Lux Investing
What is better to invest in, Stocks, CDs, or high yield savings accounts such as ING Direct or E*Trade?
I have a few thousand dollars i would like to invest and grow. I have been told ING is good since its rate is around 4.15%, but i also see CD's that are a bit higher. Or should i invest in stocks and if so what is a good broker to go through.....i have no idea how any of this stuff works!
Public Comments
- I would stay well away from the stock market right now at least until the next big crash. ING Money market is your best bet for now.
- go for stocks and shares , go to your bank and ask for a brokers name and numbers( phone). you will be better of buying now as the prices are down and once they go up at reasonable price you can sell them you will make some good profit and if you do make some money dont forget my cut of the profit, good luck mate.
- The 1st 2 responders both have very valid answers. The main risk with the 2nd response is that the current trend may not be a temparary thing. It may continue for some time in which case the 1st responder has given a better answer. Since by your own admission you have no idea, take the 1st responder's advice.
- get the book get rich and stay rich by jim cramer. it will tell you all about the best places to invest your money. you can also watch his show on i think it's cnbc called mad money, it comes on at 6pm most weeknights. i've really learned alot after reading his book. he also tells you which mutual funds are the best, but if you're gonna invest in stock, you must do your homework before hand, or you could really lose your you know what. good luck, another point to think about is that money market accounts are good in that you still have access to your money,but they don't have very high interest rates, whereas i think with cd's and stuff you have to wait til they mature in order not to be penalized to remove the money. you could also go talt to a reputable accountant.
