I have $10,000 that I am looking to invest, but not for the substantially long term. I will not need to worry about retirement so anything that plans for that isn't what I am looking for. CD's seem like they are made for people entering more than 10k for it to be worth it. What would the pro's and con's be a Roth Ira?What are my other alternatives? And no I don't want to spent it!
2007-11-01 18:14:57 · 8 answers · asked by Kristiin Knows 3 in Business & Finance ➔ Investing
I suggest you visit vanguard.com. They have many tools to help you find what kind of investment you are looking for. They will also help you determine your risk/reward tolerances.
Many people never hear about Vanguard because they do not advertise very much in the mainstream. However, they are one of the oldest and most respected companies in the financial world.
2007-11-01 18:50:27 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Roth IRA's are more of a long term investment where you can shelter your money from being taxed. CD's are a great investment and not necessarily for people with your amount of money not that you cant invest like that but they come in lower purchasing denominations for a reason. You might check out mutual funds, they are good investment a safe investment and depending on the fund you might be able to turn over a decent return in the mid term. The best plan would be to speak with a excellent financial advisor besides someone on here and look at what funds would be worth the risk you are willing to assume to gain the returns you want and then watch them and make adjustments as required.
2007-11-01 18:21:50 · answer #2 · answered by Jason M 3 · 0⤊ 0⤋
Roth IRA is dumb unless your going to keep feeding it until retirement. I would just put it in the longest term CD you are willing to do. That's not a large amount of money when you talk investing. You could also invest it in stocks/mutual funds but that too is long term. Don't expect to double your money no matter what you do in the next 5 years. Investing is a game of patience.
2007-11-01 18:20:00 · answer #3 · answered by wrestleben 3 · 0⤊ 1⤋
I am a professional investment advisor. I have found that there is a recurring problem with the questions that are asked on this site. There is usually not enough information being supplied by the asker to accurately answer your question.
What we can try if you seriously would like a professional answer would be for you to email or Yahoo Messenger me. Re ask your question and answer mine. We could then have more meaningful dialog and help you more efficiently. It now becomes one on one personal help. You can now compare my answer to the other ones you got on Yahoo Answers and make the right decision.
By the way for the others of you who are reading this response you can email or Yahoo Messenger me with any comments or questions you have and we can also have private dialog.
I will be happy to email you my full credentials when we connect.
2007-11-02 04:28:58 · answer #4 · answered by Richard Jackel 3 · 0⤊ 0⤋
Roth IRA is definitely NOT the way to go for what you describe. You have to decide the degree of risk you are willing to accept. C/Ds are good, but yield abouut 5.4 percent. Bonds can do a bit better, and stocks better than that (with the risk they can go down).
2007-11-01 18:20:02 · answer #5 · answered by cattbarf 7 · 1⤊ 0⤋
I opened up a CD with Citibank. Their APY is pretty good and
you can open it for six months.
https://web.da-us.citibank.com/cgi-bin/citifi/portal/ps/detail.do?M_M=S&BS_Id=SvgCDs
2007-11-01 18:23:29 · answer #6 · answered by Kim 4 · 0⤊ 0⤋
ira's are for retirement and have a 10% penalty attached for early withdrawl..............
open a acct with td waterhouse.........buy cd's .no commission.........
2007-11-01 19:06:11 · answer #7 · answered by richard t 7 · 0⤊ 0⤋
6040
2007-11-01 18:17:43 · answer #8 · answered by ernie_bargas 1 · 0⤊ 2⤋