Ok im a kid that is 20years old and I make 60grand a year, What should Invest it in?

Answer 1

If someone were to show you a conservative approach to investing in the Foreign Exchange marketplace (Forex) to consistently earn more in a month than any bank would pay you in a year would you be interested to get a little more information?

Do you realize that if you were to invest $10,000 today in an investment vehicle that averages 8% per month that you would not have to work another day by the time that you are 25? Would you want to get a little more information?

You may even be interested in receiving a copy of an analysis that shows how a conservative Forex investment strategy has actually performed over the past 500 days. The analysis includes the actual daily currency pairs prices so that you can go back and validate the data if you are so inclined. Would you want to get a little more information?

Of course you would!

Send me an email and I'll send you some information that you will find quite interesting.

Paul
[e-mail]

Answer 2

Investing is a very important thing. You should probably first look at your monthly living expenses then decide how much of your pay are you willing to do without for right now. Once you have that ball park number in mind call an investment firm like Charles Schwab and let the professionals do the work.

If you are looking for an investment you can make on your own without the help of an investment firm or other perfessional the real estate market is at a buyers dream. You can buy tons of real estate cheap these days. Put a little money into some of these homes (new paint, new windows, etc.) and sale it for a profit. This takes time but can make good money.

A guy I know bought a foreclosed home for $30K put another 30K or so into it and sold it for $179,000.00 He made a $119K profit on a 6 mo. investment.

Answer 3

You never know how long a job or oppurtunity will last. So invest in yourself get an education. That way if the income should subside or not be enough for you (60K might seem like a lot now but get a car and mortgage and it seems smaller and smaller) you have an even higher earning potential. If thats not your gig, you should talk to a reliable finiacial advisior, Real Estate is usually a good idea. A lot of people buy townhouses and rent them out. Easy to do in a good school disrtict.

Answer 4

Screw saving for taxes, thats not going to make you anything. Oh and what kind of an answer is "buy a house, the markets low"??? If its low that means business is going down and no one is buying houses just selling. People are just sitting here and buying a house right now will lose value depending where you live but will most likely lose value and since the market is low that means its going to be hard to rent out. Find a strong business you can invest in or maybe stocks which can be risky. If your afraid of stocks I recommend a mutual fund where you get less cash but a professional does the stocks with you. I see a very good opportunity in Apple right now cause they have a bundle of cool things thats going to come out soon thats going to increase the stock in value (New I pod Video, new OS, ect.). But if you know how to write a business plan i say thats your best deal. Start a good business and sell it or maybe buy up your own successful coffee shop or resteraunt. Sounds to me like you might have enough for a down payment.

Answer 5

Congrats. You're doing well. Yahoo Answers is not the place to get investment advice. At your age and apparent investment experience level I would strongly advice that you get an experienced financial advisor who will only charge you a percentage of the profits he earns for you. If you have a 401(k) available, invest in that and open a Roth IRA. Don't forget to enjoy it too though. Money is like manure, it doesn't do you any good unless you spread it around!

Answer 6

If you're savvy with the real estate market, there's money to be made there.

You can buy houses - either ones priced below market value, foreclosures, or previous HUD owned homes and update them. It takes some upfront money, both in the purchase of the house and in renovation costs, but the payout can be beautiful.

For instance, you bought a single family home for 55,000. You put in 30,000 dollars worth of renovations into it. That makes the total cost to you 85,000 dollars. It's now appraised for 132,000, and sells for 130,000. You've just made a hefty profit. The trick is, though, is to finish the work before you pay much on the principle or interest on the mortgage. Use the profit to do a bigger house next time for a bigger payout, and keep doing them. I have a friend who "flips" houses, and now that's all she does. She no longer has to work or worry about how to put her children through college.

Answer 7

If you're really that young and you make that much money, you should be able to plow a good chunk of that into some growth funds. I would start plowing money into growth funds if I were you, a mix of domestic and foreign growth stock funds.

Before you know it you will turn around and you'll be 30 with a fat knot in the bank.

Answer 8

First, save for an emergency fund of cash in a high yield savings account or money market account enough to cover 4-6 months of expenses in case you lose your job. If your company offers a matching 401k plan then you save in there so you're not losing "free money" from your company. Then save in a tax advantaged fund like a Roth IRA with pre-tax dollars. Diversify with mutual funds: 30% International Fund, 10% Bonds, 60% Index Funds or a mix of Growth and Value stock funds. See www.fidelity.com , they handle my entire portfolio (for over 6 years) and they are awesome to work with. Keep in mind you may want to save $ for a house too.

Answer 9

If you are making 60 grand at 20 years old, you needn't invest in anything, you are so much smarter than the rest of the world that you will be just fine...

Answer 10

That's a pretty good salary for a 20 year old. Invest in savings and certificates of deposit. I assume with you also have a 401K plan, contribute the maximum annual allowable to that, since it is not taxed.