Good Investments Vol. $5,ooo (Goal orientated need to read)

[dunknforce]

Alright, I got $5K to spend, and I need some good or expert advice.

I need to know what is going to make it.

I have alot of considerations becuase I know alot of people in alot of different fields of work.

If anyone has serious info, PM me with it.

But after observing the 5 Laws of Gold (Richest Man in Babylon)

I am ready to start a investment that will last me a lifetime.

trying to help not just myslef but multiple people here, trying to stay away from these Sunday Pointless Post


EDIT:LEGAL INVESTMENTS

 

[irvking]

Save For The XI/XII Pack

 

[i love af1]

get a good financial advisor.

 

[westroxbury011]

Buy some boodah and gram up.

 

[dunknforce]

Originally Posted by WestRoxbury011

Buy some boodah and gram up.

I said legal Investments, and a buddy of mine just got cuaght up, another reason i am glad i stopped a long time ago


and

I love AF1s :

The only advice i get from my financial advisor is long term investments, which are NICE bc i am already involved in long term investments, and the short termstuff isnt worthwhile to me.....

 

[westroxbury011]

I was just playin anyway.

On the real, i wish you the best of luck in whatever you decide to put that money into.

 

[r33p04s]

http://www.investopedia.com/Default.aspx?viewed=1

 

[whyte1der05five]

Im kinda in the same boat except Im looking to get into stocks.

Not really looking to do it online tho, So Im prob gonna meet with someone during the week.

 

[dunknforce]

^ good luck with that Whyte1... I want to invest in stocks, but i already got things going with stock markets and shhhh... I just want something to have funwith and keep me busy inbetween College and working part time .

 

[dunknforce]

Originally Posted by r33p04s

http://www.investopedia.com/Default.aspx?viewed=1

this will help everyone, thanks for that link. I have seen it b4 on here and never went there

Thanks

 

[liquid sword chamber]

I'm also in a similar situation, only I have a quite a bit more funds......the stock market seems wise but the US stock market seems to suck right now,along with the recession in place I'm wondering if saving might just be the best option, which I originally planned to do

 

[dunknforce]

alright let me see if more knowledgable people are online this morning

 

[blazinbama]

With $5,000 and trying to avoid the stock market, I would say go to your bank and open up a CD around 12 months where you'll get 4-5% interest. Prollyyour best bet.

 

[nymvp]

Originally Posted by Liquid Sword Chamber

I'm also in a similar situation, only I have a quite a bit more funds......the stock market seems wise but the US stock market seems to suck right now, along with the recession in place I'm wondering if saving might just be the best option, which I originally planned to do

I thought good investors could do good in bull or bear ...

 

[dirtylicious]

how old are you?...and do you have a job that creates taxable income?

 

[craftsy21]

Originally Posted by NYMVP

Originally Posted by Liquid Sword Chamber

I'm also in a similar situation, only I have a quite a bit more funds......the stock market seems wise but the US stock market seems to suck right now, along with the recession in place I'm wondering if saving might just be the best option, which I originally planned to do

I thought good investors could do good in bull or bear ...

They can... but investing and playing the market are two different ideas... if you're "playing" the market, trying to make a short termscore, you're better off gambling on a sports score. Long term investing is different, and money can always be made there whether the market is going wellor dying.

 

[babybop2g]

^Smart man

 

[dunknforce]

Originally Posted by Dirtylicious

how old are you?...and do you have a job that creates taxable income?

I am 18, a freshman in college. I just recently got a job 2 months ago at a shoestore

I read often on topics that vary. If you have anything you could teach me PM me, I am always looking for some knowledge/books to read.

 

[youngtriz]

i heard from the jewelry thread that gold is a pretty good investment right now

 

[abeautifulhaze]

Where do you live? Do you have a steady job?

 

[xxxoverridexxx]

my pocket

 

[dunknforce]

YoungTriz wrote:

---

i heard from the jewelry thread that gold is a pretty good investment right now

Good Point I completely forgot about that

Heres my three bricks

(collector coins were a limtied thing, they got the dollar president coins inside, and uncirculated/untouched)
The Bibby PEs were scooped up today

Bad Pic

BTW, my first PE

Its been about 6 yrs since i've wanted my first pair

 

[dirtylicious]

Originally Posted by DunkNForce

Originally Posted by Dirtylicious

how old are you?...and do you have a job that creates taxable income?

I am 18, a freshman in college. I just recently got a job 2 months ago at a shoestore

ok...so the reason why I ask is that you state this:

I am ready to start a investment that will last me a lifetime.
check it....you can open up a Roth IRA, which grows tax free.
the catch is that you have to wait until you're at least 59½ to take distributions and you need taxable income for the years you contribute. (up to $5000or the amount of taxable income for the year,whichever is less)

so check out these numbers if you just open up your Roth with the 5K and simply just leave it alone....
and factor in a very modest 9% return:
EDIT...I just realized my #'s were off.
at age 60...that 5K has turned into ~227K ~$389K
or if you wait 5 more years...
at age 65...that 5K has turned into ~350K~$600K

now... supposed instead of just leaving it alone and add $1K every year until you're 55.
still factoring in a very modest 9% return
at age 60...your balance would be ~$625K~$780K
or if you wait 5 more year...
at age 65...your balance would be ~$961K~$1.2M

change that 1K to 1500 and the #'s are
60 = ~$823K~$986K
65 = ~$1.267M~$1.5M

how's that for a nice sum for your retirement?...and all it took was a 1500 a year.

additionally... presumably you'd contribute to your 401k at your job...and make other non retirement investments

 

[STooK]

^now THAT is the worst "investment" you can make. but if you want long term investment wouldnt those long term government funds or w/e work? iremember learning about it in hs 3-4 yrs back so my memory's not too clear. another thing is NT is prob the last place i'd ask if i was serious aboutmaking an "investment"

 

[mw2889]

Get 5,000 ones and look for the baddest chick in the club.