My Goal is to have a million dollars in accessible assets (Excluding House, Property and retirement savings) by 40 (I am 28). My Wife and I are both employed with above average paying jobs and have considerable savings. I would like to start reaching my goal with relatively safe investments that do not require too much upkeep. Any Advice on how I can make and exceed my goal?
2006-12-13 05:43:59 · 6 answers · asked by Green Bean 1 in Business & Finance ➔ Investing
Congrats - I am on the same mission, except my wife stays home to raise our 2 children. I plan on making it to a million by saving and investing. I spend a lot of time researching stocks because I believe that the extra work will lead to gains that outperform the market.
A safe investment for the future is FPL - florida power and light, our nation's largest owner of wind farms.
I just bought Energy Conversion Devices, symbol ENER. I am very excited about this investment - here is a link summarizing their business:
http://www.top10traders.com/ViewPost.aspx?postID=197
This link is from http://www.top10traders.com - this is a free site that lets you create a portfolio of stocks with $100,000 in "play" money. Each day the site ranks the best performing portfolios, so you can see how your picks perform compared to other investors. You can also read posts on investing from the best traders, as well as share your own investing ideas. There is also a charting feature , so you can see how your portfolio performs compared to the S&P 500.
Here are this month's best traders:
http://www.top10traders.com/Top10Standings.aspx
Good luck.
2006-12-13 11:59:23 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Put together a portfolio of relatively safe stocks and investments and set up an account for yourself that you promise yourself WILL NOT BE TOUCHED under any circumstances other than emergency and contribute to that account a percentage of any income within your abilities.
2006-12-13 13:57:15 · answer #2 · answered by thellord_thighgod 3 · 0⤊ 0⤋
save $20 dollars a week each by 40 you should be rich. Take it up to $30 each a week if you can
2006-12-13 13:46:27 · answer #3 · answered by b_riley07h 1 · 0⤊ 0⤋
I'd Say property market in Foreign stable contries such as france are always good.
2006-12-13 13:46:16 · answer #4 · answered by oli 2 · 0⤊ 0⤋
The best place to start is http://www.4xmoneytrain.com
Watch the short product video and you will see how that can be achieved.
2006-12-14 07:11:06 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Continue developing assets (things that generate income) and reduce liabilities (things that do not generate income).
2006-12-13 13:47:21 · answer #6 · answered by Anonymous · 0⤊ 0⤋