I have about 40,000 and I don't know where to invest it
2006-08-24 14:22:50 · 13 answers · asked by Anonymous in Business & Finance ➔ Investing
It depends if your goals are for short term or long term? I would assume that you are debt free and that you have your home paid off. Congratulations! Getting out of debt is the best thing you can do for yourself and your future. Have you made the largest contribution possible into a 401K plan? Since diverification is the key to success in investments, I would seriously consider keeping the money safe and then investing four installments of $10,000 in long term mutual funds (if you dont need the money right away) but not just one fund. Again, diversification is the key. Of that $10,000 per installment, why not put $2,000 into each of five top mutual funds over time? You could offer personal loans to people (cover yourself with promissary notes and collateral) to get at least 10% or more of interest. Don't toss aside the idea of making charitable tax deductible donations to reduce your taxes. I am sure that the right idea will come but think first about paying off any and all debts you currently have before risking your $40,000 on anything less than "safe" unless you can afford to lose it. There is no such thing as completely safe in our economy.
2006-08-24 14:37:23 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Pay off all your debts first. Put it in a CD while you read up on investing. Go learn about the Dow Dividend theory from the Motley Fool guys.
Maybe a Roth IRA..
Don't spend it, you might not see 40K again for a lonnnng time.
Good luck
2006-08-24 21:31:04 · answer #2 · answered by HowlnWoof 4 · 0⤊ 0⤋
what would you like to onvest in? Do you have a lot of money to invest besides the 40k or is this money just saved from a long time?...Paul, bluehalo@sbccglobal.net
2006-08-24 21:54:18 · answer #3 · answered by Paul N 2 · 0⤊ 0⤋
invest it in different places. so that way u make more profit. but make sure wherever u invest it looks stable and like it has a good future. hope u make many more thousands!!!
2006-08-24 21:29:30 · answer #4 · answered by Procrastination Kills. 3 · 0⤊ 0⤋
dont invest all in one. check out on line for latest in stocks. make sure they will be sound investments.for more tips on investing and stocks check out this site
2006-08-24 22:51:23 · answer #5 · answered by Anonymous · 0⤊ 0⤋
You need advice?
You need advice?
Listen to him - he needs advice!
Mr big business man - he's got too big in his shoes to phone his mother and ask for real advice.
All this money - does this money buy you good chicken soup?
Look at you - there's nothing of you.
A little plump round the waist - because you're eating the wrong food. You go to these fancy restaurants and they call you sir and they give you shmuck to eat.
Go home - eat in mammas kitchen.
And while you're eating - she'll tell you where to put your money.
2006-08-24 21:32:10 · answer #6 · answered by Anonymous · 0⤊ 1⤋
Carbon nanotubes.
I wish I had money to invest in them.
2006-08-24 21:29:41 · answer #7 · answered by Garrile N 2 · 1⤊ 0⤋
go to a broker or just inv est in some good diversified mutual funds. you can open an account at scottrade and it will only cost $7 per transaction.
2006-08-28 21:21:23 · answer #8 · answered by NunZ7777 4 · 0⤊ 0⤋
a car or condo something worth investing in
2006-08-24 21:35:53 · answer #9 · answered by ? 2 · 0⤊ 0⤋
If you are that clueless, where did you get $40,000?
2006-08-28 20:58:18 · answer #10 · answered by troyboy 4 · 0⤊ 0⤋