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Investments

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KingShit
Posts: 4483 - Karma: 7
I was planning on putting about 200 dollars a month into savings account but when put more thought into it I realized that I would be a lot better off putting that 200 dollars into a mutual fund and not touching it for years to come and then if I have any left over money I could purchase some high risk stock and try to make extra money on the side. The question that I have is does anyone have any sort of mututal funds, cds, stocks and what kind of investment plans are you doing or any tips would also be appreciated.



-People say marijuana ruins your life, I just say I take the scenic route-
Apr 4 2005 1:20PM
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d-loc
Posts: 7479 - Karma: 15
CD's are the way to go if your looking for longterm investments with some of the highest interest. stocks as you know are alot more risky when trading but you can make ALOT more than a CD or savings account.

basically you need to look at your risk factor. if your wanting a higher return try stocks for awhile, but only use 1/2 your money and the other 1/2 in a savings or CD

----------------------------------------------------------------------------- Some people talk it, some people live it, some people walk it-some people give it... deal with it. D-Loc AKA Shaky Bones... Original, Unique, and One of a Kind.
Apr 4 2005 1:28PM
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d-loc
Posts: 7479 - Karma: 15
CD's are the way to go if your looking for longterm investments with some of the highest interest. stocks as you know are alot more risky when trading but you can make ALOT more than a CD or savings account.

----------------------------------------------------------------------------- Some people talk it, some people live it, some people walk it-some people give it... deal with it. D-Loc AKA Shaky Bones... Original, Unique, and One of a Kind.
Apr 4 2005 1:28PM
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chillonhill
Posts: 1314 - Karma: 125
don't buy nortel!
Air Transat was good,/ Research in Motion / Four Seasons Hotels, Trans Canada Pipeline. These were all killer stocks they all went up like 300%
But now the markets are really volatile, Blue Chip stocks like Dow 30 / TSX 60 Bunch of companys that usually all go up Safe but the returns are more conservative. Talk to a Broker

Apr 4 2005 1:30PM
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KingShit
Posts: 4483 - Karma: 7
I just actually contacted Merilly Lynch representative and gonna go in and set something up this week.



-People say marijuana ruins your life, I just say I take the scenic route-
Apr 4 2005 1:31PM
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KingShit
Posts: 4483 - Karma: 7
Does anyone know anything about IRA actually?



-People say marijuana ruins your life, I just say I take the scenic route-
Apr 4 2005 5:00PM
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MHFreeriderD
Posts: 255 - Karma: 11
by setting up an IRA you are essentially putting money away for retirement. If you open up a Roth IRA the money that you put in is not taxed when you remove the money from the account at retirement. I am not sure what the limits are, but there is a cap on how much you can put in each year. It is a very good idea for long term planning.




why use a big word when a diminutive one will suffice?
Apr 4 2005 6:06PM
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Lineskier-101
Posts: 7863 - Karma: 22
ROTH IRA is the way to go. You just put it in and the government cant tax you on it. It saved you alot of money that way. I have lots of stocks, EBAY has been good to me. haha

--------------------------------------
'Duran Duran bought Armada, Armada bought Microsoft, Microsoft bought MSP and AOL, AOL owns Time4 which owns the MountainSportsMedia which owns SKi, Skiing and RIP Freeze... so Armada now owns McDonalds and Coke.
Apr 4 2005 6:09PM
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thewavebb
Posts: 1082 - Karma: 20
Traditional IRA's:
- 4,000 per year contributions
- Contributions and interest grow tax-deferred
- Withdrawals are taxed as income
- Penalty fees for early withdraw of contributions

Roth IRA's:
- 4,000 per year contributions
- Contributions are not Tax Deductable
- Contributions can be withdrawn anytime penalty free for any reasons
- Interest/earning withdrawn before age 59 1/2 are subject to 10% penalty and taxed as income
- Interest/earning withdrawn after age 59 1/2 are tax free

IRA's use pretax money and ROTH IRA's use after tax income.

If you have a couple thousand free I would also look into bonds, treasury bills, and CMO's. Secured bonds are pretty low risk and have decent yields.

Apr 4 2005 6:40PM
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EastcoastAR5
Posts: 2721 - Karma: 15
the market sucks right now so i suggest not investing in anything besides a mutalfund



word

sick guy, yo guy yesterday guy, some g tried to jack me guy, cause yo i was selling him some budz, guy, and yo guy... i busted out ma nine and shit guy he was packing heat to guy, mad gun fight guy-
G-Dawg
Apr 4 2005 6:42PM
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KingShit
Posts: 4483 - Karma: 7
What I'm confused about is how I make profit off of IRA. I understand how mutual fund works and what results in profit but have no clue how IRA runs. Any help fellowes?



-People say marijuana ruins your life, I just say I take the scenic route-
Apr 4 2005 6:49PM
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thewavebb
Posts: 1082 - Karma: 20
it is an anuity that allows you to put money into it and earn interest off it. You profit off the interest earned.

Apr 4 2005 6:56PM
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thewavebb
Posts: 1082 - Karma: 20
An IRA is just more for retirment and financial planning (avoiding/defering taxation)

Apr 4 2005 6:58PM
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Vicious
Posts: 3862 - Karma: 140
^he basically hit all the high points in regard to IRAs. the biggest difference is that in a traditional IRA, the contributions you make yearly are tax-deductible and with a Roth they are not. conversely, with a Roth, you are not taxed upon withdrawal, but with a traditional you are.

going to ML or Fidelity is the best way to start an investment account, whether it be an IRA or mutual funds.

IRAs are a great tool for retirement planning. mutual funds are also a great investment as they automatically diversify for you...just be sure to do a bit of homework to understand where your money is being invested and who is managing it


-Ski CO-

Jibij Pro Shop
www.jibij.com
Apr 4 2005 6:58PM
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thewavebb
Posts: 1082 - Karma: 20
If you are a church going person also check out if you have a church affiliated organization that gives persons of that denomination services. For instance I just started working for Thrivent Financial for Lutherans and I work with Lutheran churchs and their members.

Apr 4 2005 7:01PM
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