ok this is the deal. I earn abt 1000 per month intrest. What is the safest way to invest this money, cds, mutual fund etc.
2007-01-13 12:25:54 · 12 answers · asked by patrick b 1 in Business & Finance ➔ Personal Finance
Since you've asked this question on Yahoo! here is my advice...
First would be to avoid 99 percent of the advice you will receive in this posting...
With what you have typed, there isn't an answer, simply because you haven't provided enough information, nor should you provide the information that would be required for sound advice in this forum.
If you are risk adverse, you truly need the assistance of a professional financial advisor to assist you with making wise choices that fit you. There isn't a true and pure "SAFE" place... but there are several ways to attach building wealth when starting with a nest egg like yours...
Please consult a professional before investing any of your money
2007-01-13 12:40:28 · answer #1 · answered by ASUQB1 2 · 0⤊ 0⤋
1st of all not all of us are idiots. I help people everyday with type of question. However, to give you an answer that truly paints a picture of your goals and situation I would need your age, and plans for this money. Is it for retirement, is it for a house, is it just to sit and grow until you need it?
2nd. The words easy, fast, triple and safe do not go hand in hand.
Easy: keep in the bank and gain no interest
Fast: Put it in the stock market with a financial planner that will charge you every quarter and may lose all your money. No GUARANTEES, but could be fast and triple, or could be gone.
Safe: Buy a fixed annuity (not Variable) directly through an insurance company, not a bank or broker. The interest is guaranteed, and much higher than the banks pay, safe, and protected and guaranteed up to $350K in most states. You will not ever lose a dime in a fixed annuity, as long as you don't cash it out in the first year. The co. I work for would pay $1354 a month in compounding, tax deferred interest.
What you are getting at the bank may be $1000, but you are paying taxes on that interest every year
Let me know if I can give you further info.
2007-01-13 20:10:08 · answer #2 · answered by Susan C 3 · 0⤊ 0⤋
The easiest and fastest is definetely found in the foreign currency market. You have the benefit of high leverage with your investments and some interesting strategies to mitigate risk. I have been averaging over 20% per MONTH utilizing a conservative hedging strategy.
I'd be happy to share some additional information with you at your convenience.
Hoping you have a prosperous 2007.
Paul
http://www.teampip.com
2007-01-14 08:51:04 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Hi, There.
I don't know who you are, how old you are and what do u want in future. I'd like suggest that it is very hard to save that kind of money, but very easy to spend it. So if i am in your situation, then i will do like this. Take one of third of it and using for buying a unit at good position in wherever you think it is good place. take another one third invest in share market - it will give you some cash flow. And the last one third should kept in cash management account. the most of all take the 10 per cent of the profit whatever generated from it donate to the charity. it will give the prosperity on your wealth.
2007-01-13 13:35:45 · answer #4 · answered by David L 1 · 0⤊ 0⤋
I would place 75% in a REIT Fund and let it do the work for you
The other 25% should go into a Online Bank account, paying about 5% interest.
This is not guaranteed, however, is your best chance to triple your money.
2007-01-13 14:12:19 · answer #5 · answered by traderb550 3 · 0⤊ 1⤋
CD'S are the safest means, however, keep them divided in less than 100K each. Tripling this amount...well, that would take a while to do.
2007-01-13 12:36:47 · answer #6 · answered by Nancy W 3 · 0⤊ 0⤋
The easiest and fastest way to triple your money is betting $250,000.00 on Roulette and win and then bet on Roulette $250,000.00 one more time and win.
In case you have not figure it out by now. The easiest and fastest way IS NOT THE BEST WAY.
If you want to know the HARDEST and SLOWEST way to triple your money then drop me a line.
Top 4 Answerer.
2007-01-13 20:44:34 · answer #7 · answered by Anonymous · 0⤊ 1⤋
Don't play safe...put them in highest risky small-cap stocks that possibly start from 25k to 1 million in less a year.
2007-01-14 03:33:43 · answer #8 · answered by starsgirl021687 2 · 0⤊ 0⤋
You aren't seriously considering staking your future on what a bunch of internet strangers say, are you?
2007-01-13 12:47:48 · answer #9 · answered by Anonymous · 0⤊ 0⤋
legisi is a great way, the second link is a review of legisi
2007-01-13 12:55:27 · answer #10 · answered by slipstar_182 2 · 0⤊ 0⤋