2007-09-29 13:30:37 · 16 answers · asked by Fat Boy 5 in Business & Finance ➔ Investing
Your motto should be "get rich slow". Avoid any stock or investment which is promoted by a direct mail BS newsletter or internet scam. Do your own research.... start by going to the library and reading every issue of Money Magazine and Forbes for the past year.
There are lots of good sources of information,, but avoid taking seriously anything you hear from someone who is trying to sell you something.
2007-09-29 13:34:09 · answer #1 · answered by squeezie_1999 7 · 1⤊ 0⤋
When investing money. You would want to deversify your portfolio as to protect your interest and secure your stability. The higher intest investments are the most risky and a gamble. The lower interest vehicles are the most secure however, pay little in comparison with inflation.
The magic number you should keep in mind is '72'. If you divide the interest rate into 72 it will tell you how many years to double your money. eg; cd's was a previouse answer. Should it pay 4%.... 4%/72=18 Therefore, it would take 18 years to double your money, but a safe investment. Should you invest in 2nd, mortgages that pay 12% ......12%/72=6 it would take 6 years to double your money high risk investment..
If you invested $1,000 in each above. In 36 years you would have cd's=$4,000 and in 2nd mortgage=$32,000. So it would be wise to diversify your portfolio, understand your investments by research (not by someone else). Educate your self (knowledge is power).
2007-09-29 20:59:03 · answer #2 · answered by Michael P 2 · 0⤊ 0⤋
One way to make a lot more quickly, or equal likely, to loss a lot more quickly, is to bet on futures market, like betting on Crude Oil will go down, or Dollar keep go down, or Gold will go up to $1000.
If you're lucky, you will make many times your money. Otherwise, lose many times of your money.
Sounds fun? Better than casino :-)
2007-09-29 22:03:56 · answer #3 · answered by hahagoodguy 2 · 0⤊ 0⤋
Invest in a word!
http://www.wordhugger.com
2007-09-29 22:42:18 · answer #4 · answered by Collin L 2 · 0⤊ 1⤋
Brothels
2007-09-29 20:38:49 · answer #5 · answered by Anonymous · 1⤊ 0⤋
Property, and buy some Northen Rock Shares!
2007-09-29 20:33:12 · answer #6 · answered by Nayf 2 · 0⤊ 0⤋
Penny stocks. Very risky but you could easily double your money in a short period, or lose it as well.
2007-09-29 20:40:23 · answer #7 · answered by Norm 3 · 0⤊ 0⤋
Hedge Funds.
2007-09-30 00:43:36 · answer #8 · answered by Anonymous · 0⤊ 2⤋
Invest it in the government! LMAO!!
2007-09-29 22:40:40 · answer #9 · answered by chris j 7 · 0⤊ 1⤋
if you have no idea about the market, talk to a financial advisor from a reputable firm. he/she will look at all your assets/bills/etc. and assess what you want to accomplish.
remember to diversify...
2007-09-29 20:54:19 · answer #10 · answered by Thud 2 · 1⤊ 0⤋