What's a good investment for someone who has limited funds?

Question

If someone were to have only about $1000-$5000 but was interested in investing it, what would you recommend?

Preferably something very safe, even if growth potential is low. Or, if possible, half into something with high risk-high growth potential and half into something low risk-low growth potential.

Also, I do not mind tying my money up for 1-10 years (I have patience).

Answer 1

hello - spend 10-20 of that buying a book on investments and learn how to do it and what your options are - or buy a book form one of the gurus on money - david bach, suze orman, etc. and see what they suggest.  if you want low risk, there are savings accounts and cds you can use.

The more you educate yourself now the better off you will be in the future.  good luck -

Answer 2

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Answer 3

Right now, there are no good investments with any sort of return. I have pulled all my money out of the stock and bond markets and have it all in regular money market funds. Right now, for you, I suggest an FDIC insured term deposit paying maybe 4% at any reputable bank.

Then watch the Los Angeles housing market on the LA Land blog at latimes.com. When Los Angeles house prices start to rise again, you could consider the stock market again. Until, just try to preserve your capital even though we know inflation is going to eat up all the gains and then some. But for at least the next year, Wall Street is going to do even worse.

Just watch out for all the scam artists that are going to offer you sure deals with high growth. If what they had was legit, Wall Street would be all over them as those fund managers do not get paid much when they are losing money. Those guys are desperate for anything that will make a buck right now. And if Wall Street has not snapped it up, you don't want it either.

Answer 4

Before you chose an investment are your debts paid?  Paying off any loans and especially credit card debt provides a no risk immediate return on your money.  Do you have 3 - 6 months income put aside in a CD for an emergency?

Once your debts are paid and an emergency fund put aside look at broad based mutual funds like an S&P 500 fund.  An investment counselor recently said "Wall Street occasionally has a sale on stocks, but most people won't take advantage".

God bless!