I want to know what is the best way to invest money to make it work for you? Besides stocks which can be risky I'm not sure what else I can do to make money for my future.
2007-06-01 16:47:50 · 9 answers · asked by Curious 1 in Business & Finance ➔ Investing
One good thing is to find an investment counselor whom you trust. Any of the major brokerage firms have someone who can help you look at a variety of vehicles for your investments. Depending upon your age they can help you set up a portfolio that will change as you get older and change financially. Once you have a professional help you decide where to place your money you can then go to the on line traders and invest using their advice as well. There is no requirement to keep all of your money with a certain institution. Keep in mind, though, that if you wish to really make money there will be some risk. If you wish to risk very little, then you can use banks and cd's, but the gains are very small.
2007-06-01 17:09:05 · answer #1 · answered by udontreallydou 4 · 1⤊ 0⤋
Rule #1..... Don't take any specific advice from strangers whose qualifications and motives cannot be verified.
Rule #2..... The higher the reward.... the greater the risk.
Rule #3..... Stocks are a great idea (for those people that understand them)................. Basic long term investing is pretty easy.... but it does take some effort & time to understand..... anything else would be considered gambling (something you don't want to do!).
READ READ READ.... learn about stocks, mutual funds & ETF's.... Most important, read about "asset allocation".
Good luck. 30+ years ago I would have never believed I'd have so much cash, based on an average income. You can do the same.
Again: Avoid "easy" ways to make money.... they're the best ways to really lose it in addition to getting specific advise from strangers.
2007-06-01 17:20:02 · answer #2 · answered by Common Sense 7 · 1⤊ 0⤋
well, if you have $500.00 or more, you can open an individual investor account at scottrade.com. then, you can subscribe to the Investor's Business Daily, online magazine. The IBD is the brainchild of a fellow named Mark O'Rielly. He is a superb investor and he rates the stocks for you on four different key point of performance. The rating scale goes from an A+ to a D-. I did a 75% return in the last six months on average and one stock went up 210% in 9 months (some went down, some went way up, but averages are what you are after)
www.investors.com
2007-06-01 16:59:13 · answer #3 · answered by Anonymous · 2⤊ 1⤋
First: payoff any high interest loans
Second: Invest in your education.
Third: Your home.
Forth: Company matched 401K, if provided.
Fifth: IRA. Traditional if you qualify and can use a tax credit, and then a ROTH. Start with mutuals and diversify. Next, investigate ETFs, finally after you master the strategies, individual stocks. Then after you amass a significant sum, and only then, you can speculate in options- puts and call; but only buying them or using covered calls.
Sixth: Selling options, but only after about 20 years experience in the market.
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2007-06-01 17:06:13 · answer #4 · answered by SWH 6 · 1⤊ 0⤋
Invest in your education. that's the only thing without risks. good for your future. and yes.. you can make money...
2007-06-01 17:22:07 · answer #5 · answered by Abu Ali 2 · 0⤊ 0⤋
the best way is to invest your money in education first.
2007-06-02 02:01:55 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Well, it depends what amount you are talking about. There can be lot of avenues i know. it solely depends on amount of funds u have.
You can email me at stoxandmore@gmail.com for discussing more.
Web: www.stoxandmore.com
2007-06-01 20:18:52 · answer #7 · answered by Stox and More 1 · 0⤊ 1⤋
Commercial and/or seashore real estate.
2007-06-01 16:53:36 · answer #8 · answered by RocknReel 4 · 1⤊ 1⤋
You should invest your money in me via my paypal account.
2007-06-01 16:55:13 · answer #9 · answered by Anonymous · 0⤊ 5⤋