i have a large amount of money to invest, my bank want to charge me a few grand to set up an account and a trust fund, if i have the money put into a cheque would another bank charge me to deposit it with them?
2006-11-22 18:43:07 · 9 answers · asked by oldsoulchild 2 in Business & Finance ➔ Investing
Invest in Berkshire Hathaway. With Warren Buffet at the head, I sincerely doubt they'll pull a Long Term Capital Management and NASDAQ if you catch my drift. DO NOT CREDIT ME IF YOU TAKE THIS ADVICE. I am apparently not licensed because I haven't attended business school. I'm, 13 so use my advice as a pathway or guide to point you in a good direction. Regardless, Hedge funds are the way to go.
Diversifying your portfolio is a must. Investing In stocks such as boeing, underarmor, microsoft, exxon, and berkshire hathaway will make a pretty diversified portfolio. Buying premium stocks entails less risk.
2006-11-22 18:52:05 · answer #1 · answered by Professor Sheed 6 · 0⤊ 1⤋
I shop around for my investments. You should not have to pay "a few grand" to set up a trust fund....this is ridiculous.
These days, the safest investment is 5% interest (app) in a building society or savings bank. Everything higher has a certain risk.
You could get a better rate (5.5%?) if you are prepared to put your money into a 1, 2 or 3-year account, but I would suggest no more than one-year, as interest rates may well rise.
Don't take one bank's word for it, but please do shop around...there are dozens of banks eager to take your money and there should be no, or very little charge for doing so.
Good luck!
2006-11-22 20:11:04 · answer #2 · answered by simon2blues 4 · 0⤊ 1⤋
Understanding your Question the answer is most banks will NOT charge you to open an account with even a small amount of funds. I am not a broker nor LFA yet would like to share a possible investment option. for more information send email to hagankenneth@yahoo.com
2006-11-26 04:49:36 · answer #3 · answered by canvasman 2 · 0⤊ 0⤋
Hello,
I once had funds to invest, and so my advise to you is DONT invest or place your funds in only one kind of fund or financial organisation.
When you have large amounts to invest its always about risk and your own atitudes towards risk. For example I'm a cautious invester so I didnt want ALL my funds invested on the stock market or soley in shares as I perceive that as highly risky. For someone like me, I wanted lower risk with more predictable growth over a longer time period. So I looked at high interest rate building society accounts which gives less exposure to the ups & downs of the market.
**have a look at someone like Chelsea Call Direct or ING direct.
**For very comprehensive coverage, & high quality information on a wide range of savings & investment products have a look at http://www.thisismoney.com
**Also be careful and find out how much the costs or managment fee will be before you committ your funds into an investment. A typical fee for a fund is around 1-2% of the fund.
a word of caution, beware IFA's independant financial advisers who will of course advise you for a nice fat fee. Beware of internal banking IFA's also they are paid commission & are baised towards you taking one of their products so may not offer you the best available deals either (sorry! but its abit of a mine field and not easy even for those who are upto speed on these things).
IR
2006-11-22 20:53:12 · answer #4 · answered by Anonymous · 1⤊ 2⤋
Check out some essentials on investing, under the investing category at http://www.hammocksurvivalguide.com/
2006-11-22 21:22:42 · answer #5 · answered by David S 2 · 0⤊ 1⤋
Hi, i suggest a great site with plenty of Issues related to your Investing and everything around it. it also provide clear and accurate answer to many common questions.
I am sure that you can get your answers in this website.
http://investing.sitesled.com/
Good Luck and Best Wishes!
2006-11-23 01:21:02 · answer #6 · answered by Anonymous · 0⤊ 1⤋
If you want safe investment buy property in Croatia. The prices of properties will go up and you will have a place to go for a holiday.
Regards,
D
2006-11-23 01:58:42 · answer #7 · answered by daniel i 1 · 0⤊ 1⤋
Seek Independent Financial Advice. Advisers in banks are only interested in commssion and can only sell you their own products. IFAs are duty bound to look after your interests.
2006-11-23 00:27:21 · answer #8 · answered by myownprivateroad 3 · 0⤊ 1⤋
I'm forex trader and I accept private investments.
I pay at least 5% monthly
Minimum investment amount US$2000 (two thousand)
So you may join me or invest with other traders.
2006-11-22 20:03:12 · answer #9 · answered by VP 3 · 0⤊ 3⤋