I am 24 and would like to start putting my money some where so when i retire i can live comfortably-- only thing is i do not have a huge lump sum to give someone i would like to start small real small and add a little bit each monh my definition of small is like 100 now and add maybe 25-50 a month it is not much but again i am young and hopefully some time down the road i will be able to put more $$ in monthly
i looked up bonds but the return rate is pathetic along with savings i cant save cd's need 500min it seems like so what is there 401k i am starting this but anything else?
thanks
2007-02-08 09:10:32 · 5 answers · asked by mypoints_2 1 in Business & Finance ➔ Investing
I'm 17 and Ive been putting my money in Cd's since I was 10 I now have enough money to put myself through the first 2 years of college. You may not have the money right now to put in a CD now but if you put it in a savings account and keep adding until you have enough sooner than you think. Some Cd's will even let you add on to them once their opened. Once you have a few Cd's you should consider laddering them that way you always have access to some of your money.
2007-02-08 09:21:47 · answer #1 · answered by Sabrina R 2 · 0⤊ 0⤋
Starting with at least $50, and adding $50 each month until you reach their usual minimum of $2500, you can invest in money markets, bonds funds or stock funds (I like the Retirement 2045 fund, it automatically adjusts the stock/bond/ratio for you. Its a real buy and forget type investment) with T. Rowe Price mutual fund family.
2007-02-08 19:29:00 · answer #2 · answered by gosh137 6 · 0⤊ 0⤋
Try to gain some serious funds with high yield forex opportunities.
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2007-02-09 11:48:15 · answer #3 · answered by Joseph 1 · 0⤊ 0⤋
Since you are just 24, it is good time to start investing in shares. You seem to want high returns. Which means, you must take high risk also. Would suggest that you go for shares.
2007-02-11 11:50:55 · answer #4 · answered by rinku 1 · 0⤊ 0⤋
I would recommend to invest in currency trading. You can really make good money provided you know which currency to buy and when to sell. Check the website below where the top forex trading programs have been reviewed. I feel it will definitely help you in selecting what you are looking for.
Hope it helps
http://money-review-site.com/investment.html
2007-02-08 18:11:39 · answer #5 · answered by Anonymous · 0⤊ 1⤋