Lux Investing
How should I invest my money?
Im 22 and I wanted to know how I should invest my money. I dont want to do stocks, but I dont quite understand what a mutual fund is. I could probably spare about 25- 50 dollars a month.
Public Comments
- Get hold of the book "Investing For Dummies." It will give you a good overview of what stocks, bonds, mutual funds and banking investments are all about.
- Set an account with e-trade or fidelity or any other brokerage company and set up a 401k. You can link that account directly to your bank account.
- I think your should start purchasing books on investing in mutual funds first. You can also look out for websites that teaches people about investment but be critical about the information they provide. Next is to accumulate the savings to make an investment in mutual funds. I would suggest that later you should look at stocks because they do provide a higher returns compared to mutual funds based on my experience but of course you need a larger risk appetite for it. Hope it helps!
- To invest the proper way will take time to educate yourself about all of the options that are available. Thanks to techniques such as reinvesting your profits and compounding interest, it is possible for you to make a lot of money investing in a safe manner. The secret is to limit your risks. Try clicking on the source link I posted below to begin your learning process. I am not necessarily recommending the sponsor of that link, only their basic investment information. Good luck.
- Simply visit vanguard.com they can explain anything and everything you need to know about mutual funds. They are very well-known in the financial world for their customer service.
- If you want to be like most so called "investors" jump in and gamble your money away. The truth is like everything else you must put time and effort into investing to become sucessful. I would recomend reading somebooks such as the rich dad poor dad series, donald trump books, warren buffet books,( these books are very easy to understand even if you have no experience in investing)just to get started, and do some research also. Mutual funds is just fancy talk for stock brokers who think they know what they are doing. They are professional investors and simply invest your money into stocks they believe will go up, and charge you a small commission. Mutual funds usually give you a small but consistent rate of return. So it's probably a good start for you. Now before investing yourself atleast read a couple of books because otherwise your just gambling your money away or getting very lucky
- A 401k plan through your employer is probably your best bet; if one isn't available you could start an IRA (unless your income is unusually high, there's a number of tax advantages). It's generally not a good idea for most individual investors to buy stocks directly - you need 20-30 different stocks to diversify properly, which would be too expensive for most folks, unless you have $500,000 or so to invest. You could also look at an Index Fund, which tracks a broad stock index like the S&P. Choose one that has the lowest management fees, loads, and charges. Mutual funds tend to be very expensive as far as these administration charges go, and most of them (around 70%) don't beat the market, anyway. (ie, they perform WORSE than the Indexes) Only buy a mutual fund if it's the only way you can participate in investing. You certainly should participate in the stock market in some way, as equities (stocks) are the only investment that beats inflation, over time. (Bonds usually do worse than inflation, gold, precious metals, and commodities roughly match inflation, or beat it by 1-2%, not enough to cover taxes and transaction costs.) In your twenties, you're looking at a very long investment horizon - 40 to 50 years. You can take more risks than a 60 year old as you still have several decades of your career - and you'll come out much further ahead than someone who didn't start saving until their 40's.
- try http://goldenbullstocks.com
- i really dont know, i jus wanna say i think ur HAW-SOME
