Saving money?

Question

I want to find some ways to invest my money, a small amount every month from my paycheck. What are some good ways to invest your money. Putting them in a deposit and let the interest grow? Things like that?

Answer 1

Depending on time frame till retirement and the risk you are willing to take .Start with 401(k) through your job (if it has one ).If not look into INGDirect (ingdirect.com sorry for no link). then start simple with setting up an emergency fund of just cash in a money market (ING Direct) of say $1000 . Just in case of car trouble or sickness etc. Look at paying off any debt that you might have such as small loans or credit cards etc. Get rid of them and then look at good mutual funds at ING or Sharebuilder.com . Which they are both linked together. When your are ready to invest diversify with  Large cap ,Mid cap ,smallcap , international, and a long term bond funds in an roth ira or traditional ira . (Always put some cash into the emergency fund to keep it up) To set up your portfolio start with a large -cap fund . Start with a monthly minimum which is usually $50 a month they will give you the names of the funds that do that and go from there invest the amount you can afford . Build the large-cap up to $1000 then stop the monthly min. in and then go to mid cap do it all over again till $1000 . then repeat the process with each small-cap international and bond funds then your diversified . But repeat process until you can do all at the same time if not that's alright . But most of all LEAVE It ALONE it's for retirement . The cash can be for emergencies or anything else budgert wisely .Have a nice day!!!!

Answer 2

for long term investments , mutual funds are best bet. look for a company with a good history and there is a very good chance that ur investment will grow with time. usually mutual funds come in two schemes, either u can invest in bulk or u can invert in parts. as for ur requirement the latter is the option. there are funds with the history of tripling the money in 5 years time.just look around.

Answer 3

do whatever they say above