Re: savings & investing
Are you wanting to make long-term investmesnts and don't want to touch the money? Then try a mutual fund. I like index mutual funds like Vanguard or Fidelity offers because of the low cost and low hassle. Go for an IRA account to reap the tax benefits and reinvest the dividends.
Short-term and need the cash to be liquid? Maybe look at a savings account with a good rate.
Is this just extra money to play with? Maybe research some good stocks or invest in your own business or your education, etc.
If you have credit card debt or other loans, you're better off paying them before you start investing. If you make 3% interest in a savings account and lose 18% on a credit card, your still losing 15% interest on your money.
|