I want to start a saving plan or financial plan, like investing. But have no clue as to what or how. I want to make enough in this venture so I am able to retire in 15 to 20 years.
Any advice or info?
ThanksAny advice or tips for investing?
Find a few finacial planers in your area and talk with them.
Give the ones you like each $10,000 and see how they do.
The ones that do well get more, the others get fired.Any advice or tips for investing?
I can only speak to the financial markets because that's the area I'm familiar with.
Know what you're getting into. Look at it scientifically. The facts are:
- the track record of most money management does not support the hype. By this I mean mutual funds, stock brokers, etc. do not consistently make money in any form of investment.
You may think you can hand your money over to a professional and he/she will do a better job than you. But if you look rationally at the history, you'll find it's not the case.
- Many people say ';buy and hold'; is the only sure policy. They recommend buying a stock index or a portfolio and holding it for twenty years. Except that it's not a sure thing. What if you happen to pick a twenty year period where the stock market does not rise? Look at history. Such periods have happened in the 20th century.
Professionals get upset with me for saying such things - and puzzled as to why I would say them because I work in the business - but the fact is I was trained as a scientist. I'm not a salesman.
And I don't have any obligations or commitments that prohibit me from saying what I think.
bottom line: stay clear of financial markets unless you find someone who's really good at it (which is rare.)
The surest investment is savings.
Wow! You must be doing really well.
You may want to explore the forex market.
You can actually start making money spending just few minutes a day using powerful software that can give you the signals when you can execute a trade.
Don't take ';specific'; stock tips from anyone.
Start a savings account with automatic drafts. You can even have seperate accounts for;
Emergency Fund
Vacation
New Car DP
etc.
http://www.gmacbank.com/
On line checking with interest is also smart;
http://www.everbank.com/
Read: Mutual Funds For Dummy's
Create an ';asset allocation'; %26amp; start monthly automatic investments to Mutual Funds.
Some good fund companies are;
T. Rowe Price
Dodge %26amp; Cox
Vanguard
Be careful of chasing performance in Mutual Funds. Last years big winners can be this years big losers. ASSET ALLOCATION should be your guide.
Eventually open a brokerage account. Don't do any investing without understanding the products totally.
Never buy investment products from banks and insurance companies.
(costly with poor advice and products).........................
Read as much as you can. Avoid the popular gurus like Cramer etc.
i suggest you to try overnight income investment. check it out at:
use investmentforge.com this project paying stable! I earned 7000$ on it easily!
keep your money under the mattress for the time being.
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