Investments with fairly small amount of money, low monthly salary?

Question

I know this question comes up all the time... Talk to me as if i'm a total idiot dealing with it however

I inherted $15,000 and spent $3,000 on a trip to Europe. I spent $10,000 on two acres of land which should be devolped soon.

I currently now have $2,000 plus $1,000 of savings, I'm a college student and make about $100 a month with an on-campus job I don't spend much. I'd like to invest something so in 2 years when I graduate I have a decent down payment on a home (sell the property plus investments)... How would I go about this, I've been looking at TRowePrice, However, i'm not sure how it works, I give them my $2,000 and they invest it? How do I pay them ect...

Answer 1

For only a 2 year time span, and for someone new, penny stocks are definitely NOT the answer. For T. Rowe Price, you call them, say you want to invest $2,000 now in of their XX mutual funds (you pick the fund, they don't) and if you are ready to invest $50 per month, every month until your account reaches their usual minimum investment of $2,500, they will send you an application form, you fill it out and send it back with a check. They will send you a confirmation statement stating you bought XX number of shares in XX fund. At the bottom of the statement there will be a form to rip off and send with a check additional investments (after you reach their minimum). If you agree to the $50 each and every month plan, I believe they automatically take it out of your checking account. Mutual funds are good for 10+ years of investing. Note that if you did this back in March of 2000, at the height of the tech bubble, the S&P 500 and NASDAQ are still below their high mark. For a safe investment for only 2 years, go to www.bankrate.com and get the highest yielding FDIC insured 2 year CD. Same up you monthy checks and in 6 months, get an 18 month CD, 6 months of saving later, a 1 year CD etc.

Answer 2

The average salary in Panama is only 400-800usd a month.I really do not understand how people can survive on that amount of money.My best friend's nephew immigrated there from Colombia and he's making 800usd a month in a winshield factory in Albrook.That's good money in Panama. I wish Panamanians could get jobs like that.

Answer 3

Well you could do a multitude of things, take some of it and invest it into a certified deposit, find a mutual fund club to invest in, and research some penny stock companies and find some shares to invest in, some reliable companies to open up investment accounts with are ameritrade but they require $2K to open up the account and the same to keep it active and open, sharebuilder is another good one with a minimum much lower and many diversified options also etrade is a good one as well. I have on hand a whole investment kit full with a list of 1500 penny stock companies and an investment guide as to utilize this list which was developed by a harvard business grad if your interested contact me and I could provide more indepth consultation andthe investment package i was reffering to. Good luck and Godspeed.

Answer 4

Anything you invest in such as mutual funds or stock may lose value. If you plan to use the money in such a short time span, you may want to look into a money market account or CD. It will be slow growth, but at least your principle will be protected.

Answer 5

you can try penny stocks
click here