2006-07-26 08:55:33 · 9 answers · asked by Anonymous in Business & Finance ➔ Investing
Priority #1) Sign up for your company 401k up to the amount that the company will match ... it is free money. If you are young, I would start the investment decision with something simple ... like the S&P 500.
Priority #2) Invest as much as you can in a Roth IRA, again, until you learn more about investment elections, I would suggest the S&P 500 as the investment choice.
2006-07-26 08:58:57 · answer #1 · answered by spineminus2 3 · 0⤊ 0⤋
See Spineminus2's answer. It is a good one. Sign up and start investing early. Compounding interest is astounding. However, it all depends on time. Since you are young, time is on your side, and believe me, it will make a huge difference when it comes time to retire.
Get in the 401 K and invest as much as you can afford and then add a little more. If you don't see the money, you don't miss it.
Good luck.
2006-07-26 16:00:51 · answer #2 · answered by BigChuckles44 2 · 0⤊ 0⤋
I used to be a broker, so here's some sound advice. Invest in any plan they offer through your workplace... whether it's a 401k, buying company stock, etc. Try to also start your IRA... most go for the Roth IRA nowadays. If you still have money to invest, try having so much deducted monthly from your checking account to invest in a mutual fund that meets your investment goals and objectives; you'll be surprised in ten years how it has grown.
2006-07-26 16:24:01 · answer #3 · answered by Mike S 7 · 0⤊ 0⤋
If you have just started working, I would advise a savings account first. Experts advise that you have 6 months salary in savings for emergencys. I have had jobs with 3 companys that were good national companys that have gone bankrupt and eliminated my job. (Greyhound Bus 1990, Montgomery Ward 1998, Kmart 2002)
No job is secure in todays market.
When you have done that, then look into 401k and maybe a little in stocks or certificates of deposit.
And by all means, research everything and dont fall for double, triple your money scams.
2006-07-26 16:06:45 · answer #4 · answered by mslider2 6 · 0⤊ 0⤋
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2006-07-26 16:04:51 · answer #5 · answered by Anonymous · 0⤊ 0⤋
try putting a little away at a time. write down an exspense log and keep track of all the tings u purchase. after a month u will c where and what ur spending money on. and then u can determine if its set 4 u 2 put away more.. Peace
2006-07-26 16:00:24 · answer #6 · answered by Nicholas A 1 · 0⤊ 0⤋
401 k free money never ever ever turn down. check out books by suze orman and go to the financil section of the book store also check out a book called rich dad poor dad teaching what rich people teach there kids verse poor people.
2006-07-26 16:01:04 · answer #7 · answered by New York 2 · 0⤊ 0⤋
Make sure you have savings before going on stock market
2006-07-26 16:00:39 · answer #8 · answered by Anonymous · 0⤊ 0⤋
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2006-07-26 22:32:45 · answer #9 · answered by Andy 1 · 0⤊ 0⤋