I'm saving money up which is good. However, I need to know what's going to maximize my profits to the fullest with the money I have saved up. I already have a Roth IRA and mutual funds (aggressive growth) is there anything else I should add to my investment portfolio? Money Market Accounts, Certificate of Deposits, any others?
2006-12-11 07:24:47 · 9 answers · asked by Anonymous in Business & Finance ➔ Investing
International Investing....the world is growing faster than the US
2006-12-11 07:28:17 · answer #1 · answered by scottw2100 2 · 0⤊ 0⤋
It really depends on your age. The younger you are, the more risk you are able to accept. China funds, such as FXI, have been on a tear lately. If you want to go with a more diversified international approach I love JETAX. That fund is managed by the people that managed BJBIX, a closed fund that has done very well. Large cap value has obviously done well, if I hear about the DOW and it's new levels one more time I'm going to lose it (The DOW is only 30 large cap stocks and the media has made a big deal out of something relatively minor). You could go with an ETF that tracks the S&P 500 (SPY) or the NASDAQ (QQQQ) if you think that one of those indices will do well. You seem to think real estate is the best possible investment, if you believe that then put some money in a REIT, such as TAREX. REITs allow you to invest in real estate without having to repair roves and whatnot. I'm not a fan of bonds, CDs, or MMAs if you're under 35, but if you are risk averse you could allocate some of your portfolio that way. With all of that said, if you are in your 50s or older, you'll want to allocate more of your portfolio into fixed income such as bonds and less into reits, int'l funds, etc. Large Cap value is pretty solid no matter what your age.
2006-12-11 07:48:00 · answer #2 · answered by Mr Chris 4 · 0⤊ 0⤋
If all of your money is invested in aggressive growth mutual funds, you are at an extreme disadvantage. Aggressive growth has not done well. You need to be more diversified.
Consider some small cap fund, a foreign investment fund, and a large cap value fund and about 10 to 20% in t-bills to act as a cash reserve for when the market crashes.
2006-12-11 07:37:29 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I recommend maintaining at least one or two (or more) thousand dollars of emergency reserve in checking/savings/money market. (Also, pay off any credit card debt you have before you invest.) Beyond that...
If you need the money within the next 2-3 years, invest in a short-term bond fund.
If you need the money in a few years, but not within the next 3, and you don't mind the possibility of some losses, invest in a stock index fun. (I myself use Vanguard's 500 index fund. Vanguard is a good company, but there are others that also have low fees and that have integrity like Vanguard.)
If you don't need the money until retirement, invest in stocks and bonds within an IRA. Generally speaking, if you are in a high tax bracket right now, get a traditional IRA, and if you are in a low tax bracket right now, get a Roth IRA.
I'm not a fan of CD's. CD's tie up your money, and you can usually get a better rate of return in something more liquid.
Good luck and God bless!
2006-12-11 07:51:58 · answer #4 · answered by Minnesota_Slinger 3 · 0⤊ 0⤋
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2006-12-11 09:39:57 · answer #5 · answered by Anonymous · 0⤊ 0⤋
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2016-09-03 08:18:57 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Follow these baby step to Financial Peace
1. $1000 in a starter emergency fund
2. pay off all debts except your house
3. fund your emergency fund up to 3 to 6 months of your expenses
4. put 15% away for retirement
5. start college savings
6. pay off house
7. live in financial peace.
2006-12-11 08:57:58 · answer #7 · answered by iraqiwildman 2 · 0⤊ 0⤋
invest in yourself...
go for higher education. the payoff can be huge if you land a career paying much more than what you are making now.
2006-12-11 07:30:03 · answer #8 · answered by loveholio 5 · 0⤊ 0⤋
A little bit in everything will make your portfolio more versified and that's what you want.
2006-12-11 07:28:04 · answer #9 · answered by Anonymous · 0⤊ 0⤋