what should I invest in?
Asked by
malixx (
5)
November 9th, 2007
1st off I am clueless when it comes to investment. But I do have around 5 grand that instead of blowing it on worthless stuff I would like to turn it into a profit if that is possible. I’m young and I don’t think I could afford to invest into something that will take years to profit. I’m just looking at 2 – 3 months period.
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7 Answers
My first suggestion would be not to put it all in one thing.
Two to three months, though, is a pretty short time to make a profit—unless you are very lucky with the stock market. And “luck” is the operative word here.
Invest in mutual funds and life insurance policies.
What state do you live in? And if there were a way of making a great profit in several months, we’d all be rich, including the stock brokers. And right this minute, the NY Stock exchange has tanked very badly – oil prices, mortgage problems, weak dollar, unexpected low quarterly profits or large losses. Make sure that you know what you are doing. Are you working and able to put money into a retirement account?
skfinkel is right about “luck.” In the present mood, “safe’ is better than “sorry. If you want to gamble, try the race track, slots, roulette. “Safe” is a money-market fund, CD, treasuries or a tax-free bond fund if you live in the right state.
I live in Maryland but moving to Virginia in about a month. Yea your right Sarah I guess I didn’t know the market was that bad, as far as my luck goes its pretty safe to say that I should stay away from race tracks casinos etc.. lol. For the most part I’m just trying to look at options and what would work and at the same time playing it safe, Thanks for all the info guys its helping a lot
Go to Vanguard.com and take their little survey. Some suggested funds (theirs’ of course, but their fees are VERY low) will come up and you can do the research.
You are moving from and to the wrong states for the Vanguard Long-Term tax-free muni bond funds, unfortunately.
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