Funds". You set your retirement year, and the fund company automatically balances your investments between stocks and bonds based on how many years you have until retirement.

Boy, I bet you didn't know that was such a loaded question, did you? ;)

Answer 4

Real Estate, actually. Its the safest.

Otherwise, if its just a small amount, try getting a Roth IRA. You need 2000 dollars to start it, but theyre very good, tax wise, and you can still use the money to buy a home later, without penalties. Also you can use it for college. Otherwise you cant touch it without penalties before youre 54.

http://search.yahoo.com/search?ei=utf-8&fr=slv1-&p=%22Roth%22+IRA%22

Answer 5

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Answer 6

Real estate lady. Read " Rich Dad, poor Dad " by Robert Kiyosaki.

Answer 7

Roll your 401(k) over into an IRA with a brokerage firm.

Answer 8

Compare rates free

Answer 9

Real estate.

Answer 10

i am still looking for the best answer!!