mutual funds

Darthness · Post by **Darthness** » Sun Nov 19, 2006 5:30 pm

and stuff like that.

okay, so this week i'm giong to be liquidating some sort of thing that my grandmother set up for me when i wais a child for college and what not.. anyway.. once i get the cash.. i plan on reinvesting some of it. i figure some of you were born during a time where people saved.. so yeah.. any suggestions? i'll have around $500-$1000 to play with. But yeah, i havn't done a whole lot a research but i was thinking of putting it into a mutual fund or something... get a small head start on saving for the future.. :happy055:

thanks.

Team AI · Post by **Team AI** » Sun Nov 19, 2006 5:58 pm

Ask this question here...
http://www.creditboards.com

That is a very good forum devoted mainly to credit repair but they also have a lot of info on money managment, investing, and money in general. It's like the CAC of Credit and finance they are a great group of mature people.

toomanyamps · Post by **toomanyamps** » Sun Nov 19, 2006 6:03 pm

You thought about buying stock in something

swimmerdude · Post by **swimmerdude** » Sun Nov 19, 2006 6:07 pm

toomanyamps wrote:You thought about buying stock in something

The bad part of that for him is that he seems to not know much about investing and when investing in something like the stock market which is a high risk investment.... you need to know what you are doing.

A CD from a bank would be easy.... but i dont know how each investment works.... other family members of mine do though and help me out with it.

Ryan from Ohio · Post by **Ryan from Ohio** » Sun Nov 19, 2006 6:24 pm

Just put all your money in Owens Corning stock :OC NYSE name...

THey are booming rather well. Just emerged from Bankruptcy...

Im willing to think they will do you well.

Darthness · Post by **Darthness** » Sun Nov 19, 2006 6:52 pm

you generally need more money to get a decent interest rate with a CD i thougt... i know i had about $750 in a cd for about a year, i got like $5 back :P

and you're right, i don't know a *whole* lot about the stock market... i know a little.. and i vaguely remeber what to look for in a stock, but i'd rather not go that route right now. i'd rather go iwth something a little safer.

toomanyamps · Post by **toomanyamps** » Sun Nov 19, 2006 7:05 pm

The bad part of that for him is that he seems to not know much about investing and when investing in something like the stock market which is a high risk investment

I hear you there.....YOou have to be very carefull in that industry...I also know that the more money you have for a Cd account the better the interest

Team AI · Post by **Team AI** » Sun Nov 19, 2006 7:21 pm

you can get a savings account online that has better rates than some CD's do..

the upside is you can keep adding money too it. check that link I posted there are a lot of ways to invest your money but it really depends on your long and short term goals and chance that you may need it in a pinch.

Sun Nov 19, 2006 7:33 pm

Do you plan on keeping this money in an account until retirement, and maybe adding to it over the years?

A Roth IRA would be good.

Or if your work for a company that has a 401k, I believe you can add to that too.

audiobass10 · Post by **audiobass10** » Sun Nov 19, 2006 7:46 pm

Roth IRA for the win!