Lux Investing
Best way to invest/make money?
i recently got aproved for a loan. im going to use it to pay off debt, and a car. i will have a good amount of extra cash. what do u recomend i do with the cash to make more.(like realistate, stocks ect.) i have no experiance what so ever. im a newbie when it comes to investing.any good sites , programs ect/ any help or advice would greatly be apreciate it. ive gotten too many loans in the past that i didnt use them wisely. i realy wany to do the right thing now for my future. thankyou for your help
Public Comments
- eat
- 1. If you have any debt that has an interest rate over 10%, pay off that debt before you begin investing. The reason for that is that a balanced portfolio of stocks and bonds will generate 10% return over the long run. 2. Invest surplus cash in the "Couch Potato Portfolio," which consists of a broad stock market index fund and a broad bond market index fund. It will return about 10%. See the link below. 3. Educate yourself by reading the educational materials at web sites like http://www.indexfunds.com/ , www.fidelity.com and www. magellan.com . 4. Continue your education by reading books recommended by those sites. 5. Make a concrete and specific financial plan for your whole life. Include your plans for buying cars, buying a house, educating your children, and your retirement. 6. Do not take advice from stock brokers (they get paid when you buy or sell, so they want you to buy and sell) or from people who have a scheme to beat the market. 7. When you gain some confidence in yourself, begin investing in the "Coffee House Portfolio," which consists of 10 index funds. It gave returns of 11% over the last 16 years, not much better than the Couch Potato Portfolio. However, since it is more diversified, it will have less risk. 8. Pay yourself first! Every payday, put money into your investments first. Start now and don't stop!
- For investing: You can go check out my website I can guarentee you up to 33% interest a year I reccomend the 2.5% interest compounded monthly http://www.indiplan.com
