I want to invest in my future and the future of my 3 children.( college)
I also want to secure my finances for when I choose to retire in about40 yrs. I want to live comfortably! My job does offers a plan but its a basic.
I have about $2,000 to start it with but I want to make sure it goes in the right direction.
What programs are available to me? and how much risk is involved. I don't want to taken advantage of and I can only contribut a small amount monthly to help it grow. ( like $20-$25)
2006-09-23 17:24:49 · 7 answers · asked by want-my-advice 2 in Business & Finance ➔ Investing
I have been working in my job for 8 yrs. I am going to school to promote myself to a higher position. Which should take affect in 2 years.
2006-09-23 17:26:18 · update #1
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 75,000.00 and 30000.00 in taxble account. by follow simple rule
2006-09-23 18:17:41 · answer #1 · answered by Hoa N 6 · 1⤊ 0⤋
start off with a Roth IRA, open an account - you will need a minimum of $500 with most IRA's and learn how to buy and sell your own stock for the long term, maybe even listen to Jim Cramer on CNBC every now and then - but there are more people who become millionaires in the stock market than any where else in America. Good Luck.
2006-09-24 00:37:51 · answer #2 · answered by cortical contusion 2 · 1⤊ 0⤋
Put your money into a 401K plan at work if your company offers one. In fact, they might even match you contribution up to a certain amount each pay period, You will be pleasantly surprised how fast this money accumulates if you start right away; in fact, the sooner the better.
2006-09-24 00:29:36 · answer #3 · answered by backinbowl 6 · 1⤊ 0⤋
Well done. It makes me proud just to read of such a caring, thoughtful approach.
a) First step is to work toward 3 month's salary in some form of liquid account/savings/cd/money market.
b) Save for your kids according to their ages. Look into Series E bonds for them.
c) Read with them. Next to loving them, you cannot do a more important act in their lives to prepare them for their futures.
2006-09-24 00:47:57 · answer #4 · answered by Joe Cool 6 · 1⤊ 0⤋
retirement: 401k plan with matching, if not roth ira
kids: 529 plan
pick good funds nd stocks and contribute monthly for 40yrs and retire.
2006-09-24 03:10:48 · answer #5 · answered by hgary06 3 · 1⤊ 0⤋
Check out www.quarantz.com. They can make you a free personal financial plan and do have several investment options with guarantees.
2006-09-24 02:57:05 · answer #6 · answered by Patrick L 3 · 1⤊ 0⤋
try these links
its about offshore finance
http://www.lofinance.blogspot.com
2006-09-24 08:40:23 · answer #7 · answered by Axl Rose 2 · 1⤊ 0⤋