I am 23 and have some extra money. What is the best way to invest my money? I am wanting to know what is best for a quick return and what is best for a long term investment.
2007-02-04 17:57:15 · 8 answers · asked by mikevonarx 1 in Business & Finance ➔ Personal Finance
Really too vague of a question to give you a real answer. How much money? Do you have an intended use for this money? For what time frame did you want to save/invest before using the money?
2007-02-04 18:10:40 · answer #1 · answered by Uncle Pennybags 7 · 0⤊ 0⤋
There are 4 ways you can increase your income / net worth.
1. Own / partner in business
2. Stock Market Investing
3. Real Estate
4. Career or "W-2" job
You can use the money you have as a direct investment into the first three. The best investment for you will depend on your individual situation. The critical question is "How much risk will you accept without being emotionally tied to the initial investment?"
However you decide to invest, utilize your talents whenever possible. For some people that means reading stock charts and finding value. For others it means financing real estate. For some it means starting a business.
There is also a good article at the bottom of this page -
http://www.moneyandfreedom.org/index.html
2007-02-05 15:50:24 · answer #2 · answered by Ethan 3 · 0⤊ 0⤋
Dont go for the quick buck and stay away from hot stocks. There is no such thing as a hot stock. Read as many books on investing as you can. I recommend "beating the street" by peter lynch. What is some money? A lot of mutual funds start at 100k minimum....
The best investment is self education.
Don't let others decided what you should do with your money. Get advice but always keep the final decision in your hands.
2007-02-04 18:11:39 · answer #3 · answered by Anonymous · 1⤊ 0⤋
hi Daniel, positioned funds into your self. there are maximum of things suited now that are warm and could be ''in call for'' interior the destiny. Browse the information superhighway wisely and attempt to define those traits in keeping with what you're attracted to. Then make investments a while and a few funds to alter right into a professional (online representative?). I talk approximately issues like social media consultancy, search engine optimization consultancy and so on. and so on it relies upon...Then your payoffs would be extensive ! Please stay away of playing (forex) and everyone who's offering to coach you approaches to make riches in a single day.
2016-09-28 10:49:26 · answer #4 · answered by durrell 4 · 0⤊ 0⤋
buy a older house fix it up sell it or rent it then with the money you make do it again and again then youll be making some good cashola !!
2007-02-04 18:02:49 · answer #5 · answered by shana 2 · 0⤊ 1⤋
Either max out your 401k, or put it into a Roth IRA or both.
2007-02-05 00:48:59 · answer #6 · answered by Anonymous · 0⤊ 0⤋
save up money so you can buy nice stuff that's what i would do.
2007-02-04 18:04:34 · answer #7 · answered by Nathaniel C 1 · 0⤊ 1⤋
swisscash and eaindex
2007-02-04 18:03:25 · answer #8 · answered by snipaers 1 · 0⤊ 0⤋