I don't believe this. Rich. If so, what investments can guarantee you a rich man from a poor bum?
2006-10-23 15:17:02 · 4 answers · asked by Anonymous in Business & Finance ➔ Investing
none..and you know it...
investments take money and 90% of those who make big money has INSIDE HELP>
2006-10-23 15:20:50 · answer #1 · answered by cork 7 · 0⤊ 0⤋
There are no investments that can guarantee you a return except savings accounts.
The safest investments are things like mutual funds that allow people to invest in collections of stocks rather than betting on one company.
To prove that money is always being made in the markets look at this chart: http://finance.yahoo.com/gainers?e=us
This chart lists the stocks that performed best every trading session. Sometimes stocks double in price in a single day which means if you were to invest $100 and a stock doubled you would have $200.
Graciously
The Investing Sensei
http://www.investingsensei.blogspot.com
If you have any other questions, comments, or concerns you can contact me at:
My Site: http://investingsensei.org
Email: johnny@investingsensei.org
You can learn more about investing on these sites:
http://investopedia.com
http://investingsensei.org
http://barchat.com
http://finance.yahoo.com
http://cnn.com/money
2006-10-24 09:46:30 · answer #2 · answered by Johnny B 2 · 0⤊ 0⤋
Both real estate and the SP500 have histocially grown on average about 12% a year. Now the other factor is time. Time is very important in compound interest. Ten years will probably not be double your money compared to five years, it will probably be more.
The other factor is "rich." That's a tough one to crack on the difference between wealthy and well off. Is it $1 million or $5 million?
Making one million over ones lifetime is fairly easy. A person working for a net pay of $26,000 over 40 years will have taken home $1.04 million. Now if you want to put $4,000 in a ROTH IRA and make 12% on the SP500 for 40 years you will have $3.4 million in tax free money. That's why most wealthy people are old.
2006-10-23 15:37:03 · answer #3 · answered by gregory_dittman 7 · 0⤊ 0⤋
Consistenlty saving over time grows wealth.
2006-10-23 15:24:11 · answer #4 · answered by therego2 5 · 0⤊ 0⤋