Im trying to figure out where I should put my money. Any ideas? Good thorough detailed answers are appreciated :)
2006-11-01 15:38:58 · 6 answers · asked by Anonymous in Business & Finance ➔ Investing
Seriously, where to put your money depends very much first on how much money you have in the first place and then what kind of investment objective you have.
If you have a very large fund and your objective is stability and protection without regards to short term cashflow issues, you may want to keep your money in government bonds and Floating Rate Bonds. A good mix of these will allow you to hedge against interest rate risk involved in government bonds and give you the stability of bonds.
If you have a very large fund and your objective is stability and protection but you also need monthly or daily cashflow for your livelihood, then perhaps it is better to keep your money in high end real estate in mature areas, earning a relatively lower annual growth but with more stability. That being done, you should rent the place out in order to generate your monthly cashflows.
If you have a small fund and your objective is stability and protection with no monthly cashflow need, then you simply have to compare which bank gives you the best return on their fixed deposit an park it there.
If you have a small fund and your objective is stability and protection with cashflow need, then you probably might want to consider to buy a small rental unit for rental income or learn to do covered calls on the local index.
Interest rates fluctuate all the time. The interest that you see displayed on the board today can change by next month. So, comparing interest rates on saving accounts is by no means certain what you will get in the long term.
There are a lot of avenues and ways to keep and grow money and if you are looking only at banks and saving accounts, then perhaps it is time you start to do more reading and research on the area of finance. It is a wild wild finance world out there and there is no end to the new products and investment avenues that are being created daily. Depending on your personal financial situation and your personal investment objective, you need to be able to figure out what works for you and if you are unable to do that, prehaps it is time to engage a personal investment or finance adviser.
Just remember one thing, there is no such thing as "The One Perfect Way To Keep And Grow Money". Everything comes with a catch. Higher returns will come with a longer tie down period putting that money out of use for the short term and is frequently, but not always, more risky. Lower returns are frequently more stable and safer but does it mean your personal retirement needs by the time you need that money?
Money is a complex issue for the uninitiated but a pressing one. And that is exactly why it is so hard to make the right decision. Making the right decision takes the right knowledge and the right knowledge these days only comes with more reading and research.
One fact remains true despite all these talk, and that is, there is no safer way to grow money, keep it safe and fight inflation than taking personal charge of your own money instead of leaving it in the hands of any external agencies. Start learning today....
Hope these helps.
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2006-11-01 15:59:24 · answer #1 · answered by Anonymous · 0⤊ 1⤋
Neither. You have to adjust for taxes on income plus inflation. Anything under 7%-8% is an anti investment. The lower the percentage, the less worth you will end up because inflation and taxes will eat that investment up. Right now bonds, CDs and real estate are out. What's left is ETFs and stocks and we might be going into a recession soon (which if you wait for the bottom to fall out, it will become a great buying opportunity).
2006-11-01 15:52:04 · answer #2 · answered by gregory_dittman 7 · 0⤊ 1⤋
I can not advise you either way. But let me give the details of paypal. It will be useful to take a wise decision. PayPal is one of the most popular online money transfer systems widely used for online auctions, pay to surf programs, e-books and purchase of low value goods. It is now a part of the online auction website eBay. More details available at
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2006-11-01 17:17:50 · answer #3 · answered by Anonymous · 0⤊ 1⤋
I suggest a 10% Money Market Account.
If you need more free information you can email me.
2006-11-02 11:21:27 · answer #4 · answered by Anonymous · 0⤊ 2⤋
the higher the rate. but you have to factor in any fees, and the convenience for you, also.
2006-11-01 15:47:01 · answer #5 · answered by Anonymous · 0⤊ 0⤋
STAY AWAY FROM PAYPAL. they have robbed me, my family, and my friends. and they will rob you too. my advice is to STAY AWAY. :)
2006-11-01 15:46:40 · answer #6 · answered by Hasan 1 · 0⤊ 0⤋