Getting Your Feet Wet - Start Investing
If you're anxious to get your investments started, you can start right away without having a lot of knowledge concerning the stock market. Start by being a conservative investor with a low risk tolerance. This can offer you a approach to making your cash grow whereas you will learn a lot of about investing.
Begin with an interest bearing savings account. You should have already opened one. If you don't, you can go ahead and do that now. A savings account can be opened at the same bank that you do your checking at - or at any different bank. A savings account ought to pay 2 - four% on the money that you have in the account.
It's not a large sum of money - unless you have 1,000,000 dollars in that account - however it is a start, and it is money creating money.
Next, invest in money market funds. This will typically be done through your bank. These funds have higher interest payouts than typical savings accounts, however they work much the same way. These are short term investments, thus your money won't be occupied for a protracted period of time - but again, it is cash creating money.
Certificates of Deposit also are sound investments with no risk. The interest rates on CD's are usually higher than those of savings accounts or Money Market Funds.
You'll select the length of your investment, and interest is paid frequently until the CD reaches maturity. CD's will be purchased at your bank, and your bank can insure them against loss. When the CD reaches maturity, you receive your original investment, and the interest that the CD has earned.
If you're just beginning out, one or all of those 3 sorts of investments is the simplest beginning point. Again, this can permit your cash to begin creating cash for you while you learn a lot about investing in other places. - 23159
Begin with an interest bearing savings account. You should have already opened one. If you don't, you can go ahead and do that now. A savings account can be opened at the same bank that you do your checking at - or at any different bank. A savings account ought to pay 2 - four% on the money that you have in the account.
It's not a large sum of money - unless you have 1,000,000 dollars in that account - however it is a start, and it is money creating money.
Next, invest in money market funds. This will typically be done through your bank. These funds have higher interest payouts than typical savings accounts, however they work much the same way. These are short term investments, thus your money won't be occupied for a protracted period of time - but again, it is cash creating money.
Certificates of Deposit also are sound investments with no risk. The interest rates on CD's are usually higher than those of savings accounts or Money Market Funds.
You'll select the length of your investment, and interest is paid frequently until the CD reaches maturity. CD's will be purchased at your bank, and your bank can insure them against loss. When the CD reaches maturity, you receive your original investment, and the interest that the CD has earned.
If you're just beginning out, one or all of those 3 sorts of investments is the simplest beginning point. Again, this can permit your cash to begin creating cash for you while you learn a lot about investing in other places. - 23159
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posted by X - Men @ 5:41 AM
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