I'm a 19, single, working adult. I have always been interested in investing some money.
What are some safe ways to invest my money. Are investing companies safe? I basically want to make money without the risk of scams, fraud, and bad investing.
If you have any information, do and don'ts, some advice... please tell me what you know on investing money. Thank you for you help!
2006-09-19 04:10:41 · 7 answers · asked by LZB217 2 in Business & Finance ➔ Investing
If you don't know what to do, just open a CD for now. You can easily get 5% yield right now.
This web site is a good source for comparing interest rates on CDs and savings accounts.
http://www.bankrate.com/
Spend some time and do some research to find what you really want to invest in.
This is a good website to learn about investing
http://www.investopedia.com/
PLEASE be wary of investment advice from strangers on the Internet. If you don't know how to invest, you will not be able to sort out the good advice from the bad.
The prior post recommends Ford, but how would that person know if that is a good choice for you? Do they know your risk tolerance or time frame?
2006-09-19 04:26:59 · answer #1 · answered by bookbyte 3 · 1⤊ 1⤋
If you want something that is low risk then invest in a CD (certificate of deposit) with a good rate at your local bank. Those are short or long term. That way your money will earn interest without you having to do anything.
You are young. If you don't mind the rest, invest some money in the stock market. It fluctuates but if the market is good you will earn a good amount in a short period of time.
2006-09-19 04:21:26 · answer #2 · answered by Lisa 5 · 0⤊ 0⤋
Parking your money in Mutual Funds is one of the best ways to invest. Even though there is certain amount of risk involved in it like market risk, liquidity risk, interest rate risk etc, but the risk which you feared of is certainly not there as Mutual Funds are thoroughly regulated by the Government.
2006-09-19 04:26:07 · answer #3 · answered by canakapalli 1 · 0⤊ 0⤋
I think you should invest money in your education (only if interested) or may be you could invest it in shares. I could be a good way to earn money and a great time-pass
2006-09-19 04:28:02 · answer #4 · answered by latika 1 · 0⤊ 0⤋
www.emigrantdirect.com
5.15 yield with no risk and no time requirements(cd). It's your best option. Stay away from stocks until you are ready to do serious research. Only stocks you need are if you have a 401k or IRA.
2006-09-19 07:05:20 · answer #5 · answered by tank_dogg2006 1 · 0⤊ 0⤋
invest in EFTs exchange traded funds, better than mutual funds no fund manage no fees they mirror major indexes, look at QQQQ, SPY and DIA very safe and should get a good return, I would do SPY only or QQQQ and DIA
2006-09-19 04:38:16 · answer #6 · answered by stocketrader24 3 · 0⤊ 1⤋
Ford stock is cheap and they are merging with GM I think if I had extra cash I would buy Ford stock!
2006-09-19 04:13:09 · answer #7 · answered by motherpeanutbutterbutinsky 6 · 1⤊ 0⤋