2007-08-18 04:06:12 · 4 answers · asked by jean p 1 in Business & Finance ➔ Investing
The simplest way to start saving without restrictions on your money would be to visit one of the following online banks and open a high-yield savings account that is FDIC insured:
INGDirect.com 4.5% Return
EmigrantDirect.com 5.05% Return
HSBCDirect.com 5.05% Return
$1,000 dollars is really not enough to start getting involved in stocks or mutual funds. Most "quality" mutual funds require a $3,000 initial deposit.
2007-08-18 08:39:18 · answer #1 · answered by Anonymous · 0⤊ 0⤋
in his education
the estimated rate of return on added dollars in his education is much higher than you'll likely get in the stock market indices.
this is true at all levels of education studied ... from finishing high school up through getting a professional degree. [There are a few exceptions for obviously over populated college degrees like teaching social studies.]
doing better than the market indices pretty much requires special knowledge and skills that most folk just don't have.
GL
2007-08-18 04:09:05 · answer #2 · answered by Spock (rhp) 7 · 0⤊ 1⤋
Mutual Fund is the best place
2007-08-18 04:08:47 · answer #3 · answered by Anonymous · 0⤊ 1⤋
If your son is young put it into a CD or an index mutual fund.
2007-08-18 04:10:49 · answer #4 · answered by SpankyTClown 4 · 1⤊ 1⤋