What is the best financial investment plan?

Question

What is the best financial investment plan for stocks and mutual funds for disabled military veterans who earn compensations and they are nontaxed income? I am 37 years old now. How can I start investing now to have a good nest egg by the age of 60?

Answer 1

Start as soon as possible. Reduce debt. live under your budget. When personal responsibility will determine your nest egg, not social security.

Yes you could learn invest by yourself. it is your money, you should know how to do with it. for starter check this site out.

http://www.pathtoinvesting.org/index_fla...
http://www.stockcharts.com
http://www.streettalklive.com section university. a lot amount of information. It will serve you well
I accumulate in good amount in 401k at the young age.I could share with you. when consider invest in stock market. you should consider basic 3 things:

fundamental analysis==(economic data,finincial health, management, business model, competetion)>>what to buy

technical analysis==(chart+indicator)>> when to buy

Sentiment/schycho analysis==>>mood of investor, Contrarian point of view.
Market cycle===>> check out book Trader Almanac by jeff hirsch will give you inside stuff
When you combine 3 thing, It is one of the powerful knowledge goinh with you for the rest of your live

At the age of 32. my 401k is amassed 74,000.00 and 30000.00 in taxble account. by follow simple rule

Answer 2

At this point you are looking for reliable savings and not risky growth on your money.

Stay away from individual stocks; put your money into reliable mutual funds and safe money markets. Make sure you put a little into a regular cash savings account each month.

Your best plan is to stick with your plan; be consistent; not micromanage your investments and don't get nervous or greedy.
Be a smart consumer; don't get caught in the fads and ads. Remember, corporations are only trying to figure out to take your money, not help you.

You may also want to check into a good home business; one that is risk free; one that is about real product that real people use everyday and one that you can slowly build into a sizable income over the next 10-20 years. They do exist but you have to be very careful.

Do you know the people who accumulate wealth the best are people who stay away from a lot of television and give to other people in need. Figure that one out.

good luck.

Answer 3

The key IS to start now as in this minute. No big hemming & hawing. Can start investing in some Index funds for $500/$1000 through schwab.com or the like. Every day you waste thinking costs you a lot of money 23 yrs down the road. can e-mail me for more direct info if want: [e-mail]