It is close to $4000 so I want to invest about half of that in something worthwhile...any ideas?
2006-11-12 05:33:59 · 8 answers · asked by Cleo 2 in Business & Finance ➔ Careers & Employment
You could invest in an IRA which will help provide for your retirement. Or you could consider investing in Tax Lien Certificates. They are not available in every state, but you are not limited by where you live. You buy TLC's when someone has not paid their property taxes. In Colorado you receive interest (when the tax lien is paid) at 9%+prime. If the taxes aren't paid for a certain amount of time, you could end up with the property.
Talk to a financial advisor and see what really works for you and your needs.
2006-11-12 05:55:21 · answer #1 · answered by Dawn J 4 · 0⤊ 0⤋
If your employer has a 401K plan with any kind of match and you're eligible, first make sure you're putting enough into that to get the full match. Then you might consider a Roth IRA.
Do you expect to need the money you're planning to invest anytime soon? If so, CD's might be a good way to go - look around, not everyplace has the same rates. If you won't need it for a fairly long time, mutual funds could be a good place to put your money.
Good luck. And congratulations on saving that much on an entry level salary.
2006-11-12 06:47:48 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
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2006-11-15 11:36:51 · answer #3 · answered by Yo@FreedomRocks 1 · 0⤊ 1⤋
A low cost S&P 500 index fund. Have regular investments taken out of your checking account so you don't have to remember to make them and aren't tempted to skip them.
Don't bother with individual stocks or high cost investment advisors. Invest for the long term, avoid scams like the Forex and penny stocks. Avoid ANYONE peddling an investment to you.
Make sure the fund you choose has low fees, such as Vanguard.
Good luck and invest for the LONG term.
2006-11-12 05:38:50 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Look at savings bonds; you can get these done by payroll deduction.
Does your company have a matching fund for a 401K? If it does, try to maximize your contribution to get the most possible from your employer.
Whatever your do, I applaud you not waiting until later in your career to get this started now with your "entry-level salary".
2006-11-12 07:21:10 · answer #5 · answered by jpbofohio 6 · 0⤊ 0⤋
For a job that purely calls for a GED, it really is a very good starting up income. Your having a level can't get you a lot further funds for a job that doesn't require it. you may attempt to barter, yet you may want to finally end up dropping the interest that way. relies upon on what your different thoughts are. in the journey that they are providing $25K i might want to be genuine shocked in case you may want to negotiate it that prime - $27K perhaps, $32K not very likely. solid success.
2016-11-29 01:53:15 · answer #6 · answered by ? 4 · 0⤊ 0⤋
a 401k it is never to soon to start. I remember back in the "70 when they told me that when I retire in 2011 that I started to laugh and now I wish i would have taken them a little more seriously.
2006-11-12 05:45:57 · answer #7 · answered by norsmen 5 · 0⤊ 0⤋
invest in caring, st jude hospital, tennessee, u will help all the kids and u will feel great about yourself, and its all tax deductable
2006-11-12 05:43:42 · answer #8 · answered by tigger 2 · 0⤊ 0⤋