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  • Investing money?

    Ok, I am sitting on about 10 grand that isn't really doing anything other than burning a hole in my pocket. I want to do some investments/stocks to see my money grow. I had it in a savings account at my back for about a year now and I think I only made about $20 in interest...I know that I can make more. I am not very familiar with this sort of thing. Anybody got any advice for me?
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  • #2
    Re: Investing money?

    Emperors Club...j/k...My mom had a sizable about of money when my dad passed away. She invested in a company that sells cars to people with really bad credit (these cars are eqiupped with a device that shuts the engine off if payment is late) and she gets 12% interest. Seems really good. I can get the name from her if u are interested in that. I don't know if there's a minimum amount or anything. Again, I can find out from her if you would like to know more.

    Kudos for saving that much as well...that is my greatest weakness.
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    • #3
      Re: Investing money?

      dam that sounds like a funny car and a good idea! but potentially risky. Investing in just one company is a risky venture anyway of course

      India is a good market at the moment if only because they are not so reliant on the west for growth and because of our present troubles (relatively) thats a good thing if want more then 20$ a year.

      25% of the worlds under-25s are living in India (china has its one child policy of course) and 60% of Indias population is under 30. Why'd you care? because that means its a growing country not a top heavy aging population like most rich western countries.


      JP Morgan do an investment trust for india, check out the figures and you should be impressed compared to any market closer to home.


      If you find yourself in a fair fight, then you have obviously failed to plan properly.

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      • #4
        Re: Investing money?

        If you might need the money in the next 5 years, I would put it in a savings/money market account or in CDs. Go here to find the best rate: http://bankdeals.blogspot.com/search...?max-results=1

        If you aren't going to need the money for over 5 years, I would put it in a "growth" or "growth and income" stock mutual fund. There are funds out there that have been around for decades and have never earned under 10% in any 10 year period. Of course, in a two year period, the fund might've lost 10%, so this is only a good bet if you can let your money sit there a while...
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        • #5
          Re: Investing money?

          Yea good advise, dont aim to invest for less then 5 years. Of course you could get lucky and pull it out after 2 with a nice profit just dont bet on this being possible, it could be costly
          Only gamble what you can afford to lose of course


          If you find yourself in a fair fight, then you have obviously failed to plan properly.

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          • #6
            Re: Investing money?

            Oh, and if you're interested in talking to a financial counselor, I recommend looking for one at www.DaveRamsey.com He only endorses counselors that have "the heart of a teacher" and he recommends that you find an investment counselor that won't tell you what to do, but rather will explain to you how things work so that YOU can decide what to do.
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            • #7
              Re: Investing money?

              Originally posted by CingularDuality View Post
              Oh, and if you're interested in talking to a financial counselor, I recommend looking for one at www.DaveRamsey.com He only endorses counselors that have "the heart of a teacher" and he recommends that you find an investment counselor that won't tell you what to do, but rather will explain to you how things work so that YOU can decide what to do.
              Dave Ramsey's my hero! I listen to his show all the time. Glad to see there are some other fans 'round these here parts. :D
              "Common sense is not so common." -Voltaire

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              • #8
                Re: Investing money?

                This is what I would do, if you don't already have one.

                http://www.rothira.com

                I would open a Vanguard brokerage account and put the money into Vanguard 500 Index Fund (VFINX) and leave it there.

                $5000 limit this year. I would put the other $5000 Here https://bank.countrywide.com/CWBRates.aspx till next year or here if you want your money to be liquid https://bank.countrywide.com/default.aspx

                You can pull the money out tax and penalty free if it's being used for buying a house or educational expenses before age 59 1/2.

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                • #9
                  Re: Investing money?

                  oh yea forgot to mention...should the company, she invested in, go under, she has a list of about 35 cars that would be hers. I haven't seen the list lately so I don't remember exactly how many. And yea, she did put quite a bit into this thing. Put it this way, she gets $1000 a month for it.
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                  • #10
                    Re: Investing money?

                    Copper. I'm not kidding. Prices should go up, as the Earth is running out of the stuff. Estimates say there's about 9 years worth of accessible copper left. Good long term investment. But hey, what do I know? I'm 15. :P
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                    • #11
                      Re: Investing money?

                      Originally posted by brain21 View Post
                      Copper. I'm not kidding. Prices should go up, as the Earth is running out of the stuff. Estimates say there's about 9 years worth of accessible copper left. Good long term investment. But hey, what do I know? I'm 15. :P
                      Estimate by whom?

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                      • #12
                        Re: Investing money?

                        Yea Ive heard the same, about 30 years ago and every 5 years since then. Any day now we'll run out of all sorts of vital resources and other doomsday predictions.

                        When or if that happens you'd be better off investing in the technology that negotiates the problem then grasping for the last few drops, plenty of people allready have that idea and you dont make money from following the crowd so much as anticipating them.

                        Again a single investment is very risky


                        If you find yourself in a fair fight, then you have obviously failed to plan properly.

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                        • #13
                          Re: Investing money?

                          Actually, one thing I do know is running out, is Helium reserves.

                          Non-renewable resource that comes from Natural Gas deposits. The US is sitting on the biggest reserve, and given current consumption levels, it'll be dangerously low in 8 years.

                          http://news-info.wustl.edu/tips/page/normal/10754.html

                          Scientific American recently had an article saying the same thing.

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                          • #14
                            Re: Investing money?

                            I have a personal brokerage account, as well as my (and my wife's) company 401K accounts with Fidelity. I also subscribe to a monthly newsletter (Jim Lowell) that focuses on Fidelity funds. Sometimes Fidelity can seem big, cold, and indifferent (kind of like Microsoft), but they do have good products and their web access is second to none if you like to actively manage your accounts, which I do using Lowell's newsletter as my guide. The newsletter's around $170/year, but I've averaged around 12% return for the 10 or so year's I've been using it.

                            As has been said above...long term investing works best.

                            Snarlin


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                            • #15
                              Re: Investing money?

                              Try real estate dude! Build an apartment or something... You don't have to worry about getting bankrupt cuz that apartment will always be yours

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