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| *The Commerce Journal>>>Investing |
I am 22 and looking to invest...I am new to this and need help. Please!? |
I am 22 and looking to invest...I am new to this and need help. Please!? What's up? The first thing you should be doing is contributing to your employer sponsored retirement plan (probably a 401 (k) plan) just enough to get the match. Then, open up a Roth IRA with a low cost company such as T. Rowe Price or Fidelity. The max for you will be $4,000 until the tax year is over April 15th. Then, it raises to $5,000 being under 50. I would go with a target retirement fund from T. Rowe Price. Simply select your expected retirement date and they will do the rest. Then, you should establish an emergency fund. A high yield online money market or savings account will do. This is money that is easily accessible in case you need to get to it. Once you've done that, I would gradually add a couple of funds to the portfolio. I would add an index fund, which will simply mimic a certain index of the stock market such as the S&P 500. Because of the infrequency of trading, your taxes will be lower. Then, I would add a growth stock fund, income stock fund, an international fund, and a bond fund. With these, you will have diversification. You want to be as aggressive as possible while in your 20's, 30's, and 40's. Once you reach 50, you want to allocate more money into bonds and cash investments for safety. Good luck. If you need more help, just email me. What are you going to invest for - a retirement account or just general investing? What is your timeline - are you saving for a specific purchase? we really need more details. put your money in an isa. or a high interest savings account until you know what you want/ what you are doing. maybe ask and older relative they would have investments and would be able to steer you in the right place. family is there to give help and advice Hi friend just invest in stocks it will give u very good returns First things first, save up 6 months worth of income and pay off all your debt (credit cards, student loans etc.) . The best answer I can give to that question is... That's a dangerous question. I'd go to www.vanguard.com. They consistently do the best job of managing your money at the lowest cost and risk. Your best bet is www.diehards.org The stock market is a great option and you dont need much to start. All you need is to do a little homework and get some good stocks, I use http://www.goldenbullstocks.com check them out and test drive their stocks you will be impressed! i just say dont put all your eggs in one basket |
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