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Investing my money...

 
Old 08-04-2016, 06:26 PM
  #11  
 
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save for a down paymemt on a house then rent the house out. Then keep about 6 months of expenses in your bank account and throw everything else every month at paying off the house. repeat this when the house is paid off and stop when the cash flow is enough to retire on. Thats what i'm doing at least.
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Old 08-22-2016, 10:19 AM
  #12  
 
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depends on you goals, how long, depends on your taste for risk, depends on what you want to do every day or week or month to manage your money. self management is not for everyone and it's really a great way to make money. i use the stock market, i trade for free with Merrill lynch due to my account balance, keep up to $25,000 or more in any BofA account or Merrill account and you can trade up to 30 times a month free of charge.

Indexed mutual funds are ok if you don't care to manage much. individual stocks are great if they fit in your plans and dividends are great cause it is free money for having that stock and taxed at a different rate than normal income. rather than use a financial planner just stick to the advice of your tax person.

I tend to trade individual stocks, have done so for over 15 years, it's a learning curve. I tend to stay away from ipo's now since they suck and using the news to buy and sell. Best of luck to you and also keep in mind your level of risk..... nobody sells at the all time high or all time low unless they are just lucky.

Real estate is a hands on investment and depending on where you live it can be excellent long term money with short term tax benefits.
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Old 09-08-2016, 09:45 AM
  #13  
 
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I'm in the early stages of investing in real estate, and I really enjoy it. It takes a good amount of effort to educate yourself, but it's worth it. I like that I have a little more control over it than I would with stocks.

I buy houses below market value (typically need repairs), and I can force them to appreciate by rehabbing them, rather than speculating on the market and hoping that they appraise. Then you can either rent them out or sell them (flip) for a profit. The market can always crash like back around 08, but if you're holding the properties long-term, you can ride it out. There are also indicators before a market tanks. I wasn't investing back then, but a lot of the smart investors stopped buying around 2004-2005 when they saw it coming, then bought like crazy around 2009.

You really need to know the market you're investing in, but most people invest near their primary residence. That way you already know the nice neighborhoods and the areas to stay away from.

If it's something you think you might be interested in, do a search for Biggerpockets website. They have TONS of free guides, articles, podcasts, etc. They seem to be geared toward helping new investors, and it's a great resource. I discovered their site by accident while searching on Google, and now I'm hooked. Hoping to quit my job or at least cut back my hours in about 5-7 years.

Regardless of what you invest in, a book that will change your entire outlook on finances is Rich Dad, Poor Dad by Robert Kyosaki. It's almost cliché to suggest that book in investing circles anymore, but it's really THAT good.
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Old 07-26-2017, 01:34 PM
  #14  
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Originally Posted by Allyson Romney View Post
Hello, guys! I have a question, Where do you invest your money? A friend of mine told me about investing my money to earn more profits than keeping it in the bank. I really don't know anything about it but I want to give it a try. What would you suggest? Do I need a financial adviser? Thanks!
You should in bitcoins, it is the most profitable investment right now.
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