| Hey From the Heart of Dixie... |
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ChucksForemanS
New Member
Cash: $ 0.90
Posts: 4
Joined: 12 Apr 2005
Location: U.S.
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| Hey From the Heart of Dixie... |
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Wanted to say hey to everyone on the forum and tell y'all I plan on spending much of my spare time on here learning financial success. Great forum!
Here's the main question from the essay below:
My goal is to have 1x,xxx invested somewhere with a decent return rate by December. I would be much obliged for y'all to post up any links or give any suggestions as to what to put this money in. I was thinking Roth IRA or something like along that line.
Here's my story for those who are interested:
I'm 22, a college student eager to LEARN how to expand my wealth. I have about 2 years left in college pursuing a degree is Mechanical Engineering. You say "Why is it taking you so long?" 1. Mechanical Eng. is a 135 hr. degree, and 2nd I'm having to pay much of my way the latter being most of the reason. I joined the AF Reserves to help pay for school and because 9/11 pissed me off, and I am currently co-oping through the University, which means 1 semester of school and 1 semester of work. This is where this forum comes in. I have a little money in my pocket now, and plan on investing beginning around May and more heavily in December of 05. My goal is to have 1x,xxx invested somewhere with a decent return rate by December. I would be much obliged for y'all to post up any links or give any suggestions as to where to put this money in. I was thinking Roth IRA or something like that. I should keep enough in my checking for hard times during the 2006 year as I will be in school and not working for Spring and Fall semesters but will be co-oping for the Summer semester to add to this investment. I will graduate in May of 2007 which is when the real games will begin. Thanks.
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Tue Apr 12, 2005 8:25 pm |
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xboxundone
Senior Member
Cash: $ 67.83
Posts: 796
Joined: 19 Sep 2004
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welcome to the forums enjoy your stay!
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Tue Apr 12, 2005 11:04 pm |
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Rolo
Yo' Daddy
Cash: $ 309.70
Posts: 1551
Joined: 13 Mar 2005
Location: Colorado/Florida
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First, an IRA is not an investment, it is a set of tax rules. Also, an IRA is for retirement, not in a few months.
If I understood you correctly, you will need the money in December..? If so, then your options are limited due to a short time-horizon and low tolerance for risk. A Money Market Account (MMA) is the only thing that comes to my mind.
The main deciding factor is: What is your risk tolerance and how much could you afford to lose?
"Expect me when you see me."
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Wed Apr 13, 2005 12:18 am |
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ChucksForemanS
New Member
Cash: $ 0.90
Posts: 4
Joined: 12 Apr 2005
Location: U.S.
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Ahh, I love being a rookie... 
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Wed Apr 13, 2005 3:35 am |
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Andrew
Admin
Cash: $ 460.25
Posts: 1695
Joined: 02 Nov 2003
Location: Texas
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Welcome Chuck!
Never too late to learn, that goes for everybody... 
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Wed Apr 13, 2005 5:04 am |
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Rolo
Yo' Daddy
Cash: $ 309.70
Posts: 1551
Joined: 13 Mar 2005
Location: Colorado/Florida
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quote:
Originally posted by ChucksForemanS
Ahh, I love being a rookie...
LOL! water almost thru my schnazz
It's a common misbelief...think nothing of it. Read The Truth About Money...awesome, entertaining book about a whole bunch of money/investment vehicles...not too technical, but not dumbed-down either. It's the perfect first book on the topic.
"Expect me when you see me."
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Wed Apr 13, 2005 10:25 pm |
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