I want to invest?

Question

Here's my story. My Job does not offer retirement benifits, I am well taken care of why I have not looked else where for employment. As it stand what I may make for SS isn't enough to live off of, which lets be real here, it won't be when I retire. I make about 1700 bring home, my spouse brings home $2000 , monthly our expenseses run around $1800 a month. I have no idea how to start with a saving plan. I know nothing about them other then. you put money away and it should increase. I don't like to gamble so I don't want to invest in a stock. Is there a way to invest with a company with out having to deal with a gamble? Also for someone wanting to start out what is a minimum investment? Any help or links would be appreicated. Thank you

Answer 1

First of all congratulations that in spite of your small income,you manage to live without debts and with a good rate of savings.

- You must start by paying off any debts such as credit cards etc.
- Then open a bank "no notice savings a/c" and put in sufficient money to keep you out of work for 3 months.
- Then start investing in a retirement plan IRA or Roth IRA and keep it up until retirement. The funds should go into an "equity income mutual fund". This will have an initial yield of about 4%pa but will keep increasing and will beat inflation, while a bank deposit will yield more initially, but the capital will be eroded by inflation.

Answer 2

The best way to increase your money, and some may say a necessity, is to invest in stocks. This is not so much considered "gambling" as say..the slot machine...it is more of an educated kind of risk. Anyway, you don't have to buy stocks individucally, you can invest in mutual funds, which are run by a fund manager...and they basically take your money, pool it with others' money and buy in different stocks for you. There are different categories, of course, like some may invest in big companies, small start up companies, some may just invest in tech stocks or real estate...it;s good to get a real variety. Another thing you can do is open an IRA, or ROTH IRA, they are retirement accounts you can get through any investment company and they differ in how you are taxed etc...
As to how much you should invest, you should invest as much as you can AFTER you have set aside emergency funds for yourself and family incase you are laid off...have a few months worth of money you need. Then, pay off any CC debt, then invest like crazy. Good luck!

Answer 3

To get bigger returns, you must be given bigger chance. Don't begin shopping man or woman shares. You are competing towards funding specialists, and you are going to now not win. Buy a maket index ETF like QQQ, which invests in an index and has very low expenditures. You are making an investment available in the market as a entire. Or, purchase a mutual fund, and also you pay a cost (a percent of your cash) to the managers for deciding upon your shares. If you believe that you'll be able to prefer the legitimate so we can decide on shares larger than all of the different specialists, then purchase a mutual fund, and the extended go back will probably be valued at the extended expenditures. Do now not idiot your self into considering that you'll be able to decide on shares larger than the professionals. If there was once a prime-go back, low-chance funding, the professionals could have already got jumped on it, bidding up the cost till the expeected go back matched the anticipated chance. Open a Roth IRA. Put cash into it. You won't get a tax deduction now, however the cash will develop tax-unfastened, and while you are taking the money out, you will not pay tax on it. Your tax cost while you retire is nearly surely going to be bigger than your tax cost now, so it is a great deal. (If you believe your tax cost will probably be cut back in retirement, placed your cash right into a consistent IRA, which offers you a deduction now, however the cash is taxed as consistent earnings now while you are taking it out at retirement.) Put the money into an index ETF like QQQ. DO NOT promote each time the marketplace drops. You desire to shop for low and promote prime, and promoting while the marketplace drops is the reverse of that.

Answer 4

IRA denotes the individual retirement account and can substitute or complement a 401 K. There are 3 varieties of IRAs available: Roth IRAs, Traditional IRAs and Simple IRAs. Traditional IRAs offer you tax advantages whenever you deposit or add money to your account. On the other hand, a Roth IRA offers you the maximum tax benefit when you withdraw money from your account. A Simple IRA is just like a 401K with lower contribution limit, but cheaper and has lesser paperwork.
http://debts-to-wealth.com/category/Retirement-Planning.html

Answer 5

Well, if you don't like to gamble, you should invest in IRA account either the Tradtional or the ROTH IRA would be fine. Another great option for you is buy Municipal Bonds.

Answer 6

Do you really believe investing in Pepsi is a gamble?
Do you really believe Pepsi is going to lose money this year?

I suggest you to open a brokerage acount at Zecco and I will help you for FREE. (I am a Portfolio Manager)

There are many films where you invest a few dollars and you make millions and where you are a millionaire today and you are a beggar in the next day.

Those films are FICTION.
They are for the masses.

Everybody (Poor) wants to be a millionaire.
Everybody (Poor) wants to see his Boss broke.

They are selling you a product.
They are selling you whatever you want to see.

Films are for your ENTERTAINMENT only.

You should not decide the future of your familiy based on what you know about the Stock Market.

Do yourself a favor and open the brokerage account (It's FREE) and I will explain you how to buy ONE SHARE (Just a few dollars) and how to sell ONE SHARE (Just a few dollars) and I will make $1.00 for you for FREE.

You will see the Stock Market IS NOT A GAMBLE.

Most people are afraid of what they don't understand but don't worry about it.

Answer 7

http://www.edwardjones.com/cgi/getHTML.cgi?page=/entry/index.html

I have been investing with this co. for several years. They are operated by local people. Like a franchise. Check 'em out. Look in your yellow pages or use the web site. You can open an ira or whatever you desire. They will give you forst rate advice, no rip offs.