I make 60K as a new grad and my job tops off at about 75K. How do I invest my money to make at least 100K?

Question

Do I purchase a home first? I am living at home for a year to save for a down payment for a home. Also, how much of my paycheck should I save?

Answer 1

Buying a home is not an investment? WTF

That is terrible advice.

Here are some things you need to do now that you are starting with your professional career.

1) Save $10,000

I would suggest investing in an Moderate Index fund.

I use www.vanguard.com I have $500 deducted from my savings account every month. No is a great time to get in, because the market is low.

2) After you have reached the $10000 mark, buy a home. I would suggest two things here, either buy a home you can do a little work on (not major stuff, just sweat equity) or buy a small nice home. Either way don't buy it unless you can afford a 15yr loan. (trust me on this)

3)Take advantage of a 401k if your employer has one.

4) Keep saving in an index/mutual fund to maximize earnings. by putting a constant $250 -$500 a month away in 15yrs you will be earning $20k or so extra just on that money.  And your house will be paid off.

5) don't waste your money on cars, learn how to ride a motorcyle and save on gas.

Answer 2

Save 5-10k, buy a Forex trading system, use a demo account for 2 months before trading (so you know there is profit to be made), make profits, buy a house, enjoy life. Been there done that.

If you're interested here are reviews of the top 3 Forex trading systems: http://forex-tracer.the-perfect-solution...

Answer 3

Hello there,

    

      I have invest more than 100k in foreign exchange asset management and i made a great income from 5% to 20% more or less monthly , if you are interested , you can take a look.

Answer 4

60K is great for a first job. Don't listen to the first yahoo that said that buying a home is not an investment. For most people it is by far their largest asset. Save 10% of every paycheck as a minimum. Don't worry about hitting the 100k mark just yet. Stay with this job for at least 3-5 years. Your next job is where you'll see the jump in pay. You're in a very good spot for someone right out of college - most people at that point struggle living paycheck to paycheck. Contribute the maximum that you can to your 401K so that your employer will match a significant portion. This will help you get to a higher compensation level.

Answer 5

Allocate part of your assets into fixed income investments (like treasury bills, bank CDs, rental property) and capital growth securities (stocks, foreign exchange, commodities).

Putting all your eggs in one basket may leave you with an erratic cash flow situation.

I wish you the best!

Jim http://jsforex.blogspot.com

Answer 6

Spend less than you earn now.

Don't buy things on credit (except a house.) That's the quickest way to feel temporarily rich and long-term not so rich.

Invest in further education so you can get a job that pays more than 75k.

Continue to spend less than you earn, and invest the balance 80% conservatively, and 20% look to small companies that you have good reason to believe will grow crazily.

If you spend less than you earn, you never have to worry about money. Spend more, and you always have to worry about money.

Answer 7

That is totally dependent on how much time you have

Answer 8

"Buying a home is not an investment."

What horrible advice. Houses tend to appreciate so buying a home is a sort of investment. Now buying a fancy car is not an investment.

Answer 9

If you are living at home and your parents aren't charging you rent, you should be able to save virtually all of your paycheck.

Be a good roommate.  Help with laundry, cooking, cleaing, etc.  Make them miss you when you leave!

Buying a home is not an investment.