I am looking to save about 10k-15k and would like to invest it. Im 21 and want to be at a better spot by 28??

Question

Can anyone give me any advice? I have always wanted to start my own business...maybe a franchise because it brings the least amount of risk. However, I am open to many things as long as they are investments than bring in residuals on a regular basis for the rest of my life. I am also an employee of an income in the lower middle class and anything I invest in will greatly backtrack me.

Answer 1

Buy a house.

There is no better investment than real estate. With a $5,000 deposit you can purchase a small house or condo for under $250,000 (in most parts of the country). Try to find a place that has young professionals in it if possible (or that would appeal to young professionals).

Live there 2 years and rent it for 3 more to avoid capital gains and then sell it for whatever you can get fair market. Even in a depressed are you will more than triple your investment and will certainly reap a substantial reward.

Reinvest, rinse, repeat.

Answer 2

If you want to be in a better place by 28 and have interest in starting your own business your best investment might be an education in finances and business but not through a college. Check out Loral Langemeier's web site www.liveoutloud.com and then call a strategist. I have read some of her books and just went to a seminar, she is amazing. If you spent your money on "Loral's Big Table" you will definately be in a better place by 28. She is called the "Millionaire Maker". She makes millionaires in 3 to 5 years. Watch her Tuesday April 10th on CNBC.

Good luck and have fun..........Shelly

Answer 3

Open a brokerage account at Zecco and invest in the ETF QQQQ.

Answer 4

Very good aspiration at this age and I sure that you will succeed in your best of endeavors but go steady and sturdy!!!

Answer 5

try www.nystockexc.com