What is the best investment for my $5k?
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M$12 Answers
1) if you don't need it for a long time, the stock market is the best option. Right now, with stocks at rock bottom prices you will be buying stocks on a deep discount, and when the market recovers you will stand to make some very nice returns. Invest in what you know, stable companies that you believe in, or mutual funds/index funds. the S&P 500 is what almost everyone compares themselves to when gauging how well they did. Warren Buffet actually made a bet with a Hedgefund manager that in 10 years, an S&P500 index fund will outperform a hegefund.
http://money.cnn.com/2008/06/04/news/newsmakers/buffett_bet.fortune/index.htm
If you don't know anything put your money into a S&P500 index fund.
2)If you need money within a few years, then a CD (certified Deposit) will be the best bet. with a CD you lock in the interest rate for the term of the CD. so if you got a 3% APY 12 month CD, your money will make 3% in that 12 months no matter what happens in the financial markets.
3) if you need the money any day, then just stick with high interest savings account where you can pull your money any time, but the interest rate is subject to change at any time.
Always make sure you understand the investment vehicle before you invest. you don't want any nasty surprises.
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M$
Here is a good article that explains what I mean:
http://www.freemoneyfinance.com/2006/03/maximizing_your.html
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M$
If you want to buy a CD, go to BankRate dot com. Banks that are in trouble will be offering very high rates. Buy on of those. You don't need to worry about the bank being in trouble because your CD will be insured by the FDIC.
If you want to put in the stock market, be sure you can leave it alone for at least three years. Also, tips are for waiters, don't take any stock tips from anyone. Do your own research use Microsoft for stocks and Morningstar for funds.
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M$
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$Or better yet invest in green stocks, they are the future.
The crashing stock market
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M$
How long does it take one gold once, to grow into two gold ounces.
http://www.wikinvest.com/wiki/Gold_%28Investor%29
If you actually wanted to get into the market and play around a bit I would suggest a no load mutual fund with a bond/equity portfolio blend that is allocated towards long term growth. That is if you want to take the safe route. If you want to be a bit risky and the money is something that you could do without I would put it into an online trading account so you have the ability to purchase a few individual stocks with low trading costs.
There are a lot of things to do with $5k and it all depends on if you want to retain your principle (original amount) or have a bit of fun with it and try to make a quick gain with a couple of trades with the possibility of a loss.
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M$
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$
www.morningstar.com
www.kiplingers.com
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M$http://www.youtube.com/watch?v=qRyq6Dkg5jg
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$
