• We’re currently investigating an issue related to the forum theme and styling that is impacting page layout and visual formatting. The problem has been identified, and we are actively working on a resolution. There is no impact to user data or functionality, this is strictly a front-end display issue. We’ll post an update once the fix has been deployed. Thanks for your patience while we get this sorted.

Where Should I Invest My Money?

K

Kenji4861

Banned
I was saving up to buy a car, but I decided not to buy a car and invest, so I have about $20~30k now available.

Someone told me ING Direct is the way to go. I am planning to invest this money for around 2-5 years. Any tips would be appreciated.
 
Change machines, that's where it's at. You know the kind, where you put in a dollar bill and you get back 4 quarters. A licence to print money!
 
CDs would be 100% safe, and you can "ladder" them (get separate 2, 3, 4 year CDs) so you can get at some of the money without penalty before the full 5 years is up.

An S&P 500 index mutual fund is not as safe, but is the safest stock-based investment. The problem is that you might want your money at a bad time, like during this month's temporary drop in the index. Mutual funds are a great long-term investment, but 2 years is not long-term.
 
Whatever you do, don't do anything with a bank. Talk to a financial advisor/planner, they will make sure it's in the best investment for you with the biggest rate of return. 🙂
 
If you can invest for 3-4 years, go for an aggressive mutual fund. The investment firm I deal with recommended CVGRX to me under the conditions that I could leave the money in there for 3-4 years minimum. I'd call the independent (the ones that don't sell their own product) investment firms in your area and find out if any of them will manage a certain amount of money for free. Mine will do up to $10,000, and after that the fees are very low.
 
I run a very profitable futures investment firm, I could easily double or triple that in 2-3 years.

If you are interested, please send your money via western union to:

Prince Abul Jihad
West Bank - Nigeria
 
Originally posted by: KingNothing
If you can invest for 3-4 years, go for an aggressive mutual fund. The investment firm I deal with recommended CVGRX to me under the conditions that I could leave the money in there for 3-4 years minimum. I'd call the independent (the ones that don't sell their own product) investment firms in your area and find out if any of them will manage a certain amount of money for free. Mine will do up to $10,000, and after that the fees are very low.
Click to expand...


Agreed. An investment firm can offer you a wide range of investments. Banks have a very limited investment field. Also, a lot of banks don't have CFP's working for them, just people who sorta know about GIC's and Mutual's.
 
If you want a new(not brand new but new to you) car, go ahead and buy a nice 2-3 year old car for $8k-$10k or so and talk to a financial advisor on the best way to invest the rest.
 
Originally posted by: Kenji4861
I have about $20~30k now available. I am planning to invest this money for around 2-5 years.
Click to expand...
Can we assume you've maxed out your work retirement plan and your IRA? How much of the principal were you willing to risk losing?
 
You must log in or register to reply here.

TRENDING THREADS

Back
Top