Lux Investing

IF u had 70k cash..whats the best route for investing it besides putting in in a high yield savings online...?

Public Comments

1. Some in 401k, in savings, in stocks and whats left I would try to setup a online business. (and of course i would use some spending money) Take a look on this site http://www.moneyaside.com for some tips on how to make money online - work from home - Just Tips No Tricks.
2. Go to Fidelity, Meryl Lynch, or another broker to set up a retirement account consisting of mainly mutual funds earning at least 12% over the last 10 years. My favorite funds are those that have been around since at least 1985 and have a return of 15% or more, but they are few and far between. Investing at 12% will mean your money doubles about every 6 years. So: 2007 = $70,000 2013 = $140,000 2019 = $280,000 2025 = $560,000 2031 = $1,120,000 Not bad after 24 years with NO additional saving. Assuming you have no debt, put all of the money into your mutual funds. If you have credit card debt or some other type of loan, pay it off and then save the remainder. However, the key here is to make sure that once your debt is paid off, don't run your credit cards back up or you'll have just wasted your money!
3. This question is VERY open to interpretation, so everything anyone writes is an opinion. That being said, here's mine: The best route depends on your age, how much you have saved for retirement, how much emergency savings you have, and how much other savings you have. The first goal is emergency savings. You should have emergency savings of at least 3 months of your total expenses. This gives you a buffer if you lose your job. The second goal is paying off credit card debt. Paying off a balance on a credit card is like investing money and making 18% or more a year on it with absolutely no risk. NO investment account is going to give you 18% returns a year, especially with no risk. Plus, your credit rating will improve, which will save you money later when you buy a car or home. Then there's retirement. If you are in your 30s or older and have little or no money saved for retirement, that should be a huge target. You are the only one who will fund your retirement. If you need tax savings to bring down your tax bracket, an IRA may be the best way to go. Otherwise, a target date retirement fund is your best bet. To get the most out of your money, you need to invest it in stock, bonds, and other traded items, with proportions changing based on retirement age and the time left until that point. Unless you are a professional, you are much more likely to lose your money managing it than gain any. A target date retirement fund automatically invests your money in the proper proportions in these markets to give you the best return on your money with the lowest risk you can afford to take. As you get closer to retirement, proportions change to keep your money safer. The best place to invest funds can be found through Vanguard. Vanguard has the lowest asset percentage fees, so even when the market is slower and returns are diminished, you are still making more money in relation to other people because less is being taken for administration costs.
4. It depends on how much risk you can tolerate. No risk - government t-bills Low risk - bonds Medium risk - mutual funds High risk - individual stocks. These are only a few options, there are many more.
5. Take the 70k get a self directed IRA flip real estate tax free in it! Triple it in a year !need info e-mail me