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| pokerman23 |
 Posted: Tue Aug 14, 2007 6:44 am Post subject: College Kid! |
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New Poster
Joined: 14 Aug 2007
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 I want to start investing. I really have no clue how to start or where to start. I have about 300 dollars now and then i could add about 100 a month. I want to see my money grow ASAP. I will not need it tho for like 2 to 5 yrs. Can anyone help me please? |
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| heos |
| Posted: Tue Aug 14, 2007 10:47 am Post subject: |
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Investing Sr. Associate
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| Try puting it in a IRA or a CD. |
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| frac0019 |
| Posted: Tue Aug 14, 2007 11:38 am Post subject: Re: College Kid! |
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Investing Sr. Associate
Joined: 25 Aug 2006
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| pokerman23 wrote: | | I want to start investing. I really have no clue how to start or where to start. I have about 300 dollars now and then i could add about 100 a month. I want to see my money grow ASAP. I will not need it tho for like 2 to 5 yrs. Can anyone help me please? | Well..since you are going to need that money within 2 to 5 years..then it probably won't be best to have it invested into stocks..i would either put it in CDs or you could even invest it into bonds which would generate you fixed income and reduces the chance of you losing any of your money compared to investing in stocks since you have a short time horizon..you probably could even open up an IRA account and contribute a ceratin amount there monthly..the younger you start the better |
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| pokerman23 |
| Posted: Tue Aug 14, 2007 1:01 pm Post subject: ok |
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New Poster
Joined: 14 Aug 2007
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55.64 e$
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| well how do i go about doing this? |
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| heos |
| Posted: Tue Aug 14, 2007 2:05 pm Post subject: |
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Investing Sr. Associate
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| Go to your bank and they will help you. they will give you more info and be able to anser any of your questions right then and there. you should be able to invest through your bank. most banks offer that. |
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| frac0019 |
| Posted: Tue Aug 14, 2007 5:05 pm Post subject: |
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Investing Sr. Associate
Joined: 25 Aug 2006
Posts: 125
This Month: 0
Location: Jacksonville, FL
28554.86 e$
Net worth: 28,554.86
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Churn Rate: 0.00%Items
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| heos wrote: | | Go to your bank and they will help you. they will give you more info and be able to anser any of your questions right then and there. you should be able to invest through your bank. most banks offer that. | you can also go to bankrate.com..it compares rates at different banks..it can be helpful if you are trying to find the best rate for your money..but try to go through your bank first |
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| geb9696 |
| Posted: Tue Aug 14, 2007 7:26 pm Post subject: |
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Investing VP
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| If you need the money in 3-5 years then opening an IRA with this money is a bad idea. Once money is put into an IRA it cannot be taken out until your 60's or else you have to pay the taxes on the money anyway. |
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| heos |
| Posted: Thu Aug 16, 2007 1:01 pm Post subject: |
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Investing Sr. Associate
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| geb9696 wrote: | | If you need the money in 3-5 years then opening an IRA with this money is a bad idea. Once money is put into an IRA it cannot be taken out until your 60's or else you have to pay the taxes on the money anyway. | I forgot  well try puting your money in bonds. |
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| geb9696 |
| Posted: Thu Aug 16, 2007 5:15 pm Post subject: |
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Investing VP
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| If you search around you should be able to find a CD that pays equal or more then the US T-Bills,T-Notes, and T-Bonds. |
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| sport302 |
| Posted: Sun Aug 19, 2007 6:41 pm Post subject: |
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Investing Associate
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With that small amount of an initial investment just open a high-yield online savings account and at least start earning 5.05% with basically no risk.
Then once you get to $3000 dollars you can start looking into some more advanced forms of investing. |
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