How did you first start investing your money???What tool and strategies did you use to gain your wealth???

Question

Thanks so much for your time and information.Sincerely,Tom Science 3

Answer 1

I started by investing portions of my salary into my company's 401K plan. If your company has such as plan and offer 401K matching, you should, by all means, contribute. Otherwise, you're essentially passing up on free money.

Also, I made sure that my investments were well diversified in my 401K. I had a bunch of funds to choose from, and rather than putting all my eggs in one basket, I dividing it up. That way, even if one or two funds fared poorly, I could rest easy knowing that the others would presumably preform.

I highly suggest you check out fool.com ( http://www.fool.com ). It offers some useful, basic investment strategies for getting started.

Answer 2

I started by "dollar-cost averaging" or investing the same dollar amount each month (ten bucks a month at the time!) in a Dividend Reinvestment Plan offered by the Power Company where I lived. By doing the same thing in multiple other solid companies, by increasing the monthly amount each year, and by paying no attention whatsoever to "stock advice" by so-called experts* who actually know no more than you do, I now have enough invested that it is all but impossible for me not to be at least comfortable when I retire in a few years.

Answer 3

First started with my employer's 401k plan...if you have one available, put the max amount allowed into it! Great tax benefit!

If you're more than 10 years from retirement, you can spead out your portfolio to include higher-risk/higher return funds. But always maintain a good balance of low to high risk.

Next, we worked on getting a really good credit score...got our debt to income ratio to the optimum balance to bump up our score to over 740. A good mortgage planner can help you do this as well as get you pre-qualified for a home loan.

Next, buy real estate...first a primary residence and leverage your equity to buy more properties. Once again, a good mortgage planner is able to show you how. Then, buy investment properties.

Use the profits to buy stocks, private and public investments, and more real estate.

Answer 4

Regular, "automatic" investing (pay myself first) plus a well thought out "asset allocation". If you're determined, read a lot on investing and recognize that these actions along with time will do the trick.... it will. We have more money set aside for retirement than most of my peers (in the same income bracket). We spent money wisely... but also went on nice vacations, etc.

We are "average" income earners. You can do it too!

Answer 5

My mother started me with putnam stocks, then I got into conglomerates..tools strategies..couldnt tell you, I leave it to Ryan my stock broker

Answer 6

Roth IRA.