I'm sitting on $3000, how do I invest?

Question

I have some money saved that I would like to invest over 3 years. What should I do?

Answer 1

Spend it, takes some friends on an amazing holiday and buy yourself a new wardrobe. You can never have enough clothes ;p Lol

Answer 2

$3000 is enough to earn you about 10% interest per month.

The account is called a "Partner Fund"

it combines precious metals, real estate, commodities, and foreign exchange into one investment.

I have earned $1,320 in interest in just 4 months with my investment of $4,000. You will thank me later.

http://www.plateofgold.com/orderpartnerf...

Answer 3

Kudos on wanting to save your money.

It depends on how you want to access your money.

For me, I have my "excess funds" stored in a Money Market fund.  The interest rates are higher than a regular savings account and the money may be accessed by me at any time.

Money Markets are available thru your local bank or credit union.

BTW, credit unions can sometimes offer better savings percentages. If you're not already a member, look into "joining". They usually require a $5 deposit into a savings account, then you may place the bulk of your funds in any other account they offer. Checking is free too.

Best wishes.

Answer 4

FIRST! Invest in Yourself and Learn How to Trade!

1. Disciplined Trader (Mark Douglas) ***HIGHLY RECOMMENDED***

2. The Abundance Course http://www.ReleaseTechnique.com

3. Secrets of the Millionaire Mind T. Harv Eker

4. Trade Your Way to Financial Freedom (VanTharp)

5. Mindtraps-Unlocking the Key to Investment Success (Roland Barach)

6. Mastering Futures Trading (Bo Yoder)

7. Reminiscences of a Stock Operator (Edwin LeFevre)

8. Trading options and futures (Joe Ross)

9. www.ChartingYourFutures.com (I listen to the workshop every week)

10. www..Elliottwave.com

P.S. If you are only interested in stocks then I recommend www.SharkInvesting.com replacing # 6, 8 and 9 above.

Answer 5

The best bet today is foreign currency.  In particular, the mexican peso.

Over the last two years, the peso has risen from 8 to 10 cents to the dollar.  There's a big growth potential, and the most you can loose is if it goes back down to 8 cents.

There is no commission.  You can buy them from a bank without charge, and it remains liquid.

What if?.....It goes to 20 cents, or higher?

Might be fun to check it out.  Remember, the down side is minimal.

Answer 6

Pay off debts like car note first, then make sure you have a couple months of cash to live off if you lose your job.  

  You may want to look at a mutual fund of large cap stocks.  Or for more risk find a sector fund thats doing well.  All depends on you risk tolerance.

If you want stocks there are lots of companies at year lows...GM is at 50 year low.  If you think they will be in better shape 2-3 years from now give them a try.   Oil is doing well now, but prices are high.

Answer 7

Interest rates are low now (We're in a trough), I would suggest waiting 1-2 years before investing. That way you can make lots of money when the market is recovering.

A good savings account to open while you're waiting is PCF (google it) they have 3.1% savings accounts with no hidden fees, which is pretty good at this point in time.

If all you have is $3000, I'd suggest investing less than half of it when the time comes. That way, you can't lose everything.

Answer 8

$3000 is not a lot and if you are only willing to invest $3000 I don't think you are very experienced(I could be wrong you should invest more if you are experienced).I suggest mutal fund or index fund for sarters, invest in the stock market when you have more money and experience.

Answer 9

There are various investment options available to you starting from mutual funds to stock market, forex trading, commodity futures and investment in gold futures etc. Build a portfolio of investments based on your priorities.

Answer 10

Invest your 3000 in Gold bullion.  Gold beats inflation, and is the only thing that still has the same value.  You can still buy the same amount of Corn, Gas, Wheat etc, with the same amount of Gold since 1972.

A CD pays too low of an interest rate.  

Inflation will reduce your buying power the longer the money is held in that vehicle, or any other fiat currency based vehicle.

Stocks are too risky.  Merril Lynch had 5 analyst predictions that the Market would get to 15K, 5K, 5K, and 5K 2 years ago - these are estimates from 5 people in the know.  Well it almost made it to 15K - 14K and change, but it has been going down all year 9K currently.

Checkout www.dollarcollapse.com

Answer 11

get up

Answer 12

For that little money, I'd put it in an online bank where you can earn roughly 3 1/2%. See www.emoneycentral.com for some suggestions.

Answer 13

go to the bank and ask to start a savings account

Answer 14

Invest in something where you can guarantee you will get your initial investment back, plus some. That's what I did. I got my investment plus some after 9 days

www.5linx.net/elocin