I just became a first time mother and it hit me that I need to invest my money wisely for my daughter's future. I get really confused trying to decide the best way to invest my money. Long term? Short Term? What's the safest and most profitable way for me? I heard that american currrency is slowly losing value and that I should take my money and exchange it for chinese money b/c it's worth more. I heard China is becoming very powerful and it's monetary value is only going to get stronger in worth! Please help me! Give me some suggestions!
Thanks!
2007-01-28 02:29:56 · 21 answers · asked by jennyc0505 1 in Business & Finance ➔ Investing
Try going to an investment advisor; Smith Barney or Morgan Stanley or the like...if you don't know much about investing, it's not the type of thing you should be doing alone. A qualified professional should seek your goals, and the amount of risk you can take on, and make some recommendations, for a small fee.
2007-01-28 02:34:53 · answer #1 · answered by Jason 3 · 0⤊ 0⤋
The best thing to invest in, is in an investment education - it doesn't need to be expensive. Read a couple of good books like Rich Dad Poor Dad.
Generally - use what you have learned in the book to set up an investment plan, and then start executing that plan. Be prepared to make mistakes, accept them for the learning opportunities that they are.
Putting you money in a savings/ interest bearing account is probably the riskiest thing that you can do - You can be certain that by the time your daughter has grown, the money will not have kept pace with inflation.
Investing can be great fun, if you do it right - don't overextend yourself, and never invest in something that you do not understand.
Have fun!
2007-01-29 07:36:54 · answer #2 · answered by Piet Strydom 3 · 0⤊ 0⤋
Investment is a fancy word that really means nothing to people new to the concept. This is why it is better to consider the word "Investment" as a way of spending your money for it to make money and a profit over a period of time. It's as simple as knowing the difference between Assets and Liabilities... the more Assets you acquire with your money, the more investment you have done. I found a nice new website focussed on different ways of making Passive Income (Investing Money) http://www.flashadd.com and I think you should check it out.
2007-01-28 11:12:32 · answer #3 · answered by kiderkid3 1 · 0⤊ 0⤋
When you don't have this amount there is no worries but you already have some amount which can be spent in 10 sec or 10 days. Is this money brings you happy. Money just for spend to our needs but need more and more. So many other way to make it double and finish in a secconds. Invest the money for your kid and you for coming future. To live healthy life and wealthy life. Get passive income by being healthy. For more info go to source.
2007-01-31 01:34:11 · answer #4 · answered by ocean 1 · 0⤊ 0⤋
You don't go to a Chevy dealer to buy shoes, nor a shoe store to by Chevy's. Banks are for savings, checking accounts, CD's, loans, not for the best in investing. Insurance companies are for insurance products. If you want to invest, go to an investment company. First try www.vanguard.com. Click on "go to the site", then click on the tab that says "Planning and education" , then "investing basics."
If you can find a college, stores, real estate agents near where you live that take chinese money, then my all means exchange your dollars. If on the other hand, they much prefer US Dollars, like every business near me, keep your investments in "greenbacks."
2007-01-28 10:42:08 · answer #5 · answered by gosh137 6 · 0⤊ 0⤋
Wisely,i would have said. Look at the biggest growth of interest on whatever takes your fancy. You need to keep track of it, so make sure you know where to find it once you have parted with your money for the better. It may be better to place it in an high interest account with a bank or building society.
All the best
Ian
2007-01-31 08:22:50 · answer #6 · answered by Why cant i read my daily Emails? 3 · 0⤊ 0⤋
If I were you, I would put $3000 into a low cost Index fund like Vanguard's Total Market Index Fund. $3000 into a bond index fund like Vanguard Total Bond Market Index. And I'd put $3000 into a Money Market fund in case of emergency. This is a safe, conservative allocation that should make you some money while you research investing. And learn more about how to up your risk and return levels.
2007-01-28 15:08:37 · answer #7 · answered by Dennis H 4 · 0⤊ 0⤋
Just get some education on investments through local investment expos in your region. Afterwards find out about different kinds. Focus on those that interest you and learn about them well.
If you don't want to lose money, learn as much as you can about what you want to invest in. Never invest in anything you don't understand.
Although, the US dollar is losing value, it's still a major world currency and you should avoid having major worries about it.
2007-01-28 10:55:18 · answer #8 · answered by Muga Wa Kabbz 5 · 1⤊ 0⤋
Go to your bank and speak with the investment counsler. I know short term CD's are up to 4% right now. Thats about $400 every six months if you keep rolling it over. Ask about mutual funds.
2007-01-28 10:50:39 · answer #9 · answered by X-tina 3 · 0⤊ 0⤋
I would suggest you invest part of the money in building up your financial literacy by reading up investing books or attend investment seminars. Now the trend is to the European market, even China bet its currency againist Euro not US.
2007-01-28 11:24:51 · answer #10 · answered by Dang 3 · 1⤊ 0⤋