I'm 21 years old and would like to start saving/investing for the future but I have no idea on where to start! I've heard of CD's but have no idea what it is. If you have any suggestions please feel free to share!
2006-08-23 12:56:19 · 7 answers · asked by badonkadonk85 1 in Business & Finance ➔ Investing
http://www.nohasslebargains.com/loan/investment_trading.html
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2006-08-23 20:42:42 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Cd's are just savings accounts at the bank where you agree to leave the money in there for a certain period of time, anywhere from 30 days to 5 years or more, in exchange for a better interest rate than a regular savings account. But that's really not a good investment for a young person like you because it's considered very conservative and doesn't pay much interest. Mutual funds are a good idea. you might try an "index" fund from a reputable fund family like Vanguard. Don't bother buying mutual funds through a broker- you can buy them directly from the fund company and avoid paying commissions.
2006-08-23 13:09:17 · answer #2 · answered by banjuja58 4 · 0⤊ 0⤋
Warning: according to various research, Carhart 1997 in particular, Mutual funds fail to outperform the market. There are also evidence to show that funds that do well before do not continue to do well in the future.
Your best bet is in index funds or risk free securities. (T-bills, fixed deposits, Certificate of Deposits etc)
Your best source of info right now might be: www.wikipedia.org
2006-08-23 13:03:10 · answer #3 · answered by Kurtosis 1 · 0⤊ 0⤋
Try contacting Primerica Financial Services. Their services are free, and they will give you a complimentary Financial Needs Analysis. This will show you how to achieve your goals and dreams that are specific to you. They will teach you how to become debt free and financially independent. (Rule of 72, Theory of Decreasing Responsibilty, Insurance Needs, etc). They are listed in the phonebook and on the web. Good luck
2006-08-23 13:02:45 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Find an evening course on Beginning Investing at your local college or high school.
2006-08-23 13:00:32 · answer #5 · answered by PanamaJack 2 · 0⤊ 0⤋
read tips on investing and stocks that will help you on this site
2006-08-23 13:03:08 · answer #6 · answered by Anonymous · 0⤊ 0⤋
hi, you can get some answer in this page:
http://www.bernanke.cn/what-is-a-mutual-fund.html
good Luck
2006-08-23 16:14:36 · answer #7 · answered by stock_trade_expert 3 · 0⤊ 0⤋