Where to safely invest my money?
Hello there, thanks for taking the time in reading the question and I really hope you guys can be of some assistance. I'm currently 19, working part time and going to school full time. Meaning that I have very little time on my hands to do anything like dealing with stocks (nor do I have the patience, frankly). I have a rather good income for someone my age, with my job leaving me with roughly 400-500 dollars a month, plus an extra $250 i get per month from a loan I gave someone (another attempt at safely investing money). My problem is that if I have money in the bank, I end up spending it profusely. I never spend more than I can, but I spend nonetheless. I was hoping to both take this money out of my reach while hopefully making it grow as well. I've looked into mutual funds and index funds, but to be quite honest, didn't quite understand them. I don't need the money to be completely unavailable to me, for if the money's being used (such as for an investment) i'll be able to stop myself from tapping it any moment i feel like. I just need somewhere I can put my money where there's little to no risk of losing it while also having it grow. Any suggestions? Assume that I'm totally mentally deficient and include instructions please, haha. Thanks for your help.
Asked By: Charles - 7/6/2012
Best Answer - Chosen by Asker
Standard investment advice is that you should invest in a diversified mix of stocks, bonds, and money market funds. If you are like most people you will invest part of your money aggressively in stocks, and part conservatively in money market funds and bond funds. However, some young people will go all stocks, and... More
Answered By: Joe - 7/6/2012
Additional Answers (2)
hello friend....i read your question thoughtfully and finally got one answer for you...give a loan to your friend or other else for the few month....so it could help you not only for saving money it could be the best idea to raise up your money..for better info i will give you an site below...hope it could help you... More
Answered By: Sudhan - 7/6/2012
If you want no risk, you might want to invest in treasury bonds (there's a minimum purchase with every bond). It is the safest investment you can make but the return is low (low risk=low return). When you invest in bonds, you cann't touch your money until a certain period. You will get a percentage of return from your... More
Answered By: Auto - 7/6/2012
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