If you only had $500. now to invest in a self-directed IRA would you keep it in cash or invest in other items?

Answer 1

Open a Roth IRA and invest in an mid-cap index fund. You will get good long-term returns (about 10% a year on average) and can withdraw them at retirement tax-free. If you hit any hard times, you can also withdraw your original $500 penalty-free.

Answer 2

I am an active and a very aggressive day trader. That being said I would not put my money in an IRA or and bonds or mutual funds, where I would only make peanuts for return.

If it was me I would search out a company with good standing and a history of making profits. I would look for a company that is getting ready to hit the market with an IPO(Initial Public Offering) at a fair price.

$500 is not a substantial amount of money to invest in anything really and expect outstanding returns, but it can grow if invested in the right company. I would invest and sell quickly and close my position and continue to do that until I made a substantial profit to invest in long term positions with companies that are paying a high dividend and a high yield rate. That is only my opinion which may not be suitable for you. Day trading is very risky, but there are profits to be made.

Answer 3

Why would you keep something in cash in a qualified account like an IRA where you pay no capital gains taxes. This holding should be aggressive, not conservative as long as your risk tolerance is the like. Invest in equity positions.

Answer 4

$1000 won't get you plenty indoors the quick term...ie RSP and Mutual funds must be out of the question. i ought to signify what I planned to be low-threat penny shares alongside with any of the oilsands or diamond mines in northern Canada suitable now. thinking the counsel those days on CNN, those shares will in person-friendly words pass up. Have endurance with them as right as they might tend to fluxuate. located the money in and don't verify out it for some 3 hundred and sixty 5 days...it ought to tend to make you hectic in case you do. Suncor or MBMI ... look-up those 2 places on google and word what you think of of. touch an Edward-Jones rep, they might help to and it quite is loose.

Answer 5

you can put it in an money market account and raise the minimum to open the IRA.

Answer 6

You can move that $ 500.00 into one or two ETF's and let it cook for six months or so....like 10 shares of MXE or something like that...
http://www.finance.yahoo.com/etf
Find out what they are and look for something low-priced...get your feet wet.
Good luck.

Answer 7

maybe try www.stock-exc.com