Where and how should I invest my money for quick gain? I don't want to have to pay penalties for withdraw.
2007-02-28 11:20:42 · 5 answers · asked by Jenna 2 in Business & Finance ➔ Investing
Be smart and invest your money somewhere safe. Forget about quick gains and I will tell you why.
Higher paying investments are more risky. You could try for high gains and lose your money.
A safe investment will have lower returns, but your money will be there when you need it.
A good and relatively safe investment is buying a house for you to live in. Get the place checked out by building inspectors too, if you do.
Another good investment is in a term deposit in a bank. Put most of your money into something like this for the best rate you can get FROM A REPUTABLE BANK.
Leave some money in a checking account, so you can pay your expenses without tapping into your term deposits.
2007-02-28 11:35:57 · answer #1 · answered by Peter 3 · 1⤊ 0⤋
Forget trying to make a quick gain. Everyone that tries to do that winds up losing their shirt.
If you don't know what you're doing in investing, you need to get some help from an adviser or get an education in stocks, funds, etc. before you start. The worst mistakes I've seen and the most money I've seen people lose have been by people that didn't know what they were doing and attempting to get rich quick.
2007-02-28 12:17:00 · answer #2 · answered by Faye H 6 · 0⤊ 0⤋
In general there's a relationship between risk and return with investing. With stocks (for example) you can make a lot of money quickly, but also lose a lot quickly, while with federal savings bonds or money markets you don't get a great return, but you can be certain that the money will be there. In general it's okay to be somewhat more speculative with money you aren't going to need in the near future. If you just want to start a retirement account stick in in the stock market. However if you're looking to pay for college or a house in a few months, I'd probably just stick it in a money market fund. Good luck.
2007-02-28 11:57:21 · answer #3 · answered by Adam J 6 · 1⤊ 0⤋
Yeah, I'd probably want to avoid the market right now...
2007-02-28 11:28:11 · answer #4 · answered by jaypea40 5 · 0⤊ 0⤋
ETFs.
2007-02-28 13:48:59 · answer #5 · answered by Anonymous · 0⤊ 1⤋