So I want to get into investing
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If you don't want to pay management fees, go with a company like Vanguard. There are no upfront fees, but the funds aren't managed as proactively as some of the others. If you are willing to pay an upfront/commission, then I'd go through Franklin Templeton. They have a great track record and tons of different choices to fit your investment objectives.
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1) very good to start early.
2) I highly recommend you research a Roth IRA account (BTW, you can only get a 401K through an employer, so don't worry about that today).
With a Roth IRA you put after tax money in, and any interest you make is TAX FREE....for this reason, you can only put in $5000/year.
The nice thing is, because your investment principle is after tax, you can always take that out whenever you want w/o penalty.
So lets say you invest $2K with a Roth IRA account...and you invest in some stock(s) or mutual fund or whatever. lets say after 3 years it doubles to $4000.
Now, you can take out your original $2K, and you still have $2k in that account that keeps growing.
but like I said, research and make your own opinions/decision.
2) I highly recommend you research a Roth IRA account (BTW, you can only get a 401K through an employer, so don't worry about that today).
With a Roth IRA you put after tax money in, and any interest you make is TAX FREE....for this reason, you can only put in $5000/year.
The nice thing is, because your investment principle is after tax, you can always take that out whenever you want w/o penalty.
So lets say you invest $2K with a Roth IRA account...and you invest in some stock(s) or mutual fund or whatever. lets say after 3 years it doubles to $4000.
Now, you can take out your original $2K, and you still have $2k in that account that keeps growing.
but like I said, research and make your own opinions/decision.
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judging from your question, the FIRST thing to figure out is your investment horizon. investing involves risk. if you're not willing to put this money away for 3 to 5 years and handling the market swings, i wouldn't be putting it in the stock market.
if your investment timeline is long enough and you don't want a "low maintenance" investment so-to-speak... index mutual funds and ETFs are a good way to go.
like up2mtns said before. research, research, research. know what you're getting in to before you put your money towards it. watch out for "genius stock picks" from friends and relatives. the latest market rally has made everyone look like a stock picking genius. you need to know if an investment is suitable for your risk tolerance and investment timeline.
if your investment timeline is long enough and you don't want a "low maintenance" investment so-to-speak... index mutual funds and ETFs are a good way to go.
like up2mtns said before. research, research, research. know what you're getting in to before you put your money towards it. watch out for "genius stock picks" from friends and relatives. the latest market rally has made everyone look like a stock picking genius. you need to know if an investment is suitable for your risk tolerance and investment timeline.
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my funds are finally rebounding from a couple TERRIBLE years. Talking down about 50%.
I'm up almost 30% this year in one of them. yeah. hopefully that stays going for a while. In need to retire with some money.
I'm up almost 30% this year in one of them. yeah. hopefully that stays going for a while. In need to retire with some money.
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i can help you out more later tonight.
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you can take out your contributions at any time without penalty. you can not touch your earnings unless for qualified distributions (OP, read up on this and understand it.) and there is a limit to how much of those earnings you can take out penalty free.
i can help you out more later tonight.
i can help you out more later tonight.
Stocks are pretty easy to deal with. If you bought like crazy right before the fed threw their money in. You could have gotten $$ from a 4.00 bofa stock taht is now liek 50 a share...
However, long term investing in the US market = fail.
If you want safe investments, definitely hit up outside currencies and gold/silver =P
However, long term investing in the US market = fail.
If you want safe investments, definitely hit up outside currencies and gold/silver =P
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Stocks are pretty easy to deal with. If you bought like crazy right before the fed threw their money in. You could have gotten $$ from a 4.00 bofa stock taht is now liek 50 a share...
However, long term investing in the US market = fail.
If you want safe investments, definitely hit up outside currencies and gold/silver =P
However, long term investing in the US market = fail.
If you want safe investments, definitely hit up outside currencies and gold/silver =P
I think jumping in to the stock market and trying to be active in buy/sell to make quick profits is about as smart as going to vegas and expecting to make huge profits. It does happen but usually not. I thought about it for a while and I'm glad I didn't because it was just before the market bottomed out. I'm already out $25k but that's coming back at the moment... I would have been out a LOT more.
I don't think long term investing in the US market is a total fail. It will rebound eventually... hence the long term. It's just choosing the better growth markets that's difficult.
I think jumping in to the stock market and trying to be active in buy/sell to make quick profits is about as smart as going to vegas and expecting to make huge profits. It does happen but usually not. I thought about it for a while and I'm glad I didn't because it was just before the market bottomed out. I'm already out $25k but that's coming back at the moment... I would have been out a LOT more.
I think jumping in to the stock market and trying to be active in buy/sell to make quick profits is about as smart as going to vegas and expecting to make huge profits. It does happen but usually not. I thought about it for a while and I'm glad I didn't because it was just before the market bottomed out. I'm already out $25k but that's coming back at the moment... I would have been out a LOT more.
The dollar gains SOME, but other currencies are breaking record highs. Why? The dollar is slowly diminishing because of printing money (inflation)
Which means that dollar that used to get you a Cup at walmart might be a 1.50, or 2.00 now. While the Yen and other currencies wealth is growing, so instead of their 1 yen getting french fries, now it's possible to afford a whole meal.
This isn't analysis or **** talking, I'm saving this dudes money. There is a reason why Barbie, BofA, Apple, etc. are all investing over seas in markets over there. This is the reason why they are building over seas. Their currency is going to take them farther, and the US corps want a piece of it.
So yea, these companies will be growing their stocks here in the US in US dollars, but our jobs, and our economy will still be taking the hit. It's other countries whose purchasing power has grown and are still going up in record highs.
