I am 43, self employed and have $100,000 How can I make it even more?
2006-12-07 07:51:22 · 8 answers · asked by sltrk2000 1 in Business & Finance ➔ Personal Finance
Smith Barney Mutual Funds
2006-12-07 16:28:28 · answer #1 · answered by chol0757 2 · 0⤊ 0⤋
Before investing any money, you need to establish what your short and long term goals are, and what your level of risk tolerance is. Also, if you have any credit card debt, that should be paid off before investing in anything. After that, fully fund your SEP-IRA, Keogh, or whatever retirement plan you have through your business. Once those issues are settled in your mind, come back to "Answers" and I'm sure you'll get an eyeful of answers!
In the meantime, while you examine your investing goals, park the money in a high yielding money market account, like Emigrant Direct. Remember, the FDIC insurance limit is $100,000, so don't put your funds all in one bank.
2006-12-07 07:57:48 · answer #2 · answered by SuzeY 5 · 0⤊ 0⤋
Growth stock mutual funds. Fairly safe, and can easyily yield an average of 12% a year, which means your money doubles every 6 years. 100,000 becomes 200,000 in 6 years, 400,000 in 12 years, 800,000 in 18 years. Thats 1.6 million when you are 67.
Not to bad for hundred grand investment
2006-12-07 12:47:47 · answer #3 · answered by Casey J 3 · 0⤊ 0⤋
Send it to me and I will double it and send it back in 30 days. Seriously, I believe if you do not have a retirement account, you should start one with part of the money, pay off any debts and put the rest in a CD. Check your paper or the internet for the best rates. Guarantees are always good.
2006-12-07 08:38:25 · answer #4 · answered by deep5223 4 · 0⤊ 0⤋
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2006-12-10 11:10:40 · answer #5 · answered by ? 2 · 0⤊ 0⤋
Depending on your personal outstandind debt if any pay it off take the remainder and start placing it in some CD's to gain some guarenteed interest. I would really stay shy of the stock market unless you have a really good financal planner to work with.
2006-12-07 07:57:36 · answer #6 · answered by opyankees_06 6 · 0⤊ 0⤋
Half of it, invest in Stocks. The rest, in Trust fund. As the saying goes, do not put all your money in one basket.
2006-12-07 07:54:09 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Some in retirement or some other tax sheltered account. If you are in debt-pay them off. High interest bank accounts
2006-12-07 08:06:01 · answer #8 · answered by sis79 2 · 0⤊ 0⤋