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| *The Commerce Journal>>>Investing |
Investing $100 per month. Whats the best? |
Next year I plan to quit smoking, and want to put the $100 per month towards something else that will grow to keep me motivated. Any ideas? Assuming you are saving money for retirement already, you might put it in a "fun" fund and reward yourself periodically with purchases, etc, for yourself or loved ones. Or take $25 and put it in that fund, and the rest into an emergency savings account, since most people underfund those. Good luck on quitting, your return on investment there will be much greater than $100 a month. :) STOP NOW GET MONEY SOONER Well seeing as you would have spent the money on smoking anyway, why not have a look at LEAPs options. As you may know these are long US equity(?) options (two years or so) I have been buying Conoco Philips (COP) Jan 09 $75 just lately. They are about $17, but there may be something else more suitable (cheaper). Will the price of oil collapse? How much oil has Conoco got? Looks a good bet (look at the chart) ETFs. Use share builder. Open a good no-load mutual fund (T. Rowe Price, Vanguard, etc.) and sign up for their automatic deposit program. Newjersey is correct. You want commision free monthly investments, otherwise the commisions will eat up your gains. A no load mutual fund with low expense ratio is the place to be. |
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