2006-10-03 01:28:21 · 10 answers · asked by viren m 1 in Business & Finance ➔ Investing
You should be putting the maximum into retirement accounts before investing in the stock market.
I use my retirement account, (an IRA), to invest in the stock market.
2006-10-03 08:37:18 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Depends on a number of factors. First, establish a savings or money market account and make sure that you have enough set aside to cover a minimum of three months worth of living expenses. You need that cushion just in case something happens with your job.
If you are early in your career and can handle the risk of losing a portion (or all) of your investment, then I would be pretty aggressive in the stock market. I would go with about 80% into stock funds and the rest in conservative bonds or CD's. If you are more risk averse or are later in your career, then you need to trim your exposure to stock price swings and put more into the safer investment vehicles.
It would probably be worth the money to talk with a personal financial adviser in your area. They will take a look at your entire financial situation and recommend a plan of action that is customized to your needs.
2006-10-03 01:34:30 · answer #2 · answered by troythom 4 · 0⤊ 0⤋
WAY TO GO !!!! Keep up the good work on saving!!!
I would put half into a mutual fund within an IRA and the rest you can do in the stock market. Research various companies that interest you and that interest friends and family. Look around and see what they use everyday in life... Pick NUMEROUS stocks... Save up a few thousand, for example : pick out 6 companies that you like after you did your homework on those companies and have decided to invest in them. ((you can call any company or email them for their prospectus..its all free))
Then invest $1000 in each one for the long haul.
Keep adding monthly to your IRA and NEVER fall short of that... If you find yourself Short on money one month then work more...but DO NOT take or not give to, your IRA... things only grow if you add to them!!!
Also check out "msn money central" It has a savings calculator that will give you numerous variations on what you need to do to get to where you want to be as in terms of "amount of money" & "length of time" you need to do it.
Good Luck !
: )
2006-10-03 04:59:03 · answer #3 · answered by Kitty 6 · 0⤊ 0⤋
I would talk to a certified financial planner. But, I can tell you this. Keep a little of that OUT of the market, and make it an emergency cash fund.
That way if you lose your job, get hurt and miss work, etc, you don't have to dip into what is already in the market, and you wouldn't incur any tax implications.
2006-10-03 01:37:53 · answer #4 · answered by Brian 5 · 0⤊ 0⤋
Investing in stocks is NOT gambling. Can take a lot of risk or not. Some REIT funds like IGR still look good now - solid income & a discount ot true worth.
2006-10-03 03:56:15 · answer #5 · answered by vegas_iwish 5 · 0⤊ 0⤋
Dont invest it on the stock market because it is very unstable. put it on a certificate account in a bank that offers high APY like this one
http://www.bcu.org/RatesCertificatesIRAs.aspx
2006-10-03 03:41:02 · answer #6 · answered by Anonymous · 0⤊ 0⤋
It depends on your age and the amount of risk you would like to take. There are other variables. For example, if your employer would match that money you may be better off sending the $700 in that direction. Talk to a financial planner.
2006-10-03 01:33:03 · answer #7 · answered by movedtoMA 2 · 0⤊ 0⤋
If you do not have a traditional 401k through your employer, then open IRA and contribute to it monthly. You can save up to $452 per month in a traditional IRA.
2015-05-21 11:51:15 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Why would you want to gamble with your money? Stock investing isn't the best option, IMHO
2006-10-03 01:35:14 · answer #9 · answered by Anonymous · 0⤊ 0⤋
all of it
2006-10-03 01:30:09 · answer #10 · answered by Mr. Takafushi 5 · 0⤊ 0⤋