I am paid a salary of 750 $ after tax deduction?

Question

if am carefull i can spend 200 $on me and my familly and 2 kids of course i will get other money from here and there i want to invest the remaining 500 $ somwhere where i doubt it to go wrong in other words i dont know what to do with the money i dont know how to save i want to try and stay a comfortable life

Answer 1

1, 401K- can't be withdrawn before retirement without penalty; until then, tax free

2. Mutual funds- a bunch of small investors get together to become one large investor in stocks and bonds.

3. Money market- not too much interest, but you can withdraw at any time

4. Treasury bills- backed by the government, considered no-risk. Anywhere from $1000 to $1,000,000. Short terms of less than one year, long terms up to 30 years. Some even hedge the principal against inflation.

5. CDs- bank invests money to return your interest rate. Interest rate not too high right now, but none of them are.

6. Municipal bonds- from your city or county. Less interest, but guaranteed.

It's a start!