joemeca
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Cash: $ 2.65
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Joined: 26 Mar 2006
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| 17 and hungry |
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Hungry for some $$$ I have been saving and have around 10k to invest where do you guys think is the safest place with the most roi.
Thanks joe
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Thu Apr 06, 2006 4:50 am |
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augfan77
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Joined: 07 Mar 2006
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| Hungry for $$$$ |
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Share market would be the most viable option.. ... you can take help from known share advisor. Also small investment company runned by say individual would be another option. 
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Thu Apr 06, 2006 11:26 am |
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joemeca
Member
Cash: $ 2.65
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Joined: 26 Mar 2006
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any examples or links to check out 
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Thu Apr 06, 2006 5:49 pm |
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Stock Mama
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Safest thing is to park the money temporarily in your bank account (perhaps a money market account) and go to the library to find books on different kinds of investments. Read up on CDs, bonds, stocks, mutual funds, REITs, etc. Decide what your financial goals are, and then decide which kind of investment would best suit your goals. Make a plan, then go for it.
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Thu Apr 06, 2006 5:53 pm |
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rockhound
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Location: West Virginia
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| Interplay |
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It depends on how much importance you will attach to the concepts of "safe" and "roi", respectively. If keeping your money safe, with very low risk, is the most important thing to you, then check out mid-term CD rates. A 13-month CD right now is about 4.5%. That's probably about the best interest rate you'll get from a bank. Beyond that, you'll start incurring risk from kinds of investments that offer higher potential returns, like mutual funds.
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Thu Apr 06, 2006 10:33 pm |
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eversun
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A bank is one of the safest places to stash your cash since your account is insured against loss by the federal government for up to $100,000 per depositor.
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Fri Apr 07, 2006 6:58 pm |
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mbd
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Location: Rogers, AR
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It sounds like you're the kind of person who likes to take a risk now and then in order to reap the bigger profits available.
You have $10K at 17. But your most valuable asset is your time. If you balance your investments, you could be a rich man someday if you just don't touch this cash again.
I recommend a balanced and diversified portfolio for money you can't afford to lose. Keep all your retirement funds, college savings, etc. there. You'll also need an emergency fund.
If you have funds that you CAN afford to lose, you can speculate. I don't offer any advice on how to do this, since there are plenty of ideas about this out there and most of them are about as reliable as flipping a coin or throwing darts at the financial page and investing in whatever gets skewered.
Just understand the difference between investment and speculation, and act accordingly.
I hope this has been of help to you.
Michael
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Fri Apr 07, 2006 7:21 pm |
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joemeca
Member
Cash: $ 2.65
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Joined: 26 Mar 2006
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yes, you guys have giving me a few great ideas. Thanks guys!
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Sat Apr 08, 2006 3:23 am |
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TeenInvestor
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Location: Minnesota
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Depends on what you want to do. If you just want somewhere to put it, I would suggest a growth mutual fund. If you want to be active I would put it in a 13 month CD while I studied various methods of investment, then use that knowledge youve gained over the last year to use.
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Sat Apr 08, 2006 4:16 am |
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Kiaser
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quote:
Originally posted by eversun
A bank is one of the safest places to stash your cash since your account is insured against loss by the federal government for up to $100,000 per depositor.
I disagree. Bank accounts are just loaning your money to other people. Even a savings account is generally worthless unless it gives you a hefty interest rate that can beat inflation + taxes.
Sure, you can be FDIC insured. But remember your FDIC guarantor is the same county that has a 7 Trillion dollar debt. Also, in this day and age it's more than possible that FDIC insurance may not ever make it back to you in an event of bank failure due to fraud, incompetence, account handling and paperwork of said bank. And if a bank was to fail it could be years until you receive your money back (of which inflation would eat away at and missed opportunities to invest elsewhere could be lost).
Having access to spending money is a must, but there are other options beside checking or savings (such as money market funds that let you write checks from it).
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Wed Apr 12, 2006 8:19 pm |
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mbd
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Location: Rogers, AR
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quote:
Originally posted by Kiaser
... remember your FDIC guarantor is the same county that has a 7 Trillion dollar debt.
True, but when was the last time someone tried to collect it?
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Wed Apr 12, 2006 8:26 pm |
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Kiaser
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quote:
Originally posted by mbd
quote:
Originally posted by Kiaser
... remember your FDIC guarantor is the same county that has a 7 Trillion dollar debt.
True, but when was the last time someone tried to collect it?
Lol!!!
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Wed Apr 12, 2006 9:09 pm |
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