I have received some cash (10 grand). What would be the best investment(s) for this type of money?
2006-07-31 03:12:52 · 18 answers · asked by Anonymous in Business & Finance ➔ Investing
If you are asking this question, it means you do not know much about investing.
The first thing you should do is get a book that explains the basics of investing and the stock market. There are hundreds to choose from.
Secondly, DO NOT take advice from anyone on this board or any board about specific stocks or bonds. Listen only to those who are talking in general terms about types of investments. People pushing individuals stocks and bonds many tiems have their own agenda or know less than you do.
that being said.
What are you goals?
If retirement is your goal an IRA (ROTH) is the best - this is a type of account that allows you to invest the money in a wide variety of things (stocks, bonds, mutial funds, money markets, etc) without having to pay capital gains taxes. There are rules to the account, but your bank or investment firm will explain these - i recommend opening one with an investment firm as it has more options for you than a bank does.
If educating children is your goal - there are accounts similar to IRas for this.
If it is just to invest it and earn a return for future use, either educate yourself and open an account on your own and invest on your own or find a financial advisor.
All brokerage firms will provide a financial advisor if you want one. They will expain everything to you andhelp you choosethe best investment - yes they charge for this, but the charge is limited by law to either a few percentage points of the total investment or a flat fee for a financial plan.
Whichever approach you take, you should probably start with putting the money in a mutial fund - this is a pool of funds from many investors that are used to buy a wide variety of stock or bonds. They are managed by a professional whos job it is to make you money. Until you learn to do it on your own, this is the best bet.
Good luck
2006-07-31 03:27:02 · answer #1 · answered by urbanbulldogge 4 · 0⤊ 3⤋
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2016-02-15 23:29:34 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Open a brokerage account and buy shares of an S&P 500 exchange traded fund (for example iShares (ticker symbol IVV) has very low fees), or a no load S&P 500 mutual fund (such as Vanguard). Over the long term stocks tend to outperform other asset classes, and investing in an index fund eliminates the risk of investing in individual companies (though of course the market as a whole does fluctuate). I don't recommend buying individual stocks unless you're willing to do a lot of homework and have time to familiarize yourself with the market. A fun hobby though.
2006-07-31 07:16:46 · answer #3 · answered by Adam J 6 · 0⤊ 0⤋
Buy a house in Bulgaria. We bought 2 last year for £20k for both that included flights solicitors everything.
House prices going up 20- 30% a year and will jump big time next year as Bulgaria should be joining the EU.
Even if your investment takes a while to capitalise itself you've got a holiday home for as long as you like.
Bulgaria is a lush country, people are really nice. Cost of living is low so cheap to stay. If you wanted to live there it's not difficult to get a visa.
Check it out. If you want more info email me at projetlkarma@yahoo.co.uk
2006-07-31 03:23:24 · answer #4 · answered by projetkarma 2 · 0⤊ 0⤋
Easily the best option for you is to purchase an ISA.
Your money should be safe, it will produce interest and if you need it then you can withdraw all or part of your money at any time, but obviously to get the best from an ISA you should really leave it untouched for at least five years. The big bonus is that all profit you make is completely tax free. Hope you find this useful.
2006-07-31 03:29:42 · answer #5 · answered by Anonymous · 0⤊ 0⤋
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2015-01-25 00:09:29 · answer #6 · answered by Anonymous · 0⤊ 0⤋
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2006-08-01 13:07:39 · answer #7 · answered by Tarumi 2 · 0⤊ 0⤋
Premium Bonds. My friend has about that amount invested and seems to win at least £50 a month. It's not guaranteed but you would not lose out on your investment.
2006-07-31 03:17:15 · answer #8 · answered by Dazza 4 · 0⤊ 0⤋
bank it for now, that's what I've done .... I've got £200k stashed away for when something is cheap....
.. stocks/shares, risky right now, with wars in middle east looming, and only looking to get worse
.... gold, and other metals - you've missed the boat. Gold may rise on war fears now, and it is still on an upward trend, but it's already gone so far, your return won't be amazing, same with oil
.... Bonds. This could be an option, come off a lot in the least year, asint. rates have risen, maybe cheap enough now to get involved again ....
currencies .... I still like the short dollar play, a lot of value in that one to come ....
2006-07-31 03:18:35 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Income Trusts using a DRIP plan.
http://www.nabloid.com/investing/income-trusts/dividends.php
2006-07-31 18:24:28 · answer #10 · answered by ulchka 3 · 0⤊ 0⤋