My husband and I have just received a settlement around 10k. What would be the best way for us to invest this money. All of our debt is paid off. What investment options has really yielded a high rate of return for you?
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Nothing. The market is crappy and even the high yield savings accounts and money market accounts have kept lowering the APY. But the best thing is probably put the money in mutual or index funds. The market will recover and you will reap the reward when that happens.
Do the both of you have Roth IRAs or Traditional IRAs? If not that would be a great option. Or if you do Max it out for 2007.
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Invest in your own education.
Once you have that knowledge, no one can ever take it away.
Using that money for your education will reduce the stress on yourself and your family.
Your loans will be reduced by that much.
Other than paying back loans, you can do more important things with your money.
AND you’ll be a much stronger candidate for other loans such as mortgages or personal loans.
Thanks for asking your Q! I enjoyed answering it
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Everybody’s situation is different. What works for me may not work for you. My most profitable investment is also highly volatile, and most people wouldn’t have the stomach for it. You need to take into consideration what your goals are, your time horizon, and your risk tolerance. Once you know those things, choosing the right investment is easy. Personally I don’t recommend taking investment advice from random people on Y!A. The people who are actually qualified to give you an advice won’t give you it in this forum because it is direct violation of the statement of ethics with the NASD/SEC/ and other licensing agencies. If you currently have investment accounts with a firm like Fidelity or Schwab I suggest you make an appointment to see one of their investment specialists to help with your decision. Best of Luck.
Wow I am impressed about the debts paid off. The investments that have worked best for me are Exchange-Traded Funds (ETFs) (for definition, see my glossary – ). They are essentially baskets of stocks but are much safer than individual stocks.
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I also had a similair problem as you have.
I had a good amount of money, and wanted it to grow.
So I looked around on the internet to find something that is:
1) giving me great returns towards a relatively small risk
2) Professional people who know what they where doing with my money.
I’m glad to say I finally found a moneymanager who is capable of giving me good returns and give me a great support.
On this blog you can follow up all the results that he is making:
My money is working for me, in three months time I already have a ROI of 97%.
So you don’t hear me complaining!
Annyway if you would like to get in touch with my moneymanager to have some more information feel free to contact me you can send an email to me at derrekmay at gmail.com.
Then I’ll give you the email adress of my moneymanager
Hope this has helped you!
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Mutual Funds. Get one that has a good record of above average returns. You are basically hiring a fund manager to make decisions for you. If the fund has a good record, it means he/she is doing a good job.
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