I am reasonably well educated in the market but I would appreciate good advice on long term investments for someone my age (19). Should I invest in individual stock, open a roth ira, mutual funds, indexes, leave it in a money market.... Please help!
2006-12-27 19:25:32 · 12 answers · asked by HETT 1 in Business & Finance ➔ Investing
It really depends on how soon you plan to use the money. Keep in mind that a Roth IRA is intended for retirement, but that such an IRA is void of many tax penalties for early withdrawal compared to traditional IRAs. Other investment strategies are better for the shorter term (5-10 years) because you can pull money out at any time. One of the best investments you can make is to take advantage of your employer's contribution program if they have one. When you invest, they match some percentage of your contribution, so you basically get free money right off the bat!
Money market funds typically have lower yield, and in order to use funds from that account, you must use them in certain increments, most being minimum $250 withdrawal. Mutual funds require a certain amount of study. Get a prospectus from the company and maybe play with the market for a while without actually investing any money to get a feel for how volatile investments can be. My economics teacher in college did that for us, and it meant the difference for me to the tune of about $15000 that I DO have today because I was able to invest wisely.
2006-12-27 19:34:50 · answer #1 · answered by Fergi the Great 4 · 0⤊ 0⤋
Don't listen to these guys selling you their investments first of all.
IRA sounds like what you are after. Read around to figure out if you want a Roth IRA or not. Also, you can invest in stocks with your IRA money you just can't take it out until you graduate (or in some situations to buy your first house I think).
Open at a discount brokerage online like etrade or tdameritrade and decide how much risk you want and find a stock or index fund that matches that and invest in that. Don't try to diversify or trade too much or you will lose all your gains in trading fees.
2006-12-28 03:58:03 · answer #2 · answered by chux52osu 1 · 0⤊ 0⤋
Dear Hett,
One of the options that you can consider investing in is Swiss Cash. Swiss Cash is a mutual fund product of asset management company SMF International Limited. The fund is a guaranteed capital fund and a guaranteed returns fund. Your investment capital is guaranteed against any loss and you are guaranteed a return of 20 % a month. The guarantee comes from the asset management company SMF International Limited. The minimum initial investment is only US Dollars 100. More information on the fund can be obtained from the following website : -
www.swisscash.biz/myari0554501
Regards,
Ariff Shah
Email : ariff.shah@yahoo.com.my
Yahoo Messenger : ariff.shah
2006-12-28 03:46:26 · answer #3 · answered by Ariff Shah 1 · 0⤊ 0⤋
If you are not an aggresive investor maybe looking for a long term investments maybe look into individual stocks but you should always diversify your investments. A good place to do your research is Yahoo/finance its a great source to give you ideas.
Mutual Fund is costly w/ its fees, but Index funds tends to be cheap... Do your homework before investing... Good Luck
2006-12-28 04:26:42 · answer #4 · answered by Rain L 5 · 0⤊ 0⤋
Fund a Roth IRA and invest it in a cycle fund based on the year you turn 65. We've done that for both our kids as part of their 18th b'day present. Truly we believe this is the best think you can do because of compunding.
2006-12-28 03:32:04 · answer #5 · answered by rcb26 4 · 0⤊ 0⤋
There is no sufficient information here to give you good advice.
Questions:
1. What is your investment target ?
2. What is your investment window (perfiod of time) ?
3. What is your risk acceptance level ?
are basic ones to tell you anything.
If anybody tries to give you advice based on given information, I can assure you that this has nothing to do with professional advice.
2006-12-28 08:35:41 · answer #6 · answered by efpol2000 2 · 0⤊ 0⤋
Buy a universal whole life insurance policy, which creates an instant 'estate' in the event you have an untimely death, but allows you to use the money any time you need it, and collects interest for you better than a CD, and you can never lose it.
In fact, buy it from me.
2006-12-28 03:28:41 · answer #7 · answered by SatinGun 2 · 0⤊ 0⤋
Hi
I think you should start your own forex/stock trading. I could introduce you to one brokerage company in Austria that allows to trade from same account currency (forex), commodities, metals and cfd on shares; total 500 instruments available. If you open trading account under my referral I provide you for free with trading techniques that I successfully use for several years and you’ll get my assistance in the future.
Another way you could find trader who accepts private investments.
Kindly inform you that I’m forex trader – analyst for five years.
If you are interesting please pm or e-mail me (press on my name) and I provide you with further information.
2006-12-28 03:37:38 · answer #8 · answered by VP 3 · 0⤊ 0⤋
lincon financial group , or some one like that . put it in there and leave it . Wish some one would have gave me that advice when I was your age.i wouldn't have to worry about money now.
2006-12-28 03:33:30 · answer #9 · answered by WESTERN M 2 · 0⤊ 0⤋
where do you get it drugs or some trust fund you spoiled brat-put in the bank or blow it some nice rims or spoiler for that car daddy bought you!!
2006-12-28 03:29:23 · answer #10 · answered by Anonymous · 0⤊ 0⤋