My spouse and I want to save up $10,000 so we can get a $200,000 loan to build our house on his property.....we want to invest in GIC's to get a nice return on our savings. There are just so many bank plans and financial planners and GIC's and mutual funds to choose from...we have researched online but this is a big decision for us....is there anyone out there who has successfully received very nice returns on their investments? Which plan/company did you choose?We plan to put $1,000/month away to get to the $10,000...but which place/plan has the best return? Has anyone dealt with IGN direct I believe it is called? The return there is looking the best out of all the bank GIC's and other places I've looked online.....
2006-09-10 10:45:48 · 3 answers · asked by Lyn7480 3 in Business & Finance ➔ Investing
Well I want a big nice house, so any little $10,000 house is just not what we want. And "foolish and timid" miwtsmlw???? I don't freaking think so.....it's not like I said the best answer is what I will go with for sure because yahoo answers is just so reliable. We're just keeping an open mind and researching everywhere we can and asking everyone we know about where they invest and I decided to ask here.....no need for the low blow tryyying to make me sound like a moron because I want others input on the outcomes of their investments. If you don't have anything useful to say miwtsmlw try and keep your trap shut next time.
2006-09-10 12:09:20 · update #1
I think it'll depend on your risk tolerance.
Sounds like you've got a great plan, putting away $1K/mo. I hope you'd continue that beyond the trigger needed for your larger loan.
In most cases, your first $4K should be in a ROTH IRA which allows you to grow your money untaxed as long as you don't withdraw the money before retirement.
Anyways, back to your question. A nice conservative way grow your money might be to put it in a few well selected stable stocks in strong sectors. K comes to mind as one that's currently nice and steady.
A second way would be to do the above, but write covered calls on your stocks. This is an easy way to generate 12-50% returns/year (very very safely) while not having to invest a whole lot of time managing your investments (other than learning how to do this strategy correctly).
As for as mutual funds, I'd throw em out (just search for one of my answers on mutual funds if you want to know more detail on why).
Anyways, I hope that helps! I tried to take the essence of what you were asking and address it.
P.S. I agree, too bad for those people who ruin Y!A for those actually looking to make this a better place. Oh well.
2006-09-12 09:13:41 · answer #1 · answered by Yada Yada Yada 7 · 1⤊ 0⤋
Why not stop working, take the 10,000 and buy some nails and an axe, and build a small house yourselves?
http://housingpanic.blogspot.com/
2006-09-10 17:50:56 · answer #2 · answered by auntiegrav 6 · 1⤊ 1⤋
anyone who is foolish and timid enough to hope to get sound and ethical investment advice from a site like Yahoo Answers should just keep their money under their mattress
2006-09-10 17:54:16 · answer #3 · answered by Anonymous · 0⤊ 2⤋